XML 17 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Operations - Unaudited - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUE        
Recovered cargo sales and other   $ 226,733 $ 4,667 $ 321,174
Exhibit   12,500   33,352
Expedition $ 1,217,318 204,310 1,795,128 204,310
Total revenue 1,217,318 443,543 1,799,795 558,836
OPERATING EXPENSES        
Cost of sales - recovered cargo and other   164,589   377,465
Marketing, general and administrative 1,937,523 3,354,227 4,317,839 6,370,213
Operations and research 1,293,803 2,889,590 3,493,794 6,251,056
Common stock issued for subsidiary stock option settlement       2,520,000
Total operating expenses 3,231,326 6,408,406 7,811,633 15,518,734
INCOME (LOSS) FROM OPERATIONS (2,014,008) (5,964,863) (6,011,838) (14,959,898)
OTHER INCOME (EXPENSE)        
Interest income   36   95
Interest expense (596,287) (1,019,443) (930,347) (1,681,725)
Change in derivative liabilities fair value 61,051 211,890 3,398,525 (251,013)
Other 9,652 7,494 391,630 (10,874)
Total other income (expense) (525,584) (800,023) 2,859,808 (1,943,517)
(LOSS) BEFORE INCOME TAXES (2,539,592) (6,764,886) (3,152,030) (16,903,415)
Income tax benefit (provision) 0 0 0 0
NET (LOSS) BEFORE NON-CONTROLLING INTEREST (2,539,592) (6,764,886) (3,152,030) (16,903,415)
Non-controlling interest 680,814 638,668 1,377,897 1,062,726
NET (LOSS) $ (1,858,778) $ (6,126,218) $ (1,774,133) $ (15,840,689)
NET (LOSS) PER SHARE        
Basic and diluted (See NOTE B) $ (0.25) $ (0.84) $ (0.24) $ (2.16)
Weighted average number of common shares outstanding        
Basic 7,544,345 7,469,455 7,542,728 7,340,272
Diluted 7,544,345 7,469,455 7,542,728 7,340,272