XML 43 R22.htm IDEA: XBRL DOCUMENT v3.19.3

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:

		Three Months Ended								Nine Months Ended
		September 30, 2019				September 30, 2018				September 30, 2019				September 30, 2018
Net income (loss)		$	(4,229,833	)		$	(1,309,275	)		$	(8,172,000	)		$	(3,695,592	)
Numerator, basic and diluted net income (loss) available to stockholders		$	(4,229,833	)		$	(1,309,275	)		$	(8,172,000	)		$	(3,695,592	)
Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding			9,456,300				8,466,909				9,301,796				8,466,909
Common shares outstanding for basic			9,456,300				8,466,909				9,301,796				8,466,909
Shares used in computation – diluted:
Common shares outstanding for basic			9,456,300				8,466,909				9,301,796				8,466,909
Shares used in computing diluted net income per share			9,456,300				8,466,909				9,301,796				8,466,909
Net (loss) per share – basic		$	(0.45	)		$	(0.15	)		$	(0.88	)		$	(0.44	)
Net (loss) per share – diluted		$	(0.45	)		$	(0.15	)		$	(0.88	)		$	(0.44	)

In the Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares in the following tables represent potential common shares calculated using the treasury stock method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS:

		Three Months Ended								Nine Months Ended
		September 30, 2019				September 30, 2018				September 30, 2019				September 30, 2018
Average market price during the period		$	4.72			$	7.89			$	5.35			$	7.05
In the money potential common shares from options excluded			9,449				14,689				10,984				13,759
In the money potential common shares from warrants excluded			30,507				66,465				41,046				60,084

Out of Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS:

		Three Months Ended								Nine-Months Ended
Per share exercise price		September 30, 2019				September 30, 2018				September 30, 2019				September 30, 2018
Out of the money options excluded:
$12.48			136,833				136,833				136,833				136,833
$12.84			4,167				4,167				4,167				4,167
$26.40			75,158				75,158				75,158				75,158
Out-of-the-money warrants excluded:
$5.76			196,135				—				196,135				—
$7.16			700,000				—				700,000				—
$12.00			—				50,000				—				50,000
Total excluded			1,112,293				266,158				1,112,293				266,158

Unvested Restricted Stock Awards Excluded from EPS [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are:

Three Months Ended

Nine Months Ended

September 30, 2019

September 30, 2018

September 30, 2019

September 30, 2018

Potential common shares from unvested restricted stock awards excluded from EPS

41,667

132,826

41,667

132,826

X

- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=omex_InMoneyPotentialCommonSharesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=omex_OutOfMoneyPotentialCommonSharesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_RestrictedStockMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: