$OMEX
ODYSSEY MARINE EXPLORATION INC

2022 Q4 Form 10-Q Financial Statement

#000095017022025117 Filed on November 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $286.4K $358.4K $197.1K
YoY Change 14.48% 81.89% -6.85%
Cost Of Revenue
YoY Change
Gross Profit $286.4K $358.4K $197.1K
YoY Change 14.48% 81.89% -6.85%
Gross Profit Margin 100.0% 100.0% 100.0%
Selling, General & Admin $3.804M $2.214M $3.368M
YoY Change -11.26% -34.28% 14324.44%
% of Gross Profit 1328.0% 617.59% 1709.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.88K $18.18K $2.050K
YoY Change 2561.33% 786.83% -79.5%
% of Gross Profit 20.91% 5.07% 1.04%
Operating Expenses $3.804M $2.214M $3.368M
YoY Change -11.26% -34.28% 14324.44%
Operating Profit -$3.517M -$3.720M -$3.171M
YoY Change -12.86% 17.31% -32.24%
Interest Expense -$3.549M $3.665M -$2.867M
YoY Change 20.37% -227.83% -254.27%
% of Operating Profit
Other Income/Expense, Net $205.4K -$3.670M -$22.14K
YoY Change -1.58% 16474.38% -99.24%
Pretax Income -$6.861M -$7.390M -$5.685M
YoY Change 338.92% 29.97% -24.97%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.772M -$5.455M -$4.085M
YoY Change -6327.89% 33.53% -25.01%
Net Earnings / Revenue -1666.08% -1522.07% -2073.23%
Basic Earnings Per Share -$0.19 -$0.28 -$0.31
Diluted Earnings Per Share -$0.19 -$0.28 -$307.8K
COMMON SHARES
Basic Shares Outstanding 19.51M 19.49M 13.27M
Diluted Shares Outstanding 19.48M 13.27M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.443M $6.783M $3.543M
YoY Change -36.55% 91.43% -61.11%
Cash & Equivalents $1.443M $6.800M $3.543M
Short-Term Investments
Other Short-Term Assets $947.4K $481.4K $215.0K
YoY Change 21.99% 123.93% -3.54%
Inventory
Prepaid Expenses $722.0K
Receivables $7.515K $422.7K $252.7K
Other Receivables $1.577M $10.00 $0.00
Total Short-Term Assets $3.975M $7.687M $4.011M
YoY Change 19.72% 91.65% -57.23%
LONG-TERM ASSETS
Property, Plant & Equipment $3.046M $648.2K $516.2K
YoY Change 535.82% 25.56% -20.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.405M $4.147M $3.006M
YoY Change 35.37% 37.96% 39.81%
Other Assets $34.30K $34.30K $41.81K
YoY Change 0.0% -17.97% 0.01%
Total Long-Term Assets $9.325M $6.613M $5.385M
YoY Change 66.85% 22.81% 15.35%
TOTAL ASSETS
Total Short-Term Assets $3.975M $7.687M $4.011M
Total Long-Term Assets $9.325M $6.613M $5.385M
Total Assets $13.30M $14.30M $9.396M
YoY Change 49.29% 52.2% -33.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.286M $2.569M $2.753M
YoY Change 25.78% -6.69% -66.58%
Accrued Expenses $40.48M $37.89M $29.56M
YoY Change 44.54% 28.17% 65.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.73M $20.28M $28.86M
YoY Change -4.61% -29.71% -9.99%
Total Short-Term Liabilities $64.69M $60.74M $61.17M
YoY Change 22.96% -0.7% 5.1%
LONG-TERM LIABILITIES
Long-Term Debt $25.01M $24.35M $15.82M
YoY Change 35.39% 53.99% 94.77%
Other Long-Term Liabilities $129.1K $186.4K $359.1K
YoY Change -59.11% -48.09% -91.73%
Total Long-Term Liabilities $25.14M $24.54M $16.17M
YoY Change 33.8% 51.73% 29.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.69M $60.74M $61.17M
Total Long-Term Liabilities $25.14M $24.54M $16.17M
Total Liabilities $89.83M $85.28M $42.53M
YoY Change 25.81% 100.52% -39.81%
SHAREHOLDERS EQUITY
Retained Earnings -$298.2M -$293.5M
YoY Change 8.41%
Common Stock $265.9M $264.6M
YoY Change 6.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$32.35M -$28.84M -$33.13M
YoY Change
Total Liabilities & Shareholders Equity $13.28M $14.34M $9.396M
YoY Change 49.09% 52.59% -33.11%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$4.772M -$5.455M -$4.085M
YoY Change -6327.89% 33.53% -25.01%
Depreciation, Depletion And Amortization $59.88K $18.18K $2.050K
YoY Change 2561.33% 786.83% -79.5%
Cash From Operating Activities -$3.222M -$3.360M -$1.298M
YoY Change 176.08% 158.79% -55.54%
INVESTING ACTIVITIES
Capital Expenditures $1.030M -$4.420K -$2.210K
YoY Change -34420.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities -$1.000M
YoY Change -392.29%
Cash From Investing Activities -$2.030M -$4.420K -$2.210K
YoY Change -698.47% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -87.95K -388.2K 57.11K
YoY Change -80.03% -779.71% -99.52%
NET CHANGE
Cash From Operating Activities -3.222M -3.360M -1.298M
Cash From Investing Activities -2.030M -4.420K -2.210K
Cash From Financing Activities -87.95K -388.2K 57.11K
Net Change In Cash -5.339M -3.752M -1.243M
YoY Change 320.98% 201.79% -113.99%
FREE CASH FLOW
Cash From Operating Activities -$3.222M -$3.360M -$1.298M
Capital Expenditures $1.030M -$4.420K -$2.210K
Free Cash Flow -$4.251M -$3.355M -$1.296M
YoY Change 265.25% 158.89% -55.62%

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us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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us-gaap Profit Loss
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CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
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us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
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omex Amortization Of Loan Prepayment Premium
