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Gman, that's a good idea.
It would be a better idea if someone found some coins, found which way the current was pushing them to shore. Shot a back compass heading and had sfrx survey backwards from the beach to the wreck.
Hot Spurs, He didn't say and I didn't ask. Like I said, I'm the Biggest Skeptic in the world. That's why I ask him if he could find a Treasure Wreck in Georgia waters.
I was floored when he sent me the satellite picture. He had the north GPS exactly right and the west number was very close to being exact.
If he hasn't sent me those numbers in Georgia. I wouldn't even be entertaining his technology.
My opinion is that it's worth looking into. Especially since he isn't selling the information. He just wants a signed contract for a small percentage of whatever is recovered. I don't know if sfrx would be interested or not, but in my opinion what do they have to lose, besides a few days of diving those sites?
jrf30, As you know I want SFRX to find Treasure.
I had a retired NASA Scientist get a hold of me last week.
He did some satellite work for me. I am the Biggest Skeptic in the World in that type of technology. I ask him to look for a certain Treasure wreck in Georgia that I have the numbers for. These numbers aren't on any chart.
He came back with GPS numbers within 200 yards of the wreck.
I ask him to provide me with pictures of Juno and Melbourne.
He came back with GPS numbers of a treasure wreck about a mile or so above Jupiter Inlet and also a Treasure wreck off of Melbourne with the wreck in shallow water.
If KK is interested. I will not give up the numbers, but I am willing to give KK's number out to this guy if he wants to talk to him.
Like I said, I am the Biggest Skeptic of this technology, but I also can't explain how he found the wreck in Georgia and wasn't off the mark by much.
Let me know and No I won't call KK.
NOAD, I'll be happy and as long as the sfrx shareholders are happy.
In my opinion that's all that matters.
Good luck sfrx. I don't want to be a goat for having my friends buy this stock, so go and get some treasure on deck.
Raider21, Give sfrx a chance. jrf30, is a respectable man that has done a lot of DD on his own. Let's wait and see what happens in the near future.
If sfrx gets the permit to dive on the section that they covet? Let's give them a chance to find something. If the permit is expected this week and sfrx says they know where treasure is located on the other site, then there should be no reason for SFRX not to produce treasure on deck within 30 days of getting the new permit.
Forget about them not finding treasure in the past or only having one experienced treasure hunter in the group. Investors NEED to believe in SFRX. SFRX claims they know where the Treasure is located. Once they have that new permit. Give them the chance to prove they can recover it.
If SFRX finds treasure within 30 days of getting the new permit? Everyone will be happy. If they don't? Then let them communicate publicly and tell everyone why they haven't. Sounds like a Plan to me.
SmallCapsMarket,
Thanks for the CEO updates. At least this company knows how to keep investors informed. I especially liked reading the CEO's comment that he is not going to work through the Winter, as he considers it a waste of investors money, when you can only work a few days a month due to the weather conditions in the Winter. Finally, a smart CEO that has the investors interests in mind.
I also saw where the company is working on other partnerships. Any idea what those projects are?
It's refreshing to see a Treasure Hunting Company that has experience and knows what it is doing.
Goldenboy, No he had no association with Odyssey Marine. He owned his own co.
Can you provide a link about the company with all the experts getting out of the treasure hunting business. I KNOW that you can't be talking about EXPL.
Perhaps you are referring to the company with no money in the bank and no experts in charge. Now that I can believe, but I still wish them luck.
Hopefully we will see video soon of EXPL back on the wreck that they found.
Raider21, I still monitor the board. I don't want anyone to think I quit posting because I was asked to.
I quit posting for 2 reasons.
I am embarrassed that I recommend sfrx to several people that invested.
I also don't think this dog will ever hunt.
I wish them luck and I think they are going to need it.
Back to the shadows.
I'm really impressed with the management team at EXPL. They didn't waste money working on the water in the Winter of 2014 and if I read their Facebook page correctly. They don't plan on wasting money during the Winter of 2015.
It's refreshing to see an experienced management team and Project Manager that knows that it's a waste of investors money to work through the Winter on the water, when diving operations are limited to only a few days a month.
SmallcapsMarket, what most investors don't realize is that many of the wrecks that sunk, have fishing nets caught in them.
The good news (to me) is that EXPLGIVES has a one atmosphere suit and it may take some time, but the nets can be cut away.
I am really excited about this company.
I will be following them and I do expect them to be successful.
It may be a while before I can buy shares, but when I have the money. I will be buying.
