Seafarer Exploration Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Seafarer Exploration Corp. has submitted its annual 10-K filing for the fiscal year ended December 31, 2023, detailing its financial position and operations.</b>

AI Summary

SEAFARER EXPLORATION CORP (SFRX) filed a Annual Report (10-K) with the SEC on March 26, 2024. Seafarer Exploration Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Delaware and operates within the Amusement & Recreation Services sector. The filing includes financial data for the fiscal years 2021, 2022, and 2023. Key financial statement components such as Preferred Stock (Series A and B), Common Stock, and Retained Earnings are detailed. The report was filed on March 26, 2024.

Why It Matters

For investors and stakeholders tracking SEAFARER EXPLORATION CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Seafarer Exploration Corp.'s financial performance and condition for the fiscal year 2023, which is crucial for investors to assess the company's stability and future prospects. The detailed financial data, including various stock classes and retained earnings, allows stakeholders to understand the company's capital structure and profitability trends over the past three fiscal years.

Risk Assessment

Risk Level: low — SEAFARER EXPLORATION CORP shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains historical financial information and does not indicate any immediate or significant new risks.

Analyst Insight

Investors should review the detailed financial statements and disclosures within the 10-K to understand Seafarer Exploration Corp.'s financial health and operational performance for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-26 — Filing Date (FILED AS OF DATE)
• 2023 — Fiscal Year (CONFORMED PERIOD OF REPORT)
• 2022 — Previous Fiscal Year (CONFORMED PERIOD OF REPORT)
• 2021 — Prior Fiscal Year (CONFORMED PERIOD OF REPORT)

Key Players & Entities

• SEAFARER EXPLORATION CORP (company) — FILER
• 0001106213 (company) — CENTRAL INDEX KEY
• DE (company) — STATE OF INCORPORATION
• 7900 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• TAMPA (company) — CITY
• FL (company) — STATE
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240326 (date) — FILED AS OF DATE

FAQ

Industry Context

Seafarer Exploration Corp. operates in the Amusement & Recreation Services industry, as indicated by its SIC code 7900.

Regulatory Implications

The filing is a standard Form 10-K, which is a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Review the detailed financial statements for fiscal years 2021, 2022, and 2023.
2. Analyze the company's capital structure, including preferred and common stock details.
3. Understand the company's operational context within the Amusement & Recreation Services industry.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-26: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; comparative data from previous filings would be needed for a direct comparison.

Key Financial Figures

• $0.0001 — ) of the Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
• $3,180,646 — inception. The Companys net losses were $3,180,646 for the year ended December 31, 2023 an
• $2,616,601 — or the year ended December 31, 2023 and $2,616,601 for the year ended December 31, 2022. T

Filing Documents

• sfrx-10k.htm (10-K) — 1496KB
• sfrx-ex31_1.htm (EX-31.1) — 12KB
• sfrx-ex32_1.htm (EX-32.1) — 6KB
• sc001_v1.jpg (GRAPHIC) — 6KB
• sc002_v1.jpg (GRAPHIC) — 3KB
• 0001199835-24-000134.txt (&nbsp;) — 5781KB
• sfrx-20231231.xsd (EX-101.SCH) — 48KB
• sfrx-20231231_cal.xml (EX-101.CAL) — 46KB
• sfrx-20231231_def.xml (EX-101.DEF) — 143KB
• sfrx-20231231_lab.xml (EX-101.LAB) — 260KB
• sfrx-20231231_pre.xml (EX-101.PRE) — 224KB
• sfrx-10k_htm.xml (XML) — 989KB

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 9 ITEM 1B. UNRESOLVED STAFF COMMENTS 9 ITEM 2.

PROPERTIES

PROPERTIES 9 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 10 ITEM 4. MINE SAFETY DISCLOSURES 10 PART II ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 11 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 13 ITEM 7.

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 13 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 19 ITEM 8.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 20 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES 21 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 21 ITEM 9B. OTHER INFORMATION 22 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 23 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 24 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 25 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 26 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 26 PART IV ITEM 15. EXHIBITS 27

SIGNATURES

SIGNATURES 28 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISKS in this Form 10-K under Item 1. Business, Item 2. Properties, Item 3. Legal Proceedings, Item 7. Managements Discussions and Analysis of Financial Condition and Results of Operations and elsewhere constitute forward-looking may cause the actual results, performance or achievements of Seafarer Exploration Corp., a company organized under the laws of Florida, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: our ability to continue as a going concern; general economic and business conditions; competition; success of operating initiatives; our ability to raise capital and the terms thereof; changes in business strategy or development plans; future revenues; the continuity, experience and quality of our management; changes in or failure to comply with government regulations or the lack of government authorization to continue our projects; and other factors referenced in the Form 10-K. The use in this Form 10-K of such words as believes, plans, anticipates, expects, intends and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. The success of the Company is dependent on our efforts and many other factors including, primarily, our ability to raise additional capital. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Such forward-looking statements are based on the beliefs and estimates of our management, as well as on assumptions based on information currently available to us at the time such statements were made. Forward looking statements are subject to a va

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View this 10-K filing on SEC EDGAR