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So what happened to the !M loan and no need for company to sell more shares?
The longer this drags on the longer KK keeps his $1,000 a day 24/7 pay check. If the SeaSearcher worked don’t you think KK would follow through on the $150,000 contract to survey for the company that gave the $150,000 deposit years ago? Keep praying for the hot air balloon rides. The only way shareholders have a chance to profit.
Unfortunately hedge is correct, they are bleeding money, the pace is increasing YOY, and the dilution continues. IMO the issued permit at Juno needs to turn into some sort of revenue stream. Management needs to give us more to stay long.
Proof of treasure
Proof the technology works
TV deal
It's time SFRX.
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You were anticipating worse than this?.........
The Company’s net loss for the three months ended March 31, 2024 and 2023 was $1,312,070, and $991,370, respectively, a year-over-year increase of approximately 32%.
They sold shares for half a penny.
On various dates during the three month period ended March 31, 2024, the Company entered into subscription agreements to sell 63,500,001 shares of its restricted common stock in exchange for proceeds of $318,500.
Well at least they found a coin. No one can say they haven't found treasure.
Additional paid in capital $26,912,044
Accumulated deficit ($29,659,528)
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Kind of a bland report. I was anticipating much worse. Time to buy. $SFRX
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Yesterday was too. So will tomorrow I am guessing.
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Here’s a little help. Click the pic……..
and then enlarge it.
BTW, it’s not a re-post.
Marx was interested in a small area based on the mag hits. That’s where Judd wanted to focus and had SFRX search.
But Kyle suggested Judd had them working in the wrong spot so he could later come back and steal the treasure.
How does that claim make any sense?
It’s rhetorical.
GL
Sorry anything you re-post always is blurry, and I’m unable to read it. Jmo
I don't know if this summer is make or break for SFRX? Been a long time and a whole lot of effort for something that might not be there. A lot of staying the course power for all of it. Maybe the permits were issued due to the fact they have proven something or value, historical significance, or modern dirty word (treasure), is actually there? Just needs to be recovered? I'm thinking it's the something is actually there and they showed it. I really never believed they would get a permit. But here we are. I'm adding a load of shares if it goes below .012 again? If it doesn't, I'm happy with what I have and look forward to the run. Anything of significance or value send this thing running. It just does,
That would be nice
Need another catalyst to set off buying
Maybe we can make another run at 3 cents with Volume before the Recovery Process starts.
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Always enjoy your posts!!! I’m grabbing more Carmel popcorn!! This pps is just getting started!! Of course this is JMO
I don't know where you got your info, but......
it's inaccurate.
He never got that permit shall we say because of the personalities involved with him and state officials. Laird then desperately partnered with SFRX to get the Juno permit knowing he would have to give up a nice portion of the treasure he was after. Better with some of the pie than none of it.
Well Stated !!!!
So follow me on this Raider: we know there have been searchers at Juno and we have at least two that have found mid-1500s coins. The state's Roger Smith as well as SFRX. Now my guess is that others found surface coins too but just not publicly disclosed. Judd Laird was the last searcher and he no doubt thought significant treasure was there because he aggressively went after the state of Florida for a permit to excavate it.
He never got that permit shall we say because of the personalities involved with him and state officials. Laird then desperately partnered with SFRX to get the Juno permit knowing he would have to give up a nice portion of the treasure he was after. Better with some of the pie than none of it.
Now SFRX has developed new technology that after scanning a small part of the wreck decided no matter what to get the permit to dig Juno. I'd say SFRX along with Judd Laird are certainly convinced of treasure. So as you stated everyone believes this is a mid-1500s wreck with multiple entities finding mid-1500s coins and multiple entities sure in their own minds and with various technologies that treasure is there. I understand your opinion but there are significant breadcrumbs leading to the conclusion that this is a treasure wreck. And wow if it indeed is this will be something to watch.
Quote: I really think the SeaSearcher tech is designed to go after larger targets and that's what the focus has been on primarily. imo the time is being spent on perfecting the technology for that purpose and not to find individual coins. I'm guessing they are there but that's not the goal of the SeaSearcher.
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I fully understand that and certainly agree. Here once again it all comes back to the 'bottom-line' of has SeaSearcher identified and pin-pointed concentrations of gold and silver treasure? I have already rendered my opinion so no need to repeat it again.
I really think the SeaSearcher tech is designed to go after larger targets and that's what the focus has been on primarily. imo the time is being spent on perfecting the technology for that purpose and not to find individual coins. I'm guessing they are there but that's not the goal of the SeaSearcher.
Quote: FWIW concerning the coin from the Juno wreck from SFRX Facebook:
"this was discovered while hand fanning on the site"
Can't wait to see what all they find when the start going after the treasure targets.
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Thank you for the clarification. Nevertheless, let me say that when on a treasure laden shipwreck there should be coins here, there, and everywhere. Not just one little coin. That could have been easily determined just by using ferrous non-ferrous underwater metal detectors even before application of SeaSearcher. Back to the bottom line:
Can't wait to see what all they find when the start going after the treasure targets.
FWIW concerning the coin from the Juno wreck from SFRX Facebook:
"this was discovered while hand fanning on the site"
Can't wait to see what all they find when the start going after the treasure targets.
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Quote: Just knowing the history about it would be great not to mention treasure.
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Treasure or no treasure. It's an intriguing shipwreck. Up to now - a mystery.
This wreck and the exploration of it would make some interesting TV imo. Just knowing the history about it would be great not to mention treasure.
Quote: Raider: so it seems to me that since Roger Smith documented the wreck as a mid-1500s wreck years ago and SFRX has recovered a mid-1500s coin that the evidence is good that it is indeed a 1500 wreck site. Would you agree with that? I would think that is some pretty big news that has been verified.
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I don't believe there was ever any doubt that the Juno site was likely mid-16th Century. That was determined well before SFRX involvement. Later, I believe marine archaeologist jim Sinclair came to the same conclusion.
As I had accurately predicted the Melbourne site was flotsam and not an actual wreck site, I also predict that the Juno wreck was a scuttling (deliberately done). Although not common, this happened on other occasions. One was the Almiranta of the 1598 New Spain fleet out of Havana. Having made it out of the Ne Bahama Canal, she was leaking badly and couldn't be repaired. With seas calm, everything was transferred off of her onto two other ships and she was left to sink. In my opinion, that's possibly what happened at Juno thus the reason why the site is devoid of cannons. Of course that's just my opinion. If there is treasure there, and SeaSearcher proves that, then my theory is wrong.
Why would dating the wreck be of importance......
without a target in mind?
Big deal, they figured it is a wreck between 1554 and 1572.
Unless you can ID a target that sank in that timeframe that hasn't been located, that's useless information. The date would only be useful in confirming a target.
But feel free to explain why it is big news, in your opinion.
GL
Raider: so it seems to me that since Roger Smith documented the wreck as a mid-1500s wreck years ago and SFRX has recovered a mid-1500s coin that the evidence is good that it is indeed a 1500 wreck site. Would you agree with that? I would think that is some pretty big news that has been verified.
According to the info from SFRX earlier today the coin was found on the JBAS late in 2023 or early 2024:
"During the late 2023 and early 2024 seasons, Seafarer has made significant progress on the Juno Beach Wreck, now called the Juno Beach Archeological Site (JBAS). In addition to receiving one of only two programmatic agreement permits issued for shipwreck exploration by the United States by the US Army Corp of Engineers, one of the more significant artifacts rescued was a 1 Reale Silver Carlos and Joanna coin from the Mexico City Mint. This coin bears distinctive assayer's marks, placing it firmly as a late series Carlos and Joanna coin minted between 1554 and 1572."
