Seafarer Exploration Corp. Files Amended 10-Q

TL;DR

Seafarer Exploration Corp. (SFX) filed an amended 10-Q for Q3 2024. Check financials.

AI Summary

Seafarer Exploration Corp. filed an amended 10-Q for the period ending September 30, 2024. The filing provides updated financial information and disclosures for the company, which operates in the amusement and recreation services sector. The company's principal executive offices are located in Tampa, Florida.

Why It Matters

This amended filing provides updated financial and operational details for Seafarer Exploration Corp., crucial for investors and stakeholders to assess the company's current standing.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous report and does not appear to contain new material adverse information.

Key Numbers

• 20240930 — Reporting Period End Date (The filing covers financial information up to this date.)
• 20241126 — Filing Date (The amended 10-Q was filed on this date.)

Key Players & Entities

• SEAFARER EXPLORATION CORP (company) — Filer
• TAMPA (location) — Business Address City
• FL (location) — Business Address State
• 813-448-3577 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.0001 — ) of the Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
• $33,628 — tible notes payable, net of discount of $33,628 and $0, respectively 116,372 - Conv
• $0 — payable, net of discount of $33,628 and $0, respectively 116,372 - Convertible
• $40,202 — 500 Notes payable, net of discount of $40,202 and $95,214, respectively 959,798 404
• $95,214 — payable, net of discount of $40,202 and $95,214, respectively 959,798 404,786 Notes

Filing Documents

• srfx-10qa.htm (10-Q/A) — 1620KB
• sfrx-ex31_1.htm (EX-31.1) — 19KB
• sfrx-ex32_1.htm (EX-32.1) — 9KB
• sc001_v1.jpg (GRAPHIC) — 5KB
• 0001199835-24-000525.txt ( ) — 7059KB
• sfrx-20240930.xsd (EX-101.SCH) — 46KB
• sfrx-20240930_cal.xml (EX-101.CAL) — 53KB
• sfrx-20240930_def.xml (EX-101.DEF) — 118KB
• sfrx-20240930_lab.xml (EX-101.LAB) — 252KB
• sfrx-20240930_pre.xml (EX-101.PRE) — 208KB
• srfx-10qa_htm.xml (XML) — 1677KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 4 Condensed Consolidated Balance Sheets: September 30, 2024 (unaudited) and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Operations: Three and nine months ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Changes in Stockholders Deficit: Three and nine months ended September 30, 2024 and 2023 6-7 Unaudited Condensed Consolidated Statements of Cash Flows: Nine months ended September 30, 2024 and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9

Managements Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

: OTHER INFORMATION

PART II: OTHER INFORMATION 34

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Recent Sales and Other Issuances of Unregistered Securities

Item 2. Recent Sales and Other Issuances of Unregistered Securities 34

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 35

Other Information

Item 5. Other Information 35

Exhibits

Item 6. Exhibits 36

SIGNATURES

SIGNATURES 37 2 Part I: Financial Information in this Form 10-Q Quarterly Report may be forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on our current expectations, estimates and projections about our business based, in part, on assumptions made by our management. These assumptions are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in this Form 10-Q Quarterly Report, under Managements Discussion and Analysis of Financial Condition and Results of Operations and in other documents which we file with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to our financial condition, factors that affect our industry, market and customer acceptance, changes in technology, fluctuations in our quarterly results, our ability to continue and manage our growth, liquidity and other capital resource issues, compliance with government regulations and permits, agreements with third parties to conduct operations, competition, fulfillment of contractual obligations by other parties and general economic conditions. Any forward-looking to reflect events or circumstances after the date of this Form 10-Q Quarterly Report, except as required by Federal Securities law. 3 Item I. Financial Statements SEAFARER EXPLORATION CORP. CONDENSED CONSOLIDATED BALANCE SHEE

View Full Filing

View this 10-Q/A filing on SEC EDGAR