Endurance Exploration Group Inc (EXPL)

[hedge_fun]

Some interesting highlights from today's filing...…

The recovered items are starting to show up on the balance sheet.

Inventory - $142,438

That was ending 9/30(Q3), but remember what happened 2 days after 9/30(Q4)?

On or about October 2, 2018, the United States District Court for the Middle District of Florida, Tampa Division rewarded the Company, operating through its previously announced joint venture, Swordfish Partners, with the entry of its Order granting Swordfish Partners title to those items set forth in the September 2018 Adjudication Report filed with the Court. As a result of the Court’s Order, Swordfish Partners acquired title to over 600 items and artifacts salvaged from the Steamship Pulaski , a steamship that sank 40 miles off the coast of North Carolina in 1838. Among the items recovered are over 500 gold and silver coins from all over the world that date back to the late 1700s and early 1800s.


Now there's some funky accounting you have do to come up with that figure, but when you find GOLD you can actually put that figure on the balance sheet.

Operations and research expenses

Operations and research expenses primarily include all costs within Research, which include costs for travel and consultants, and Salvage and Marine Operations, which include marina fees, repairs and maintenance, fuel, boat expenses and contract crew services. We incurred operations and research expenditures of $97,323 for the three months ended September 30, 2018. However, we only expensed $17,958 of the expenditures. The remaining $79,365 was capitalized in inventory as it related directly to the recovery of coins in the Steamship Pulaski. For the three months ended September 30, 2017 we incurred $20,309 of operations and research expenses.

https://ih.advfn.com/p.php?pid=nmona&article=78690808&_ga=2.14337780.214737094.1542064212-666280605.1540753112

Please note: I'm not a CPA and that might not have been explained the best by me, but I am pleased progress is being made. I wish it progressing at a more rapid pace. Hopefully we get a TV deal soon. I know they were looking at calling it Treasure Finder's, and that's good and all, but I like Buck Dynasty.

Just sayin'