Quote: The coin aligns with the current site context and is similar to coins identified in the Florida Master Site File as documented by the State Archaeologist at the time, the late Roger Smith.
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If I'm wrong and need to be corrected (factually), its my understanding that single little coin was not recovered by SFRX. Supposedly goes back decades to when Sir Robert Marx and David Foster were working the site. Furthermore its said that it was found on the beach.
So dig the SeaSearch "treasure is here" readings and cease with all the rest of the nonsense.
What's the significance of the date? The only......
1554 treasure ship/fleet to wreck occurred off Padre Island, and those wrecks have been located. What are the other treasure wrecks that occurred between 1554 and 1572 that could be targets?
Thanks for any input.
GL
This is a great post!. I know, it could just be pocket change, but it backs up the date of the wreck with hard facts.
https://www.facebook.com/SeafarerCorp/posts/pfbid032365YMiPNYJMCtZMpsFZhupyZz8K4Sj1UoPm4P3JbPrEqCCoo73RFTUpk77gdSMvl
This posted on SFRX Facebook:
During the late 2023 and early 2024 seasons, Seafarer has made significant progress on the Juno Beach Wreck, now called the Juno Beach Archeological Site (JBAS). In addition to receiving one of only two programmatic agreement permits issued for shipwreck exploration by the United States by the US Army Corp of Engineers, one of the more significant artifacts rescued was a 1 Reale Silver Carlos and Joanna coin from the Mexico City Mint. This coin bears distinctive assayer's marks, placing it firmly as a late series Carlos and Joanna coin minted between 1554 and 1572.
While damaged from being on the ocean floor for nearly 500 years, the coin was rescued, carefully conserved, and is now part of the curated Seafarer collection along with over 950 other period artifacts from the JBAS. The coin aligns with the current site context and is similar to coins identified in the Florida Master Site File as documented by the State Archaeologist at the time, the late Roger Smith.
https://www.facebook.com/share/p/TdJ4fHEkCiTTG3V7/?mibextid=Cx5MWH
During the late 2023 and early 2024 seasons, Seafarer has made significant progress on the Juno Beach Wreck, now called the Juno Beach Archeological Site (JBAS). In addition to receiving one of only two programmatic agreement permits issued for shipwreck exploration by the United States by the US Army Corp of Engineers, one of the more significant artifacts rescued was a 1 Reale Silver Carlos and Joanna coin from the Mexico City Mint. This coin bears distinctive assayer's marks, placing it firmly as a late series Carlos and Joanna coin minted between 1554 and 1572.
While damaged from being on the ocean floor for nearly 500 years, the coin was rescued, carefully conserved, and is now part of the curated Seafarer collection along with over 950 other period artifacts from the JBAS. The coin aligns with the current site context and is similar to coins identified in the Florida Master Site File as documented by the State Archaeologist at the time, the late Roger Smith.
#SFRX #SeafarerExploration #SeaSearcher #Today #Archaeology #OceanResearch #Exploration #OTCMarkets #JunoBeach #Shipwreck #JunoBeachArcheologicalSite #USArmyCorpofEngineers #Reale #Silver #CarlosandJoannacoin #MexicoCityMint #coin #FloridaMasterSiteFile #Archaeologist
I think I read somewhere they hired security for diving operations? You don't do that for no reason. Wonder how it's going?
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How many more red flags does Kyle Kennedy have to display before investors realize that money invested here is all but certain to be money lost?
Summary
Seafarer Exploration Corp. (“the Company” or “Seafarer”), a Florida Corporation, was incorporated on May 28, 2003. The Company formerly operated under the name Organetix, Inc. (“Organetix”). The Company’s principal business plan is to develop the infrastructure to engage in rescue archaeology, archaeologically-sensitive exploration and research, recovery and conservation of historic shipwrecks and to eventually monetize the recovery of artifacts. The business plan includes in-depth archival research and translation of historical documents from archives and repositories from around the world. The plan also includes the development of various new technologies, including the flagship SeaSearcher technology, which will improve efficiencies of both time and accuracy, as well as create a smaller operational footprint.
The exploration and recovery of historic shipwrecks is by nature very speculative, and there is a high degree of risk inherent in this type of business venture. The exploration and recovery of historic shipwrecks involves a multi-year, multi-stage process that may take very long periods of time, several years to decades, and/or be prohibitively expensive to locate and successfully recover valuable artifacts, if any are ever located at all, from historic shipwreck sites. It is for those reasons that Seafarer and others feel it is mandatory to develop new advanced technologies that can be utilized to more efficiently conduct exploration and recovery operations.
The Company is also actively researching, exploring and testing new technology to help more accurately understand current and future historic shipwreck sites in an unobtrusive manner. Up to the date of this filing, all tests of new and unproven technology and methods have failed with the exception of the Company’s proprietary SeaSearcher device which is still in development. Additional scientists have been hired as consultants to assist in these endeavors. The ongoing cost of SeaSearcher development is substantial and is an additional and significant financial hurdle for the Company. Seafarer believes the advancement of this technology is important for the advancement of the field of archaeology.
The Company regularly reviews opportunities to perform exploration and recovery operations at purported historic shipwreck sites; however, the Company does not have specific plans to perform exploration and recovery operations at other shipwreck sites at the present time. The Company is actively reviewing other potential historic shipwreck sites for possible exploration and recovery. Should the Company decide that it will pursue exploration and recovery activities at other potential shipwreck sites it may be necessary to obtain permits as well as environmental permits. Some potential shipwreck sites are outside of State waters which will be very advantageous to Seafarer since state permitting agencies will not be able to continuously hamper or slow Seafarer’s operations, as demonstrated in the past.
There are a number of other significant challenges and risks regarding this type of business venture that make it a perilous business venture with the potential that the Company could fail. If the Company were to cease its operations, it is likely that there would be complete loss of all capital invested in and/or borrowed by the Company to date.
Limited Revenue and Significant Operating Losses
The Company expects to continue to incur significant operating losses and to generate negative cash flows from operating activities while developing the necessary infrastructure and technology for the exploration of historic shipwreck sites.
The Company’s ability to eliminate operating losses and to generate positive cash flow from operations in the future will depend upon a variety of factors, many of which it is unable to control. Based on our historical rate of expenditures, the Company expects to expend its available cash in three months or less from March 26, 2024. If the Company is unable to implement its business plan successfully, it may not be able to eliminate operating losses, generate positive cash flow, or achieve or sustain profitability, which would materially and adversely affect its business, operations, and financial results, as well as its ability to make payments on its debt obligations, and the Company may be forced to cease its operations. If the Company is not able to continue to raise capital, then it will be forced to cease its operations, which would likely result in both the complete loss of all capital invested in and loans provided to the Company.
The Company’s Auditor has Substantial Doubts as to the Company’s Ability to Continue as a Going Concern.
The Company has not generated any meaningful revenue since inception. Our future is dependent upon our ability to obtain financing to continue our exploration activities. We may seek additional funds through private placements of our common stock. For the past several years the Company’s auditors have issued an opinion that substantial doubt exists as to whether the Company can continue as a going concern, making it more challenging for the Company to obtain financing from investors. If the Company becomes unable to obtain financing, then it is very likely that it will be forced to cease operations and all capital invested in or loaned to the Company will be lost. Our consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event we cannot continue in existence.
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Companies such as Seafarer that do not generate significant cash flow to cover expenses must rely on outside financing, which carries a very high degree of risk due to the fact that it may become extremely challenging or impossible to obtain such outside financing. We cannot guarantee we will be successful in generating revenue in the future or be successful in raising funds through the sale of shares to pay for the Company’s business plan and expenditures. During the years ended December 31, 2023 and 2022, we did not generate any significant revenues from continuing operations. Failure to generate revenue or to raise funds could cause us to go out of business, which would result in the complete loss of all investors’ capital in the Company.
General
It has been estimated by the United Nations Educational, Scientific and Cultural Organization (“UNESCO”) that there are over three million undiscovered shipwrecks around the world and some of these shipwrecks were lost with verifiable cargoes that contained valuable materials, including artifacts and treasure. However, many of these shipwrecks may have very little archaeological or historical value, and furthermore, a high percentage of these shipwrecks would not have been carrying valuable cargo including artifacts or treasure.
The Company’s principal business plan is to develop the infrastructure and technology to engage in the rescue archaeology-sensitive exploration, recovery and conservation of historic shipwrecks and develop new technologies to vastly improve archaeology. Once artifacts have been properly conserved, they will be made available for scientific research and allowed to be displayed for the public.
The Company believes it may eventually be conducting archaeological research and rescue archaeology around the world and potentially supporting governmental or quasi-governmental organizations, universities and affiliated research groups and private research entities in the documentation and survey of historic shipwrecks based on their discretion. The business plan also includes in-depth archival research and translation of historical documents from various international archives and repositories. These translations of archival research will be made available to the country of origin, the State of Florida, university researchers, and other responsible academic parties upon reasonable request. The Company works with archaeologists to attempt to further ensure all sensitive archaeological guidelines are met or exceeded.
The Company has investigated various technologies and non-scientific equipment to help better explore or document historic shipwreck sites. To the present date, none of these technologies have been proven to have any efficacy with the exception of the SeaSearcher. The SeaSearcher has however experienced technical issues during the development phase that have caused operational delays that are expensive both in terms of repairs and down time. The Company, along with its development partner, is attempting to develop a hand held metal discriminator for precision location of ferrous and nonferrous metals based on the SeaSearcher technology, as well as other technologies to improve operating efficiencies. The Company will continue to experiment with unproven technologies and will actively work with third parties, consultants and scientists to develop its own proprietary technology which will result in extra expenses to the Company. These development expenses will continue indefinitely.
The exploration and recovery of historic shipwrecks involves a multi-year, multi-stage process. It may take many years and/or be prohibitively expensive to locate, if any are ever located at all, and recover valuable artifacts from historic shipwrecks. Locating and recovering valuable artifacts is very challenging, expensive, and rare which is why the Company is developing the SeaSearcher at significant expense. If the Company is not able to locate artifacts or treasure with significant value, then there is a high probability that the Company will face adverse consequences which would likely result in the loss of both all capital invested in or loaned to the Company.
There are a number of significant issues and challenges including, but not limited to, government regulation and/or the Company’s inability to secure permits and contracts, lack of financing, lack of revenue and cash flow and continued losses from operations that make the exploration and recovery of historic shipwrecks a speculative business venture. There is also significant expense involved in research and ongoing educational programs. Research expenses may involve paying scientists for translations, and research dues and fees for various historical entities such as archives, travel and accommodations, and research materials, as well as developmental expenses for the SeaSearcher and the continued expense of teaching our divers archaeology.
Furthermore, underwater recovery operations are inherently difficult and dangerous and may be delayed or suspended by weather, sea conditions or other natural hazards. In addition, even though sea conditions in a particular search location may be somewhat predictable, the possibility exists that unexpected conditions may occur, and already have occurred, that adversely affect the Company’s operations. It is also possible that natural hazards may prevent or significantly delay search and recovery operations.
In addition to natural hazards there may be constant repair and maintenance issues with historic shipwreck exploration and recovery vessels. The Company’s past primary exploration vessel was an older vessel that was originally used in other capacities and has been converted for use in historic shipwreck exploration and recovery operations. The repairs, maintenance and upkeep of vessels, is time consuming and can be very expensive and there may be significant periods of vessel down time that results from needed repairs being made or a lack of current financing to make repairs to the vessel.
Even if the Company is able to obtain permits for historic shipwreck projects, there is a possibility that the shipwrecks may have already been salvaged, may not be located, or may not have had anything valuable on board at the time that they sank. The potential advantage of the newly developed technology is designed to potentially eliminate or reduce these risks. It is the Company’s intent to find shipwrecks where available research suggests there were not any previous recovery efforts or past recovery efforts failed or were not completed. In the event that valuable artifacts are located and recovered, it is possible that the cost of recovery will exceed the value of the artifacts recovered. It is also possible that other entities, including both private parties and governmental entities, will assert conflicting claims and challenge the Company’s rights to the recovered artifacts.
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Moreover, there is the possibility that should the Company be successful in locating and recovering artifacts that have significant archeological and/or monetary value, that a country whose ship was salvaged may attempt to claim ownership of the artifacts by pursuing litigation. In the event that the Company is able to make a valid claim to artifacts or other items at a shipwreck site, there is a risk of theft of such items at sea, both before or after the recovery or while the artifacts are in transit to a safe destination, as well as when stored in a secured location. Such thefts may not be adequately covered by insurance. Based on a number of these and other potential issues the Company could spend a great deal of time and invest a large sum in a specific shipwreck project and receive very little or no salvage claim or revenue for its work. The Company does have plans for security at sea, however it may never implement such plans.
There is currently a limited trading market for our securities. We cannot assure when and if an active-trading market in our shares will be established, or whether any such market will be sustained or sufficiently liquid to enable holders of shares of our common stock to liquidate their investment in our company. The ability to deposit restricted shares has also become increasingly more difficult over the past several years. Some clearing firms who used to clear low priced securities for multiple brokerage firms have closed or been acquired, resulting in fewer brokerage firms that are willing or able to accept lower priced securities for deposit. Unless an investor has a large and well-established relationship with a brokerage firm, it may be very challenging and potentially expensive to deposit lower priced securities. An investor should consider consulting with professional financial advisers before making an investment in our securities. Furthermore, the sale of unregistered and restricted securities by current shareholders, including shares issued to consultants and shares issued to settle convertible promissory notes and to settle debt, may cause a significant drop in the market prices of the Company’s securities. Also, because the Company primarily finances the operations with the sale of securities, an increase to the authorized shares may need to be done from time to time.
Accordingly, an investment in Seafarer’s securities is highly speculative and extremely risky and should only be considered by those investors and lenders who do not require liquidity and who can afford to suffer a total loss of their investment. An investor should consult with professional advisers before making an investment in our securities.
Competition
There are a number of competing entities who are engaged in various aspects of the exploration and salvage of historic shipwrecks, and in the future other competitors may emerge. Some of these companies are publicly traded companies and there are a number of small private companies, as well as some loosely affiliated groups and individuals, who claim to be in this business as well. Some of these entities may be better capitalized and may have greater resources to devote to the pursuit of locating and salvaging historic shipwrecks. A few of these competing entities may also have significantly more experience than the Company in the exploration and recovery of historic shipwrecks. The Company could be at a material competitive disadvantage as compared to competing entities that are better capitalized, have more resources and/or who possess greater experience in the business. The Company will, and has, actively considered working with other entities in this industry sector.
