10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

Amendment No. 1

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2018

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to __________.

Commission File Number 000-29461

SEAFARER EXPLORATION CORP.

(Exact name of registrant as specified in its charter)

Florida	90-0473054
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

14497 N. Dale Mabry Highway, Suite 209-N, Tampa, Florida 33618

(Address of principal executive offices) (Zip code)

(813) 448-3577

Registrant’s telephone number

1

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☑
(Do not check if a smaller reporting company)
		Emerging growth company	☑

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes ☐ No ☑

As of August 8, 2018, there were 3,166,285,595 shares of the registrant’s common stock, $.0001 par value per share, outstanding.

2

EXPLANATORY NOTE

The purpose of this amendment on Form 10-Q/A to Seafarer Exploration Corp's Quarterly Report on Form 10-Q for the period ended June 30, 2018, filed with the Securities and Exchange Commission on August 14, 2018 is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.

No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

3

Item 6. Exhibits

Set forth below is a list of the exhibits to this quarterly report on Form 10-Q.

Exhibit Number	Description
**31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
**32.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(b) or Rule 15d-14(b) of the Securities and Exchange Act of 1934, as amended, and 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
**99.1	Temporary Hardship Exemption.
*101.INS	XBRL Instance Document
*101.SCH	XBRL Taxonomy Extension Schema
*101.CAL	XBRL Taxonomy Extension Calculation Linkbase
*101.DEF	XBRL Taxonomy Extension Definition Linkbase
*101.LAB	XBRL Taxonomy Extension Label Linkbase
*101.PRE	XBRL Taxonomy Extension Presentation Linkbase

* Furnished herewith.

** Previously filed.

4

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SEAFARER EXPLORATION CORP.
Date: August 17, 2018	By:	/s/ Kyle Kennedy
		Kyle Kennedy President, Chief Executive Officer, and Chairman of the Board (Principal Executive Officer and Principal Accounting Officer)

Date: August 17, 2018	By:	/s/ Charles Branscum
		Charles Branscum, Director

Date: August 17, 2018	By:	/s/ Robert L. Kennedy
		Robert L. Kennedy, Director

5

XML

Document and Entity Information - shares

6 Months Ended

Jun. 30, 2018

Aug. 08, 2018

Document And Entity Information

Entity Registrant Name

SEAFARER EXPLORATION CORP

Entity Central Index Key

0001106213

Document Type

10-Q/A

Document Period End Date

Jun. 30, 2018

Amendment Flag

true

Current Fiscal Year End Date

--12-31

Is Entity a Well-known Seasoned Issuer?

No

Is Entity a Voluntary Filer?

No

Is Entity's Reporting Status Current?

Yes

Entity Filer Category

Smaller Reporting Company

Entity Common Stock, Shares Outstanding

3,166,285,595

Amendment Description

The purpose of this amendment on form 10-Q to Seafarer Exploration Corp's Quarterly Report for the period ended June 30, 2018, filed with the Securities and Exchange Commission on August 14, 2018 is solely to furnish Exhibit 101 to the Form 10-Q in accordance with rule 405 of Regulation S-T. No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

Document Fiscal Period Focus

Q2

Document Fiscal Year Focus

2018

XML

Condensed Balance Sheets - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash	$ 23,548	$ 62,609
Prepaid expenses	28,403	32,227
Deposits and other receivables	750	750
Total current assets	52,701	95,586
Property and equipment, net	3,508	20,308
Total Assets	56,209	115,894
Current liabilities:
Accounts payable and accrued expense	369,484	279,288
Convertible notes payable, net of discounts of $2,532 and $35,844	9,468	144,156
Convertible notes payable, related parties, net of discounts of $28,002 and $-0-	37,498
Notes payable, net of discount of $25,545 and $-0-	179,455
Convertible notes payable, in default	445,300	470,300
Convertible notes payable, in default - related parties	287,500	234,500
Shareholder loan	21,673	20,023
Notes payable, in default	73,546	30,000
Notes payable, in default - related parties	18,500	43,750
Total current liabilities	1,442,424	1,222,017
Stockholders' deficit:
Preferred stock, $0.0001 par values - 50,000,000 shares authorized; 67 shares issued; Series A - 7 shares issued and outstanding at June 30, 2018 and December 31, 2017; Series B - 60 shares issued and outstanding at June 30, 2018 and December 31, 2017
Common stock, $0.0001 par value 3,900,000,000 shares authorized; 3,101,150,762 and 2,784,317,155 shares issued and outstanding at June 30, 2018 and December 31, 2017	310,115	278,432
Additional paid-in capital	12,696,362	12,293,080
Accumulated deficit	(14,391,692)	(13,677,635)
Total stockholders' deficit	(1,385,215)	(1,106,123)
Total liabilities and stockholders' deficit	56,209	115,894
Series A
Stockholders' deficit:
Preferred stock, $0.0001 par values - 50,000,000 shares authorized; 67 shares issued; Series A - 7 shares issued and outstanding at June 30, 2018 and December 31, 2017; Series B - 60 shares issued and outstanding at June 30, 2018 and December 31, 2017
Series B Preferred Stock
Stockholders' deficit:
Preferred stock, $0.0001 par values - 50,000,000 shares authorized; 67 shares issued; Series A - 7 shares issued and outstanding at June 30, 2018 and December 31, 2017; Series B - 60 shares issued and outstanding at June 30, 2018 and December 31, 2017

XML

Condensed Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Discounts on convertible notes payable	$ 2,532	$ 35,844
Discounts on convertible notes payable, related parties	28,002	0
Discounts on notes payable	$ 25,545
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	67	67
Preferred Stock, shares outstanding	67	67
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	3,900,000,000	3,900,000,000
Common stock, shares issued	3,101,150,762	2,784,317,155
Common Stock, shares outstanding	3,101,150,762	2,784,317,155
Series A
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	7	7
Preferred Stock, shares outstanding	7	7
Series B Preferred Stock
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	60	60
Preferred Stock, shares outstanding	60	60

XML

Condensed Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenue
Expenses:
Consulting and contractor expenses	283,383	65,834	430,159	186,947
Vessel Maintenance and Dockage	15,265	31,364	23,105	44,389
Professional fees	12,131	4,024	35,726	22,204
General and administrative expenses	25,348	13,908	42,696	46,451
Depreciation expense	8,496	8,496	16,992	16,992
Rent expense	10,446	6,981	19,085	20,574
Surveying and site mapping				15,595
Travel and entertainment expense	19,157	7,555	36,587	17,999
Total operating expenses	374,226	138,162	604,350	371,151
Loss from operations	(374,226)	(138,162)	(604,350)	(371,151)
Other income (expense)
Interest (expense), net	(78,568)	(101,692)	(109,707)	(189,685)
Total other (expense)	(78,568)	(101,692)	(109,707)	(189,685)
Net loss	$ (452,794)	$ (239,854)	$ (714,057)	$ (560,836)
Net loss per share - basic and diluted	$ 0.00	$ 0.00	$ (0.00)	$ (0.00)
Weighted average common shares outstanding - basic and diluted	3,036,145,467	2,516,180,900	2,906,438,618	2,395,753,200

XML

Condensed Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating activities
Net loss	$ (714,057)	$ (560,836)
Adjustments to reconcile net income to net cash provided (used) by operating activities
Depreciation	16,992	16,992
Amortization of beneficial conversion feature of the notes payable	70,537	71,049
Interest expense on converted debt	11,422	98,408
Common stock issued for services	186,519	144,700
Common stock issued for loan fees	7,350	1,200
Increase in:
Prepaid expenses and deposits	(3,824)	(73,997)
Increase (decrease) in:
Accounts payable and accrued expenses
Net cash used in operating activities	(334,865)	(345,602)
Cash flows from investing activities
Additions to property and equipment	(192)
Net cash used in investing activities	(192)
Cash flows from financing activities:
Proceeds from the issuance of common stock	131,550	263,600
Proceeds from the issuance of convertible notes payable	80,546	40,000
Principal payments on convertible notes payable	(10,000)
Proceeds from the issuance convertible notes payable, related parties	118,500	25,000
Principal payments on convertible notes payable - related party	(26,250)
Advances from shareholder	6,990	5,000
Repayments of advances from shareholders	(5,340)	(9,200)
Net cash provided by financing activities	295,996	324,400
Net decrease in cash	(39,061)	(21,202)
Cash - beginning	62,609	24,549
Cash - ending	23,548	3,347
Supplemental disclosure of cash flow information:
Cash paid for interest expense
Cash paid for income taxes
Noncash financing activities:
Convertible debt and accrued interest converted to common stock	$ 150,000	$ 314,912

XML

Description of Business

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

NOTE 1 - DESCRIPTION OF BUSINESS

Seafarer Exploration Corp. (the “Company”), formerly Organetix, Inc. (“Organetix”), was incorporated on May 28, 2003 in the State of Delaware.

The principal business of the Company is to engage in the archaeologically-sensitive exploration, documentation, recovery, and conservation of historic shipwrecks with the objective of exploring and discovering Colonial-era shipwrecks for future generations to be able to appreciate and understand.  Seafarer currently has two different wreck sites under permit with the State of Florida, one wreck site in the permit renewal process and one wreck site under contract with a private party and is working closely with the Florida Department of Historical Resources and the Florida Bureau of Archeological Research to research and document these, and additional, wreck sites.

XML

Going Concern

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

NOTE 2 - GOING CONCERN

These unaudited condensed financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred net losses since inception, which raises substantial doubt about the Company’s ability to continue as a going concern. Based on its historical rate of expenditures, the Company expects to expend its available cash in less than one month from August 14, 2018. Management's plans include raising capital through the equity markets to fund operations and, eventually, the generation of revenue through its business. The Company does not expect to generate any significant revenues for the foreseeable future.

Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. The Company’s ability to raise additional capital through the future issuances of the common stock is unknown. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company's ability to continue as a going concern; however, the accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern.

XML

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Significant Accounting Policies

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies of Seafarer Exploration Corp. is presented to assist in understanding the Company’s condensed financial statements. The condensed financial statements and notes are representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the condensed financial statements.

Accounting Method

The Company’s condensed financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents.

Revenue Recognition

The Company plans to recognize revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin No. 101, “Revenue Recognition in Financial Statements” and No. 104, “Revenue Recognition”. In all cases, revenue will be recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonably assured. For the three and six month periods ended June 30, 2018 and 2017, the Company did not report any revenues.

Earnings Per Share

The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10 which provides for calculation of "basic" and "diluted" earnings per share.  Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period.  Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity.  Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at June 30, 2018 and 2017.

Fair Value of Financial Instruments

Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1 – Valuation based on unadjusted quoted market prices in active markets for identical assets or liabilities.

Level 2 – Valuation based on, observable inputs (other than level one prices), quoted market prices for similar assets such as at the measurement date; quoted prices in the market that are not active; or other inputs that are observable, either directly or indirectly.

Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The valuation of the Company’s notes recorded at fair value is determined using Level 3 inputs, which consider (i) time value, (ii) current market and (iii) contractual prices.

The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, receivables, accounts payable, notes payable and other payables, approximate their fair values because of the short maturity of these instruments.

Property and Equipment and Depreciation

Fixed assets are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Property and equipment, net consist of the following at June 30, 2018 and December 31, 2017:

	June 30, 2018			December 31, 2017
Diving vessel	$	326,005		$	326,005
Equipment		32,612			32,420
Less accumulated depreciation		(355,109	)		(338,117	)
	$	3,508		$	20,308

Depreciation expense was $16,992 for each of the six month periods ended June 30, 2018 and 2017, and $8,496 for each of the three month periods ended June 30, 2018 and 2017.

Impairment of Long-Lived Assets

In accordance with ASC 360-10, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. There were no impairment charges recorded during the six month periods ended June 30, 2018 and 2017.

Stock Based Compensation

The Company accounts for stock based compensation awards issued to employees and non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable. The Company has historically issued compensatory shares for various services including, but not limited to, executive, board of directors, business consulting, corporate advisory, accounting, technology research and consulting, historic research, archeological, operations, strategic planning, corporate communications, financial, legal and administrative consulting services. As determined by Management, the Company may issue compensatory shares in the future for these or other services.

