Mosaic Theory - Nonmaterial nonpublic information

Mosaic Theory combines material public information with nonmaterial nonpublic information.

What exactly is non material nonpublic information?
and how does it differ from material nonpublic information?

Can anyone give me a example?


The exact number of paperclips that Google has in its possession as of 6:30 AM PDT today is likely nonmaterial (not quite sure why they don’t call it immaterial) nonpublic information.

It differs from material nonpublic information in that no investor (well . . . no rational investor) would want to know it before investing in GOOG.

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Basically, when information that is not made public yet, can have an effect on stock prices, it is said to be “material”, whereas, when that information can have no effect on the stock prices, it is said to be “non-material”.
Examples - Google is acquiring a small software firm (Material non-public Information until google or the software firm makes an announcement to the public), whereas, google having 5 pencils from target in its office at 3PM on a Saturday afternoon (Non-material non-public information until google comes out and tells the world that it has bought 5 pencils from target).