The 3q 2012 10q is very clear that OMEX received reimbursement for its search, recovery and processing expenses before the 80/20 split. It amounted to 17.8mmin 3q last year. This was inflated as it was the first recovery so more than 2012 expenses were included. The SBW is reimbursed. Sun and simple. Amazing these things are debated here.
This is a tactic that was used by "integral's" (he's also gone by guardianofhistory, garscrappa, smithvi2003, deepworkerz, and many more) old anti-Odyssey group known as HHI. Several of their members were involved in a clear attempt on this board to manipulate opinion, distort the truth, and outright lie about Odyssey, its management and projects. Even OMEX's founders' family members were considered fair game, for some truly vile and despicable posts. One of HHI's founders was actually sued by the company and his day of reckoning was avoided by filling a spectacular bankruptcy highlighted by $225,000 worth of credit card debt.
HHI imploded soon after and has since been wiped away like a minor spill.
Smitty, as he's known here to longs, picked up the dregs and has kept at attacking the company for what can only be concluded are highly personal reasons. In the past, he has claimed he was on the verge of a couple "revolutionary" inventions he said would change the underwater exploration business. His constant presence speaks to that outcome.
I'm frankly surprised that Odyssey hasn't gone after him. There's certainly plenty of evidence over the years to show a clear and coordinated effort to damage Odyssey's reputation and the share price. And he should know better than most that anonymity didn't protect his colleague from being sued, when it was revealed just how many aliases he had at the time (they numbered around 30, if I remember correctly). All were easily traced back to his ISP.
I suppose he could think that since he has nothing to lose, why not? But a judgement could garnish future earnings should Odyssey choose to go that route. I really wish they'd consider it because this guy is a raging cancer on this board and he's clearly out to damage the company, its reputation, and stock price. It doesn't matter whether he's successful or not at it, only that he's been doing it for many years now. Anyway, some background for you!