Use of Estimates

The process of preparing condensed financial statements in conformity with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses.  Such estimates primarily relate to unsettled transactions and events as of the date of the condensed financial statements.  Accordingly, upon settlement, actual results may differ from estimated amounts.

Convertible Notes Payable

The Company accounts for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40.

The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt. 

The classification of derivative instruments, including the determination of whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period.  Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months from the balance sheet date. 

Convertible Notes Payable at Fair Value

The Company elected to account for certain convertible notes payable under the guidance of ASC 815-15-25-4. This guidance allows an entity that initially recognizes a hybrid financial instrument as a single instrument that under paragraph 815-15-25-1 would be required to be separated into a host contract and a derivative instrument may irrevocably elect to initially and subsequently measure that hybrid financial instrument in its entirety at fair value (with changes in fair value recognized in earnings).

The fair value option is also available when a previously recognized financial instrument subject to a re-measurement event and the separate recognition of an embedded derivative. The election to use the fair value option may be made instrument by instrument.

XML

Capital Stock

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

CAPITAL STOCK

NOTE 4 – CAPITAL STOCK

The Company is authorized to sell or issue 3,900,0000,000 shares of common stock.

Preferred Stock

The Company is authorized to sell or issue 50,000,000 shares of preferred stock.

Series A Preferred Stock

At June 30, 2018 and 2017, the Company had seven shares of Series A preferred stock issued and outstanding. Each share of Series A preferred stock has the right to convert into 214,289 shares of the Company’s common stock.  

Series B Preferred Stock

On February 10, 2014, the Board of Directors of the Company under the authority granted under Article V of the Articles of Incorporation, defined and created a new preferred series of shares from the 50,000,000 authorized preferred shares. Pursuant to Article V, the Board of Directors has the power to designate such shares and all powers and matters concerning such shares. Such share class shall be designated Preferred Class B. The preferred class was created for 60 Preferred Class B shares. Such shares each have a voting power equal to one percent of the outstanding shares issued (totaling 60%) at the time of any vote action as necessary for share votes under Florida law, with or without a shareholder meeting.  Such shares are non-convertible to common stock of the Company and are not considered as convertible under any accounting measure. Such shares shall only be held by the Board of Directors as a Corporate body, and shall not be placed into any individual name. Such shares were considered issued at the time of this resolution’s adoption, and do not require a stock certificate to exist, unless selected to do so by the Board for representational purposes only.  Such shares are considered for voting as a whole amount, and shall be voted for any matter by a majority vote of the Board of Directors. Such shares shall not be divisible among the Board members, and shall be voted as a whole either for or against such a vote upon the vote of the majority of the Board of Directors. In the event that there is any vote taken which results in a tie of a vote of the Board of Directors, the vote of the Chairman of the Board shall control the voting of such shares. Such shares are not transferable except in the case of a change of control of the Corporation when such shares shall continue to be held by the Board of Directors. Such shares have the authority to vote for all matters that require a share vote under Florida law and the Articles of Incorporation.

Warrants and Options

The Company did not issue any warrants or options during the six month period ended June 30, 2018.

At June 30, 2018 the Company had warrants to purchase a total of 91,333,333 shares of its restricted common stock outstanding:

Term		Amount		Exercise Price
	11/20/12 to 11/20/22		4,000,000	$	0.0050
	09/18/15 to 09/18/20		4,000,000	$	0.0030
	08/31/16 to 08/31/18		25,000,000	$	0.0010
	02/14/17 to 08/14/18		33,333,333	$	0.0050
	09/10/17 to 09/10/19		15,000,000	$	0.0250
	09/10/17 to 09/10/19		10,000,000	$	0.0250
			91,333,333

XML

Income Taxes

6 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 5 - INCOME TAXES

The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes are as follows:

	For the Six Months Ended
	June 30, 2018			June 30, 2017
Income tax at federal statutory rate		(34.00	)%		(34.00	)%
State tax, net of federal effect		(3.96	)%		(3.96	)%
		37.96	%		37.96	%
Valuation allowance		(37.96	)%		(37.96	)%
Effective rate		0.00	%		0.00	%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

As of June 30, 2018, and December 31, 2017, the Company’s only significant deferred income tax asset was an estimated net tax operating loss of $14,014,000 and $13,300,000 respectively that is available to offset future taxable income, if any, in future periods, subject to expiration and other limitations imposed by the Internal Revenue Service.  Management has considered the Company's operating losses incurred to date and believes that a full valuation allowance against the deferred tax assets is required as of June 30, 2018 and December 31, 2017. The Company is preparing and reviewing information for tax returns for past years. Due to the Company’s lack of revenue since inception, management does not anticipate that there is any income tax liability for past years. Management has evaluated tax positions in accordance with ASC 740 and has not identified any tax positions, other than those discussed above, that require disclosure.

XML

Lease Obligation

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

LEASE OBLIGATION

NOTE 6 - LEASE OBLIGATION

Corporate Office

The Company leases 823 square feet of office space located at 14497 North Dale Mabry Highway, Suite 209-N, Tampa, Florida 33618. The Company entered into an amended lease agreement commencing on July 20, 2017 through June 30, 2020 with base monthly rents of $1,252 from July 1, 2017 to June 30, 2018, $1,289 from July 1, 2018 to June 30, 2019, and $1,328 from July 1, 2019 to June 30, 2020. Under the terms of the lease there may be additional fees charged above the base monthly rental fee.

Operations House

The Company has an operating lease for a house located in Palm Bay, Florida. The Company uses the house to store equipment and gear and to provide temporary work-related living quarters for its divers, personnel, consultants and independent contractors involved in its exploration and recovery operations. The term of the lease agreement commenced on October 1, 2015 and expired on October 31, 2016.  The Company pays $1,300 per month to lease the operations house. The term of the lease expired in October 2016, the Company is leasing the operations house on a month-to-month basis and anticipates continuing to lease the house for the foreseeable future.

XML

Convertible Notes Payable and Notes Payable

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

NOTE 7 - CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

Upon inception, the Company evaluates each financial instrument to determine whether it meets the definition of “conventional convertible” debt under ASC 470. 

Convertible Notes Payable

The following table reflects the convertible notes payable at June 30, 2018:

Issue Date:	Maturity Date	Principal Balance		Interest Rate			Conversion Rate
Convertible notes payable:
February 6, 2018	November 7, 2018	$	6,000		6.00	%		0.0006
March 6, 2018	September 6, 2018	$	6,000		6.00	%		0.0006
Balance		$	12,000
Convertible notes payable, related parties:
January 9, 2018	January 9, 2019	$	12,000		6.00	%		0.0006
May 08, 2018	July 8, 2018	$	25,000		6.00	%		0.0007
June 12, 2018	September 12, 2018	$	3,000		6.00	%		0.0007
June 20, 2018	September 12, 2018	$	500		6.00	%		0.0007
Balance		$	40,500
Convertible notes payable, in default:
August 28, 2009	November 1, 2009	$	4,300		10.00	%		0.0150
April 7, 2010	November 7, 2010	$	70,000		6.00	%		0.0080
November 12, 2010	November 12, 2011	$	40,000		6.00	%		0.0050
October 31, 2012	April 30, 2013	$	8,000		6.00	%		0.0040
November 20, 2012	May 20, 2013	$	50,000		6.00	%		0.0050
January 19, 2013	July 30, 2013	$	5,000		6.00	%		0.0040
February 11, 2013	August 11, 2013	$	9,000		6.00	%		0.0060
September 25, 2013	March 25, 2014	$	10,000		6.00	%		0.0125
October 04, 2013	April 4, 2014	$	50,000		6.00	%		0.0125
October 30, 2013	October 30, 2014	$	50,000		6.00	%		0.0125
May 15, 2014	November 15, 2014	$	40,000		6.00	%		0.0070
October 13, 2014	April 13, 2015	$	25,000		6.00	%		0.0050
June 29, 2015	December 29, 2015	$	25,000		6.00	%		0.0030
September 18, 2015	March 18, 2016	$	25,000		6.00	%		0.0020
April 04, 2016	October 4, 2016	$	10,000		6.00	%		0.0010
July 19, 2016	July 19, 2017	$	4,000		6.00	%		0.0015
August 24, 2016	February 24, 2017	$	20,000		6.00	%		0.0010
Balance		$	445,300

Convertible notes payable - related parties, in default:
January 09, 2009	January 9, 2010	$	10,000		10.00	%	0.0150
January 25, 2010	January 25, 2011	$	6,000		6.00	%	0.0050
January 18, 2012	July 18, 2012	$	50,000		8.00	%	0.0040
January 19, 2013	July 30, 2013	$	15,000		6.00	%	0.0040
July 26, 2013	January 26, 2014	$	10,000		6.00	%	0.0100
January 01, 2014	July 17, 2014	$	31,500		6.00	%	0.0060
May 27, 2014	November 27, 2014	$	7,000		6.00	%	0.0070
July 21, 2014	January 25, 2015	$	17,000		6.00	%	0.0080
October 16, 2014	April 16, 2015	$	21,000		6.00	%	0.0045
July 14, 2015	January 14, 2016	$	9,000		6.00	%	0.0030
January 12, 2016	July 12, 2016	$	5,000		6.00	%	0.0020
May 10, 2016	November 10, 2016	$	5,000		6.00	%	0.0005
May 10, 2016	November 10, 2016	$	5,000		6.00	%	0.0005
May 20, 2016	November 20, 2016	$	5,000		6.00	%	0.0005
July 12, 2016	January 12, 2017	$	5,000		6.00	%	0.0006
January 26, 2017	March 12, 2017	$	5,000		6.00	%	0.0005
February 24, 2017	August 24, 2017	$	25,000		6.00	%	0.0075
August 16, 2017	September 16, 2017	$	3,000		6.00	%	0.0008
March 14, 2018	May 14, 2018	$	25,000		6.00	%	0.0007
April 4, 2018	June 4, 2018	$	3,000		6.00	%	0.0007
April 11, 2018	June 11, 2018	$	25,000		6.00	%	0.0007
May 30, 2018	August 30, 2018	$	25,000		6.00	%	0.0007
Balance		$	312,500
Balance, convertible notes payable		$	810,300
Less unamortized discounts		$	(30,534	)
		$	799,766

Notes Payable

The following table reflects the notes payable at June 30, 2017:

Issue Date:	Maturity Date	Principal Balance			Interest Rate
Notes payable:
November 29, 2017	November 29, 2019	$	105,000			2.06	%
December 14, 2017	December 14, 2018	$	75,000			6.00	%
March 7, 2018	April 15, 2018	$	25,000			6.00	%
Balance		$	205,000
Notes payable, in default:
April 27, 2011	April 27, 2012	$	5,000			6.00	%
June 23, 2011	August 23, 2011	$	25,000			6.00	%
October 23, 2017	November 23, 2017	$	3,546			6.00	%
April 20, 2018	May 4, 2018	$	40,000			6.00	%
Balance		$	73,546
Notes payable - related parties, in default:
February 24, 2010	February 24, 2011	$	7,500			6.00	%
October 6, 2015	November 15, 2015	$	10,000			6.00	%
March 8, 2018	April 9, 2018	$	1,000			6.00	%
Balance		$	18,500
Balance, notes payable		$	297,046
Less unamortized discounts		$	(25,545	)
		$	271,501

New Convertible Notes Payable and Notes Payable

During the six month period ended June 30, 2018 the Company entered into the following Convertible Notes Payable and Notes Payable Agreements:

In January of 2018, the Company entered into a convertible promissory note agreement in the amount of $12,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before January 9, 2019. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share.

In January of 2018, the Company entered into a promissory note agreement in the amount of $25,000 with a related party. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before March 2, 2018. The related party lender received 2,000,000 shares of the Company’s restricted common stock as a loan origination fee. The Company agreed that if the note was not repaid in full by March 2, 2018 then the interest rate on the note would increase to 10% after that date until the note is paid in full and the Company would be obligated to pay an additional 1,000,000 shares of the Company restricted common stock to the related party lender. This note was repaid and the balance owed at June 30, 2018 was $0.

In February of 2017, the Company entered into a convertible promissory note agreement in the amount of $6,000 with an individual. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before November 7, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share.

In February of 2018, the Company entered into a promissory note agreement in the amount of $1,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before April 9, 2018. This note was repaid and the balance owed at June 30, 2018 was $0.

