crzhors
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Anybody we could think of to sign up for this chance? 
Odyssey Marine Exploration issued the following press release today:
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rgecy
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Its a Coca-Cola promotion...sorry should have aded that to my original post. Go to that web site and typr 'odyssey' in the search at the top.
Its a Coca-Cola promotion...sorry should have aded that to my original post. Go to that web site and typr 'odyssey' in the search at the top.
Odyssey Marine Exploration issued the following press release today:
Odyssey Marine Exploration Announces First Quarter 2007 Results
Tampa, FL - May 10, 2007 - Odyssey Marine Exploration (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, today filed a quarterly report with the Securities and Exchange Commission detailing results of the Company's first quarter 2007.
For the first quarter of 2007, Odyssey reported revenue of $2.2 million, compared to $.9 million in the first quarter 2006. The Company reported a net loss of $3.8 million, compared to a net loss of $3.9 million in 2006. The net loss per share for the first quarter was $.09, compared to an identical $.09 per share in the first quarter 2005.
"We are very pleased to report an increase in revenue during the first quarter of 2007 compared to the previous year. This suggests that the various strategic marketing and sales programs we have implemented over the course of last year as a vital component of our business plan are coming to fruition and are beginning to show results. At the same time we continue to build on our core business of shipwreck exploration and to expand our portfolio of projects," said John C. Morris, Odyssey's Chief Executive Officer.
First Quarter 2006 Results
REVENUE
Revenue for the first quarter 2007 was $2.2 million, compared to $.9 million in the first quarter 2006. The increase of $1.3 million in 2007 is primarily due to an increase in sales volume of gold and silver coins.
The outsourcing of our direct coin sales during FY 2006 to an experienced marketing partner has yielded encouraging results thus far. The majority of coins sold in 2007 were silver coins sold through that direct marketing partner. We have been pleased with the sales of our silver coin inventory directly to consumers at higher unit prices than we were receiving through our indirect wholesale channels.
EXPENSES
Operations and research expenses were $2.7 million in 2007, compared to $2.3 million in 2006. Of the $.4 million increase, $.6 million is related to vessel operating expenses primarily associated with our search and inspection vessel purchased in June 2006, offset by lower operations costs of our themed attractions segment, primarily associated with the closing of our New Orleans attraction in September 2006.
Marketing, general and administrative expenses were $2.7 million in 2007 as compared to $2.4 million in 2006. The increase of $.3 million is primarily related to an increase of share-based compensation costs related to adoption of FASB 123R ($.3 million) and corporate expenses ($.3 million) offset by lower marketing and employee costs attributed to the closing of our direct sales company-operated call center in May 2006 ($.2 million) and lower themed attraction expenses due to the closing of our New Orleans attraction in September 2006 ($.1 million.)
QUARTERLY OPERATIONAL UPDATE
Odyssey has numerous shipwreck projects in various stages of development around the world. Additional information about some of these projects is detailed in the 10K for the year ending December 31, 2006. This update covers developments since that 10K report was issued.
In order to protect the identities of the targets of our planned search or recovery operations, in some cases we will defer disclosing specific information relating to our projects until we have located the targeted shipwreck or shipwrecks and determined a course of action to protect our property rights.
Sussex Project
The Company has an exclusive partnering agreement with the Government of the United Kingdom for the archaeological excavation of HMS Sussex, a large British warship that sank in 1694, and which remains the property of the United Kingdom. On March 23, 2007, the Spanish Ministry of Foreign Affairs issued a press release to announce agreement between Spain and the United Kingdom for Odyssey to proceed with the Alboran project, which includes preliminary phases of excavation and identification of the site believed to be the Sussex as well as a survey of the area in which the shipwreck lies. As part of this agreement, Odyssey has agreed to provide information relative to other shipwrecks in the surrounding area to the Spanish Government to assist in their protection and preservation. The Company has already completed all work detailed in Phase 1 A of the Sussex archaeological project plan (www.shipwreck.net/sussexpp.html), as well as portions of Phase 1B, to the satisfaction of the Government of the United Kingdom.
Odyssey is currently waiting for the archaeological staff to be selected and scheduled before resuming operations on the site believed to be HMS Sussex.
Additional Projects
On April 9, 2007, Odyssey filed Admiralty arrests in the U.S. District Court for the Middle District of Florida on two sites, one in the Atlantic Ocean and one in the western Mediterranean. The Company plans to conduct additional work on both sites. Until additional ROV surveys and further exploration can be completed, the Company is not prepared to confirm the identities of either site.
In addition to the Sussex project, the company has now arrested three sites that require more extensive ROV operations. Our upcoming operational schedules will be developed to most efficiently utilize the Company's marine assets for further investigation and/or excavation of these sites, taking into account weather, legal and political issues as well as other operational factors.
About Odyssey Marine Exploration
Odyssey Marine Exploration is an American Stock Exchange Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects, methodologies and technologies, is available at www.shipwreck.net.
For additional information, please contact Natja Igney, Odyssey's Manager of Corporate Communications, at 813-876-1776.
Consolidated Balance Sheets (PDF) - http://shipwreck.net/pdf/Q107.pdf. You will need Adobe Acrobat to view this file. If you do not have this program, you can download a free Adobe Acrobat Reader at Adobe.com .
# # #
Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors," and "Business" in the Company's annual report on Form 10-K for the year ended December 31, 2006, which has been filed with the Securities and Exchange Commission.
Odyssey Marine Exploration
P.O. Box 320057
Tampa, FL 33679-2057
http://www.shipwreck.net
Odyssey Marine Exploration Announces First Quarter 2007 Results
Tampa, FL - May 10, 2007 - Odyssey Marine Exploration (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, today filed a quarterly report with the Securities and Exchange Commission detailing results of the Company's first quarter 2007.
For the first quarter of 2007, Odyssey reported revenue of $2.2 million, compared to $.9 million in the first quarter 2006. The Company reported a net loss of $3.8 million, compared to a net loss of $3.9 million in 2006. The net loss per share for the first quarter was $.09, compared to an identical $.09 per share in the first quarter 2005.