I am definitely going to keep an eye on EXPL. This company knows how to conduct a search for a wreck. From sidescanning the site to doing actual Research. Then they go out and actually get the right tools for salvage.
Lastly, they communicate with Investors
( unlike some other treasure looking company.)
And to top it off, EXPL gives an Honest assessment of what they think the treasure is worth. They don't try and over inflate the value of the treasure and claim it is worth a half Billion Dollars.
Thanks for the welcome. It's refreshing to see a company that has so many experts and also understands that Research is a very important part of salvage work.
This looks like it is going to be a very successful company. I'm also glad to see that they understand that communication is what Successful Companies do.
Can't wait to see more videos of this company in action.
Looks good. Small amount of shares out.
I am really impressed with the deep water salvage experience that Endurance has.
It's refreshing to find a penny stock company with a lot of experience in their field and a people in charge that have a long list finding what they went looking for.
SMC, Do you have any information on the wreck in the Indian Ocean that is mentioned as a target by EXPL?
Smallcapsmarket, Thanks for the DD.
It appears that Endurance received a pretty good deal on the cost of the leases.
This appears to be a worthwhile treasure salvage company, to keep an eye on.
Does anyone have an information on the owner? I don't recall the name.
I checked out the company Facebook page.
They have some impressive deep water salvage equipment.
Does EXPL own the ship, ROV, and one atmosphere suit or did they just lease it for the project?
Sure looks like they found the ship they had researched.
Nice sidescan pictures of the wreck.
SmallCapsMarket, The one thing that I will agree with you with PUBLICLY is the 10Q. There are several things in there that I did not know until I read it the other day.
The ten million dollars of expenditure is a Red Flag to me for this reason.
Lantana? I along with others that posted about diving that site. Were vocal about the Lantana site being a wreck from the 1800's, that in their opinion after diving on it. That it did not hold Treasure. I posted my views about that and wasn't believed.
What gets me is this. SFRX has or had paid consultants on their payroll that should have uncovered that fact in their Research. ( How many millions of dollars was spent, before SFRX found out or should have found out that this wasn't a Treasure wreck.)
Juno? If I remember correctly. Raider21 posted that he talked to divers that have previously worked the Juno site and that it wasn't worth spending money on. I also believe that Basserdan posted that he thought the Juno site was nothing more then part of the wreckage that floated away from the Juno Inlet wreck.
Site #3? Do I believe that there may be some treasure somewhere on that site? Yes, but I also believe that the wood they were diving on is not the main part of the wreck with Cargo. In my opinion they may not even find the cargo this year. I base that on the Fact that SFRX has no one Running the operation that has any experience in Treasure Salvage.
Here is a part of the 10Q that no one is talking about. SFRX states that even "IF" they locate treasure at site #3. They may not be able to keep it because of Spain. I guess time will tell if that's true.
Smallcaps, I do have one question for you and I may have remembered this wrong. Did you state that SFRX stated in past filings that they had a recovery permit for site #3? If so, could you please post that Link?
In closing I want to apologize to Trueblue for recommending SFRX.
I will leave everyone to their own opinions. Mine is that too many relatives are working for SFRX and no expert is in charge. Among other things.
I wish everyone Luck. I really do.
And for the Project Manager Running the Dive Operations. This is what a cannon looks like underwater. I found this one over 30 years ago. They aren't hard to find.
Jrf30, Where is my misinformation!!!
I read the 10Q. There are family members working for sfrx and making money as employees. That is in the 10Q.
SFRX has spent over $10,000,000 on 3 salvage sites and have not found any treasure.
In any company worth their salt. You either produce for your investors or you get rid of the people that are not producing. THAT IS NOT HYPE. That is good business practice.
This company has a CEO that has admitted that he knows nothing about Treasure Salvage. That's OK, as long as you hire a Project Manager that does know something about Treasure Salvage. The sfrx project manager admitted that he knows nothing about Treasure Salvage.
Since SFRX has spent $10,000,000 with no one with Treasure Salvage experience in charge and they have not found any Treasure. What does that tell you?
It tells me that the people in charge don't know what they are doing. It doesn't take a Brain Surgeon to figure that out.
Even Trueblue stated that you need someone in charge that is an expert.
Yes in charge. Not someone giving you lip service that that they Listen to an expert.
Einstein said it best. " Doing the same thing over and over again, and expecting a different result. Is the definition of insanity."
If something isn't working? Change it.