In March of 2018, the Company entered into a convertible promissory note agreement in the amount of $6,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before September 6, 2018. The lender received 500,000 shares of the Company’s restricted common stock as a loan origination fee. The note is unsecured.

In March of 2018, the Company entered into a promissory note agreement in the amount of $25,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before April 15, 2018. The lender received 5,000,000 shares of the Company’s restricted common stock as a loan origination fee. This note is currently in default due to non payment of principal and interest. The note is unsecured. 

In March of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before May14, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share. This note is currently in default due to non payment of principal and interest.

In April of 2018, the Company entered into a convertible promissory note agreement in the amount of $3,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 4, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In April of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 11, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In April of 2018, the Company entered into a promissory note agreement in the amount of $25,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before May 15, 2018. The lender received 4,000,000 shares of the Company’s restricted common stock as a loan origination fee and a $1,250 financing fee. This note was repaid and the balance owed at June 30, 2018 was $0.

In April of 2018, the Company entered into a promissory note agreement in the amount of $40,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before May 4, 2018. The lender received 4,000,000 shares of the Company’s restricted common stock as a loan origination fee. This note is currently in default due to non payment of principal and interest. The note is unsecured.

In May of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before July 8, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In May of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before July 8, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In June of 2018, the Company entered into a convertible promissory note agreement in the amount of $3,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before September 12, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

In June of 2018, the Company entered into a convertible promissory note agreement in the amount of $500 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before September 12, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

Note Conversions

A lender who had a convertible promissory note outstanding with a principal balance of $15,000 elected to convert the principal balance of the note plus accrued interest into 10,507,947 shares of the Company’s common stock. The remaining principal balance of this note was $0 at June 30, 2018.

Shareholder Loans

At June 30, 2018 the Company had six loans outstanding to its CEO totaling $19,783, consisting of a loan in the amount of $11,983 with a 6% annual rate of interest, a loan in the amount of $1,500 at 6% rate of interest and an option to convert the loan into restricted shares of the Company’s common stock at $0.0005, a loan in the amount of $2,600 at 1% rate of interest, a loan in the amount of $3,000 at 1% rate of interest, a loan in the amount of $500 at 1% rate of interest and a loan in the amount of $200 at 1% rate of interest.

Convertible Notes Payable and Notes Payable, in Default

The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default of several promissory notes held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital.

The convertible notes that have been issued by the Company are convertible at the lender’s option. These convertible notes represent significant potential dilution to the Company’s current shareholders as the convertible price of these notes is generally lower than the current market price of the Company’s shares. As such when these notes are converted into shares of the Company’s common stock there is typically a highly dilutive effect on current shareholders and very possible that such dilution may significantly negatively affect the trading price of the Company’s common stock.

In April of 2018, the Company extended the term of a previous agreement with an individual who is related to the Company’s CEO to continue serving as a member of the Company’s Board of Directors. Under the agreement, the Director agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The agreement also terminates automatically upon the death, resignation or removal of the Director. Under the terms of the agreement, the Company agreed to compensate the individual via payment of 23,000,000 restricted shares of its common stock, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individual for preapproved expenses.

In April of 2018, the Company extended the term of a previous agreement with an individual who is related to the Company’s CEO to continue serving as a member of the Company’s Board of Directors. Under the agreement, the Director agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The agreement also terminates automatically upon the death, resignation or removal of the Director. Under the terms of the agreement, the Company agreed to compensate the individual via payment of 23,000,000 restricted shares of its common stock, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individual for preapproved expenses.

In April of 2018, the Company paid one of its consultants 22,8333,000 of its restricted common stock in lieu of $15,983 cash for various technology consulting services and research into certain technologies for use in the Company’s operations.

In April of 2018, the Company issued 25,000,000 shares of restricted common stock to one of its consultants. The Company believes that the consultant has provided services at below market rates of compensation and on favorable terms to the Company, including a willingness to defer being paid cash for services for periods of time. The shares were paid both as a partial adjustment to more fairly compensate the consultant and as a bonus and inducement for the consultant to continue to provide services to the Company under terms that are favorable to the Company.

In April of 2018, the Company issued 1,500,000 shares of restricted common stock to one of its consultants. The Company believes that the consultant has provided services at below market rates of compensation and on favorable terms to the Company, including a willingness to defer being paid cash for services for periods of time. The shares were paid both as a partial adjustment to more fairly compensate the consultant and as a bonus and inducement for the consultant to continue to provide services to the Company under terms that are favorable to the Company.

In April of 2018, the Company issued a consultant 8,000,000 shares of restricted common stock for providing various project management services related to the Company’s shipwreck exploration and recovery services. The Company  believes that the consultant has provided services at below market rates of compensation and on favorable terms to the Company, including a willingness to defer being paid cash for services for periods of time. The shares were paid both as a partial adjustment to more fairly compensate the consultant and as a bonus and inducement for the consultant to continue to provide services to the Company under terms that are favorable to the Company.

In April of 2018, the Company entered into agreements with six separate individuals to either join or rejoin the Company’s advisory council. Under the advisory council agreements all of the advisors agreed to provide various advisory services to the Company, including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect to the Company's business, and providing such other advisory or consulting services as may be appropriate from time to time. The term of each of the advisory council agreements is for one year. In consideration for the performance of the advisory services, the Company agreed to issue the advisors shares of the Company’s restricted common stock including 5,000,000 to one of the advisors, 4,000,000 shares each to three of the advisors, 2,000,000 shares to one of the advisors, and 1,000,000 shares to one of he advisors, an aggregate total of 20,000,000 restricted shares. According to the agreements each of the advisors’ shares vest at a rate of 1/12 th of the amount per month over the term of the agreement. If any of the advisors or the Company terminates the advisory council agreements prior to the expiration of the one year terms, then each of the advisors whose agreement has been terminated has agreed to return to the Company for cancellation any portion of their shares that have not vested. Under the advisory council agreements, the Company has agreed to reimburse the advisors for pre approved expenses.

In April of 2018, the Company agreed to provide to an individual who had previously joined the Company’s advisory council an additional 5,000,000 shares of restricted common stock for extending the advisory council agreement and for efforts above and beyond the services agreed to in the original advisory council agreement.

In April of 2018, the Company entered into a consulting agreement with an individual for the purpose of contract management in the fields of film and media. Under the terms of the agreement the Company issued 500,000 million shares of its restricted common stock to the consultant for services. The Company also agreed to reimburse the consultant for pre-approved expenses incurred in conjunction with the performance of the services.

In April of 2018, the Company entered into a consulting agreement with a consultant to advise the Company regarding certain technologies. The Company issued 1,000,000 shares of its restricted common stock to the consultant for the services. The consultant agreed that all work performed under the agreement including business and strategic plans and proposals works-made-for-hire under U.S. copyright law and such works shall be the property of the Company.

In April of 2018, the Company entered extend a previous consulting agreement with an individual for the purpose of contract management in the fields of film and media. Under the terms of the agreement the Company issued 3,500,000 million shares of its restricted common stock to the consultant for services. The Company also agreed to reimburse the consultant for pre-approved expenses incurred in conjunction with the performance of the services.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its archeological consultants.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its independent contractors involved in its diving operations.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its business advisory consultants.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its business advisory consultants.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its advisory council members

In June of 2018, the Company entered into an agreement with an individual to join the Company’s advisory council. Under the advisory council agreement the advisor agreed to provide various advisory services to the Company, including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect to the Company's business, and providing such other advisory or consulting services as may be appropriate from time to time. The term of each of the advisory council agreement is for one year. In consideration for the performance of the advisory services, the Company agreed to issue the advisor 2,000,000 shares of restricted common stock. According to the agreements the advisor’s shares vest at a rate of 333,333 shares per month over the term of the agreement.  If the advisor or the Company terminates the advisory council agreement prior to the expiration of the one year term, the advisor has agreed to return to the Company for cancellation any portion of the shares that have not vested. Under the advisory council agreement, the Company has agreed to reimburse the advisor for pre approved expenses.

In June of 2018, the Company entered into a consulting agreement with a consultant to advise the Company regarding certain technologies. The Company issued 6,000,000 shares of its restricted common stock to the consultant for the services. The consultant agreed that all work performed under the agreement including business and strategic plans and proposals are the property of the Company.

The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to pay the related party consultant a minimum of $3,000 per month to periodically provide general business consulting and assessing the Company's business and to advise management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform background research including background checks and provide investigative information on individuals and companies as requested by the Company and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services on an as needed basis. The services are provided under the direction and supervision of the Company’s CEO.      

The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. At June 30, 2018 the Company owed the related party limited liability company $2,435 for services rendered.

The Company has an agreement to pay an individual a minimum monthly fee of $2,500 per month for archeological consulting services.

The Company has an informal consulting agreement to pay an individual a minimum of $5,000 per month for business advisory, strategic planning and consulting services, assistance with financial reporting, IT management, and administrative services. The Company also agreed to reimburse the consultant for expenses. The agreement may be terminated by the Company or the consultant at any time.

XML

Material Agreements

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

MATERIAL AGREEMENTS

NOTE 8 – MATERIAL AGREEMENTS

Agreement to Explore a Shipwreck Site Located off of Brevard County, Florida

On March 1, 2014, Seafarer entered into a partnership and ownership with Marine Archaeology Partners, LLC, with the formation of Seafarer’s Quest, LLC. Such LLC was formed in the State of Florida for the purpose of permitting, exploration and recovery of artifacts from a designated area on the east coast of Florida. Such site area is from a defined, contracted area by a separate entity, which a portion of such site is designated from a previous contracted holding through the State of Florida. Under such agreement, Seafarer is responsible for costs of permitting, exploration and recovery, and is entitled to 60% of such artifact recovery. Seafarer has a 50% ownership, with designated management of the LLC coming from Seafarer.

Exploration Permit with the Florida Division of Historical Resources for an Area off of Melbourne Beach, Florida

On July 28, 2014, Seafarer’s Quest, LLC, received a 1A-31 Permit (the “Permit”) from the Florida Division of Historical Resources for an area identified off of Melbourne Beach, Florida. The Permit is active for three years from the date of issuance.

Exploration Permit with the Florida Division of Historical Resources for an Area off of Melbourne Beach, Florida

On July 6, 2016, Seafarer’s Quest, LLC, received a 1A-31 Permit (the “Permit”) from the Florida Division of Historical Resources for a second area identified off of Melbourne Beach, Florida. The Permit is active for three years from the date of issuance.

Certain Other Agreements

In February of 2018, the Company entered into an agreement with an individual to join the Company’s advisory council. Under the terms of the advisory council agreement the advisor agreed to provide various advisory services to the Company, including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect to the Company's business, and providing such other advisory or consulting services as may be appropriate from time to time. The term of the advisory council agreements is for one year. In consideration for the performance of the advisory services, the Company agreed to issue the advisor 4,250,000 shares of the Company’s restricted common stock valued at approximately $4,250. Per the terms of the agreement the shares vest at a rate of 1/12th of the amount per month over the term of the agreement.  If the advisor or the Company terminates the advisory council agreement prior to the expiration of the one year term, then the advisor has agreed to return to the Company for cancellation any portion of the shares that have not vested. Under the advisory council agreements, the Company has agreed to reimburse the advisor for preapproved expenses.  

In February of 2018, the Company entered into a consulting agreement with a consultant to advise the Company regarding certain technologies. The Company issued 1,000,000 shares of its restricted common stock to the consultant for the services. The consultant agreed that all work performed under the agreement including business and strategic plans and proposals works-made-for-hire under U.S. copyright law and such works shall be the property of the Company.

In February of 2018, the Company entered into a subscription agreement to sell 10,000,000 shares of restricted common stock to two individuals in exchange for proceeds of $25,000. The Company also agreed that the purchaser will be entitled to receive $125,000 of treasure of their choice after both the Company has recovered a minimum of $1,750,000 of artifacts/treasure and the State of Florida has received its full share of treasure per any permits or agreements. The purchaser will have the right to convert up to a maximum of $125,000 worth of treasure that they have received into shares of the Company’s restricted common stock at a discount of 10% of the average trading price of the Company’s common stock of the previous five days closing price provided that the Company’s common stock is trading at or above $0.04 by providing a written notice to the Company. The conversion option will expire eighteen months after the Company first locates a minimum of $1,750,000 worth of treasure. The value of any treasure recovered will be determined by a mutually agreed upon third party who is a recognized expert in the valuation of historic artifacts.

