No actually, it isn't. This is a fully reporting company. Because if this fact, both the SEC (who regulates dissemination to the public) and FINRA (who regulates all broker dealers and clearing firms) have several layers of implemented security through the filing of various SEC disclosures anytime an Officer or Director wants to hypothcate, pledge, borrow or sell shares of their stock. This includes the issuance of a legal opinion by a reputable SEC attorney, who ascertains considerable liability, which would have to be accepted by a broker dealer and the clearing firm, as well as, an SEC disclosure filing in order for any insider shares to change hands. Without such process, the shares are restricted and essentially worthless to anyone receiving them.
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