"We are very pleased to report an increase in revenue during the first quarter of 2007 compared to the previous year. This suggests that the various strategic marketing and sales programs we have implemented over the course of last year as a vital component of our business plan are coming to fruition and are beginning to show results. At the same time we continue to build on our core business of shipwreck exploration and to expand our portfolio of projects," said John C. Morris, Odyssey's Chief Executive Officer.
First Quarter 2006 Results
REVENUE
Revenue for the first quarter 2007 was $2.2 million, compared to $.9 million in the first quarter 2006. The increase of $1.3 million in 2007 is primarily due to an increase in sales volume of gold and silver coins.
The outsourcing of our direct coin sales during FY 2006 to an experienced marketing partner has yielded encouraging results thus far. The majority of coins sold in 2007 were silver coins sold through that direct marketing partner. We have been pleased with the sales of our silver coin inventory directly to consumers at higher unit prices than we were receiving through our indirect wholesale channels.
EXPENSES
Operations and research expenses were $2.7 million in 2007, compared to $2.3 million in 2006. Of the $.4 million increase, $.6 million is related to vessel operating expenses primarily associated with our search and inspection vessel purchased in June 2006, offset by lower operations costs of our themed attractions segment, primarily associated with the closing of our New Orleans attraction in September 2006.
Marketing, general and administrative expenses were $2.7 million in 2007 as compared to $2.4 million in 2006. The increase of $.3 million is primarily related to an increase of share-based compensation costs related to adoption of FASB 123R ($.3 million) and corporate expenses ($.3 million) offset by lower marketing and employee costs attributed to the closing of our direct sales company-operated call center in May 2006 ($.2 million) and lower themed attraction expenses due to the closing of our New Orleans attraction in September 2006 ($.1 million.)
QUARTERLY OPERATIONAL UPDATE
Odyssey has numerous shipwreck projects in various stages of development around the world. Additional information about some of these projects is detailed in the 10K for the year ending December 31, 2006. This update covers developments since that 10K report was issued.
In order to protect the identities of the targets of our planned search or recovery operations, in some cases we will defer disclosing specific information relating to our projects until we have located the targeted shipwreck or shipwrecks and determined a course of action to protect our property rights.
Sussex Project
The Company has an exclusive partnering agreement with the Government of the United Kingdom for the archaeological excavation of HMS Sussex, a large British warship that sank in 1694, and which remains the property of the United Kingdom. On March 23, 2007, the Spanish Ministry of Foreign Affairs issued a press release to announce agreement between Spain and the United Kingdom for Odyssey to proceed with the Alboran project, which includes preliminary phases of excavation and identification of the site believed to be the Sussex as well as a survey of the area in which the shipwreck lies. As part of this agreement, Odyssey has agreed to provide information relative to other shipwrecks in the surrounding area to the Spanish Government to assist in their protection and preservation. The Company has already completed all work detailed in Phase 1 A of the Sussex archaeological project plan (www.shipwreck.net/sussexpp.html), as well as portions of Phase 1B, to the satisfaction of the Government of the United Kingdom.
Odyssey is currently waiting for the archaeological staff to be selected and scheduled before resuming operations on the site believed to be HMS Sussex.
Additional Projects
On April 9, 2007, Odyssey filed Admiralty arrests in the U.S. District Court for the Middle District of Florida on two sites, one in the Atlantic Ocean and one in the western Mediterranean. The Company plans to conduct additional work on both sites. Until additional ROV surveys and further exploration can be completed, the Company is not prepared to confirm the identities of either site.
In addition to the Sussex project, the company has now arrested three sites that require more extensive ROV operations. Our upcoming operational schedules will be developed to most efficiently utilize the Company's marine assets for further investigation and/or excavation of these sites, taking into account weather, legal and political issues as well as other operational factors.
About Odyssey Marine Exploration
Odyssey Marine Exploration is an American Stock Exchange Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects, methodologies and technologies, is available at www.shipwreck.net.
For additional information, please contact Natja Igney, Odyssey's Manager of Corporate Communications, at 813-876-1776.
Consolidated Balance Sheets (PDF) - http://shipwreck.net/pdf/Q107.pdf. You will need Adobe Acrobat to view this file. If you do not have this program, you can download a free Adobe Acrobat Reader at Adobe.com .
# # #
Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors," and "Business" in the Company's annual report on Form 10-K for the year ended December 31, 2006, which has been filed with the Securities and Exchange Commission.
Odyssey Marine Exploration
P.O. Box 320057
Tampa, FL 33679-2057
http://www.shipwreck.net
Cablava... A funny thing happened on the way to the Sussex. While waiting for the Andalusians to get their act together Odyssey found and arrested another shipwreck in the Atlantic 1100 meters deep. This is the part I like the best in the arrest report.
"The wreck site consists of vessel remains and unidentified objects. The
company has seen what it believes may be valuable cargo on the site, although it will not be
possible to determine the identity of the vessel with any certainty until sufficient data is
gathered and artifacts are recovered and analyzed."
"The wreck site consists of vessel remains and unidentified objects. The
company has seen what it believes may be valuable cargo on the site, although it will not be
possible to determine the identity of the vessel with any certainty until sufficient data is
gathered and artifacts are recovered and analyzed."
E
eb1326
Guest
Re: Gibraltar Chronicle...
ODYSSEY EXPLORES PLANS TO MAKE GIB MARINE ARCHAEOLOGY CENTRE
Odyssey Marine Exploration the archaeological salvage company is in discussions with developers with a view to making Gibraltar a base for research, restoration and a museum of underwater archaeology.
The move would see the Rock’s ancient role as a naval base highlighted as a tourist attraction but the shipwreck archaeological centre would also serve as a base for academic research and the conservation and restoration of the artefacts recovered from the sea.
The arrival of a chartered American Airlines Boeing 757 which flew to the Rock from JFK, New York was said by an Odyssey spokesman to be part of the company’s activity but not related to the HMS Sussex project which is still awaiting the final go ahead. The use of Gibraltar as a base is being assessed at various levels including logistics such as movement of goods, security and the economic environment. The easy use of the airport would be a factor in their evaluation. “So far people working with us have been fantastic,” said the spokesman.
