Odyssey treasure will go to Spain!

[AUVnav]

Well, that may be the case.

Here is the issue, with all of the concerns brought up, do you feel that the Directors of Odyssey, a publically traded company, have the shareholders best interest in mind? It isnt about treasure hunting, its about an investment, and the responsibility to shareholders.

As I brought up before, this is an opinion which was negative, but there are plenty of positive opinions out there. Even after the price hit $1.85 2 days ago, Hallum reiterated a $7 value and a strong buy, why dont you consider suing them??

What is the net after they have spent over $200 million in the last 5 years? It certainly isnt any profit, historical data or archaeology, little of any of that to be had. Self published coffee table books dont count for much.

I wonder what many of the posters on this board could have done with $200 million to fund search/recovery?

 

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[Au_Dreamers]

Perhaps you should look at some of the content and questions posed in the report.

As far as filing a lawsuit, the report is an opinion, which is negative, what about all of the opinions that were positive with prices such as $7/share? Would you sue them for their opinion and reasoning?

You can also note the recent trial of Mark Cuban, in which he was found not guilty.

I dont think the board needs to be reminded of the 'success' they had in Court with the Mercedes or DivingDoc.

You're not even comparing apples to oranges, you've completely missed the mark.

Nobody sues for positive things they sue for negative things, they sue for someone/some entity that "inhibits their ability to sell stock", just ask Reefdawg... that is the reference of posting slander on the internet.

Also as noted above I don't put much professionalism on a company that writes a "professional" reports that states "they believe"...

Is Meson Capital the pot calling the kettle black?
http://seekingalpha.com/article/172...-even-with-high-oil-prices?source=google_news

http://www.sec.gov/Archives/edgar/data/1309082/000158069513000037/lucas8k090613.htm

http://seekingalpha.com/article/174...nergy-is-worth-3-per-share?source=google_news

 

[MORE AND BEYOND OSSY]

More good news for investors ! Greg would make a good car sales person
Odyssey Marine Exploration Inc (OMEX): Investigative Report Questions Odyssey Marine's New Offshore Subsidiaries And Undersea Mining - Seeking Alpha

 

[old man]

More good news for investors ! Greg would make a good car sales person
Odyssey Marine Exploration Inc (OMEX): Investigative Report Questions Odyssey Marine's New Offshore Subsidiaries And Undersea Mining - Seeking Alpha

Odyssey Marine's Open Letter to the Garbage that Melson Captial put out in their Bias Report.
The SEC should shut down Companies like Melson Captial.
Odyssey Marine Exploration Inc (OMEX): Odyssey Marine: An Open Letter To Ryan Morris Of Meson Capital - Seeking Alpha

 

[Au_Dreamers]

Self published coffee table books dont count for much.

I actually think they count for a heckuva lot more than peer documents that the general public never gets to see!

 

[AUVnav]

So, you only feel that analysis that shows the stock is valued at less than currently trading should be litigated against, but that one that shows it is worth more than currently trading is okay?

 

[G.I.B.]

Here is an article in today's Tampa Bay Times.

[h=1]Odyssey Marine posts $900,000 third quarter loss[/h]Click THIS

In part: Tampa treasure hunting firm Odyssey Marine Exploration ended the third quarter of 2013 with a net loss of $900,000, the result of one-time costs related to a court ruling against the firm.

The third-quarter loss of 1 cent per share was down from net income of 5 cents, or $3.8 million, during the same period a year ago.
For the first nine months of this year, Odyssey lost $21.5 million, compared with a $17.3 million loss during the first nine months of 2012.

 

[Salvor6]

You forgot the good part Larry:

Odyssey anticipates ending 2013 with more than $30 million in cash to fund its exploration and recovery projects in 2014.
"Our company has never had better visibility on potential results from shipwreck cargo recovery operations than we do now," said Mark Gordon, Odyssey's president and chief operating officer. "We can look three or more years into the future with confidence in our commodity recovery plans. We have … data on the shipwrecks, our rights are secured under contract, and we do not foresee any regulatory or legal issues."

Odyssey could make more than $3 billion in profit next year. Why doesn't Meson Capitol mention that?

 

[Au_Dreamers]

So, you only feel that analysis that shows the stock is valued at less than currently trading should be litigated against, but that one that shows it is worth more than currently trading is okay?

Well gee let me ponder this a little, slander can cost lots of $$$ in a lawsuit but praise doesn't. Not my rules...

Reading the links I posted one can see clearly whom the stock manipulators are.

 

[G.I.B.]

You forgot the good part Larry:

I sincerely hope they do well.

I'm just passing on the news article for any interested persons.

If I had a wad of extra cash laying around, I would probably buy a few shares.

 

[AUVnav]

Odyssey anticipates ending 2013 with more than $30 million in cash to fund its exploration and recovery projects in 2014.

I am sure they do, unfortunately, they are on track to lose over $30 million this year.

Odyssey could make more than $3 billion in profit next year. Why doesn't Meson Capitol mention that?

I cant imagine any reason why that was not mentioned. In fact, I can imagine any rational person, after looking at a Company that has lost $200 million, and continues to lose money every year, why you would think they would make $3 BILLION next year.

Did you read the Court ruling on the Mercedes and why they were fined $1.1 MILLION dollars?

You are exactly the investor Stemm has targeted.

Of course, you may have not looked at the shareprice, but the stockmarket has decided that it is worth $2. (with a book value of -0.02 per share) (Note that over 16 MILLION shares are held short, meaning those investors dont feel its even worth $2)

Good luck!

 

[Jolly Mon]

I cant imagine any reason why that was not mentioned. In fact, I can imagine any rational person, after looking at a Company that has lost $200 million, and continues to lose money every year, why you would think they would make $3 BILLION next year.

