T/H investment club?

[badbrains]

Ok, I might get shot out of the water for this but what do you guys think of a shipwreck recovery investment club? Whatcha think? There is definitely alot of brain power here(resource number 1). How could this work? Or can it? A pooling of resources?

 

[FLOYD MANN]

Can it WORK ? SURE it can ! I'm doing it RIGHT NOW! It is a LOT of HARD work ( filing legal papers, working with attorneys and investors, etc. ), but: YOU get to treasure hunt 24/7/365 using OPM ( Other People's Money ). They are given a Notarized Certificate of Participation ( Percentage Guarantee ) and the treasure hunting TEAM just reports to the investors a Minimum of 2 times a month, with Progress Reports. I won't use this forum as a "Solicitation", so if you want to know MORE about how I conduct MY business---or if you want to be one of my investors---I'll gladly email you more info, if you request it through an email to me. Let me REPEAT: this kind of business is highly scutinized and monitored & audited, etc etc etc---so don't even THINK about it unless you are Spotless & don't mind jumping through a bunch of hoops.

GOOD LUCK in ALL of your future "adventures" !!

FLOYD MANN
FRMPINK@AOL.COM
http://www.losttreasureusa.com/OurVisionQuest-tmp/index.htm

 

[badbrains]

I saw the website. thats kind of what I was thinking about. I was thinking more of like a 'commune' of THers. where money is not the foremost means of going forward with a project. For instance, so and so doesnt have money but he has a beat up ol' boat that he can contribute to the search. so and so can contribute a mag/towfish/md etc etc. in other words, any asset that can be pooled towards a rock solid find (after the community agrees that it is feasible) Maybe a THer has loads of time on their hands for whatever reason as opposed to those who dont have time. he can put in dive time etc etc. therefore making you an investor.any asset whether it be equipment or time is good as money. and of course hard cash is acceptable too. maybe a beach hunter can invest just the small change he finds in the mine. so on and so forth. all of this takes a massive amount of organization. Maybe a treasure hunter/lawyer can contribute his time or an accountant ,researcher ,whatever. Intellectual property is as good as money. No one is getting paid or on salary. the only thing i see where money would actually be needed is gas for the boat miscellaneous permits, licenses etc. Personally, i dont have organizational skills to make something like this happen but im sure someone here does therefore making him /her an investor. Then again this is just and idea maybe in a perfect world this could happen but it seems like the power of numbers would get things done much quicker(its all about the gold)

 

[scottone928]

I like your idea Pharez. Sounds great!

 

[badbrains]

my thing is this. we know the stuff is out there. lets start pulling it up

 

[rgecy]

pharez,

That is exactly what we (ARRG) has done. We are a group of 10 members from here on TNet that came together last year to form a company.

ARRG - Aquatic Research and Recovery Group was formed in Jan 2007. We have 10 members with all different backgrounds and skills. Aside from the Conquistador which we aquired two months ago, we also have 4 other boats that can be used for surveys, diving, etc.

This pooling of resources has been great and has helped us get started much faster than if we would have tried to do this individually. I had been talking about working the 1715 fleet for 3 years and could not have done it without the help.

We have based our splits on the Weller method as outlined in his book 'Salvaging Spanish Sunken Treasure'.

 

[Peg Leg]

This is the way an LLC is put together.
An LLC is based on Memberships.
Membership could cost as little as $5.00 per membership.
If you wanted to trade equipment for membership you could place an appraisal on what you were wanting to trade and if the Board of Directors accepted this then you would receive Membership Certificates in the amount of the appraised equipment.
The profits would be divided according to the number of Certificates help by the member but regardless 40% of the money will be kept by the LLC.
This is different from a Regular Corporation becsue there are NO shares or stock or SEC involved. NO IRS forms to fill out and no TAXES to be paid except THAT THE MEMBER IS RESPONSIBLE FOR THEIR OWN TAXES.
The LLC that I have was involved in Diamond recovery in West Africa untill the CIVIL (DIAMOND) WAR in Sierra Leone.
iF ANYONE WANT TO KNOW MORE YOU can send me a PM and we can go from there.
pEG LEG

 

[FISHEYE]

Thats about where im at now.i have the ship and all the equipment and divers to do the job at treasure hunting and finding.now just need a investor/s to start working.otherwise ill just put my outriggers back on the boat and just do fishing tourneys.more money there.less work and more fun.and less red tape.

 

[badbrains]

very interesting. ok. its good to know this is actually being done. silly me. i actually thought i had a new idea. more power to you guys out there. Actually Im glad I got this off my chest because it was something I would keep myself awake at nights. it just makes too much sense.

 

[scottone928]

That's funny pharez . Maybe we should get a group together. Let's see I am in the market for a Minelab Excalibur, so I am good to go there. Next I am a certified diver, so that's a good thing. Now comes the tricky part, I do not have a boat; but I do have a jetski. Maybe we could still pull a mag behind it... lol

 

[badbrains]

hey...I got a twenty foot catamaran I converted to a dive platform. no engines yet....but then again its a sailboat. Certified skin diver with a 64 inch speargun.....hey got dinner covered babe..llolol

 

[FISHEYE]

the jet ski can be used to set anchors,also can be used with a hull mounted side scan or mag.the catamaran isnt much good ,too slow to tow out to a site.only good for lagoons or lakes or close to shore work.we will need food too,its mini lobster season here in florida.

 

[scottone928]

Great, now we will grab Ivan and Robert and head over to Amelia Island! . Well if there is no wind I could pull your boat out there

 

[scottone928]

Alright, Fisheye is game too!

 

[Darren in NC]

I hope you guys aren't just joking around. It would be great to see groups all over working together and finding stuff as a result of this great website.

 

[scottone928]

Hey when I am pulling the mag behind my Seadoo, someone could wakeboard back there too.

 

[badbrains]

It would be great Darren. And I dont think anyone is joking. Its good that there is dialogue going on. This is an awesome forum. We're just sharing ideas and of course things dont happen over night.

I think the cat could handle the open water within reason. two 5 hp outboards might make her acceptable. No matter what size boat once the chop hits your wrapping it up anyway.........just tossing out ideas.

Can you blow holes with a 5 hp outboard?

 

[scottone928]

We could strap a mailbox to it and we would be good to go! Could probably make one at my job.

 

[scottone928]

Where is everyone located? Darren is an easy one!!!

I am located in Green Cove Springs, Florida. Just outside Jacksonville.

 

[badbrains]

A wakeboard? thats very radical


im a long ways up Staten Island NY. I winter in P.R.