The families of two 14 year-old teens, whose boat was found empty off the coast of Florida, have now called off the search. 

The two teenage boys went missing after a fishing trip on July 24, shortly after their boat was found capsized 67 miles off the Ponde de Leon Inlet in Volusia County. The Coast Guard conducted a week-long search for the boys.

After the Coast Guard's efforts, the families continued a private search for the teens with volunteers scouring waters off Georgia and the Carolinas by helicopter, plane and boat, according to FOX News.

The family called the search off on Saturday after not finding any new credible evidence to guide their searches. 

The families say that their hopes have now become their prayers as they wait for developments. 

"Our families praise the Coast Guard's dedicated efforts, both before and after the vessel was located. The priority of the Coast Guard was to rescue Perry and Austin, not the boat," both families said in a statement. 

The families will be starting a foundation in honor of the boys that will promote youth boating education, including legislative action to enhance boater safety and ways to prevent accidents involving teenage boaters, according to the Orlando Sentinel.