During the course of Odyssey’s search expeditions, 418 targets were located. Several of those targets turned out to be ancient shipwreck sites, including Phoenician and Roman sites over 2,000 years old. Pictures on their website show piles of ancient urns on the seabed as well as what they believe to be HMS Sussex’s anchor.
Many objects found were also modern shipwrecks, geology or simply debris and the vessel has also taken a sonar survey of the wreck of HMS Ark Royal.
If the company goes ahead with the plan of setting up of a permanent base on the Rock this would serve their operations from the Eastern Mediterranean to the length of the Atlantic coast to coast.
ODYSSEY EXPLORES PLANS TO MAKE GIB MARINE ARCHAEOLOGY CENTRE
Odyssey Marine Exploration the archaeological salvage company is in discussions with developers with a view to making Gibraltar a base for research, restoration and a museum of underwater archaeology.
The move would see the Rock’s ancient role as a naval base highlighted as a tourist attraction but the shipwreck archaeological centre would also serve as a base for academic research and the conservation and restoration of the artefacts recovered from the sea.
The arrival of a chartered American Airlines Boeing 757 which flew to the Rock from JFK, New York was said by an Odyssey spokesman to be part of the company’s activity but not related to the HMS Sussex project which is still awaiting the final go ahead. The use of Gibraltar as a base is being assessed at various levels including logistics such as movement of goods, security and the economic environment. The easy use of the airport would be a factor in their evaluation. “So far people working with us have been fantastic,” said the spokesman.
During the course of Odyssey’s search expeditions, 418 targets were located. Several of those targets turned out to be ancient shipwreck sites, including Phoenician and Roman sites over 2,000 years old. Pictures on their website show piles of ancient urns on the seabed as well as what they believe to be HMS Sussex’s anchor.
Many objects found were also modern shipwrecks, geology or simply debris and the vessel has also taken a sonar survey of the wreck of HMS Ark Royal.
If the company goes ahead with the plan of setting up of a permanent base on the Rock this would serve their operations from the Eastern Mediterranean to the length of the Atlantic coast to coast.
E
eb1326
Guest
It looks like the Alert is running survey lines again. I don't think they finished the survey work for the Spanish.
They also got a default judgement on one of the arrests.
Odyssey Obtains Default Judgment on Admiralty Arrest of Shipwreck
Wednesday May 16, 9:25 am ET
TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration (AMEX:OMR - News), the world's leader in the field of deep-ocean shipwreck exploration announced today that it has received a default judgment from the U.S. District Court for the Middle District of Florida on the admiralty arrest complaint filed by the Company with the court in September 2006.
This default judgment grants Odyssey all requests in the original complaint, including sole and exclusive ownership of the shipwreck site, believed to be the remains of a Colonial period shipwreck located in the Atlantic Ocean outside the territorial waters of any nation.
They also got a default judgement on one of the arrests.
Odyssey Obtains Default Judgment on Admiralty Arrest of Shipwreck
Wednesday May 16, 9:25 am ET
TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration (AMEX:OMR - News), the world's leader in the field of deep-ocean shipwreck exploration announced today that it has received a default judgment from the U.S. District Court for the Middle District of Florida on the admiralty arrest complaint filed by the Company with the court in September 2006.
This default judgment grants Odyssey all requests in the original complaint, including sole and exclusive ownership of the shipwreck site, believed to be the remains of a Colonial period shipwreck located in the Atlantic Ocean outside the territorial waters of any nation.
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Jeff, I think Fridays meeting is going to be worth going to, I may have to reconsider my plans.
Gibraltar is nice this time of year.
Tom
Gibraltar is nice this time of year.
Tom
Re: St. Pete Times Article...
Odyssey Marine seeks the sole salvage rights for a pair of ships in European waters.
By Scott Barancik
Published May 17, 2007
A Tampa company that scans the ocean floors for sunken treasure says it found two more ships to forage.
Odyssey Marine Exploration Inc. recently told a federal judge in Tampa about its latest discoveries. One wreck, believed to be an Italian-registered passenger vessel that sank during World War I, was found 500 meters beneath the surface of the Mediterranean Sea roughly 65 miles east of Sardinia. Odyssey said it recovered objects such as brass fixtures and a teacup from the ship but believes more valuable cargo may be on board.
Little detail was offered about a second wreck the company discovered in 1, 100 meters of water about 100 miles west of Gibraltar, a British colony at the southern tip of Spain. In court papers, Odyssey said only that it believes the ship sank in the 19th century and that it had recovered a small bronze block from the wreckage.
Under international maritime law, salvors like Odyssey - a publicly traded company whose stock closed Wednesday at $4.49 per share - can ask a federal judge to grant it exclusive control and ownership of a ship found in international waters. But Odyssey apparently has learned to disclose as little detail as necessary. Previously, the company published the rough longitude and latitude of its wrecks in court papers open to the public. Last month, it obtained court permission to submit such coordinates under seal.
"Due to the nature of salvage operations and the existence of pirates and poachers, it is necessary to maintain secrecy of the location, " the company wrote.
In a separate case Tuesday, a federal judge in Tampa awarded Odyssey title to a 17th century merchant vessel it found near the mouth of the English Channel. The company is also salvaging a wreck believed to be the HMS Sussex, a British warship that sank in 1694 and is the property of the United Kingdom. Odyssey says the ship may contain coins worth billions of dollars today.
Odyssey Marine Exploration
Headquarters: Tampa
Annual shareholders meeting: Friday, Quorum Hotel, Tampa
Biggest find to date: The Republic, an 1865 steamship off the Georgia coast discovered in 2003 containing thousands of gold and silver coins.
Coming exhibit: Odyssey will offer Shipwreck! Pirates & Treasure, an interactive shipwreck and treasure exhibit, at Tampa's Museum of Science & Industry from June 22 through Jan. 31.
Odyssey Marine seeks the sole salvage rights for a pair of ships in European waters.
By Scott Barancik
Published May 17, 2007
A Tampa company that scans the ocean floors for sunken treasure says it found two more ships to forage.
