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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2024
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The potential common shares in the following tables represent potential common shares from outstanding options, restricted stock awards, convertible notes and other convertible securities that were excluded from the calculation of diluted EPS during periods due to having an anti-dilutive effect are:
|  | Three Months Ended |
|  | March 31, 2024 |  |  | March 31, 2023 |
|  |  |  |  | (As restated) |
Average market price during the period |  | $ | 4.44 |  |  | $ | 3.21 |
Option awards |  |  | 1,529,824 |  |  |  | 848,118 |
Unvested restricted stock awards |  |  | 10,087 |  |  |  | 13,547 |
Convertible notes |  |  | 146,482 |  |  |  | 11,858,244 |
Common Stock Warrant related |  |  | 951,148 |  |  |  | 6,918,729 |
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 |
|  | March 31, 2024 |  |  | March 31, 2023 |
|  |  |  |  | (As restated) |
Net income (loss) attributable to Odyssey Marine Exploration, Inc. |  | $ | 3,498,024 |  |  | $ | 22,307,687 |
Numerator: |  |  |  |  |  |  |  |
Basic net income (loss) available to stockholders |  | $ | 3,498,024 |  |  | $ | 22,307,687 |
Fair value change in debt instruments |  |  | (1,617,819 | ) |  |  | — |
Fair value change in warrants |  |  | (6,798,430 | ) |  |  | — |
Interest expense related to convertible debt |  |  | — |  |  |  | 3,562 |
Diluted net income (loss) available to stockholders |  | $ | (4,918,225 | ) |  | $ | 22,311,249 |
Denominator: |  |  |  |  |  |  |  |
Weighted average common shares outstanding – Basic |  |  | 20,425,934 |  |  |  | 19,666,459 |
Dilutive effect of options |  |  | — |  |  |  | 4,399 |
Dilutive effect of restricted stock awards |  |  | — |  |  |  | 170,681 |
Dilutive effect of warrants |  |  | 1,909,565 |  |  |  | — |
Dilutive effect of convertible instruments |  |  | 4,322,601 |  |  |  | 37,005 |
Weighted average common shares outstanding – Diluted |  |  | 26,658,100 |  |  |  | 19,878,544 |
Net (loss) income per share – basic |  | $ | 0.17 |  |  | $ | 1.13 |
Net (loss) income per share – diluted |  | $ | (0.18 | ) |  | $ | 1.12 |
Summarize Our Fair Value Hierarchy For Our Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following tables summarize our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023:
|  | March 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Balance |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
37N Note embedded derivative |  | $ | — |  |  | $ | — |  |  | $ | 336,857 |  |  | $ | 336,857 |
Put option liability |  |  | — |  |  |  | — |  |  |  | 4,384,777 |  |  |  | 4,384,777 |
Litigation financing |  |  | — |  |  |  | — |  |  |  | 52,691,820 |  |  |  | 52,691,820 |
Warrant liabilities issued with debt (December 2023 Warrants) |  |  | — |  |  |  | — |  |  |  | 2,268,472 |  |  |  | 2,268,472 |
Warrant liabilities issued with equity (2022 Warrants) |  |  | — |  |  |  | — |  |  |  | 9,202,078 |  |  |  | 9,202,078 |
March 2023 note warrants |  |  | — |  |  |  | — |  |  |  | 5,263,018 |  |  |  | 5,263,018 |
Total of fair valued liabilities |  | $ | — |  |  | $ | — |  |  | $ | 74,147,022 |  |  | $ | 74,147,022 |
|  | December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Balance |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
37N Note embedded derivative |  | $ | — |  |  | $ | — |  |  | $ | 702,291 |  |  | $ | 702,291 |
Put option liability |  |  | — |  |  |  | — |  |  |  | 5,637,162 |  |  |  | 5,637,162 |
Litigation financing |  |  | — |  |  |  | — |  |  |  | 52,115,647 |  |  |  | 52,115,647 |
Warrant liabilities issued with debt (December 2023 Warrants) |  |  | — |  |  |  | — |  |  |  | 2,392,563 |  |  |  | 2,392,563 |
Warrant liabilities issued with equity (2022 Warrants) |  |  | — |  |  |  | — |  |  |  | 13,399,822 |  |  |  | 13,399,822 |
Total of fair valued liabilities |  | $ | — |  |  | $ | — |  |  | $ | 74,247,485 |  |  | $ | 74,247,485 |
Changes in our Level 3 fair value measurements | Change in our Level 3 fair value measurements were as follows:
|  | March 2023 note warrants |  |  | 37N Note embedded derivative |  |  | Put option liability |  |  | Litigation financing |  |  | Warrant liabilities issued with debt (December 2023 warrants) |  |  | Warrant liabilities issued with equity (2022 warrants) |  |  | Total |
Year ended December 31, 2023 |  |  | — |  |  |  | 702,291 |  |  |  | 5,637,162 |  |  |  | 52,115,647 |  |  |  | 2,392,563 |  |  |  | 13,399,822 |  |  |  | 74,247,485 |
Change in fair value |  |  | (2,491,420 | ) |  |  | (365,434 | ) |  |  | (1,252,385 | ) |  |  | 576,173 |  |  |  | (124,091 | ) |  |  | (4,197,744 | ) |  |  | (7,854,901 | )
Classification of warrant as liability |  |  | 7,754,438 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,754,438 |
Three months ended March 31, 2024 |  |  | 5,263,018 |  |  |  | 336,857 |  |  |  | 4,384,777 |  |  |  | 52,691,820 |  |  |  | 2,268,472 |  |  |  | 9,202,078 |  |  |  | 74,147,022 |
Year ended December 31, 2022 As restated |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 45,368,948 |  |  |  | — |  |  |  | 13,602,467 |  |  |  | 58,971,415 |
Change in fair value |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,685,517 |  |  |  | — |  |  |  | (4,732,403 | ) |  |  | (3,046,886 | )
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,528 |  |  |  | — |  |  |  | — |  |  |  | 2,528 |
Three months ended March 31, 2023 (As restated) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 47,056,993 |  |  |  | — |  |  |  | 8.870.064 |  |  |  | 55,927,057 |

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