Well if that's true, then it's also probably true that SEMCO WAS purchased with private funds I guess.
They have a lot going on with the acquisition and the audit and uplisting. IMO, they're doing what they have to do to grow the company.
Lawyers and accountants are absolutely necessary to accomplish some of these things.
This confusion is part of the game when you own a pinksheet stock and is why the uplisting is so important. If they have to use shares to pay for it, so be it.