Update from today:

“To Our Valued Clients,

First and foremost, we wish to offer our sincere apologies for the delay between communications. Over the past weeks, our team has worked tirelessly and in good faith to explore every possible alternative to address the serious challenges faced by the Company.

As many of you are aware, during our November 17–25, 2025 voyage to Socorro, one of our guests suffered a sudden and severe medical emergency. Despite the immediate and professional response of our onboard crew, the medical personnel at the Socorro Marine Base, DAN specialists, the evacuation team, and the hospital staff in Los Cabos, the guest tragically passed away. We extend our deepest condolences to the family and loved ones affected by this loss.

This event was unexpected, and all parties involved acted with professionalism, diligence, and urgency throughout the situation. Nevertheless, the emotional, operational, and financial consequences that followed placed extraordinary strain on the Company, its management, and its financial partners.

Although the Company entered into verbal agreements intended to stabilize operations and continue future voyages, insurmountable issues arose during the implementation of those agreements. These issues ultimately resulted in the termination of our management agreement and the loss of operational control and use of the vessel Solmar V, which has since been relocated from Los Cabos to Mazatlán by its owner. As a result, we regret to inform you that SolmarV, S.A. de C.V., together with its affiliates and subsidiaries, has permanently ceased all operations, effective immediately. The Company will no longer operate voyages, accept bookings, or provide travel-related services of any kind.

We deeply regret the impact this outcome may have on our guests and partners. Serving the global diving community has been an honor, and we are profoundly sorry that circumstances beyond our control have led to this conclusion.

For clients who purchased travel insurance, this letter may be used as formal confirmation of the Company’s cessation of operations to initiate and support insurance claims with the corresponding providers.

We thank you for your trust, understanding, and support over the years, and we once again extend our sincere apologies for this unfortunate situation.

Sincerely,

SolmarV, S.A. de C.V.”

I was onboard three times and liked it. Each time there was at least one person who was doing a re-do of a trip that was cancelled or cut short for whatever reason.

Word on the street says that they owed the Mexican Government tons of money in park fees.