$OMEX
ODYSSEY MARINE EXPLORATION INC

2024 Q4 Form 10-Q Financial Statement

#000095017024126269 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $213.9K $175.9K
YoY Change 21.62% -50.93%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.733M $1.564M
YoY Change 10.81% -29.34%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.39K
YoY Change
% of Gross Profit
Operating Expenses $1.733M $1.564M
YoY Change 10.81% -29.34%
Operating Profit -$2.868M -$2.455M
YoY Change 16.81% -33.99%
Interest Expense $18.23M
YoY Change
% of Operating Profit
Other Income/Expense, Net $19.10M -$3.597M
YoY Change -631.03% -1.97%
Pretax Income $16.24M -$6.053M
YoY Change -368.23% -18.09%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $18.69M -$6.053M
YoY Change -408.75% 10.96%
Net Earnings / Revenue 8736.86% -3441.55%
Basic Earnings Per Share $0.90 -$0.19
Diluted Earnings Per Share $0.13 -$0.19
COMMON SHARES
Basic Shares Outstanding 21.73M 20.59M 19.98M
Diluted Shares Outstanding 25.22M 20.03M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.859M
YoY Change
Cash & Equivalents $2.859M $511.8K
Short-Term Investments
Other Short-Term Assets $278.7K $734.6K
YoY Change -62.06% 52.6%
Inventory
Prepaid Expenses $135.9K
Receivables $84.12K $71.51K
Other Receivables $16.80K
Total Short-Term Assets $3.222M $1.318M
YoY Change 144.49% -82.85%
LONG-TERM ASSETS
Property, Plant & Equipment $554.9K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $16.13M
YoY Change
Other Assets $34.30K $34.30K
YoY Change 0.0% 0.0%
Total Long-Term Assets $18.58M $17.41M
YoY Change 6.69% 163.3%
TOTAL ASSETS
Total Short-Term Assets $3.222M $1.318M
Total Long-Term Assets $18.58M $17.41M
Total Assets $21.80M $18.73M
YoY Change 16.39% 30.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $406.5K $586.7K
YoY Change -30.71% -77.16%
Accrued Expenses $9.606M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $19.38M
YoY Change
Total Short-Term Liabilities $30.95M $28.64M
YoY Change 8.07% -52.85%
LONG-TERM LIABILITIES
Long-Term Debt $3.794M
YoY Change
Other Long-Term Liabilities $63.74M
YoY Change
Total Long-Term Liabilities $67.53M $65.93M
YoY Change 2.42% 168.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.95M $28.64M
Total Long-Term Liabilities $67.53M $65.93M
Total Liabilities $98.48M $94.57M
YoY Change 4.13% 10.89%
SHAREHOLDERS EQUITY
Retained Earnings -$275.4M -$287.9M
YoY Change -4.32% -1.9%
Common Stock $259.4M $263.0M
YoY Change -1.39% -0.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$16.06M -$24.85M
YoY Change
Total Liabilities & Shareholders Equity $21.76M $18.73M
YoY Change 16.16% 30.64%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $18.69M -$6.053M
YoY Change -408.75% 10.96%
Depreciation, Depletion And Amortization $21.39K
YoY Change
Cash From Operating Activities -$1.555M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $4.030K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$4.030K
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities -1.555M
Cash From Investing Activities -4.030K
Cash From Financing Activities -3.158M
Net Change In Cash -4.717M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$1.555M
Capital Expenditures $4.030K
Free Cash Flow -$1.559M
YoY Change

Facts In Submission

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ODYSSEY MARINE EXPLORATION, INC.
