$OMEX
ODYSSEY MARINE EXPLORATION INC

2016 Q4 Form 10-Q Financial Statement

#000119312516764432 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $0.00 $2.883M $1.459M
YoY Change -100.0% 97.66% 1115.08%
Cost Of Revenue $0.00 $873.5K
YoY Change -100.0% 3132.14%
Gross Profit $2.883M $585.1K
YoY Change 392.75% 529.04%
Gross Profit Margin 100.0% 40.11%
Selling, General & Admin $3.330M $2.194M $2.630M
YoY Change -37.52% -16.59% -5.47%
% of Gross Profit 76.09% 449.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $220.0K $240.0K $340.0K
YoY Change -33.33% -29.41% -86.23%
% of Gross Profit 8.32% 58.11%
Operating Expenses $3.330M $2.194M $5.810M
YoY Change -37.41% -62.24% -26.68%
Operating Profit -$2.197M -$4.351M
YoY Change -49.5% -44.25%
Interest Expense -$870.0K $598.9K $1.207M
YoY Change -66.28% -50.36% 348.75%
% of Operating Profit
Other Income/Expense, Net $80.00K -$600.2K -$1.223M
YoY Change -80.49% -50.93% -1040.99%
Pretax Income -$3.130M -$2.798M -$5.574M
YoY Change -354.47% -49.81% -27.36%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.410M -$2.132M -$4.580M
YoY Change -208.84% -53.45% -38.23%
Net Earnings / Revenue -73.96% -314.01%
Basic Earnings Per Share -$0.28 -$0.60
Diluted Earnings Per Share -$316.7K -$0.28 -$0.60
COMMON SHARES
Basic Shares Outstanding 7.600M shares 7.559M shares 7.482M shares
Diluted Shares Outstanding 7.559M shares 7.482M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.660M $530.0K $1.840M
YoY Change -25.89% -71.2% -50.4%
Cash & Equivalents $1.663M $529.5K $1.840M
Short-Term Investments
Other Short-Term Assets $609.5K $416.1K $495.3K
YoY Change 21.24% -15.99% -17.22%
Inventory $335.0K
Prepaid Expenses $582.6K
Receivables $473.8K $1.280M $596.8K
Other Receivables $40.00K $50.00K
Total Short-Term Assets $2.756M $2.236M $3.480M
YoY Change -22.27% -35.75% -71.17%
LONG-TERM ASSETS
Property, Plant & Equipment $1.795M $2.019M $5.305M
YoY Change -36.49% -61.95% -39.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $532.5K $532.5K $1.008M
YoY Change -1.5% -47.17% -21.85%
Total Long-Term Assets $2.328M $2.551M $17.08M
YoY Change -30.87% -85.07% 12.19%
TOTAL ASSETS
Total Short-Term Assets $2.756M $2.236M $3.480M
Total Long-Term Assets $2.328M $2.551M $17.08M
Total Assets $5.084M $4.787M $20.56M
YoY Change -26.46% -76.72% -24.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.397M $2.099M $2.425M
YoY Change -10.86% -13.46% -36.71%
Accrued Expenses $5.078M $4.730M $3.690M
YoY Change 19.05% 28.18% 14.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.73M $17.76M $30.78M
YoY Change 37.65% -42.3% 228.85%
Total Short-Term Liabilities $27.21M $24.58M $39.76M
YoY Change 10.25% -38.18% 105.23%
LONG-TERM LIABILITIES
Long-Term Debt $4.340M $4.280M $4.390M
YoY Change 38.22% -2.51% -44.99%
Other Long-Term Liabilities $4.640M $4.640M $4.640M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $8.979M $8.925M $9.029M
YoY Change 15.35% -1.16% -28.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.21M $24.58M $39.76M
Total Long-Term Liabilities $8.979M $8.925M $9.029M
Total Liabilities $36.19M $33.51M $48.79M
YoY Change 11.47% -31.33% 52.48%
SHAREHOLDERS EQUITY
Retained Earnings -$227.0M -$224.5M -$222.8M
YoY Change 2.86% 0.76% 13.02%
Common Stock $208.0M $207.2M $203.0M
YoY Change 1.72% 2.09% 2379005.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$18.99M -$17.32M -$19.86M
YoY Change
Total Liabilities & Shareholders Equity $5.084M $4.787M $20.56M
YoY Change -26.46% -76.72% -24.68%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$2.410M -$2.132M -$4.580M
YoY Change -208.84% -53.45% -38.23%
Depreciation, Depletion And Amortization $220.0K $240.0K $340.0K
YoY Change -33.33% -29.41% -86.23%
Cash From Operating Activities -$1.790M -$1.220M -$3.200M
YoY Change 0.56% -61.88% -51.22%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$70.00K $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 -$70.00K $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.920M -10.00K -580.0K
YoY Change 33.33% -98.28% -112.26%
NET CHANGE
Cash From Operating Activities -1.790M -1.220M -3.200M
Cash From Investing Activities 0.000 -70.00K 0.000
Cash From Financing Activities 2.920M -10.00K -580.0K
Net Change In Cash 1.130M -1.300M -3.780M
YoY Change 182.5% -65.61% 88.06%
FREE CASH FLOW
Cash From Operating Activities -$1.790M -$1.220M -$3.200M
Capital Expenditures $0.00 -$70.00K $0.00
Free Cash Flow -$1.790M -$1.150M -$3.200M
YoY Change 1.13% -64.06% -49.84%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2011Q4 omex Number Of Securities Called By Warrants Or Rights Upon Additional Financing
NumberOfSecuritiesCalledByWarrantsOrRightsUponAdditionalFinancing
36169 shares
CY2011Q4 omex Class Of Warrant Or Right Warrants Issued
ClassOfWarrantOrRightWarrantsIssued
108507 shares
CY2012Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
8000000
CY2012Q2 omex Number Of Securities Called By Warrants Or Rights Upon Additional Financing
NumberOfSecuritiesCalledByWarrantsOrRightsUponAdditionalFinancing
36169 shares
CY2012Q2 omex Class Of Warrant Or Right Warrants Issued
ClassOfWarrantOrRightWarrantsIssued
260417 shares
CY2014Q3 omex Fair Value Assumptions Quoted Price
FairValueAssumptionsQuotedPrice
2.50
CY2014Q4 omex Fair Value Assumptions Quoted Price
FairValueAssumptionsQuotedPrice
2.50
CY2016Q2 us-gaap Minimum Net Capital Required1
MinimumNetCapitalRequired1
35000000
CY2010Q4 omex Class Of Warrant Or Right Warrants Issued
ClassOfWarrantOrRightWarrantsIssued
150000 shares
CY2014Q4 omex Fair Value Assumptions Quoted Price
FairValueAssumptionsQuotedPrice
2.50
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1840401
CY2016Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.00
CY2016Q1 omex Fair Value Assumptions Quoted Price
FairValueAssumptionsQuotedPrice
1.25
CY2016Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
