2013 Form 10-K Financial Statement

#000119312514101158 Filed on March 17, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012 Q3
Revenue $23.91M $7.925M $946.1K
YoY Change 81.2% 734.21% -84.07%
Cost Of Revenue $694.8K $60.00K $54.24K
YoY Change 194.98% -33.33% -45.76%
Gross Profit $23.22M $7.868M $891.9K
YoY Change 79.13% 814.86% -84.73%
Gross Profit Margin 97.09% 99.28% 94.27%
Selling, General & Admin $14.16M $9.030M $2.986M
YoY Change 33.52% 19.76% -69.6%
% of Gross Profit 60.99% 114.77% 334.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.938M $400.0K $390.0K
YoY Change 21.93% -2.44% -15.22%
% of Gross Profit 8.35% 5.08% 43.73%
Operating Expenses $40.88M $9.030M $22.65K
YoY Change 42.03% 19.76% -99.77%
Operating Profit -$16.97M -$1.162M $923.4K
YoY Change 8.86% -82.6% -123.26%
Interest Expense $3.582M $250.0K $1.931M
YoY Change -42.82% -90.74% -258.26%
% of Operating Profit 209.08%
Other Income/Expense, Net $2.602M $0.00 $2.880M
YoY Change -200.13% 4699.22%
Pretax Income -$14.37M -$910.0K $3.803M
YoY Change -21.0% -77.14% -173.99%
Income Tax $496.1K $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$10.74M -$914.9K $3.803M
YoY Change -40.93% -77.01% -173.99%
Net Earnings / Revenue -44.92% -11.55% 401.97%
Basic Earnings Per Share $0.05
Diluted Earnings Per Share -$1.608M -$136.2K $0.05
COMMON SHARES
Basic Shares Outstanding 6.677M shares 78.54M shares
Diluted Shares Outstanding 6.677M shares 81.44M shares

Balance Sheet

Concept 2013 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.32M $10.10M $2.150M
YoY Change 111.09% 26.73% -78.61%
Cash & Equivalents $21.32M $10.10M $2.148M
Short-Term Investments
Other Short-Term Assets $11.77M $874.1K $1.850M
YoY Change 923.48% -11.71% 107.87%
Inventory $310.0K $418.9K $540.0K
Prepaid Expenses $772.7K
Receivables -$320.0K $2.102M $15.76M
Other Receivables $530.0K $0.00
Total Short-Term Assets $33.61M $13.77M $20.30M
YoY Change 144.08% 37.41% 68.6%
LONG-TERM ASSETS
Property, Plant & Equipment $9.780M $6.451M $6.760M
YoY Change 51.63% -1.21% -2.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $8.070M $1.103M $6.500M
YoY Change 20.81% -83.93% -5.25%
Total Long-Term Assets $17.85M $13.13M $13.26M
YoY Change 35.95% -1.95% -3.91%
TOTAL ASSETS
Total Short-Term Assets $33.61M $13.77M $20.30M
Total Long-Term Assets $17.85M $13.13M $13.26M
Total Assets $51.46M $26.90M $33.56M
YoY Change 91.3% 14.89% 29.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.470M $1.949M $2.470M
YoY Change 77.95% 75.55% 96.03%
Accrued Expenses $5.290M $14.05M $5.280M
YoY Change -62.35% 582.08% 186.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.37M $14.81M $24.01M
YoY Change 10.53% 208.54% 602.05%
Total Short-Term Liabilities $27.95M $39.00M $45.71M
YoY Change -28.33% 106.9% 183.38%
LONG-TERM LIABILITIES
Long-Term Debt $5.660M $4.010M $5.370M
YoY Change 41.15% -29.53% 169.85%
Other Long-Term Liabilities $4.640M $4.640M $4.640M
YoY Change 0.0% -44.76% -44.76%
Total Long-Term Liabilities $10.30M $8.655M $10.01M
YoY Change 19.08% -38.58% -3.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.95M $39.00M $45.71M
Total Long-Term Liabilities $10.30M $8.655M $10.01M
Total Liabilities $34.13M $47.66M $55.72M
YoY Change -28.39% 44.67% 110.11%
SHAREHOLDERS EQUITY
Retained Earnings -$165.2M
YoY Change
Common Stock $7.542K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.33M -$20.76M -$22.16M
YoY Change
Total Liabilities & Shareholders Equity $51.46M $26.90M $33.56M
YoY Change 91.3% 14.89% 29.88%

Cashflow Statement

Concept 2013 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$10.74M -$914.9K $3.803M
YoY Change -40.93% -77.01% -173.99%
Depreciation, Depletion And Amortization $1.938M $400.0K $390.0K
YoY Change 21.93% -2.44% -15.22%
Cash From Operating Activities -$20.07M $17.90M -$11.65M
YoY Change 200.01% -400.84% 131.15%
INVESTING ACTIVITIES
Capital Expenditures $4.505M -$100.0K -$250.0K
