SFRX on OTC

SEAFARER EXPLORATION CORP

Amusement and recreation services company, listed on OTC (SFRX). Summary from the record

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Last updated Oct 19, 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 development

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

Operating income⁵⁶⁷⁸⁹⁴-$3.3M in 2024+63% since 2019

Net income⁵⁶⁷⁸⁹⁴-$3.9M in 2024+69% since 2019

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

Period ending	2028-07-31	2027-07-31	2026-07-31	2025-12-31	2024-12-31
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 outstanding				9.5B shares	8.6B shares

Total assets⁵⁶⁷⁸⁹⁴$288.4K in 2024−73% since 2019

Total liabilities⁵⁶⁷⁸⁹⁴$3.1M in 2024+144% since 2019

Shareholders’ equity⁶⁷⁸⁹⁴-$2.8M in 2024+1262% since 2019

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.⁴

Period ending	2025-12-31	2025-06-30	2025-05-31	2024-12-31	2023-12-31
Cash	$50.5K			$23.7K	$606.3K
Prepaid consulting expense	$6.9K			$2.2K
Deposits and other prepaids	$749			$749
Total current assets	$58.1K			$26.7K
Property, plant and equipment, net	$170.7K			$250.0K
Right of use asset, net	$46.9K			$11.7K
Total Assets	$275.7K			$288.4K
Accounts payable and accrued expenses	$1.0M			$636.1K
Deferred revenue	$140.0K			$140.0K
Convertible notes payable, net of discount of $0 and $10,524, respectively				$139.5K
Convertible notes payable, related parties				$15.0K
Convertible notes payable, in default	$475.3K			$235.3K
Convertible notes payable, in default - related parties	$704.5K			$689.5K
Notes payable, net of discount of $4,783 and $67,708, respectively	$45.2K			$1.0M
Notes payable, in default	$1.1M			$112.0K
Notes payable, in default - related parties	$18.5K			$18.5K
Line of credit	$40.3K
Shareholder loan	$5.0K			$5.0K
Operating lease liability, current	$16.2K			$12.0K
Finance lease liability, current	$29.6K			$26.3K
Total current liabilities	$3.6M			$3.0M
Operating lease liability, long term	$31.0K
Finance lease liability, long-term	$40.6K			$71.5K
Total Liabilities	$3.7M			$3.1M
Common stock, $0.0001 par value - 17,000,000,000 shares authorized; 10,133,211,197 and 8,944,932,833 shares issued and outstanding at December 31, 2025 and 2024, respectively	$1.0M			$894.5K
Common stock to be issued, $0.0001 par value, 32,373,211 and 33,039,877 shares outstanding at December 31, 2025 and 2024, respectively	$3.2K			$3.3K
Additional paid in capital	$30.5M			$28.5M
Accumulated deficit	-$35.0M			-$32.2M
Total Stockholders Deficit	-$3.4M			-$2.8M	-$1.6M
Total Liabilities and Stockholders Deficit	$275.7K			$288.4K
Convertible Notes Payable, Discount	$0			-$10.5K
Preferred Stock, Par or Stated Value Per Share	$0.00			$0.00
Preferred Stock, Shares Authorized	50.0M shares			50.0M shares
Common Stock, Par or Stated Value Per Share	$0.00			$0.00
Common Stock, Shares Authorized	17.0B shares	17.0B shares	9.9B shares	17.0B shares
Common Stock, Shares, Issued	10.1B shares			8.9B shares
Common Stock, Shares, Outstanding	10.1B shares			8.9B shares

