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Seafarer Exploration Corp. filed an amended quarterly report for the period ended March 31, 2026, mainly to add iXBRL exhibits and correct minor typographical errors, with no other changes to prior disclosures. The company reported no revenue, a net loss of $894,170, and cash of $30,216. Current liabilities of $3,365,023 versus current assets of $37,324 left a working capital deficit of $3,327,699. Management notes substantial doubt about Seafarer’s ability to continue as a going concern, citing ongoing losses, heavy reliance on external financing, and $1,024,800 of convertible notes and $1,180,500 of other notes, much of which are in default and potentially highly dilutive to shareholders.
Seafarer Exploration Corp. (SFRX) reported another loss and severe liquidity pressure for the quarter ended March 31, 2026. The company generated no revenue and posted a net loss of $894,170, increasing its accumulated deficit to $35,880,846. Cash was only $30,216 against current liabilities of $3,365,023, creating a working capital deficit of $3,327,699. Management states there is substantial doubt about the company’s ability to continue as a going concern and expects existing cash to be exhausted in less than one month. Seafarer also has $1,024,800 of convertible notes and $1,180,500 of other notes outstanding, much of it in default, with about 775 million shares potentially issuable from convertible notes and warrants. To fund operations, it issued 487,033,339 new common shares for cash and converted additional debt into equity, further diluting shareholders. The firm settled a prior legal dispute for $22,500, but overall remains highly dependent on new financing to avoid scaling back or ceasing operations.
Seafarer Exploration Corp. filed an amended annual report for 2025 mainly to add iXBRL data and fix minor typos, while its underlying results highlight severe financial strain. The company, which explores historic shipwrecks using its SeaSearcher technology, generated no revenue in 2025 and remains highly speculative.
Seafarer reported a net loss of $2,742,499 for 2025, narrower than the $3,896,719 loss in 2024, but auditors again raised substantial doubt about its ability to continue as a going concern. At December 31, 2025, it held $50,469 in cash against $3,703,260 in total liabilities and a working capital deficit of $3,573,544.
The business is funded almost entirely through issuing equity and debt, including 1,109,690,843 new common shares sold for $1,889,198 in 2025 and additional shares for services, fees, and debt settlements. Several notes and convertible notes are in default, and management warns of significant dilution risk, possible insolvency, and potential total loss of invested capital if financing cannot be secured.
Seafarer Exploration Corp. reports another year of heavy losses and severe liquidity stress as it pursues historic shipwreck exploration. For 2025, the company generated no revenue and recorded a net loss of $2,742,499, following a $3,896,719 loss in 2024. Cash was just $50,469 at year-end against current liabilities of $3,631,669, producing a working capital deficit of $3,573,544 and an accumulated deficit of $34,986,676. The auditor issued a going concern warning, citing recurring losses, negative operating cash flow and the need for additional financing. Seafarer continues to fund operations through highly dilutive equity sales and debt, issuing over 1.1 billion new shares for cash in 2025 plus additional shares for services, interest and payables, bringing common shares outstanding to more than 10.1 billion at year-end. Multiple notes and convertible notes are already in default, with the company acknowledging that failure to raise more capital or restructure debt could force it to cease operations, likely wiping out invested capital. Management highlights ongoing development of its SeaSearcher technology and permits at Florida shipwreck sites, but also emphasizes that the business remains speculative, capital intensive and unlikely to generate significant revenue for the foreseeable future.
Seafarer Exploration Corp CEO Kyle Kennedy reported a direct purchase of 12,000,000 shares of common stock on January 6, 2026 at a price of $0.0013 per share. Following this transaction, he reports direct ownership of 12,000,000 common shares. He also reports indirect beneficial ownership of 35,500,000 additional common shares held through Credo Argentarius, LLC, reflecting shares associated with that entity.
Seafarer Exploration Corp (SFRX) filed a Form 4 reporting that director Thomas B. Soeder acquired 10,000,000 shares of common stock on 11/18/2025 at a price of $0.0025 per share under transaction code J. Following this transaction, he beneficially owns 96,805,187 shares directly, plus 979,600 shares indirectly through his spouse and 900,000 shares indirectly through Anita Gallo Consulting, LLC. This filing updates the market on the director’s direct and indirect ownership stake in the company.
Seafarer Exploration Corp (SFRX) director Robert L. Kennedy reported purchasing additional common stock. On 11/18/2025, he acquired 10,000,000 shares of Seafarer Exploration common stock at a price of $0.0025 per share. After this transaction, he beneficially owned 150,340,267 shares, held in direct ownership. This filing reflects a change in insider holdings rather than company-level operations or earnings.
Seafarer Exploration Corp. (SFRX) director share purchase reported. A company director filed a Form 4 disclosing the acquisition of 10,000,000 shares of Seafarer Exploration common stock on 11/18/2025 at a price of $0.0025 per share. Following this transaction, the reporting person directly beneficially owns 59,543,555 shares of SFRX common stock. The filing is an insider ownership update and does not list any derivative securities activity.
Seafarer Exploration Corp (SFRX) director reports major share acquisition. Director Charles S. Branscum filed a Form 4 disclosing the purchase of 10,000,000 shares of Seafarer Exploration common stock on 11/18/2025 at a price of $0.0025 per share. Following this transaction, he beneficially owns 146,000,000 shares of common stock in direct ownership form. This filing simply records an insider’s increased stake and does not, by itself, change the company’s operations or financial condition.
Seafarer Exploration Corp (SFRX) disclosed an insider transaction on Form 4. Director Bradford S. Clark reported a disposition of 6,900,000 shares of common stock on 11/10/2025 at $0.0023 per share (Transaction Code J).
Following the transaction, Clark beneficially owned 49,543,555 shares, held directly. The filing reflects a change in ownership and does not provide additional financial results or guidance.