Odyssey Marine Exploration Inc. recently told a federal judge in Tampa about its latest discoveries. One wreck, believed to be an Italian-registered passenger vessel that sank during World War I, was found 500 meters beneath the surface of the Mediterranean Sea roughly 65 miles east of Sardinia. Odyssey said it recovered objects such as brass fixtures and a teacup from the ship but believes more valuable cargo may be on board.
Little detail was offered about a second wreck the company discovered in 1, 100 meters of water about 100 miles west of Gibraltar, a British colony at the southern tip of Spain. In court papers, Odyssey said only that it believes the ship sank in the 19th century and that it had recovered a small bronze block from the wreckage.
Under international maritime law, salvors like Odyssey - a publicly traded company whose stock closed Wednesday at $4.49 per share - can ask a federal judge to grant it exclusive control and ownership of a ship found in international waters. But Odyssey apparently has learned to disclose as little detail as necessary. Previously, the company published the rough longitude and latitude of its wrecks in court papers open to the public. Last month, it obtained court permission to submit such coordinates under seal.
"Due to the nature of salvage operations and the existence of pirates and poachers, it is necessary to maintain secrecy of the location, " the company wrote.
In a separate case Tuesday, a federal judge in Tampa awarded Odyssey title to a 17th century merchant vessel it found near the mouth of the English Channel. The company is also salvaging a wreck believed to be the HMS Sussex, a British warship that sank in 1694 and is the property of the United Kingdom. Odyssey says the ship may contain coins worth billions of dollars today.
Odyssey Marine Exploration
Headquarters: Tampa
Annual shareholders meeting: Friday, Quorum Hotel, Tampa
Biggest find to date: The Republic, an 1865 steamship off the Georgia coast discovered in 2003 containing thousands of gold and silver coins.
Coming exhibit: Odyssey will offer Shipwreck! Pirates & Treasure, an interactive shipwreck and treasure exhibit, at Tampa's Museum of Science & Industry from June 22 through Jan. 31.
ivan salis
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well folks ---its the nay sayers "swan" song as in "black swan"--- I can see why the hush - hush mystery now ---that kind of a haul --500,000 silver coins ---you need alot of "cover" to keep folks off your tail ---esp since its in open waters---the site whould be "open" to poaching---a good day for the stock holders 
Ivan
IvanRe: Franklin Mint...
The Franklin Mint, which recently offered treasure from the El Cazador shipwreck in one of the most successful sales of authentic coins in history, today announced its interest in pursuing discussions with Odyssey Marine Exploration (AMEX:OMR) to acquire all or part of the immense treasure trove of silver and gold coins recently discovered along with the “Black Swan“� shipwreck.
The Franklin Mint is no stranger to multi-million dollar “buried treasure“� finds. This March, the company announced that it had acquired hundreds of thousands of coins from the famous El Cazador, “the shipwreck that changed the world“� by sparking a series of events that led to the Louisiana Purchase and the doubling in size of the United States over 200 years ago. This was the most historically impactful find of its kind in U.S. history.
“Coins recovered from shipwrecks are truly one-of-a-kind pieces of treasure, and The Franklin Mint has a long history of enhancing and securing the potential value of historic finds such as El Cazador,“� commented M. Moshe Malamud, chairman of The Franklin Mint and a life-long collector. “To many consumers, being able to own an authentic piece of American history and pass it on from generation to generation is priceless. We congratulate Odyssey on this extraordinary discovery, and it is our intent to discuss ways in which we can work with Odyssey to maximize its great potential value.“�
Recovered, restored and then authenticated by the Numismatic Guaranty Corporation, the El Cazador silver Reale coins - the immediate predecessor to the U.S. Dollar - were made available to the public for the first time in April. The Franklin Mint kicked off its offering of El Cazador treasure with a multimillion-dollar sales event on QVC, and the ship's artifacts hold an estimated value of over $100,000,000.
The Franklin Mint, which recently offered treasure from the El Cazador shipwreck in one of the most successful sales of authentic coins in history, today announced its interest in pursuing discussions with Odyssey Marine Exploration (AMEX:OMR) to acquire all or part of the immense treasure trove of silver and gold coins recently discovered along with the “Black Swan“� shipwreck.
The Franklin Mint is no stranger to multi-million dollar “buried treasure“� finds. This March, the company announced that it had acquired hundreds of thousands of coins from the famous El Cazador, “the shipwreck that changed the world“� by sparking a series of events that led to the Louisiana Purchase and the doubling in size of the United States over 200 years ago. This was the most historically impactful find of its kind in U.S. history.
“Coins recovered from shipwrecks are truly one-of-a-kind pieces of treasure, and The Franklin Mint has a long history of enhancing and securing the potential value of historic finds such as El Cazador,“� commented M. Moshe Malamud, chairman of The Franklin Mint and a life-long collector. “To many consumers, being able to own an authentic piece of American history and pass it on from generation to generation is priceless. We congratulate Odyssey on this extraordinary discovery, and it is our intent to discuss ways in which we can work with Odyssey to maximize its great potential value.“�
Recovered, restored and then authenticated by the Numismatic Guaranty Corporation, the El Cazador silver Reale coins - the immediate predecessor to the U.S. Dollar - were made available to the public for the first time in April. The Franklin Mint kicked off its offering of El Cazador treasure with a multimillion-dollar sales event on QVC, and the ship's artifacts hold an estimated value of over $100,000,000.
Re: Disney...
Timing of treasure's discovery is as good as gold for Disney ( McClatchy-Tribune Information Services -- Unrestricted )
May 19, 2007 (The Sacramento Bee - McClatchy-Tribune Information Services via COMTEX) --
Call it "Pirates of the Caribbean: The Mystery of the Black Swan."
Odyssey Marine Exploration announced Friday that it had discovered probably the most fruitful sunken ship treasure in history, hauling gold and silver coins worth about $500 million in a project so hush-hush it has its own secret code name, "Black Swan."
The announcement comes just a week before the opening of "Pirates of the Caribbean: At World's End," the last swashbuckling caper of the blockbuster Disney trilogy and a movie awash in yarns of unclaimed treasure and skeletal sunken ships.
