The attorney was just describing 3 scenarios how such info could be kept private. He wasn't saying this could be one of the situations... Besides #1 is most likely the situation.
"Three possibilities ...1. this is running through a private entity and will be converted once the books are straight with gbhd. Everything needs two years of audited fins, so they are probably removing bloated weight and only working the new companies in.
2. it's being pushed via some new capital raise (basically like the new reg A+, but all kept away from the public).
3. The raise is being pushed via some exemptions. Be weird with an investment bank, but my company is raising money from friends and family, which does not have to be disclosed. We just needed all acquisitions to be finalized and the holding entity created.