Replies to post #78786 on Seafarer Exploration Corp (SFRX)

[Goldenboy17]

A few corrections are required concerning your post and question.

Throughout this summer, Queens Jewels found 1,051 silver coins and 5 gold coins on one of the 1715 wrecks. They did not 'find' a new unknown wreck. They were diving and have been diving for years on what remains of the six known 1715 wrecks that were driven into the shore at the time and have been salvaged for the last 300 years.

Simply put, those wrecks were found in the 1960s and are grandfathered in and avoid the permitting process that is required for new wrecks today.

Also, Seafarer was not 'given the permits' for the other wrecks on the Florida coast that are currently known by the state of Florida. But he will have access to them once there is financing and the SeaSearcher is proven to work. But any of those wrecks will require a permitting process. And yes, it was part of the settlement for the corruption in the department at the time.

Oddly enough, regarding those known 1715 wrecks, several years ago Kyle and SFRX won a bidding war against Brent Brisbane for the rights to the six known 1715 wrecks. But the Fishers, who were selling them, were forbidden from working with or interacting with a publicly traded company so the winning bid defaulted to Brent.

https://www.smithsonianmag.com/smart-news/divers-recover-more-than-1-million-worth-of-gold-and-silver-coins-from-310-year-old-treasure-fleet-shipwrecks-180987434/

[hedge_fun]

I'm out of pocket on a fishing trip,.....but

I have a deposition where Kyle made a similar claim about getting over 150 wrecks from Gov Crist as part of a settlement with the FBAR, and I also have the settlement itself. When I get home, I can share this with you.

I do recall Kyle (SFRX) had to pay nearly $5K in costs to the FBAR as part of the settlement.

The rights Queen's Jewels has were obtained before the passage of the Abandoned Shipwreck Act (ABA) of 1987 when it was done via a federal court. The ABA gave ownership to shipwrecks to the state, and if SFRX had any rights to any wrecks that would need to be disclosed. Further, the ABA does not cover Spanish galleons, as those are protected by Sovereign Immunity.

The ONLY rights that SFRX has to a shipwreck is the Juno site. Juno was the LAST admiralty claim issued via the federal courts, and the salvage permit issued to SFRX as part of the settlement was not even something the state had the authority to do. The admiralty claim predated the enactment of the ABA. The federal court gave the title to the Juno wreck, not the state.

SFRX has a very weak maritime legal team, and the "settlement with the state" shows just how weak that legal team was/is.

Have a great evening! I would love to hear more about Kyle's claims you say he made.

I will share what I have early next week.

[Raider21]

Quote: I just read that another corp Queens Treasure, LLC found a Spanish ship wreck and a million dollars in gold and silver. How did they get a permit for this when Kyle told me several years ago, that Seafarer was given the permits for all expected 154 shipwrecks off the coast of Fl as a payback for the millions of dollars in legal fees spent due to corrupt Florida officials turning down all permit requests over several years. Once Kyle gave this evidence to the then Governor, the Governer supposedly gave Kyle these rights
_____________________________________

Bull shit. Not surprising.

[hedge_fun]

Here’s Kyle deposition spewing off about Gov…….

Crist (ahem) giving SFRX all those wrecks.

It’s like me saying the President of the USGA “gave” me a spot in the next 20 US Opens, as long as I qualify for each one.

The crap that comes out of his mouth sometimes.

I have many back and forth emails from Kyle and the state. SFRX gets treated just as any other salvor would in dealing with the FBAR. And there isn’t one conversation where Kyle told the FBAR that a wreck was given to SFRX by Gov Crist. To the contrary.

SFRX has been told numerous times that a 1715 Fleet wreck is illegal to disturb without permission from Spain and that the wrecks are Spain’s property protected by Sovereign Immunity, yet that’s their stated business model….ie to go after these wrecks.






I will post the settlement when in a couple of days when I get back home. I had forgotten I uploaded this to Ihub.

Have a great weekend.

[hedge_fun]

Here's the Settlement Agreement SFRX/Tulco and.......

Florida agreed to.

There's no mention of 151 wrecks as Kyle mentioned in his deposition that I shared the other day. It only pertained to the Juno site.

Again, from his deposition discussing the settlement.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176777147

In late 2010 Florida made a non-negotiable offer to SFRX regarding the Juno site.




Judd and Kyle signed the agreement in December 2010. Didn't Kyle say in the depo that he has his lawyers draw it up? It doesn't appear that was the case. Further, SFRX had to pay the state's legal fees. How did SFRX spend million$ fighting the state? Isn't that what Kyle told you?




The next month they applied for the Juno Recovery Permit, which was issued a couple of months later.



Hope this clarified things for you.

The permit you referenced in regard to the treasure found this past summer is grandfathered. No such permits for Spanish sunken vessels can be issued going forward per state and federal law. Those wrecks are protected via Sovereign Immunity.

Kyle and Tim have been told this on multiple occasions by the state, but either can't comprehend it or simply ignore it, which is anything but professional. Real salvors have the utmost respect for salvage law even if they disagree with it. But again, Kyle and Tim may lack the ability to comprehend it.

GL