10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-180833`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	omex-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 43 Cash Flow Statement 52

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`	$21.32M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	187.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$704.45K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$520.73K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$378.36K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$6.48M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$6.38M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Inventory	`InventoryNet`	$569.33K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Inventory	`InventoryNet`	$674.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	89.58M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$777.03K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	85.58M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$655.66K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.47M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	85.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	89.58M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.81M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$24.90M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$24.34M	USD	Point-in-time
Building and land	`BuildingsAndImprovementsGross`	$3.76M	USD	Point-in-time
Building and land	`BuildingsAndImprovementsGross`	$3.76M	USD	Point-in-time
Building and land held for sale	`RealEstateHeldforsale`	$1.02M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.44M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.11M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$7.24M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$5.99M	USD	Point-in-time
Inventory	`InventoryNoncurrent`	$5.08M	USD	Point-in-time
Inventory	`InventoryNoncurrent`	$5.11M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.27M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.20M	USD	Point-in-time
Total non-current assets	`NoncurrentAssetsExcludingPropertyPlantAndEquipment`	$6.38M	USD	Point-in-time
Total non-current assets	`NoncurrentAssetsExcludingPropertyPlantAndEquipment`	$6.28M	USD	Point-in-time
Total assets	`Assets`	$21.08M	USD	Point-in-time
Total assets	`Assets`	$25.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.07M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$2.39M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$2.45M	USD	Point-in-time
Deferred income	`DeferredRevenueCurrent`	$67.24K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$2.69M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$2.23M	USD	Point-in-time
Mortgage and loans payable	`LoansPayableCurrent`	$9.36M	USD	Point-in-time
Mortgage and loans payable	`LoansPayableCurrent`	$10.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.30M	USD	Point-in-time
Mortgage and loans payable	`LongTermLoansPayable`	$11.81M	USD	Point-in-time
Mortgage and loans payable	`LongTermLoansPayable`	$11.56M	USD	Point-in-time
Deferred income and revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Deferred income and revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$16.45M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$16.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.51M	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`	$144.46M	USD	Point-in-time
Common stock - $.0001 par value; 150,000,000 shares authorized; 89,582,502 and 85,582,502 issued and outstanding	`CommonStockValue`	$8.96K	USD	Point-in-time
Common stock - $.0001 par value; 150,000,000 shares authorized; 89,582,502 and 85,582,502 issued and outstanding	`CommonStockValue`	$8.56K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$198.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$201.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-202.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-212.14M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-10.69M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-4.10M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-6.31M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-6.73M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-17.43M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-10.40M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$21.08M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$25.09M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Recovered cargo sales and other	`SalesRevenueGoodsNet`	$564.60K	USD	1 Quarter
Recovered cargo sales and other	`SalesRevenueGoodsNet`	$94.44K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$1.48K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$20.85K	USD	1 Quarter
Total revenue	`Revenues`	$566.09K	USD	1 Quarter
Total revenue	`Revenues`	$115.29K	USD	1 Quarter
Cost of sales - cargo and other	`CostOfGoodsSold`	$119.61K	USD	1 Quarter
Cost of sales - cargo and other	`CostOfGoodsSold`	$212.88K	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.02M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.01M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$3.36M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$7.10M	USD	1 Quarter
Common stock issued for subsidiary stock option settlement	`CommonStockIssuedForSubsidiaryStockOptionSettlement`	$2.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.11M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-9.00M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-9.66M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$2.05K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$59.00	USD	1 Quarter
Interest expense	`InterestExpense`	$527.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$662.28K	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$-462.90K	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$-182.71K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$9.70K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-18.37K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-698.59K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.14M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.36M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.14M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-10.14M	USD	1 Quarter
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-10.36M	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-424.06K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-563.55K	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-9.71M	USD	1 Quarter
Basic and diluted (see NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Basic and diluted (see NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	83.94M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	86.52M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.52M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.94M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss before non-controlling interest	`ProfitLoss`	$-10.14M	USD	1 Quarter
Net loss before non-controlling interest	`ProfitLoss`	$-10.36M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$404.45K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$629.56K	USD	1 Quarter
Loss on sale of building and land	`GainLossOnSaleOfProperties`	$-29.40K	USD	1 Quarter
Loan fee amortization	`AmortizationOfFinancingCosts`	$15.05K	USD	1 Quarter
Change in derivatives liabilities fair value	`DerivativeLossOnDerivative`	$182.71K	USD	1 Quarter
Change in derivatives liabilities fair value	`DerivativeLossOnDerivative`	$462.90K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$292.28K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$256.56K	USD	1 Quarter
Inventory markdown	`InventoryWriteDown`	$151.92K	USD	1 Quarter
Common stock issued for subsidiary stock option settlement	`CommonStockIssuedForSubsidiaryStockOptionSettlement`	$2.52M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$594.61K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$742.77K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-98.16K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.48K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$365.67K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-135.99K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$199.92K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-890.72K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.27M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-385.57K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$-2.11M	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$60.96K	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.31M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.51M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$850.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.58M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.50K	USD	1 Quarter
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.58M	USD	1 Quarter
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$811.50K	USD	1 Quarter
Proceeds from issuance of loan payable	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	1 Quarter
Restricted cash held as collateral on loans payable	`ProceedsFromPaymentForRestrictedCashHeldAsCollateralOnLoanPayable`	$142.37K	USD	1 Quarter
Restricted cash held as collateral on loans payable	`ProceedsFromPaymentForRestrictedCashHeldAsCollateralOnLoanPayable`	$10.32M	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$1.08M	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$13.80M	USD	1 Quarter
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.06M	USD	1 Quarter
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.47M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.44M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.55M	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.32M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$704.45K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.32M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$704.45K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
Interest paid	`InterestPaid`	$364.02K	USD	1 Quarter
Interest paid	`InterestPaid`	$329.20K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$15.00K	USD	1 Quarter
Accrued compensation paid by equity instruments	`PriorPeriodAccruedCompensationPaidByEquityInstruments`	$113.13K	USD	1 Quarter

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