Seafarer Exploration Corp (SFRX)

[hedge_fun]

What reason would there be for Stephen Reddy......

of HTQ and also MAPS, to assign three sq miles within a permit area and hold the rest until the permit expired?

Was HTQ still exploring Area E-155? Couldn't the whole permitted area be assigned at once? It's generally agreed HTQ isn't a good partner, but HTQ is MAPS, correct?

(c) Seafarer Exploration, shall be responsible for any and all costs and expenses, including any and all permit costs and fees, insurances required by the State FDEP, State FBAR, and US Army Corps of Engineers, for the exploration, dig and identify, research and establishment of historical province, salvage, recovery and joint conservation, artifacts and archaeological material from abandoned and lost Shipwreck Site(s), (the "Shipwreck Site(s) which shall be located in the Area set out in Schedule A to this agreement, held by a related entity to MAP for over the last decade.

http://www.sec.gov/Archives/edgar/data/1106213/000119983515000091/exhibit_10-5.htm

Perhaps HTQ/MAPS pulled a fast one on Kyle as they haven't found anything to speak of.

Or maybe Kyle was just looking for something to sell debt notes with.