Seafarer Exploration Corp (SFRX)

[hedge_fun]

They were seeking the permit before they......

scanned the Juno site.

They worked tirelessly on getting the permit at Juno because they have identified ~150 areas of interest using the seasearcher..

Because?

Plus, they spent years seeking the Admiralty Claim long before Torres or Reynolds were ever in the picture.

Their previous claim was that Judd had them searching in the wrong area and was trying to defraud SFRX. The AWOL affiliate claimed the treasure was 5 miles from the ballast pile. Someone else added, the treasure fell out through a hole in the hull.

Now it's under worm poop?

For years they have suggested treasure was at Juno, perhaps as much as $15B because Gary Randolph, VP of Mel Fisher's Treasures, made the valuation. Gary EMPHATICALLY denied that claim. Feel free to reach out to Gary, but Kyle mentioned his valuation in a deposition about 10 years ago.

So, for at least a decade, and without any evidence, there has always been a suggestion treasure at Juno. In that time, they spent shareholder resources on Juno, which was a previously searched site by multiple salvage companies dating back to the '80's.

But they also did some CYA.

The Juno Beach Shipwreck site is an extremely speculative and highly risky project as far as the potential for the Company to ever locate valuable artifacts or treasure. Although the Company has recovered various artifacts that it believes are interesting, it has not located artifacts and/or treasure of any significant value from the Juno Beach Shipwreck site. There is also possibility that there are no artifacts of significant value located at the Juno Beach shipwreck site. Even if there are valuable artifacts and/or treasure located at the site, recovering them may be extremely difficult or impossible due to a variety of challenges that include, but are not limited to; inclement weather, hazardous ocean conditions, large amounts of sand that cover large areas of the site, lack the necessary equipment to be able to dig deep enough into the sand, ongoing maintenance and repair issues with the Company’s main salvage vessel, permitting issues and/or a lack of financing, etc.

Moreover, the Company does not currently have sufficient data to positively identify the potential Juno Beach shipwreck, or its country of origin, and it is therefore not possible to determine whether or not the ship was originally carrying cargo of any significant value. Only remnants and scattered pieces of a sunken ship have been located to date; no main shipwreck body has been located. It is also possible that a ship began to break up on the site but the main body of the ship actually sank in another area that is outside of the designated Juno Beach site area and all that was left on the Juno Beach site were scattered remnants of the original ship that have little or no archeological or actual value. There is a possibility that there are no artifacts of significant value located on the Juno Beach shipwreck site. The chance that the Company will ultimately recover valuable artifacts or treasure from the Juno Beach shipwreck site is very unlikely, however the possibility exists.

https://www.sec.gov/Archives/edgar/data/1106213/000119983514000155/seafarer_10k-15939.htm