Every 10-Q that SEAFARER EXPLORATION CORP (SFRX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SFRX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SFRX filings page.
SEAFARER EXPLORATION CORP (SFRX) filed an amended quarterly report for the period ended June 30, 2026, primarily to add iXBRL exhibits and correct minor typographical errors; the underlying financial and narrative disclosures are unchanged. The company focuses on archaeologically sensitive exploration and recovery of historic shipwrecks and related technologies.
SFRX reported no revenue for the quarter or year-to-date. For the six months ended June 30, 2026, it recorded a net loss of $1,291,630, bringing the accumulated deficit to $36,278,306. Total assets were only $174,251 against $3,515,644 of liabilities, including $3,481,346 of current liabilities, resulting in a working capital deficit of $3,453,726. Cash was $25,267, and management states that at its historical spending rate it expects to use available cash in less than one month from the report filing date.
The report includes a substantial doubt going-concern disclosure. SFRX has convertible notes and other notes payable in default totaling over $2.1 million, some secured by company assets. The company warns that lenders could seek foreclosure, potentially forcing it to scale back or cease operations. Convertible debt is deeply dilutive, with approximately 863,533,859 shares of common stock underlying outstanding convertible notes and warrants, on top of 11,019,410,363 common shares outstanding at June 30, 2026.
Seafarer Exploration Corp. reported no revenue for the three- and six-month periods ended June 30, 2026, while continuing to focus on historic shipwreck exploration and related technologies. For the six months, the company recorded a net loss of $1,291,630, slightly improved from 2025, and an accumulated deficit of $36,278,306.
Liquidity is extremely tight: cash was only $25,267 and the company reported a working capital deficit of $3,453,726, with current liabilities of $3,481,346 far exceeding current assets. Management states there is substantial doubt about its ability to continue as a going concern and expects existing cash to be expended in less than one month from the report filing date.
The capital structure is highly levered and dilutive. At June 30, 2026, Seafarer had 11,019,410,363 common shares outstanding and significant convertible notes and notes payable in default, totaling over $2.1 million, many held by related parties. The company continues to issue stock for cash, services, and debt conversions, and notes that conversions are typically highly dilutive and may pressure the share price. Some debt was settled, including a $105,000 note canceled in exchange for a share of future treasure, generating a gain, but overall leverage and default risk remain high.
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. reported a third‑quarter net loss of $680,133 and a nine‑month net loss of $2,055,690. The company recorded no service revenue in Q3 and continues to spend on operations, including $183,698 for research and development in the quarter. Cash was $24,653 and total liabilities were $3,586,151 at September 30, 2025, resulting in a stockholders’ deficit of $(3,314,346).
Management states there is “substantial doubt” about the ability to continue as a going concern and expects available cash to be expended in less than one month from the report’s filing date. The balance sheet shows multiple obligations in default, including $400,300 of convertible notes payable in default and $1,112,000 of notes payable in default. Deferred revenue remains $140,000 tied to prior SeaSearcher services not yet performed. As context, shares outstanding were 9,835,377,858 as of November 13, 2025.
Seafarer Exploration Corp (SFRX) reported a six-month net loss of $1,375,557 and had a working capital deficit of $3,204,442. The company states it expects to exhaust available cash in less than three months from August 14, 2025, raising substantial doubt about its ability to continue as a going concern. Management does not expect significant revenues in the foreseeable future and plans to seek financing through issuance of common stock and debt. Outstanding common shares total in the billions, and large numbers of common shares underlie convertible notes and warrants, indicating potential dilution.