Coincidence? Maybe. Box office gold and real gold are seldom so much in the same boat.
Turns out Odyssey and Disney are business partners, according to Cherise McVicar, senior vice president of National Promotions for Disney, and had been working on a marketing partnership well before Odyssey found the X that marked the spot.
"It's so serendipitous, I can't get over it," she said. "They are an innovative company that we've so enjoyed getting to know and being in a relationship with."
McVicar said working together has lent authenticity to "Pirates" publicity, and Odyssey has even offered some of its real-life treasure for promotional giveaways.
As to whether Odyssey may have timed its announcement to capitalize on the film, McVicar cited the I've-got-a-secret rule of human nature. "I would suspect that when you find something that cool, it would be very difficult to keep it under wraps," she said.
Odyssey spokesperson Laura Lionetti Barton confirmed the partnership and that the timing of the announcement and movie opening was a happy coincidence.
But Odyssey didn't mention the connection during the publicity blitz surrounding the discovery of 17 tons of gold and silver coins from a colonial ship that went down somewhere in the Atlantic.
The company stated in news releases and briefing materials this month that it's trying to bank on the current popularity of pirate movies and public interest in shipwrecks to bolster its sagging stock and finances.
In briefing materials the company made available to investors for its annual meeting Friday, Odyssey said its efforts to build its name brand and boost sales include "the collaboration with several Fortune 100 marketing partners on highly visible campaigns centering around Disney's 'Pirates of The Caribbean: At World's End.'
"That will give us exposure to millions of potential customers," the briefing materials stated, without providing further details or identifying the Fortune 100 marketing partners.
The investor materials also mention unidentified "media partners" working with the company "on various projects and documentaries portraying our work." No further details were provided on those efforts.
McVicar said Disney was one of the companies mentioned.
The two have crossed paths before. At least two members of the management team for Odyssey's entertainment arm are former Disney executives, including Executive Vice President Roger Kurz, who was director of marketing for Walt Disney World for six years, and Sam Hutchins, vice president of merchandise programs, who worked in retail operations for Disney for 22 years.
But the courtship between the two companies did not involve either executive, McVicar said.
In 2005, Odyssey launched Odyssey Marine Entertainment, a division aimed at parlaying its deep-sea discoveries into books, merchandise and tourist attractions. The Tampa-based company's interactive exhibit "Shipwreck! Pirates & Treasures" is to open June 22 at the Tampa Museum of Science and Industry.
Its first attraction, "Odyssey Shipwreck & Treasure Adventure," was barely two days in its New Orleans home when Hurricane Katrina wiped it out.
Odyssey Marine Exploration has lost $34 million over the past two years. In 2006, the company lost $19 million on revenue of only $5 million. That followed a $14.9 million loss on $10 million in revenue in 2005, according to filings the company made to the U.S. Securities and Exchange Commission. The company has lost $3.8 million in the first quarter of this year.
Odyssey's shares on the American Stock Exchange sold for as low as $2 last June. In January, the company raised $6.6 million in a private stock sale to investors through two hedge funds. Those Odyssey Marine Exploration shares are now worth $14.3 million, according to SEC filings.
And now that word is out about the company's haul, Odyssey Marine shares jumped 80 percent, closing at $8.30 a share -- up $3.70.
Which pretty much proves what music video directors have known for years: If you've got the booty, it pays to flaunt it.
Timing of treasure's discovery is as good as gold for Disney ( McClatchy-Tribune Information Services -- Unrestricted )
May 19, 2007 (The Sacramento Bee - McClatchy-Tribune Information Services via COMTEX) --
Call it "Pirates of the Caribbean: The Mystery of the Black Swan."
Odyssey Marine Exploration announced Friday that it had discovered probably the most fruitful sunken ship treasure in history, hauling gold and silver coins worth about $500 million in a project so hush-hush it has its own secret code name, "Black Swan."
The announcement comes just a week before the opening of "Pirates of the Caribbean: At World's End," the last swashbuckling caper of the blockbuster Disney trilogy and a movie awash in yarns of unclaimed treasure and skeletal sunken ships.
Coincidence? Maybe. Box office gold and real gold are seldom so much in the same boat.
Turns out Odyssey and Disney are business partners, according to Cherise McVicar, senior vice president of National Promotions for Disney, and had been working on a marketing partnership well before Odyssey found the X that marked the spot.
"It's so serendipitous, I can't get over it," she said. "They are an innovative company that we've so enjoyed getting to know and being in a relationship with."
McVicar said working together has lent authenticity to "Pirates" publicity, and Odyssey has even offered some of its real-life treasure for promotional giveaways.
As to whether Odyssey may have timed its announcement to capitalize on the film, McVicar cited the I've-got-a-secret rule of human nature. "I would suspect that when you find something that cool, it would be very difficult to keep it under wraps," she said.
Odyssey spokesperson Laura Lionetti Barton confirmed the partnership and that the timing of the announcement and movie opening was a happy coincidence.
But Odyssey didn't mention the connection during the publicity blitz surrounding the discovery of 17 tons of gold and silver coins from a colonial ship that went down somewhere in the Atlantic.
The company stated in news releases and briefing materials this month that it's trying to bank on the current popularity of pirate movies and public interest in shipwrecks to bolster its sagging stock and finances.
In briefing materials the company made available to investors for its annual meeting Friday, Odyssey said its efforts to build its name brand and boost sales include "the collaboration with several Fortune 100 marketing partners on highly visible campaigns centering around Disney's 'Pirates of The Caribbean: At World's End.'
"That will give us exposure to millions of potential customers," the briefing materials stated, without providing further details or identifying the Fortune 100 marketing partners.
The investor materials also mention unidentified "media partners" working with the company "on various projects and documentaries portraying our work." No further details were provided on those efforts.
McVicar said Disney was one of the companies mentioned.
The two have crossed paths before. At least two members of the management team for Odyssey's entertainment arm are former Disney executives, including Executive Vice President Roger Kurz, who was director of marketing for Walt Disney World for six years, and Sam Hutchins, vice president of merchandise programs, who worked in retail operations for Disney for 22 years.
But the courtship between the two companies did not involve either executive, McVicar said.
