I met Micah, the CEO of Endurance a couple of years ago at an investors conference in Atlanta. He comes off as very guinuine and sticks to the business model. I know raising money for them has been tougher than a DAWG, but he doesn't do floorless notes.
This joint venture makes sense in many ways and hopefully they can bring up $15-20MM at least so we can fund other projects like the Connaught. They secured rights to that wreck and in 2015 went out for a few weeks only to encounter commercial steel fishing nets that made operations risky. So they went back to the drawing board and came up with a solution. The only other problem was a lack of funds. The potential could be $50MM but they need about $1.5MM I think for operations.
The big fish in the pipeline (with funding) is The Black Marlin near Africa which could be $75MM or more. Hopefully The Pulaski will be a stepping stone to both.
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