Endurance Exploration Group Inc (EXPL)

[Goldenboy17]

How many days were they on-site last year?

Not sure about these items from the most recent 10-K.

Given the task list and the short weather window that we can work in the North Atlantic, we intend to resume our salvage operations in summer of 2016. The cost of recovering the cargo of the Connaught is estimated to be $1,200,000. The Company needs additional working capital to recover the cargo of the Connaught. There can be no assurances that the Company will be successful in securing additional working capital and therefore cannot represent it will ever be in position to recover the cargo of the Connaught.

Micah Eldred and Carl Dilley own a significant majority of our voting shares and their interests may differ from those of our other shareholders.

As of March 1, 2016, Micah Eldred and Carl Dilley own approximately 45.08% and 23.87% of our issued and outstanding shares of common stock, respectively (see “Item 4 – Security Ownership of Certain Beneficial Owners and Management”), and they will have significant influence over the outcome of matters that require shareholder approval, including election of directors and, accordingly, over our business and corporate matters. They may exercise their voting rights in ways that they believe is in their best interests, which may conflict with the interest of our other shareholders.

Our transfer agent is controlled by Micah Eldred, our Chairman, Chief Executive Officer and President.

There is doubt about our ability to continue as a going concern due to recurring losses from operations and insufficient cash resources to meet our business objectives, all of which means that we may not be able to continue operations.

As shown in the accompanying financial statements for the period January 19, 2006 (date of inception) to December 31, 2015, the Company incurred losses of $6,957,840. The Company has minimal liquid assets. These factors, among others, indicate that the Company will be unable to continue as a going concern for a reasonable period of time.