AmortizationOfLoanPrepaymentPremium
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omex Amortization Of Loan Prepayment Premium
AmortizationOfLoanPrepaymentPremium
0
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
216286
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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us-gaap Share Based Compensation
ShareBasedCompensation
1025283
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6301005
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4537885
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
10641134
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6032172
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4136549
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
316823
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16141
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-316823
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16141
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2200000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1278218
omex Payment Of Operating Lease Liability
PaymentOfOperatingLeaseLiability
119895
omex Payment Of Operating Lease Liability
PaymentOfOperatingLeaseLiability
104303
omex Proceeds From Sale Of Equity Of Subsidiary
ProceedsFromSaleOfEquityOfSubsidiary
713879
us-gaap Repayments Of Debt
RepaymentsOfDebt
5361560
us-gaap Repayments Of Debt
RepaymentsOfDebt
355273
omex Repurchase Of Stockbased Awards Withheld For Payment Of Withholding Tax Requirements
RepurchaseOfStockbasedAwardsWithheldForPaymentOfWithholdingTaxRequirements
563268
omex Repurchase Of Stockbased Awards Withheld For Payment Of Withholding Tax Requirements
RepurchaseOfStockbasedAwardsWithheldForPaymentOfWithholdingTaxRequirements
0
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1810800
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16512375
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10856852
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1532521
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4507857
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2620169
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2274751
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6163205
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6782608
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3543036
us-gaap Interest Paid Net
InterestPaidNet
222000
us-gaap Interest Paid Net
InterestPaidNet
0
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Stock Issued1
StockIssued1
403012
us-gaap Stock Issued1
StockIssued1
100000
omex Gain On Debt Forgiveness
GainOnDebtForgiveness
370400
CY2022Q3 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.02
CY2021Q3 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
6.13
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
4.58
omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-18368943
omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-10033014
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Management uses estimates and assumptions in preparing these condensed consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were used.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Reclassifications</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain reclassifications have been made to the 2021 condensed consolidated financial statements in order to conform to the classifications used in 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. The reclassifications had no impact to operations or working capital.</span></p>
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
6.65
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8619236
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
916158
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3117731
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
916158
omex Short Term Investments Maturity Period
ShortTermInvestmentsMaturityPeriod
P3M
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19482118
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13273241
CY2022Q3 omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2021Q3 omex Exploration License Impairments
ExplorationLicenseImpairments
0
omex Exploration License Impairments
ExplorationLicenseImpairments
0
omex Exploration License Impairments
ExplorationLicenseImpairments
0
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16569240
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12971591
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-5455229
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-4085297
us-gaap Net Income Loss
NetIncomeLoss
-18368943
us-gaap Net Income Loss
NetIncomeLoss
-10033014
CY2022Q3 omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-5455229
CY2021Q3 omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-4085297
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16569240
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12971591
CY2022Q3 omex Shares Used In Computation For Earning Per Share Basic
SharesUsedInComputationForEarningPerShareBasic
19482118
CY2021Q3 omex Shares Used In Computation For Earning Per Share Basic
