Seafarer Exploration Corp (OTC: SFRX)

Seafarer Exploration Corp. is a Florida corporation engaged in rescue archaeology archaeologically sensitive exploration and research recovery and conservation of historic shipwrecks and the eventual monetization of recovered artifacts. The company conducts extensive archival research and translation of historical documents from archives worldwide to support its exploration efforts. It develops proprietary technology such as the SeaSearcher device to improve the efficiency and accuracy of locating metals on shipwreck sites. Seafarer Exploration Corp. works with archaeologists to ensure compliance with archaeological guidelines and aims to eventually support governmental academic and private research entities in documenting and surveying historic shipwrecks.

Seafarer Exploration Corp. has not generated any meaningful revenue since its inception. The company anticipates future revenue from the sale of artifacts recovered from historic shipwreck sites. It does not currently have any commercial sales or service fees that produce income. Revenue generation depends on successful location recovery and conservation of valuable artifacts.

Seafarer Exploration Corp. operates in a niche industry of historic shipwreck exploration and recovery where several private and public entities compete for limited sites and funding. Some competitors possess greater financial resources and more extensive operational experience than the company. Seafarer Exploration Corp. highlights its unique status as one of only two entities to have received a full recovery permit from the Florida Bureau of Archaeological Research since 1986, which provides a regulatory advantage. The company’s development of proprietary technology such as the SeaSearcher device is intended to improve operational efficiency and differentiate it from rivals.

Seafarer Exploration Corp. expects its customers to include museums academic institutions private collectors and members of the public interested in historical artifacts. The company plans to make recovered items available for scientific research public exhibition and private sale. No specific customer names are disclosed in the filing.