XML 95 R79.htm IDEA: XBRL DOCUMENT v3.7.0.1
Loans Payable - Note 4 - Epsilon - Additional Information (Detail) - USD ($)
 1 Months Ended 12 Months Ended
Dec. 15, 2016
Nov. 15, 2016
Oct. 16, 2016
Oct. 01, 2016
Mar. 18, 2016
Aug. 31, 2016
Dec. 31, 2016
Jan. 25, 2017
Mar. 31, 2016
May 10, 2012
Debt Instrument [Line Items]                    
Aggregate amount issuable                   $ 8,000,000
Debt instrument maturity date           Aug. 31, 2018        
Principal balance of debt             $ 4,335,501      
Warrant right exercise price                 $ 1.00  
Aggregate fair value of warrants             303,712      
Epsilon Acquisitions, LLC [Member]                    
Debt Instrument [Line Items]                    
Inducement expense             $ 303,712      
Notes Payable, Other Payables [Member] | Third Tranche [Member]                    
Debt Instrument [Line Items]                    
Conversion price of Notes     $ 3.52              
Conversion of stock, shares Issued     1,000,000              
Notes Payable, Other Payables [Member] | Fourth Tranche [Member]                    
Debt Instrument [Line Items]                    
Conversion price of Notes   $ 4.19                
Conversion of stock, shares Issued   1,000,000                
Notes Payable, Other Payables [Member] | Fifth Tranche [Member]                    
Debt Instrument [Line Items]                    
Conversion price of Notes $ 4.13                  
Conversion of stock, shares Issued 1,000,000                  
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member]                    
Debt Instrument [Line Items]                    
Aggregate amount issuable       $ 3,000,000 $ 3,000,000          
Installment amount of Notes         $ 1,500,000          
Interest rate, stated percentage       10.00% 10.00%          
Notes security description             We granted security interests to Epsilon in (a) the 54 million cuotas (a unit of ownership under Panamanian law) of Oceanica Resources S. de R.L. ("Oceanica") held by our wholly owned subsidiary, Odyssey Marine Enterprises, Ltd. ("OME"), (b) all notes and other receivables from Oceanica and its subsidiary owed to the Odyssey Pledgors, and (c) all of the outstanding equity in OME.      
Conversion price of Notes       $ 5.00 $ 5.00          
Conversion price of Notes upon default         $ 2.50          
Debt instrument maturity date       Mar. 18, 2017 Mar. 18, 2017          
Security deposit liability         $ 54,000,000          
Number of trading days       75 days 75 days          
Lender's out of pocket costs             $ 50,000      
Beneficial conversion feature recorded             96,000      
Interest expenses related to debt discount recorded             73,433      
Principal balance of debt             6,050,000      
Debt conversion amount             $ 2,000,000      
Common stock purchase warrant       120,000            
Warrant right exercise price       $ 3.52            
Warrant Expiration Date             Oct. 01, 2021      
Warrant right exercise price description             Warrant shall be the number determined by multiplying 120,000 by a fraction, (a) the numerator of which is the aggregate principal amount of advances that have been extended to the OME by Epsilon pursuant to the Restated Note Purchase Agreement on or after the date of the Warrant and prior to the date of such failure and (b) the denominator of which is $3.0 million.      
Accrued interest             $ 259,372      
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member] | Subsequent Event [Member]                    
Debt Instrument [Line Items]                    
Aggregate amount issuable               $ 3,000,000    
Conversion price of Notes               $ 5.00    
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member] | Maximum [Member] | Tranche [Member]                    
Debt Instrument [Line Items]                    
Conversion of stock, shares Issued       1,388,769            
Notes Payable, Other Payables [Member] | MINOSA [Member]                    
Debt Instrument [Line Items]                    
Aggregate amount issuable         $ 14,750,000          
Debt Instrument, acceleration clause description             The indebtedness may be accelerated upon the occurrence of specified events of default including (a) OME’s failure to pay any amount payable on the date due and payable; (b) OME or we fail to perform or observe any term, covenant, or agreement in the Purchase Agreement or the related documents, subject to a five-day cure period; (c) an event of default or material breach by OME, us or any of our affiliates under any of the other loan documents shall have occurred and all grace periods, if any, applicable thereto shall have expired; (d) the Stock Purchase Agreement shall have been terminated; (e) specified dissolution, liquidation, insolvency, bankruptcy, reorganization, or similar cases or actions are commenced by or against OME or any of its subsidiaries, in specified circumstances unless dismissed or stayed within 60 days; (f) the entry of judgment or award against OME or any of its subsidiaries in excess or $100,000; and (g) a change in control (as defined in the Purchase Agreement) occurs.      
Debt instrument, number of shares         100,000