Lack of Revenues and Cash Flow/Significant Losses from Operations
The exploration and recovery of historic shipwrecks requires a multi-year, multi-stage process and it may be many years before any revenue is generated from exploration and recovery activities, if ever. Without significant revenues and cash flow the Company does not have reliable cash flow to pay its expenses. The Company relies on outside financing in the form of equity and debt and it is possible that the Company may not be able to obtain outside financing in the future. If the Company is not able to obtain financing, then it would more than likely be forced to cease operations and all capital invested in the Company or borrowed by the Company will be lost. If the Company is unable to secure additional financing or meaningful revenues, our business may fail and our stock price may be adversely affected, which could result in a total loss of investment capital. The raising of additional financing will, as it has over the last several years, result in dilution of the Company’s current shareholders or a significant decrease in the value of the Company’s securities.
In addition, the expenses associated with operating a small publicly traded company engaged in the historic shipwreck recovery business are exorbitantly high. The cost of operations may include the cost of buying or leasing vessels, regular vessel maintenance and upkeep, ongoing vessel repairs due to wear and tear and damage by natural or human causes, docking fees, fuel, upgrades, equipment costs, personnel costs, insurance, registration costs, permitting, temporary lodging and provisions for divers and other personnel. In addition to the operating expenses, a publicly traded company also incurs the significant recurring costs of maintaining publicly traded status, which include, but are not limited to administrative, accounting, audit, executive, legal, including legal expenses required in responding to comments from permitting agencies, shutdowns, and administrative appeals.
The additional delays to the Company’s operational goals and objectives as a result of being prohibited by a state permitting agency from utilizing ground disturbing work for periods of time have been harmful as the Company must still cover overhead and fixed expenses while some activities are temporarily on hiatus. These combined expenses are particularly burdensome for a smaller public company. The recurring expenses associated with being a publicly traded company focused on the exploration and recovery of historic shipwrecks may cause the Company to be at a significant competitive disadvantage when compared to some of its competitors who are private companies or other public companies.
Due to these and other factors, the Company may not be able to continue as a going concern. If the Company is not able to continue as a going concern, it is highly likely that all capital invested in the Company or borrowed by the Company will be lost. As discussed in Note 2 – Going Concern to our consolidated financial statements for the years ended December 31, 2023 and 2022, we have experienced operating losses in every year since our inception resulting in an accumulated deficit. Based on our financial results as of December 31, 2023, there are substantial doubts about the Company’s ability to continue as a going concern. If the Company is not able to continue as a going concern, it is likely that all capital invested in the Company or borrowed by the Company will be lost.
6
The Company has experienced a net loss in every fiscal year since inception. The Company’s net losses were $3,180,646 for the year ended December 31, 2023 and $2,616,601 for the year ended December 31, 2022. The Company believes that it will continue to generate losses from its operations for the foreseeable future and the Company may not be able to generate a profit in the long-term, or ever.
Governmental Regulation
There are very strict international, federal and state laws that govern the exploration and recovery of historic shipwrecks. While the Company has been able to obtain some permits, there is no guarantee that the Company will be able to secure future permits or enter into agreements with government agencies in order to explore and salvage historic shipwrecks. Seafarer believes they are the only company to be issued a full recovery permit by FBAR since 1986, other than one entity with an Admiralty Claim. This demonstrates the difficulty of obtaining a recovery permit from FBAR. There is a risk that government entities may enact legislation that is so strict that any recovery of artifacts and cargo from historic shipwrecks will be nearly impossible. Additionally, permits and agreements with governmental agencies to conduct historic shipwreck exploration and recovery operations are expensive, in terms of both direct costs and ongoing compliance costs. It is also possible that the Company will not be successful in obtaining title or permission to excavate certain wrecks, even if the law allows it. It is possible that permits that are sought for potential future international projects may never be issued, and if issued, may not be legal or honored by the entities that issued them. For the above reasons, the Company has extended its research into shipwrecks outside of State waters.
The laws and regulations regarding the exploration and recovery of historic shipwrecks in waters controlled by the State of Florida are complex. A large amount of time and expense is required to comply with the existing laws and regulations. For example, the State of Florida has, in the past, proposed new rules and regulations regarding the exploration and recovery of shipwrecks in Florida waters. The Company believes any new rules and regulations that are implemented into law would likely increase the cost of compliance and potentially force the Company to cease its operations in Florida. It is possible that the State of Florida may enact additional laws that ultimately make it impossible to conduct business as a commercial shipwreck exploration and recovery firm. It may also be possible that the State of Florida attempts to enact legislation which altogether bans the commercial exploration and recovery of historic shipwrecks in State controlled waters.
There is a possibility that new governmental regulations could be enacted at any time at the international, federal or state level that would make it impossible for the Company to continue to attempt to locate and salvage historic shipwrecks. Governmental regulation at all levels may substantially increase the costs and expenses incurred by the Company to obtain permits and agreements and comply with the regulations and represent a significant risk to the Company and all companies engaged in the commercial exploration and recovery of historical shipwrecks. This again reflects the need of the Company to continue exploration outside of State waters.
Furthermore, governmental agencies may require various types of permits to explore shipwreck sites, and the permitting process is often lengthy and complex. Obtaining permits and entering into agreements with governmental and quasi-governmental agencies to conduct historic shipwreck exploration and recovery operations is generally a very complicated, time consuming, and expensive process. Moreover, the process of entering into agreements and/or obtaining permits may be subject to lengthy delays, and in some cases in excess of a year. Some governmental agencies may refuse to issue permits to the Company for recovery of artifacts or intentionally delay the permitting process utilizing administrative requirements as a tactic to hamper and delay the process.
The reasons for a lengthy permitting process and delays of existing permits may be due to a number of potential factors including but not limited to requests by permitting agencies for additional information, forcing the Company to perform tasks that are not required by law or regulation, addressing only one subject matter at a time instead of parallel actions and delaying the permitting process, submitted applications that need to be revised or updated, newly discovered information that needs to be added to an application or agreement, requests for core sampling, requests for carbon dating, changes to either the agreement or permit terms or revisions to other information contained in the permit, excessive administrative time lags at permitting agencies, overly aggressive interpretation of statutes by permitting authorities to attempt to hamper private entities engaged in the exploration and recovery of historic shipwrecks and related archaeological materials, etc. The length of time it takes to obtain permits or enter into agreements, and the administrative time lag by permitting agencies with regards to permitting issues may result in the Company having to expend significant resources while waiting to perform exploration and recovery work with little or no visibility as to the timing of resolving such permitting issues.
There are also strict environmental regulations associated with the exploration and recovery of historical shipwrecks. In order to explore and recover shipwreck materials that are located in state regulated waters, the Company must obtain permission from both federal and state environmental agencies in order to conduct operations. There is always the possibility that the Company could be denied access to a historic shipwreck site based on federal or state environmental concerns.
any news on these guys anywhere ?
are they digging or not ? any news on these guys anywhere ?
Quote: I'm thinking that the way they intend to excavate the treasure targets will benefit the divers doing the work and the currents will not be a factor.
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The current should not prove to be a factor. I say this because I actually know two divers who were on the wreck site many years ago. They never mentioned problems with the current.
I'm thinking that the way they intend to excavate the treasure targets will benefit the divers doing the work and the currents will not be a factor.
Sea conditions continue good. As previously stated, current conditions should not hinder experienced divers.
__________________________________
National Weather Service Marine Forecast FZUS52 KMLB
FZUS52 KMLB 031348
CWFMLB
Coastal Waters Forecast for East Central Florida
National Weather Service Melbourne FL
948 AM EDT Fri May 3 2024
Atlantic coastal waters from Flagler Beach to Jupiter Inlet out 60 nm.
Seas are provided as a range of the average height of the highest one third of the waves, along with the occasional height of the average highest ten percent of the waves.