In 2005, Odyssey launched Odyssey Marine Entertainment, a division aimed at parlaying its deep-sea discoveries into books, merchandise and tourist attractions. The Tampa-based company's interactive exhibit "Shipwreck! Pirates & Treasures" is to open June 22 at the Tampa Museum of Science and Industry.
Its first attraction, "Odyssey Shipwreck & Treasure Adventure," was barely two days in its New Orleans home when Hurricane Katrina wiped it out.
Odyssey Marine Exploration has lost $34 million over the past two years. In 2006, the company lost $19 million on revenue of only $5 million. That followed a $14.9 million loss on $10 million in revenue in 2005, according to filings the company made to the U.S. Securities and Exchange Commission. The company has lost $3.8 million in the first quarter of this year.
Odyssey's shares on the American Stock Exchange sold for as low as $2 last June. In January, the company raised $6.6 million in a private stock sale to investors through two hedge funds. Those Odyssey Marine Exploration shares are now worth $14.3 million, according to SEC filings.
And now that word is out about the company's haul, Odyssey Marine shares jumped 80 percent, closing at $8.30 a share -- up $3.70.
Which pretty much proves what music video directors have known for years: If you've got the booty, it pays to flaunt it.
ScubaFinder
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typicallyspanish.com 
This is "typical Spain" indeed! I could find a box of soggy crackers washed ashore and Spain would try to claim them. The Spanish government's position on this stuff is quite laughable...Peru and Bolivia MIGHT have a right to gripe....but the truth is, if you didn't go looking for it for 300+ years, get over it.
According to the UNESCO Convention, their interest is in studying historic shipwrecks and preserving nautical archaeology. Odyssey did very good archaeological work on this site....why isn't Spain demanding the historical documentation? Why are they only complaining about the silver and gold
Typically Spanish indeed.
I say congratulations to Odyssey. No matter what transpires in the courts, they have two recent MAJOR shipwreck finds under their belts. I don't recall reading about any of the nay-sayers in the papers recently.
This is "typical Spain" indeed! I could find a box of soggy crackers washed ashore and Spain would try to claim them. The Spanish government's position on this stuff is quite laughable...Peru and Bolivia MIGHT have a right to gripe....but the truth is, if you didn't go looking for it for 300+ years, get over it.According to the UNESCO Convention, their interest is in studying historic shipwrecks and preserving nautical archaeology. Odyssey did very good archaeological work on this site....why isn't Spain demanding the historical documentation? Why are they only complaining about the silver and gold
Typically Spanish indeed. I say congratulations to Odyssey. No matter what transpires in the courts, they have two recent MAJOR shipwreck finds under their belts. I don't recall reading about any of the nay-sayers in the papers recently.
ivan salis
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the spanish goverment of the early 1600 thru 1830's era were greedy lazy slave masters raping the mines of peru and bolivia and exploting the native indains and african slaves to do the "work"---starting about 400 years ago ---they were greedy then and their greedy now ---what "claim" do they have to the silver ---the famous "we stole it from the locals and it was on our ship being shipped home---so its ours?" ---that they exploted the locals and used them for forced labor to till the silver out of their land so that it could be "shipped" back to spain for it to pay its debts --while the spanish "upper class" lived lavish,vain ,idle and wasteful lives----if anyone has a valid "claim" it should be the country of origin not the spanish and if not them then the finders of the wreck---spain if you "want" your shipwrecked silver and gold--- get off your butts and find them yourself---for gods sake --you have the archives where most if not all the facts about the shipwrecks come from---but then its easier for you to "let" other people do all the work and then "steal" it from them ---just like you did hundreds of years ago ---just a "new" twist on the same old game----yes spain "will" let you see the archive papers and do years of long "research" and put forth all the money and effort---and all the work and when its all said and done ---then they move in a attempt to "grab" everything or tie you up in "legal" knots until you give them a huge hunk or wind up going broke because of years and years of lawyers and red tape---the spanish govt "specializes" in this type of "shakedown"----there is nothing new about this sadly---Ivan
Odyssey Marine Exploration issued the following press release today:
Odyssey Provides "Black Swan" Shipwreck Information Update
Tampa, FL - May 21, 2007- Since the announcement by Odyssey Marine Exploration, Inc. (AMEX:OMR) of the recovery of over 500,000 coins from the shipwreck code-named "Black Swan", intense international media coverage has led to many questions that the Company would like to address.
In addition to the following questions and answers, additional information on the shipwreck can be accessed in the "Black Swan Question and Answer" section of Odyssey's website at www.shipwreck.net, or a copy may be obtained by contacting the Company.
1. It has been widely reported that this shipwreck could be worth up to $500 million. What is the Company's position on this?
The Company has not estimated the total potential value of the shipwreck, other than to estimate on a preliminary basis a wide range of potential retail prices based on the coins that have been conserved to date.
What we know is that we have recovered over 500,000 silver coins weighing over 17 tons, along with some gold coins and other artifacts. After conservation of the first 6,000 coins, we requested that a numismatist and one of the world's most experienced coin marketers, Nick Bruyer, inspect the coins and provide an opinion of the retail pricing that we could expect from the collection.
Based on Mr. Bruyer's opinion, Odyssey reported that we expected the retail pricing of the silver coins to range from several hundred to four thousand dollars per coin. This wide range of prices would depend on the condition, origin and date of the individual coins. We understand that in a separate interview with a reporter, Mr. Bruyer provided his opinion that the mean retail price of the coins could be approximately $1,000 based on the small sample of coins that he inspected. This was reported as a potential $500 million retail value for the coins, which explains where that figure originated.
Odyssey's position is that until all the coins are conserved, documented and graded, it is impossible to know what the entire collection would bring at retail. Based on the coins that have been conserved to date and that he has been able to inspect, we are comfortable with Mr. Bruyer's opinion that coins from the "Black Swan" will bring from several hundred to four thousand dollars per coin retail. These are estimates that could change significantly when the rest of the coins are conserved and do not include the cost of marketing and sales, so actual revenue to Odyssey would be much lower than retail sales prices.
For more information on the marketing and pricing of coins, see questions 2, 8 and 12 in the "Black Swan Q and A".
