XML 62 R50.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans Payable - Note 4 - Epsilon - Additional Information (Detail)
 3 Months Ended 9 Months Ended
Apr. 10, 2017
USD ($)
shares
Mar. 21, 2017
USD ($)
shares
Dec. 15, 2016
$ / shares
shares
Nov. 15, 2016
$ / shares
shares
Oct. 16, 2016
$ / shares
shares
Oct. 01, 2016
USD ($)
Days
$ / shares
shares
Mar. 18, 2016
USD ($)
Days
$ / shares
shares
Sep. 30, 2017
USD ($)
$ / shares
Jun. 30, 2017
USD ($)
shares
Sep. 30, 2016
USD ($)
Sep. 30, 2017
USD ($)
$ / shares
Sep. 30, 2016
USD ($)
Mar. 31, 2016
$ / shares
May 10, 2012
USD ($)
Debt Instrument [Line Items]                            
Aggregate amount issuable                           $ 8,000,000
Warrant right exercise price | $ / shares               $ 3.52     $ 3.52   $ 1.00  
Aggregate fair value of warrants               $ 303,712     $ 303,712      
Interest expenses               638,940   $ 598,931 2,018,570 $ 1,529,278    
Amount of loan outstanding               0     0      
Epsilon Acquisitions, LLC [Member]                            
Debt Instrument [Line Items]                            
Aggregate amount issuable             $ 6,000,000              
Accrued interest               47,123   95,587        
Inducement expense               303,712     $ 303,712      
Interest expenses               0   $ 23,864        
Notes Payable, Other Payables [Member] | Third Tranche [Member]                            
Debt Instrument [Line Items]                            
Conversion price of Notes | $ / shares         $ 3.52                  
Conversion of stock, shares Issued | shares         1,000,000                  
Notes Payable, Other Payables [Member] | Fourth Tranche [Member]                            
Debt Instrument [Line Items]                            
Conversion price of Notes | $ / shares       $ 4.19                    
Conversion of stock, shares Issued | shares       1,000,000                    
Notes Payable, Other Payables [Member] | Fifth Tranche [Member]                            
Debt Instrument [Line Items]                            
Conversion price of Notes | $ / shares     $ 4.13                      
Conversion of stock, shares Issued | shares     1,000,000                      
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member]                            
Debt Instrument [Line Items]                            
Aggregate amount issuable   $ 6,000,000       $ 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 | $ / shares           $ 5.00 $ 5.00              
Conversion price of Notes upon default | $ / shares             $ 2.50              
Debt instrument maturity date           Mar. 18, 2017 Mar. 18, 2017              
Security deposit liability             $ 54,000,000 54,000,000     $ 54,000,000      
Number of trading days | Days           75 75              
Lender's out of pocket costs               50,000     50,000      
Accrued interest                 $ 302,274          
Conversion of stock, shares Issued | shares 670,455 670,455             670,455          
Beneficial conversion feature recorded                     96,000      
Debt conversion amount                     $ 2,000,000      
Common stock purchase warrant | shares           120,000                
Warrant right exercise price | $ / shares           $ 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.      
Principal balance of debt   $ 6,050,000                        
Equity component in loans payable   3,000,000           3,000,000     $ 3,000,000      
Amount of loan outstanding   $ 2,000,000           $ 1,000,000     $ 1,000,000      
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member] | Maximum [Member] | Tranche [Member]                            
Debt Instrument [Line Items]                            
Accrued interest $ 302,274                          
Conversion of stock, shares Issued | shares           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 | shares             100,000