SFRX
Seafarer Exploration Corp.0.0027
+0.0001+6%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
26.06MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Seafarer Exploration narrowed its Q2 net loss to $644K from $981K a year earlier, while YTD through June 30, 2025, the shortfall eased 40% to $1.38M on zero revenue but slashed operating expenses 35% y/y to $1.26M, driven by 45% lower consulting costs and 79% reduced vessel maintenance amid financing constraints and weather setbacks. Cash dwindled to $3K from $24K at year-start, with operating cash burn at $1.08M offset by $1.06M in stock sales; free cash flow not disclosed in the 10-Q. Total debt swelled to $4.4M, mostly in default, alongside a $3.2M working capital deficit signaling acute liquidity strain. Permits renewed for Melbourne Beach sites through 2027. Yet defaults on multiple notes loom large.
8-K
Authorized shares doubled
Seafarer Exploration Corp. boosted its authorized common shares from 9.9 billion to 17 billion on June 16, 2025, via board action under Florida law, effective immediately. This move, reported in the June 20 filing, equips the company for potential equity raises amid exploration demands. No dilution details disclosed. Flexibility gained.
10-Q
Q1 FY2025 results
Seafarer Exploration Corp. posted no revenue for Q1 FY2025 ended March 31, 2025, down from $3,170 a year earlier, while operating expenses fell 40% year-over-year to $655,691 (derived), trimming the operating loss to $655,691 from $1,098,166. Net loss narrowed 44% to $731,401, or $0.00 per diluted share on 9.04 billion weighted-average shares, with the gap to operating loss stemming from $43,373 in interest expense and a $32,337 loss on debt extinguishment. Cash burned $593,162 in operations, offset by $599,715 from stock sales, leaving $23,677 on hand amid a $3.06 million working capital deficit and $1.13 million in notes payable, much in default. Permits for Melbourne Beach sites run through 2027. Yet defaults on multiple loans loom large.
10-K
FY2024 results
Seafarer Exploration Corp. posted a net loss of $3.9 million for FY2024 ended December 31, 2024, up 23% from $3.2 million in 2023, driven by higher operating expenses and interest costs amid ongoing shipwreck exploration efforts. Revenue dipped 15% to $16,303 from service income, with no significant artifact recoveries to boost topline. Operating expenses climbed 9% to $3.4 million, fueled by research and development on the SeaSearcher technology and inflationary pressures, while cash burn from operations hit $2.9 million, leaving just $24,000 in cash against $3.0 million in current liabilities. Yet the company raised $1.8 million via stock sales to fund vessel leases and permitting renewals through 2027. Liquidity remains razor-thin, with auditors flagging going concern doubts. Permitting delays from state agencies could stall quarterly progress.
10-Q
Q3 FY2024 results
Seafarer Exploration Corp. posted a Q3 net loss of $769,074, up slightly from $754,522 a year ago, while nine-month losses widened to $3.1M from $2.4M amid higher research spending on its SeaSearcher tech. Revenue ticked up to $6,614 from zero, but service income remains negligible at $9,784 YTD versus $590 last year, with operating expenses edging 1% higher q/q to $740K on consulting and R&D pressures, yet vessel costs dropped 36%. Cash burned $2.3M in operations, offset by $2.1M in financing, leaving $407K on hand against $2.9M current liabilities, including $1.0M notes payable and $924K in default convertibles—many collateralized. No free cash flow disclosed. Ongoing defaults risk asset foreclosures.
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