$OMEX
ODYSSEY MARINE EXPLORATION INC

2024 Q1 Form 10-Q Financial Statement

#000119312524141913 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $203.1K $803.8K
YoY Change -29.67% 180.65%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.035M $11.14M
YoY Change 114.85% 192.92%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.17K -$167.0K
YoY Change -86.66% -378.94%
% of Gross Profit
Operating Expenses $4.035M $11.14M
YoY Change 114.85% 192.92%
Operating Profit -$4.717M
YoY Change 39.69%
Interest Expense $1.820M -$13.21M
YoY Change -52.21% 272.16%
% of Operating Profit
Other Income/Expense, Net $5.638M -$1.515M
YoY Change -68.21% -837.8%
Pretax Income $921.0K -$3.885M
YoY Change -93.59% -43.38%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $3.498M $5.346M
YoY Change -78.93% -212.03%
Net Earnings / Revenue 1722.62% 665.07%
Basic Earnings Per Share $0.17
Diluted Earnings Per Share -$0.18 $0.27
COMMON SHARES
Basic Shares Outstanding 20.43M
Diluted Shares Outstanding 26.66M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.078M $4.022M
YoY Change 208.12% 178.62%
Cash & Equivalents $2.078M $4.022M
Short-Term Investments
Other Short-Term Assets $587.8K $743.4K
YoY Change -44.8% -21.53%
Inventory
Prepaid Expenses $572.3K $608.4K
Receivables $59.13K $110.3K
Other Receivables $30.00 $63.93K
Total Short-Term Assets $2.725M $4.875M
YoY Change -27.91% 22.65%
LONG-TERM ASSETS
Property, Plant & Equipment $609.4K $524.7K
YoY Change -78.62% -82.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.37M $15.38M
YoY Change 228.69% 249.06%
Other Assets $34.30K $34.30K
YoY Change 0.0% 0.0%
Total Long-Term Assets $17.87M $17.92M
YoY Change 90.51% 92.22%
TOTAL ASSETS
Total Short-Term Assets $2.725M $4.875M
Total Long-Term Assets $17.87M $17.92M
Total Assets $20.60M $22.80M
YoY Change 56.51% 71.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.299M $345.4K
YoY Change -9.74% -84.89%
Accrued Expenses $9.382M $8.493M
YoY Change -71.56% -79.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $16.31M $15.41M
YoY Change 755.23% -29.07%
Total Short-Term Liabilities $32.90M $31.47M
YoY Change -9.46% -51.36%
LONG-TERM LIABILITIES
Long-Term Debt $8.415M $7.903M
YoY Change -75.4% -68.4%
Other Long-Term Liabilities $70.38M $69.29M
YoY Change 89557.13% 53554.97%
Total Long-Term Liabilities $78.80M $77.19M
YoY Change 129.84% 207.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.90M $31.47M
Total Long-Term Liabilities $78.80M $77.19M
Total Liabilities $111.7M $108.7M
YoY Change 58.17% 20.97%
SHAREHOLDERS EQUITY
Retained Earnings -$292.6M -$296.1M
YoY Change 3.89% -0.72%
Common Stock $257.5M $263.6M
YoY Change -4.83% -0.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$35.05M -$32.48M
YoY Change
Total Liabilities & Shareholders Equity $20.63M $22.75M
YoY Change 56.76% 71.3%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $3.498M $5.346M
YoY Change -78.93% -212.03%
Depreciation, Depletion And Amortization $19.17K -$167.0K
YoY Change -86.66% -378.94%
Cash From Operating Activities -$1.669M -$2.800M
YoY Change -52.14% -13.07%
INVESTING ACTIVITIES
Capital Expenditures $103.9K $1.247M
YoY Change 1851.61% 21.1%
Acquisitions
YoY Change
Other Investing Activities -$722.3K
YoY Change -27.77%
Cash From Investing Activities -$103.9K -$1.969M
YoY Change 1851.61% -2.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.5K 6.958M
YoY Change -106.26% -8011.14%
NET CHANGE
Cash From Operating Activities -1.669M -2.800M
Cash From Investing Activities -103.9K -1.969M
Cash From Financing Activities -170.5K 6.958M
Net Change In Cash -1.944M 2.188M
YoY Change 152.75% -140.99%
FREE CASH FLOW
Cash From Operating Activities -$1.669M -$2.800M
Capital Expenditures $103.9K $1.247M
Free Cash Flow -$1.773M -$4.047M
YoY Change -49.24% -4.8%

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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2024Q1 us-gaap Increase Decrease In Accounts Payable
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2024Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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CY2024Q1 omex Offering Cost Paid On Financing
OfferingCostPaidOnFinancing
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CY2023Q1 omex Offering Cost Paid On Financing
OfferingCostPaidOnFinancing
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CY2024Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
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CY2023Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
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CY2024Q1 omex Repurchase Of Stockbased Awards Withheld For Payment Of Withholding Tax Requirements
RepurchaseOfStockbasedAwardsWithheldForPaymentOfWithholdingTaxRequirements
16398
CY2023Q1 omex Repurchase Of Stockbased Awards Withheld For Payment Of Withholding Tax Requirements
RepurchaseOfStockbasedAwardsWithheldForPaymentOfWithholdingTaxRequirements
0
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-170528
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1943665
