- Oops!Something went wrong.Please try again later.
ST. PETERSBURG, Fla., Sept. 26, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Treasure & Shipwreck Recovery, Inc. (“TSR” or the “Company”), currently trading on the OTC market under the ticker symbol “BLIS”, today announces its publication of a 19-page paper entitled “A Look at the Commercial Value of Shipwrecks & Their Artifacts,” authored by TSR’s chief operating officer and internationally known shipwreck expert, Dr. E. Lee Spence. The paper includes an in-depth explanation regarding the types of treasure and recoveries that can be made as the Company moves forward.
As operations are ongoing, the types of artifacts and what is termed treasure that may be found, and the Company’s business strategy and philosophies as set forth by Dr. Spence, are laid out in the document. As TSR commences operations off the East Coast of the United States, including on its new vessel the R/V Bellows, the Company fully expects to receive media coverage in the form of potential television and streaming reality series as well as coverage through other educational and entertainment media forums.
In the paper, Dr. Spence sets out the values of recoveries that he has made and that the Company expects to make from shipwrecks. Dr. Spence utilizes his 60 years of experience in explaining the values of shipwreck recoveries and the involvement of academia, governments and others, as well as the market forces that drive the values of objects recovered, expectational values and otherwise. Dr. Spence gives many real-world examples of what he has been involved with and expects going forward, from the recovery of Spanish galleons to bottles of champagne, all of which have values beyond their mere sales amounts to the public.
In this paper, TSR adopts the philosophy of Dr. Spence regarding shipwrecks and recovered items and their values, both intrinsic and extrinsic. TSR adopts his insight, including the corporate strategy that not only will shipwrecks and their contents be garnered and owned by the Company and him in partnership, for the interest of the public through TSR, but also the varying sources of revenue and publicity that will occur. Dr. Spence, through the Company, explains in the paper that the publicity resulting from the discovery of objects, such as coins and other objects, has value beyond just the actual numismatic values of the recovered items. The publicity of finds, ventures and actions can occur such as at the opening of the Andrea Doria safe, and even Al Capone’s safe in the 1980s.
Dr. Spence points to recoveries he has made in the past and the resulting publicity, including the time People magazine covered his recovery of G.H. Mumm champagne from the 1913 shipwreck of the Regina in the Great Lakes. Dr. Spence opened some of the recovered champagne at his wedding, and People did a 3.5-page article on the event titled, “YO-HO-HO and a Bottle of MUMM!” The MUMM company additionally paid Spence for using the champagne during his marriage celebration. This experience illustrates how publicity adds to the values of recovered “treasure” and artifacts.
Spence also talks about the values of artifacts like spikes, portholes and ship pieces as well as coins, furnishings, jewelry and other objects, which may seem less valuable but are not because they come from treasure wrecks.
“Dr. Spence tells the tale to the world of what ‘treasure hunting’ involves. It is more than just the value we would assume, but one of real-world reality. It especially piques my interest when he relates information like the value of a more than 100-year-old Scotch bottle in today’s market. Then he poses the question, ‘What if we had a lot of them?’ How do we present that to the market?” said TSR CEO Craig Huffman. “Dr. Spence has been through all of this. It may be easier to value gold coins we find, but he is adept at finding even more exclusive items, such as wines, alcohol, crucifixes, certain jewelries and so much more. How is the value of such unique items even determined? Well, Dr. Spence has been through it all. That is our advantage with having him.”
Dr. Spence additionally details the various kinds of values, such as the present-day bulk values of metals from certain ships contrasted with their historic value.
“What TSR now has is an expert who, through this 19-page paper, has set out for our shareholders, the public and the world precisely how we will build value, utilize publicity, and meet and exceed expectations as we leverage his knowledge and renown in our pursuit of success,” stated Huffman.
Additional information set forth in the paper includes bullion values, fair market values, decorative values, intrinsic values, jewelry values, museum values, numismatic values and even regional values, as well as other value TSR expects to receive from the artifacts recovered and gathered under Dr. Spence.
As a strategic and informative guide for the public and shareholders, Dr. Spence’s paper is a breakthrough in the shipwreck treasure and artifact recovery industry.
The full document is available at www.treasurewreck.com.
Additional information on Dr. Spence and some of his past discoveries is available at www.shipwrecks.com/about-spence.
FORWARD LOOKING STATEMENTS: This press release and the statements of representatives of TSR. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, TSR’s ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
COMPANY CONTACT: Website: www.treasurewreck.com
Craig A. Huffman EMAIL: Craig@treasurewreck.com
INVESTOR RELATIONS: TELEPHONE: (877) 723-5477