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SFRX on OTC

SEAFARER EXPLORATION CORP

SEAFARER EXPLORATION CORP is an amusement and recreation services company, listed on OTC (SFRX).1 It is headquartered in Tampa, Florida.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSFRX on OTC1
  • IndustryServices-Amusement & Recreation Services1
  • HeadquartersTampa, Florida1
  • Business address14497 N. Dale Mabry Highway, Suite 209N, Tampa, Fl 336182
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Company’s Auditor has Substantial Doubts as to the Company’s Ability to Continue as a Going Concern .3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-20488.5%Operating margin4
-23901.9%Net margin4
-15.2%Revenue growth, 20244
-$2.9MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Research and development100¢$490.2K

Out of $16.3K in revenue.4 The company lost money this year.

Financial statements

Revenue567894$16.3K in 2024+16% since 2019
0$10.0K$20.0K$30.0K2019: $14.0K$14.0K20192020: $10.6K$10.6K2020−24%2021: $23.8K$23.8K2021+124%2022: $13.0K$13.0K2022−45%2023: $19.2K$19.2K2023+48%2024: $16.3K$16.3K2024−15%
Operating income567894-$3.3M in 2024+63% since 2019
-$4.0M-$3.0M-$2.0M-$1.0M02019: -$2.1M-$2.1M20192020: -$2.7M-$2.7M2020+32%2021: -$2.3M-$2.3M2021−13%2022: -$2.4M-$2.4M2022+3%2023: -$3.1M-$3.1M2023+26%2024: -$3.3M-$3.3M2024+9%
Net income567894-$3.9M in 2024+69% since 2019
-$4.0M-$3.0M-$2.0M-$1.0M02019: -$2.3M-$2.3M20192020: -$2.7M-$2.7M2020+15%2021: -$2.6M-$2.6M2021−1%2022: -$2.6M-$2.6M2022−0%2023: -$3.2M-$3.2M2023+22%2024: -$3.9M-$3.9M2024+23%

Every line of the income statement as filed: the last 5 fiscal years, latest first.4

Period ending2028-07-312027-07-312026-07-312025-12-312024-12-31
Service income$16.3K
Consulting and contractor expenses$1.2M$1.8M
Vessel maintenance and dockage$70.6K$206.2K
Research and development$574.8K$490.2K
Professional fees$193.9K$192.5K
General and administrative expense$347.1K$460.2K
Depreciation and amortization expense$79.2K$57.3K
Rent expense$1.8K$1.7K$1.6K$28.7K$41.8K
Travel and entertainment expense$87.6K$156.1K
Total operating expenses$2.6M$3.4M
Net loss from operations-$2.6M-$3.3M
Interest expense-$152.2K-$368.5K
Gain on disposal of assets$8.5K
Loss on extinguishment of debt-$38.1K-$196.5K
Total other expenses, net-$190.4K-$556.5K
Loss before income tax-$2.7M-$3.9M
Net loss-$2.7M-$3.9M
Basic and diluted loss per share$0.00$0.00
Weighted average shares outstanding9.5B shares8.6B shares

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Corporate structure

SEAFARER EXPLORATION CORP sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SEAFARER EXPLORATION CORP

  • Maximilian Thyssen Filed SC 13G/A on SEAFARER EXPLORATION CORP, latest Apr 2, 2024 (3 filings since Feb 28, 2022)
  • SEAFARER EXPLORATION CORP Tampa, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SEAFARER EXPLORATION CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$170.7K4 Dec 31, 2025$250.0K4 Dec 31, 2024−31.7%
Finance-lease assets$59.7K4 Dec 31, 2025$87.8K4 Dec 31, 2024−32.1%
Operating-lease assets (leased space)$46.9K4 Dec 31, 2025$11.7K4 Dec 31, 2024+299.3%

Properties, in its own words

Corporate Office

The Company leases 823 square feet of office space located at 14497 North Dale Mabry Highway, Suite 209-N, Tampa, Florida 33618.

The rest of Item 2

Operations/Dive House

The Company is using temporary storage space for its equipment and is actively looking for a new location to house divers and equipment.

