Treasure & Shipwreck Recovery (OTCPK: BLIS), a company specializing in shipwreck and treasure recovery, has announced that it will soon begin a targeted search for virgin shipwrecks outside the state of Florida waters. The company has contracted with a veteran consultant who is believed to have extensive knowledge of the estimated coordinates where several virgin shipwrecks are located. These shipwrecks are said to contain potentially valuable treasure.
There are five shipwrecks in particular that the company is targeting in this search. Each ship is estimated to carry valuable cargo worth anywhere from $250 million to over $1 billion in current U.S. dollars. Based on historical research and archives, these shipwrecks are believed to hold significant amounts of treasure.
One of the advantages of these targeted wrecks is that they are located outside three nautical miles from Florida off the Atlantic coast. This means that the company does not need any permits or sharing agreements with the state. The only requirement is that customary corporate taxes on profits must be paid.
Treasure & Shipwreck Recovery has entered into a success-based contract with the consultant. Under this agreement, the consultant will receive 15% of all revenue generated from valuables recovered from the specified wrecks. This ensures that the consultant has an incentive to provide accurate information and assist with the recovery process.
Once a wreck believed to contain high-value cargo is discovered and confirmed, Treasure & Shipwreck Recovery will immediately file for U.S. Admiralty ownership. This is a Federal Maritime Law action that grants ownership rights to the company. Craig Huffman, the CEO of Treasure & Shipwreck Recovery, is an experienced attorney and litigator licensed in the State of Florida. He will ensure that all the necessary documents are filed correctly on behalf of the company.
Once ownership is granted, it is granted in perpetuity as long as the recovery work is performed. This means that Treasure & Shipwreck Recovery will have exclusive rights to the wreck site and the treasure it contains. Huffman expressed his excitement about the project, stating that the company is prepared to launch this program and is eager to see what they will discover in the coming months.
Historically, shipwreck recovery in the targeted area was prohibited due to national security concerns. The waters were close to where the U.S. Government launched its satellite and space programs. However, those areas are now open to discovery and shipwreck searches without restrictions. This has allowed Treasure & Shipwreck Recovery to pursue their long-planned search for valuable shipwrecks in the area.
In addition to the targeted search for treasure assets, Treasure & Shipwreck Recovery has plans to make strategic developments over the coming months to drive shareholder value. These developments may include media projects involving games, television, and sales of artifacts. The company aims to use its web development methods and expertise to expand into these areas.
Treasure & Shipwreck Recovery currently owns several vessels that will be used in the search and recovery process. These include the R/V Bellows, a large recovery and search vessel, and the M/V Bottomline, an on-site recovery vessel. The company also has a leased survey vessel and two smaller vessels that will assist with on-site operations.
In conclusion, Treasure & Shipwreck Recovery is preparing to begin its targeted search for virgin shipwrecks outside the state of Florida waters. With the help of a knowledgeable consultant, the company is aiming to discover valuable treasure in the targeted zone. By securing ownership rights through the U.S. Admiralty process, Treasure & Shipwreck Recovery will have the exclusive rights to any treasure recovered. With state-of-the-art technology and experienced crew members, the company is ready to embark on this exciting venture and hopes to make significant discoveries in the coming months.
