10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-158364`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	omex-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 35 Cash Flow Statement 42

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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.01K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.01K	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
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$232.38K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Accounts receivable and other, net	`AccountsReceivableNetCurrent`	$542.38K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$517.17K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$495.53K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.47M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.47M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.85M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.47M	shares	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$15.82M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$16.74M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.15M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.29M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$593.82K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$528.11K	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`	$3.49M	USD	Point-in-time
Total assets	`Assets`	$2.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.37M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$6.55M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$7.23M	USD	Point-in-time
Deposit related to sale of marine assets	`DeferredRevenueCurrent`	$1.00M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$25.78M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$24.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.37M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$3.00M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$3.00M	USD	Point-in-time
Revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$7.64M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$7.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$44.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.96M	USD	Point-in-time
Commitments and contingencies (NOTE G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (NOTE G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $.0001 par value; 24,984,166 shares authorized; none outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred stock - $.0001 par value; 24,984,166 shares authorized; none outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock - $.0001 par value; 75,000,000 shares authorized; 8,466,909 and 8,466,909 issued and outstanding for each period end presented	`CommonStockValue`	$847.00	USD	Point-in-time
Common stock - $.0001 par value; 75,000,000 shares authorized; 8,466,909 and 8,466,909 issued and outstanding for each period end presented	`CommonStockValue`	$847.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$212.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$212.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-234.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-236.45M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-24.25M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-22.61M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-15.38M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-16.27M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-37.98M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-40.52M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$3.49M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$2.97M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Recovered cargo sales and other	`SalesRevenueGoodsNet`	$15.74K	USD	1 Quarter
Expedition	`ExpeditionCharterRevenue`	$649.35K	USD	1 Quarter
Expedition	`ExpeditionCharterRevenue`	$496.00K	USD	1 Quarter
Total revenue	`Revenues`	$511.74K	USD	1 Quarter
Total revenue	`Revenues`	$649.35K	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.45M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$1.02M	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$1.30M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.47M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.93M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-1.96M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$714.90K	USD	1 Quarter
Interest expense	`InterestExpense`	$710.49K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$26.35K	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`	$-684.14K	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.96M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.64M	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`	$-2.64M	USD	1 Quarter
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-2.96M	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-759.09K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-896.62K	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-1.74M	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.47M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.47M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss before non-controlling interest	`ProfitLoss`	$-2.64M	USD	1 Quarter
Net loss before non-controlling interest	`ProfitLoss`	$-2.96M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$222.20K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$149.34K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$103.90K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$208.50K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-118.24K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$310.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-167.78K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$21.65K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-30.83K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$259.44K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$704.42K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$639.65K	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.22M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.01M	USD	1 Quarter
Deposit related to the future sale of marine assets	`DepositRelatedToFutureSaleOfMarineAssets`	$1.00M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.62K	USD	1 Quarter
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$990.38K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromIssuanceOfLongTermDebt`	$750.00K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromIssuanceOfLongTermDebt`	$375.00K	USD	1 Quarter
Settlement receipts from contractual obligation	`SettlementReceiptsFromContractualObligations`	$15.00M	USD	1 Quarter
Payment of contractual obligation	`PaymentOfContractualObligations`	$14.00M	USD	1 Quarter
Repayment of debt obligations	`RepaymentsOfDebt`	$128.84K	USD	1 Quarter
Repayment of debt obligations	`RepaymentsOfDebt`	$100.87K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.27M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$621.16K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-596.95K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$254.87K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.36M	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`	$1.11M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.36M	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`	$219.64K	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
Acquisition of equipment with debt	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$74.00K	USD	1 Quarter

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