No actually they wouldent be reporting. It requires a lot of time and effore better spent in other areas right now. It requires a lot of extra cash be spent that would be better in other areas. Not reporting isnt a bad thing at all. Its a very useful tool that gives the new companys the freedom to make changes on the fly, to better allocate resources. When the time is right to file the company will do so. Any sooner would cause serious harm to the company.