Gman3343, I think a lot of people should be calling Kyle and asking questions. Why you ask? Anyone that read the 10Q should have questions.
I would want to know what they spent $10,000,000 on over the years. I'm not an sfrx expert, so maybe someone will chime in if I'm wrong.
Melbourne is called site #3, by sfrx.
Does that mean that ten million dollars has been spent by sfrx on 3 sites?
Juno, Lantana, and Melbourne, or are there more?
Now don't get me wrong. Treasure Salvage costs money, But, if you've spent $10,000,000 and haven't found any treasure and you have a Project Manager that goes on the company Facebook page and admits that he has no treasure salvage experience. Don't you think it's time to hire someone with Treasure Salvage experience AND PUT THEM IN CHARGE?
I would also want to know if the Project Manager is another relative of the CEO.
The 10Q is full of references of CEO's relatives working for sfrx.
Smallcaps is right about one thing in my opinion. The ceo's relatives are making money off of sfrx and that's alright if the CEO turns this $10 million dollar loser around.
He should start by putting an experienced person in charge, not second or third in charge.
I still believe that there is Treasure in site #3. The question is: Is sfrx going to spend another $10 million dollars to find it.
While you're asking questions. You might want to ask what kind of treasure hunting experience that the Texas Divers had when they were hired? I know for a Fact that there are a lot of experienced Florida treasure divers that are out of work.
I ask that question, because as far as I know. Treasure diving in Texas is not allowed.
I think sfrx might be able to make money for the investors, but I only think that will happen with a change of management on the water.
Good luck sfrx.
Small caps, I don't expect Kyle to listen to me. I would however hope that he would listen to some of the big investors.
After reading the 10Q, it seems that just about everyone that works for sfrx is related. That would be OK if sfrx was doing good and had a decent track record.
Let's Go back over the years.
Lantana was a bust. Anyone with experience running the company would have known that. How much did sfrx blow that year? Over a million dollars?
Then there was Juno. Another million dollars wasted. My point is this, who ever is running the show. Does not know enough about treasure salvage.
Actually, the project director admitted that on Facebook last week. Is the Project Director another relative of the CEO?
Raider21, I read your post. I have to agree. If sfrx only had $7125 in cash on June 30th. I have to wonder if Ace was in fact owed back pay.
I'm beginning to think he and the Texas divers were owed back pay and sfrx got an infusion of money a day or two before jrf30, talked to Ace.
I really hope that this works out for sfrx.
10 Q, interesting reading.
http://www.sec.gov/Archives/edgar/data/1106213/000119983515000391/seafarer_10q-16529.htm
I was not aware that SFRX only had $7125 in the bank on June 30. 2015.
I really want SFRX to succeed. The 10Q sounds scary, when the company keeps saying that there is no money and they might go out of business.
I don't want to see that happen. I think there is treasure on site #3.
Kyle if the company is so cash strapped. Why are you paying someone $36,000 a year to do backround checks? ( Waste of Money ). Why are you paying rent for a divers house and paying $28,000 a year to house them? ( waste of money)
SFRX has a Big salvage boat. I would be extremely surprised if there were not enough bunks on the salvage boat to accommodate all the the diving crew. If money is tight and it is according to the 10Q. Why isn't someone in charge cutting costs and saving money? It isn't that hard.
Kyle, lay off all everyone in the company over the Winter. Keep the office going and save a ton of money.
According to the 10Q almost everyone I read about except for the divers are relatives of the CEO. Nothing wrong with that, except that I think someone with experience needs to be in charge.
jrf30, If that is not even close.( $100k)
A month. Could you please provide a link showing how many millions of dollars that SFRX has spent on salvage operations over the last 5 years?
How much money a year on travel and expenses.
How much to buy that Mag they said they bought?
Gman3343, I couldn't agree more. The lack of communication from sfrx, should be an embarrassment to whoever is running the company.
The number one rule that I have in Business is Communication. I tell people that I do business with that I want information. Whether that information is positive or negative. I want to know what is going on.
It isn't hard to put out weekly updates on Facebook. The updates could be as simple as this: The divers are diving everyday, weather permitting and are finding pieces of wood.
Or the survey crew is out magging and they located some anomalies that we will investigate.
Or lastly, the weather had been bad and the boat has not left the dock in the last few days.
Any Communication would help the investors.
Anvil, You are correct in your assessment. It costs around $100K a month for a shallow water salvage. That's one reason that I keep saying that sfrx is wasting around a half million dollars a year by working through the Winter.
call any other treasure salvage company in Florida and ask them if they dive through the Winter? I bet they tell you No, they don't.