AMZ500-032130
Synopsis for Flagler Beach to Jupiter Inlet out to 60 nm
948 AM EDT Fri May 3 2024
SYNOPSIS
Favorable boating conditions are expected through the weekend and into next week, as high pressure over the western Atlantic remains in control. Isolated showers and lightning storms will be possible over the Atlantic waters through this weekend.
GULF STREAM HAZARDS
None.
The approximate location of the west wall of the Gulf Stream based on the Real Time Ocean Forecast System as of Thursday, May 2nd.
45 nautical miles east of Ponce Inlet. 31 nautical miles east of Port Canaveral. 24 nautical miles east of Sebastian Inlet. 15 nautical miles east of Fort Pierce Inlet. 12 nautical miles east of Saint Lucie Inlet.
AMZ550-032130
Flagler Beach to Volusia-Brevard County Line 0-20 nm
948 AM EDT Fri May 3 2024
THIS AFTERNOON
East winds 5 to 10 knots. Seas around 2 feet. A dominant period 9 seconds. A light chop on the intracoastal waters. Isolated sprinkles in the morning.
TONIGHT
Southeast winds 5 to 10 knots. Seas around 2 feet. A dominant period 5 seconds. Mostly smooth on the intracoastal waters.
SATURDAY
Southeast winds 5 to 10 knots, becoming east 10 to 15 knots in the afternoon. Seas around 2 feet. A dominant period 5 seconds. A moderate chop on the intracoastal waters.
SATURDAY NIGHT
Southeast winds 10 to 15 knots, diminishing to 5 to 10 knots after midnight. Seas around 2 feet. A light chop on the intracoastal waters. A slight chance of thunderstorms in the evening. A slight chance of showers.
SUNDAY
Southeast winds 5 to 10 knots, increasing to 10 to 15 knots in the afternoon. Seas 2 to 3 feet. A moderate chop on the intracoastal waters. A slight chance of showers and thunderstorms.
SUNDAY NIGHT
Southeast winds 10 to 15 knots, diminishing to 5 to 10 knots after midnight. Seas 2 to 3 feet.
MONDAY
Southeast winds 5 to 10 knots, increasing to 10 to 15 knots in the afternoon. Seas around 2 feet.
MONDAY NIGHT
Southeast winds 10 to 15 knots, becoming south 5 to 10 knots after midnight. Seas 2 to 3 feet.
TUESDAY
South winds 5 to 10 knots, becoming southeast 10 to 15 knots in the afternoon. Seas 2 to 3 feet.
Winds and waves higher in and near thunderstorms.
AMZ552-032130
Volusia-Brevard County Line to Sebastian Inlet 0-20 nm
948 AM EDT Fri May 3 2024
THIS AFTERNOON
East winds 5 to 10 knots, increasing to 10 to 15 knots in the afternoon. Seas around 2 feet. A dominant period 9 seconds. A moderate chop on the intracoastal waters. Isolated sprinkles in the morning.
TONIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 5 seconds. A light chop on the intracoastal waters.
SATURDAY
Southeast winds 5 to 10 knots, becoming east 10 to 15 knots in the afternoon. Seas around 2 feet. A dominant period 5 seconds. A moderate chop on the intracoastal waters. A slight chance of showers and thunderstorms in the afternoon.
SATURDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A light chop on the intracoastal waters. A slight chance of showers in the evening. A slight chance of thunderstorms. A chance of showers after midnight.
SUNDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A moderate chop on the intracoastal waters. A chance of showers in the morning. A slight chance of thunderstorms. A slight chance of showers in the afternoon.
SUNDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
MONDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
MONDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
TUESDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
Winds and waves higher in and near thunderstorms.
AMZ555-032130
Sebastian Inlet to Jupiter Inlet 0-20 nm
948 AM EDT Fri May 3 2024
THIS AFTERNOON
East winds 5 to 10 knots, increasing to 10 to 15 knots in the afternoon. Seas 2 to 3 feet. A dominant period 9 seconds. A moderate chop on the intracoastal waters. A slight chance of showers in the morning.
TONIGHT
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 4 seconds. A light chop on the intracoastal waters. A slight chance of showers after midnight.
SATURDAY
East winds 5 to 10 knots, increasing to 10 to 15 knots in the afternoon. Seas around 2 feet. A dominant period 4 seconds. A moderate chop on the intracoastal waters. A slight chance of showers and thunderstorms.
SATURDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A light chop on the intracoastal waters. A slight chance of showers in the evening. A slight chance of thunderstorms. A chance of showers after midnight.
SUNDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A moderate chop on the intracoastal waters. A chance of showers in the morning. A slight chance of thunderstorms. A slight chance of showers in the afternoon.
SUNDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers and thunderstorms.
MONDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
MONDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
TUESDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
Winds and waves higher in and near thunderstorms.
AMZ570-032130
Flagler Beach to Volusia-Brevard County Line 20-60 nm
948 AM EDT Fri May 3 2024
THIS AFTERNOON
East winds 5 to 10 knots. Seas 2 to 3 feet. A dominant period 9 seconds. A slight chance of showers in the morning.
TONIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 8 seconds.
SATURDAY
Southeast winds 5 to 10 knots, becoming east 10 to 15 knots in the afternoon. Seas around 2 feet. A dominant period 8 seconds. A slight chance of showers and thunderstorms.
SATURDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers in the evening. A slight chance of thunderstorms. A chance of showers after midnight.
SUNDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A chance of showers in the morning. A slight chance of thunderstorms. A slight chance of showers in the afternoon.
SUNDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers and thunderstorms.
MONDAY
Southeast winds 10 knots. Seas 2 to 3 feet.
MONDAY NIGHT
South winds 10 to 15 knots. Seas 2 to 3 feet.
TUESDAY
South winds 10 to 15 knots. Seas 2 to 3 feet.
Winds and seas higher in and near thunderstorms.
AMZ572-032130
Volusia-Brevard County Line to Sebastian Inlet 20-60 nm
948 AM EDT Fri May 3 2024
THIS AFTERNOON
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 9 seconds. A slight chance of showers in the morning.
TONIGHT
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 5 seconds.
SATURDAY
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 5 seconds. A slight chance of showers and thunderstorms.
SATURDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers in the evening. A slight chance of thunderstorms. A chance of showers after midnight.
SUNDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A chance of showers and a slight chance of thunderstorms in the morning.
SUNDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers and thunderstorms.
MONDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
MONDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
TUESDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
Winds and seas higher in and near thunderstorms.
AMZ575-032130
Sebastian Inlet to Jupiter Inlet 20-60 nm
948 AM EDT Fri May 3 2024
THIS AFTERNOON
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 9 seconds. A slight chance of showers in the morning.
TONIGHT
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 4 seconds. A slight chance of showers after midnight.
SATURDAY
East winds 10 to 15 knots. Seas 2 to 3 feet. A dominant period 4 seconds. A slight chance of showers in the morning. A slight chance of thunderstorms. A chance of showers in the afternoon.
SATURDAY NIGHT
East winds 10 to 15 knots. Seas 2 to 3 feet. A chance of showers and a slight chance of thunderstorms.
SUNDAY
East winds 10 to 15 knots. Seas 2 to 3 feet. A chance of showers in the morning. A slight chance of thunderstorms. A slight chance of showers in the afternoon.
SUNDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers and thunderstorms.
MONDAY
Southeast winds 10 to 15 knots. Seas 2 to 3 feet.
MONDAY NIGHT
Southeast winds 10 to 15 knots. Seas 2 to 3 feet. A slight chance of showers.
TUESDAY
Southeast winds 10 knots. Seas 2 to 3 feet.
Winds and seas higher in and near thunderstorms.
Quote: If you have any thoughts that they won't dig you are totally mistaken. Not if they dig but when.