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-75841062
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-85906534
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1666318
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
1185734
omex Common Stock Issued And Exchanged With Related Party
CommonStockIssuedAndExchangedWithRelatedParty
429569
us-gaap Profit Loss
ProfitLoss
13427676
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-76721923
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-88674942
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
538900
omex Key Management Personnel Compensation Share Based Payment
KeyManagementPersonnelCompensationShareBasedPayment
292250
omex Common Stock Issued For Debt Extinguishment
CommonStockIssuedForDebtExtinguishment
1303349
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
3926963
us-gaap Profit Loss
ProfitLoss
6772418
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-75841062
us-gaap Profit Loss
ProfitLoss
13427676
us-gaap Profit Loss
ProfitLoss
6772418
us-gaap Other Noncash Income
OtherNoncashIncome
590248
us-gaap Other Noncash Income
OtherNoncashIncome
628907
us-gaap Depreciation
Depreciation
58164
us-gaap Depreciation
Depreciation
236192
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
77443
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
502729
omex Amortization Of Finance Liability
AmortizationOfFinanceLiability
71395
omex Amortization Of Finance Liability
AmortizationOfFinanceLiability
274152
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2892088
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1412726
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1773903
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
963596
us-gaap Paid In Kind Interest
PaidInKindInterest
1204226
us-gaap Paid In Kind Interest
PaidInKindInterest
468891
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
121568
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
132085
us-gaap Share Based Compensation
ShareBasedCompensation
1666318
us-gaap Share Based Compensation
ShareBasedCompensation
538900
omex Gain Loss On Equity Method Investment
GainLossOnEquityMethodInvestment
96509
omex Gain Loss On Equity Method Investment
GainLossOnEquityMethodInvestment
190000
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
18471872
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-1574658
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
-26197
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3087
us-gaap Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
0
us-gaap Increase Decrease In Notes Receivable Related Parties Current
IncreaseDecreaseInNotesReceivableRelatedPartiesCurrent
-514294
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-129140
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-137259
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-464703
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-212843
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
30321
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1005903
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-554326
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
746039
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2411075
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8741824
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
323103
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
88380
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
578554
omex Payment For Investment In Unconsolidated Entity
PaymentForInvestmentInUnconsolidatedEntity
0
omex Payment For Investment In Unconsolidated Entity
PaymentForInvestmentInUnconsolidatedEntity
1000000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1000000
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
0
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
174106
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-88380
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-429557
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
15415000
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
3468750
us-gaap Repayments Of Debt
RepaymentsOfDebt
11379677
omex Proceeds From Sale Leaseback Financing Net
ProceedsFromSaleLeasebackFinancingNet
0
omex Proceeds From Sale Leaseback Financing Net
ProceedsFromSaleLeasebackFinancingNet
4050000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
303349
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
184601
omex Payment On Sale Leaseback Financing
PaymentOnSaleLeasebackFinancing
0
omex Payment On Sale Leaseback Financing
PaymentOnSaleLeasebackFinancing
235000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3485148
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8239769
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1162453
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-931612
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
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2859267
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
511809
us-gaap Interest Paid Net
InterestPaidNet
430282
us-gaap Interest Paid Net
InterestPaidNet
86687
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1185701
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1000000
omex Warrants Issued
WarrantsIssued
0
omex Warrants Issued
WarrantsIssued
3742362
us-gaap Stock Issued1
StockIssued1
246150
us-gaap Stock Issued1
StockIssued1
0
omex Ocean Minerals Llc Acquisition Liabilities
OceanMineralsLlcAcquisitionLiabilities
0
omex Ocean Minerals Llc Acquisition Liabilities
OceanMineralsLlcAcquisitionLiabilities
5719834
us-gaap Noncash Contribution Expense
NoncashContributionExpense
0
us-gaap Noncash Contribution Expense
NoncashContributionExpense
2735000
omex Non Cash Shipwreck Expenditures Financed
NonCashShipwreckExpendituresFinanced
0
omex Non Cash Shipwreck Expenditures Financed
NonCashShipwreckExpendituresFinanced
-4633
CY2024Q3 omex Non Restricted Cash Balance
NonRestrictedCashBalance
2900000
CY2024Q3 omex Working Capital Deficit
WorkingCapitalDeficit
27700000
CY2024Q3 us-gaap Assets
Assets
21800000
CY2024Q3 us-gaap Cash
Cash
2900000
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>
CY2024Q3 omex Exploration License Impairments
ExplorationLicenseImpairments
0
omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2023Q3 omex Exploration License Impairments
ExplorationLicenseImpairments
0
omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q3 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.75
CY2023Q3 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.79
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
4.16
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.41
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
18688236
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-3813285
us-gaap Net Income Loss
NetIncomeLoss
20659157
us-gaap Net Income Loss
NetIncomeLoss
13562793
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18688236
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3813285
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20659157
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13562793
CY2024Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
