For the year ending 2025-12-31.
| Income Statement | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Consulting and contractor expenses | 1,170,240 | 1,752,382 |
| Vessel maintenance and dockage | 70,640 | 206,170 |
| Research and development | 574,755 | 490,162 |
| Professional fees | 193,856 | 192,451 |
| General and administrative expense | 347,071 | 460,170 |
| Depreciation and amortization expense | 79,244 | 57,342 |
| Total revenue | - | 16,303 |
| Rent expense | 28,688 | 41,800 |
| Travel and entertainment expense | 87,632 | 156,074 |
| Total operating expenses | 2,552,126 | 3,356,551 |
| Net loss from operations | -2,552,126 | -3,340,248 |
| Interest expense | -152,228 | -368,528 |
| Loss on extinguishment of debt | -38,145 | -196,463 |
| Gain on disposal of assets | - | 8,520 |
| Total other expenses, net | -190,373 | -556,471 |
| Loss before income tax | -2,742,499 | - |
| Net loss | -2,742,499 | -3,896,719 |
SEAFARER EXPLORATION CORP (SFRX)
SEAFARER EXPLORATION CORP (SFRX)