$OMEX
ODYSSEY MARINE EXPLORATION INC

2024 Q3 Form 10-Q Financial Statement

#000095017024093873 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $213.9K $215.6K
YoY Change 21.62% 24.91%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.733M $2.205M
YoY Change 10.81% 21.09%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.39K $17.60K
YoY Change -93.3%
% of Gross Profit
Operating Expenses $1.733M $2.205M
YoY Change 10.81% 21.09%
Operating Profit -$2.868M -$3.016M
YoY Change 16.81% -4.16%
Interest Expense $18.23M $1.834M
YoY Change -57.68%
% of Operating Profit
Other Income/Expense, Net $19.10M -$712.7K
YoY Change -631.03% -85.44%
Pretax Income $16.24M -$3.729M
YoY Change -368.23% -53.63%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $18.69M -$1.527M
YoY Change -408.75% -73.32%
Net Earnings / Revenue 8736.86% -708.42%
Basic Earnings Per Share $0.90 -$0.07
Diluted Earnings Per Share $0.13 -$0.07
COMMON SHARES
Basic Shares Outstanding 20.59M 20.43M
Diluted Shares Outstanding 25.22M 20.48M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.859M $7.576M
YoY Change 313.52%
Cash & Equivalents $2.859M $7.576M
Short-Term Investments
Other Short-Term Assets $278.7K $391.0K
YoY Change -62.06% -60.15%
Inventory
Prepaid Expenses $135.9K $231.3K
Receivables $84.12K $75.57K
Other Receivables $16.80K $0.00
Total Short-Term Assets $3.222M $8.043M
YoY Change 144.49% 77.95%
LONG-TERM ASSETS
Property, Plant & Equipment $554.9K $597.3K
YoY Change -78.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $16.13M $15.79M
YoY Change 225.97%
Other Assets $34.30K $34.30K
YoY Change 0.0% 0.0%
Total Long-Term Assets $18.58M $18.26M
YoY Change 6.69% 92.58%
TOTAL ASSETS
Total Short-Term Assets $3.222M $8.043M
Total Long-Term Assets $18.58M $18.26M
Total Assets $21.80M $26.30M
YoY Change 16.39% 87.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $406.5K $345.9K
YoY Change -30.71% -62.92%
Accrued Expenses $9.606M $8.906M
YoY Change -75.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $19.38M $21.67M
YoY Change 877.5%
Total Short-Term Liabilities $30.95M $37.79M
YoY Change 8.07% -6.15%
LONG-TERM LIABILITIES
Long-Term Debt $3.794M $4.268M
YoY Change -88.97%
Other Long-Term Liabilities $63.74M $78.14M
YoY Change 293885.67%
Total Long-Term Liabilities $67.53M $82.41M
YoY Change 2.42% 112.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.95M $37.79M
Total Long-Term Liabilities $67.53M $82.41M
Total Liabilities $98.48M $120.2M
YoY Change 4.13% 52.15%
SHAREHOLDERS EQUITY
Retained Earnings -$275.4M -$294.1M
YoY Change -4.32% 2.36%
Common Stock $259.4M $258.4M
YoY Change -1.39% -4.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$16.06M -$35.71M
YoY Change
Total Liabilities & Shareholders Equity $21.76M $26.28M
YoY Change 16.16% 87.92%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $18.69M -$1.527M
YoY Change -408.75% -73.32%
Depreciation, Depletion And Amortization $21.39K $17.60K
YoY Change -93.3%
Cash From Operating Activities -$1.555M $5.635M
YoY Change -245.2%
INVESTING ACTIVITIES
Capital Expenditures $4.030K -$19.59K
YoY Change -121.23%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$4.030K $19.59K
YoY Change -97.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.158M -156.6K
YoY Change -103.83%
NET CHANGE
Cash From Operating Activities -1.555M 5.635M
Cash From Investing Activities -4.030K 19.59K
Cash From Financing Activities -3.158M -156.6K
Net Change In Cash -4.717M 5.498M
YoY Change 374.92%
FREE CASH FLOW
Cash From Operating Activities -$1.555M $5.635M
Capital Expenditures $4.030K -$19.59K
Free Cash Flow -$1.559M $5.655M
YoY Change -242.32%

