Endurance Exploration Group, Inc. (“EXPL”) was incorporated in Nevada in 2006 as Tecton Corporation. In late December 2013, the Company wholly acquired Endurance Exploration Group, LLC and changed the name of the Company to Endurance Exploration Group, Inc. Endurance Exploration Group, LLC was formed in 2009 to research and develop feasibility methodologies to identify, acquire clear title to and ultimately salvage the cargos of shipwrecks.
Since the formation of their “salvage” business in 2009, the Company has achieved a number of the milestones they established at the time of that formation. For example, from the 10,000-foot view, estimates suggest that the world’s oceans hold the remains of over 3 million shipwrecks. Information regarding these disasters is housed in various databases around the world. Since its inception, the Company has identified and vetted approximately 125,000 wrecks from a number of these databases that it deems viable for further research. They have in turn narrowed that group to roughly 400 “high interest” targets. From their list of 400, the Company is currently focused on two primary targets and two additional secondary targets, all of which have been extensively researched by EXPL in terms of identification, title salvage economics.
The Company’s most imminent project previously nicknamed “Sailfish” is (was) a side-wheeled steamship called the “Connaught”. The Connaught, which EXPL located in 2014, was lost in 1860 after encountering rough waters and catching fire en route from Great Britain to the United States. The Connaught was a passenger ship with a considerable gold cargo amongst other assumed valuables. In July 2015, US Federal Courts granted EXPL exclusive salvage rights to the Connaught but by that time the salvage season/window was well under way. The upcoming (summer) season will provide the Company its first opportunity for salvage following the Courts edict. Their efforts to commence salvage operations will depend on their ability to attract adequate capital to do so.
With two additional projects identified beyond Connaught and recent target wreck discovered off the North Carolina Coast, Endurance is positioned to begin monetizing the work it has done over the past 6 or 7 years. With salvage efforts on the Connaught set to commence in the current year (pending financing) it could be a busy and newsy summer for EXPL.
15500 Roosevelt Blvd
Clearwater, FL 33760
Phone: (727) 289-0010
|Reporting Status||U.S. Reporting: SEC Reporting|
|Latest Report||Dec 31, 2015 OTCQB Certification|
|Fiscal Year End||12/31|
|SIC – Industry Classification||1000 – Metal Mining|
|Incorporated In:||NV, USA|
|Year of Inc.||Not Available|
|Micah Eldred||President, CEO, Officer|
|Guy Zajonc||VP, Business Development, IR|
|Christine Zitman||CFO, Officer|
|Steven Saint Armour|
Formerly=Tecton Corp. until 2-2014