If this company is going to be successful? Maybe it's time that others ask some questions. Or maybe it's time to put someone with Treasure Salvage experience in charge.
jrf30, No disrespect to you or sfrx. I would like your opinion on something.
(NOT KYLE'S OPINION.)
You spoke at length with Ace by telephone.
If I remember correctly Ace told you that sfrx is following a Trail. I realize that sfrx is waiting for permission to move onto the next phase.
In your opinion. Since sfrx is following a trail. Do you think that sfrx should publicly release what artifacts that they are finding along that Trail?
At the very least it would be giving the investors some information. After all isn't communication one of the most important Rules in Business?
JRF30, the last time you asked me to call kyle. I did, and his voice mail was full.
His project manager did answer some of the questions that I asked on this board, on his Facebook post.
He didn't answer the one about working all Winter again. He did say on Facebook that part of his job was to utilize funding and save sfrx money. So I was wondering if he would announce on Facebook, whether he is going to save sfrx money this Winter by not diving, because of the limited diving days during the Winter.
I can wait for an answer. No hurry. I think it's more important that sfrx finds something.
The important question is, have they found any artifacts besides wood and cable?
When is phase 2 suppose to start ?
The season is coming to a close soon sfrx. Let's find something soon. Or are you going to waste money and work through the Winter again?
I hope something happens soon. There is only about 4 to 6 weeks left of decent weather.
Every other company besides sfrx lays off their divers for the winter, because it isn't cost effective.
It will be interesting to see if the project manager on Facebook that claims to watch how funds are spent. Will pay divers to work through another Winter.
I hope sfrx gets things on track for the next phase soon.
Mea culpa, I did not read the filings
If people bought on that information?
I'll you figure it out.
As Desi used to say to Lucy. "Lucy, you got some plainin to do."
Excuse me, I never saw a PR from sfrx stating that they had a Recovery Permit.
Would you show me a link?
Now I do know for a fact that others that originally found this wreck, told others that sfrx had a Recovery Permit, but I never heard that from sfrx.
As far as the 80/20 state agreement. Anyone that knows anything about the state and salvage, knows that until a salvage permit is issued. Florida isn't going to let a company keep anything they find.
Smallcaps, it's common knowledge to everyone in the treasure hunting industry that the State of Florida has an 80/20 salvage agreement with anyone that they issue a salvage lease with.
Research the Queens Jewels agreement if you want proof or ask Raider21.
So, what did Mary from the state tell you about sfrx?
Noad, I hope that phase happens quickly.
Once it does happen, it still may take awhile to put treasure on deck, but at least we should start getting updates on artifacts that are found.
I hope it happens soon.
Hot Spurs, you are correct. I did not mention the archeologists. I didn't mention them because archeologists examine artifacts. As Raider21 pointed out, archeologists do not find shipwrecks. I think one of sfrx's archeologists was mentioned in another project that didn't go so well in the Indian Ocean, I believe.
I don't know what experience divers from Texas have in Treasure Recovery? So, I didn't mention them either, because as I understand it. Texas does not allow treasure salvage work. I think Texas claims all the wrecks in their waters, but I could be wrong.
One thing, I think most of us agree on, is that we all hope sfrx finds treasure.
We may not agree on the best way to get there, but in the end. Is it worth arguing about, as long as they do find Treasure?
Hot Spurs, at least they finally released something on FB.
I personally don't see where it tells us anything about what sfrx is finding or isn't finding.
All it says is that the new operations manager has no experience in treasure hunting and goes by the plan that the ceo, cfo and others put together.
Can someone tell me what experience the ceo and cfo have in surveying or actually recovering treasure?
We know what experience the operations manager has, he told us on FB, but he didn't tell us his name.
He did say that he had a lot of experience in utilizing funds to keep costs down. That's a good thing, but was it a wise use of funds to work through last Winter? Is the plan for sfrx to pay the crews to work through this Winter?
I guess time will tell. Does anyone know when SFRX can dive the other areas on site#3 ?
Hot Spurs, Roger Smith is an archeologist that does not want Any Treasure hunters touching any Old artifacts. Whether it is on land or under the Sea.
Jim Sinclair could explain it to you better than I can. Roger Smith, also looks down his educational nose at the small group of archeologists, like Jim Sinclair, that work with treasure salvors.
Small caps, I believe you. Roger Smith does hate SFRX.
Roger Smith hates every treasure salvage company in the World.