746505
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-256062
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
CY2024Q3 omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
-5285472
CY2023Q3 omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
0
omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
-5528725
omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
-214339
CY2024Q3 us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
10798965
CY2023Q3 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
17394715
us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
3398976
CY2024Q3 omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
-6279
CY2023Q3 omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
0
omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
-360690
omex Fair Value Change Of Convertible Debt
FairValueChangeOfConvertibleDebt
0
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3344025
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3813285
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2881035
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9949478
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20665783
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20025067
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20524779
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19871381
CY2024Q3 omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
24862
CY2023Q3 omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
0
omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
0
omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
5236
CY2024Q3 omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
3871880
CY2023Q3 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
174754
CY2024Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
519690
CY2023Q3 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
1386386
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
91459
CY2024Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
137043
CY2023Q3 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
131488
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1394132
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25219258
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20025067
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25914533
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21536962
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.9
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.68
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
84123
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
110320
CY2024Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
135917
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
608353
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
107553
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
119820
CY2024Q3 us-gaap Deposits Assets Current
DepositsAssetsCurrent
35266
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
15266
CY2024Q3 us-gaap Other Assets Current
OtherAssetsCurrent
278736
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
743439
us-gaap Proceeds From Other Operating Activities
ProceedsFromOtherOperatingActivities
9800000
CY2024Q3 omex Investment In Unconsolidated Entities
InvestmentInUnconsolidatedEntities
9924954
CY2023Q4 omex Investment In Unconsolidated Entities
InvestmentInUnconsolidatedEntities
9001646
CY2024Q3 omex Cash Consideration
CashConsideration
1000000
CY2024Q3 omex Investment Owned At Fair Value Second Closing
InvestmentOwnedAtFairValueSecondClosing
676921
CY2024Q3 omex Investment Owned At Fair Value Third Closing
InvestmentOwnedAtFairValueThirdClosing
769875
CY2024Q3 omex Investment Owned At Fair Value Of Equity Exchange Agreement
InvestmentOwnedAtFairValueOfEquityExchangeAgreement
4516007
CY2024Q3 omex Investment Transaction Cost
InvestmentTransactionCost
49988
CY2024Q3 omex Initial Closing Consideration
InitialClosingConsideration
10293052
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
54619
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
60002
us-gaap Operating Lease Cost
OperatingLeaseCost
164465
us-gaap Operating Lease Cost
OperatingLeaseCost
184666
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
68327
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
95658
CY2024Q3 us-gaap Loans Payable
LoansPayable
24269981
CY2023Q4 us-gaap Loans Payable
LoansPayable
27378905
CY2024Q3 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
29045
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
106488
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1063361
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3955449
CY2024Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
23177575
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
23316968
CY2024Q3 us-gaap Loans Payable Current
LoansPayableCurrent
19383847
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
15413894
CY2024Q3 us-gaap Long Term Loans Payable
LongTermLoansPayable
3793728
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
omex Fair Value Of The Obligation
FairValueOfTheObligation
58600000
CY2023 omex Fair Value Of The Obligation
FairValueOfTheObligation
52100000
CY2024Q3 us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
5200000
CY2023Q3 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
6500000
us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
5100000
CY2024Q3 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
37100000
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1181
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5239
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
347717
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
296332
CY2024Q3 omex Earnest Money Deposit
EarnestMoneyDeposit
450000
CY2023Q4 omex Earnest Money Deposit
EarnestMoneyDeposit
450000
CY2024Q3 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
1052650
CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
912915
CY2024Q3 omex Accrued Exploration License Fees
AccruedExplorationLicenseFees
7754270
CY2023Q4 omex Accrued Exploration License Fees
AccruedExplorationLicenseFees
6828872
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9605818
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8493358
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
500000
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4500000
CY2024Q3 omex Sale Leaseback Carrying Value Of Financing Liabilities
SaleLeasebackCarryingValueOfFinancingLiabilities
4200000
CY2023Q4 omex Sale Leaseback Carrying Value Of Financing Liabilities
SaleLeasebackCarryingValueOfFinancingLiabilities
4100000
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
135000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
540000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
540000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
4710000
CY2024Q3 omex Finance Lease Liability Payments Due After Year Three
FinanceLeaseLiabilityPaymentsDueAfterYearThree
0
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
5925000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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