Home / Going-concern warnings / ODYSSEY MARINE EXPLORATION INC
Filed 2025-08-19 路 Form 10-Q 路 Accession 0000950170-25-110072 nano
Price before filing: $1.49 (2025-08-18 close, split/dividend-adjusted)
Market cap at flag: $41.8M (2025-08-19) 路 Latest: $37.5M (2026-10-16)
| Window | OMEX | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +17.4% | +2.9% | +14.5% | 2025-09-18 |
| 90 days | +22.1% | +3.8% | +18.4% | 2025-11-17 |
| 180 days | +8.1% | +6.8% | +1.3% | 2026-02-17 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $1.7M (3 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-07-17 | Cortina Gallardo Juan Antonio Carlos 10% owner | Sale | 96,409 | $1.70 | $164K | no | Form 4 |
| 2025-07-18 | Cortina Gallardo Juan Antonio Carlos 10% owner | Sale | 473,591 | $1.72 | $817K | no | Form 4 |
| 2025-07-22 | Cortina Gallardo Juan Antonio Carlos 10% owner | Sale | 409,100 | $1.70 | $697K | no | Form 4 |
| 2025-08-19: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-21 to 2025-09-18. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"The factors noted above raise substantial doubt about our ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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