Endurance Exploration Group, Inc.

CIK:0001392902|SEC Filings

ENDURANCE EXPLORATION GROUP, INC. - Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement
Revenues
Operating Expenses:
Operations and research	17,958	20,309	29,747	74,274
Marketing and promotion	3,465	4,224	29,835	32,088
General and administrative	39,283	76,853	235,851	164,486
Depreciation	11,544	15,450	35,310	63,991
TOTAL OPERATING EXPENSES	72,250	116,836	330,743	334,839
Net loss from operations	(72,250)	(116,836)	(330,743)	(334,839)
Other income (expense)
Interest expense	(7,473)		(17,941)
Total other income (expense)	(7,473)		(17,941)
Net loss	$ (79,723)	$ (116,836)	$ (348,684)	$ (334,839)
Basic and diluted loss per share	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding	43,729,478	43,024,369	43,544,405	43,076,274

ENDURANCE EXPLORATION GROUP, INC. - Consolidated Statements of Cash Flows	9 Months Ended
	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)
Cash flows from operating activities:
Net loss	$ (348,684)	$ (334,839)
Adjustments to reconcile net loss to net cash used by operating activities
Depreciation	35,310	63,991
Stock based compensation	119,460	59,193
Capitalization of salvage costs	(142,438)
Changes in operating assets and liabilities:
Accounts payable and accrued expenses, increase decrease	(7,573)	(25,980)
Net Cash used by Operating Activities	(343,925)	(237,635)
Cash Flows from Investing Activities:
Acquisition of equipment		(13,805)
Net Cash Used by Investing Activities		(13,805)
Cash Flows From Financing Activities:
Advances from related parties	340,000	252,500
Net Cash provided by Financing Activities	340,000	252,500
Net increase in cash	(3,925)	1,060
Cash, beginning of period	5,120	2,523
Cash, end of period	1,195	$ 3,583
May 29, 2018, sold equipment in exchange for the forgiveness of related party debt
Cash Flows From Financing Activities:
Common shares issued, Value	$ 38,689

ENDURANCE EXPLORATION GROUP, INC. - Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 1,195	$ 5,120
Prepaid expenses	350,000	350,000
Inventory	142,438
TOTAL CURRENT ASSETS	493,633	355,120
Fixed Assets:
Equipment, furniture and fixtures	682,842	693,221
Accumulated depreciation	(569,955)	(537,726)
Total Fixed Assets, net	112,887	155,495
Total Assets	606,520	510,615
Current Liabilities:
Accounts payable and accrued expenses	52,441	60,014
Loans and notes payable to related parties	645,311	344,000
Total Current Liabilities	697,752	404,014
TOTAL LIABILITIES	697,752	404,014
Stockholders' Deficit
Preferred stock
Common stock	437,884	434,104
Additional paid in capital	7,173,280	7,026,209
Accumulated deficit	(7,702,396)	(7,353,712)
TOTAL STOCKHOLDERS' DEFICIT	(91,232)	106,601
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 606,520	$ 510,615