In April of 2018, the Company extended the term of a previous agreement with an individual who is related to the Company’s CEO to continue serving as a member of the Company’s Board of Directors. Under the agreement, the Director agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The agreement also terminates automatically upon the death, resignation or removal of the Director. Under the terms of the agreement, the Company agreed to compensate the individual via payment of 23,000,000 restricted shares of its common stock, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individual for preapproved expenses.

In April of 2018, the Company extended the term of a previous agreement with an individual who is related to the Company’s CEO to continue serving as a member of the Company’s Board of Directors. Under the agreement, the Director agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The agreement also terminates automatically upon the death, resignation or removal of the Director. Under the terms of the agreement, the Company agreed to compensate the individual via payment of 23,000,000 restricted shares of its common stock, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individual for preapproved expenses.

In April of 2018, the Company paid one of its consultants 22,8333,000 of its restricted common stock in lieu of $15,983 cash for various technology consulting services and research into certain technologies for use in the Company’s operations.

In April of 2018, the Company issued 25,000,000 shares of restricted common stock to one of its consultants. The Company believes that the consultant has provided services at below market rates of compensation and on favorable terms to the Company, including a willingness to defer being paid cash for services for periods of time. The shares were paid both as a partial adjustment to more fairly compensate the consultant and as a bonus and inducement for the consultant to continue to provide services to the Company under terms that are favorable to the Company.

In April of 2018, the Company issued 1,500,000 shares of restricted common stock to one of its consultants. The Company believes that the consultant has provided services at below market rates of compensation and on favorable terms to the Company, including a willingness to defer being paid cash for services for periods of time. The shares were paid both as a partial adjustment to more fairly compensate the consultant and as a bonus and inducement for the consultant to continue to provide services to the Company under terms that are favorable to the Company.

In April of 2018, the Company issued a consultant 8,000,000 shares of restricted common stock for providing various project management services related to the Company’s shipwreck exploration and recovery services. The Company  believes that the consultant has provided services at below market rates of compensation and on favorable terms to the Company, including a willingness to defer being paid cash for services for periods of time. The shares were paid both as a partial adjustment to more fairly compensate the consultant and as a bonus and inducement for the consultant to continue to provide services to the Company under terms that are favorable to the Company.

In April of 2018, the Company entered into agreements with six separate individuals to either join or rejoin the Company’s advisory council. Under the advisory council agreements all of the advisors agreed to provide various advisory services to the Company, including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect to the Company's business, and providing such other advisory or consulting services as may be appropriate from time to time. The term of each of the advisory council agreements is for one year. In consideration for the performance of the advisory services, the Company agreed to issue the advisors shares of the Company’s restricted common stock including 5,000,000 to one of the advisors, 4,000,000 shares each to three of the advisors, 2,000,000 shares to one of the advisors, and 1,000,000 shares to one of he advisors, an aggregate total of 20,000,000 restricted shares. According to the agreements each of the advisors’ shares vest at a rate of 1/12 th of the amount per month over the term of the agreement. If any of the advisors or the Company terminates the advisory council agreements prior to the expiration of the one year terms, then each of the advisors whose agreement has been terminated has agreed to return to the Company for cancellation any portion of their shares that have not vested. Under the advisory council agreements, the Company has agreed to reimburse the advisors for pre approved expenses.

In April of 2018, the Company agreed to provide to an individual who had previously joined the Company’s advisory council an additional 5,000,000 shares of restricted common stock for extending the advisory council agreement and for efforts above and beyond the services agreed to in the original advisory council agreement.

In April of 2018, the Company entered into a consulting agreement with an individual for the purpose of contract management in the fields of film and media. Under the terms of the agreement the Company issued 500,000 million shares of its restricted common stock to the consultant for services. The Company also agreed to reimburse the consultant for pre-approved expenses incurred in conjunction with the performance of the services.

In April of 2018, the Company entered into a consulting agreement with a consultant to advise the Company regarding certain technologies. The Company issued 1,000,000 shares of its restricted common stock to the consultant for the services. The consultant agreed that all work performed under the agreement including business and strategic plans and proposals works-made-for-hire under U.S. copyright law and such works shall be the property of the Company.

In April of 2018, the Company entered extend a previous consulting agreement with an individual for the purpose of contract management in the fields of film and media. Under the terms of the agreement the Company issued 3,500,000 million shares of its restricted common stock to the consultant for services. The Company also agreed to reimburse the consultant for pre-approved expenses incurred in conjunction with the performance of the services.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its archeological consultants.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its independent contractors involved in its diving operations.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its business advisory consultants.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its business advisory consultants.

In June of 2018, the Company agreed to issue 500,000 shares as a bonus to one of its advisory council members

In June of 2018, the Company entered into an agreement with an individual to join the Company’s advisory council. Under the advisory council agreement the advisor agreed to provide various advisory services to the Company, including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect to the Company's business, and providing such other advisory or consulting services as may be appropriate from time to time. The term of each of the advisory council agreement is for one year. In consideration for the performance of the advisory services, the Company agreed to issue the advisor 2,000,000 shares of restricted common stock. According to the agreements the advisor’s shares vest at a rate of 333,333 shares per month over the term of the agreement.  If the advisor or the Company terminates the advisory council agreement prior to the expiration of the one year term, the advisor has agreed to return to the Company for cancellation any portion of the shares that have not vested. Under the advisory council agreement, the Company has agreed to reimburse the advisor for pre approved expenses.

In June of 2018, the Company entered into a consulting agreement with a consultant to advise the Company regarding certain technologies. The Company issued 6,000,000 shares of its restricted common stock to the consultant for the services. The consultant agreed that all work performed under the agreement including business and strategic plans and proposals are the property of the Company.

The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to pay the related party consultant a minimum of $3,000 per month to periodically provide general business consulting and assessing the Company's business and to advise management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform background research including background checks and provide investigative information on individuals and companies as requested by the Company and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services on an as needed basis. The services are provided under the direction and supervision of the Company’s CEO.      

The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. At June 30, 2018 the Company owed the related party limited liability company $2,435 for services rendered.

The Company has an agreement to pay an individual a minimum monthly fee of $2,500 per month for archeological consulting services.

The Company has an informal consulting agreement to pay an individual a minimum of $5,000 per month for business advisory, strategic planning and consulting services, assistance with financial reporting, IT management, and administrative services. The Company also agreed to reimburse the consultant for expenses. The agreement may be terminated by the Company or the consultant at any time.

XML

Legal Proceedings

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

LEGAL PROCEEDINGS

NOTE 9 – LEGAL PROCEEDINGS

On June 18, 2013, Seafarer began litigation against Tulco Resources, LLC, in a lawsuit filed in the Circuit Court in and for Hillsborough County, Florida. Such suit was filed for against Tulco based upon for breach of contract, equitable relief and injunctive relief. Tulco was the party holding the rights under a permit to a treasure cite at Juno Beach, Florida. Tulco and Seafarer had entered into contracts in March 2008, and later renewed under an amended agreement on June 11, 2010. Such permit was committed to by Tulco to be an obligation and contractual duty to which they would be responsible for payment of all costs in order for the permit to be reissued. Such obligation is contained in the agreement of March 2008 which was renewed in the June 2010 agreement between Seafarer and Tulco. Tulco made the commitment to be responsible for payments of all necessary costs for the gaining of the new permit. Tulco never performed on such obligation, and Seafarer during the period of approximately March 2008 and April 2012 had endeavored and even had to commence a lawsuit to gain such permit which was awarded in April 2012. Seafarer alleges in their complaint the expenditure of large amounts of shares and monies for financing and for delays due to Tulco’s non-performance. Seafarer seeks monetary damages and injunctive relief for the award of all rights held by Tulco to Seafarer Seafarer gained a default and final Judgment on such matter on July 23, 2014. Seafarer is now in position to receive the renewed permit to be in Seafarer’s name and rights only, with Tulco removed per the Order of the Court. On March 4, 2015, the Court awarded full rights to the Juno sight to Seafarer Exploration, erasing all rights of Tulco Resources. The company has currently filed an Admiralty Claim over such sight in the UnitedStates District Court which is pending final ruling. On October 21, 2016 a hearing on the Admiralty Claim in the United States District Court for the Southern District of Florida was held, where the Court Ordered actions to take place for ongoing admiralty claim, which will occur during the month of November 2016. The Court subsequently entered and Order directing the arrest warrant for such site, and such arrest warrant has been issued by the Clerk of Court. Such warrant entry is now in process by the Company. Such arrest warrant was served by the United States Marshalls Office in Palm Beach, Florida on July 7, 2017. The United States District Court Judge ordered service on the claim on August 10, 2017. On November 14, 2017, Judge Kenneth Marra of the United States District Court awarded Seafarer all rights as the sole owner of the sunken vessel and any items on such site. 

On September 3, 2014, the Company filed a lawsuit against Darrel Volentine, of California. Mr. Volentine was sued in two counts of libel per se under Florida law, as well as a count for injunction against the Defendant to exclude and prohibit internet postings. Such lawsuit was filed in the Circuit Court in Hillsborough County, Florida. Such suit is based upon internet postings on www.investorshub.com .. On or about October 15, 2015, the Company and Volentine entered into a stipulation whereby Volentine admitted to his tortious conduct, however the stipulated damages agreed to were rejected by the Court, and the Company is proceeding to trial on damages against Volentine in a non-jury trial on December 1, 2015. The Defendant is the subject of a contempt of court motion which was heard on April 7, 2016, whereby the Court found a violation and modified the injunction against the Defendant, and imposed other matters of potential penalties against the Defendant. The Court also awarded attorney’s fees against the Defendant on behalf of Seafarer for such motion. The Defendant subsequently attempted to have such ruling, evidence and testimony attacked through a motion heard before the Court on October 24, 2016. The Court dismissed the Defendant’s motion after presentation of the Defendant’s case at the hearing. The Plaintiff has set the matter for entry of the attorney’s fees amount due from the Defendant for hearing in December 2016. As well the Plaintiff has set for hearing its motion for sanctions in the form of attorney’s fees for frivolous filing of the October 24 th motion, which motion is also set for hearing in December 2016. The Plaintiff filed a renewed and amended motion for punitive damages in the case on September 11, 2016, which has not been set for hearing. The Defendant had also filed a motion for summary judgment on the matter of notice entitlement pre-suit, which motion is pending before the Court. The Plaintiff filed a motion for sanctions against the Defendant for the motion for summary judgment being frivolous under existing law, and such motion is pending ruling on the motion. Discovery is ongoing on such case. On December 7, 2016, the Court held a hearing on the Defendant’s motion for sanctions, and essentially attempting to rehear the motion for contempt against the Defendant. The Court dismissed the Defendant’s motions, and renewed the ability of the Company to seek attorney’s fees on such matter, which hearing has not been set at present. On February 28, 2017, the Court entered an Order denying the Defendant’s motion for summary judgment. The Company has a pending motion for sanctions related to the Defendant’s filing of the motion for summary judgment which has not been set for hearing. The Company will be attempting to set such matter for trial during 2018.

XML

Related Party Transactions

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

RELATED PARTY TRANSACTIONS

NOTE 10 – RELATED PARTY TRANSACTIONS

During the six month period ended June 30, 2018 the Company has had extensive dealings with related parties including the following:

In January of 2018, the Company entered into a convertible promissory note agreement in the amount of $12,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before January 9, 2019. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share.

In January of 2018 the Company repaid $26,250 or principal and $505 of accrued interest to a related party lender in order to satisfy a convertible promissory note. At June 30, 2018 the principal balance of the note was $0.

In January of 2018, the Company entered into a promissory note agreement in the amount of $25,000 with a related party. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before March 2, 2018. The related party lender received 2,000,000 shares of the Company’s restricted common stock as a loan origination fee. The Company agreed that if the note was not repaid in full by March 2, 2018 then the interest rate on the note would increase to 10% after that date until the note is paid in full and the Company would be obligated to pay an additional 1,000,000 shares of the Company restricted common stock to the related party lender. This note is currently in default due to non payment of principal and interest. The note is unsecured.

