Seafarer Exploration Corp (SFRX)

[hedge_fun]

Glad to see the statute posted. It clearly......

shows Seafarers has quite a bit of work to do per their latest report to the FBAR. GME found far more than Seafarers has and they still don't have a recovery permit.

A recovery permit may be issued only after the existence and nature of a historic shipwreck site has been documented by exploration permit activities and mutually agreed upon by the division and the permittee. A recovery permit allows the permittee to conduct more extensive excavations and recover archaeological materials, and allows for the transfer of title to the permittee of objects recovered, per Rule 1A-31.090, F.A.C. The number, location, extent and type of such excavation and recovery operations shall be specified in the permit.

The "bringing up treasure soon" theory has no basis in fact. If they brought anything up it belongs to the state.

Nor does the following have any basis in fact, except SFRX put that info in a PR, but they've LIED before in PR's (2 of 3 items for example). The FBAR is supposed to be notified and given copies of additional permits.

In addition to the new Area 1 permit, the MB514 area is also covered by the following permits.

Department of the Army Corps of Engineers Permit for the MB514 area, renewed June 29, 2015 for a period of 10 years.Florida Department of Environmental Protection Permit for the MB514 area, renewed June 08, 2016 for a period of 2 years

The FBAR told me they don't have proof Seafarers has those USACE/DEP permits when I obtained the most recent permit.

from: Pullen, Amanda L. <[e-mail]> via fldos.onmicrosoft.com
to: "[e-mail]" <[e-mail]>
cc: "Rey, Carlos A." <[e-mail]>
date: Thu, Jul 14, 2016 at 12:33 PM
subject: Public Records Request
signed-by: fldos.onmicrosoft.com

Enclosed are public records responsive to your request for a copy of Seafarer’s Quest’s current 2016.05 permit, as well as its amendment. We do not have custody of a record of permits from ACOE or DEP for Seafarer’s Quest current permit area.

The Department now considers your request fulfilled. It has been a pleasure to be of service to you.

Thanks,
Amanda Pullen
Administrative Assistant III
Office of the General Counsel
(850)-245-6536



See REQUIREMENTS & CONDITIONS item 1.....

https://www.scribd.com/document/318327810/2016-07-06-Seafarers-Quest-2016-05-Permit-Executed

And they don't list those permits as they do the two exploration permits under material agreements. See Note 9.

https://www.sec.gov/Archives/edgar/data/1106213/000165495416003947/seafarer_10q-17017.htm

This is what they used to file. They claimed they still needed environmental permits, but have since taken that language out. Go figure.

On July 28, 2014, the Company’s partnership with Marine Archeological Partners, LLC, Seafarer’s Quest, LLC received a 1A-31 Permit (the “Permit”) from the Florida Division of Historical Resources for an area identified off of Cape Canaveral, Florida. The Permit is active for three years from the date of issuance. The Company must obtain and maintain various concurrent environmental permits in order to perform operations at the site. The Company has applied for permits from the State of Florida for two additional areas that are in the vicinity of the area. No additional permits have been issued as of the filing date of this report.

https://www.sec.gov/Archives/edgar/data/1106213/000119983516000841/seafarer_10q-16883.htm

Why the discrepancy?