Period ending	2025-12-31	2025-06-30	2025-05-31	2024-12-31	2023-12-31
Cash	$50.5K			$23.7K	$606.3K
Prepaid consulting expense	$6.9K			$2.2K
Deposits and other prepaids	$749			$749
Total current assets	$58.1K			$26.7K
Property, plant and equipment, net	$170.7K			$250.0K
Right of use asset, net	$46.9K			$11.7K
Total Assets	$275.7K			$288.4K
Accounts payable and accrued expenses	$1.0M			$636.1K
Deferred revenue	$140.0K			$140.0K
Convertible notes payable, net of discount of $0 and $10,524, respectively				$139.5K
Convertible notes payable, related parties				$15.0K
Convertible notes payable, in default	$475.3K			$235.3K
Convertible notes payable, in default - related parties	$704.5K			$689.5K
Notes payable, net of discount of $4,783 and $67,708, respectively	$45.2K			$1.0M
Notes payable, in default	$1.1M			$112.0K
Notes payable, in default - related parties	$18.5K			$18.5K
Line of credit	$40.3K
Shareholder loan	$5.0K			$5.0K
Operating lease liability, current	$16.2K			$12.0K
Finance lease liability, current	$29.6K			$26.3K
Total current liabilities	$3.6M			$3.0M
Operating lease liability, long term	$31.0K
Finance lease liability, long-term	$40.6K			$71.5K
Total Liabilities	$3.7M			$3.1M
Common stock, $0.0001 par value - 17,000,000,000 shares authorized; 10,133,211,197 and 8,944,932,833 shares issued and outstanding at December 31, 2025 and 2024, respectively	$1.0M			$894.5K
Common stock to be issued, $0.0001 par value, 32,373,211 and 33,039,877 shares outstanding at December 31, 2025 and 2024, respectively	$3.2K			$3.3K
Additional paid in capital	$30.5M			$28.5M
Accumulated deficit	-$35.0M			-$32.2M
Total Stockholders Deficit	-$3.4M			-$2.8M	-$1.6M
Total Liabilities and Stockholders Deficit	$275.7K			$288.4K
Convertible Notes Payable, Discount	$0			-$10.5K
Preferred Stock, Par or Stated Value Per Share	$0.00			$0.00
Preferred Stock, Shares Authorized	50.0M shares			50.0M shares
Common Stock, Par or Stated Value Per Share	$0.00			$0.00
Common Stock, Shares Authorized	17.0B shares	17.0B shares	9.9B shares	17.0B shares
Common Stock, Shares, Issued	10.1B shares			8.9B shares
Common Stock, Shares, Outstanding	10.1B shares			8.9B shares

Cash from operations⁵⁶⁷⁸⁹⁴-$2.9M in 2024+73% since 2019

Capital spending⁶⁸⁴$58.4K in 2024+387% since 2020

Free cash flow⁶⁸⁴-$2.9M in 2024+54% since 2020

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Net Loss	-$2.7M	-$3.9M
Depreciation	$51.1K	$29.2K
Amortization of right of use asset, finance	$28.2K	$28.2K
Amortization of right of use asset, facilities	$18.2K	$18.5K
Amortization of loan fees	$13.1K	$130.5K
Common stock issued for services	$156.1K	$369.4K
Common stock issued in payment of a vessel rental		$30.0K
Common stock issued as equity kicker		$48.1K
Common stock issued for loan extension		$52.0K
Gain on disposal of assets		-$8.5K
Loss on extinguishment of debt	$38.1K	$196.5K
Prepaid consulting expense	-$4.7K	$16.7K
Accounts payable & accrued expenses	$445.3K	$135.7K
Operating lease liability	-$18.2K	-$18.5K
Net cash used in operating activities	-$2.0M	-$2.9M
Purchase of property, plant and equipment		-$58.4K
Net cash used in investing activities		-$58.4K
Proceeds from the issuance of common stock	$1.9M	$1.8M
Proceeds from the issuance of convertible notes payable	$90.0K	$150.0K
Proceeds from the issuance of notes payable	$50.0K	$500.0K
Proceeds from the issuance of notes payable, related party		$15.0K
Proceeds from line of credit	$152.5K
Payments on finance lease liability	-$27.5K	-$24.4K
Payments on line of credit	-$112.2K
Payments on notes payable, in default		-$100.0K
Net cash provided by financing activities	$2.0M	$2.3M
NET INCREASE(DECREASE) IN CASH	$26.8K	-$582.6K
Cash paid for interest expense		$51.8K
Right of use asset and liability	$53.4K
Principal and accrued interest converted to common stock	$13.0K	$319.8K
Stock issued for loan origination fee	$7.4K	$45.8K
Stock issued to settle accounts payable	$61.5K	$36.7K

