Financial Performance - Total revenues for Q3 2022 increased by 82% to $358,000 compared to $197,000 in Q3 2021[109] - Total revenues for the nine months ended September 30, 2022 increased by $377 million, or 56%, to $1,048 million compared to $671 million for the same period in 2021[118] - Net loss for Q3 2022 was $5,455,000, a 33.5% increase from the net loss of $4,085,000 in Q3 2021[109] - The company recorded a net loss of $18.4 million for the nine months ended September 30, 2022, an increase in loss of $8.3 million, or 83.1%, compared to a net loss of $10.0 million for the same period in 2021[118] Operating Expenses - Total operating expenses rose by 21.1% to $4,078,000 in Q3 2022 from $3,368,000 in Q3 2021[109] - Marketing, general and administrative expenses rose by $1.7 million, or 35.9%, to $6.4 million for the nine months ended September 30, 2022, compared to $4.7 million for the same period in 2021[120] - Operations and research expenses increased by $1.3 million, or 18.8%, to $8.2 million for the nine months ended September 30, 2022, compared to $6.9 million for the same period in 2021[121] - Total other income and expense resulted in a net expense of $10.5 million for the nine months ended September 30, 2022, an increase of $6.8 million, or 187.6%, compared to $3.6 million for the same period in 2021[122] Cash Flow and Debt - Net cash used in operating activities for the nine months ended September 30, 2022 was $6.0 million, an increase of approximately $1.9 million compared to $4.1 million for the same period in 2021[125] - Cash and cash equivalents at September 30, 2022 were $6.8 million, an increase of $4.5 million from $2.3 million at December 31, 2021[128] - Financial debt increased to $44.6 million at September 30, 2022, compared to $41.3 million at December 31, 2021[130] - The carrying value of the debt as of September 30, 2022, was $24,204,704, compared to $18,323,097 on December 31, 2021, representing an increase of approximately 32.3%[133] - The total face value of the debt obligation at September 30, 2022, was $24,821,967, compared to $19,266,818 at the end of 2021, showing an increase of about 29.5%[133] - The consolidated non-restricted cash balance at September 30, 2022, was $6.8 million, with a working capital deficit of $53.1 million[144] Legal and Regulatory Matters - Odyssey is seeking over $2 billion in compensation from Mexico due to repeated unlawful denials of environmental permits for the ExO project[91] - The company has secured funding of up to $10 million for litigation costs related to the NAFTA case[94] Project Developments - The ExO Phosphate Project is expected to provide significant benefits to Mexico's agricultural development and is located within a 50-year mining concession[86][87] - The Lihir Gold Project has an 85.6% interest in Bismarck Mining Corporation, which holds the exploration license for gold targets in Papua New Guinea[95] - The South American Phosphate Project will be a joint venture where Odyssey holds a 75% interest, covering 366 square kilometers of seabed[104][106] - The CIC Consortium, which includes Odyssey, received a five-year exploration license from the Cook Islands, with operations commencing in 2022[102][103] - The exploration program for the Lihir Gold Project aims to validate and quantify precious and base metal content, with offshore surveys completed in early 2022[98][99] Financing Activities - The company raised $10.9 million from financing activities during the nine months ended September 30, 2022, compared to $1.5 million for the same period in 2021[127] - The company generated net proceeds of $14.7 million from the sale of 4,939,515 shares of common stock and warrants, after offering expenses of $1.8 million[141] Interest Expense - For the three months ended September 30, 2022, interest expense from debt discount amortization was $76,133, compared to $63,689 for the same period in 2021, reflecting a year-over-year increase of approximately 19.3%[133] - For the nine months ended September 30, 2022, interest expense from debt discount amortization totaled $216,286, up from $174,420 in 2021, indicating a growth of about 24%[133] - The company recognized $300,000 of interest expense for the nine months ended September 30, 2022, related to the Note Agreement with 37North[138] Concerns and Risks - The company has experienced several years of net losses and may continue to do so, raising concerns about its ability to continue as a going concern[140] - The company does not engage in off-balance sheet financing arrangements and has no interest in limited purpose entities[149]