Item 2 of the 10-K filed Mar 26, 2026.3

Leadership

Who has led SEAFARER EXPLORATION CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Seth M. Shaw2008
  2. Kyle Kennedy2026–now

President

  1. Seth M. Shaw2008
2010201520202025
Board members and other officers (6)

Former names

  • OrganetixNov 16, 2004 to Jun 10, 20082
  • DIAMOND INTERNATIONAL GROUP INC/NY/Dec 6, 2000 to Aug 13, 20042
  • SEGWAY I CORPMay 1, 2000 to Jul 7, 20002

Timeline

  1. Jan 12, 2026New chief executive Kyle Kennedy becomes CEO12
  2. Jun 20, 20258-K Bylaws or fiscal year changed19
  3. Aug 14, 20248-K Change of auditor20
  4. Jan 16, 20248-K Regulation FD disclosure21
  5. Dec 8, 20238-K Entered a material agreement; New debt or obligation22
  6. Jul 20, 20228-K Regulation FD disclosure23
  7. Jul 14, 20228-K Regulation FD disclosure24
  8. Feb 27, 2008New chief executive Seth M. Shaw becomes CEO13

Filings

70 filings to the SEC since October 2021: 11 annual reports, 27 quarterly reports, 6 major events, 22 insider forms, 3 large holders, 1 other. The latest 20:

  1. Aug 26, 20264 EDGAR
  2. Aug 26, 20264 EDGAR
  3. Aug 26, 20264 EDGAR
  4. Aug 26, 20264 EDGAR
  5. Aug 20, 202610-Q/A SEAFARER EXPLORATION CORP. FORM 10-Q/A, AMENDMENT NO. 1 EDGAR
  6. Aug 13, 202610-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
  7. May 15, 202610-Q/A SEAFARER EXPLORATION CORP. FORM 10-Q/A, AMENDMENT NO. 1 EDGAR
  8. May 12, 202610-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
  9. Apr 6, 202610-K/A SEAFARER EXPLORATION CORP. 10-K/A EDGAR
  10. Mar 26, 202610-K SEAFARER EXPLORATION CORP. 10-K EDGAR
  11. Jan 12, 20264 EDGAR
  12. Nov 21, 20254 EDGAR
  13. Nov 21, 20254 EDGAR
  14. Nov 21, 20254 EDGAR
  15. Nov 21, 20254 EDGAR
  16. Nov 14, 20254 EDGAR
  17. Nov 13, 202510-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
  18. Nov 7, 20254 EDGAR
  19. Aug 26, 202510-Q/A SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
  20. Aug 14, 202510-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR

The 70 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 6, 2026Kennedy KyleCEOBuy12,000,000Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Maximilian ThyssenSC 13G/A, 3 filings Feb 28, 2022 to Apr 2, 202425

SEC filer profile

How SEAFARER EXPLORATION CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSEAFARER EXPLORATION CORP1
  • CIK0001106213
  • Employer ID (EIN)90-04730541
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Fiscal year endsDecember 311
  • Industry code (SIC)7900 Services-Amusement & Recreation Services1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address14497 N. Dale Mabry Highway, Suite 209N, Tampa, FL 336181
  • Phone813-448-35771
  • Shares outstanding11,040,410,363 as of Aug 13, 202611
  • Public float$28.8M as of Jun 30, 20254
  • On EDGAR sinceFeb 11, 20001
  • Filings383 in all: 10-Q (56), 8-K (51), 4 (49), 10-Q/A (41), NT 10-Q (26), 10QSB (24), 10-K/A (19), 10-K (18)1
    All 32 form types

    NT 10-K (17), 3 (16), UPLOAD (11), SC 13D (10), 10KSB (8), 8-K/A (5), 10QSB/A (3), 5 (3), DEF 14C (3), PRE 14C (3), S-8 (3), CORRESP (2), PRE 14A (2), SC 13G (2), SC 13G/A (2), 10KSB/A (1), 10SB12G (1), 15-12G (1), 5/A (1), 8-K12G3 (1), DEF 14A (1), PRER14C (1), REGDEX (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) May 10, 2011
    Latest 8-K (8-K) Jun 20, 2025

Risk factors and legal proceedings

Legal proceedings

On September 6, 2024, the Plaintiff, Diane McConnell filed suit against Seafarer Exploration Corporation and Kyle Kennedy in the County Court of Brevard County, Florida. The suit alleges breach of contract and negligence regarding the maintenance and upkeep of a residential property. Seafarer leased the property from Plaintiff, as lodging for boat captains and crew. The lease was without incident for nearly ten years. Due to the Plaintiff’s vexatious litigation strategy, the costs of litigating this matter would have exceeded $100,000. On October 30, 2025, the Parties attended mediation and Seafarer successfully negotiated the dismissal of the lawsuit with prejudice (Meaning the claims cannot be filed again at a future date). Seafarer agreed to pay Plaintiff $22,500, and each party is responsible for their respective attorney fees. Plaintiff is bound by a confidentiality agreement and no disparagement agreement barring the Plaintiff from making slanderous public comments about Seafarer. The case is closed with no further payment or performance obligations due or outstanding as of the date of the filing of this report.

The opening of Item 3, Legal Proceedings.3

Sources

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