EXPL Endurance Exploration Group Inc (CE)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): June 23, 2014

ENDURANCE EXPLORATION GROUP, INC.

 (Exact name of registrant as specified in charter)

Nevada

(State or other jurisdiction of incorporation)

 

333-141817	03-0611187
(Commission File Number)	(IRS Employer Identification No.)

15500 Roosevelt Blvd, Suite 301

Clearwater, FL, 33760

(Address of principal executive offices and zip code)

(727) 289-0010

 (Registrant’s telephone number including area code)

Althardstrasse 10
CH-8105 Regensdorf, Switzerland

 (Former Address)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

 [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 [ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

 [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01 Entry Into a Material Definitive Agreement

On June 23, 2014, Endurance Exploration Group, Inc. (“Endurance”) entered into a contract with Eclipse Group Inc. (“Eclipse”) for Eclipse to provide personnel and services to Endurance in connection with the operation and monitoring of a remotely operated vehicle (“ROV”) in connection with Endurance’s investigation of a suspected shipwreck located off the coast of New England.  Steven Saint Amour, who serves as a member of the Board of Directors of Endurance, and Joan Saint Amour are the principal shareholders and officers of Eclipse.  

The contract provides that Eclipse will provide 2 people, including Mr. Saint Amour, for approximately four 12-hour days to operate and monitor the ROV, which will be provided by Endurance.  Endurance will issue 100,000 shares of common stock to Mr. Saint Amour, with an agreed value of $25,000, under the contract, and reimburse Eclipse in cash for its cost for the second ROV technician.  Endurance will also pay Eclipse in cash its cost plus 15% for all third party costs incurred by Eclipse, and provide Mr. Saint Amour and the second technician with food and lodging during the assignment.  A copy of the contract is attached hereto as Exhibit 10.1.

The contract was unanimously approved by the Board of Directors of Endurance.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1

Letter Agreement between Endurance Exploration Group, Inc. and Eclipse Group Inc.

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 

 

	ENDURANCE EXPLORATION GROUP, INC.
Dated:  June 24, 2014	By:	/s/ Micah Eldred
		Name:  Micah Eldred  Title: President and Chief Executive Officer

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Mr. Micah Eldred

June 5th, 2014

Endurance Exploration Group Inc.

Ref: 1419-01-EEG

15500 Roosevelt Blvd, Suite 303

St. Petersburg, FL 33760

Subject:  ROV Services

Dear Mr. Eldred,

Eclipse Group Inc. (EGI) is pleased to provide our offer for ROV related services in response to Endurance Exploration Inc.’s (RFP).

Endurance Exploration Group (EEG) has requested EGI to provide two ROV operations personnel for a 4-day expedition to investigate a suspect shipwreck located off the coast of New England.

EEG will provide the operations vessel and all associated equipment. EEG assumes the costs associated with the mobilization of personnel and equipment onto and off the client supplied vessel. EGI will only be responsible for the operations of the client provided equipment.  EEG assumes all liability for all client-supplied equipment.

The stated scope of work to which EGI is responding, is the provision of ROV services to perform wreck survey including:

Monitoring & Observation Operations:

·

Seabed survey, visual and sonar

·

Recovery of items of interest

Operational Assumptions:

·

Commencement date – July 2014

·

Duration – Approximatly 4-Days

·

Operations location – North Atlantic

·

Mobilization / Demobilization port – Gloucester, Massachusetts

·

Scope of Work: Wreck Investigation

·

Water depth - <1,000 ft.

·

Operations tempo – 12-hour

·

Client supplied services and information

·

Transportation of equipment to mobilization port

·

All pier side services related to mobilization and demobilization of personnel and equipment including:

·

Cranes

·

Fork trucks

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·

Welding Services

·

Local transportation

·

Suitable DP II Vessel

·

Suitable power for the ROV

·

Accommodations and victualing for ROV personnel at no cost to EGI

·

Subsea and surface navigation for ROV operations including beacons

·

ROV System

·

All permissions, licenses and permits

·

EGI Supplied Services

·

2-man ROV team

Pricing:

Steve Saint Amour - 100,000 shares of restricted shares, with a billable value of $25,000

2nd ROV Technician – Cost

Note: Personnel rates are portal to portal for the mobilization of the system. All third party costs will be charged at cost + 15%

Cost Narrative:

·

All quoted rates are in US Dollars and do not include VAT or any other local taxes which will be charged at documented cost +15%

·

All port and agent fees will be charged at documented cost +15%

·

Visas, work permits etc. which will be charged at documented cost +15%

·

The system will be manned for 12-hour operations

·

Estimated mobilization time, not including travel: 2-days

·

Estimated demobilization time, not including travel: 1-days

·

Victualing of EGI Team to the charters account

·

Client will provide suitable power for the ROV system at no cost to EGI

·

Offer valid for 30-days

·

Net 30-days

Company:

Eclipse Group Inc.

Company: Endurance Exploration Group Inc.

Printed Name:

Steve Saint Amour

Printed Name: Micah Eldred

Signed:

           

Signed:  /s/ Micah Eldred

Date: June 6, 2014

Date: June 24, 2014

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