In February of 2018, the Company entered into a promissory note agreement in the amount of $1,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before April 9, 2018. This note is currently in default due to non payment of principal and interest The note is unsecured.

In March of 2018, the Company’s CEO provided a loan to the Company in the amount of $500. The loan pays interest at the rate of 1% per annum. The loan was due on or before April 6, 2018. This loan is currently in default due to non payment of principal and interest.

In March of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before May14, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share. This note is currently in default due to non payment of principal and interest.

In April of 2018, the Company entered into a convertible promissory note agreement in the amount of $3,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 4, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In April of 2018, the Company extended the term of a previous agreement with an individual who is related to the Company’s CEO to continue serving as a member of the Company’s Board of Directors. Under the agreement, the Director agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The agreement also terminates automatically upon the death, resignation or removal of the Director. Under the terms of the agreement, the Company agreed to compensate the individual via payment of 23,000,000 restricted shares of its common stock, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individual for preapproved expenses.

In April of 2018, the Company extended the term of a previous agreement with an individual who is related to the Company’s CEO to continue serving as a member of the Company’s Board of Directors. Under the agreement, the Director agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company's business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company's operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The agreement also terminates automatically upon the death, resignation or removal of the Director. Under the terms of the agreement, the Company agreed to compensate the individual via payment of 23,000,000 restricted shares of its common stock, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individual for preapproved expenses.

In April of 2018, the Company’s CEO provided a loan to the Company in the amount of $400. The loan pays interest at the rate of 1% per annum. The loan was due on or before May 4, 2018. This loan is currently in default due to non payment of principal and interest.

In April of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 11, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In April of 2018, the Company entered into a promissory note agreement in the amount of $25,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before May 15, 2018. The lender received 4,000,000 shares of the Company’s restricted common stock as a loan origination fee and a $1,250 financing fee. This note was repaid and the balance owed at June 30, 2018 was $0.

In April of 2018, the Company entered into a promissory note agreement in the amount of $25,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before May 4, 2018. The lender received 4,000,000 shares of the Company’s restricted common stock as a loan origination fee. This note is currently in default due to non payment of principal and interest. The note is unsecured.

In April of 2018 the Company repaid $25,000 of principal and $479 of accrued interest to a related party lender in order to satisfy a convertible promissory note. At June 30, 2018 the principal balance of the note was $0.

In May of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before July 8, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In March of 2017, the Company repaid $440 in principal plus $3 in accrued interest to its CEO in order to repay a loan the CEO had previously provided to the Company. The loan balance at June 30, 2018 was $0.

In March of 2017, the Company repaid $500 in principal plus $4 in accrued interest to its CEO in order to repay a loan the CEO had previously provided to the Company. The loan balance at June 30, 2018 was $0.

In May of 2018, the Company’s CEO provided a loan to the Company in the amount of $4,000. The loan pays interest at the rate of 1% per annum. This loan was repaid and the balance owed at June 30, 2018 was $0.

In March of 2017, the Company repaid $400 in principal plus $1 in accrued interest to its CEO in order to repay a loan the CEO had previously provided to the Company. The loan balance at June 30, 2018 was $0.

In May of 2018, the Company entered into a convertible promissory note agreement in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before August, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

In June of 2018, the Company entered into a convertible promissory note agreement in the amount of $3,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before September 12, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

In June of 2018, the Company’s CEO provided a loan to the Company in the amount of $200. The loan pays interest at the rate of 1% per annum. The loan was due on or before July 14, 2018. This loan is currently in default due to non payment of principal and interest.

In June of 2018, the Company entered into a convertible promissory note agreement in the amount of $500 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before September 12, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to pay the related party consultant a minimum of $3,000 per month to periodically provide general business consulting and assessing the Company's business and to advise management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform background research including background checks and provide investigative information on individuals and companies as requested by the Company and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services on an as needed basis. The services are provided under the direction and supervision of the Company’s CEO.      

The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. At June 30, 2018 the Company owed the related party limited liability company $2,435 for services rendered. 

At June 30, 2018 the following promissory notes and shareholder loans were outstanding to related parties:

A convertible note payable dated January 9, 2009 due to a person related to the Company’s CEO with a face amount of $10,000. This note bears interest at a rate of 10% per annum with interest payments to be paid monthly and is convertible at the note holder’s option into the Company’s common stock at $0.015 per share.  The convertible note payable was due on or before January 9, 2010 and is secured.  This note is currently in default due to non-payment of principal and interest.

A convertible note payable dated January 25, 2010 in the principal amount of $6,000 with a person who is related to the Company’s CEO. This loan pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before January 25, 2011. The note is not secured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.005 per share. This note is currently in default due to non-payment of principal and interest.  

A note payable dated February 24, 2010 in the principal amount of $7,500 with a corporation. The Company’s CEO was previously a director of the corporation. The loan is not secured and pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before February 24, 2011. This note is currently in default due to non-payment of principal and interest.

A convertible note payable dated January 18, 2012 in the amount of $50,000 with two individuals who are related to the Company’s CEO. This loan pays interest at a rate of 8% per annum and the principal and accrued interest were due on or before July 18, 2012. The note is secured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.004 per share. The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated January 19, 2013 due to a person related to the Company’s CEO with a face amount of $15,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.004 per share.  The convertible note payable was due on or before July 30, 2013 and is not secured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated July 26, 2013 due to a person related to the Company’s CEO and a member of the Company’s Board of Directors with a face amount of $10,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.01 per share.  The convertible note payable was due on or before January 26, 2014 and is not secured.  The note is currently in default due to non-payment of principal and interest. 

A convertible note payable dated January 17, 2014 due to a person related to the Company’s CEO with a face amount of $31,500. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.006 per share.  The convertible note payable is due on or before July 17, 2015 and is unsecured. The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated May 27, 2014 due to a person related to the Company’s CEO with a face amount of $7,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.007 per share.  The convertible note payable was due on or before November 27, 2014 and is unsecured. The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated July 21, 2014 due to a person related to the Company’s CEO with a face amount of $17,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.008 per share. The convertible note payable was due on or before January 25, 2015 and is unsecured. The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated October 16, 2014 due to a person related to the Company’s CEO with a face amount of $21,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0045 per share.  The convertible note payable was due on or before April 16, 2015 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated July 14, 2015 due to a person related to the Company’s CEO with a face amount of $9,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0030 per share.  The convertible note payable was due on or before January 14, 2016 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A note payable dated October 6, 2015 in the principal amount of $10,000 due to a person who is related to the Company’s CEO and a member of the Company’s Board of Directors. The loan is unsecured and pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before November 11, 2015. This note is currently in default due to non-payment of principal and interest. 

A convertible note payable dated January 12, 2016 due to a person related to the Company’s CEO with a face amount of $5,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0020 per share.  The convertible note payable was due on or before July 12, 2016 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated May 10, 2016 due to a person related to the Company’s CEO with a face amount of $5,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0005 per share.  The convertible note payable was due on or before November 10, 2016 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated May 10, 2016 due to a person who is related to the Company’s CEO and a member of the Company’s Board of Directors with a face amount of $5,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0005 per share.  The convertible note payable was due on or before November 10, 2016 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated May 20, 2016 due to a person related to the Company’s CEO with a face amount of $5,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0005 per share.  The convertible note payable was due on or before November 20, 2016 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated July 12, 2016 due to a person related to the Company’s CEO with a face amount of $2,400. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0006 per share.  The convertible note payable was due on or before January 12, 2017 and is unsecured. The note is currently in default due to non-payment of principal and interest.

A loan in the amount of $11,983 due to the Company’s CEO. The loan is unsecured and pays interest at a 6% per annum.

A loan in the amount of $1,500 due to the Company’s CEO. The loan is not secured and pays interest at a 2% per annum. After the loan has aged for six months from December 16, 2016 the lender has the right to convert the loan into shares of the Company’s restricted common shares at a rate of $0.005 per share.

A convertible loan dated January 26, 2017 due to a person related to the Company’s CEO with a face amount of $5,000. This note bears interest at a rate of 6% per annum with accrued interest to be paid at the time that the principal balance is repaid or the note is converted into shares of the Company’s common stock. The note is convertible at the note holder’s option into the Company’s common stock at $0.0005 per share.  The convertible note payable was due on or before March 12, 2017 and is unsecured.  The note is currently in default due to non-payment of principal and interest.

A convertible note payable dated February 14, 2017 in the principal amount of $25,000 due to a person who is related to the Company’s CEO and a member of the Company’s Board of Directors. This loan pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before August 14, 2017. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.00075 per share.  The note is currently in default due to non-payment of principal and interest. 

A loan in the amount of $2,600 due to the Company’s CEO. The loan pays interest at the rate of 1% per annum. The loan was due on or before October 12, 2017. The loan is currently in default.

A loan in the amount of $3,000 due to the Company’s CEO. The loan pays interest at the rate of 1% per annum. The loan was due on or before July 13, 2017. The loan is currently in default.

A convertible promissory note payable dated August 16, 2017 in the principal amount of $3,000 due to a person who is related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest were due on or before September 16, 2017. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.008 per share.  The note is currently in default due to non-payment of principal and interest.

A convertible promissory note payable dated January 9, 2018, in the principal amount of $12,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before January 9, 2019. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share.

A promissory note dated February 8, 2018, in the principal amount of $1,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before April 9, 2018. This note is currently in default due to non payment of principal and interest. The note is unsecured.

A loan to the Company in the amount of $500 due to the Company’s CEO. The loan pays interest at the rate of 1% per annum. The loan was due on or before April 6, 2018. This loan is currently in default due to non payment of principal and interest.

A convertible promissory note payable dated March 14, 2018, in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before May14, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0006 per share. This note is currently in default due to non payment of principal and interest.

A convertible promissory note payable dated April 4, 2018, in the amount of $3,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 4, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

A convertible promissory note payable dated April 11, 2018, in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before June 11, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

A convertible promissory note payable dated May 8 2018, in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before July, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share. This note is currently in default due to non payment of principal and interest.

A convertible promissory note payable dated May 30 2018, in the amount of $25,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before August 30, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

A convertible promissory note payable dated June 12, 2018, in the amount of $3,000 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before September 12, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

A loan to the Company in the amount of $200 due to the Company’s CEO. The loan pays interest at the rate of 1% per annum. The loan was due on or before July 14, 2018. This loan is currently in default due to non payment of principal and interest.

A convertible promissory note payable dated June 20, 2018, in the amount of $500 with an individual who is both related to the Company’s CEO and a member of the Company’s Board of Directors. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before September 12, 2018. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate of $0.0007 per share.

XML

Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 11 - SUBSEQUENT EVENTS

Subsequent to June 30, 2018:

Subsequent to June 30, 2018 the Company sold or issued shares of its common stock as follows (unaudited):

(i) sales of 57,897,814 shares of common stock for proceeds of $ 49,751 , used for general corporate purposes, working capital and the repayment of debt .

XML

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Accounting Method

Accounting Method

The Company’s condensed financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents.

Revenue Recognition

Revenue Recognition

The Company plans to recognize revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin No. 101, “Revenue Recognition in Financial Statements” and No. 104, “Revenue Recognition”. In all cases, revenue will be recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonably assured. For the three and six month periods ended June 30, 2018 and 2017, the Company did not report any revenues.

Earnings Per Share

Earnings Per Share

The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10 which provides for calculation of "basic" and "diluted" earnings per share.  Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period.  Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity.  Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents outstanding at June 30, 2018 and 2017.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1 – Valuation based on unadjusted quoted market prices in active markets for identical assets or liabilities.

Level 2 – Valuation based on, observable inputs (other than level one prices), quoted market prices for similar assets such as at the measurement date; quoted prices in the market that are not active; or other inputs that are observable, either directly or indirectly.

Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The valuation of the Company’s notes recorded at fair value is determined using Level 3 inputs, which consider (i) time value, (ii) current market and (iii) contractual prices.

The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, receivables, accounts payable, notes payable and other payables, approximate their fair values because of the short maturity of these instruments.