Compare SEAFARER EXPLORATION CORP with another company

Leadership

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

Chief executive

President

Seth M. Shaw2008

2010201520202025

Chief executive officerKyle Kennedy Jan 12, 2026 to now¹²
Chief executive officerSeth M. Shaw Feb 27, 2008 to Feb 27, 2008¹³
PresidentSeth M. Shaw Feb 27, 2008 to Feb 27, 2008¹³

Board members and other officers (6)

Board memberBradford S. Clark Nov 2, 2018 to now¹⁴
Board memberThomas B. Soeder Nov 2, 2018 to now¹⁵
Board memberRobert L. Kennedy Aug 15, 2013 to now¹⁶
Board memberCharles Branscum Aug 19, 2013 to now¹⁷
Board memberPelle Ojasu Sep 21, 2010 to Sep 21, 2010¹⁸
Board memberSeth M. Shaw Feb 27, 2008 to Feb 27, 2008¹³

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

Jan 12, 2026New chief executive Kyle Kennedy becomes CEO¹²
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:

Aug 26, 20264 EDGAR
Aug 26, 20264 EDGAR
Aug 26, 20264 EDGAR
Aug 26, 20264 EDGAR
Aug 20, 202610-Q/A SEAFARER EXPLORATION CORP. FORM 10-Q/A, AMENDMENT NO. 1 EDGAR
Aug 13, 202610-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
May 15, 202610-Q/A SEAFARER EXPLORATION CORP. FORM 10-Q/A, AMENDMENT NO. 1 EDGAR
May 12, 202610-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
Apr 6, 202610-K/A SEAFARER EXPLORATION CORP. 10-K/A EDGAR
Mar 26, 202610-K SEAFARER EXPLORATION CORP. 10-K EDGAR
Jan 12, 20264 EDGAR
Nov 21, 20254 EDGAR
Nov 21, 20254 EDGAR
Nov 21, 20254 EDGAR
Nov 21, 20254 EDGAR
Nov 14, 20254 EDGAR
Nov 13, 202510-Q SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
Nov 7, 20254 EDGAR
Aug 26, 202510-Q/A SEAFARER EXPLORATION CORP. FORM 10-Q EDGAR
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.

Date	Who	Trade	Shares	Price	Value	Filing
Jan 6, 2026	Kennedy KyleCEO	Buy	12,000,000			Form 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, 2024¹⁹

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARSEAFARER EXPLORATION CORP filings on SEC EDGAR
2
SEC EDGARSEAFARER EXPLORATION CORP filings on SEC EDGAR
3
SEC EDGARSEAFARER EXPLORATION CORP annual report, Item 1 (Business)
4
SEC EDGARSEAFARER EXPLORATION CORP 10-K for fiscal 2024
5
SEC EDGARSEAFARER EXPLORATION CORP 10-K for fiscal 2019
6
SEC EDGARSEAFARER EXPLORATION CORP 10-K for fiscal 2020
7
SEC EDGARSEAFARER EXPLORATION CORP 10-K for fiscal 2021
8
SEC EDGARSEAFARER EXPLORATION CORP 10-K for fiscal 2022
9
SEC EDGARSEAFARER EXPLORATION CORP 10-K for fiscal 2023
10
SEC EDGARSEAFARER EXPLORATION CORP 10-Q for fiscal 2026
11
SEC EDGARSEAFARER EXPLORATION CORP 10-Q for fiscal 2026
12
SEC EDGARKyle Kennedy, Chief executive officer
13
SEC EDGARSeth M. Shaw, Chief executive officer
14
SEC EDGARBradford S. Clark, Board member
15
SEC EDGARThomas B. Soeder, Board member
16
SEC EDGARRobert L. Kennedy, Board member
17
SEC EDGARCharles Branscum, Board member
18
SEC EDGARPelle Ojasu, Board member
19
SEC EDGARMaximilian Thyssen SC 13G/A on SEAFARER EXPLORATION CORP