Maybe this post could be put in the I-box? It appears that many posts have been put up to bury it! JMO Thanks JR30 for the DD It is much appreciated by some!
JR30:Quote: Long post. Lots of ANSWERS though.
All these rumors were driving me nuts. So I talked to SFRX today. And for the first time, I even talked directly to Ace. SOO many things said lately, and almost ALL of them are NOT TRUE.
For the record, here are some responses I received today, in a phone call, and straight from their mouths to my ears. Not rumor. Just what I heard. And I asked Ace if I could repeat these answers, and he was fine with it.
I’ll put posts in brackets, then the responses I have at this time, if any.
<You've got a permit to explore, and that's it....... >
Not true. We have a dig and identify permit also. It has been press released that we had it, we do have it, and if we did not have it the company would be fined by the SEC for saying they had it and they didn’t. We have it. Period.
< There isn't even an 80/20 agreement >>
I guess this doesn't even fall into the rumor category. Just someone stating something that is wrong. But, in this case, it IS wrong. We have an 80/20 agreement. No, it is not a public document, as no company puts their contracts out for the public to scrutinize. But there IS an 80/20 agreement. Which is pretty standard for Florida contracts actually. Not amazing in any way, as that is what others get too.
<They will probably have to RS soon if they don't find anything to raise capitol (Sic) for diving in the future >
No, they won’t have to. They may (will) have to sell shares, as they have been doing, but that has nothing to do with a RS. How would a RS even help them raise capital?
<The rumor now is Ace is not even leading the hunt.>
Ace is an integral part of a meeting that occurs at the end of the day EACH day they dive. His opinion IS being listened to, and he is comfortable with the role he is playing at SFRX, and EXCITED about what he feels is going to happen very soon. Unknown when, but proverbially “soon”.
<Why in the world would I need to prove a rumor is false? >
Agreed. But I really wanted to KNOW. For MYSELF. So I asked. And the rumors are false. I’ll reach them coming up.
<Another treasure hunting company found ballast stones 30 yards from the beach, that they claimed belonged to the Concepcion. >
High probability that this is incorrect. Of course, there have been numerous people who have said they have found what they thought was the Concepcion over the years. So not a biggie.
<I would like clarification as to whether ACE is still leading the search for SFRX. That in itself would tell me a lot. >
Ace was never “leading” it. He is part of a crew. The crew leader is George. And Ace told me, very directly, that he and George work together, George listens to his thoughts, and he is fine with how things are going - with the exception that he wishes they had already FOUND the treasure, of course.
<Ace no longer works for sfrx.
I won't go into details. I did hear that someone with no treasure hunting experience has been running the show for some time and would not take ACE's advice>
Now we are getting into the biggest rumors. Ace VEHEMENTLY DENIED this rumor. He said his advice IS being taken, he IS working for SFRX, and he took off for a few days because he has a house in the keys and he wants to make sure it is boarded up and does well this weekend as the storm comes in. that is ALL. He TOLD ME DIRECTLY THAT HE IS 100% COMMITTED TO SFRX, AND HAPPY WITH HIS ROLE IN THE COMPANY. You can’t get more of a refutation of a rumor than that.
<They are not following a trail.
Enough said.>
Not enough said. He said this too is TOTALLY UNTRUE. He even tried to explain to me HOW the trail goes, and what it looks like. He said they ARE following a trail. (which would also refute the thought we are sitting on one piece of wood all this time, yes?) I asked a bunch of other questions too, but Kyle would not let Ace go much further on that issue, as he said everyone knows they are chasing the trail of the Concepcion, but anything more than that might be information that has not been divulged to the public yet, and Kyle didn’t want non-public information given out to one shareholder. I gotta admit - Even though I WANTED to hear more, the fact that Kyle is following the rules and not giving out insider information? Makes me feel better about Kyle. But still, Ace said not following a trail is totally false.
<If it's true that Ace has left than we all know they aren't finding jack squat. >
But he is not gone.
<Was Ace able to let you know if they were finding anything besides wood? >
This was directed to someone else, but let me answer this. Ace CAN NOT tell someone (Not even me) if they are finding more than wood. Because it will come when the company announces it. Not before. So, if that person responded, and said with definitive answer what Ace said, ACE DENIES IT. He told NO ONE what they are finding. Good OR bad. He knows better. He told me that himself today. He just mentioned that the idea of them not following a trail was totally inaccurate and false. Other than that, he couldn’t talk on what was found, or not found, or when.
<after a thirty minute conversation with ACE, I will quote the important part:
" I am totally committed to diving for SFRX and have had no thoughts of stopping, the only reason I have left is to board up my house in Key West" >
Same thing he told me. Consistency. It’s what happens with the truth. And Rob is going back to TX this weekend, because of the storm and the days off, but he is the only one of the three (Not four) from Texas that is going back, and he shall be back in 3 days also. Just a visit. Robbie and Levan are not going to TX today.
<One thing that I do know. SFRX has been diving on that wood for a long time. They should have had it analyzed by now.
