CSIMarket
 
Seafarer Exploration Corp   (SFRX)
Other Ticker:  
 
    Sector  Services    Industry Movies and Entertainment
   Industry Movies and Entertainment
   Sector  Services
 
Price: $0.0185 $0.00 1.093%
Day's High: $0.0185 Week Perf: 24.16 %
Day's Low: $ 0.02 30 Day Perf: 96.81 %
Volume (M): 4,969 52 Wk High: $ 0.02
Volume (M$): $ 92 52 Wk Avg: $0.01
Open: $0.02 52 Wk Low: $0.00



 Market Capitalization (Millions $) 142
 Shares Outstanding (Millions) 7,685
 Employees 1
 Revenues (TTM) (Millions $) -
 Net Income (TTM) (Millions $) -3
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 0

Seafarer Exploration Corp
Seafarer Exploration Corp., a Florida Corporation, was incorporated on May 28, 2003. The Company formerly operated under the name Organetix, Inc. (“Organetix”). The Companys principal business plan is to develop the infrastructure to engage in the archaeologically-sensitive exploration and recovery of historic shipwrecks.

The exploration and recovery of historic shipwrecks is by nature extremely speculative, and there is a high degree of risk inherent in this type of business venture. The exploration and recovery of historic shipwrecks involves a multi-year, multi stage process and it may take several years and/or be prohibitively expensive to locate and recover valuable artifacts, if any are ever located at all, from historic shipwreck sites. It is possible that the Company will never locate any valuable artifacts from historic shipwreck sites.

There are a number of other significant challenges and risks regarding this type of business venture that make it extremely risky with high potential that the Company could fail. If the Company were to cease its operations, it is likely that there would be complete loss of all capital invested in and/or borrowed by the Company to date.

The Company’s principal business plan is to develop the infrastructure to engage in the archaeologically-sensitive exploration and recovery of historic shipwrecks and to actively search for, explore, and recover historic shipwrecks. This type of business venture is extremely speculative in nature and there is a tremendous amount of risk that any capital invested in and/or borrowed by the Company could be lost.

It has been estimated that there are over three million undiscovered shipwrecks around the world and a few of these shipwrecks were lost with verifiable cargoes that contained valuable materials, including artifacts and treasure. However, many of these shipwrecks may have very little archaeological or historical value, and furthermore, a very high percentage of these shipwrecks would not have been carrying valuable cargo including artifacts or treasure of any kind.

The exploration and recovery of historic shipwrecks involves a multi-year, multi stage process. It may take many years and/or be prohibitively expensive to locate, if any are ever located at all, and recover valuable artifacts from historic shipwrecks. Locating and recovering valuable artifacts is very difficult and the probability that the Company will locate valuable artifacts or treasure is extremely remote. If the Company is not able to locate artifacts or treasure with significant value then there is high probability that the Company will face adverse consequences.

Underwater recovery operations are inherently difficult and dangerous and may be delayed or suspended by weather, sea conditions or other natural hazards. In addition, even though sea conditions in a particular search location may be somewhat predictable, the possibility exists that unexpected conditions may occur, and already have occurred, that adversely affect the Company’s operations. It is also possible that natural hazards may prevent or significantly delay search and recovery operations.

In addition to natural hazards there are constant repair and maintenance issues with treasure salvage vessels which tend to be older vessels that were originally used in other industries that have been converted for use in shipwreck exploration and recovery. The repairs, maintenance and upkeep of this type of vessel, and in particular the Company’s main salvage vessel, is very time consuming and expensive and there may be significant periods of vessel down time that result from lack of financing to make repairs to the vessel.

Furthermore 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. There is a substantial 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 entirely possible that the Company will not be successful in obtaining title or permission to excavate certain wrecks. 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.

Even if the Company is able to obtain permits for shipwreck projects there is a possibility that the shipwrecks may have already been salvaged or may not be found, or may not have had anything valuable on board at the time that they sank. The Company does research on its’ targeted sites, but that research may not prove out. In the event that valuable artifacts are located and recovered it is possible that the cost of recovery will be greater than the value of the artifacts recovered. It is also possible that other entities, including both private parties and governmental entities, will assert conflicting claims and challenge the Company’s rights to the recovered artifacts.

