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.39 bump and 53K. Maybe approval leaking ????
"Odyssey's marine operations team successfully completed the first phase of a major shipwreck project that included the search and inspection of multiple valuable targets and the recovery of samples of valuable cargo. These activities were undertaken under contract with another party."
This news was music to my ears!
August 9, 2017
Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a pioneer in the field of deep-ocean exploration, reported results for the second quarter ended June 30, 2017, and provided an update on operations and plans for 2017.
In the second quarter, Odyssey's marine operations team successfully completed the first phase of a major shipwreck project that included the search and inspection of multiple valuable targets and the recovery of samples of valuable cargo. These activities were undertaken under contract with another party.
Planning is currently underway for the recovery phase of this project. Procurement of specialized equipment for the recovery project has been initiated, and operations will commence upon delivery and the completion of testing of the new equipment.
Planning also continues for recovery of phosphate sands from the "Don Diego" project so that preliminary operations can commence soon after environmental approval is received. Odyssey has already been contracted to provide a variety of services related to this the project once approvals are in place. This contract has the potential to produce several million dollars in positive cashflows and enhance the value of Odyssey's investment in this project. Although there can be no assurance of a favorable outcome, the judicial decision on the environmental approval is expected to be made within the next 90 days.
Odyssey also continues to develop and partner with other groups on new subsea mineral projects that will require offshore exploration work and resource evaluation by the Odyssey marine operations team.
The currently planned shipwreck and mineral projects are being conducted under a leveraged contracting model where Odyssey is paid to perform offshore services while retaining a significant back-end of the future net proceeds from the projects. The combined potential cash flows generated from these projects are expected to fund operations for multiple years and increase the value of projects controlled by Odyssey or in which Odyssey has an equity ownership position.
Odyssey's interests remain aligned with those of MINOSA del Norte S.A. de C.V. (MINOSA), with whom we have an investment agreement for the purchase of new equity securities that, when issued, would represent a majority of the equity in Odyssey. Epsilon Acquisitions LLC, an affiliate of MINOSA, is already one of Odyssey's largest shareholders after converting $3 million in debt to equity in the second quarter of 2017.
In addition, Odyssey was notified by NASDAQ on August 4, 2017, that the Company is in compliance with all NASDAQ requirements for listing.
Management Commentary
"As we transform Odyssey, we've been working to be more efficient and focused while driving cash flows to fund operations. Those efforts are continuing to pay off with a 25% reduction in general and administrative expenses and a 20% reduction in operational expenses comparing the two 12-month periods ended June 30, 2017 and June 30, 2016. That's on top of the 36% reduction in those expenses from the prior 12-month period ended June 30, 2015," said Mark Gordon, Odyssey Chief Executive Officer and President. "We also now have the largest pipeline of cash generating projects than at any other time in our history."
"These efforts have also positioned Odyssey to quickly commence operations on the 'Don Diego' project once approvals are received and have allowed Odyssey to continue developing new mineral projects around the world.
"The 'Don Diego' environmental approval process and closing of the Stock Purchase Agreement has taken longer than originally contemplated; however, the assistance MINOSA has provided us through this process and their recent agreement to provide additional capital reinforces our belief that MINOSA is the right investor for Odyssey's offshore mineral exploration business," continued Mark Gordon.
Q2 2017 Financial Summary
The net loss in the second quarter of 2017 was $1.9 million or $(0.23) per share as compared to net loss in the first quarter of 2017 of $2.2 million or $(0.28) per share and a net loss or $1.9 million or $(0.25) per share in the second quarter of 2016.
Total revenue in the current quarter was $0.6 million, a $0.6 million decrease from the revenue in the same period a year ago and was derived from the performance of expedition marine survey and recovery services for Magellan, whom we consider a related party. The $1.2 million revenue in the same quarter last year was generated from providing equipment and personnel to an offshore operator under a survey expedition services agreement.
Marketing, general and administrative expenses decreased by $0.2 million from $1.9 million in 2016 to $1.7 million in 2017 primarily as a result of (i) a reduction of $0.4 million of personnel compensation and related expenses including share-based compensation of $0.2 million and (ii) $0.1 million decrease in corporate supportive overhead. This decrease was partially offset by (i) a $0.2 million increase in legal fees related to marine cargo securitization and (ii) a $0.1 million increase in financing fees.
Operations and research expenses primarily include all costs within Archaeology, Conservation, Exhibits, Research, and Marine operations, which include all vessel and charter operations. Operations and research expenses decreased by $0.4 million from 2016 to 2017 as a result of a $0.1 million reduction of marine services costs which include technical crew costs as well as other marine operational costs such as fuel, port fees and consumables, an increase in the gain of sale of marine equipment of $0.2 million and a reduction of $0.1 million of fixed asset costs related to depreciation and insurance. 2016 included the full-time operations of our former vessel, the Odyssey Explorer, which was sold in mid-2016.
