Replies to post #43165 on Seafarer Exploration Corp (SFRX)

[diannedawn]

What a crock.

My thoughts exactly...
Reading through those court docs provided many ROTFLMAO moments.

There were many things that I considered to be a misrepresentation of circumstances.
Unfortunately, I feel, they are taking advantage of the defendant's circumstances.
As proof of this, I would point to the delay in providing the answer to his interrogatories...
The legal system in this country is slanted against people who try to defend themselves pro se.

For purposes of our causes of action, and the damages caused, yes, this is our sole contention. We are not aware of any other factors. Any other factors would be affirmative defenses of the Defendant to damages.

No other factors at all...oh heck NO!

Lack of RESULTS? NOT A FACTOR...
PERMITTING issues? NOT A FACTOR...
LACK OF CASH? NOT A FACTOR...

"Recent Sales of Unregistered Securities

During the three month period ended December 31, 2014, the Company issued 336,000 of its restricted shares of its common stock to various consultants. These shares were issued for legal, executive, operations, financial and administrative consulting services. During the year ended December 31, 2014, the Company issued 12,998,141 of its restricted shares of its common stock to various consultants. These shares were issued for archeological, business advisory, legal, executive, operations, corporate and financial, corporate communications, administrative consulting services. During the year ended December 31, 2014 a related party vendor agreed to convert a portion of its debt, $7,683 into 768,293 shares of the Company’s common stock The issuance of the securities was exempt from registration under the Securities Act of 1933, as amended, in reliance on Section 4(2) of the Securities Act as a transaction by an issuer not involving any public offering and such securities were issued for services rendered to sophisticated and/or accredited investors.

The Company issued securities and reported these issuances, which were not registered under the Securities Act of 1933, as amended (the “Securities Act”) in our Forms 10-Q for the quarters ended March 31, 2014, June 30, 2014, and September 30, 2014. On various dates during the three month period ended December 31, 2014, the Company entered into subscription agreements to sell 20,725,000 shares of its restricted common stock to five investors and receive proceeds of $69,120. The proceeds were used for general corporate purposes, working capital and the payment of debt. During the year ended December 31, 2014 the Company entered into subscription agreements to sell 67,420,357 shares of its restricted common stock and received proceeds of $398,616. The proceeds were used for general corporate purposes, working capital and the payment of debt.

Exemptions from Registration for Sales of Restricted Securities.

The issuance of securities referenced above were issued to persons who the Company believes were either “accredited investors,” or “sophisticated investors” who, by reason of education, business acumen, experience or other factors, were fully capable of evaluating the risks and merits of an investment in us; and each had prior access to all material information about us. None of these transactions involved a public offering. An appropriate restrictive legend was placed on each certificate that has been issued, prohibiting public resale of the shares, except subject to an effective registration statement under the Securities Act of 1933, as amended (the “Act”) or in compliance with Rule 144. The Company believes that the offer and sale of these securities was exempt from the registration requirements of the Securities Act pursuant to Section 4(2) under the Securities Act of 1933 (the “Act”) thereof, and/or Regulation D. There may be additional exemptions available to the Company.

Issuance of Securities Due to Conversion of Notes and Debt

During the three month period ended December 31, 2014 the holders of two convertible promissory notes with an aggregate face value of $47,092 elected to convert the principal balance of their notes plus accrued interest into 11,917,754 shares of the Company’s common stock and the holder of a convertible note with an original face value of $107,000 elected to convert $35,000 of the principal balance of the note into 9,956,709 shares of the Company’s common stock. These amounts include 736,450 shares issued to a related party investor. During the year ended December 31, 2014 the holders of various convertible promissory notes with an aggregate face value of $249,773 elected to convert the principal balance of their notes plus accrued interest of into 61,721,283 shares of the Company’s common stock. The Company believes that the offer and sale of these securities were exempt from the registration requirements of the Securities Act pursuant to Sections 3(a)(9) under the Securities Act of 1933, as amended."

[Carini]

Those interrogatory responses are hilarious. And full of grammatical errors, as per the usual Huffman method.

Stock charts as proof of causality. Lol. Can't believe the judge didn't throw the case out right there and threaten sanctions for abusive litigation.