I think after you have 2000 or more shareholders there are requirements to publically report the financial performance. I am not sure if this makes the company

I think after you have 2000 or more shareholders there are requirements to publically report the financial performance. I am not sure if this makes the company a "public company". https://www.investopedia.com/terms/5/500-shareholder-threshold.asp https://www.investopedia.com/terms/5/500-shareholder-thresho...