The m-sequences are ideal pulse compression signals that combine the energy of CW with the resolution of a pulse. Successful applications include numerous acoustic propagation experiments and the Global Positioning System. Yet, early attempts (circa 1960) to apply m-sequences to mono-static active sonar were unsuccessful. Through the years, Birdsall, Metzger and others have developed a body of theory, numerical methods and at-sea demonstrations that establish the feasibility of a novel bi-static approach—one that holds promise in high reverberation shallow water environs. An analysis is presented here. The approach includes (1) continuous transmission of long m-sequences; (2) synchronous sampling to form a CON (Complete Ortho-Normal) data set; (3) direct blast removal by HCCO (Hyperspace Cancellation by Coordinate Zeroing); and (4) a full range waveform Doppler search. Ultra-fast Hadamard Transforms speed up the direct waveform pulse m-sequence pulse compression and the inverse pulse waveform transform and thereby allow timely execution of the intensive computational burden. The result is a demonstrable approach that produces a gain of 30 dB over a simple pulse and 10 dB over other sonar signals. In the end, the approach requires continuous transmission and reception as opposed to ping and listen an awkward concept at first.