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More than $300,000 spent looking for wreck

Intersal Inc., of Boca Raton, Fla., hopes to recoup its investment through documentary, movie, book, replica and merchandising rights. A pending agreement between the state of North Carolina and Intersal will spell out what those rights entail.

"We were stunned with the degree of interest created by the discovery of Queen Anne's Revenge," says Phil Masters, president of Intersal. "We're in the process of formulating ideas and plans."

Among the possibilities will be the sale of replicas of items recovered from the wreck. These might include daggers, swords, pistols, muskets, navigational instruments and any gold, silver or jewelry objects found.

In addition, Masters says he has been approached by six documentary makers who want to tell the story of the QAR and her discovery: "We've spent the last five months fielding offers and whittling down the competition. We're close to deciding on who to go with."

Candidates include Nova, the Discovery Channel and National Geographic.

Masters says he has also engaged an agent and is in the process of producing an outline and first chapter of a book. The book would cover the story of the QAR and its infamous captain, the search for the ship and its discovery and excavation.

"I've never written a book before," Masters says, "but I'm going to give it my best shot."