Phoenix, Arizona–(Newsfile Corp. – May 4, 2020) – The Stock Day Podcast welcomed Seafarer Exploration Corp. (OTC Pink: SFRX) (“the Company”), a publicly-traded underwater salvage and exploration company traded under the symbol SFRX. CEO, Kyle Kennedy, and Chief Technologist and Scientist, Tim Reynolds, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the results of the Company’s first quarter. “I was overconfident that we would find treasure in our first quarter,” explained Kennedy, adding that the Company expected the development of an advanced metal discriminating technology to be completed by January of 2020. “One of the manufacturers that was making a certain piece for us, got several months behind in delivering the product to us,” said Kennedy. “What I thought we were going to receive in December, we didn’t receive until the end of March,” he added.
The conversation then turned to the impact of COVID-19. “During some of this time where we’re not using our 3D printers, we’ve used them to make masks,” shared Kennedy, adding that the Company has been working in conjunction with the American Legion to print N95 masks for first responders. “We’re trying to do productive things while we continue to move forward.”
“In defense of the first quarter, we were very successful in a lot of ways,” said Kennedy, noting that the SeaSearcher became operational during this time with 3D imaging. “Just with the imaging we have, we’ve seen hundreds of targets,” he shared. “During this quarter, we also finally got the last part of the metal interrogator,” said Kennedy, adding that Reynolds was uncompromising on the performance and precision of the piece. “By being that way, we have a finished product that will now reach the depths that we want it to reach to identify and discriminate against various types of metals – gold, silver, iron, and etc.”
Jolly then asked Reynolds about the progress of the SeaSearcher. “The SeaSearcher, like Kyle said, went operational in the first quarter,” said Reynolds. “By ‘operational’ what we mean is that we’ve actually started scanning the area in mass,” he continued. “We’ve scanned hundreds of acres of area already, and have identified over a thousand target areas,” said Reynolds. “The SeaSearcher right now, even without the metal interrogation or discrimination element of it, is actually identifying target areas and working in concert with the prior data to help drive the operations.” He then shared that the integration of the metal interrogating technology is currently undergoing final calibration steps and will be used to help isolate the current target areas.
“When is your outlook on the timeframe for that?” asked Jolly. “Some things get driven by weather, so the best I can say is the very near term,” said Reynolds. “We’re out there every day that the weather permits and pushing forward.”
“Where do you see the company going from here, and do you have any outlooks for the second and third quarters?” asked Jolly. “As you can imagine, this device is going to change the world for us. It is absolutely amazing what it does. And because of that, I’m very confident for this next quarter, because now we have the finished product in our hands,” said Kennedy. “Also during the first quarter, we started on some new technology to prevent cave-ins in the holes that we dig. We also are working on a device to bring fresh water down to the bottom so that we can see better,” shared Kennedy. “So, when you look at all of the technologies that we’re bringing to the table, the only thing we’ve got is pure upside. I just can’t be more positive than where we’re at right now.”
About Seafarer Exploration:
Seafarer Exploration Corp. is a publicly-traded underwater salvage and exploration company traded under the symbol SFRX. The principal business of the company is to develop the infrastructure necessary to engage in the archaeologically-sensitive research, documentation, exploration, recovery, and conservation of historic shipwrecks. The company has secured multiple sites it believes contain historic and valuable shipwrecks. The company will use accepted archaeological methods to properly document, research, and recover portions of the wrecks. Seafarer employs scientists and historians and is committed to preserving the cultural and historical significance of every wreck it finds.
The press release may include certain statements that are not descriptions of historical facts but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as ”may,” ”expects,” ”believes,” ”anticipates,” ”intends,” ”projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that was reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
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