Seafarer Exploration Corp (SFRX)

[hedge_fun]

My best guess is this didn't go well.......

Did Huffman write this? It reminds me of the attempt at a Final Report on Area 2.

The Company also paid the consultant of $30,000

In February of 2017, the Company entered into an agreement with a corporation under which the corporation agreed to provide consulting services utilizing a technology to assist the Company with shipwreck site and artifact location and identification. The consultant agrees to utilize the technology system at a designated shipwreck site to ascertain and/or verify the presence of valuable artifacts in a specific area. The Company agreed to pay the consultant 5% royalty with a cap of $1,500,000 for anything of value located at the site. The Company also agreed to pay the consultant a 20% royalty from the recovery of materials located and verified by the technology in the areas surrounding the designated site. The Company also paid the consultant of $30,000 for the utilization of the technology to provide the Company with specific data under a trial survey as to the approximate location of various items of value.

Page 17 here:
https://www.sec.gov/Archives/edgar/data/1106213/000165495417010599/seafarer_10q-17270.htm