I guess the wood isn't from a 1715 wreck or sfrx would have released that information. >
Don’t say you “know” and then say something that you don’t know. No, they haven’t been diving on “that wood” for a long time. They have been diving on the SITE for a (somewhat) long time, but not on that piece of wood they announced they found. It doesn’t take long to analyze one piece of wood, and then move on. As you know.
<Let's try some facts. Did sfrx ever get the wood they are diving on analyzed for a Country of origin and date of the wood?
If so, is the wood from a 1715 wreck or a newer wreck or an older wreck? >
I believe they already stated in a PR a while ago that the wood was of the 1715 period and that Sinclair or DeBry was the one who said so. I’ll have to look for that …
<If it is from 1715? Then by all means dive on it and as Raider21 says. FOLLOW THE TRAIL. >
But they are getting grief for doing that EXACT same thing. Again, that wood was a long time ago. No one stays on one piece of wood for this long.
<curious and waiting for official word.>
There go you. Wait. Don’t judge them though, or say they are wrong for diving on it. First, no one knows if they ARE diving on it, and second, they already said it IS from that era.
<I seem to remember from a pr that the wood was analyzed and was from that timeframe. I think they have enough evidence in that regard to stay on it.>
Someone else also seems to remember that then. That makes me feel better about thinking I saw it.
<I would still cover my house and I would also come back to work when I was paid. >
When you were paid? The rumor was that Ace had not been paid in 2 months, and that is why he “left the company”. Kyle asked Ace while I was on the line to tell me if he was two months behind in pay. He said HE IS NOT. Then, Kyle asked if he was a month behind. HE IS NOT. Ace said these rumors are also NOT true. From Ace’s own mouth! Another rumor down the drain as just not true.
Ace also said the SOURCE of these rumors, as to who it is supposed to be, is someone he has NOT talked to and it can't truly be that person. Neither have the other divers. And the fact that it isn’t even TRUE that they are behind 2 months in pay makes it impossible that they accidentally slipped and TOLD someone that story. We then got into a conversation about the bad guys out there that spread rumors. He said all these things attributed to him are NOT FROM HIM. He flat out denied it, and said he is committed to the company and nothing has changed. The imaginations of some have just run wild.
It was a long conversation. I was 45 minutes late to a meeting, but felt it important to talk and moreso to listen. Ace was totally comfortable with SFRX, and his position. And UPSET about the things attributed to him. The board has it wrong, and no one knows WHY someone would start these rumors.
<Ace not getting paid would be consistent behavior.>
And yet it would be … wrong. Per Ace.
<I hope your rumor is correct. >
I hope that rumors are not even mentioned. Whether true or not. Whether positive or not. Rumors are never a good thing. And MOST turn out wrong, which is why they are rumors in the first place. (And that one too is mostly wrong)
<If Ace is there as a "paid" diver thats great but he's apparently not running the show out there. Some X-navy diver with zero ancient shipwreck experience is supposedly running the show and Ace is just a follow orders diver. Why don't you call management and get confirmation on this, then everyone can be happy.>
Good news. Since I DID call today, I can again answer this one too. ? Ace is NOT just a follow orders diver. He said that he has a special area he wants to dive, and as soon as that area opens up with the lease approval he has been told he WILL get to dive it. NOT the he is just ignored, which is what keeps getting said. By everyone EXCEPT ACE. One more time for the record. Ace is HAPPY with his position, feels he IS being listened to, and is ON BOARD, both literally and emotionally with this company. Saying otherwise to make it sound like he is not is just not true – according to Ace.
<There you go with yet another rumor that Ace is just following orders as if he has zero input on what is going on. The 2 rumors you started about Ace leaving were wrong>
As is this one (Not true) - according to ACE.
<Who was the source of the 80/20 agreement........
rumor? I know lenders repeat it as if it were gospel, but the state shot down that rumor a year ago?>
No, they didn’t. The 80/20 was released by the company. And they stand by it yet. It is the standard for the state, and what the company says they have. Kyle said it in a video too. The 80/20 split is standard practice, and per the company IS in their agreement with the state.
That’s all for now. Bottom line is that the rumors are just that. The source that supposedly divulged the information is not accurate. Can I say everything is fine? No. But, Ace is there, people are not two months behind on pay, the company struggles forward, they are hopeful of finding treasure at site 3 still, and they DO have the rights to dig, not just mag site 3. Per the company. Direct. Not rumor. Not from the docks. In the public domain of the company or from talking to Ace today. Enough of the attempts to make things out to be worse than they are. They haven’t found ( or announced? my hope, not something from Ace) treasure yet, but they are LOOKING, and WORKING, and doing exactly what they told us they would do. Dive and look until they find it. And the rest is just rumors.
I also did not discuss at ALL the suit with the defendant. Not important to me, as I expect they will get a judgment and then never get any money (My thoughts). Plus, that is not the focus of the company. The focus is diving and eventually finding treasure. So I asked about that. THAT is going to bring us out of this hole, or set us deeper in it. We either find treasure – or we don’t. And that is what the company does, so that is where I asked my questions. About the crew, the site, the boat (Still afloat), and whatever else they would tell me, knowing they were confined with limits. Now let’s get back to waiting and letting them do their jobs!
