I don't have a problem dealing with Private vs public Companies and I've even seen situations where they co-exist. Keg Restaurants in Canada is a good example. The operation company is private and over 5 years ago they needed to update the restauarants and needed to raise cash... they created a public 'income trust' KEG.UN and were able to sell about $200M of the shares/trust units. The model pays 4% of sales to the trust and this is distributed out to the unit holders. This is great for the unit holders as it is based on the gross, not the net. High advertising costs help, they don't hurt.
We have now done two JV's with the same group of private investors. As suggested there are no/limited reporting rules for these people. They are limited to the number of shareholders they can have but I'm not sure of the number. It may vary by Province.
My question is this, do NOT shareholders have the right to ask whether any NOT insiders are also investors in Intrinsic? Clearly this would be a concern and as such I am sure that the answer is no. Do we have the right to ask?
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