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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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
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2078055
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
674428
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2024Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
0
CY2023Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1000000
CY2023Q1 omex Conversion Of Paid In Kind Interest Into Debt Principal
ConversionOfPaidInKindInterestIntoDebtPrincipal
0
CY2024Q1 omex Warrants Issued
WarrantsIssued
0
CY2023Q1 omex Warrants Issued
WarrantsIssued
3416594
CY2024Q1 omex Non Restricted Cash Balance
NonRestrictedCashBalance
2100000
CY2024Q1 omex Working Capital Deficit
WorkingCapitalDeficit
30100000
CY2024Q1 us-gaap Assets
Assets
20600000
CY2024Q1 us-gaap Cash
Cash
2100000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Use of Estimates </div></div> <div 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 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 revenues and expenses. Actual results could vary from the estimates that were used. </div>
CY2024Q1 omex Short Term Investments Maturity Period
ShortTermInvestmentsMaturityPeriod
P3M
CY2024Q1 omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2023Q1 omex Exploration License Impairments
ExplorationLicenseImpairments
0
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q1 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
4.44
CY2023Q1 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
3.21
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
3498024
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
22307687
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3498024
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22307687
CY2024Q1 omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
-1617819
CY2023Q1 omex Fair Value Change In Debt Instruments Gain Loss
FairValueChangeInDebtInstrumentsGainLoss
0
CY2024Q1 us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
6798430
CY2023Q1 us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
0
CY2024Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0
CY2023Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
3562
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4918225
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
22311249
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20425934
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19666459
CY2024Q1 omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
0
CY2023Q1 omex Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
4399
CY2024Q1 omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
0
CY2023Q1 omex Incremental Common Shares Attributable To Restricted Stock Awards
IncrementalCommonSharesAttributableToRestrictedStockAwards
170681
CY2024Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1909565
CY2023Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2024Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
4322601
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
37005
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26658100
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19878544
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.13
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.12
CY2024Q1 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
336857
CY2024Q1 us-gaap Option Contract Indexed To Equity Settlement Share Fair Value
OptionContractIndexedToEquitySettlementShareFairValue
4384777
CY2024Q1 omex Estimated Litigation Reserve Liability
EstimatedLitigationReserveLiability
52691820
CY2024Q1 omex Warrant Liability Two
WarrantLiabilityTwo
2268472
CY2024Q1 omex Warrant Liability One
WarrantLiabilityOne
9202078
CY2024Q1 omex Warrant Liability Three
WarrantLiabilityThree
5263018
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
74147022
CY2023Q4 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
702291
CY2023Q4 us-gaap Option Contract Indexed To Equity Settlement Share Fair Value
OptionContractIndexedToEquitySettlementShareFairValue
5637162
CY2023Q4 omex Estimated Litigation Reserve Liability
EstimatedLitigationReserveLiability
52115647
CY2023Q4 omex Warrant Liability Two
WarrantLiabilityTwo
2392563
CY2023Q4 omex Warrant Liability One
WarrantLiabilityOne
13399822
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
74247485
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
80363
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
56658
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
59126
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
110320
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
572268
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
608353
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
0
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
119820
CY2024Q1 us-gaap Deposits Assets Current
DepositsAssetsCurrent
15566
