奥德赛海洋勘探 2025年季度报告

FORM10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period endedMarch 31,2025 Commission File Number001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Nevada(State or other jurisdiction ofincorporation or organization) 84-1018684(I.R.S. EmployerIdentification No.) (813)876-1776(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Common Stock, $0.0001 par valueOMEX Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large accelerated filer:☐ Non-accelerated filer:☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the exchange act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes☐No☒ The number of outstanding shares of the registrant’s Common Stock, $0.0001 par value, as of May 7, 2025was31,335,539. Part I:Financial Information Item 1.Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024Condensed Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024 Condensed Consolidated Statements of Changes in Stockholders’ Deficit for the three months endedMarch 31, 2025 and 20245 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 20246Notes to the Condensed Consolidated Financial Statements8 ODYSSEY MARINE EXPLORATION, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS ODYSSEY MARINE EXPLORATION, INC. AND SUBSIDIARIESNOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1– BUSINESS AND BASIS OF PRESENTATION Theaccompanying unaudited condensed consolidated financial statements of Odyssey Marine Exploration,Inc.andsubsidiaries (the “Company,” “Odyssey,” “us,” “we” or “our”) have been prepared in accordance with the rules and regulations ofthe Securities and Exchange Commission (“SEC”) and the instructions to Form 10-Q and, therefore, do not include all information In the opinion of management, these financial statements reflect all adjustments, including normal recurring adjustments,necessary for a fair presentation of these interim condensed consolidated financial statements. Operating results for the three Going Concern Consideration We have experienced several years of net losses and may continue to do so. Our ability to generate net income or positivecash flows for the next twelve months is dependent upon financings, our success in developing and monetizing our interests in Our 2025 business plan requires us to generate new cash inflows to effectively allow us to perform our planned projects. Wecontinually plan to generate new cash inflows through the monetization of our equity stakes in seabed mineral companies,financings, syndications or other partnership opportunities. If cash inflow ever becomes insufficient to meet our projected business Our consolidated non-restricted cash balance at March 31, 2025 was$2.5million. We have a working capital deficit at March31, 2025 of$20.0million. The total consolidated book value of our assets was approximately$15.8millionat March 31, 2025, The factors noted above raise doubt about our ability to continue as a going concern. These condensed consolidated financialstatements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should NOTE 2– SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies of the Company is presented to assist in understanding our condensedconsolidated financial statements. The financial statements and notes are representations of the Company’s management, who are Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its direct and indirect whollyowned subsidiaries, both domestic and international. Equity investments in which we exercise significant influe