"...material inside information..."
That's the key word. If Sonata, who's not on their Christmas card list, can call the company and get information (not material) that's not public, it's a sure bet that major investors can call and get general info, such as whether this month is looking better than the last, is the new supplier beginning to make deliveries, are talks going well with Walmart, etc.
I talk with other investors, franchisees, and some who have taken the private placement and they generally have information about things (not material) that are not public, especially the franchisees who regularly receive updates. From the feedback I receive I interpret as things are going well and the company is making progress (however you want to interpret that).