YoY Change 376.1% -75.61% 56.25%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.505M -$100.0K -$250.0K
YoY Change 376.1% -242.86% 56.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.36M
YoY Change 1104.13%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 35.80M -9.860M 10.52M
YoY Change 266.79% -358.79% -559.39%
NET CHANGE
Cash From Operating Activities -20.07M 17.90M -11.65M
Cash From Investing Activities -4.505M -100.0K -250.0K
Cash From Financing Activities 35.80M -9.860M 10.52M
Net Change In Cash 11.23M 7.940M -1.380M
YoY Change 428.37% -483.57% -81.58%
FREE CASH FLOW
Cash From Operating Activities -$20.07M $17.90M -$11.65M
Capital Expenditures $4.505M -$100.0K -$250.0K
Free Cash Flow -$24.57M $18.00M -$11.40M
YoY Change 221.83% -424.91% 133.61%

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272998
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10000000
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5000
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4733100
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2500000 shares
CY2013 dei Entity Registrant Name
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ODYSSEY MARINE EXPLORATION INC
CY2013 dei Entity Current Reporting Status
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Yes
CY2013 dei Amendment Flag
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false
CY2013 dei Entity Filer Category
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Accelerated Filer
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2013
CY2013 dei Document Type
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10-K
CY2013 dei Document Period End Date
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2013-12-31
CY2013 dei Entity Central Index Key
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0000798528
CY2013 dei Entity Well Known Seasoned Issuer
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No
CY2013 dei Current Fiscal Year End Date
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--12-31
CY2013 dei Document Fiscal Period Focus
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FY
CY2013 dei Entity Voluntary Filers
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No
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P2Y11M9D
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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0.340 pure
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80128827 shares
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4.32
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2.99
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0.00 pure
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2.24
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1233822 shares
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P1Y9M29D
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2014-04-30
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80128827 shares
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2007-08-17
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204500 shares
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Odyssey has the option to redeem the Series G Preferred, in whole or in part, at any time after December 15, 2010 at a redemption price of 100% of the liquidation value. Commencing after March 31, 2011, the redemption price increases 1.0% each month without cap. Each holder will have the option to require Odyssey to redeem the Series G Preferred, in whole or in part, at any time after December 15, 2011 at a redemption price commencing at 109% of the liquidation value, which increases 1.0% each without cap such that, after December 15, 2011, the holder’s and Odyssey’s redemption prices will equal. In either case, the redemption price to be paid by Odyssey for each share of Series G Preferred will be the redemption prices referred to above plus accrued dividends.
