| 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 the periods presented due to having an anti-dilutive effect:
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|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Average market price during the period |
|
$ |
1.70 |
|
|
$ |
0.51 |
|
Option awards |
|
|
2,584,574 |
|
|
|
1,388,824 |
|
Unvested restricted stock awards |
|
|
212,000 |
|
|
|
— |
|
Convertible notes |
|
|
— |
|
|
|
5,954,695 |
|
Common Stock Warrant related |
|
|
5,611,909 |
|
|
|
10,727,387 |
|
Equity exchange rights in connection with Mexican Corporate Transaction |
|
|
1,841,137 |
|
|
|
— |
|
|
| 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:
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Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
|
|
|
|
|
Net (loss) income attributable to Odyssey Marine Exploration, Inc. |
|
$ |
347,346 |
|
|
$ |
2,241,570 |
|
Numerator: |
|
|
|
|
|
|
Basic net (loss) income available to stockholders |
|
$ |
347,346 |
|
|
$ |
2,241,570 |
|
Loss on equity method investment |
|
|
— |
|
|
|
(141,414 |
) |
Fair value change of debt instruments |
|
|
(2,410,814 |
) |
|
|
(1,600,826 |
) |
Diluted net (loss) income available to stockholders |
|
$ |
(2,063,468 |
) |
|
$ |
499,330 |
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
Weighted average common shares outstanding – Basic |
|
|
55,788,778 |
|
|
|
29,102,633 |
|
Dilutive effect of options |
|
|
— |
|
|
|
143,570 |
|
Dilutive effect of other derivative instruments |
|
|
— |
|
|
|
129,063 |
|
Dilutive effect of warrants |
|
|
938,778 |
|
|
|
— |
|
Dilutive effect of convertible debt instruments |
|
|
— |
|
|
|
12,241,147 |
|
Weighted average common shares outstanding – Diluted |
|
|
56,727,556 |
|
|
|
41,616,413 |
|
|
|
|
|
|
|
|
Net (loss) income per share: |
|
|
|
|
|
|
Basic |
|
$ |
0.01 |
|
|
$ |
0.08 |
|
Diluted |
|
$ |
(0.04 |
) |
|
$ |
0.01 |
|
|