XML 87 R26.htm IDEA: XBRL DOCUMENT v3.20.1

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 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:

		12 Month Period Ended December 31, 2019				12 Month Period Ended December 31, 2018				12 Month Period Ended December 31, 2017
Net loss		$	(10,439,961	)		$	(5,172,436	)		$	(7,759,472	)
Cumulative dividends on Series G Preferred Stock			—				—				—
Numerator, basic and diluted net loss available to stockholders		$	(10,439,961	)		$	(5,172,436	)		$	(7,759,472	)
Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding			9,346,213				8,583,795				8,209,539
Shares used in computation – diluted:
Weighted average common shares outstanding			9,346,213				8,583,795				8,209,539
Net loss per share – basic and diluted		$	(1.12	)		$	(0.60	)		$	(0.95	)

Schedule of Financial Instruments at Fair Value on a Recurring Basis

We measure certain financial instruments at fair value on a recurring basis. The Company had liabilities that are required to be measured at fair value on a recurring basis as follows at December 31, 2019:

		Total				Level 1				Level 2				Level 3
Assets:		$	—			$	—			$	—			$	—
Liabilities:
Hybrid debt instrument at fair value		$	861,484			$	—			$	—			$	861,484

Reconciliation of the Beginning and Ending Balances for the Liability Measured at Fair Value on a Recurring Basis

The following is a reconciliation of the beginning and ending balances for the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year December 31, 2019: See footnote NOTE H: Note 10 – 37North for further detail.

Balance at December 31, 2018		$	—
Fair value of hybrid instrument issued			869,783
Gain on change in derivative liability			(8,299	)
Balance at December 31, 2019		$	861,484

Convertible Preferred Stock 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 used in the earning per share calculation due to having an anti-dilutive effect are:

		2019				2018				2017
Excluded unvested restricted stock awards			41,667				41,667				132,826

In the Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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

		2019				2018				2017
Average market price during the period		$	4.93			$	6.81			$	3.98
In the money potential common shares from options excluded			22,493				13,450				7,023
In the money potential common shares from warrants excluded			120,000				50,640				13,869

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 earnings per share because calculation of the associated potential common shares has an anti-dilutive effect. The following table lists options and warrants that were excluded from diluted EPS.

Per share exercise price		2019				2018				2017
Out of the money options excluded:
$3.59			—				—				—
$12.48			136,833				136,833				137,666
$12.84			4,167				4,167				4,167
$26.40			75,158				75,158				75,158
$34.68			—				—				—
$39.00			—				—				8,333
$41.16			—				—				—
$42.00			—				—				—
$46.80			—				—				—
Out-of-the-money warrants excluded:
$5.76			196,135				—				—
$7.16			700,000				700,000				—
$12.00			—				65,625				—
Total excluded			1,112,293				981,783				225,324

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

+ Details

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

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

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

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

X

- Details

Name:	us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

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: