Replies to post #67876 on Seafarer Exploration Corp (SFRX)

[hedge_fun]

SFRX reminds me of some pot stocks from........

a few years back. CO and WA passed recreational marijuana and several companies applied for various trademarks stating the purpose was for the marijuana business.

The trademark applications were denied because marijuana was federally illegal even though states passed laws.

That’s what the BOD, The Baer, Timmy the PM, the AB, and these self proclaimed DD experts don’t get about salvage law. Who the heck came up with the vision of looting Spain’s cultural heritage?

I wonder how much longer the whining will continue, along with the dilution.

There are very strict international, federal and state laws that govern the exploration and recovery of historic shipwrecks. While the Company has been able to obtain some permits, there is no guarantee that the Company will be able to secure future permits or enter into agreements with government agencies in order to explore and salvage historic shipwrecks. Seafarer believes they are the only company to be issued a full recovery permit by FBAR since 1986, other than one entity with an Admiralty Claim. This demonstrates the difficulty of obtaining a recovery permit from FBAR. There is a risk that government entities may enact legislation that is so strict that any recovery of artifacts and cargo from historic shipwrecks will be nearly impossible. Additionally, permits and agreements with governmental agencies to conduct historic shipwreck exploration and recovery operations are expensive, in terms of both direct costs and ongoing compliance costs. It is also possible that the Company will not be successful in obtaining title or permission to excavate certain wrecks, even if the law allows it. It is possible that permits that are sought for potential future international projects may never be issued, and if issued, may not be legal or honored by the entities that issued them. For the above reasons, the Company has extended its research into shipwrecks outside of State waters.

At least SFRX trades. That’s really the bottom line for some.