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
15266
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
587834
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
743439
CY2024Q1 omex Investment In Unconsolidated Entities
InvestmentInUnconsolidatedEntities
9057563
CY2023Q4 omex Investment In Unconsolidated Entities
InvestmentInUnconsolidatedEntities
9001646
CY2024Q1 omex Cash Consideration
CashConsideration
1000000
CY2024Q1 omex Investment Owned At Fair Value Second Closing
InvestmentOwnedAtFairValueSecondClosing
676921
CY2024Q1 omex Investment Owned At Fair Value Third Closing
InvestmentOwnedAtFairValueThirdClosing
769875
CY2024Q1 omex Investment Owned At Fair Value Of Equity Exchange Agreement
InvestmentOwnedAtFairValueOfEquityExchangeAgreement
4516007
CY2024Q1 omex Investment Transaction Cost
InvestmentTransactionCost
49988
CY2024Q1 omex Initial Closing Consideration
InitialClosingConsideration
10293052
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
80363
CY2024Q1 omex Property Plant And Equipment Gross Including Right Of Use Asset
PropertyPlantAndEquipmentGrossIncludingRightOfUseAsset
1928750
CY2023Q4 omex Property Plant And Equipment Gross Including Right Of Use Asset
PropertyPlantAndEquipmentGrossIncludingRightOfUseAsset
1824807
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1319319
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1300151
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
609431
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
524656
CY2024Q1 us-gaap Depreciation
Depreciation
19168
CY2023 us-gaap Depreciation
Depreciation
143647
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
54700
CY2024Q1 us-gaap Loans Payable
LoansPayable
27741436
CY2023Q4 us-gaap Loans Payable
LoansPayable
27378905
CY2024Q1 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
79343
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
106488
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2940799
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3955449
CY2024Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
24721294
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
23316968
CY2024Q1 us-gaap Loans Payable Current
LoansPayableCurrent
16306076
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
15413894
CY2024Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
8415218
CY2023Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
7903074
CY2024Q1 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.
CY2024Q1 omex Percentage Of Shares Outstanding Post Conversion
PercentageOfSharesOutstandingPostConversion
0.199
CY2024Q1 omex Percentage Of Outstanding Voting Securities
PercentageOfOutstandingVotingSecurities
0.199
CY2024Q1 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
CY2024Q1 omex Exercise Notice Period
ExerciseNoticePeriod
P10D
CY2024Q1 omex Percentage Of Number Of Shares Issued After Exercise Notice
PercentageOfNumberOfSharesIssuedAfterExerciseNotice
0.199
CY2024Q1 omex Percentage Of Payment Of Unpaid Principal Amount After Exercise Notice
PercentageOfPaymentOfUnpaidPrincipalAmountAfterExerciseNotice
1.30
CY2024Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
804997
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
52700000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
52100000
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1100000
CY2024Q1 omex Fair Value Of The Obligation
FairValueOfTheObligation
52700000
CY2023Q1 omex Fair Value Of The Obligation
FairValueOfTheObligation
52100000
CY2024Q1 us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
576000000000
CY2023Q1 us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
1700000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
994
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5239
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
245469
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
296332
CY2024Q1 omex Earnest Money Deposit
EarnestMoneyDeposit
450000
CY2023Q4 omex Earnest Money Deposit
EarnestMoneyDeposit
450000
CY2024Q1 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
1074058
CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
912915
CY2024Q1 omex Accrued Exploration License Fees
AccruedExplorationLicenseFees
7611291
CY2023Q4 omex Accrued Exploration License Fees
AccruedExplorationLicenseFees
6828872
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9381812
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8493358
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1462747
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
293785
CY2024Q1 omex Unisnsured Cash
UnisnsuredCash
1800000
CY2023Q4 omex Unisnsured Cash
UnisnsuredCash
3700000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
405000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
540000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
540000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
4700000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
6185000

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