Seafarer Exploration Corp (SFRX)

[SOCOM]

Your emphasis was on the wrong sentence."

During the nine months ended September 30, 2012, the holder converted the note in full into 15,524,573 shares of the Company’s common stock. At December 31, 2011, the convertible note payable, at fair value, was recorded at $119,557."

It should be noted that this note and the other have already been converted. Therefore there are NO notes which are outstanding that include a discount as Falcone stated! You should also go back and check all of the benificial ownership filings, it will go a long way in explaining why these notes are of no consequence. The fact that they are SEC reporting means you can review all of the filings and track the shares and who owns them. Although they are not required to list names in the Ks and Qs, they are required to file the names of the Companies or Family members. There is a lot of work involved in truely understanding the company's finances, simply quoting something from the FINS does not tell the whole story. If in fact you are interested in the whole story, as long as I am around it will be told. I have reviewed all of the filings, if there was something out there that concerned me I would not be investing in SFRX. Of course everyone has their own tolerance for risk and that is why everyone should do their OWN DD.

SOCOM

MM76
SOCOM