Hi Scott, you're probably right. However even preliminary...

Hi Scott, you're probably right. However even preliminary unaudited accounts would be a start.

As an example that it shouldn't be too hard to prepare some sort of report is the listed company Bailador. 'It provides exposure to a portfolio of information technology companies with global addressable markets. We invest in private technology companies at the expansion stage.' Bailador values its portfoilo of unlisted investments at cost or a revised value if there has been a significant transaction in that investment that justifies a higher value. It acts conservatively and won't accept a volatile or fluctuating value until there is a significant event or transaction that confirms that base value. It then reports NTA to the sharemarket on a monthly basis.

As for not needing capital? I'd be very surprised if professional investors are putting in millions of dollars without some idea as to what they are investing into. How do they decide to take up new shares at $1,2 3 or $4? This means not all shareholders are holding the same information. It might restrain their growth to provide disclosure, but its also the only way to ensure that the company is being run correctly.

Is the portfolio of investments in which AB1 invests (and we don't know % ownerships of its portfolio holdings) being run with the same scant regard for proper finances and reporting? Its fun watching but AB1 look like cowboys.