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Odyssey Marine Exploration Inc. Message Board

  • cliffbanger86 cliffbanger86 Jul 22, 2013 5:13 PM Flag

    Still waiting Garscrappa...How is the G breakeven?

    You can use $77MM as the total revenue from the sale of silver for the two years. Please inform us using actual numbers from last year in the SEC filings and projected numbers for expenses this year how you believe the g was breakeven for OMEX? We are all ready.

    Sentiment: Buy

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    • I think the real question, and possibly the reason the stock sold off today, is " how much money is OMEX going to have when all is said, and done and when are they are going to get some more?" They will probably have a tidy sum ( I'll guess $24M with the Mantola) but I believe they will need to plow virtually all of that into their future projects relatively quickly. It is conceivable that they don't report any profit at all for this year or even next year. We really have no idea what specific future projects are planned and what kind of revenue they will bring in, Commodity recovery will probably bring in incremental revenue after expenses, If this proves profitable It will, pay the bills while the big projects drag on The odds of the Victory having gold on board (and of Odyssey getting any of it next year) are only slightly higher than the odds there is still uninsured silver on the G. right? It is a wonderful project, but it may not be a giant windfall. They can sell off more parts of Oceania if they choose, and I am sure they are also going to announce plans for other treasure recovery efforts, but those projects can take a very long time to pan out, and many times they don't pan out at all. So by this time next year Odyssey could be in a situation like they were this Spring, all ready to go on missions that they HOPE bring them a lot of money but if they don't the company would be in real financial straits.

      That said, I hope to be able to add more shares this week

      Sentiment: Strong Buy

    • I can answer that for you. He used a negative number for "good will" on his balance sheet!!

      • 3 Replies to quickdrawhawk
      • Seeking clarification please. From the G & M, Odyssey receives 80% after expenses. All recent posts detailing G profits show Odyssey paying for the SBW charter and thus subtracted from their final profits. Is this correct? Why wouldn't the SBW charter costs be considered an expense obligation to Britain vs Odyssey?

      • That is the best you have?
        G and M project costs (that you are aware of)=$77MM-($22.5 GALT)-$3MM (refining costs)-$20MM (for SW)-$15MM (20% for HMG)-$16MM (Ocean Explorer cost for 8 months search)-(Cost of buying location)-$??MM(Cost of the 2 vessel charters for the search (for 2 years))-$???(OMEX administrative costs).

        The only 'hedge' was likely the $15 million from hocking the silver to First Fifth, that 'loan' fixed the price at that time.

        Are you really stupid enough to believe that this find will not be buried in the debts of the years of searching, admin costs, and the amounts due to GALT, banks, and all of the Odyssey subsidiaries?

      • When the Gairsoppa project was first announced, old Smitty (garscrappa II -- his first one was deleted by Yahoo for legal reasons) told everyone, every day, that Odyssey would "never" find an ounce of silver.

        A few months later, they did just that, hauling in 40 tons worth.

        He then said repeatedly they'd "never" find another ounce of silver, and even argued Odyssey was purposely misleading investors by saying they were going back to what he claimed was an empty shipwreck.

        Yet, just a few days ago, they pulled into port with the remainder of the insured silver -- or, 99 percent of the total amount lost.

        And now?

        Well, surprise, surprise: now he wants to tell everyone that Odyssey won't make any money from the deal.

        See how that works? First he says they won't recover anything, and when they do, the entire amount, he says they won't profit from it. (As if his daily routine of posting here doesn't already speak highly enough of his business acumen,)

        You see, there's reality, then there's Smitty reality, which comes from the dark uninformed netherworld of his Godforsaken poop deck.

        This is what he does. This is all he does. It's why Odyssey is on the Today Show, and he's on a mugshot for crimes against humanity.

        Simple as that.

    • Do you own DD.

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