Schedule II - Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2011

SCHEDULE II – VALUATION and QUALIFYING ACCOUNTS

For the Fiscal Years of 2009, 2010 and 2011

ODYSSEY MARINE EXPLORATION, INC. AND SUBSIDIARIES


	Balance at Beginning of Year		Charged (Credited) to Expenses		Charged (Credited) to Other Accounts		Deductions		Balance at End of Year
Deferred recovery cost reserve
2009		2,358,063		170,217		—		—		2,528,280
2010		2,528,280		28,869		—		—		2,557,149
2011		2,557,149		—		—		—		2,557,149

Inventory reserve
2009		598,273		—		—		114,566		483,707
2010		483,707		—		—		4,248		479,459
2011		479,459		—		—		87,256		392,203

Accounts receivable reserve
2009		—		—		—		—		—
2010		—		8,494,672		—		—		8,494,672
2011		8,494,672		—		—		2,104,079		6,390,593