Property and Equipment and Depreciation

Property and Equipment and Depreciation

Fixed assets are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Property and equipment, net consist of the following at June 30, 2018 and December 31, 2017:

	June 30, 2018			December 31, 2017
Diving vessel	$	326,005		$	326,005
Equipment		32,612			32,420
Less accumulated depreciation		(355,109	)		(338,117	)
	$	3,508		$	20,308

Depreciation expense was $16,992 for each of the six month periods ended June 30, 2018 and 2017, and $8,496 for each of the three month periods ended June 30, 2018 and 2017.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

In accordance with ASC 360-10, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. There were no impairment charges recorded during the six month periods ended June 30, 2018 and 2017.

Employee Stock Based Compensation

Stock Based Compensation

The Company accounts for stock based compensation awards issued to employees and non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable. The Company has historically issued compensatory shares for various services including, but not limited to, executive, board of directors, business consulting, corporate advisory, accounting, technology research and consulting, historic research, archeological, operations, strategic planning, corporate communications, financial, legal and administrative consulting services. As determined by Management, the Company may issue compensatory shares in the future for these or other services.

Use of Estimates

Use of Estimates

The process of preparing condensed financial statements in conformity with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses.  Such estimates primarily relate to unsettled transactions and events as of the date of the condensed financial statements.  Accordingly, upon settlement, actual results may differ from estimated amounts.

Convertible Notes Payable

Convertible Notes Payable

The Company accounts for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40.

The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt. 

The classification of derivative instruments, including the determination of whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period.  Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months from the balance sheet date. 

Convertible Notes Payable at Fair Value

Convertible Notes Payable at Fair Value

The Company elected to account for certain convertible notes payable under the guidance of ASC 815-15-25-4. This guidance allows an entity that initially recognizes a hybrid financial instrument as a single instrument that under paragraph 815-15-25-1 would be required to be separated into a host contract and a derivative instrument may irrevocably elect to initially and subsequently measure that hybrid financial instrument in its entirety at fair value (with changes in fair value recognized in earnings).

The fair value option is also available when a previously recognized financial instrument subject to a re-measurement event and the separate recognition of an embedded derivative. The election to use the fair value option may be made instrument by instrument.

XML

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Property and Equipment and Depreciation

	June 30, 2018			December 31, 2017
Diving vessel	$	326,005		$	326,005
Equipment		32,612			32,420
Less accumulated depreciation		(355,109	)		(338,117	)
	$	3,508		$	20,308

XML

Capital Stock (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Warrants and Options

Term		Amount		Exercise Price
	11/20/12 to 11/20/22		4,000,000	$	0.0050
	09/18/15 to 09/18/20		4,000,000	$	0.0030
	08/31/16 to 08/31/18		25,000,000	$	0.0010
	02/14/17 to 08/14/18		33,333,333	$	0.0050
	09/10/17 to 09/10/19		15,000,000	$	0.0250
	09/10/17 to 09/10/19		10,000,000	$	0.0250
			91,333,333

XML

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate

	For the Six Months Ended
	June 30, 2018			June 30, 2017
Income tax at federal statutory rate		(34.00	)%		(34.00	)%
State tax, net of federal effect		(3.96	)%		(3.96	)%
		37.96	%		37.96	%
Valuation allowance		(37.96	)%		(37.96	)%
Effective rate		0.00	%		0.00

XML

Convertible Notes Payable and Notes Payable (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Convertible Notes Payable

Convertible Notes Payable

The following table reflects the convertible notes payable at June 30, 2018:

Issue Date:	Maturity Date	Principal Balance		Interest Rate			Conversion Rate
Convertible notes payable:
February 6, 2018	November 7, 2018	$	6,000		6.00	%		0.0006
March 6, 2018	September 6, 2018	$	6,000		6.00	%		0.0006
Balance		$	12,000
Convertible notes payable, related parties:
January 9, 2018	January 9, 2019	$	12,000		6.00	%		0.0006
May 08, 2018	July 8, 2018	$	25,000		6.00	%		0.0007
June 12, 2018	September 12, 2018	$	3,000		6.00	%		0.0007
June 20, 2018	September 12, 2018	$	500		6.00	%		0.0007
Balance		$	40,500
Convertible notes payable, in default:
August 28, 2009	November 1, 2009	$	4,300		10.00	%		0.0150
April 7, 2010	November 7, 2010	$	70,000		6.00	%		0.0080
November 12, 2010	November 12, 2011	$	40,000		6.00	%		0.0050
October 31, 2012	April 30, 2013	$	8,000		6.00	%		0.0040
November 20, 2012	May 20, 2013	$	50,000		6.00	%		0.0050
January 19, 2013	July 30, 2013	$	5,000		6.00	%		0.0040
February 11, 2013	August 11, 2013	$	9,000		6.00	%		0.0060
September 25, 2013	March 25, 2014	$	10,000		6.00	%		0.0125
October 04, 2013	April 4, 2014	$	50,000		6.00	%		0.0125
October 30, 2013	October 30, 2014	$	50,000		6.00	%		0.0125
May 15, 2014	November 15, 2014	$	40,000		6.00	%		0.0070
October 13, 2014	April 13, 2015	$	25,000		6.00	%		0.0050
June 29, 2015	December 29, 2015	$	25,000		6.00	%		0.0030
September 18, 2015	March 18, 2016	$	25,000		6.00	%		0.0020
April 04, 2016	October 4, 2016	$	10,000		6.00	%		0.0010
July 19, 2016	July 19, 2017	$	4,000		6.00	%		0.0015
August 24, 2016	February 24, 2017	$	20,000		6.00	%		0.0010
Balance		$	445,300

Convertible notes payable - related parties, in default:
January 09, 2009	January 9, 2010	$	10,000		10.00	%	0.0150
January 25, 2010	January 25, 2011	$	6,000		6.00	%	0.0050
January 18, 2012	July 18, 2012	$	50,000		8.00	%	0.0040
January 19, 2013	July 30, 2013	$	15,000		6.00	%	0.0040
July 26, 2013	January 26, 2014	$	10,000		6.00	%	0.0100
January 01, 2014	July 17, 2014	$	31,500		6.00	%	0.0060
May 27, 2014	November 27, 2014	$	7,000		6.00	%	0.0070
July 21, 2014	January 25, 2015	$	17,000		6.00	%	0.0080
October 16, 2014	April 16, 2015	$	21,000		6.00	%	0.0045
July 14, 2015	January 14, 2016	$	9,000		6.00	%	0.0030
January 12, 2016	July 12, 2016	$	5,000		6.00	%	0.0020
May 10, 2016	November 10, 2016	$	5,000		6.00	%	0.0005
May 10, 2016	November 10, 2016	$	5,000		6.00	%	0.0005
May 20, 2016	November 20, 2016	$	5,000		6.00	%	0.0005
July 12, 2016	January 12, 2017	$	5,000		6.00	%	0.0006
January 26, 2017	March 12, 2017	$	5,000		6.00	%	0.0005
February 24, 2017	August 24, 2017	$	25,000		6.00	%	0.0075
August 16, 2017	September 16, 2017	$	3,000		6.00	%	0.0008
March 14, 2018	May 14, 2018	$	25,000		6.00	%	0.0007
April 4, 2018	June 4, 2018	$	3,000		6.00	%	0.0007
April 11, 2018	June 11, 2018	$	25,000		6.00	%	0.0007
May 30, 2018	August 30, 2018	$	25,000		6.00	%	0.0007
Balance		$	312,500
Balance, convertible notes payable		$	810,300
Less unamortized discounts		$	(30,534	)
		$	799,766

Notes Payable

The following table reflects the notes payable at June 30, 2017:

Issue Date:	Maturity Date	Principal Balance			Interest Rate
Notes payable:
November 29, 2017	November 29, 2019	$	105,000			2.06	%
December 14, 2017	December 14, 2018	$	75,000			6.00	%
March 7, 2018	April 15, 2018	$	25,000			6.00	%
Balance		$	205,000
Notes payable, in default:
April 27, 2011	April 27, 2012	$	5,000			6.00	%
June 23, 2011	August 23, 2011	$	25,000			6.00	%
October 23, 2017	November 23, 2017	$	3,546			6.00	%
April 20, 2018	May 4, 2018	$	40,000			6.00	%
Balance		$	73,546
Notes payable - related parties, in default:
February 24, 2010	February 24, 2011	$	7,500			6.00	%
October 6, 2015	November 15, 2015	$	10,000			6.00	%
March 8, 2018	April 9, 2018	$	1,000			6.00	%
Balance		$	18,500
Balance, notes payable		$	297,046
Less unamortized discounts		$	(25,545	)
		$	271,501

XML

Summary of Significant Accounting Policies - Property and Equipment and Depreciation (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Property and Equipment, net	$ 3,508	$ 20,308
Less accumulated depreciation	(355,109)	(338,117)
Diving Vessel
Property and Equipment, net	326,005	326,005
Generator
Property and Equipment, net	$ 32,420	$ 32,612

XML

Summary of Significant Account Policies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accounting Policies [Abstract]
Depreciation expense	$ 8,496	$ 8,496	$ 16,992	$ 16,992

XML

Capital Stock - Warrants and Options (Details)	Jun. 30, 2018 $ / shares shares
Warrants issued	91,333,333
November 20, 2012 to November 20, 2022
Warrants issued	4,000,000
Warrants, Exercise Price | $ / shares	$ 0.0050
September 18, 2015 to September 18, 2020
Warrants issued	4,000,000
Warrants, Exercise Price | $ / shares	$ 0.0030
August 31, 2016 to August 31, 2018
Warrants issued	25,000,000
Warrants, Exercise Price | $ / shares	$ 0.0010
February 14, 2017 to August 14, 2018
Warrants issued	33,333,333
Warrants, Exercise Price | $ / shares	$ 0.0050
September 10, 2017 to September 10, 2019
Warrants issued	15,000,000
Warrants, Exercise Price | $ / shares	$ 0.0250
September 10, 2017 to September 10, 2019 (2)
Warrants issued	10,000,000
Warrants, Exercise Price | $ / shares	$ 0.0250

XML

Capital Stock (Details Narrative) - USD ($)

6 Months Ended

Jun. 30, 2018

Jun. 30, 2017

Dec. 31, 2017

Feb. 10, 2014

Common stock, shares authorized

3,900,000,000

3,900,000,000

Common stock, par value

$ 0.0001

$ 0.0001

Authorized preferred shares

50,000,000

50,000,000

Preferred stock, shares issued

67

67

Preferred Stock, shares outstanding

67

67

Warrants outstanding

$ 91,333,333

Series A

Preferred stock, shares issued

7

7

Preferred Stock, shares outstanding

7

7

Convertible shares terms

Each share of Series A preferred stock has the right to convert into 214,289 shares of the Company’s common stock.  

Each share of Series A preferred stock has the right to convert into 214,289 shares of the Company’s common stock.  

Series B Preferred Stock

Authorized preferred shares

50,000,000

Preferred stock, shares issued

60

60

Preferred Stock, shares outstanding

60

60

Convertible shares terms

Pursuant to Article V, the Board of Directors has the power to designate such shares and all powers and matters concerning such shares. Such share class shall be designated Preferred Class B. The preferred class was created for 60 Preferred Class B shares. Such shares each have a voting power equal to one percent of the outstanding shares issued (totaling 60%) at the time of any vote action as necessary for share votes under Florida law, with or without a shareholder meeting.  Such shares are non-convertible to common stock of the Company and are not considered as convertible under any accounting measure. Such shares shall only be held by the Board of Directors as a Corporate body, and shall not be placed into any individual name. Such shares were considered issued at the time of this resolution’s adoption, and do not require a stock certificate to exist, unless selected to do so by the Board for representational purposes only.  Such shares are considered for voting as a whole amount, and shall be voted for any matter by a majority vote of the Board of Directors. Such shares shall not be divisible among the Board members, and shall be voted as a whole either for or against such a vote upon the vote of the majority of the Board of Directors. In the event that there is any vote taken which results in a tie of a vote of the Board of Directors, the vote of the Chairman of the Board shall control the voting of such shares. Such shares are not transferable except in the case of a change of control of the Corporation when such shares shall continue to be held by the Board of Directors. Such shares have the authority to vote for all matters that require a share vote under Florida law and the Articles of Incorporation.