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1453600 shares
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>Use of Estimates</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. 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.</p> </div>
CY2013 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
24000000 shares
CY2013 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2573165
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2601597
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
183000
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
2451565
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11225843
CY2013 us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
10000000
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
790011
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
15000
CY2013 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8684797
CY2013 us-gaap Interest Expense
InterestExpense
3581642
CY2013 us-gaap Revenues
Revenues
23913949
CY2013 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
500000
CY2013 us-gaap Contracts Revenue
ContractsRevenue
115009
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1498040
CY2013 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
253347
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2042713
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-16966851
CY2013 us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
4385380
CY2013 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
45000
CY2013 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1206350
CY2013 us-gaap Interest Paid
InterestPaid
623160
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
6276369
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-14365254
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1792266
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-14861309
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-472715
CY2013 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
8608694
CY2013 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
9966
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4504779
CY2013 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
408826
CY2013 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4120037
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
35797247
CY2013 us-gaap Cost Of Goods Sold
CostOfGoodsSold
694787
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
CY2013 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-555064
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-176839
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1515694
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10361336
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-3483374
CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4504779
CY2013 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
10750
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
31640
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
CY2013 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
185113
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10000000
CY2013 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
496055
CY2013 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
CY2013 us-gaap Depreciation
Depreciation
1937641
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2582009
CY2013 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
CY2013 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
662745
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
481055
CY2013 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1961069
CY2013 us-gaap Interest Expense Debt
InterestExpenseDebt
2146182
CY2013 us-gaap Operating Expenses
OperatingExpenses
40880800
CY2013 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
15767
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
16250
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14161465
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
496055
CY2013 omex Charter Expedition Revenue
CharterExpeditionRevenue
115009
CY2013 omex Expedition Charter Revenue
ExpeditionCharterRevenue
131556
CY2013 omex Percentage Of Adjusted Conversion Price Of Quoted Market Prices
PercentageOfAdjustedConversionPriceOfQuotedMarketPrices
0.75 pure
CY2013 omex Period For Warrant Term
PeriodForWarrantTerm
P5Y6M
CY2013 omex Period For Registration Statement To Be Declared Effective
PeriodForRegistrationStatementToBeDeclaredEffective
90 days thereafter
CY2013 omex Payment For One Time Revenue Distribution
PaymentForOneTimeRevenueDistribution
12986
CY2013 omex Period For Registration Statement Subject To Review
PeriodForRegistrationStatementSubjectToReview
120 days thereafter
CY2013 omex Exhibit Revenue
ExhibitRevenue
112129
CY2013 omex Income Tax Reconciliation Deductions Derivatives
IncomeTaxReconciliationDeductionsDerivatives
783994
CY2013 omex Repayment Of Mortgage And Loans Payable
RepaymentOfMortgageAndLoansPayable
814089
CY2013 omex Marine Services Obligations Deferred Revenue
MarineServicesObligationsDeferredRevenue
1840404
CY2013 omex Redemptions Of Senior Convertible Notes
RedemptionsOfSeniorConvertibleNotes
889340
CY2013 omex Period For Anniversary Of Initial Closing Date
PeriodForAnniversaryOfInitialClosingDate
Five-year period beginning on the six-month
CY2013 omex Redemption Price Percent Of Liquidation Value
RedemptionPricePercentOfLiquidationValue
1.09 pure
CY2013 omex Deferred Revenue Settled With Zero Basis Stock Of Unconsolidated Entity
DeferredRevenueSettledWithZeroBasisStockOfUnconsolidatedEntity
440054
CY2013 omex Payment Restricted Cash Held As Collateral On Loan Payable
PaymentRestrictedCashHeldAsCollateralOnLoanPayable
10000000
CY2013 omex Shares Of Common Stock Issuable Upon Exercise Of Warrant
SharesOfCommonStockIssuableUponExerciseOfWarrant
434027 shares
CY2013 omex Prior Period Accrued Compensation Paid By Equity Instruments
PriorPeriodAccruedCompensationPaidByEquityInstruments
165748
CY2013 omex Number Of Financial Institutions In Which Cash Deposited
NumberOfFinancialInstitutionsInWhichCashDeposited
1 Institution
CY2013 omex Tax Benefits And Liabilities Prior To Any Valuation Allowances Related To Stock Option Plans
TaxBenefitsAndLiabilitiesPriorToAnyValuationAllowancesRelatedToStockOptionPlans
216675
CY2013 omex Derivative Income Expense Net
DerivativeIncomeExpenseNet
4385380
CY2013 omex Percentage Of Debt Instrument Conversion Price On Market Price Of Common Stock
PercentageOfDebtInstrumentConversionPriceOnMarketPriceOfCommonStock
1.250 pure
CY2013 omex Number Of Treasury Bills Owned
NumberOfTreasuryBillsOwned
0 Investment
CY2013 omex Senior Convertible Debit Interest Settled With Common Stock Issuance
SeniorConvertibleDebitInterestSettledWithCommonStockIssuance
671548
CY2013 omex Maximum Loan To Value Percentage
MaximumLoanToValuePercentage
0.80 pure
CY2013 omex Investment In Consolidated Entity
InvestmentInConsolidatedEntity
-301093
CY2013 omex Borrowing Base Value Of Secured Collateral Percentage
BorrowingBaseValueOfSecuredCollateralPercentage
0.40 pure
CY2013 omex Operations And Research
OperationsAndResearch
26024548
CY2013 omex Number Of Customers
NumberOfCustomers
1 Customer
CY2013 omex Income Tax Reconciliation Income Tax Expense Benefit At Alternative Minimum Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtAlternativeMinimumTaxRate
509495
CY2013 omex Period For Registration Statement Of Initial Closing Date
PeriodForRegistrationStatementOfInitialClosingDate
P6M
CY2013 omex Redemption Of Convertible Preferred Stock Amount
RedemptionOfConvertiblePreferredStockAmount
CY2013 omex Alternative Minimum Tax Rate
AlternativeMinimumTaxRate
0.20 pure
CY2013 omex Federal Tax Benefit Related To Operating Loss Carryforwards
FederalTaxBenefitRelatedToOperatingLossCarryforwards
0
CY2013 omex Income Tax Reconciliation Change In Net Operating Loss Estimate
IncomeTaxReconciliationChangeInNetOperatingLossEstimate
0
CY2013 omex Net Operating Loss Carried Forward Available For Offsetting Against Future Taxable Income Percentage As Original
NetOperatingLossCarriedForwardAvailableForOffsettingAgainstFutureTaxableIncomePercentageAsOriginal
0.90 pure
CY2013 omex Net Operating Loss Carry Back Period Option One
NetOperatingLossCarryBackPeriodOptionOne
P3Y
CY2013 omex Net Operating Loss Carry Back Period Option Two
NetOperatingLossCarryBackPeriodOptionTwo
P4Y
CY2013 omex Net Operating Loss Carry Back Period Option Three
NetOperatingLossCarryBackPeriodOptionThree
P5Y
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73889112 shares
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2013 omex Cash And Cash Equivalents Maturity Days
CashAndCashEquivalentsMaturityDays
P90D
CY2013 omex Income Tax Reconciliation Controlled Foreign Corporation Dividend Income
IncomeTaxReconciliationControlledForeignCorporationDividendIncome
9190723
CY2013 omex Purchase Of Subsidiary Stock
PurchaseOfSubsidiaryStock
1250000
CY2013 omex Percentage Of Acceleration Payment Of Remaining Face Value
PercentageOfAccelerationPaymentOfRemainingFaceValue
1.25 pure
CY2013 omex Exercise Of Warrants
ExerciseOfWarrants
922875
CY2013 omex Monthly Increase Of Redemption Price
MonthlyIncreaseOfRedemptionPrice
0.010 pure
CY2013 omex Incremental Percentage Of Original Value
IncrementalPercentageOfOriginalValue
0.010 pure
CY2013 omex Number Of Stock Incentive Plans
NumberOfStockIncentivePlans
