Treasure hunter Odyssey Marine seeks to salvage troubled finances Aug 7 2015

[G.I.B.]

Tampa Bay Times news article, 8/7/2015 by a columnist in the business section.

Newspaper link

In part states:

The future of Tampa underseas treasure hunter Odyssey Marine Exploration may boil down to this contest. Will its stock price sink faster than the company's ability to raise enough treasure that it says lies in shipwrecks found on the ocean floor?

Lately, Odyssey's falling stock seems to be winning. Shares that traded at a $1 high early this year have shriveled since then, closing Friday at a 2015 low of 33.6 cents.
The company said it lost just over $6 million in the quarter ended June 30, diving deeper into the red from the $4 million in losses reported in the same period of 2014. Revenue in the just-completed quarter was just $444,000 — mostly from the sale of salvaged coins — up slightly from $348,000 a year ago.

 

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[JOe L]

Hopefully something comes their way, I really hope so.

 

[ARC]

Odyssey reported to the SEC that it faces doubts over remaining a "going concern."
That status was not clear in the original coverage.

 

[The Rebel]

Very sad, as I invested in them at $3.44 @ 300 shares..... With all the loot they find I don't get why they lose money.....

 

[s.c.shooter]

Wow! That sucks!

 

[Simon1]

Issues like this are not all that uncommon are they ? The high cost of operating expenses, then when you actually locate something, you may wait years to get all the proper paperwork all the while you keep incurring expenses. I heard they were selling off items they had not planned on, as well as now going after the lesser finds they have just to keep afloat, ( no pun intended ).

 

[ou8acracker2]

It is all about the small time guys finding stuff. If you have no overhead - even a few coins could pay for the season.

 

[capt dom]

Tampa Bay Times news article, 8/7/2015 by a columnist in the business section.

Newspaper link

In part states:

The future of Tampa underseas treasure hunter Odyssey Marine Exploration may boil down to this contest. Will its stock price sink faster than the company's ability to raise enough treasure that it says lies in shipwrecks found on the ocean floor?

Lately, Odyssey's falling stock seems to be winning. Shares that traded at a $1 high early this year have shriveled since then, closing Friday at a 2015 low of 33.6 cents.
The company said it lost just over $6 million in the quarter ended June 30, diving deeper into the red from the $4 million in losses reported in the same period of 2014. Revenue in the just-completed quarter was just $444,000 — mostly from the sale of salvaged coins — up slightly from $348,000 a year ago.

Stock swings can be entertaining..... Especially if at one time you had quite a bit of "lettered" stock.... which is no longer restricted in trading... A little bit of publicity can cause a big stock swing.... BAM.... sell some stock and make some money.... With all due respect .... some of the folks at Odyssey have gotten quite good at this.
One has to adapt to survive...