Seafarer Exploration Corp (SFRX)

[jrf30]

Actually, they are one of the few companies that DOES have top line revenue. their approach is to clean the artifacts and then sell them. they had many artifacts and coins in the Seligman auction last year, and then had a special auction of a lot of their pewter that bought in GOOD money. So when a new financials come out it should show that revenue.

they own their equipment with no liens and have I think four or five boats now. Plus they own a company that sells Aquapulse in the USA, and have revenue off that subsidiary.

I think them diving in FL is okay, but their work in the DR is probably more of a money maker. I don't know why all of a sudden the DR government is not dividing, like they have done many times with GME in the past, but that should get settled and then they will continue there too. There's one specific shipwreck down there that is already magged that I think will be as special as the one SFRX. Instead of part of the 1715 fleet, I and some others believe it has potential to be from the 1502 fleet. Plus they have lots more pewter to bring up, and other wrecks they have been bringing things up from that should continue for a few more years down there.

Although I agree that $1 per share for the pre IPO does not leave much room for a significant gain on the IPO from that level. Unless they pull that 1502 from the water.

And it's another fishing pole in the water for me. As trueblue says, the more lines in the water the better the chances of success on one of them. (Although I pulled COMPLETELY out of two lines he still has in the water. I don't believe Wilf's company or Scott's company are worth owning in my portfolio.)

Just some more info, to hopefully answer your questions.