For the project Holland and Zalinski founded the Nautilus Submarine Boat Company (1885-1886).

Edmund Zalinski and some of his friends and employees put in the funds for the prototype submarine.

The Holland IV was raised, reapaired and taken to Fort Hamilton in Brooklyn, New York.

The operator of the Holland IV would stand in the center of the vessel and was able to look out glass windows to maneuver the submarine.

Initial tests at Hendrick's Reef, near Fort Lafayette, New York, were good as the submarine was able to successfully drive and surfaces.