In the end of 2006 a man named Judd Laird approached a broker-dealer founded by Kyle Kennedy to finance the recovery of what he claimed to be a multi-billion dollar shipwreck. After months of due diligence, Mr. Kennedy agreed to a partnership arrangement with Tulco Resources. Mr. Kennedy had a simple plan to raise the necessary money, take the Company public, recover the treasure, and make all of the shareholders wealthy. So called “industry experts” stated the value of the shipwreck at Juno Beach, Florida to be into the billions. Having previously found Ming dynasty porcelain at the wreck site, it was believed the shipwreck would contain a tremendous amount of gold and silver contraband.