2. There have been reports that the "Black Swan" is a number of different shipwrecks, including HMS Sussex and the Merchant Royal. Are any of these reports correct?
We can confirm that the "Black Swan" is not HMS Sussex, and that the "Black Swan" was not found in waters anywhere near the shipwreck believed to be HMS Sussex. Beyond that, we cannot confirm the identity of the shipwreck because we are not certain ourselves. The site is in an area in which a number of Colonial-era Shipwrecks were believed to be lost. The "Black Swan" bears characteristics of one shipwreck in particular, but some of the evidence gathered to date is inconsistent with our research, so we want to be sure of the identity before we announce it.
3. It has been reported that the Spanish Government is engaging in a "probe" of Odyssey because it is "suspicious" that we have not publicized more information about the shipwreck. Is this true?
We have no knowledge of any such inquiry, and would expect that we would have been the first ones contacted if there was one. In our experience with the Spanish Government, with whom we have had a very cordial relationship for many years, we would have been informed directly or through the US or UK embassy of any outstanding issues relating to Odyssey's operations.
During the past few days, we have also seen many fanciful media reports from Spain with absolutely no substance in reality. Unfortunately, some of these wild allegations would logically cause concern to the Spanish Government. We anticipate presenting the Spanish Government with an official account of our activities in order to assure them that many of these media reports relative to the "Black Swan" are pure fiction.
We have stated clearly that the recovery was conducted in conformity with Salvage Law and the Law of the Sea Convention, beyond the territorial waters or legal jurisdiction of any country. We do not believe that the recovery is subject to sovereign immunity by any nation pursuant to the Law of the Sea Convention.
The coins were brought into the United States with a valid export license granted by the country from which they were exported, and imported legally pursuant to US Law.
There was no point at which any aspect of the "Black Swan" operation was within the jurisdiction of Spanish authorities, and we will be pleased to provide proof of that fact to the Spanish Government if requested officially.
4. What about the claim that the Spanish Government has now asked the "Guardia Civil" marine patrol to monitor Odyssey's activities?
The Spanish Guardia Civil has always monitored Odyssey's ships in Spanish Territorial waters. When operating in or near Spanish Territorial waters, we report our operational plans and movements to the Guardia Civil marine patrol before we send our ships to sea. They are able to monitor all our activities visibly with their patrol boats and through radar, so it is illogical to suggest that we have conducted any illicit operations in Spanish territorial waters.
5. What happens, if you finally determine the identity of the "Black Swan" and establish that the UK, Spain, any other country or even individuals may have rights to the shipwreck?
If we are able to confirm that some other entity has a legitimate legal claim to this shipwreck when - and if - the identity is confirmed, we intend to provide legal notice to any and all potential claimants. Even if another entity is able to prove that it has an ownership interest in the shipwreck and/or cargo and that they had not legally abandoned the shipwreck, Odyssey would apply for a salvage award from the Admiralty Court. In cases such as this, salvors are typically awarded up to 90% of the recovery.
We do believe that most shipwrecks that we recover, including the "Black Swan", will likely result in claims by other parties. Many will be spurious claims, but we anticipate that there might be some legitimate ones as well. In the case of the "Black Swan", it is the opinion of our legal counsel that even if a claim is deemed to be legitimate by the courts, Odyssey should still receive title to a significant majority of the recovered goods.
6. Why is Odyssey being so "secretive" about the "Black Swan?"
Based on past experience with other shipwrecks, we have found that putting out information about the identity of shipwrecks into the public before we are certain of the identity results in wild speculation about values, ownership rights and scores of other issues. We also believe that it would be an added risk factor to disclose the location of the site because we have publicly stated that we have left a large number of artifacts on the site, and the security risk is obvious.
7. Why haven't you determined the identity of the shipwreck yet? When will you announce the identity?
Determining the identity of a shipwreck is complicated. For example, it would be possible to find a French-built ship, with English cannons, Dutch pottery, Chinese porcelain, Turkish pipes, and Venetian trading beads that had been captured by pirates before it sank. Proving the shipwreck's identity in that case might prove very difficult, if not impossible depending on the research available.
In the best interest of all concerned, we will follow our often-stated policy of announcing what we know about the identity of a shipwreck, only after it's confirmed by research.
8. There have been reports of a partnership between Odyssey Marine Exploration and the Disney organization. Are these true?
We can confirm that Odyssey and the Disney organization have recently entered into a relationship on a number of projects, and that the two companies are in discussions relative to some new partnership opportunities.
We have immense respect for Disney and believe that a combination of Odyssey's authentic deep-ocean adventures coupled with Disney's story-telling, film-making, television and marketing capabilities will reap benefits for both companies, while providing the public with an unprecedented opportunity to enjoy the thrill of deep-ocean exploration.
About Odyssey Marine Exploration Odyssey Marine Exploration is a Publicly Traded US Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, the "Black Swan" project, and the Company's other activities is available at www.shipwreck.net.
For additional information, please contact Natja Igney, Odyssey's Manager of Corporate Communications, at 813-876-1776 ext 2553.
# # #
Odyssey Provides "Black Swan" Shipwreck Information Update
Tampa, FL - May 21, 2007- Since the announcement by Odyssey Marine Exploration, Inc. (AMEX:OMR) of the recovery of over 500,000 coins from the shipwreck code-named "Black Swan", intense international media coverage has led to many questions that the Company would like to address.
In addition to the following questions and answers, additional information on the shipwreck can be accessed in the "Black Swan Question and Answer" section of Odyssey's website at www.shipwreck.net, or a copy may be obtained by contacting the Company.
1. It has been widely reported that this shipwreck could be worth up to $500 million. What is the Company's position on this?
The Company has not estimated the total potential value of the shipwreck, other than to estimate on a preliminary basis a wide range of potential retail prices based on the coins that have been conserved to date.
What we know is that we have recovered over 500,000 silver coins weighing over 17 tons, along with some gold coins and other artifacts. After conservation of the first 6,000 coins, we requested that a numismatist and one of the world's most experienced coin marketers, Nick Bruyer, inspect the coins and provide an opinion of the retail pricing that we could expect from the collection.