You mean like Twitter ?? A company that has lost money every year of its 6 year existence ??

Twitter lost $67 million in 2010
$164 million in 2011
and $79 million in 2012

And they have already lost over $69 million in the first 6 months of this year.

Yet their initial IPO was at $26.00 a share and they closed at $ 42.60 today.

by your ludicrous reasoning, Twitter's CEO and board should be sued for offering their stock at $26.00. After all, they have never shown a profit and have lost way more than $200 million.

An individual equity like OMEX is, obviously, a high risk investment. It is the nature of the business.

The market may be a little volatile for you. You probably should stick to something a little safer...like the .0001% interest you might get with a savings account.

 

[AUVnav]

Since it appears you have not read the ruling, here are some highlights.

"Odyssey went where it went because it knew full well where to go; Odyssey found what it found because it knew full well what it was looking for; Odyssey withheld and deceived and deflected with respect to what it found because Odyssey knew full well why Spain was asking and knew full well the adverse consequence to Odyssey’s financial aspirations if Spain discovered the answer. To come to court and deny the truth of these facts is, as stated earlier, an unacceptable enormity propounded and maintained in bad faith and for an improper purpose."

"Spain’s objection (Doc. 344) is SUSTAINED IN PART and Spain’s motion (Doc. 321) is GRANTED IN PART. Accordingly, for bad faith and abusive litigation Odyssey is assessed $875,022.75, which equals only a half of two-thirds of Spain’s attorney’s fees incurred in the district court before February 10, 2012. For bad faith and abusive litigation, Odyssey is assessed an additional $39,855, which equals only a half of two-thirds of the costs and expenses (reduced by 20%) incurred by Spain before February 10, 2012 (that is, one-half of two-thirds of each of $79,510 for 2008; $18,834.20 for 2009; $13,494 for 2010; $5,776 for 2011; and $1,947 through February 10, 2012). As detailed above and as recommended by the magistrate judge, for contempt Odyssey is assessed $152,102 for events after February 10, 2012 ($71,803 for February 10, 2012, through March 20, 2012; $34,220 for March 21, 2012, through June 8, 2012; and $46,079 in seeking sanctions)."

Perhaps my favorite, the Judges footnote:

"However, as I painstakingly review this record over several days and write this somewhat lengthy and (for me) uncomfortable but necessary post-judgment, post-appeal order and because I recognize that this order will receive a spirited attack from the offender and will absorb additional and detailed attention from judges on the circuit court of appeals (who will be no happier than I at the prospect of resolving a sanction issue),
I wonder if the public, like Spain, is not, after all, entitled to an increment of compensation for the elongation of these proceedings owing to Odyssey’s ungoverned quest for so many pieces of silver."

Case 8:07-cv-00614-SDM-MAP Document 364 Filed 09/25/13

 

[MORE AND BEYOND OSSY]

I still can remember the smirk on Greg face when he was hiding out in Gibraltar waiting for them to strip all the evidence of the ship, thinking no one could stop him.
I like to see his face now

 

[AUVnav]

"Mindful that this order involves sanctions for contempt, for multiplication of proceedings under 18 U.S.C. § 1927, and for bad faith litigation, I carefully considered the applicable procedural protections to which each party is entitled. Because of the filing of, and the hearing on, the parties’ respective objections to the magistrate judge’s report and recommendation, each party has presented fully the argument respecting each issue addressed in this order. Nonetheless, on September 16 and September 18, 2013, I conferred with the parties in an on-the-record telephone conference and
offered each party the opportunity for a further hearing on any or all issues. Confident that the record is complete and the issues developed, EACH PARTY explicitly waived any further hearing in the district court on the matters addressed in the parties’ papers and in this order. In reliance on that waiver, I resolved the pending issues without further hearing (which I otherwise would have granted for the asking, even if not required). "

Note the capital of EACH PARTY. Odyssey had the chance to have a hearing on the matters, yet waived that chance.

After the ruling Stemm seems that he just could not help himself...

""Although the award is only one-third of the amount requested by Spain, it's disappointing that the court was apparently swayed by statements presented by Spain's witnesses during the merits portion of the case that we believe could have been proven false during cross examination of those witnesses in a trial," commented Greg Stemm, Odyssey chief executive officer."

 

[want2skydive]

I still can remember the smirk on Greg face when he was hiding out in Gibraltar waiting for them to strip all the evidence of the ship, thinking no one could stop him.
I like to see his face now

Won't this lead to the next time someone finds a ship with any "minerals" worth finding they will melt down your "history" and sell it for the going price?

 

[old man]

Won't this lead to the next time someone finds a ship with any "minerals" worth finding they will melt down your "history" and sell it for the going price?

I think a lot of people may feel that way. Have a nice Christmas. I used to love jumping out of a perfectly good airplane too.

 

[MORE AND BEYOND OSSY]

Won't this lead to the next time someone finds a ship with any "minerals" worth finding they will melt down your "history" and sell it for the going price?

LOL Is there a difference between selling historical coins and melting them down ?? It's all about money , no morals here !

 

[old man]

LOL Is there a difference between selling historical coins and melting them down ?? It's all about money , no morals here !

Apparently Spain only thinks about the money. I've yet to see them claim a Spanish shipwreck that only had artifacts that did not consist of non ferrous metal on them in the USA or else where.

 

[want2skydive]

LOL Is there a difference between selling historical coins and melting them down ?? It's all about money , no morals here !

I believe there is. But I guess it depends on who you are selling or possibly donating them to. Contrary to what some may think there are still people that consider the historical value of the objects not just the price. But after this if I am ever lucky enough to find Peruvian eerrr... I mean Spanish gold, into the melting crucible it goes.