Seafarer Exploration Corp (SFRX)

[Raider21]

Quote:
For Goold, it’s simple: “Ships that belong to foreign nations remain the property of foreign nations and the wishes of foreign nations are to be respected.
_______________________________________________________

The following is a paragraph taken from a letter written by the U.S. Department of State dated on
July 24, 2018. The 'to whom' and name of U.S. Dept. of State Deputy who signed said letter are omitted.

Thank you for notifying us of your planned activities. Domestic and International law vest states with title to their sunken warships AND OTHER SHIPS subject to sovereign immunity, regardless of when the sinking occurred, unless the state expressly relinquishes title. Additionally, their resting places at sea are protected from unauthorized disturbance or commercial exploration. The United States is committed to the principle of sovereign immunity for sunken warships and cannot support any activities that would contravene that principle.

(I capitalized 'AND OTHER SHIPS'))

With this position along with the UNESCO Underwater Cultural Heritage Treaty, this industry of searching for and recovering Spanish galleon treasures is sadly a dead issue. To me its rather clear that SFRX didn't do their due diligence homework for investors.