XML

Income Taxes - Schedule of Effective Income Tax Rate (Details)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income tax at federal statutory rate	(34.00%)	(34.00%)
State tax, net of federal effect	(3.96%)	(3.96%)
Income taxes	37.96%	37.96%
Valuation allowance	(37.96%)	(37.96%)
Effective rate	0.00%	0.00%

XML

Income Taxes (Details Narrative) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net tax operating loss	$ 14,014,000	$ 13,300,000

XML

Lease Obligation (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Base monthly rent	$ 10,446	$ 6,981	$ 19,085	$ 20,574
Corporate Office
Base monthly rent					$ 1,328	$ 1,289	$ 1,252
Operations House
Base monthly rent								$ 1,300

XML

Convertible Notes Payable and Notes Payable - Convertible Notes Payable (Details)	6 Months Ended
	Jun. 30, 2018 USD ($) $ / shares
Convertible notes payable, in default	$ 445,300
Convertible notes payable - related parties, in default	312,500
Convertible notes payable, Current	12,000
Convertible notes payable, related parties	40,500
Total convertible notes payable	810,300
Unamortized discount, convertible note	(30,534)
Convertible Notes Payable net	799,766
February 6, 2018
Convertible notes payable, Current	$ 6,000
Convertible notes payble, Current; Maturity Date	Nov. 07, 2018
Convertible notes payeble, Current; Interest rate	6.00%
Convertible notes payable, Conversion Rate | $ / shares	$ 0.0006
March 6, 2018
Convertible notes payable, Current	$ 6,000
Convertible notes payble, Current; Maturity Date	Sep. 06, 2018
Convertible notes payeble, Current; Interest rate	6.00%
Convertible notes payable, Conversion Rate | $ / shares	$ 0.0006
January 9, 2018
Convertible notes payable, related parties	$ 12,000
Convertible notes payable, related parties; interest rate	6.00%
Convertible notes payable, related parties; conversion rate | $ / shares	$ 0.0006
Convertible notes payable, related parties; maturity date	Jan. 09, 2019
May 08, 2018
Convertible notes payable, related parties	$ 25,000
Convertible notes payable, related parties; interest rate	6.00%
Convertible notes payable, related parties; conversion rate | $ / shares	$ 0.0007
Convertible notes payable, related parties; maturity date	Jul. 08, 2018
June 12, 2018
Convertible notes payable, related parties	$ 3,000
Convertible notes payable, related parties; interest rate	6.00%
Convertible notes payable, related parties; conversion rate | $ / shares	$ 0.0007
Convertible notes payable, related parties; maturity date	Sep. 12, 2018
June 20, 2018
Convertible notes payable, related parties	$ 500
Convertible notes payable, related parties; interest rate	6.00%
Convertible notes payable, related parties; conversion rate | $ / shares	$ 0.0007
Convertible notes payable, related parties; maturity date	Sep. 12, 2018
August 28, 2009
Convertible notes payable, in default, Maturity date	Nov. 01, 2009
Convertible notes payable, in default	$ 4,300
Convertible notes payable, in default, Interest rate	10.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.015
April 7, 2010
Convertible notes payable, in default, Maturity date	Nov. 07, 2010
Convertible notes payable, in default	$ 70,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.008
November 12, 2010
Convertible notes payable, in default, Maturity date	Nov. 12, 2011
Convertible notes payable, in default	$ 40,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.005
October 31, 2012
Convertible notes payable, in default, Maturity date	Apr. 30, 2013
Convertible notes payable, in default	$ 8,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.004
November 20, 2012
Convertible notes payable, in default, Maturity date	May 20, 2013
Convertible notes payable, in default	$ 50,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.005
January 19, 2013
Convertible notes payable, in default, Maturity date	Jul. 30, 2013
Convertible notes payable, in default	$ 5,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.004
Convertible notes payable - related parties, in default, Maturity date	Jul. 30, 2013
Convertible notes payable - related parties, in default	$ 15,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0040
February 11, 2013
Convertible notes payable, in default, Maturity date	Aug. 11, 2013
Convertible notes payable, in default	$ 9,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.006
September 25, 2013
Convertible notes payable, in default, Maturity date	Mar. 25, 2014
Convertible notes payable, in default	$ 10,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.0125
October 04, 2013
Convertible notes payable, in default, Maturity date	Apr. 04, 2014
Convertible notes payable, in default	$ 50,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.0125
October 30, 2013
Convertible notes payable, in default, Maturity date	Oct. 30, 2014
Convertible notes payable, in default	$ 50,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.0125
May 15, 2014
Convertible notes payable, in default, Maturity date	Nov. 15, 2014
Convertible notes payable, in default	$ 40,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.007
October 13, 2014
Convertible notes payable, in default, Maturity date	Apr. 13, 2015
Convertible notes payable, in default	$ 25,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.005
June 29, 2015
Convertible notes payable, in default, Maturity date	Dec. 29, 2015
Convertible notes payable, in default	$ 25,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.003
September 18, 2015
Convertible notes payable, in default, Maturity date	Mar. 18, 2016
Convertible notes payable, in default	$ 25,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.002
April 04, 2016
Convertible notes payable, in default, Maturity date	Oct. 04, 2016
Convertible notes payable, in default	$ 10,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.001
July 19, 2016
Convertible notes payable, in default, Maturity date	Jul. 19, 2017
Convertible notes payable, in default	$ 4,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.0015
August 24, 2016
Convertible notes payable, in default, Maturity date	Feb. 24, 2017
Convertible notes payable, in default	$ 20,000
Convertible notes payable, in default, Interest rate	6.00%
Convertible notes payable, in default, Conversion rate | $ / shares	$ 0.001
January 09, 2009
Convertible notes payable - related parties, in default, Maturity date	Jan. 09, 2010
Convertible notes payable - related parties, in default	$ 10,000
Convertible notes payable - related parties, in default, Interest rate	10.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.015
January 25, 2010
Convertible notes payable - related parties, in default, Maturity date	Jan. 25, 2011
Convertible notes payable - related parties, in default	$ 6,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.005
January 18, 2012
Convertible notes payable - related parties, in default, Maturity date	Jul. 18, 2012
Convertible notes payable - related parties, in default	$ 50,000
Convertible notes payable - related parties, in default, Interest rate	8.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.004
July 26, 2013
Convertible notes payable - related parties, in default, Maturity date	Jan. 26, 2014
Convertible notes payable - related parties, in default	$ 10,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.01
January 01, 2014
Convertible notes payable - related parties, in default, Maturity date	Jul. 17, 2014
Convertible notes payable - related parties, in default	$ 31,500
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.006
May 27, 2014
Convertible notes payable - related parties, in default, Maturity date	Nov. 27, 2014
Convertible notes payable - related parties, in default	$ 7,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.007
July 21, 2014
Convertible notes payable - related parties, in default, Maturity date	Jan. 25, 2015
Convertible notes payable - related parties, in default	$ 17,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.008
October 16, 2014
Convertible notes payable - related parties, in default, Maturity date	Apr. 16, 2015
Convertible notes payable - related parties, in default	$ 21,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0045
July 14, 2015
Convertible notes payable - related parties, in default, Maturity date	Jan. 14, 2016
Convertible notes payable - related parties, in default	$ 9,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.003
January 12, 2016
Convertible notes payable - related parties, in default, Maturity date	Jul. 12, 2016
Convertible notes payable - related parties, in default	$ 5,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.002
May 10, 2016
Convertible notes payable - related parties, in default, Maturity date	Nov. 10, 2016
Convertible notes payable - related parties, in default	$ 5,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0005
May 10, 2016 #2
Convertible notes payable - related parties, in default, Maturity date	Nov. 10, 2016
Convertible notes payable - related parties, in default	$ 5,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0005
May 20, 2016
Convertible notes payable - related parties, in default, Maturity date	Nov. 20, 2016
Convertible notes payable - related parties, in default	$ 5,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0005
July 12, 2016
Convertible notes payable - related parties, in default, Maturity date	Jan. 12, 2017
Convertible notes payable - related parties, in default	$ 5,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0006
January 26, 2017
Convertible notes payable - related parties, in default, Maturity date	Mar. 12, 2017
Convertible notes payable - related parties, in default	$ 5,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0005
February 24, 2017
Convertible notes payable - related parties, in default, Maturity date	Aug. 24, 2017
Convertible notes payable - related parties, in default	$ 25,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0075
August 16, 2017
Convertible notes payable - related parties, in default, Maturity date	Sep. 16, 2017
Convertible notes payable - related parties, in default	$ 3,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0008
March 14, 2018
Convertible notes payable - related parties, in default, Maturity date	May 14, 2018
Convertible notes payable - related parties, in default	$ 25,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0007
April 4, 2018
Convertible notes payable - related parties, in default, Maturity date	Jun. 04, 2018
Convertible notes payable - related parties, in default	$ 3,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0007
April 11, 2018
Convertible notes payable - related parties, in default, Maturity date	Jun. 11, 2018
July 19, 2016
Convertible notes payable - related parties, in default	$ 25,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0007
May 30, 2018
Convertible notes payable - related parties, in default, Maturity date	Aug. 30, 2018
Convertible notes payable - related parties, in default	$ 25,000
Convertible notes payable - related parties, in default, Interest rate	6.00%
Convertible notes payable - related parties, in default, Conversion rate | $ / shares	$ 0.0007

XML

Convertible Notes Payable and Notes Payable - Notes Payable (Details)	6 Months Ended
	Jun. 30, 2018 USD ($)
Notes payable, in default	$ 73,546
Notes payable - related parties, in default	18,500
Notes payable	205,000
Notes Payable, Total	297,046
Notes payable, unamortized discount	(25,545)
Net Note payable	$ 271,501
November 29, 2017
Notes payable, Maturity Date	Nov. 29, 2019
Notes payable	$ 105,500
Notes payable interest rate	2.06%
December 14, 2017
Notes payable, Maturity Date	Dec. 14, 2018
Notes payable	$ 75,000
Notes payable interest rate	6.00%
March 7, 2018
Notes payable, Maturity Date	Apr. 15, 2018
Notes payable	$ 25,000
Notes payable interest rate	6.00%
April 27, 2011
Notes payable, in default	$ 5,000
Notes payable, in default - Interest rate	6.00%
Notes payable, in default - Maturity date	Apr. 27, 2012
June 23, 2011
Notes payable, in default	$ 25,000
Notes payable, in default - Interest rate	6.00%
Notes payable, in default - Maturity date	Aug. 23, 2011
October 23, 2017
Notes payable, in default	$ 3,546
Notes payable, in default - Interest rate	6.00%
Notes payable, in default - Maturity date	Nov. 23, 2017
April 20, 2018
Notes payable, in default	$ 40,000
Notes payable, in default - Interest rate	6.00%
Notes payable, in default - Maturity date	May 04, 2018
February 24, 2010
Notes payable - related parties, in default Maturity date	Feb. 24, 2011
Notes payable - related parties, in default	$ 7,500
Notes payable - related parties, in default, Interest rate	6.00%
October 06, 2015
Notes payable - related parties, in default Maturity date	Nov. 15, 2015
Notes payable - related parties, in default	$ 10,000
Notes payable - related parties, in default, Interest rate	6.00%
March 8, 2018
Notes payable - related parties, in default Maturity date	Apr. 09, 2018
Notes payable - related parties, in default	$ 1,000
Notes payable - related parties, in default, Interest rate	6.00%