Interesting, It's been really low volume for some time now.
MM's had the ASK / BID gaped out .15 cents today before the run up
Yep! Doesn't take much to move it.
If the approval goes thru, this will gap up nicely and with volume.
Wow! Nice day in OMEX land.
I don't see a selloff, unless of course DD is denied.
Volume way too small.
Broke support this morning. OMEX needs to close stronger today to avoid a real selloff. IMO
Thanks! Going to be an interesting few weeks ahead.
Imo u r spot on.
With that spa @ $12.00 I would say, they approved or will approve DD.
MM's usually set the ASK higher after hours and on OMEX they usually set it higher at between $6 to $9. Today they first set it at $12 it's now at $11.50 . Although, it was the sudden volume and price spike right at the end of the day that caught my eye and wondered if someone might possibly know that news of some kind is coming.
The only thing I can think of is the SPA which is set at $12.00.
What happened at the end of the day with the volume and price spike in the last minutes of trading? Then they moved the ASK to $12. They usually move it to around $8 or $9 after hours.
Don't be shy..
Would be an SEC nightmare
Tell the truth regardless
Know what is right
Don't acquiesce
Correct it
Although difficult
When past government is complicit
Right the wrong..
"next time, DON'T TELL!"
Due to past circumstances I may agree.
Either way, it can be said
Bring back the rule of law
As it has been
And should always be
Without exception..
Blue Water Ventures International Enters Into an Exclusive Contractual Agreement With Bradford James Partners
JACKSONVILLE, FL - (NewMediaWire) - August 1, 2017 - Blue Water Ventures International, Inc. (the "Company") (OTC PINK: BWVI) announced today that it has entered into an exclusive contractual agreement with Bradford James to design and market a unique line of jewelry designed around the Margarita Pearl Collection and other treasures recovered by BWVI.
Statement from Bradford James
We are extremely pleased to enter into this exclusive contractual agreement with Blue Water Ventures International. We have known about BWVI's Santa Margarita Pearl collection as well as their other artifacts for some time and had early success in the design, manufacturing and placement of several highly lucrative ensembles. With the contractual agreement in place, we can now move forward on our design, marketing and infrastructure efforts to further monetize BWVI's discoveries. Discussions are underway with several high-end retail jewelry stores that will be showcasing and selling the creations.
About the Margarita Pearl Collection:
In June of 2007 a lead lined box containing thousands of natural pearls was found on the wreck site of the Santa Margarita (a Spanish galleon that sank in 1622). Following the discovery, the collection was analyzed by GIA (Gemological Institute of America) at their laboratory in New York. Their report is available at http://www.bwvint.com/documents/pearls/giapearlreport.html#p=1
About Blue Water Ventures International, Inc.:
The Company is engaged in the business of conducting archaeologically-sensitive recoveries of cargo and artifacts from shipwrecks. Its operations to date have focused on shallow water search and recovery projects in less than 150 feet of water. The Company is now expanding its focus to include deep-water salvage of historic and modern-day shipwrecks. For more information go to http://www.bwvint.com
About Bradford James:
Bradford James Partners specializes in one of a kind jewelry pieces. James Shrader is a Florida based jewelry designer and facilitated the first pearl ensemble designed and created from the Santa Margarita Pearl Collection. Bradley Stewart is an Ohio based jewelry designer and manufacturer with an emphasis on preserving the art of fine jewelry design.
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to certain risks and uncertainties including, but not limited to: ability to further strengthen our balance sheet, ability to raise funding for continued operations, ability to successfully and profitably locate additional wrecks and cargo, ability to establish ownership, and other factors. Therefore, actual results may differ materially from those indicated or implied by such forward-looking statements. Except as required by law, the Company disclaims any obligation to publicly update such statements.
That is true, or next time, DON'T TELL! lol
Now OMEX just needs to discover treasure in the waters of a country that will share the wealth.
Have thought about this from the beginning
Any thoughts as to why we are
Where we are?
AS it pertains to law..
Law has its own definition
Depending on which jurisdiction is used
Trying to scalp the confusion
And start a dialog, is all
It is what it is
Nothing more
Nothing less..
What is nice about a recovery
That no one knows if they can have?
What is it that you don't get?
Interesting to the recovery world
When the laws
Are as arbitrary
As the adrenaline that feeds it..
