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They are required to state such things in their filings because the shareholders are OWNERS of the company and have a RIGHT to know EXACTLY what is happening to the company that they own. And since it is a publicly traded company, it has to report things openly so that shareholders and potential buyers know what they're getting into. Of course, they'd prefer not to disclose such information, but the shareholders ARE the owners! Things need to be spelled out to investors because it's the INVESTORS" money that is being used and it's THEIR money that is at stake. Investors are owners. If you had invested your money, you'd want to know what was going on, wouldn't you???
Maybe all this does take the "fun" out of the business, but when you are using other people's money (that's what getting investors means), then you'd darn well better be paying attention to such things and not only having fun.