Facts In Submission

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ODYSSEY MARINE EXPLORATION, INC.
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CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-70648431
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-85906534
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1564533
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
16398
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
246150
omex Adjustments To Additional Paid In Capital Warrant Liabilities
AdjustmentsToAdditionalPaidInCapitalWarrantLiabilities
-7754438
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
327388
omex Common Stock Issued And Exchanged With Related Party
CommonStockIssuedAndExchangedWithRelatedParty
429569
us-gaap Profit Loss
ProfitLoss
-2807759
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-93917489
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-88674942
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
665081
omex Common Stock Issued For Debt Extinguishment
CommonStockIssuedForDebtExtinguishment
1000000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
3536154
us-gaap Profit Loss
ProfitLoss
12825276
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-70648431
us-gaap Profit Loss
ProfitLoss
-2807759
us-gaap Profit Loss
ProfitLoss
12825276
us-gaap Other Noncash Income
OtherNoncashIncome
382885
us-gaap Other Noncash Income
OtherNoncashIncome
438208
us-gaap Depreciation
Depreciation
36766
us-gaap Depreciation
Depreciation
289511
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
54290
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
268673
omex Amortization Of Finance Liability
AmortizationOfFinanceLiability
45512
omex Amortization Of Finance Liability
AmortizationOfFinanceLiability
0
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2029298
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0
omex Amortization Of Loan Prepayment Premium
AmortizationOfLoanPrepaymentPremium
0
omex Amortization Of Loan Prepayment Premium
AmortizationOfLoanPrepaymentPremium
116826
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1184785
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
862467
us-gaap Paid In Kind Interest
PaidInKindInterest
1034102
us-gaap Paid In Kind Interest
PaidInKindInterest
0
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
0
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
288991
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
96512
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
86917
us-gaap Share Based Compensation
ShareBasedCompensation
1564532
us-gaap Share Based Compensation
ShareBasedCompensation
372831
omex Gain Loss On Equity Method Investment
GainLossOnEquityMethodInvestment
347365
omex Gain Loss On Equity Method Investment
GainLossOnEquityMethodInvestment
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
21177200
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
40000
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-1070562
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
284489
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
246150
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
0
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
32065
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
997642
us-gaap Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
0
us-gaap Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
176501
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-102561
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-89852
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-352475
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
33779
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-30245
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1056107
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-741073
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2189782
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3965761
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7570486
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
40001
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
84350
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
895856
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-84350
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
144145
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
15067746
omex Repurchase Of Stockbased Awards Withheld For Payment Of Withholding Tax Requirements
RepurchaseOfStockbasedAwardsWithheldForPaymentOfWithholdingTaxRequirements
16398
omex Repurchase Of Stockbased Awards Withheld For Payment Of Withholding Tax Requirements
RepurchaseOfStockbasedAwardsWithheldForPaymentOfWithholdingTaxRequirements
0
omex Offering Cost Paid On Financing
OfferingCostPaidOnFinancing
0
omex Offering Cost Paid On Financing
OfferingCostPaidOnFinancing
98504
us-gaap Repayments Of Debt
RepaymentsOfDebt
310737
us-gaap Repayments Of Debt
RepaymentsOfDebt
11139244
omex Proceeds From Sale Leaseback Financing Net
ProceedsFromSaleLeasebackFinancingNet
0
omex Proceeds From Sale Leaseback Financing Net
ProceedsFromSaleLeasebackFinancingNet
4050000
omex Payment On Sale Leaseback Financing
PaymentOnSaleLeasebackFinancing
0
omex Payment On Sale Leaseback Financing
PaymentOnSaleLeasebackFinancing
65000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-327135
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7814998
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3554276
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
388657
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4021720
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1443421
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7575996
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1832078
us-gaap Interest Paid Net
InterestPaidNet
399465
us-gaap Interest Paid Net
InterestPaidNet
134717
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
0
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1000000
omex Warrants Issued
WarrantsIssued
0
omex Warrants Issued
WarrantsIssued
3536154
us-gaap Stock Issued1
StockIssued1
246150
us-gaap Stock Issued1
StockIssued1
0
CY2024Q2 omex Non Restricted Cash Balance
NonRestrictedCashBalance
7600000
CY2024Q2 omex Working Capital Deficit
WorkingCapitalDeficit
29700000
CY2024Q2 us-gaap Assets
Assets
26300000
CY2024Q2 us-gaap Cash
Cash
7600000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Management used 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 revenue and expenses. Actual results could vary from the estimates that were used.</span></p>
CY2024Q2 omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2023Q2 omex Exploration License Impairments
ExplorationLicenseImpairments
0
omex Exploration License Impairments
ExplorationLicenseImpairments
0
omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2024Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q2 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
4.29
CY2023Q2 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.24
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
4.37
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.22
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1527103
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4931609
us-gaap Net Income Loss
NetIncomeLoss
1970921
us-gaap Net Income Loss
NetIncomeLoss
17376078
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1527103
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4931609
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1970921
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17376078
CY2024Q2 omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
0
CY2023Q2 omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
0
omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
-243253
omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
0
CY2024Q2 us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
0
CY2023Q2 us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
0
us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
