ODYSSEY MARINE EXPLORATION INC
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
OMEX$10.75-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023
COND ENSED CONSOLIDATED BALANCE SHEETS
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $2,859,267 | $4,021,720 |
| Accounts and other related party receivables | 84,123 | 110,320 |
| Other current assets | 278,736 | 743,439 |
| Total current assets | 3,222,126 | 4,875,479 |
| NON-CURRENT ASSETS | ||
| Investment in unconsolidated entities | 9,924,954 | 9,001,646 |
| Option to purchase equity securities in related party | 6,200,730 | 6,373,402 |
| Bismarck exploration license | 1,821,251 | 1,821,251 |
| Property and equipment, net | 554,872 | 524,656 |
| Right of use - operating leases | — | 121,568 |
| Other non-current assets | 34,295 | 34,295 |
| Total non-current assets | 18,536,102 | 17,876,818 |
| Total assets | $21,758,228 | $22,752,297 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $406,515 | $345,378 |
| Accrued expenses | 9,605,818 | 8,493,358 |
| Operating lease liability, current portion | — | 129,140 |
| Forward contract liability | 1,446,796 | 1,446,796 |
| Put option liability | 108,437 | 5,637,162 |
| Loans payable, current portion | 19,383,847 | 15,413,894 |
| Total current liabilities | 30,951,413 | 31,465,728 |
| LONG-TERM LIABILITIES | ||
| Loans payable | 3,793,728 | 7,903,074 |
| Warrant liabilities | 4,411,645 | 15,792,385 |
| Litigation financing and other | 58,816,331 | 52,817,938 |
| Deferred contract liability | 507,034 | 679,706 |
| Total long-term liabilities | 67,528,738 | 77,193,103 |
| Total liabilities | 98,480,151 | 108,658,831 |
| Commitments and contingencies (Note 8) | ||
| STOCKHOLDERS’ DEFICIT | ||
| Preferred stock – $0.0001 par value; 24,984,166 shares authorized; none outstanding | — | — |
| Common stock – $0.0001 par value; 75,000,000 shares authorized; 20,863,100 and 20,420,896 issued and outstanding | 2,086 | 2,042 |
| Additional paid-in capital | 259,373,077 | 263,616,186 |
| Accumulated deficit | (275,437,800) | (296,096,957) |
| Total stockholders’ deficit before non-controlling interest | (16,062,637) | (32,478,729) |
| Non-controlling interest | (60,659,286) | (53,427,805) |
| Total stockholders’ deficit | (76,721,923) | (85,906,534) |
| Total liabilities and stockholders’ deficit | $21,758,228 | $22,752,297 |
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