$130 million of Nazi gold may be in a sunken cargo ship
By Chris Perez
July 27, 2017 | 10:18pm | Updated
Paging Nic Cage!
A sunken German cargo ship — located in the waters near Iceland — could hold up to $130 million worth of Nazi gold, according to reports.
The treasure trove is believed to be hidden in a chest inside the merchant vessel, known as the SS Minden.
A British salvage company discovered the ship scuttled about 120 nautical miles south of Iceland, The Sun reported.
Crew members were said to have found the chest in the boat’s post room. It is believed to contain four tons of gold, all of which came from South American banks.
The loot was being shipped to Germany by the Nazis in the attempt to get it back before the start of World War II.
The SS Minden reportedly set sail from Brazil on September 6, 1939 just days after the war began.
Under orders from Adolf Hitler, the crew was said to have scuttled the ship in a bid to protect its valuable cargo from falling into the hands of the Royal Navy.
It remained hidden in the waters off Iceland for years — along with its suspected treasure chest — until the UK-based Advanced Marine Services company stumbled upon it during a salvage operation earlier this year.
The firm has reportedly requested permission from Icelandic authorities to enter the SS Minden and retrieve the gold — much like how Nicolas Cage’s character, Ben Gates, did in the 2004 movie, “National Treasure,” when he found the first clue in his hunt for the Founding Fathers’ hidden booty.
A spokesman for the Icelandic Environmental Agency told Fox News on Thursday that an application had been received, though it could take weeks before a decision is made.
The AMS team wants to ultimately take the chest back to Britain, under the claim that its contents belong to the people who found it.
While the Minden is not technically in Iceland’s territorial waters, it does sit in the country’s exclusive economic zone — meaning authorities can enforce pollution controls and environmental impact measures so no one interferes with the wreck.
They can’t, however, make claim to any salvage.
Icelandic officials are expected to make a decision about the chest’s ownership by no later than next month.
Interesting to some
Entertainment purposes only
For others
In the general sense
Of course..
Yep, the only guidance provided was July-Sept. Nothing more specific.
The approval process is near
I would guess?
What is soon?
Just the facts..
I would guess that the approval process is near, but strictly a guess. They did indicate between July and Sept.
Something is going on?
Wonder what that could be...
Nice upward action on the stock.
Been looking strong as of late.
A lot of upward pressure on the stock price these days.
Latest time frame for a decision is July-Sept.
Something is going on.
Re read the question, its an on topic direct response, not an abstract nonsense posted here over and OVER!
Wonder what is up with OMEX this morning?
To the Morning
Not a whole lot. We're still in the hurry up and wait mode.
Looks like the politics in Mexico moves way slower than the US, believe it or not.
Wonder what is up with OMEX this morning?
What are your thoughts ap17?
Noticed you've been around since 7pm
Interesting..
nice find! wow
Yes, seems like the routine here, up, down, up, etc...
I would not be surprised to see OMEX hover between 3.60-3.80 for the next few weeks. Tons of time for short sellers to cover, but only until the company finds a sustainable market for exploration. One forward looking news story could push the PPS to 5 or 6. Good luck!
Hopefully
This is not, in context, an indication of one's age
But a realization of where we have been
And where we are going from this point
Like a water slide with all the invigorating features
Without the baggage..
Nice to hear from you
My friend..
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Odyssey Videos
http://www.youtube.com/user/ShipwreckOmex
Jolly Mon Sing
http://www.youtube.com/watch?v=4_kLnjiIHgg
Nautical Wheelers
http://www.youtube.com/watch?v=kCQ_OZRJyXU
On the Far Side of the World
http://www.youtube.com/watch?v=6QChQYpDJzs&mode=related&search=
One Particular Harbour
http://www.youtube.com/watch?v=q5qI9lHO8Zs&playnext=1&list=PL84E3004F7DDA3969
A Pirate Looks at Forty
http://www.youtube.com/watch?v=O0W7gXEEbqo&list=AL94UKMTqg-9AZ56u9b8waCISjmUICeSBp
Take Another Road
http://www.youtube.com/watch?v=avk7j3RTiaA
Here We Are
http://www.youtube.com/watch?v=jjRklVfny2A
on the Republic shipwreck and an updated photo gallery!
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Dono_doya IBOX additions
The Cutting-Edge of Deep-Ocean Mineral Exploration
EXPLORE THE VIRTUAL DIVE TRAIL (click photo)
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THE BLACK SWAN CASE STUDY BY THE UNIVERSITY OF MIAMI SCHOOL OF LAW REVIEW
Piracy in the Courtroom: How to Salvage $500
Million in Sunken Treasure Without
Making a Cent
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