____________________________________________________
I never believed otherwise.
Let me say this regarding currents (not application of SeaSearcher but actual excavations). As a dive team member at the time, we did airlift excavation in 98 ft. of water off of Cape Hatteras. The current was that strong that dive teams had to go down via descending line. On the bottom were safety lines attaches to sand augers that the divers would grip onto, otherwise being carried away by current. Professional divers with experience can handle the Juno site currents.
$$$$ Today is the Day $$$$
$$$$ $frx $$$$
Looking forward to the dig. Hopefully the……
teredo crust doesn’t take this into 2025 or beyond. That stuff can be difficult.
Imagine taking that much time only to find out the nonferrous metals were the communication cables located by Old Charter Salvage two decades ago.
GL
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SEAFARER EXPLORATION CORP.
Seafarer is an underwater salvage and exploration company. The Company is focused on the exploration of a shipwreck through its wholly owned subsidiary, Seafarer Exploration, Inc.
Seafarer Exploration Corp. is a publicly traded underwater salvage and exploration company traded under the symbol SFRX. The principal business of the company is to develop the infrastructure necessary to engage in the archaeologically-sensitive research, documentation, exploration, recovery and conservation of historic shipwrecks. The company has secured multiple sites it believes contain historic and valuable shipwrecks. The company will use accepted archaeological methods to properly document, research and recover portions of the wrecks. Seafarer employs scientists and historians and is committed to preserving the cultural and historical significance of every wreck it finds. www.seafarercorp.com
PHOENIX, AZ / ACCESSWIRE / July 15, 2019 / The Stock Day Podcast welcomed Seafarer Exploration Corp. (OTC PINK: SFRX) (“the Company”), a publicly traded underwater salvage and exploration company. President of Legacy Angel Network, Matt Helmintoller, joined Stock Day host Everett Jolly.
Jolly began the interview by asking Helmintoller how he became involved with the Company. “My job is to find companies that have a potential for viability within the marketplace,” explained Helmintoller. He further shared that his relationship with the Company began out of curiosity and has grown into a successful partnership.
Helmintoller also explained that Legacy Angel Network took an in-depth look at the Company, including the management team and their business plan, prior to entering business with them. “What I found was that the scientific approach to what they were doing was completely unique to them,” stated Helmintoller. “You don’t see treasure hunting companies doing this stuff,” he added. “It was fascinating to me,” stated Helmintoller.
Jolly then asked about Helmintoller’s role with the Company going forward. He explained that in addition to investment funds, the Company will also have access to their corporate partners, which represent significant opportunities including additional partnerships and capabilities. “We care about the return of our investors and we care about the people that we invest in,” stated Helmintoller.
To close the interview, Helmintoller shared that the Company is one that shareholders can trust. He also added that the values of the Company are reflected in their CEO, Kyle Kennedy, and the way that he leads the management team and their projects.
To hear Matt Helmintoller’s entire interview, follow the link to the podcast here: https://audioboom.com/posts/7314810-the-stock-day-podcast-hosts-the-president-of-legacy-angel-network-to-discuss-their-partnership-wi.
United States, Florida, Palm Bay – 06/04/2019 (PRDistribution.com)
Wild Manta, LLC is pleased to announce it has entered into an agreement with Seafarer Exploration Corp (OTCMKTS: SFRX) to develop and manufacture multiple advanced underwater sensor platforms for detecting, 3D mapping and identifying shipwrecks, artifacts, and metals, including non-ferrous metals. The SeaSearcher(tm) platform houses an array of sophisticated custom-developed sensors for detection, 3D mapping, identification, interrogation, and discrimination of sub-bottom artifacts. These advanced sensors result in an integrated and eye-opening toolset for Seafarer Exploration Corp as well as an advancement of the art of undersea exploration.– Kyle Kennedy, CEO
TAMPA, Fla., April 10, 2019 /PRNewswire/ — Seafarer Exploration Corp. (OTCQB: SFRX) and Blockchain Logistech, LLC are pleased to announce a new and additional U.S. government agency has secured the services of their strategic partner Probability and Statistics, Inc. (P&S). P&S has been engaged to create and service a government agency project for the next 12 months and beyond. The purchase order is the second of other planned projects to service a group of U.S. government agencies.
Seafarer CEO Kyle Kennedy commented, “The significance of a different U.S. government agency being recruited by Seafarer to contract with P&S demonstrates the validity of the business model to build multiple revenue streams for Seafarer. Attracting these government contracts is wonderful for Seafarer shareholders and I expect them to continue to expand. But this is still the beginning as I anticipate encryption work from other business sectors outside of government entities.”
Kennedy added, “P&S has been an amazing business partner who understands the needs and nuances of a complicated, diverse and secretive clientele. The solutions offered by P&S are tailored to meet the extremely high demands of some of the most sophisticated and technologically advanced agencies in the world.”
Don Beavers, CEO of P&S, stated, “Probability and Statistics, is pleased to have received this additional government agency contract through the efforts of the Blockchain LogisTech team at Seafarer. This is the second of a total of six pending Federal level contracts for this year. We are also anticipating the awarding of Seafarer’s first State-level contract sometime in the third quarter. What an incredible first year for our strategic partnership! These additional contracts should begin providing ongoing monthly revenues to Seafarer within the next few months and these types of contracts can often renew for multiple years.”
Seafarer's Quest Issued 3-Year Renewal of Melbourne Beach Permits
TAMPA, Fla., March 12, 2019 -- Seafarer Exploration Corp. (OTCQB: SFRX) is pleased to announce it has been granted renewals to two 1A-31 Exploration Permits, each with a Dig and Identify Modification, for Areas 1 and 2 of the Melbourne Beach site from the Florida Bureau of Archaeological Research (FBAR) and the Division of Historical Resources (DHR). The DHR is issuing a 3-year extension for permit numbers 2016.05 and 2014.04 to Seafarer's Quest LLC, which will extend the permits to March 1, 2022 and January 14, 2022, respectively. Seafarer's Quest is a partnership between Seafarer Exploration and Heartland Treasure Quest.
Seafarer CEO Kyle Kennedy stated, "We are again pleased to receive these renewals as there are several areas of interest that warrant further investigation in these territories. Hopefully, some of the new technology we are developing internally will help us better understand this wreck site. Also, I'd like to thank the director and staff at FBAR and DHR for their cooperation and assistance."
Mr. Kennedy continued, "With the help of the scientists and engineers at Probability and Statistics and the Florida Institute of Technology we should be able to significantly increase our knowledge of this shipwreck and further verify its provenance. At this point, our research and investigation indicates a Spanish 1715 fleet shipwreck."
All work will be conducted under the terms of an exploration permit issued by the Florida Department of State, Bureau of Archaeological Research, Division of Historical Resources.
TAMPA, Fla., March 4, 2019 /PRNewswire/ — Seafarer Exploration Corp. (OTCQB: SFRX) and Blockchain Logistech, LLC are pleased to announce their initial client contract to secure the services of their strategic partner Probability and Statistics, Inc. (P&S). The client has engaged P&S to create and service a US government agency project for the next 12 months and beyond. The purchase order is the first of other planned projects to service a group of US government agencies.
Seafarer CEO Kyle Kennedy stated, “I am happy that we have generated a revenue stream for the company with such a prestigious agency. While I am restricted from commenting on specific details, the initial purchase order will pay Seafarer a small fixed revenue monthly for 12 months and then a maintenance package after that. I have stated for some time now in our filings and in public that it is the Company’s intent to build revenues with P&S through blockchain encryption and other related services. While this purchase order is just a start, it’s a great start. I am tremendously thankful for the dedication, persistence, and professionalism of everyone at P&S, especially Donald Beavers and their Director of Software Development James Kreigh.”