Based on Mr. Bruyer's opinion, Odyssey reported that we expected the retail pricing of the silver coins to range from several hundred to four thousand dollars per coin. This wide range of prices would depend on the condition, origin and date of the individual coins. We understand that in a separate interview with a reporter, Mr. Bruyer provided his opinion that the mean retail price of the coins could be approximately $1,000 based on the small sample of coins that he inspected. This was reported as a potential $500 million retail value for the coins, which explains where that figure originated.
Odyssey's position is that until all the coins are conserved, documented and graded, it is impossible to know what the entire collection would bring at retail. Based on the coins that have been conserved to date and that he has been able to inspect, we are comfortable with Mr. Bruyer's opinion that coins from the "Black Swan" will bring from several hundred to four thousand dollars per coin retail. These are estimates that could change significantly when the rest of the coins are conserved and do not include the cost of marketing and sales, so actual revenue to Odyssey would be much lower than retail sales prices.
For more information on the marketing and pricing of coins, see questions 2, 8 and 12 in the "Black Swan Q and A".
2. There have been reports that the "Black Swan" is a number of different shipwrecks, including HMS Sussex and the Merchant Royal. Are any of these reports correct?
We can confirm that the "Black Swan" is not HMS Sussex, and that the "Black Swan" was not found in waters anywhere near the shipwreck believed to be HMS Sussex. Beyond that, we cannot confirm the identity of the shipwreck because we are not certain ourselves. The site is in an area in which a number of Colonial-era Shipwrecks were believed to be lost. The "Black Swan" bears characteristics of one shipwreck in particular, but some of the evidence gathered to date is inconsistent with our research, so we want to be sure of the identity before we announce it.
3. It has been reported that the Spanish Government is engaging in a "probe" of Odyssey because it is "suspicious" that we have not publicized more information about the shipwreck. Is this true?
We have no knowledge of any such inquiry, and would expect that we would have been the first ones contacted if there was one. In our experience with the Spanish Government, with whom we have had a very cordial relationship for many years, we would have been informed directly or through the US or UK embassy of any outstanding issues relating to Odyssey's operations.
During the past few days, we have also seen many fanciful media reports from Spain with absolutely no substance in reality. Unfortunately, some of these wild allegations would logically cause concern to the Spanish Government. We anticipate presenting the Spanish Government with an official account of our activities in order to assure them that many of these media reports relative to the "Black Swan" are pure fiction.
We have stated clearly that the recovery was conducted in conformity with Salvage Law and the Law of the Sea Convention, beyond the territorial waters or legal jurisdiction of any country. We do not believe that the recovery is subject to sovereign immunity by any nation pursuant to the Law of the Sea Convention.
The coins were brought into the United States with a valid export license granted by the country from which they were exported, and imported legally pursuant to US Law.
There was no point at which any aspect of the "Black Swan" operation was within the jurisdiction of Spanish authorities, and we will be pleased to provide proof of that fact to the Spanish Government if requested officially.
4. What about the claim that the Spanish Government has now asked the "Guardia Civil" marine patrol to monitor Odyssey's activities?
The Spanish Guardia Civil has always monitored Odyssey's ships in Spanish Territorial waters. When operating in or near Spanish Territorial waters, we report our operational plans and movements to the Guardia Civil marine patrol before we send our ships to sea. They are able to monitor all our activities visibly with their patrol boats and through radar, so it is illogical to suggest that we have conducted any illicit operations in Spanish territorial waters.
5. What happens, if you finally determine the identity of the "Black Swan" and establish that the UK, Spain, any other country or even individuals may have rights to the shipwreck?
If we are able to confirm that some other entity has a legitimate legal claim to this shipwreck when - and if - the identity is confirmed, we intend to provide legal notice to any and all potential claimants. Even if another entity is able to prove that it has an ownership interest in the shipwreck and/or cargo and that they had not legally abandoned the shipwreck, Odyssey would apply for a salvage award from the Admiralty Court. In cases such as this, salvors are typically awarded up to 90% of the recovery.
We do believe that most shipwrecks that we recover, including the "Black Swan", will likely result in claims by other parties. Many will be spurious claims, but we anticipate that there might be some legitimate ones as well. In the case of the "Black Swan", it is the opinion of our legal counsel that even if a claim is deemed to be legitimate by the courts, Odyssey should still receive title to a significant majority of the recovered goods.
6. Why is Odyssey being so "secretive" about the "Black Swan?"
Based on past experience with other shipwrecks, we have found that putting out information about the identity of shipwrecks into the public before we are certain of the identity results in wild speculation about values, ownership rights and scores of other issues. We also believe that it would be an added risk factor to disclose the location of the site because we have publicly stated that we have left a large number of artifacts on the site, and the security risk is obvious.
7. Why haven't you determined the identity of the shipwreck yet? When will you announce the identity?
Determining the identity of a shipwreck is complicated. For example, it would be possible to find a French-built ship, with English cannons, Dutch pottery, Chinese porcelain, Turkish pipes, and Venetian trading beads that had been captured by pirates before it sank. Proving the shipwreck's identity in that case might prove very difficult, if not impossible depending on the research available.
In the best interest of all concerned, we will follow our often-stated policy of announcing what we know about the identity of a shipwreck, only after it's confirmed by research.
8. There have been reports of a partnership between Odyssey Marine Exploration and the Disney organization. Are these true?
We can confirm that Odyssey and the Disney organization have recently entered into a relationship on a number of projects, and that the two companies are in discussions relative to some new partnership opportunities.
We have immense respect for Disney and believe that a combination of Odyssey's authentic deep-ocean adventures coupled with Disney's story-telling, film-making, television and marketing capabilities will reap benefits for both companies, while providing the public with an unprecedented opportunity to enjoy the thrill of deep-ocean exploration.
About Odyssey Marine Exploration Odyssey Marine Exploration is a Publicly Traded US Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, the "Black Swan" project, and the Company's other activities is available at www.shipwreck.net.
For additional information, please contact Natja Igney, Odyssey's Manager of Corporate Communications, at 813-876-1776 ext 2553.
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