Moreover, there is the possibility that should the Company be successful in locating and salvaging artifacts that have significant archeological and/or monetary value that a country whose ship was salvaged may attempt to claim ownership of the artifacts by pursuing litigation. In the event that the Company is able to make a valid claim to artifacts or other items at a shipwreck site there is a risk of theft of such items at sea both before or after the recovery or while the artifacts are in transit to a safe destination as well as when stored in a secured location. Such thefts may not be adequately covered by insurance. Based on a number of these and other potential issues the Company could spend a great deal of time and invest a large sum in a specific shipwreck project and receive very little or no salvage claim or revenue for its work.

There are a number of significant issues and challenges including, but not limited to, government regulation and/or the Company’s inability to secure permits and contracts, lack of financing, lack of revenue and cash flow and continued losses from operations that make the exploration and recovery of historic shipwrecks a speculative and risky business venture with a high degree of risk that the Company may fail. There is a possibility that the Company will be forced to cease its operations if it is not successful in eventually locating valuable artifacts. If the Company were to cease its operations, then it is likely that there would be complete loss of all capital invested in or borrowed by the Company.



   Company Address: 14497 N. Dale Mabry Highway Tampa 33618 FL
   Company Phone Number: 448-3577   Stock Exchange / Ticker: SFRX
   SFRX is expected to report next financial results on March 30, 2024.


Customers Net Income fell by SFRX's Customers Net Profit Margin fell to

-39.54 %

2.64 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
• View Complete Report
   



Seafarer Exploration Corp

Seafarer Exploration Corp Delivers Stable Financial Performance in Third Quarter of 2023: A Balanced Books Snapshot and Future Expectations



The stock market is constantly influenced by a multitude of factors, including investor sentiment, economic conditions, and financial performance of individual companies. In this context, Seafarer Exploration Corp's financials for the third quarter of 2023 offer an intriguing snapshot of its stability despite certain challenges. This article will delve into the interesting facts surrounding the company's balanced books, revenue, and net loss figures. Additionally, we will discuss the expectations for their next financial earnings report.
Balanced Books and Share Perfection:
Seafarer Exploration Corp achieved a remarkable feat in the third quarter of 2023, with balanced books of $0.00 per share. This figure is significant when comparing it to previous years, where the company also reported a $0.00 per share value. While the lack of growth may initially seem concerning, it is crucial to note that a consistent performance indicates the company's ability to maintain its financial stability.

Seafarer Exploration Corp

Seafarer Exploration Corp Reports Impressive Second Quarter 2023 Results, Signaling Stability in the Underwater Salvage Industry

The stock market has been an unpredictable journey for many investors, with ups and downs that can leave even the most experienced individuals feeling uncertain. However, there are moments when promising financial results emerge, shining a ray of hope on the market. Seafarer Exploration Corp is one company that has recently reported encouraging figures for the fiscal span ending June 30, 2023.
Seafarer Exploration Corp, a pioneering company in the underwater salvage industry, has proven its resilience by achieving balanced books of $0.00 per share. This remarkable accomplishment represents a significant improvement compared to both last year's figure and the preceding reporting period. It indicates that the company's financial policies have been successful in stabilizing its operations.

Seafarer Exploration Corp

Seafarer Exploration Corp Reports Stable Revenue in Q1 2023; Tourism & Hotel Industry Resistance Against Market Fluctuations Noted

Seafarer Exploration Corp (SFRX) has had a disappointing financial period ending March 31, 2023. The company's per share earnings have reached 0 of $0.00, which is a decline from the $0.00 per share that was recorded a year before and from the preceding reporting period. This decline is a worrying sign for investors, as it indicates that SFRX's financial performance is deteriorating.
Furthermore, SFRX's revenue has remained unchanged at $0.00 million from what was recorded in the similar reporting period a year before and from the previous period reported. This could signify a lack of growth and suggests that the company is struggling to generate any significant revenue. This lack of growth is alarming because it implies that SFRX is not expanding its business and as a result, investor returns will be impacted.






 




Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com