Odyssey Marine Exploration Files 2023 Annual Report
Ticker: OMEX · Form: 10-K · Filed: May 17, 2024 · CIK: 798528
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Odyssey Marine Exploration filed its 2023 10-K. Check financials and operations.
AI Summary
Odyssey Marine Exploration Inc. filed its 10-K for the fiscal year ending December 31, 2023. The company, headquartered in Tampa, FL, operates in the water transportation sector. This filing provides a comprehensive overview of its financial performance and business operations for the year.
Why It Matters
This 10-K filing is crucial for investors and stakeholders to understand Odyssey Marine Exploration's financial health, operational performance, and strategic direction for the past fiscal year.
Risk Assessment
Risk Level: medium — The company operates in a niche industry with potential for significant financial fluctuations based on exploration success and market conditions.
Key Numbers
- 20231231 — Fiscal Year End (Reporting period for the 10-K)
- 20240517 — Filing Date (Date the 10-K was submitted to the SEC)
Key Players & Entities
- ODYSSEY MARINE EXPLORATION INC (company) — Filer
- 20231231 (date) — Fiscal Year End
- 20240517 (date) — Filing Date
- TAMPA, FL (location) — Business Address
- WATER TRANSPORTATION [4400] (industry) — Standard Industrial Classification
FAQ
What were the key financial highlights for Odyssey Marine Exploration in the fiscal year ending December 31, 2023?
The 10-K filing for the period ending December 31, 2023, provides a detailed financial overview, but specific dollar amounts for revenue, net income, or assets are not present in the provided header information.
What is Odyssey Marine Exploration's primary business activity?
Odyssey Marine Exploration Inc. is classified under 'WATER TRANSPORTATION [4400]' according to its Standard Industrial Classification.
Where is Odyssey Marine Exploration Inc. located?
The company's business and mailing address is 205 S. Hoover Blvd., Suite 210, Tampa, FL 33609.
When was the company formerly known as Universal Capital Corp?
The company was formerly known as Universal Capital Corp, with a date of name change on 19920703.
What is the SEC file number for this 10-K filing?
The SEC file number for this 10-K filing is 001-31895.
Filing Stats: 4,412 words · 18 min read · ~15 pages · Grade level 14.8 · Accepted 2024-05-17 15:05:31
Key Financial Figures
- $0.0001 — tion 12(b) of the Act: Common Stock , $0.0001 par value OMEX Nasdaq Capital Market
- $2 billion — Our claim seeks compensation of over $2 billion on the basis that SEMARNAT's wrongful r
- $6.5 million — ecuted an agreement that provided up to $6.5 million in funding for prior, current and futur
- $10.0 million — of which the availability increased to $10.0 million. In December 2020, Odyssey announced it
- $10 million — ssey announced it secured an additional $10 million from the funder to aid in our NAFTA cas
- $5.0 million — nder agreed to fund up to an additional $5.0 million for arbitration costs. The funder will
Filing Documents
- d807754d10k.htm (10-K) — 4978KB
- d807754dex44.htm (EX-4.4) — 54KB
- d807754dex211.htm (EX-21.1) — 8KB
- d807754dex231.htm (EX-23.1) — 1KB
- d807754dex311.htm (EX-31.1) — 10KB
- d807754dex321.htm (EX-32.1) — 4KB
- g807754dsp4.jpg (GRAPHIC) — 1KB
- g807754g0418105541501.jpg (GRAPHIC) — 4KB
- g807754g0418105541924.jpg (GRAPHIC) — 30KB
- 0001193125-24-141624.txt ( ) — 28174KB
- omex-20231231.xsd (EX-101.SCH) — 142KB
- omex-20231231_cal.xml (EX-101.CAL) — 57KB
- omex-20231231_def.xml (EX-101.DEF) — 738KB
- omex-20231231_lab.xml (EX-101.LAB) — 873KB
- omex-20231231_pre.xml (EX-101.PRE) — 905KB
- d807754d10k_htm.xml (XML) — 7887KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 7 Item 1B. Unresolved Staff Comments 14 Item 1C. Cybersecurity 14 Item 2.
Properties
Properties 15 Item 3.
Legal Proceedings
Legal Proceedings 17 Item 4. Mine Safety Disclosures 17 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 18 Item 6. [Reserved] 19 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 33 Item 8.
Financial Statements
Financial Statements 33 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 33 Item 9A.
Controls and Procedures
Controls and Procedures 34 Item 9B. Other Information 35 Item 9C. Disclosure Regard Foreign Jurisdictions that Prevent Inspections 35 PART III Item 10. Directors, Executive Officers and Corporate Governance 35 Item 11.
Executive Compensation
Executive Compensation 35 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 35 Item 13. Certain Relationships and Related Transactions, and Director Independence 35 Item 14. Principal Accounting Fees and Services 35 PART IV Item 15. Exhibits and Financial Statement Schedules 36 Item 16. Form 10-K Summary 106 EXHIBITS INDEX 106
SIGNATURES
SIGNATURES 109 Table of Contents As used in this Comprehensive Annual Report on Form 10-K, "we," "us," "our company" and "Odyssey" mean Odyssey Marine Exploration, Inc. and our subsidiaries, unless the context indicates otherwise. Explanatory Note As previously disclosed in the Current Report on Form 8-K filed by the company with the Securities and Exchange Commission (the "SEC") on February 26, 2024, the Company's Audit Committee of the Board of Directors concluded that we would restate certain of our previously issued consolidated financial statements. This comprehensive Annual Report on Form 10-K (this "Comprehensive Form 10-K") for the year ended December 31, 2023, includes the following information in lieu of separate annual reports on Form 10-K and quarterly reports on Form 10-Q for the following periods: restated audited consolidated financial statements for the year ended December 31, 2022 (the "2022 Restatement"); restated unaudited consolidated financial statements for the interim periods as contained in the company's Quarterly Reports on Form 10-Q for the fiscal periods ended March 31, 2022 and 2023, June 30, 2022 and 2023, and September 30, 2022 (collectively, the "Interim Period Restatements" and, together with the 2022 Restatement, the "Restatement"); unaudited consolidated financial statements for the interim period ended September 30, 2023; and amended Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") as it relates to the year ended December 31, 2022. We did not file our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and we include the unaudited consolidated financial statements for that period in this Comprehensive Form 10-K. Our delay in the filing of our quarterly report on Form 10-Q for the period ended September 30, 2023, and our Annual Report for the year ended December 31, 2023, was primarily due to the time required to (a) complete the preparation of