Donald Beavers, CEO of P&S, commented, “It is exciting to see this team’s careful planning and vision come together successfully. We already have other scopes of work in process on which we continue to build. The unique, highly technical services and expertise that we each offer will help both companies build a successful and long-term relationship. I agree with Mr. Kennedy that we are off to a great start, a start that is honestly better than I could have previously imagined.”
PHOENIX, Feb 14, 2019 (GLOBE NEWSWIRE via COMTEX) -- PHOENIX, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Uptick Newswire Stock Day Podcast welcomed a partner of Seafarer Exploration (SFRX), a publicly traded underwater salvage and exploration company. Don Beavers, the President and CEO of Probability and Statistics, Inc., joined Stock Day host Everett Jolly to discuss their partnership with Seafarer Exploration.
Jolly began the interview by announcing to listeners that the Stock Day Podcast will be hosting a five-part special on Seafarer Exploration. Just five days ago Chief Technology Officer, Dr. Michael Torres, appeared on the Stock Day show.
Jolly then asked Beavers to share some insight into the partnership between Probability and Statistics, Inc. (P&S) and Seafarer Exploration. Beavers stated, "We started working with Seafarer last year, they're an undersea exploration company. We do a lot of high-end computational mathematics and technology integration, and we saw some opportunities to work with them. They've got a great company and we've got some technologies that really fit into what they do."
Beavers further explained that Probability and Statistics, Inc. mainly specializes in the aerospace industry, compared to Seafarer which specializes in undersea exploration.
Surprisingly, these industries have a lot in common including similar mathematical applications. The partnership between these two companies will allow Probability and Statistics, Inc. to help Seafarer Exploration track debris fields and determine the most likely location of wreckage spots. Additionally, Probability and Statistics, Inc. has extensive experience in blockchain technology which benefits the Company's search for rare metals.
Beavers also shared that P&S is also helping Seafarer Exploration develop new sensor technology that allows them to find non-ferrous metals at a much greater distance than ever before. "We have a pretty impressive engineering department here and we have some really talented scientists, and we're helping Seafarer Exploration make this part of the job a lot easier," stated Beavers.
Beavers added, "Our goal is to make Seafarer the most advanced company, technologically, out there." He continued by sharing his excitement for their partnership with Seafarer Exploration and the technology that P&S will be able to share with them. Beavers then closed by stating his amazement for the Company's findings and his own personal enjoyment in participating in the search for treasure.
To hear the complete interview for Seafarer Exploration follow the link to the podcast here: https://upticknewswire.com/featured-interview-don-beaver-president-of-probability-statistics-inc-otcpink-sfrx/
TAMPA, Fla., Sept. 5, 2018 /PRNewswire/ -- Seafarer Exploration Corporation is pleased to announce a share exchange of 60 million restricted common shares for 10,000 non-dilutive common shares of the private company Probabilities and Statistics, Inc. (P&S). Seafarer has received a one percent position in P&S.
Kyle Kennedy, CEO of SFRX, stated, "This is the first major step in building a strong symbiotic relationship with a cutting-edge technology company. P&S has the capacity to take us to a new level of technological development and ultimately potential revenues. A carefully designed program has been created between P&S and Seafarer to both monetize emerging technologies and engage Seafarer to be compensated for directing private and public companies who wish to utilize blockchain encryption to P&S for their services. P&S is a leader in blockchain encryption and already works with government, aerospace, defense contractors, banks and industries in a high-tech research, development and support role. Nobody in our industry sector remotely comes close to what Seafarer is doing. We already set the bar in everything we do, but P&S can take us into a space that far exceeds our expectations and industry norms."
Kennedy continued, "P&S has an exceptional team of scientists and engineers who can further propel our own development of technology in specialized equipment to advance our proprietary designs. Additionally, P&S has innovative computing and modeling systems which utilize a type of artificial intelligence to maximize effectiveness through its proprietary advanced algorithms. To our knowledge and extensive research, no one compares to P&S."
Mr. Kennedy added, "While ongoing upgrades to the Iron Maiden have limited the number of working days, combined with fewer days of seas under three feet, we have continued to work and find shipwreck material. We appear to have shipwreck debris from the early 1700s, but the area is large and will require more work."
Don Beavers, president of P&S, stated, "Probability and Statistics is very excited about proceeding with Seafarer Exploration on multiple projects including blockchain applications, engineering support, topographic modeling, sensor recording and analysis, and other relevant advanced technology integration. Our experience in aerospace and engineering directly translates to new and exciting opportunities in the undersea world. Combining our advanced computing with Seafarer's exploration experience brings significant potential for success. Our blockchain data systems could also provide a competitive advantage for Seafarer in both data and security. We also believe that Seafarers existing partnerships and alliances, developed over many years, will lead to potential new projects and revenues for both corporations. Our equity exchange is based, from our point of view, on the belief that our technology could push Seafarer to the very forefront of sub-aquatic exploration and its related industries and bring new revenue opportunities to both entities."
Jun 20, 2013 (ACCESSWIRE via COMTEX) -- Receipt of Permit from the U.S. Army Corps of Engineers and Easement Clears Way for Excavation to Begin on June 20th, 2013
TAMPA, FL June 20th, 2013 — Seafarer Exploration Corp. (OTCQB: SFRX), a company focused on the archaeology and research of historic shipwrecks, has crossed the final hurdles relating to the proposed excavation of a shipwreck site located off of Lantana Beach, FL with the recent receipt of a permit from the U.S Army Corps of Engineers and an underwater easement agreement from the Board of Trustees of the Internal Improvement Trust Fund. The permit from the U.S Army Corps of Engineers, a five-year approval ending on June 18th, 2018, represents the last step in Seafarer's quest to excavate this exciting shipwreck site and that effort will begin in earnest on June 20th, 2013.
Seafarer received an initial permit from the State of Florida for a shipwreck site located off of Lantana Beach, Florida in 2012. The site has recently been surveyed using a Geometrics 882 Cesium Vapor Magnetometer and this survey work showed compelling evidence that a large part of the ship lies buried in a relatively compacted area. Having completed phase I of the mapping survey and underwater video, Seafarer is now beginning phase II known as digging and identifying the wreck. Items found and documented on this site in past explorations by third parties suggest the wreck might be a French or Spanish ship from the late 1600s however it will require significantly more work and time to determine what is actually contained on the site.
Kyle Kennedy, CEO of Seafarer, commented, "We wish to thank all of the U.S. Army Corps of Engineers personnel, especially Melody White, who worked diligently on our permit until it was completed. With the final step in place, including the easement, we can now begin to focus our efforts on discovering the wreck site. We understand the great responsibility placed upon us and will strive to do our best and to exceed expectations."
Alexander Javorsky, captain of the Iron Maiden, stated, "We have the ship fine-tuned and operating very smoothly. We have assembled a competent, honest crew ready to work, which I am proud to be part of. The excitement of the crew is overwhelming, and we are eager to begin excavation."
About Seafarer Exploration Corp. (www.seafarercorp.com)
Seafarer Exploration Corp. is a publicly traded underwater salvage and exploration company. The principal business of the company is to develop the infrastructure necessary to engage in the archaeologically-sensitive research, documentation, exploration and recovery of historic shipwrecks. The company is attempting to secure multiple sites it believes may contain historic shipwrecks. The company will use accepted archaeological methods to properly document, research and recover portions of the wrecks.
