10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-166063`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	omex-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 41 Cash Flow Statement 43

Balance Sheet 74 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`	24.98M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	24.98M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	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
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$473.81K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$355.56K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$609.46K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$441.68K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.72M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.72M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.87M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.72M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.76M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$17.19M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$17.19M	USD	Point-in-time
Marine asset held for sale	`MarineAssetHeldForSale`	$416.33K	USD	Point-in-time
Marine asset held for sale	`MarineAssetHeldForSale`	$416.33K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.81M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.03M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$1.57M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$1.80M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$532.50K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$532.50K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$532.50K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$532.50K	USD	Point-in-time
Total assets	`Assets`	$5.08M	USD	Point-in-time
Total assets	`Assets`	$3.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$5.08M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$5.59M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$20.73M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$20.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.05M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$4.34M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$5.14M	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`	$8.98M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$9.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$36.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.83M	USD	Point-in-time
Commitments and contingencies (NOTE P)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (NOTE P)	`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; 7,718,366 and; 7,718,366 issued and outstanding for each period end presented	`CommonStockValue`	$772.00	USD	Point-in-time
Common stock - $.0001 par value; 75,000,000 shares authorized; 7,718,366 and; 7,718,366 issued and outstanding for each period end presented	`CommonStockValue`	$772.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$208.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$207.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-229.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-226.95M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-18.99M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-20.98M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-12.87M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-12.12M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-31.10M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-33.85M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$3.98M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$5.08M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Recovered cargo sales and other	`SalesRevenueGoodsNet`	$4.67K	USD	1 Quarter
Marine services	`MarineServicesRevenue`	$577.81K	USD	1 Quarter
Marine services	`MarineServicesRevenue`	$649.35K	USD	1 Quarter
Total revenue	`Revenues`	$582.48K	USD	1 Quarter
Total revenue	`Revenues`	$649.35K	USD	1 Quarter
Cost of sales - recovered cargo sales and other	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of sales - recovered cargo sales and other	`CostOfGoodsSold`	-	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$1.30M	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$2.20M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$4.58M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.93M	USD	1 Quarter
(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.28M	USD	1 Quarter
(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-4.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$714.90K	USD	1 Quarter
Interest expense	`InterestExpense`	$334.06K	USD	1 Quarter
Change in derivative liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$3.34M	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$381.98K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$39.66K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-675.23K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$3.39M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.96M	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`	$-2.96M	USD	1 Quarter
(LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-612.44K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-759.09K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-697.08K	USD	1 Quarter
NET (LOSS) INCOME	`NetIncomeLoss`	$84.64K	USD	1 Quarter
NET (LOSS) INCOME	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.28	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.28	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.72M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.54M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.54M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.63M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.72M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss before non-controlling interest	`ProfitLoss`	$-2.96M	USD	1 Quarter
Net loss before non-controlling interest	`ProfitLoss`	$-612.44K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$222.20K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$325.21K	USD	1 Quarter
Financed lender fees	`DebtRelatedCommitmentFeesAndDebtIssuanceCosts`	$50.00K	USD	1 Quarter
Change in derivatives liabilities fair value	`GainLossOnDerivativeInstrumentsNetPretax`	$3.34M	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$13.58K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$124.42K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$208.50K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$334.63K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-118.24K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$25.04K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$56.39K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-167.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$259.44K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$244.61K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$639.65K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$773.36K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-383.15K	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.22M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.67M	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
Proceeds from issuances of loans payable	`ProceedsFromIssuanceOfLongTermDebt`	$750.00K	USD	1 Quarter
Proceeds from issuances of loans payable	`ProceedsFromIssuanceOfLongTermDebt`	$3.33M	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentsOfDebt`	$76.79K	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentsOfDebt`	$128.84K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.25M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$621.16K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$523.90K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-596.95K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Interest paid	`InterestPaid`	$320.07K	USD	1 Quarter
Interest paid	`InterestPaid`	$114.90K	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.