secwatch.observer — SEC 8-K summary
======================================

Issuer:     SEAFARER EXPLORATION CORP (SFRX)
CIK:        0001106213
Form:       8-K
Filed at:   2023-12-08T23:59:59+00:00
Accession:  0001199835-23-000597
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seafarer borrows up to $1M at 6%, pays 20M common shares as loan origination fee
--------------------------------------------------------------------------------

- Loan agreement for up to $1M unsecured at 6% annual interest, no prepayment penalty.
- $500K advanced on Nov 22, 2023; additional $500K available upon CEO's written request.
- Lender received 20M restricted common shares as one-time origination fee.
- Loan balance plus interest due one year from each funding date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1106213/000119983523000597/0001199835-23-000597-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1106213/000119983523000597/sfrx_form-8k.htm
  HTML page:      https://secwatch.observer/filing/0001199835-23-000597

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer