$OMEX
ODYSSEY MARINE EXPLORATION INC

2017 Q4 Form 10-K Financial Statement

#000119312519094529 Filed on April 01, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $0.00 $11.85K $587.3K
YoY Change -99.59% -51.76%
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00 $11.85K $587.3K
YoY Change -99.59% -51.76%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $1.540M $1.863M $1.750M
YoY Change -53.75% -15.06% -9.7%
% of Gross Profit 15718.98% 297.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $160.0K $170.0K $210.0K
YoY Change -27.27% -29.17% -22.22%
% of Gross Profit 1434.12% 35.76%
Operating Expenses $1.540M $1.863M $1.750M
YoY Change -53.75% -15.06% -45.86%
Operating Profit -$1.540M -$2.470M -$2.063M
YoY Change 12.41% 2.44%
Interest Expense -$710.0K $638.9K $664.7K
YoY Change -18.39% 6.68% 11.48%
% of Operating Profit
Other Income/Expense, Net $0.00 -$635.8K -$643.4K
YoY Change -100.0% 5.93% 22.42%
Pretax Income -$2.250M -$3.106M -$2.707M
YoY Change -28.12% 11.02% 6.57%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.392M -$2.251M -$1.917M
YoY Change -42.22% 5.57% 3.13%
Net Earnings / Revenue -18990.19% -326.41%
Basic Earnings Per Share -$0.27 -$0.23
Diluted Earnings Per Share -$165.5K -$0.27 -$0.23
COMMON SHARES
Basic Shares Outstanding 8.389M shares 8.389M shares 8.323M shares
Diluted Shares Outstanding 8.389M shares 8.323M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.110M $1.340M $1.480M
YoY Change -33.13% 152.83% -19.13%
Cash & Equivalents $1.108M $1.342M $1.477M
Short-Term Investments
Other Short-Term Assets $495.5K $242.1K $224.4K
YoY Change -18.69% -41.82% -64.46%
Inventory
Prepaid Expenses $471.7K
Receivables $232.4K $263.7K $285.4K
Other Receivables $40.00K $50.00K $90.00K
Total Short-Term Assets $1.846M $1.858M $1.997M
YoY Change -33.01% -16.89% -50.87%
LONG-TERM ASSETS
Property, Plant & Equipment $593.8K $749.8K $923.2K
YoY Change -66.92% -62.85% -58.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $532.5K $532.5K $532.5K
YoY Change 0.0% 0.0% -0.02%
Total Long-Term Assets $1.126M $1.282M $1.456M
YoY Change -51.61% -49.73% -46.99%
TOTAL ASSETS
Total Short-Term Assets $1.846M $1.858M $1.997M
Total Long-Term Assets $1.126M $1.282M $1.456M
Total Assets $2.972M $3.140M $3.452M
YoY Change -41.53% -34.39% -49.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.397M $2.113M $1.484M
YoY Change 71.53% 0.66% 15.21%
Accrued Expenses $6.551M $6.070M $5.710M
YoY Change 29.01% 28.33% -1.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $24.36M $23.15M $21.61M
YoY Change 17.51% 30.35% 21.88%
Total Short-Term Liabilities $33.31M $31.33M $28.81M
YoY Change 22.44% 27.45% 16.15%
LONG-TERM LIABILITIES
Long-Term Debt $3.000M $3.000M $3.000M
YoY Change -30.88% -29.91% -29.08%
Other Long-Term Liabilities $4.640M $4.640M $4.640M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $7.644M $7.644M $7.644M
YoY Change -14.87% -14.36% -13.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.31M $31.33M $28.81M
Total Long-Term Liabilities $7.644M $7.644M $7.644M
Total Liabilities $40.96M $38.97M $36.45M
YoY Change 13.18% 16.32% 8.24%
SHAREHOLDERS EQUITY
Retained Earnings -$234.7M -$233.3M -$231.1M
YoY Change 3.42% 3.91% 3.89%
Common Stock $212.1M $212.0M $211.7M
YoY Change 1.99% 2.31% 2.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$22.61M -$21.31M -$19.33M
YoY Change
Total Liabilities & Shareholders Equity $2.972M $3.140M $3.452M
YoY Change -41.53% -34.39% -49.3%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income -$1.392M -$2.251M -$1.917M
YoY Change -42.22% 5.57% 3.13%
Depreciation, Depletion And Amortization $160.0K $170.0K $210.0K
YoY Change -27.27% -29.17% -22.22%
Cash From Operating Activities -$1.310M -$1.580M -$1.740M
YoY Change -26.82% 29.51% -33.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $30.00K $50.00K
YoY Change -75.0%
Cash From Investing Activities $0.00 $30.00K $50.00K
YoY Change -142.86% -73.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.080M 1.420M 2.100M
YoY Change -63.01% -14300.0% 40.0%
NET CHANGE
Cash From Operating Activities -1.310M -1.580M -1.740M
Cash From Investing Activities 0.000 30.00K 50.00K
Cash From Financing Activities 1.080M 1.420M 2.100M
Net Change In Cash -230.0K -130.0K 410.0K
YoY Change -120.35% -90.0% -143.62%
FREE CASH FLOW
Cash From Operating Activities -$1.310M -$1.580M -$1.740M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.310M -$1.580M -$1.740M
YoY Change -26.82% 37.39% -33.59%

Facts In Submission

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CY2017 us-gaap Income Tax Expense Benefit
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CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017 omex Senior Convertible Debit Interest Settled With Common Stock Issuance
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CY2017 omex Operations And Research Expense
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CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2018 dei Amendment Flag
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CY2018 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
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6.81
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CY2018 us-gaap Current Income Tax Expense Benefit
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CY2018 dei Current Fiscal Year End Date
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CY2018 us-gaap Deferred Income Tax Expense Benefit
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CY2018 us-gaap Depreciation
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CY2018 dei Document Fiscal Period Focus
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FY
CY2018 dei Document Fiscal Year Focus
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2018
CY2018 dei Document Type
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10-K
CY2018 us-gaap Earnings Per Share Basic And Diluted
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-0.60
CY2018 dei Entity Central Index Key
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0000798528
CY2018 dei Entity Well Known Seasoned Issuer
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CY2018 dei Entity Registrant Name
EntityRegistrantName
ODYSSEY MARINE EXPLORATION INC
CY2018 dei Entity Shell Company
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false
CY2018 dei Entity Small Business
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true
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 dei Entity Current Reporting Status
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Yes
CY2018 dei Entity Emerging Growth Company
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false
CY2018 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
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CY2018 us-gaap Income Tax Expense Benefit
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-92707
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1925000
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230500
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349598
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278947
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0
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CY2018 us-gaap Stockholders Equity Reverse Stock Split
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2015-08-31
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
9166 shares
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0
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2018 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> Management uses estimates and assumptions in preparing these consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were used.</p> </div>
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CY2018 dei Trading Symbol
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-5172436
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CY2018 omex Number Of Financial Institutions In Which Cash Deposited
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1 Institution
CY2018 omex Number Of Stock Incentive Plans
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CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2017Q1 us-gaap Profit Loss
ProfitLoss
-2199263
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
649353
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7564082 shares
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7564082 shares
CY2016 omex Accounts Payables Settled As Noncash Consideration For Sale Of Equipment
AccountsPayablesSettledAsNoncashConsiderationForSaleOfEquipment
890598
CY2016 omex Payments For Proceeds From Restricted Cash Held As Collateral
PaymentsForProceedsFromRestrictedCashHeldAsCollateral
10000
CY2016 omex Prior Period Accrued Compensation Paid With Equity Instruments
PriorPeriodAccruedCompensationPaidWithEquityInstruments
177500
CY2016 omex Director Fees Settled With Equity Instruments
DirectorFeesSettledWithEquityInstruments
176664
CY2016 omex Fair Value Of Warrants Issued In Connection With Convertible Debt
FairValueOfWarrantsIssuedInConnectionWithConvertibleDebt
303712
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2018Q1 us-gaap Gross Profit
GrossProfit
511735
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-1744762
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
511735
CY2016Q2 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
2 Directors
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.23
CY2017Q2 us-gaap Gross Profit
GrossProfit
587270
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-1916885
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
587270
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2018Q2 us-gaap Gross Profit
GrossProfit
1073479
CY2018Q2 us-gaap Profit Loss
ProfitLoss
-641557
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1073479
CY2016Q3 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
2 Directors
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.27
CY2017Q3 us-gaap Gross Profit
GrossProfit
11854
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-2251097
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11854
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.15
CY2018Q3 us-gaap Gross Profit
GrossProfit
886327
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-1309275
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
886327
CY2016Q4 omex Number Of Outside Directors Granted Quarterly Fees
NumberOfOutsideDirectorsGrantedQuarterlyFees
2 Directors
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-1392227
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2018Q4 us-gaap Gross Profit
GrossProfit
804212
CY2018Q4 us-gaap Profit Loss
ProfitLoss
-1476842
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
804212

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