1 Incentive_Plan
CY2013 omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-10741272
CY2013 omex Secured Collateral
SecuredCollateral
25000 Coins
CY2013 omex Proceeds From Sale Of Subsidiary Stock
ProceedsFromSaleOfSubsidiaryStock
27500000
CY2013 omex Short Term Investments Maturity Period
ShortTermInvestmentsMaturityPeriod
Three months or less
CY2013 omex Operating Lease Additional Lease Period
OperatingLeaseAdditionalLeasePeriod
P4Y
CY2013 omex Stock Issued During Period Shares Sale Of Subsidiary Stock
StockIssuedDuringPeriodSharesSaleOfSubsidiaryStock
500000 shares
CY2013 omex Stock Issued During Period Value Sale Of Subsidiary Stock
StockIssuedDuringPeriodValueSaleOfSubsidiaryStock
625000
CY2013 omex Stock Issued During Period Sale Of Subsidiary Stock Per Share Price
StockIssuedDuringPeriodSaleOfSubsidiaryStockPerSharePrice
1.25
CY2013 omex Settlement Of Vendor Payable With Subsidiary Stock
SettlementOfVendorPayableWithSubsidiaryStock
625000
CY2013 omex Distribution Ratio Of Remaining Net Proceed
DistributionRatioOfRemainingNetProceed
0.25 pure
CY2013 omex Attorney Fees Included In Marketing General And Administrative Expenses
AttorneyFeesIncludedInMarketingGeneralAndAdministrativeExpenses
942979
CY2013 omex Percentage Of Reimbursement Of Search And Recovery Expenses
PercentageOfReimbursementOfSearchAndRecoveryExpenses
0.20 pure
CY2013 omex Net Operating Loss Carry Back Period Original
NetOperatingLossCarryBackPeriodOriginal
P2Y
CY2013 omex Net Operating Loss Carry Back Period One
NetOperatingLossCarryBackPeriodOne
P5Y
CY2013 omex Net Operating Loss Carried Forward Available For Offsetting Against Future Taxable Income Percentage
NetOperatingLossCarriedForwardAvailableForOffsettingAgainstFutureTaxableIncomePercentage
1.00 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.42
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
73889112 shares
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.85
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6688759
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.25
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.61
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
771969 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73889112 shares
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
15150 shares
CY2012 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.20
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
736070 shares
CY2012 us-gaap Revenues
Revenues
13197515
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
832177
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
558499
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
8036658
CY2012 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2702761
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2598237
CY2012 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
9002
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
CY2012 us-gaap Profit Loss
ProfitLoss
-18184113
CY2012 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
119358
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-15585876
CY2012 us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
3631930
CY2012 us-gaap Interest Paid
InterestPaid
1368324
CY2012 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
400000
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-5385732
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-18184113
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1601315
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-18184113
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-65192
CY2012 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
4262528
CY2012 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
24420
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
946190
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-187673
CY2012 us-gaap Payments Of Dividends
PaymentsOfDividends
10000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9759569
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
235537
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4465868
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
14475
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
1489807
CY2012 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
10000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2124620
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
223720
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
12254102
CY2012 us-gaap Interest Expense
InterestExpense
6263589
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-181423
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
832653
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
860482
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-6180388
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-946190
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
17994
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
425561
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
19994483
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
CY2012 us-gaap Depreciation
Depreciation
1589133
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1657800
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
CY2012 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
CY2012 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
4120221
CY2012 us-gaap Interest Expense Debt
InterestExpenseDebt
4545781
CY2012 us-gaap Operating Expenses
OperatingExpenses
28783391
CY2012 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-42925
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-3914
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10606281
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2012 omex Charter Expedition Revenue
CharterExpeditionRevenue
709618
CY2012 omex Expedition Charter Revenue
ExpeditionCharterRevenue
4935857
CY2012 omex Exhibit Revenue
ExhibitRevenue
225000
CY2012 omex Income Tax Reconciliation Deductions Derivatives
IncomeTaxReconciliationDeductionsDerivatives
-322848
CY2012 omex Repayment Of Mortgage And Loans Payable
RepaymentOfMortgageAndLoansPayable
10685396
CY2012 omex Marine Services Obligations Deferred Revenue
MarineServicesObligationsDeferredRevenue
2835522
CY2012 omex Redemptions Of Senior Convertible Notes
RedemptionsOfSeniorConvertibleNotes
536003
CY2012 omex Prior Period Accrued Compensation Paid By Equity Instruments
PriorPeriodAccruedCompensationPaidByEquityInstruments
347528
CY2012 omex Series G Preferred Stock Conversion
SeriesGPreferredStockConversion
250000
CY2012 omex Tax Benefits And Liabilities Prior To Any Valuation Allowances Related To Stock Option Plans
TaxBenefitsAndLiabilitiesPriorToAnyValuationAllowancesRelatedToStockOptionPlans
230721
CY2012 omex Derivative Income Expense Net
DerivativeIncomeExpenseNet
3631930
CY2012 omex Senior Convertible Debit Interest Settled With Common Stock Issuance
SeniorConvertibleDebitInterestSettledWithCommonStockIssuance
349483
CY2012 omex Operations And Research
OperationsAndResearch
17941573
CY2012 omex Number Of Customers
NumberOfCustomers
3 Customer
CY2012 omex Income Tax Reconciliation Income Tax Expense Benefit At Alternative Minimum Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtAlternativeMinimumTaxRate
CY2012 omex Redemption Of Convertible Preferred Stock Amount
RedemptionOfConvertiblePreferredStockAmount
393166
CY2012 omex Warranty Expiry Period
WarrantyExpiryPeriod
P3Y
CY2012 omex Income Tax Reconciliation Change In Net Operating Loss Estimate
IncomeTaxReconciliationChangeInNetOperatingLossEstimate
832408
CY2012 omex Income Tax Reconciliation Controlled Foreign Corporation Dividend Income
IncomeTaxReconciliationControlledForeignCorporationDividendIncome
-374051
CY2012 omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-18194113
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2013Q1 us-gaap Revenues
Revenues
863072
CY2013Q1 us-gaap Gross Profit
GrossProfit
717371
CY2013Q1 us-gaap Profit Loss
ProfitLoss
-9665379
CY2012Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2012Q1 us-gaap Revenues
Revenues
2899752
CY2012Q1 us-gaap Gross Profit
GrossProfit
2865563
CY2012Q1 us-gaap Profit Loss
ProfitLoss
-5481799
CY2012Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2012Q2 us-gaap Revenues
Revenues
1426631
CY2012Q2 us-gaap Gross Profit
GrossProfit
1336739
CY2012Q2 us-gaap Profit Loss
ProfitLoss
-15590350
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2013Q2 us-gaap Revenues
Revenues
253745
CY2013Q2 us-gaap Gross Profit
GrossProfit
158661
CY2013Q2 us-gaap Profit Loss
ProfitLoss
-10895976
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.05
CY2012Q3 us-gaap Revenues
Revenues
946097
CY2012Q3 us-gaap Gross Profit
GrossProfit
891860
CY2012Q3 us-gaap Profit Loss
ProfitLoss
3802983
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
CY2013Q3 us-gaap Revenues
Revenues
5554460
CY2013Q3 us-gaap Gross Profit
GrossProfit
5384887
CY2013Q3 us-gaap Profit Loss
ProfitLoss
-931393
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
CY2012Q4 us-gaap Revenues
Revenues
7925035
CY2012Q4 us-gaap Gross Profit
GrossProfit
7867816
CY2012Q4 us-gaap Profit Loss
ProfitLoss
-914947
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
CY2013Q4 us-gaap Revenues
Revenues
17242672
CY2013Q4 us-gaap Gross Profit
GrossProfit
16958243
CY2013Q4 us-gaap Profit Loss
ProfitLoss
10751476

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