10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-244340`
Period End Date	20180630
Filing Date	20180809
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	omex-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 68 Cash Flow Statement 53

Balance Sheet 72 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`	$565.84K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	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`	$10.01K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.01K	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`	$741.62K	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
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 issued	`CommonStockSharesIssued`	8.47M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.47M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$283.38K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$495.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.60M	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
Total current assets	`AssetsCurrent`	$1.85M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$11.03M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$16.74M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.74M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.15M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$295.64K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$593.82K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetNoncurrent`	$305.90K	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`	$838.40K	USD	Point-in-time
Total assets	`Assets`	$2.73M	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`	$2.68M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$6.55M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesAndOtherLiabilities`	$8.07M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$24.36M	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$25.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.62M	USD	Point-in-time
Loans payable	`LongTermLoansPayable`	$3.50M	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`	$8.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$44.76M	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`	$212.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$212.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-237.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-234.71M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-22.61M	USD	Point-in-time
Total stockholders' equity/(deficit) before non-controlling interest	`StockholdersEquity`	$-24.78M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-17.24M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-15.38M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-42.03M	USD	Point-in-time
Total stockholders' equity/(deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-37.98M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$2.97M	USD	Point-in-time
Total liabilities and stockholders' equity/(deficit)	`LiabilitiesAndStockholdersEquity`	$2.73M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Expedition	`ExpeditionCharterRevenue`	$1.24M	USD	2 Qtrs
Expedition	`ExpeditionCharterRevenue`	$587.27K	USD	1 Quarter
Expedition	`ExpeditionCharterRevenue`	$1.28M	USD	2 Qtrs
Expedition	`ExpeditionCharterRevenue`	$780.91K	USD	1 Quarter
Total revenue	`Revenues`	$1.07M	USD	1 Quarter
Total revenue	`Revenues`	$587.27K	USD	1 Quarter
Total revenue	`Revenues`	$1.59M	USD	2 Qtrs
Total revenue	`Revenues`	$1.24M	USD	2 Qtrs
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.75M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.94M	USD	2 Qtrs
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.38M	USD	2 Qtrs
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.49M	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$900.80K	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$452.88K	USD	1 Quarter
Operations and research	`OperationsAndResearchExpense`	$1.47M	USD	2 Qtrs
Operations and research	`OperationsAndResearchExpense`	$2.20M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$5.58M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$2.65M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$4.41M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$1.94M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.83M	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-868.57K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-2.06M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-4.35M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.38M	USD	2 Qtrs
Interest expense	`InterestExpense`	$730.93K	USD	1 Quarter
Interest expense	`InterestExpense`	$664.74K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.44M	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-10.48K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$21.34K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$61.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$15.87K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.32M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.43M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-643.40K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-741.41K	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.25M	USD	2 Qtrs
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.61M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.71M	USD	1 Quarter
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.66M	USD	2 Qtrs
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-4.25M	USD	2 Qtrs
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-2.71M	USD	1 Quarter
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-5.66M	USD	2 Qtrs
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	`ProfitLoss`	$-1.61M	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.87M	USD	2 Qtrs
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-789.64K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.55M	USD	2 Qtrs
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-968.42K	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-641.56K	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-1.92M	USD	1 Quarter
NET (LOSS)	`NetIncomeLoss`	$-2.39M	USD	2 Qtrs
NET (LOSS)	`NetIncomeLoss`	$-4.12M	USD	2 Qtrs
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	2 Qtrs
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	2 Qtrs
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.47M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.47M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.32M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.02M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.47M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.02M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.47M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.32M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss before non-controlling interest	`ProfitLoss`	$-4.25M	USD	2 Qtrs
Net loss before non-controlling interest	`ProfitLoss`	$-2.71M	USD	1 Quarter
Net loss before non-controlling interest	`ProfitLoss`	$-5.66M	USD	2 Qtrs
Net loss before non-controlling interest	`ProfitLoss`	$-1.61M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$431.42K	USD	2 Qtrs
Depreciation and amortization	`Depreciation`	$277.67K	USD	2 Qtrs
Accrued interest converted into common stock	`AccruedInterestConvertedIntoCommonStock`	$302.27K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$289.33K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$899.52K	USD	2 Qtrs
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$36.56K	USD	2 Qtrs
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$242.13K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$207.81K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$416.99K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-218.43K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$836.25K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-385.02K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-212.15K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$401.59K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$87.03K	USD	2 Qtrs
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$915.83K	USD	2 Qtrs
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$1.64M	USD	2 Qtrs
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-2.96M	USD	2 Qtrs
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-3.21M	USD	2 Qtrs
Cash proceeds from sale of vessel	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$50.00K	USD	2 Qtrs
Cash proceeds from sale of vessel	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00M	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$50.00K	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.62K	USD	2 Qtrs
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$994.04K	USD	2 Qtrs
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$50.00K	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromIssuanceOfLongTermDebt`	$3.00M	USD	2 Qtrs
Proceeds from issuance of notes payable	`ProceedsFromIssuanceOfLongTermDebt`	$875.00K	USD	2 Qtrs
Settlement receipts from contractual obligation	`SettlementReceiptsFromContractualObligations`	$15.00M	USD	2 Qtrs
Payment of contractual obligation	`PaymentOfContractualObligations`	$14.00M	USD	2 Qtrs
Repayment of debt obligations	`RepaymentsOfDebt`	$202.77K	USD	2 Qtrs
Repayment of debt obligations	`RepaymentsOfDebt`	$280.87K	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.67M	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$2.72M	USD	2 Qtrs
NET (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-542.35K	USD	2 Qtrs
NET (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-185.95K	USD	2 Qtrs
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.48M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.66M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$565.84K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.11M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.48M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.66M	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$565.84K	USD	Point-in-time
CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.11M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$210.51K	USD	2 Qtrs
Interest paid	`InterestPaidNet`	$520.89K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Financed equipment purchase	`CapitalExpendituresIncurredButNotYetPaid`	$74.00K	USD	2 Qtrs

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