The company is likely weeks from cash exhaustion. Traders should expect severe dilution, potential bankruptcy, or a distressed financing event. Monitor for any news on capital raises, debt restructuring, or asset sales.
Price Chart
Executive Summary
Seafarer Exploration filed an amended 10-Q (10-Q/A) solely to add iXBRL tags and fix immaterial typos; the financials are unchanged. The company remains pre-revenue with a net loss of $894,170 for Q1 2026, an accumulated deficit of $35.9M, and only $30,216 cash on hand. It has a working capital deficit of $3.33M and over $2.2M in debt in default, with management stating cash will be exhausted in less than one month. A going concern warning is explicitly raised.
Key Facts
- Net loss of $894,170 for Q1 2026, up 22% from $731,401 in Q1 2025
- Accumulated deficit of $35,880,846 as of March 31, 2026
- Cash balance of only $30,216; expected to run out in less than a month
- Working capital deficit of $3,327,699
- Total debt in default: $1,024,800 in convertible notes and $1,180,500 in notes payable (including related parties)
- No revenue generated in Q1 2026; no significant revenue expected in the foreseeable future
- Subsequent event: a lender cancelled $105,000 note in exchange for a portion of future treasure with minimum value of $3.2M
Financial Impact
Company has $30K cash vs $3.4M total liabilities; net loss $894K in Q1; cash runway under 1 month
Risk Factors
- Imminent cash depletion may force operations to cease
- Massive debt defaults could trigger lawsuits or asset foreclosure
- Continued dilutive equity issuances will further pressure the stock price
- No revenue stream; business model unproven
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-Q/A Filing (Primary) | 0001199835-26-000155 |
| Document: sfrx-ex31_1.htm | 0001199835-26-000155 |
| Document: sfrx-ex32_1.htm | 0001199835-26-000155 |
| Document: 0001199835-26-000155-index-headers.html | 0001199835-26-000155 |
| Document: 0001199835-26-000155-index.html | 0001199835-26-000155 |
| Document: 0001199835-26-000155.txt | 0001199835-26-000155 |
Track record builds as more directional reports settle.
Filters
| 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%) |
US Market Status
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