TAMPA, Fla., June 5, 2013 /PRNewswire/ -- Seafarer Exploration Corp. (SFRX), a company focused on the archaeology and research of historic shipwrecks, has received an Environmental Resources Permit relating to the proposed excavation of a shipwreck site located off of Lantana Beach, FL. The permit was issued pursuant to Part IV of Chapter 373, Florida Statutes and Title 62, Florida Administrative Code from the Florida Department of Environmental Protection (DEP) and represents an important step in Seafarer's quest to excavate this exciting shipwreck site.
Seafarer received a permit from the State of Florida for a shipwreck site located off of Lantana Beach, Florida in 2012. The site has recently been surveyed using a Geometrics 882 Cesium Vapor Magnetometer and this survey work showed compelling evidence that a large part of the ship lies buried in a relatively compacted area. Having completed phase I of the mapping survey and underwater video, Seafarer is preparing to begin digging and identifying the wreck and the DEP permit is an important step in that process. Items found and documented on this site in past explorations by third parties suggest the wreck could be a French or Spanish ship from the late 1600s but it will require more work to determine with accuracy what is actually contained on the site.
"We are certainly happy to be one step closer to being able to explore and identify cultural material of the Lantana site" said Kyle Kennedy, CEO of Seafarer. "I want to personally thank the hard working individuals of the DEP who thoroughly dove, investigated and processed our 2nd site, Lantana; with special thanks to Benny Luedike who advised and proactively managed all aspects of processing the permit. I also want to thank our own Joe Albert for his continual diligence and work ethic toward completion of the permit."
Mr. Kennedy continued. "We have stayed focused on our short term goals to obtain three concurrent active sites while researching for sites four and five. We have also maintained and furthered our goals of developing long term strategic relationships with both local and foreign governments and contributing to research and education. Our crew and myself have completed hours of educational study of archaeology classes given by Dr. John de Bry, and will have continual course study into the future. We have recently completed a research trip to France with Dr. de Bry where historical research was conducted and many interesting and significant facts were discovered. Some of the research pictures can be seen on our website www.seafarercorp.com."
Archival research was conducted by Dr. de Bry in the archives in Dieppe and also in both the Archives Nationales and the Bibliotheque Nationale de France (BnF) in Paris. His research was divided into two sections; (1) looking for and acquiring data on the 1715 Fleet that sunk off Florida on July 31st of that year, and (2) searching for documents pertaining to the Jean Ribault Fleet of 1565 sunk north of Cape Canaveral. Both endeavors were supported by Seafarer. Dr. de Bry located several documents pertaining to the 1715 Fleet as well as one important document related to the loss of the 1565 French fleet. He is of the opinion that additional documents on the 1715 Fleet will be located at the Archivo General de Indias (AGI) in Seville, Spain and in the National Archives of Cuba located in Havana. Such manuscript documents will help Seafarer achieve a more accurate interpretation of the cultural history of the Site (Melbourne Beach Site).
TAMPA, Fla.--(BUSINESS WIRE)-- Seafarer Exploration Corp. (OTCBB:SFRX.ob - News) announced today the company has received from the Division of Historical Resources a 1A-31 Recovery Permit active through April 25, 2014. The permit allows Seafarer the ability to dig and recover the designated site at Juno Beach, Florida using propwash deflectors (blowers) and dredges including other smaller specialized digging equipment for sensitive archaeological work.
Kyle Kennedy, CEO, stated: "This is fantastic. We are making history by being the first Company ever in Florida to receive a three year recovery permit. My thanks goes out to our dedicated staff and shareholders who have persevered through the battles and difficult challenges we have faced over the last year and a half. Through those adversities, we have come out stronger and better. We have targeted some areas of interest with the cesium vapor magnetometer survey which we will explore initially. We have developed relationships, which should evolve into future partnerships and/or joint ventures to create an exciting year moving forward. We have explored other sites in both the US and abroad to expand our knowledge and possible opportunities. We are being given an exciting opportunity with great responsibility to perform over the next three years. This is the single most exciting time in our Company's history. We are increasing our authorized shares to allow us the ability to capitalize our operations over time and finance future projects as they present themselves. We have now positioned ourselves to maximize our true potential. And as one of our shareholders, Jeff Vortman constantly tells me "Go for the gold", we certainly intend to."
http://finance.yahoo.com/news/Seafarer-Receives-3-Year-bw-3668036658.html?x=0&.v=1 ;
TAMPA, Fla.--(BUSINESS WIRE)-- Seafarer Exploration Corp. (OTCBB:SFRX.ob - News) announces the addition of two new Board members to help guide the company into the future. R. Chip Johnson and Charles Branscum have unanimously been voted in to join the Board of Directors to fill past vacancies. Kyle Kennedy, CEO, stated: "I am very pleased to have the caliber and high professional standards of each of these successful entrepreneurs to help us build the company. Mr. Johnson has a wealth of experience in small business development and the financial markets. Mr. Branscum has the insight of management and experience with a multi-billion dollar industrial company. The diversity and independent thought each brings to the table should help Seafarer in the years to come."
Mr. Johnson stated, "I am very excited for the opportunity to serve on Seafarer's board. With 23 years in the equities industry, including co-founding one of the largest broker dealers in Florida, and with a lifetime of maritime experience, I am looking forward to applying all my resources to this project. Having worked directly with Mr. Kennedy and his team, I have been extremely impressed with their drive and determination to succeed. Most impressive and important is the level of integrity demonstrated by every member of the company. I am proud to be part of this team and help build the fundamental structure to take Seafarer to the next level."
Mr. Branscum stated, "It pleases me, having known Mr. Kennedy over the last 30 years and seeing the successful companies he has built, to be part of something so exciting as Seafarer. To help answer the challenges a small public company constantly faces can be a very rewarding experience. I look forward to using my background and experience to help build shareholder value."
http://finance.yahoo.com/news/Seafarer-Introduces-Two-New-bw-3701397921.html?x=0&.v=1
TAMPA, Fla.--(BUSINESS WIRE)-- Seafarer Exploration Corp. (OTCBB:SFRX.ob - News) announced a Hillsborough County Jury rendered a verdict on April 5th 2011 at 4:45 pm in favor of Seafarer for $5,080,000.00 in compensatory damages. After two days of evidence had been presented in court, a jury determined that hundreds of on line posts written by Sean Murphy under the screen name of "Floridatreasurecapt" were false and caused a decrease in market price. Seafarer believes collecting any or all of the damages will be difficult to do, but will continue to try to collect until paid in full.
One of the Board Directors for Seafarer, Pelle Ojasu, stated, "We are pleased with the verdict rendered by the jury and I am very happy our CEO maintained his vigilance to prosecute those who would maliciously hurt the Company and its' personnel through relentless false postings over the last year. Now that the truth has finally come out, we can continue our focus on building shareholder value and executing our business plan." Lead trial attorney, Craig A. Huffman stated, "Mr. Murphy is going to be an example of what should happen to people who sit behind screen names and negatively, falsely, impinge the lives of people and of good companies. We are not done with him yet. This will set a precedent for small market companies to fight back." Co-counsel, David Chalela, stated, "We and our client are weighing the approach to take toward punitive damages in this case to dissuade others from doing this."
http://finance.yahoo.com/news/Seafarer-Awarded-5-Million-bw-3850860812.html?x=0&.v=1 ;
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Exchange: NASDAQ OTCBB: SFRX | |
Investor Relations Contact: Kyle Kennedy, CEO
Transfer Agent: 16540 Pointe Village Dr., Suite 201 Lutz, Fl. 33558 | |
Stock Quote: Quotes are available by directing your browser to: http://www.marketwatch.com/Quotes/sfrx |
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