10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-195062`
Period End Date	20140331
Filing Date	20140512
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	omex-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 41 Cash Flow Statement 56

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	9.68M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	9.68M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.69M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$361.20K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$207.00K	USD	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$212.48K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Inventory	`InventoryNet`	$314.74K	USD	Point-in-time
Inventory	`InventoryNet`	$687.64K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	83.88M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.08M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.42M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	83.94M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.45M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	83.88M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	83.94M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$33.61M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$22.00M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$23.52M	USD	Point-in-time
Building and land	`BuildingAndLand`	$4.76M	USD	Point-in-time
Building and land	`BuildingAndLand`	$4.76M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.97M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$17.56M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$9.78M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$10.72M	USD	Point-in-time
Inventory	`InventoryNoncurrent`	$5.21M	USD	Point-in-time
Inventory	`InventoryNoncurrent`	$5.20M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.62M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$2.87M	USD	Point-in-time
Total non-current assets	`NoncurrentAssetsExcludingPropertyPlantAndEquipment`	$6.82M	USD	Point-in-time
Total non-current assets	`NoncurrentAssetsExcludingPropertyPlantAndEquipment`	$8.07M	USD	Point-in-time
Total assets	`Assets`	$25.99M	USD	Point-in-time
Total assets	`Assets`	$51.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.09M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$2.95M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$5.29M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.84M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.84M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$970.82K	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableCurrent`	$16.37M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.53M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableNonCurrent`	$5.66M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableNonCurrent`	$5.12M	USD	Point-in-time
Deferred income from revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Deferred income from revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$10.31M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$9.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.29M	USD	Point-in-time
Commitments and contingencies (Note H)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note H)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $.0001 par value; 150,000,000 shares authorized; 83,939,140 and 83,882,577 issued and outstanding, respectively	`CommonStockValue`	$8.39K	USD	Point-in-time
Common stock - $.0001 par value; 150,000,000 shares authorized; 83,939,140 and 83,882,577 issued and outstanding, respectively	`CommonStockValue`	$8.39K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$194.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$193.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-185.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-175.95M	USD	Point-in-time
Total stockholders' equity before non-controlling interest	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.38M	USD	Point-in-time
Total stockholders' equity before non-controlling interest	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$17.33M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-4.68M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-4.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$51.46M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Artifact sales and other	`SalesRevenueGoodsNet`	$803.07K	USD	1 Quarter
Artifact sales and other	`SalesRevenueGoodsNet`	$564.60K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$1.48K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$60.00K	USD	1 Quarter
Total revenue	`Revenues`	$566.09K	USD	1 Quarter
Total revenue	`Revenues`	$863.07K	USD	1 Quarter
Cost of sales - artifacts and other	`CostOfGoodsSold`	$145.70K	USD	1 Quarter
Cost of sales - artifacts and other	`CostOfGoodsSold`	$119.61K	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.01M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.79M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$5.73M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$7.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.67M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.23M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-9.66M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-7.81M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$2.05K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$2.70K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$527.62K	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$-182.71K	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$-662.41K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$23.31K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$9.70K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.71M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-698.59K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.36M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.51M	USD	1 Quarter
Income tax (provision)	`IncomeTaxExpenseBenefit`	$150.74K	USD	1 Quarter
Income tax (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTEREST	`NetIncomeLoss`	$-9.67M	USD	1 Quarter
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTEREST	`NetIncomeLoss`	$-10.36M	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-563.55K	USD	1 Quarter
NET INCOME (LOSS)	`ProfitLoss`	$-9.80M	USD	1 Quarter
NET INCOME (LOSS)	`ProfitLoss`	$-9.67M	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	83.94M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	77.34M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.94M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.34M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss before non-controlling interest	`NetIncomeLoss`	$-9.67M	USD	1 Quarter
Net loss before non-controlling interest	`NetIncomeLoss`	$-10.36M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$453.73K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$629.56K	USD	1 Quarter
Investment in consolidated entity	`InvestmentInConsolidatedEntity`	$-301.09K	USD	1 Quarter
Loan fee amortization	`AmortizationOfFinancingCosts`	$15.05K	USD	1 Quarter
Loan fee amortization	`AmortizationOfFinancingCosts`	$69.30K	USD	1 Quarter
Change in derivatives liabilities fair value	`GainOnDerivativeInstrumentsPretax`	$-182.71K	USD	1 Quarter
Change in derivatives liabilities fair value	`GainOnDerivativeInstrumentsPretax`	$-662.41K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$620.04K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$256.56K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$688.58K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$742.77K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-324.53K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-45.88K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.48K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.52M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$365.67K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-245.31K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-890.72K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$46.69K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-385.57K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$238.86K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$-2.11M	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$-10.70M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-16.17M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.18M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.58M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.37M	USD	1 Quarter
NET CASH (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.58M	USD	1 Quarter
NET CASH (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.37M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.66M	USD	1 Quarter
Proceeds from sale of subsidiary stock	`ProceedsFromSaleOfSubsidiaryStock`	$15.00M	USD	1 Quarter
Restricted cash held as collateral on loan payable	`PaymentRestrictedCashHeldAsCollateralOnLoanPayable`	$-10.00M	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$13.80M	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$167.87K	USD	1 Quarter
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$19.49M	USD	1 Quarter
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.80M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$951.54K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.55M	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.32M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.32M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
Interest paid	`InterestPaid`	$329.20K	USD	1 Quarter
Interest paid	`InterestPaid`	$106.94K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$15.00K	USD	1 Quarter
Accrued compensation paid by equity instruments	`PriorPeriodAccruedCompensationPaidByEquityInstruments`	$165.75K	USD	1 Quarter
Accrued compensation paid by equity instruments	`PriorPeriodAccruedCompensationPaidByEquityInstruments`	$113.13K	USD	1 Quarter
Equipment purchased with financing	`CapitalExpendituresIncurredButNotYetPaid`	$27.88K	USD	1 Quarter
Debt repayment with common shares	`DebtConversionConvertedInstrumentAmount1`	$2.50M	USD	Annual
Debt repayment with common shares	`DebtConversionConvertedInstrumentAmount1`	$3.13M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.