NOTE I – OTHER LONG-TERM ASSETS

Other long-term assets consist of the following:


	2013		2012
Artifacts	$	1,191,952	$	557,494
Deposits		1,673,709		541,590
Image use rights, net		280		3,646

Total other long-term assets	$	2,865,941	$	1,102,730

The artifact balances for both years consist of artifacts conserved specifically for the Company and are intended to be held long term by us. The 2013 artifacts balance consists primarily of SS Republic coins and silver bullion bars from the SS Gairsoppa silver recovery and other artifacts. The 2012 amount consists mainly of SS Republic coins and other artifacts. Deposits include $432,500 on account with the United Kingdom’s Ministry of Defense relating to the expense deposits for HMS Sussex, $100,000 deposit to fund conservation and documentation of any artifacts recovered and $1,187,400 of marine equipment deposits on items that will be fixed assets when received. The HMS Sussex deposits are refundable from proceeds the United Kingdom would receive if HMS Sussex is discovered and its artifacts monetized. If HMS Sussex is not discovered, the Company is at risk for the expense deposit portion. Other deposits are held by various vendors for equipment, services, and in accordance with agreements in the normal course of business. Image use rights are amounts paid to utilize, for a period up to five years, copyrighted images in our themed attractions.