10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-588954`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	omex-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 43 Cash Flow Statement 52

Balance Sheet 73 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`	24.96M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	24.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$704.45K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$826.61K	USD	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$801.58K	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
Other current assets	`OtherAssetsCurrent`	$502.70K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$559.09K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.54M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.54M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.54M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.54M	shares	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$22.46M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$22.50M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.95M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.63M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$2.55M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$2.83M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$540.59K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$540.59K	USD	Point-in-time
Total non-current assets	`NoncurrentAssetsExcludingPropertyPlantAndEquipment`	$540.59K	USD	Point-in-time
Total non-current assets	`NoncurrentAssetsExcludingPropertyPlantAndEquipment`	$540.59K	USD	Point-in-time
Total assets	`Assets`	$7.24M	USD	Point-in-time
Total assets	`Assets`	$6.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.81M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$5.04M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$4.27M	USD	Point-in-time
Deferred income	`DeferredRevenueCurrent`	$383.15K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$64.94K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$3.40M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$16.21M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$15.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.12M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$3.14M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$4.18M	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`	$7.78M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$8.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$32.46M	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	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock - $.0001 par value; 75,000,000 shares authorized; 7,541,111 issued and outstanding for each period end	`CommonStockValue`	$754.00	USD	Point-in-time
Common stock - $.0001 par value; 75,000,000 shares authorized; 7,541,111 issued and outstanding for each period end	`CommonStockValue`	$754.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$204.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$205.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-220.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-220.55M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-16.20M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-14.65M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-10.05M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-9.35M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquity`	$-24.70M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquity`	$-25.55M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$6.91M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$7.24M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Recovered cargo sales and other	`SalesRevenueGoodsNet`	$4.67K	USD	1 Quarter
Recovered cargo sales and other	`SalesRevenueGoodsNet`	$94.44K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$20.85K	USD	1 Quarter
Marine services	`MarineServicesRevenue`	$577.81K	USD	1 Quarter
Total revenue	`Revenues`	$582.48K	USD	1 Quarter
Total revenue	`Revenues`	$115.29K	USD	1 Quarter
Cost of sales - recovered cargo sales and other	`CostOfGoodsSold`	$212.88K	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.02M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$2.20M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$3.36M	USD	1 Quarter
Common stock issued for subsidiary stock option settlement	`CommonStockIssuedForSubsidiaryStockOptionSettlement`	$2.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.11M	USD	1 Quarter
(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-4.00M	USD	1 Quarter
(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-9.00M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$59.00	USD	1 Quarter
Interest expense	`InterestExpense`	$334.06K	USD	1 Quarter
Interest expense	`InterestExpense`	$662.28K	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$3.34M	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$-462.90K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$381.98K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-18.37K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.14M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$3.39M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.14M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-612.44K	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
(LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-10.14M	USD	1 Quarter
(LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-612.44K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-424.06K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-697.08K	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-9.71M	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$84.64K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.35	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.35	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.21M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.54M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.63M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.21M	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`	$-612.44K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$325.21K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$404.45K	USD	1 Quarter
Loss on sale of building and land	`GainLossOnSaleOfProperties`	$-29.40K	USD	1 Quarter
Financed lender fees	`FinancedLenderFees`	$50.00K	USD	1 Quarter
Change in derivatives liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$3.34M	USD	1 Quarter
Change in derivatives liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$-462.90K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$292.28K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$13.58K	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`	$334.63K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$594.61K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-98.16K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$25.04K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-135.99K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$56.39K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$199.92K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$244.61K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.27M	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$773.36K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$60.96K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-383.15K	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.31M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.67M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfRealEstate`	$850.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.50K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$51.22K	USD	1 Quarter
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-51.22K	USD	1 Quarter
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$811.50K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$3.33M	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromNotesPayable`	$2.00M	USD	1 Quarter
Restricted cash held as collateral on loans payable	`PaymentsForProceedsFromRestrictedCashHeldAsCollateralOnLoanPayable`	$-142.37K	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$76.79K	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$1.08M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.06M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.25M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$523.90K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.44M	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$704.45K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$704.45K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	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`	$320.07K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter

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