SEAFARER EXPLORATION CORP

Seafarer Exploration Corp. is a Florida Corporation incorporated on May 28, 2003, which focuses on the exploration, recovery, and conservation of historic shipwrecks. The company's main business plan involves developing the necessary infrastructure to conduct rescue archaeology and archaeologically-sensitive exploration and research. A key part of their strategy is to eventually generate revenue from the recovery of artifacts. This plan includes extensive archival research and the translation of historical documents sourced from archives globally. Seafarer is also dedicated to developing new technologies to enhance the efficiency and accuracy of its operations while minimizing environmental impact. Their flagship technology, SeaSearcher, is designed to improve these efficiencies. The company acknowledges that exploring and recovering historic shipwrecks is highly speculative and carries significant risk, often requiring multi-year, multi-stage processes that can span several years to decades and be very expensive, with no guarantee of locating valuable artifacts. To address these challenges, Seafarer is developing advanced technologies to conduct exploration and recovery more efficiently. The company is actively researching, exploring, and testing new technology to understand historic shipwreck sites more accurately and unobtrusively. As of the filing date, all new and unproven technology tests have failed, except for the proprietary SeaSearcher device, which can differentiate between various metals, including gold and silver. Additional scientists have been hired as consultants to aid these efforts. The development of SeaSearcher has faced numerous technical challenges due to the unique environmental and physical characteristics of the Juno Beach area, and its ongoing development costs are substantial. Seafarer believes this technological advancement is crucial for the field of archaeology.