Quote: 15th year? Lololol I don't believe SFRX has been working that long. Oh of course if we add others into the equation then I guess you could squeeze out 15 years. Next week I figure it will be at least 17 years going on twenty! Jmo back to watching how things develop. Jmo __________________________________
Definitely the longest running clown show in the history of treasure hunting.
what you believe. It’s all been documented, as required.
I know what I’m about to share is foreign to most shareholders since most don’t actually read filings but prefer listening to paid promos with Jolly Ole Everett.
On June 4, 2008, Organetix entered into a Share Exchange Agreement with Seafarer, then a private company formed under the laws of Florida, and the shareholders of Seafarer pursuant to which Organetix agreed to acquire all of the outstanding shares of common stock of Seafarer from the Seafarer Shareholders. As consideration for the acquisition of the shares of Seafarer, Organetix agreed to issue an aggregate of 138,844,389 shares of Common stock, $0.0001 par value to the Seafarer Shareholders. This reverse merger transaction was treated retroactively as a recapitalization with Seafarer Exploration, Inc. being treated as the acquirer for accounting purposes.
On July 17, 2008, the Company filed a Certificate of Ownership to merge Seafarer Exploration Corp., a wholly-owned subsidiary of the Company into the Company with the Secretary of State of the State of Delaware. Pursuant to the Certificate of Ownership, the Company’s Articles of Incorporation were amended to change its name from Organetix, Inc. to Seafarer Exploration Corp.
Seafarer Exploration, Inc. was incorporated under the laws of the State of Florida on February 15, 2007.
Here’s a bit more info from the filing linked below I’m sure most shareholders won’t take the time to read. You’ll notice SFRX paid for research, so yeah, 15 plus years.
On July 2, 2008, the Company executed a purchase and sales agreement to acquire historical and archival research documents. In exchange for such documents, the Company is required to pay $250,000 in two equal installments, upon the execution of the agreement and on September 30, 2008. Additionally, a net 14% of the liquidated value on recovered items, net of expenses, is to be paid to the seller.
Technology
During the summer of 2003, Tulco personal mapped 8 to 10 square miles of the permitted site using the cesium vapor magnetometer, thus identifying urn fragments on and under the ocean floor. After scanning single 56-foot wide strips of the ocean bottom over the region, the separate scans were compiled to make a single map portraying the locations of the findings and the dispersal pattern. Subsequently, the team found numerous artifacts described below.
Tulco Operations
To date, Tulco has recovered over 60 cannon balls, many in almost “like new” condition. They have 4-pounders, 8-pounders, 12-pounders and even cannon balls made of stone. Speculation is that only the largest galleons would have been carrying such a variety of fire power, and the fact that the King of Spain insisted that his share of the treasure be carried only on the largest and most heavily armed galleons. In addition, Tulco has musket balls, sail rigging, ship’s timbers, ship’s nails (some over three feet long) including “Spanish-Jade.”
The most significant finds to date are the stone cannonballs and 12-pound iron cannonballs. The stone cannonballs are exactly the same physical size as an 8-pound iron cannon ball but weighs less than a pound. Considering the effort involved in carving raw rock into round 3.5-inch diameter stone cannon balls, it is management’s opinion that they would likely only be used on the most important, largest, best-armed ships of the line. The 12-pound cannon balls were fired from a cannon known as a demiculverin. This weapon was 10-feet long, weighed about 4000-pounds, and was frequently made of bronze. We believe that only a very large, heavily-armed vessel of the day would have been able to carry and fire such weapons.
Among the ballast stones at the wreck site, Tulco found hundreds of pounds of large rocks—several weighing over 100-pounds each. Further analysis has determined that this rock is in fact serpentine.
Oh, and look at the share structure way back when……
The number of outstanding shares of the registrant’s Common Stock as of June 30, 2008 was 245,781,497.
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