Seafarer Exploration Corp (SFRX)

[diannedawn]

Sell into the announcement......I gotcha.

Can’t wait to see how this works out...
Assuming these blowhards (thar she blows!) can ever FIND “treasure”....
not just the $$$$ they bring in by selling SHARES,
the shareholders are planning to dump their shares as soon as the ticker pops on the announcement?

Gee...I wonder how long that pop will last
with everyone running for the exit at once???

But hey... the odds of KK finding anything is slim...so...

What is KK’s plan for the dwindling shares?
“Common stock, $0.0001 par value - 2,900,000,000 shares authorized”
“As of November 9, 2017, there were 2,733,297,139 shares of the registrant’s common stock, $.0001 par value per share, outstanding.”
Pretty soon his gravy train will be out of gravy...again...
“
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

During the three month period ended September 30, 2017, the Company issued or agreed to issue 6,000,000 shares of its restricted common stock for business advisory services, etc. The Company also issued or agreed to issue 1,250,000 shares of its restricted common shares as loan origination fees, including 250,000 shares to a related party lender. The Company also issued 500,000 shares of its restricted common stock as compensation for damage done by its salvage vessel to another vessel during a storm. The Company believes that the issuance of the securities was exempt from registration under the Securities Act of 1933, as amended, in reliance on Section 4(2) of the Securities Act as a transaction by an issuer not involving any public offering and based on the fact that such securities were issued for services to sophisticated or accredited investors and persons who are thoroughly familiar with the Company’s proposed business by virtue of their affiliation with the Company.

On various dates during the three month period ended September 30, 2017, the Company entered into subscription agreements to sell 130,333,333 shares of its restricted common stock in exchange for proceeds of 114,900. The proceeds received were used for general corporate purposes, working capital and the repayment of debt.

Exemptions from Registration for Sales of Restricted Securities.

The issuance of securities referenced above were issued to persons who the Company believes were either “accredited investors,” or “sophisticated investors” who, by reason of education, business acumen, experience or other factors, were fully capable of evaluating the risks and merits of an investment in us; and each had prior access to all material information about us. None of these transactions involved a public offering. An appropriate restrictive legend was placed on each certificate that has been issued, prohibiting public resale of the shares, except subject to an effective registration statement under the Securities Act of 1933, as amended (the “Act”) or in compliance with Rule 144. The Company believes that the offer and sale of these securities was exempt from the registration requirements of the Securities Act pursuant to Section 4(2) under the Securities Act of 1933 (the “Act”) thereof, and/or Regulation D. There may be additional exemptions available to the Company.

Issuance of Securities Due to Conversion of Notes and Debt

During the three month period ended September 30, 2017, the holder of a promissory notes with a remaining principal balance of $15,000 elected to convert all of the balance of the notes plus $1,328 of accrued interest into 15,000,000 shares of the Company’s common stock. The Company believes that the offer and sale of these securities were exempt from the registration requirements of the Securities Act pursuant to Sections 3(a)(9) under the Securities Act of 1933, as amended.”


Another reverse split coming???
Increase the Authorized again???
WTH...they just raised it a year ago...lol...
“ On February 24, 2017, the Board of Directors, acting as shareholders of the Preferred Shares and pursuant to their own resolution, voted to increase the authorized shares of the Corporation from 2,500,000,000 to 2,900,000,000 common shares. Such filing was processed to be effective with the State of Florida on March 2, 2017.”

What a hoot!

Really LOVE all the “related party” stuff...like their business adviser...
“The Company has a verbal agreement with a limited liability company that is controlled by a person who is related to the Company’s CEO to pay the related party consultant a minimum of $3,000 per month to provide general business consulting and assessing the Company's business and to advise management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform period background research including background checks and provide investigative information on individuals and companies and to occasional assist as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services under the direction and supervision of the Company’s CEO.”

This conpany is the epitome of everything that is wrong with stinkie pinkies.