Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

Net income (loss) attributable to Odyssey Marine Exploration, Inc.

$

18,688,236

$

(3,813,285

)

$

20,659,157

$

13,562,793

Numerator:

Basic net income (loss) available to stockholders

$

18,688,236

$

(3,813,285

)

$

20,659,157

$

13,562,793

Income (loss) on equity method investment

746,505

—

(256,062

)

—

Fair value change of debt instruments

(5,285,472

)

—

(5,528,725

)

(214,339

)

Fair value change of warrants

(10,798,965

)

—

(17,394,715

)

(3,398,976

)

Fair value change of convertible debt

(6,279

)

—

(360,690

)

—

Diluted net income (loss) available to stockholders

$

3,344,025

$

(3,813,285

)

$

(2,881,035

)

$

9,949,478

Denominator:

Weighted average common shares outstanding – Basic

20,665,783

20,025,067

20,524,779

19,871,381

Dilutive effect of options

24,862

—

—

5,236

Dilutive effect of other derivative instruments

3,871,880

—

3,871,880

174,754

Dilutive effect of warrants

519,690

—

1,386,386

91,459

Dilutive effect of convertible instruments

137,043

—

131,488

1,394,132

Weighted average common shares outstanding – Diluted

25,219,258

20,025,067

25,914,533

21,536,962

Net income (loss) per share:

Basic

$

0.90

$

(0.19

)

$

1.01

$

0.68

Diluted

$

0.13

$

(0.19

)

$

(0.11

)

$

0.46