142
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
383148
CY2016Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15660923
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q3 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
130208 shares
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
7599894 shares
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
7599894 shares
CY2016Q3 us-gaap Assets
Assets
4786651
CY2016Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
274723
CY2016Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2016Q3 us-gaap Assets Current
AssetsCurrent
2235594
CY2016Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
65003356
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2016Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
207216887
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
529487
CY2016Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2315797
CY2016Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1280017
CY2016Q3 us-gaap Common Stock Value
CommonStockValue
760
CY2016Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
4643750
CY2016Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
2099051
CY2016Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2016Q3 us-gaap Deferred Revenue
DeferredRevenue
4643750
CY2016Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4727138
CY2016Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
40000000
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q3 us-gaap Loans Payable Current
LoansPayableCurrent
17755196
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
24984166 shares
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
416090
CY2016Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
8925014
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Liabilities
Liabilities
33506541
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4786651
CY2016Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
17679480
CY2016Q3 us-gaap Loans Payable
LoansPayable
22036460
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
24581527
CY2016Q3 us-gaap Minority Interest
MinorityInterest
-11396684
CY2016Q3 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
0
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
532500
CY2016Q3 us-gaap Long Term Loans Payable
LongTermLoansPayable
4281264
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2018557
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
-17323206
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-28719890
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-224540853
CY2016Q3 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
10000
CY2016Q3 omex Noncurrent Assets Excluding Property Plant And Equipment
NoncurrentAssetsExcludingPropertyPlantAndEquipment
532500
CY2016Q3 omex Revenue Participation Agreement Value
RevenueParticipationAgreementValue
15000000
CY2016Q3 omex Convertible Notes Payable Outstanding
ConvertibleNotesPayableOutstanding
14750000
CY2016Q3 omex Working Capital Deficit
WorkingCapitalDeficit
22300000
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7599894 shares
CY2013Q4 omex Fair Value Assumptions Quoted Price
FairValueAssumptionsQuotedPrice
2.50
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3143550
CY2015Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
3402416
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
19633420
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
7541111 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
7541111 shares
CY2015Q4 us-gaap Assets
Assets
6913016
CY2015Q4 us-gaap Assets Current
AssetsCurrent
3545590
CY2015Q4 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
3304812 shares
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
64553394
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
204438148
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2241317
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2315797
CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
801575
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
754
CY2015Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
4643750
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1567620
CY2015Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2015Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
383148
CY2015Q4 us-gaap Deferred Revenue
DeferredRevenue
5026898
CY2015Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4265456
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Loans Payable Current
LoansPayableCurrent
15058845
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
24984166 shares
CY2015Q4 us-gaap Other Assets Current
OtherAssetsCurrent
502698
CY2015Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
7784537
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Liabilities
Liabilities
32462022
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6913016
CY2015Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
22460256
CY2015Q4 us-gaap Loans Payable
LoansPayable
18199632
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
24677485
CY2015Q4 us-gaap Minority Interest
MinorityInterest
-9353493
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
540590
CY2015Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
3140787
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2826836
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-16195513
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-25549006
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-220634415
CY2015Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0
CY2015Q4 omex Fair Value Assumptions Quoted Price
FairValueAssumptionsQuotedPrice
2.50
CY2015Q4 omex Noncurrent Assets Excluding Property Plant And Equipment
NoncurrentAssetsExcludingPropertyPlantAndEquipment
540590
CY2016Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.50000 pure
CY2015Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.16666 pure
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-255745
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
6.96
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1303149
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.76
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1898111
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.76
us-gaap Depreciation
Depreciation
1093747
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.76
us-gaap Costs And Expenses
CostsAndExpenses
21328398
us-gaap Cost Of Goods Sold
CostOfGoodsSold
1250982
us-gaap Revenues
Revenues
2017487
us-gaap Interest Paid
InterestPaid
1098719
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
14750001
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3166828
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22819
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1446660
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
850000
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
2000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
-29404
us-gaap Net Income Loss
NetIncomeLoss
-20420945
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2056794
us-gaap Interest Expense
InterestExpense
2888386
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
805172
us-gaap Inventory Write Down
InventoryWriteDown
151922
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
411197
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2645548
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1277026
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-972352
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-272467
us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
122
us-gaap Operating Income Loss
OperatingIncomeLoss
-19310911
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
13271769
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-255745
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-22477739
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-15380090
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42828
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1689968
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7387952 shares
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9000307
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7387952 shares
us-gaap Profit Loss
ProfitLoss
-22477739
us-gaap Share Based Compensation
ShareBasedCompensation
2135071
omex Operations And Research
OperationsAndResearch
8557109
omex Repayment Of Mortgage And Loans Payable
RepaymentOfMortgageAndLoansPayable
1786844
omex Common Stock Issued For Subsidiary Stock Option Settlement
CommonStockIssuedForSubsidiaryStockOptionSettlement
2520000
omex Exhibit Revenue
ExhibitRevenue
45852
omex Expedition Charter Revenue
ExpeditionCharterRevenue
281667
omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-20420945
omex Payments For Proceeds From Restricted Cash Held As Collateral
PaymentsForProceedsFromRestrictedCashHeldAsCollateral
-308612
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1945448
dei Entity Registrant Name
EntityRegistrantName
ODYSSEY MARINE EXPLORATION INC
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000798528
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.31
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1711830
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.52
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1448646
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2014-04-13
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.000 pure
us-gaap Revenues
Revenues
4683035
us-gaap Interest Paid
InterestPaid
798263
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
4825000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2259562
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
386567
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1795073
us-gaap Depreciation
Depreciation
835428
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
us-gaap Costs And Expenses
CostsAndExpenses
12892225
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
200000
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Net Income Loss
NetIncomeLoss
-3906437
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2043191
us-gaap Interest Expense
InterestExpense
1529278
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
74850
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
478442
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1211810
us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
350000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
371840
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
163709
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
11007
us-gaap Operating Income Loss
OperatingIncomeLoss
-8209190
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
4738211
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
992595
invest Investment Options Expiration Date
InvestmentOptionsExpirationDate
2016-03-11
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-383148
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
449962
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
3402273
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5949628
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6524891
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.08333 pure
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> Management used 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>
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7057
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7548136 shares
omex Share Repurchase Agreement Expiration Date
ShareRepurchaseAgreementExpirationDate
2016-03-30
