Back in February, the Wall Street Journal reported that Facebook, the world's largest online social network, could file for its Initial Public Offering (IPO) as early as the first of the month, according to spokesmen people familiar with the matter, the company's lead underwriters at Morgan Stanley, and company manager Goldman Sachs Group.

But alas, the truth has been revealed and the Wall Street Journal now reports that the company was simply filing papers back in February, while the actual IPO is expected to happen sometime in May. Facebook is still in discussions with the United States Security and Exchange Commission over the IPO and "expects to file at least one more amendment to its S1 registration papers."

According to the latest update surrounding the situation, the company last filed an amended S1 earlier this week on Tueday. But ever since it filed papers in February, the company has seen plenty of demand for its shares on the secondary market, boosting its overall valuation to around $105 billion (up from $100 billion).

Once again, we would like to say that Mashable has published a convenient article titled Everything You Need to Know About Facebook's $100 $105 Billion IPO which can be found here.