The company is in severe financial distress with no clear path to profitability. The amendment is a technical filing and does not change the fundamental risks. Traders should be aware that the company is highly likely to cease operations without significant new financing, which would result in a total loss of investment. The stock is a penny stock with high volatility and liquidity risk.
Price Chart
Executive Summary
This is an amended 10-K filing for Seafarer Exploration Corp. solely to furnish iXBRL data and correct immaterial typographical errors. The original filing reported significant financial distress: a $3.57M working capital deficit, net losses of $2.74M in 2025, and substantial doubt about the company's ability to continue as a going concern. The company relies on outside financing and has defaulted on multiple convertible notes and loans.
Key Facts
- Amendment is for iXBRL data and typographical corrections only; no changes to financials or disclosures.
- Company has a working capital deficit of $3,573,544 as of December 31, 2025.
- Net loss for 2025 was $2,742,499, down from $3,896,719 in 2024, but still significant.
- Auditor's report states there is substantial doubt about the company's ability to continue as a going concern.
- Multiple convertible notes and loans are in default, including $475,300 in convertible notes payable and $1.11M in notes payable.
- Cash balance was $50,469 at year-end, with the company expecting to expend it in less than one month.
Financial Impact
The company has a $3.7M total liability and a $3.57M working capital deficit, with no significant revenue and a history of large net losses.
Risk Factors
- Going concern risk: The company may be forced to cease operations.
- Default risk: Multiple debt instruments are in default, exposing the company to potential foreclosure actions.
- Liquidity risk: The company has only $50,469 in cash and expects to run out in less than a month.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-K/A Filing (Primary) | 0001199835-26-000091 |
| Document: sfrx-ex31_1.htm | 0001199835-26-000091 |
| Document: sfrx-ex32_1.htm | 0001199835-26-000091 |
| Document: 0001199835-26-000091-index-headers.html | 0001199835-26-000091 |
| Document: 0001199835-26-000091-index.html | 0001199835-26-000091 |
| Document: 0001199835-26-000091.txt | 0001199835-26-000091 |
Track record builds as more directional reports settle.
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| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 9w ago | 10-Q/A | $0.001700 $0.001800 | ▼ −5.88% | ▼ −5.88% | $0.003400 (−100.00%) |
May 15, 2026 23w ago | 10-Q/A | $0.002500 $0.002300 | ▲ +8.00% | ▲ +10.12% | $0.003400 (−36.00%) |
Apr 6, 2026 29w ago | 10-K/A | $0.002500 $0.002400 | ▲ +2.04% | ▲ +11.02% | $0.003400 (−36.00%) |
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