682667
us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
0
CY2024Q2 omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
0
CY2023Q2 omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
0
omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
-354411
omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
0
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1527103
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4931609
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
690590
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
17376078
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20481072
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19918677
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20453503
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19793265
CY2024Q2 omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
0
CY2023Q2 omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
0
omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
69816
omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
4533
CY2024Q2 omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
0
CY2023Q2 omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
0
omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
3871880
omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
171361
CY2024Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1777412
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2024Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
189502
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
88735
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20481072
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19918677
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26362113
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20057894
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.1
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.87
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
75573
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
110320
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
231261
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
608353
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
124437
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
119820
CY2024Q2 us-gaap Deposits Assets Current
DepositsAssetsCurrent
35266
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
15266
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
390964
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
743439
CY2024Q2 us-gaap Proceeds From Other Operating Activities
ProceedsFromOtherOperatingActivities
9400000
CY2024Q2 omex Investment In Unconsolidated Entities
InvestmentInUnconsolidatedEntities
9533533
CY2023Q4 omex Investment In Unconsolidated Entities
InvestmentInUnconsolidatedEntities
9001646
CY2024Q2 omex Cash Consideration
CashConsideration
1000000
CY2024Q2 omex Investment Owned At Fair Value Second Closing
InvestmentOwnedAtFairValueSecondClosing
676921
CY2024Q2 omex Investment Owned At Fair Value Third Closing
InvestmentOwnedAtFairValueThirdClosing
769875
CY2024Q2 omex Investment Owned At Fair Value Of Equity Exchange Agreement
InvestmentOwnedAtFairValueOfEquityExchangeAgreement
4516007
CY2024Q2 omex Investment Transaction Cost
InvestmentTransactionCost
49988
CY2024Q2 omex Initial Closing Consideration
InitialClosingConsideration
10293052
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
26913
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
53188
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
53084
us-gaap Operating Lease Cost
OperatingLeaseCost
109846
us-gaap Operating Lease Cost
OperatingLeaseCost
123911
CY2024Q2 us-gaap Loans Payable
LoansPayable
27916977
CY2023Q4 us-gaap Loans Payable
LoansPayable
27378905
CY2024Q2 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
52199
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
106488
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1926150
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3955449
CY2024Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
25938628
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
23316968
CY2024Q2 us-gaap Loans Payable Current
LoansPayableCurrent
21670783
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
15413894
CY2024Q2 us-gaap Long Term Loans Payable
LongTermLoansPayable
4267845
CY2023Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
7903074
us-gaap Debt Conversion Description
DebtConversionDescription
At any time from 31 days after the maturity date, 37N has 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) 120% of the amount of the indebtedness, by (B) the lower of $3.66 or 70% of the 10-day volume-weighted average principal (“VWAP”) market trading price of Common Stock.
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
1.08
CY2022Q3 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
From the maturity date to 29 days after the maturity date (August 27, 2023), we were permitted to repay all (but not less than) of an amount equal to 112.5% of the unpaid amount of the indebtedness.
CY2022Q3 omex Percentage Of Payment Of Unpaid Principal Amount
PercentageOfPaymentOfUnpaidPrincipalAmount
1.125
CY2022Q3 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
At any time after the 30th day after the maturity date (August 28, 2023), we are permitted to repay all (but not less than) of an amount equal to 115% of the unpaid amount of the indebtedness after 10 days’ notice.
CY2022Q3 omex Percentage Of Payment Of Unpaid Principal Amount
PercentageOfPaymentOfUnpaidPrincipalAmount
1.15
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
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
53500000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
52100000
omex Fair Value Of The Obligation
FairValueOfTheObligation
53500000
CY2023 omex Fair Value Of The Obligation
FairValueOfTheObligation
52100000
CY2024Q2 us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
800000
CY2023Q2 us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
1700000
us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
1400000
us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
3400000
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2037
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5239
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
337192
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
296332
CY2024Q2 omex Earnest Money Deposit
EarnestMoneyDeposit
450000
CY2023Q4 omex Earnest Money Deposit
EarnestMoneyDeposit
450000
CY2024Q2 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
685956
CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
912915
CY2024Q2 omex Accrued Exploration License Fees
AccruedExplorationLicenseFees
7431053
CY2023Q4 omex Accrued Exploration License Fees
AccruedExplorationLicenseFees
6828872
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8906238
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8493358
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1600000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4500000
CY2024Q2 omex Sale Leaseback Carrying Value Of Financing Liabilities
SaleLeasebackCarryingValueOfFinancingLiabilities
4200000
CY2023Q4 omex Sale Leaseback Carrying Value Of Financing Liabilities
SaleLeasebackCarryingValueOfFinancingLiabilities
4100000
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
270000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
540000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
540000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
4710000
CY2024Q2 omex Finance Lease Liability Payments Due After Year Three
FinanceLeaseLiabilityPaymentsDueAfterYearThree
0
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
6060000

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0000950170-24-093873.txt Edgar Link pending
0000950170-24-093873-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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omex-ex10_1.htm Edgar Link pending
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