Financial Performance - Total revenues increased to $390,000 in Q2 2022 from $182,000 in Q2 2021, representing a growth of 214.3%[113] - Total revenue for the three months ended June 30, 2022 was $0.4 million, consistent with the same period a year ago[114] - Total revenues for the six months ended June 30, 2022 were $690 million, an increase of $216 million or 45.5% compared to $474 million for the same period in 2021[120] Expenses - Marketing, general and administrative expenses rose by 48.5% to $2,292,000 in Q2 2022 compared to $1,700,000 in Q2 2021[113] - Operating expenses increased by $0.6 million to $2.3 million for the three months ended June 30, 2022, compared to $1.7 million for the same period in 2021, driven by increases in employee benefits and legal fees[115] - Marketing, general and administrative expenses increased by $1.2 million to $4.2 million for the six months ended June 30, 2022, representing a 40.7% increase from $3.0 million in 2021[122] - Total operating expenses decreased by 125.8% to $3,522,000 in Q2 2022 from $5,129,000 in Q2 2021[113] - Operations and research expenses decreased significantly by 181.3% to $1,230,000 in Q2 2022 from $3,429,000 in Q2 2021[113] - Operations and research expenses decreased by $2.2 million to $3.0 million for the three months ended June 30, 2022, primarily due to a $2.6 million decrease in litigation financed costs[116] - Total other income and expense resulted in a net expense of $3.4 million for the three months ended June 30, 2022, an increase of $4.6 million compared to a net income of $1.2 million in the same period in 2021[117] - Total other income and expense for the six months ended June 30, 2022 was a net expense of $6.8 million, an increase of $5.7 million from a net expense of $1.1 million in 2021[125] Net Loss and Financial Position - Net loss increased to $4,683,000 in Q2 2022 from a loss of $2,227,000 in Q2 2021, reflecting a deterioration of 121.2%[113] - The company has experienced several years of net losses and may continue to do so, raising doubt about its ability to continue as a going concern[146] - As of June 30, 2022, the company had a consolidated non-restricted cash balance of $10.5 million and a working capital deficit of $45.9 million[146] - The total consolidated book value of the company's assets was approximately $17.8 million as of June 30, 2022[146] Non-controlling Interest - Non-controlling interest increased by 32.6% to $1,858,000 in Q2 2022 from $1,528,000 in Q2 2021[113] - Non-controlling interest adjustment for the six months ended June 30, 2022 was $3.7 million, up from $2.9 million in the same period in 2021, reflecting a 27.6% increase[126] Cash Flow and Financing - Cash and cash equivalents increased to $10.5 million as of June 30, 2022, up from $2.3 million at December 31, 2021, representing an increase of $8.3 million[132] - Financial debt of the company was $44.6 million at June 30, 2022, an increase from $41.3 million at December 31, 2021[133] - The company entered into a Note Purchase Agreement with 37North SPV 11, LLC for a loan of up to $2,000,000, which was fully received on March 25, 2022[137] - The company prepaid $2,200,000 of the outstanding amounts under the Note Agreement on June 29, 2022, and the remaining $100,000 on July 6, 2022[139] - The company generated net proceeds of $14.7 million from the sale of 4,939,515 shares of common stock and warrants on June 10, 2022, after offering expenses of $1.8 million[144] Project Developments - The ExO Phosphate Project is expected to provide significant benefits to Mexico's agricultural development due to its high-grade phosphate rock[88] - Odyssey is pursuing a NAFTA claim against Mexico seeking over $2 billion in compensation for the repeated denial of environmental permits for the ExO project[94] - The South American Phosphate Project will cover 366 square kilometers of seabed and is anticipated to be developed using environmentally responsible methods[110] - Odyssey holds an 85.6% interest in Bismarck Mining Corporation, which is exploring the Lihir Gold Project in Papua New Guinea[98] Accounting and Risk Management - The company adopted ASC 2020-06, which affects the accounting for convertible instruments and requires the entire expected repayment amount of $2.2 million to be recorded upon issuance of the Note Agreement[140] - The company does not engage in off-balance sheet financing arrangements and has no interest in limited purpose entities[151] - The company does not believe it has material market risk exposure and has not entered into any market risk sensitive instruments[153]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022. or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Nevada 84-1018684 (State o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Nevada 84-1018684 (State or other jurisdiction of incorporation ...

Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021. or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Neva ...

Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021. or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Nevada 84 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Washington, D.C. 20549 For the quarterly period ended March 31, 2021. FORM 10-Q or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Nevada 84-1018684 (State or other jurisdicti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-31895 ODYSSEY MARINE EXPLORATION, INC. (Exact name of registrant as specified in its charter) Nevada 84-1018684 (State or other jurisdiction of incorporation ...