Reporting is not a requirement for all companies. If this is incorrect then someone please point me to the appropriate SEC text.
Companies which do not have their stock registered w/ the SEC and fall below asset/shareholder threshold levels are not required to file periodic financials w/ the SEC. If they elect to voluntarily register, they assume a reporting obligation. Since MCCI's stock is registered, they have this obligation. Ref: 33/34 Securities Act w/ accompanying rules.
====
As far as the zero sum game, and short of opening a big debate, not everything is zero sum game and specifically in the markets. For example, new technologies bring new opportunities for growth in new markets and the sum is not zero.
On the other end if or when this is a zero sum game, I would have to ask if and how one has an interest in stocks and make money in the markets then?
Zero sum refers to the money exchanging hands. If this wasn't the case, stock prices would never go down.
Before going public, a company often sells securities in private placements. Since the money raised is outside the market, this would be in the loss column of the game. When the company IPOs and initial investors sell their stock, incoming buyers' money would go into the gain column offseting the previous loss. As the stock trades back and forth, some investors win (gain column) while others lose (loss column). People will move profits out of the market or over to other stocks (loss column).
====
Anyway and specifically on MCCI long term, there are opportunities for this company with using the advances in Lipospray in general and the use of suntheanine that they are now focusing on. The demographics is encouraging. Time will tell for investors and in the meantime, trading opportunities exist for any stock including this one.
Very tough for a smallcap to succeed w/o good management. IMO any trading opportunities here will be based on hype not business success.