XML

Convertible Notes Payable and Notes Payable (Details Narrative) - USD ($)	1 Months Ended							6 Months Ended
	Jun. 30, 2018	May 31, 2018	Apr. 30, 2018	Mar. 31, 2018	Feb. 28, 2018	Jan. 31, 2018	Feb. 28, 2017	Jun. 30, 2018	Dec. 31, 2017	Jul. 31, 2017
Warrants issued	91,333,333							91,333,333
Common stock issued	3,101,150,762							3,101,150,762	2,784,317,155
Consulting Agreement
Number of restricted common stock issued	6,000,000		500,000,000,000
Consulting Agreement 2
Number of restricted common stock issued			1,000,000
Consulting Agreement 3
Number of restricted common stock issued			3,500,000,000,000
CEO, First Loan
Loan outstanding to related party	$ 11,983							$ 11,983
Loan payable, Interest rate	6.00%							6.00%
CEO, Second Loan
Conversion price	$ 0.0005							$ 0.0005
Loan outstanding to related party	$ 1,500							$ 1,500
Loan payable, Interest rate	6.00%							6.00%
CEO
Loan outstanding to related party	$ 2,600	$ 4,000	$ 400					$ 2,600
Loan payable, Interest rate	1.00%	1.00%	1.00%					1.00%
CEO, Fourth Loan
Loan outstanding to related party	$ 3,000							$ 3,000
Loan payable, Interest rate	1.00%							1.00%
CEO
Loan outstanding to related party	$ 500							$ 500
Loan payable, Interest rate	1.00%							1.00%
CEO, Six Loan
Loan outstanding to related party	$ 200							$ 200
Loan payable, Interest rate	1.00%							1.00%
Chief Executive Officer
Loan outstanding to related party	$ 19,783							$ 19,783		$ 2,600
Loan payable, Interest rate										1.00%
Due from related party	$ 2,435							$ 2,435
Consultants
Number of restricted common stock issued			228,333,000
Proceeds from issue of common stock			$ 15,983
Consultants one
Number of restricted common stock issued			25,000,000
Consultants Two
Number of restricted common stock issued			1,500,000
Consultants Three
Number of restricted common stock issued			8,000,000
Advisors
Number of restricted common stock issued	2,000,000		20,000,000
First Advisors
Number of restricted common stock issued			5,000,000
Second Advisors
Number of restricted common stock issued			4,000,000
Third Advisors
Number of restricted common stock issued			4,000,000
Fourth Advisors
Number of restricted common stock issued			4,000,000
Fifth Advisors
Number of restricted common stock issued			2,000,000
Sixth Advisors
Number of restricted common stock issued			1,000,000
Seventh Advisors
Number of restricted common stock issued			5,000,000
Archeological consultants
Number of shares issued for bonus	500,000
Minimum monthly fees	$ 2,500
Independent contractors
Number of shares issued for bonus	500,000
Business Advisory Consultants
Number of shares issued for bonus	500,000
Minimum monthly fees	$ 5,000
Business Advisory Consultants two
Number of shares issued for bonus	500,000
Advisory Council Members
Number of shares issued for bonus	500,000
Individual
Number of restricted common stock issued	23,000,000
Individual 2
Number of restricted common stock issued	23,000,000
Convertible Promissory Note
Total convertible notes issued				$ 6,000	$ 1,000		$ 6,000
Interest on note payable				6.00%	6.00%		6.00%
Loan origination fee, shares				500,000
Conversion price							$ 0.0006
Convertible Promissory Note Agreement 2
Total convertible notes issued			$ 25,000	$ 25,000
Interest on note payable			6.00%	6.00%
Conversion price				$ 0.0006
Convertible Promissory Note Agreement 1
Total convertible notes issued	$ 3,000	$ 25,000	$ 3,000
Interest on note payable	6.00%	6.00%	6.00%
Conversion price	$ 0.0007	$ 0.0007	$ 0.0007					$ 0.0007
Convertible Promissory Note Agreement 2
Total convertible notes issued	$ 500	$ 25,000
Interest on note payable	6.00%	6.00%
Conversion price	$ 0.0007	$ 0.0007	$ 0.0007					$ 0.0007
Convertible Promissory Note Agreement 3
Total convertible notes issued			$ 25,000
Interest on note payable			6.00%
Loan origination fee, shares			4,000,000
Financing fee			$ 1,250
Convertible Promissory Note Agreement 4
Total convertible notes issued			$ 40,000
Interest on note payable			6.00%
Loan origination fee, shares			4,000,000
Note Conversion
Total convertible notes issued								$ 0
Note Conversion #2
Convertible promissory note, remaining balance	$ 15,000							$ 15,000
Common stock issued	10,507,947							10,507,947
Convertible Promissory Note
Total convertible notes issued						$ 12,000
Interest on note payable						6.00%
Conversion price						$ 0.0006
Promissory Note
Total convertible notes issued						$ 25,000
Interest on note payable						6.00%
Loan origination fee, shares						2,000,000

XML

Material Agreements (Details Narrative) - USD ($)

1 Months Ended

6 Months Ended

12 Months Ended

Feb. 28, 2018

Jun. 30, 2018

Dec. 31, 2017

Outstanding debt related to transfer agency services

$ 2,435

Ongoing agreement, payment per month for archeological consulting services

25,000

Ongoing consulting agreement for business advisory services payment per month

$ 5,000

Common stock issued for services, shares

134,833

Consulting Agreement

Ongoing consulting agreement for business advisory services payment per month

$ 3,000

Common stock issued for services, shares

1,000,000

Owed for services rendered

$ 4,000

Subscription Agreement 2

Shares of restricted stock issued

10,000,000

Shares of restricted stock issued, value

$ 25,000

Agreement Terms

The Company also agreed that the purchaser will be entitled to receive $125,000 of treasure of their choice after both the Company has recovered a minimum of $1,750,000 of artifacts/treasure and the State of Florida has received its full share of treasure per any permits or agreements. The purchaser will have the right to convert up to a maximum of $125,000 worth of treasure that they have received into shares of the Company’s restricted common stock at a discount of 10% of the average trading price of the Company’s common stock of the previous five days closing price provided that the Company’s common stock is trading at or above $0.04 by providing a written notice to the Company. The conversion option will expire eighteen months after the Company first locates a minimum of $1,750,000 worth of treasure. The value of any treasure recovered will be determined by a mutually agreed upon third party who is a recognized expert in the valuation of historic artifacts.

Subscription Agreement 3

Agreement Terms

In February of 2018, the Company entered into a subscription agreement to sell 10,000,000 shares of restricted common stock to two individuals in exchange for proceeds of $25,000. The Company also agreed that the purchaser will be entitled to receive $125,000 of treasure of their choice after both the Company has recovered a minimum of $1,750,000 of artifacts/treasure and the State of Florida has received its full share of treasure per any permits or agreements. The purchaser will have the right to convert up to a maximum of $125,000 worth of treasure that they have received into shares of the Company’s restricted common stock at a discount of 10% of the average trading price of the Company’s common stock of the previous five days closing price provided that the Company’s common stock is trading at or above $0.04 by providing a written notice to the Company. The conversion option will expire eighteen months after the Company first locates a minimum of $1,750,000 worth of treasure. The value of any treasure recovered will be determined by a mutually agreed upon third party who is a recognized expert in the valuation of historic artifacts.

Quest, LLC

Entitlement of artifact recovery

60.00%

Ownership

50.00%

XML

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended			6 Months Ended
	Jun. 30, 2018	Apr. 30, 2018	May 31, 2017	Jun. 30, 2018	Jun. 20, 2018	Jun. 12, 2018	May 31, 2018	May 30, 2018	May 08, 2018	Apr. 11, 2018	Apr. 04, 2018	Mar. 31, 2018	Mar. 14, 2018	Feb. 28, 2018	Feb. 08, 2018	Jan. 31, 2018	Jan. 09, 2018	Dec. 31, 2017	Sep. 30, 2017	Aug. 16, 2017	Jul. 31, 2017	Feb. 14, 2017	Jan. 26, 2017	Jul. 12, 2016	May 20, 2016	May 10, 2016	Jan. 12, 2016	Oct. 06, 2015	Jul. 14, 2015	Oct. 16, 2014	Jul. 21, 2014	May 27, 2014	Jan. 17, 2014	Jul. 26, 2013	Jan. 19, 2013	Jan. 18, 2012	Feb. 24, 2010	Jan. 25, 2010	Jan. 09, 2009
Convertible note payable, amount																						$ 25,000	$ 5,000	$ 2,400	$ 5,000		$ 5,000	$ 10,000	$ 9,000	$ 21,000	$ 17,000	$ 7,000	$ 31,500	$ 10,000	$ 15,000	$ 50,000	$ 7,500	$ 6,000	$ 10,000
Convertible note payable, interest rate per annum																						6.00%	6.00%	6.00%	6.00%		6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	8.00%	6.00%	6.00%	10.00%
Convertible note payable, common stock price per share																						$ 0.00075	$ 0.0005	$ 0.0006	$ 0.0005		$ 0.0020		$ 0.0030	$ 0.0045	$ 0.008	$ 0.007	$ 0.006	$ 0.01	$ 0.004	$ 0.004		$ 0.005	$ 0.015
Shares entitled to lender																											500,000
Outstanding debt related to transfer agency services				$ 2,435
Convertible Notes Payable [Member]
Convertible note payable, amount																										$ 5,000
Convertible note payable, interest rate per annum																										6.00%
Convertible note payable, common stock price per share																										$ 0.0005
Convertible Notes Payable #2 [Member]
Convertible note payable, amount																										$ 5,000
Convertible note payable, interest rate per annum																										6.00%
Convertible note payable, common stock price per share																										$ 0.0005
Chief Executive Officer
Convertible note payable, amount																		$ 1,500
Convertible note payable, interest rate per annum																		2.00%
Convertible note payable, common stock price per share																		$ 0.005
Loan outstanding to related party																		$ 11,983
Loan payable, Interest rate																		6.00%
Chief Executive Officer
Payment per month to related party LLC																			$ 3,000
Loan outstanding to related party	$ 19,783			19,783																	$ 2,600
Loan payable, Interest rate																					1.00%
Repayment of Principal		$ 25,000	$ 440
Payment of accrued interest		479	3
CEO, Second Loan
Loan outstanding to related party																					$ 3,000
Loan payable, Interest rate																					1.00%
Individual
Number of restricted common stock issued	23,000,000
Individual 2
Number of restricted common stock issued	23,000,000
Chief Executive Officer 2
Repayment of Principal			500
Payment of accrued interest			4
Chief Executive Officer 3
Repayment of Principal			400
Payment of accrued interest			$ 1
CEO
Loan outstanding to related party	$ 2,600	$ 400		$ 2,600			$ 4,000
Loan payable, Interest rate	1.00%	1.00%		1.00%			1.00%
CEO, Six Loan
Loan outstanding to related party	$ 200			$ 200
Loan payable, Interest rate	1.00%			1.00%
Promissory Note
Convertible note payable, amount														$ 1,000		$ 1,000
Convertible note payable, interest rate per annum														6.00%		6.00%
Loan origination fee																2,000,000
Promissory Note #2
Convertible note payable, amount					$ 500	$ 3,000		$ 25,000	$ 25,000	$ 25,000	$ 3,000		$ 25,000		$ 1,000		$ 12,000			$ 3,000
Convertible note payable, interest rate per annum					6.00%	6.00%		6.00%	6.00%	6.00%	6.00%		6.00%		6.00%		6.00%			6.00%
Convertible note payable, common stock price per share					$ 0.0007	$ 0.0007		$ 0.0007	$ 0.0007	$ 0.0007	$ 0.0007		$ 0.0006				$ 0.0006			$ 0.0008
Convertible Promissory Note
Convertible note payable, amount	$ 25,000	$ 3,000		$ 25,000								$ 25,000				$ 12,000
Convertible note payable, interest rate per annum	6.00%	6.00%		6.00%								6.00%				6.00%
Convertible note payable, common stock price per share	$ 0.0006	$ 0.0007		$ 0.0006								$ 0.0006				$ 0.0006
Loan repaid																$ 26,250
Accrued interest paid																$ 505
Convertible Promissory Note Agreement 2
Convertible note payable, amount	$ 500	$ 25,000		$ 500			$ 25,000
Convertible note payable, interest rate per annum	6.00%	6.00%		6.00%			6.00%
Convertible note payable, common stock price per share	$ 0.0007	$ 0.0007		$ 0.0007			$ 0.0007
Convertible Promissory Note Agreement 3
Convertible note payable, amount		$ 25,000
Convertible note payable, interest rate per annum		6.00%
Loan origination fee		4,000,000
Financing fee		$ 1,250
Convertible Promissory Note Agreement 4
Convertible note payable, amount		$ 25,000
Convertible note payable, interest rate per annum		6.00%
Loan origination fee		4,000,000
Convertible Promissory Note Agreement 1
Convertible note payable, amount	$ 3,000			$ 3,000			$ 25,000
Convertible note payable, interest rate per annum	6.00%			6.00%			6.00%
Convertible note payable, common stock price per share	$ 0.0007			$ 0.0007			$ 0.0007

XML

Subsequent Events (Details Narrative)	6 Months Ended
	Jun. 30, 2018 USD ($) shares
Subsequent Events
Common stock sold | shares	57,897,814
Common stock value | $	$ 49,751