Replies to post #44685 on Seafarer Exploration Corp (SFRX)

[Anvil]

JMO, as someone who has no skin in the game but has followed for a couple of years. Company is broke, yes fact. But I don't think they are out there purposely not trying to find treasure.

Yeah, they havent found crap and don't communicate, the later being their bad. But I don't think they are as hard headed as to ignore the voice of experience (i.e. Ace).

Having said that, given the low volume, coverts that need to convert, I do think this is a do or die season. Hopefully, they come up with something, or IMO, there will be no next season.

[hedge_fun]

Capted, respectfully this isn't a salvage company.....at

least not by your definition. The shell of a business is just a front for how real money is being made. Let me explain.

Kyle along with the BOD issues floorless convertible notes to lenders, most of which are related to Kyle. SFRX may lose MILLIONS, as you point out, but a lender (related or not) getting heavily discounted shares is sure to win.

Kyle's family is making money, I assure you. And as long as they can find buyers for the stock, they will continue to make money. If they can't, SFRX will find another business model.

Now, might they stumble across treasure someday? Maybe, but it will be by accident. And it's possible all notes in default would be called due and lenders, related or not, could/would foreclose on the assets.

SFRX is selling the idea of finding treasure. That's what the Madhouse TV appearance was all about. The business model is a joke. These guys are not good stewards of company funds, as you pointed out.

They haven't even explain there short term goals. Real leaders keep the vision fresh and in front of their people. Kyle's vision is to continue to fleece investors as he has for years.

Think about this. Why do most think the kannon was a plant?

Why would people think that?

That is a testament to management's character and nothing else.