At least we know why Kyle delayed the 10Q, huh? Wh
Post# of 7802
Posted On: 05/23/2016 6:37:09 PM
At least we know why Kyle delayed the 10Q, huh? Why inform investors of a lack of funding? Keep 'em in the dark and blame the weather as long as you can, right?
Did they tell Mary? We should find out soon, and it looks like it's happened more than once if you read the filing at the bottom.
8. The permittee must notify the DHR's permit administrator in writing within 72 hours of any change affecting the ability or plans to conduct the permitted activities as set forth in the application and the permit, including changes in financial support , contact information, key personnel, and equipment and registered vessels used in the permitted activities.
https://www.scribd.com/doc/298727048/2014-07-...t-EXECUTED
From the annual report a few weeks back. Nothing about a LACK of funding....
On July 28, 2014, Seafarer’s Quest, LLC received a 1A-31 Exploration Permit with a Dig and Identify modification (the “Permit”) from the Florida Division of Historical Resources for an area identified off of Cape Canaveral, Florida. The Permit is active for three years from the date of issuance. Seafarer on behalf of Seafarer’s Quest, LLC, has been primarily focusing its operations on this site when the weather permits. In addition to the Company’s main salvage vessel, the Company has utilized additional owned and rented vessels in order to perform search and recovery operations at this site. Inclement weather and difficult sea conditions have hampered the Company’s ability to perform exploration operations at this site to date. An archeologist with the technical skills, knowledge, and experience from around the world was hired to help insure the integrity of the work. The Company has applied for permits from the State of Florida for two additional areas that were formerly permitted solely by an affiliate of Marine Archeological Partners, LLC. These permits have not been issued as of the filing date of this report.
See page 19 here: http://www.sec.gov/Archives/edgar/data/110621...-16823.htm
Now from the 10Q Page 25. For the first time, and about as long as they could wait they claim an issue for them is a LACK of funding.......
On July 28, 2014, Seafarer’s Quest, LLC received a 1A-31 Exploration Permit with a Dig and Identify modification (the “Permit”) from the Florida Division of Historical Resources for an area identified off of Cape Canaveral, Florida. The Permit is active for three years from the date of issuance. Seafarer, on behalf of Seafarer’s Quest, LLC, had been primarily focusing its operations on this site when the weather permits and funding is available. In addition to the Company’s main salvage vessel, the Company has utilized additional owned and rented vessels in order to perform operations. Inclement weather, difficult sea conditions, and lack of funding have hampered the Company’s ability to perform exploration operations at this site to date. An archeologist with the technical skills, knowledge, and experience from around the world was hired to help insure the integrity of the work. The Company has applied for permits from the State of Florida for two additional areas that are located in the vicinity of the permitted area, however no new permits for additional areas have been issued as of the filing date of this report.
Did they tell Mary? We should find out soon, and it looks like it's happened more than once if you read the filing at the bottom.
8. The permittee must notify the DHR's permit administrator in writing within 72 hours of any change affecting the ability or plans to conduct the permitted activities as set forth in the application and the permit, including changes in financial support , contact information, key personnel, and equipment and registered vessels used in the permitted activities.
https://www.scribd.com/doc/298727048/2014-07-...t-EXECUTED
From the annual report a few weeks back. Nothing about a LACK of funding....
On July 28, 2014, Seafarer’s Quest, LLC received a 1A-31 Exploration Permit with a Dig and Identify modification (the “Permit”) from the Florida Division of Historical Resources for an area identified off of Cape Canaveral, Florida. The Permit is active for three years from the date of issuance. Seafarer on behalf of Seafarer’s Quest, LLC, has been primarily focusing its operations on this site when the weather permits. In addition to the Company’s main salvage vessel, the Company has utilized additional owned and rented vessels in order to perform search and recovery operations at this site. Inclement weather and difficult sea conditions have hampered the Company’s ability to perform exploration operations at this site to date. An archeologist with the technical skills, knowledge, and experience from around the world was hired to help insure the integrity of the work. The Company has applied for permits from the State of Florida for two additional areas that were formerly permitted solely by an affiliate of Marine Archeological Partners, LLC. These permits have not been issued as of the filing date of this report.
See page 19 here: http://www.sec.gov/Archives/edgar/data/110621...-16823.htm
Now from the 10Q Page 25. For the first time, and about as long as they could wait they claim an issue for them is a LACK of funding.......
On July 28, 2014, Seafarer’s Quest, LLC received a 1A-31 Exploration Permit with a Dig and Identify modification (the “Permit”) from the Florida Division of Historical Resources for an area identified off of Cape Canaveral, Florida. The Permit is active for three years from the date of issuance. Seafarer, on behalf of Seafarer’s Quest, LLC, had been primarily focusing its operations on this site when the weather permits and funding is available. In addition to the Company’s main salvage vessel, the Company has utilized additional owned and rented vessels in order to perform operations. Inclement weather, difficult sea conditions, and lack of funding have hampered the Company’s ability to perform exploration operations at this site to date. An archeologist with the technical skills, knowledge, and experience from around the world was hired to help insure the integrity of the work. The Company has applied for permits from the State of Florida for two additional areas that are located in the vicinity of the permitted area, however no new permits for additional areas have been issued as of the filing date of this report.
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