SharesUsedInComputationForEarningPerShareBasic
13273241
omex Shares Used In Computation For Earning Per Share Basic
SharesUsedInComputationForEarningPerShareBasic
16569240
omex Shares Used In Computation For Earning Per Share Basic
SharesUsedInComputationForEarningPerShareBasic
12971591
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.77
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.77
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
38648
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
156524
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
422656
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
268867
CY2022Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
4939515
CY2022Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
4939515
CY2022Q2 omex Offering Fees Withheld To Cover Offering Costs
OfferingFeesWithheldToCoverOfferingCosts
1800000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6800000
CY2022Q3 omex Working Capital Deficit
WorkingCapitalDeficit
53100000
CY2022Q3 us-gaap Assets
Assets
14300000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
92884
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
288056
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
54600
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
41000
us-gaap Operating Lease Cost
OperatingLeaseCost
163600
us-gaap Operating Lease Cost
OperatingLeaseCost
122000
CY2022Q3 us-gaap Loans Payable
LoansPayable
44638614
CY2021Q4 us-gaap Loans Payable
LoansPayable
41257007
us-gaap Debt Conversion Description
DebtConversionDescription
Anytime from 30 days after the maturity date, 37N had the option to convert all or a portion of the outstanding amount of the indebtedness into conversion shares equal to the quotient obtained by dividing (A) 125% of the amount of the indebtedness, by (B) the lower of $5.94 and 70% of the 10-day VWAP.
omex Percentage Of Shares Outstanding Post Conversion
PercentageOfSharesOutstandingPostConversion
0.199
omex Percentage Of Outstanding Voting Securities
PercentageOfOutstandingVotingSecurities
0.199
omex Percentage Of Payment Of Unpaid Principal Amount
PercentageOfPaymentOfUnpaidPrincipalAmount
1.10
CY2022Q3 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
From the maturity date to 29 days after the maturity date (July 24, 2022), we were permitted to prepay all (but not less than) an amount equal to 115% of the unpaid amount of the indebtedness.
CY2022Q3 omex Percentage Of Payment Of Unpaid Principal Amount
PercentageOfPaymentOfUnpaidPrincipalAmount
1.15
CY2022Q3 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
Anytime, after the 30th day after the maturity date (July 25, 2022), we were permitted to prepay all (but not less than) an amount equal to 125% of the unpaid amount of the indebtedness
CY2022Q3 omex Percentage Of Payment Of Unpaid Principal Amount
PercentageOfPaymentOfUnpaidPrincipalAmount
1.25
omex Prepayment Notice Prior To Repayment Period
PrepaymentNoticePriorToRepaymentPeriod
P10D
omex Exercise Notice Period
ExerciseNoticePeriod
P10D
omex Percentage Of Number Of Shares Issued After Exercise Notice
PercentageOfNumberOfSharesIssuedAfterExerciseNotice
0.199
omex Percentage Of Payment Of Unpaid Principal Amount After Exercise Notice
PercentageOfPaymentOfUnpaidPrincipalAmountAfterExerciseNotice
1.30
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2200000
omex Percentage Of Face Value Of Note
PercentageOfFaceValueOfNote
1.10
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
300000
CY2022Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
4939515
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
4939515
CY2022Q3 omex Offering Fees Withheld To Cover Offering Costs
OfferingFeesWithheldToCoverOfferingCosts
1800000
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.35
CY2022Q3 omex Purchase Price Of Warrant
PurchasePriceOfWarrant
3.35
CY2022Q3 omex Class Of Warrant Or Right Expiration Beginning Date
ClassOfWarrantOrRightExpirationBeginningDate
2022-12-10
CY2022Q3 omex Class Of Warrant Or Right Expiration Date
ClassOfWarrantOrRightExpirationDate
2027-06-10
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
4939515
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.35
CY2022Q3 omex Class Of Warrant Or Right Expiration Beginning Date
ClassOfWarrantOrRightExpirationBeginningDate
2022-12-10
CY2022Q3 omex Class Of Warrant Or Right Expiration Date
ClassOfWarrantOrRightExpirationDate
2027-06-10
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
293785
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
312646
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1025283
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
937939
CY2022Q3 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
0
CY2021Q3 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
0
omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
0
omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
0
CY2022Q3 us-gaap Loans Receivable With Variable Rates Of Interest1
LoansReceivableWithVariableRatesOfInterest1
0

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