The information can vary, there is no record of it so it is unaccountable, it wastes the company's time and it can be misrepresented or distorted if it is reported to others. Am I missing any other major points? Oh, by the time the shareholder calls it is likely that they are on their way to being upset.
No, you're right, it is not secret - I was being too dramatic.
I'm trying not to go down an negative path here but there are things that could make about 1/2 the shareholders happier (based on the ratio of positive to negative posts here) and they aren't being done.
On a positive note, if the company were just trying to sell shares to milk the shareholders out of cash they would be trying to prop up the share price and they are not.
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