Seafarer Exploration Corp (SFRX)

[GREGG THE GREEK]

Just had a chance to read it

very nice


here's what i like

Seafarer Exploration Corp. (OTC: SFRX) Explosive Penny Stock!


SFRX is exploding on the OTCBB!


Seafarer Exploration Corp. (OTC: SFRX) has made a highly explosive move up in recent weeks from around half a penny to recent highs of $0.04 per share. Judging by the recent press releases, penny stock speculators are betting this one goes higher.

Seafarer Exploration Corp. is a publicly traded underwater salvage and exploration company. The principal business of the company is to develop the infrastructure necessary to engage in the archaeologically-sensitive exploration, documentation, and recovery of historic shipwrecks.

The company has primarily focused on efforts to locate and recover artifacts and cargo from what is believed to be a sunken Spanish ship off the coast of Juno Beach, Florida. Management believes that if artifacts and cargo are recovered, a portion of the recovered items will be in the form of treasure such as dated coins, gold and silver bullion, and emeralds. Additionally, the company has also been mapping and surveying their second site off of Lantana Beach, Florida, with positive results.

On February 13, SFRX announced that they have finalized an agreement with Heartland Treasure Quest LLC (HTQ) for a third treasure site. HTQ has surveyed, explored, and researched the site and historical archives for over a decade. Seafarer will now start the application process for another salvage permit.

On February 21, SFRX announced that they have completed phase I on a shipwreck site located near Lantana Beach, FL and are moving into Phase II, a dig and identify permit which allows Seafarer to dig and determine various artifacts to help identify the ship. The final phase of excavation will be Phase III, full salvage.

SFRX CEO, Kyle Kennedy stated "While we have dig sites currently under permit, the Lantana Beach site represents one of our more intriguing ventures. In many cases historic shipwrecks are spread out over wide areas which can cause exploration and recovery to be very time consuming and expensive but this particular site looks very compact. We are very excited by what we discovered in Phase I and are eagerly anticipating Phase II which will begin immediately after obtaining our Department of Environmental Protection and US Army Corps of Engineers permits."

Conclusion: Currently trading at a market valuation approaching $30 million SFRX has little real fundamentals to back up this kind of valuation. They do have an exciting story however, one that has netted penny stock investors spectacular results on previous plays. Of course any announcement of any discovery or real significance could drive this stock skyward in a heartbeat.

SFRX

MM76