Meson is strange dude . . . why would he gamble on OMEX not getting huge recovery form wreck . . . he says his researchers have studied the facts . . . and nothing left down their worth the OMEX effort (basically).
Now USA IRS, says they will tax OMEX reoovery at standard tax rate for recovered lost and re found (and reclaimed) as if personal possessions? I am not tax expert nor accountant . . . but looking like anyone trying to reclaim original coinage as current relative of deceased, will have to prove original price of found coinage, etc. And, how could (would) they the modern heirs be able to provide proof which coin, etc. is from whom (and the amount they had taken aboard the 1857 ship in personal luggage . . . now rotted away)? This is all nuts to me.
OMEX will (at minimum) get its equipment use paid for . . . and wages of its crew, etc. paid and its suppliers. This will enable it to be able to go on to other wrecks and projects + the filming rights. Tax laws are making it really stupid to have your business (doing work outside USA territorial waters) registered as USA corporation location. USA government just comes down hard on you.
Perhaps OMEX will relist itself in some small country internationally, as its place of business HQs?
OMEX is trying to do honest work in its recovery from international waters . . . and everyone is pilling on its working back, as I presently see it. Why bring back recovery finds to USA soil . . . just sell on international market to collectors, etc.?
Rich buyers of recovery stuff have their own means of protecting their buys and profits?
USA government helps its 'ally' Spain to the previous benefits of a OMEX recovery effort (that Spain could not do by itself and initially 'lifted' from south america). Spain basically got the wreck recovery for free.
Makes one start to wonder how exactly we retail investors can come ahead on this. I guess we will watch and learn?
Big problem for us retail investors (apparently so far) is no one is jumping in on 'gold fever' scenario uptick.
Agreed with what you have posted.
Slow climb and we just sit back and wait for a potential short sneeze. Couple of more PR 'finds' of significantly more recovery stuff and we go up . . . just thought OMEX should be expanding its PR game net, to those who can't or won't have a stock account. The more folks involved in revenue streams to OMEX earnings frys more shorts . . . fish and chips!
