Odyssey Marine Exploration Files 10-Q for Q2 2025
Ticker: OMEX · Form: 10-Q · Filed: Aug 19, 2025 · CIK: 798528
Sentiment: neutral
Topics: 10-Q, financials, exploration, securities
TL;DR
OMEX 10-Q filed for Q2 2025. Financials, stock, warrants, and litigation financing details updated.
AI Summary
Odyssey Marine Exploration Inc. filed its 10-Q for the period ending June 30, 2025. The company, headquartered in Tampa, FL, reported on its financial status and business operations. Key financial instruments and stock details were disclosed, including common stock and warrants. The filing also references litigation financing and promissory notes.
Why It Matters
This filing provides investors with an update on Odyssey Marine Exploration's financial health and operational activities for the second quarter of 2025, impacting investment decisions.
Risk Assessment
Risk Level: medium — The company's business involves exploration and potential litigation, which inherently carries higher risks than stable, established industries.
Key Numbers
- 20250630 — Period End Date (Latest reported financial period)
- 2024-12-31 — Previous Year End (For comparison with current period)
Key Players & Entities
- ODYSSEY MARINE EXPLORATION INC (company) — Filer
- TAMPA, FL (location) — Business Address
- 20250630 (date) — Period of Report
- 0000798528 (company) — Central Index Key
- omex:TwoThousandAndTwentyTwoWarrantsMember (financial_instrument) — Warrants
- omex:FourWorldCapitalManagementLlcMember (company) — Related Entity
- omex:LitigationFinancingMember (financial_instrument) — Financing Type
FAQ
What is the primary business of Odyssey Marine Exploration Inc.?
Odyssey Marine Exploration Inc. is primarily involved in water transportation and related exploration activities, as indicated by its SIC code [4400].
What is the filing date of this 10-Q report?
This 10-Q report was filed on August 19, 2025.
What specific financial instruments are mentioned in the filing?
The filing mentions 'omex:TwoThousandAndTwentyTwoWarrantsMember', 'us-gaap:CommonStockMember', and 'omex:PromissoryNoteMember'.
What is the company's state of incorporation?
Odyssey Marine Exploration Inc. is incorporated in Nevada (NV).
What type of financing is referenced in the filing?
The filing references 'omex:LitigationFinancingMember'.
Filing Stats: 4,265 words · 17 min read · ~14 pages · Grade level 15.7 · Accepted 2025-08-19 16:00:31
Key Financial Figures
- $0.0001 — ge on which registered Common Stock , $0.0001 par value OMEX Nasdaq Capital Marke
Filing Documents
- omex-20250630.htm (10-Q) — 2862KB
- omex-ex10_1.htm (EX-10.1) — 32KB
- omex-ex10_2.htm (EX-10.2) — 29KB
- omex-ex10_3.htm (EX-10.3) — 354KB
- omex-ex10_4.htm (EX-10.4) — 84KB
- omex-ex10_5.htm (EX-10.5) — 29KB
- omex-ex10_6.htm (EX-10.6) — 29KB
- omex-ex10_7.htm (EX-10.7) — 104KB
- omex-ex31_1.htm (EX-31.1) — 16KB
- omex-ex32_1.htm (EX-32.1) — 9KB
- img261880480_0.jpg (GRAPHIC) — 7KB
- 0000950170-25-110072.txt ( ) — 13450KB
- omex-20250630.xsd (EX-101.SCH) — 1592KB
- omex-20250630_htm.xml (XML) — 2737KB
Financial Statements (unaudited)
Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 4 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three and six months ended June 30, 2025 and 2024 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024 7 Notes to the Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 38 Part II: Other Information Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS ODYSSEY MARINE EXPLORATION, INC. AND SUBSIDIARIES COND ENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 (unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 3,551,429 $ 4,791,743 Accounts and other related party receivables 67,316 285,764 Other current assets 412,462 683,626 Total current assets 4,031,207 5,761,133 NON-CURRENT ASSETS Investment in unconsolidated entities 9,837,828 9,885,779 Option to purchase equity securities in related party 352,180 455,416 Bismarck exploration license 1,821,251 1,821,251 Property and equipment, net 495,303 534,016 Other non-current assets 34,295 34,295 Total non-current assets 12,540,857 12,730,757 Total assets $ 16,572,064 $ 18,491,890 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable $ 692,982 $ 748,403 Accrued expenses 9,471,587 8,634,576 Loans payable, current portion 20,801,906 13,084,379 Total current liabilities 30,966,475 22,467,358 Loans payable 3,871,986 9,851,151 Debt derivative liabilities 3,604,000 3,052,000 Warrant liabilities 8,573,315 4,798,759 Litigation financing 59,470,022 56,950,377 Deferred contract liability 352,180 455,416 Total liabilities 106,837,978 97,575,061 Commitments and contingencies (Note 9) STOCKHOLDERS' DEFICIT Preferred stock – $ 0.0001 par value; 24,984,166 shares authorized; none issued and outstanding — — Common stock – $ 0.0001 par value; 75,000,000 shares authorized; 32,484,832 and 28,825,333 issued and outstanding 3,249 2,883 Additional paid-in capital 240,235,734 264,191,579 Accumulated deficit ( 293,045,416 ) ( 280,439,023 ) Total stockholders' deficit before non-controlling interest ( 52,806,433 ) ( 16,244,561 ) Non-controlling interest ( 37,459,481 ) ( 62,838,610 ) Total stockholders' deficit ( 9