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
125150
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6511574
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2015-08-31
CY2015Q3 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
4.44
omex Expedition Charter Revenue
ExpeditionCharterRevenue
4675978
CY2015Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4732
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.60
omex Prior Period Accrued Compensation Paid With Equity Instruments
PriorPeriodAccruedCompensationPaidWithEquityInstruments
177500
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7548136 shares
dei Trading Symbol
TradingSymbol
OMEX
us-gaap Profit Loss
ProfitLoss
-5949628
us-gaap Share Based Compensation
ShareBasedCompensation
1436753
omex Estimated Annual Effective Tax Rate
EstimatedAnnualEffectiveTaxRate
0.1140 pure
omex Operations And Research
OperationsAndResearch
6380651
omex Repayment Of Mortgage And Loans Payable
RepaymentOfMortgageAndLoansPayable
76789
omex Short Term Investments Maturity Period
ShortTermInvestmentsMaturityPeriod
Three months or less
omex Dividends Received From Subsidiary
DividendsReceivedFromSubsidiary
3900000
omex Number Of Financial Institutions In Which Cash Deposited
NumberOfFinancialInstitutionsInWhichCashDeposited
1 Institution
omex Number Of Stock Incentive Plans
NumberOfStockIncentivePlans
2 Incentive_Plan
omex Estimated Market Rate Loan Percentage
EstimatedMarketRateLoanPercentage
0.15 pure
omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-3906437
omex Financed Lender Fees
FinancedLenderFees
50000
omex Accounts Payables Settled As Noncash Consideration For Sale Of Equipment
AccountsPayablesSettledAsNoncashConsiderationForSaleOfEquipment
890598
omex Payments For Proceeds From Restricted Cash Held As Collateral
PaymentsForProceedsFromRestrictedCashHeldAsCollateral
10000
CY2016Q2 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
2 Directors
omex Director Fees Settled With Equity Instruments
DirectorFeesSettledWithEquityInstruments
39399
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
504732
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.60
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
5809664
CY2015Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
873517
CY2015Q3 us-gaap Revenues
Revenues
1458653
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1223311
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-11944
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-4580255
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-994067
CY2015Q3 us-gaap Interest Expense
InterestExpense
1206662
CY2015Q3 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
27
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-4351011
CY2015Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-4732
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5574322
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1368795
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7481798 shares
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2630094
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7481798 shares
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-5574322
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2015Q3 omex Operations And Research
OperationsAndResearch
2306053
CY2015Q3 omex Exhibit Revenue
ExhibitRevenue
12500
CY2015Q3 omex Expedition Charter Revenue
ExpeditionCharterRevenue
77358
CY2015Q3 omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-4580255
CY2016Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3748
CY2016Q3 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.24
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
756145
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
5080591
CY2016Q3 us-gaap Revenues
Revenues
2883240
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-600246
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5063
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-2132303
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-665294
CY2016Q3 us-gaap Interest Expense
InterestExpense
598931
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2197351
CY2016Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
866604
CY2016Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
3748
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2797597
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2389
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7558835 shares
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2193734
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7558835 shares
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-2797597
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2016Q3 omex Operations And Research
OperationsAndResearch
2886857
CY2016Q3 omex Expedition Charter Revenue
ExpeditionCharterRevenue
2880851
CY2016Q3 omex Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-2132303
CY2016Q3 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
2 Directors

Files In Submission

Name View Source Status
0001193125-16-764432-index-headers.html Edgar Link pending
0001193125-16-764432-index.html Edgar Link pending
0001193125-16-764432.txt Edgar Link pending
0001193125-16-764432-xbrl.zip Edgar Link pending
d248917d10q.htm Edgar Link pending
d248917dex311.htm Edgar Link pending
d248917dex312.htm Edgar Link pending
d248917dex321.htm Edgar Link pending
d248917dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
g248917g1104050547068.jpg Edgar Link pending
omex-20160930.xml Edgar Link completed
omex-20160930.xsd Edgar Link pending
omex-20160930_cal.xml Edgar Link unprocessable
omex-20160930_def.xml Edgar Link unprocessable
omex-20160930_lab.xml Edgar Link unprocessable
omex-20160930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending