Odyssey Marine Exploration (OMEX) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 29, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	OMEX
Entity Registrant Name	ODYSSEY MARINE EXPLORATION INC
Entity Central Index Key	798,528
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,388,821

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 1,476,693	$ 1,662,643
Restricted cash	10,000	10,000
Accounts receivable and other, net	285,378	473,806
Other current assets	224,436	609,462
Total current assets	1,996,507	2,755,911
PROPERTY AND EQUIPMENT
Equipment and office fixtures	16,738,898	17,188,699
Marine asset held for sale		416,329
Accumulated depreciation	(15,815,735)	(15,809,774)
Total property and equipment	923,163	1,795,254
NON-CURRENT ASSETS
Other non-current assets	532,500	532,500
Total non-current assets	532,500	532,500
Total assets	3,452,170	5,083,665
CURRENT LIABILITIES
Accounts payable	1,484,376	1,397,347
Accrued expenses and other	5,713,085	5,078,125
Loans payable	21,609,440	20,731,807
Total current liabilities	28,806,901	27,207,279
LONG-TERM LIABILITIES
Loans payable	3,000,000	4,335,501
Revenue participation rights	4,643,750	4,643,750
Total long-term liabilities	7,643,750	8,979,251
Total liabilities	36,450,651	36,186,530
Commitments and contingencies (NOTE G)
STOCKHOLDERS' EQUITY/(DEFICIT)
Preferred stock	0	0
Common stock - $.0001 par value; 75,000,000 shares authorized; 8,388,821 and; 7,718,366 issued and outstanding for each period end presented	839	772
Additional paid-in capital	211,731,546	207,962,346
Accumulated deficit	(231,066,586)	(226,950,436)
Total stockholders' equity/(deficit) before non-controlling interest	(19,334,201)	(18,987,318)
Non-controlling interest	(13,664,280)	(12,115,547)
Total stockholders' equity/(deficit)	(32,998,481)	(31,102,865)
Total liabilities and stockholders' equity/(deficit)	$ 3,452,170	$ 5,083,665

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	24,984,166	24,984,166
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	8,388,821	7,718,366
Common stock, shares outstanding	8,388,821	7,718,366

Consolidated Statements of Oper

Consolidated Statements of Operations - Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
REVENUE
Recovered cargo sales and other				$ 4,667
Expedition	$ 587,270	$ 1,217,318	$ 1,236,623	1,795,128
Total revenue	587,270	1,217,318	1,236,623	1,799,795
OPERATING EXPENSES
Marketing, general and administrative	1,749,601	1,937,523	3,379,556	4,317,839
Operations and research	900,799	1,293,803	2,203,315	3,493,794
Total operating expenses	2,650,400	3,231,326	5,582,871	7,811,633
INCOME (LOSS) FROM OPERATIONS	(2,063,130)	(2,014,008)	(4,346,248)	(6,011,838)
OTHER INCOME (EXPENSE)
Interest expense	(664,735)	(596,287)	(1,379,631)	(930,347)
Change in derivative liabilities fair value		61,051		3,398,525
Other	21,335	9,652	60,998	391,630
Total other income (expense)	(643,400)	(525,584)	(1,318,633)	2,859,808
(LOSS) BEFORE INCOME TAXES	(2,706,530)	(2,539,592)	(5,664,881)	(3,152,030)
Income tax benefit (provision)	0	0	0	0
NET (LOSS) BEFORE NON-CONTROLLING INTEREST	(2,706,530)	(2,539,592)	(5,664,881)	(3,152,030)
Non-controlling interest	789,645	680,814	1,548,733	1,377,897
NET (LOSS) INCOME	$ (1,916,885)	$ (1,858,778)	$ (4,116,148)	$ (1,774,133)
NET (LOSS) PER SHARE
Basic and diluted (See NOTE B)	$ (0.23)	$ (0.25)	$ (0.51)	$ (0.24)
Weighted average number of common shares outstanding
Basic	8,322,512	7,544,345	8,022,108	7,542,728
Diluted	8,322,512	7,544,345	8,022,108	7,542,728

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - Unaudited - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss before non-controlling interest	$ (5,664,881)	$ (3,152,030)
Adjustments to reconcile net loss to net cash (used) by operating activities:
Depreciation and amortization	431,419	598,197
Director fees settled with equity instruments		18,415
Accrued interest converted into common stock	302,274
Gain on sale of equipment	(289,328)	(125,991)
Financed lender fees		50,000
Change in derivatives liabilities fair value		(3,398,525)
Note payable interest accretion	242,132	87,525
Share-based compensation	416,993	692,501
Deferred revenue		(383,148)
(Increase) decrease in:
Accounts receivable	218,428	(798,345)
Other assets	385,023	(120,717)
Increase (decrease) in:
Accounts payable	87,029	(279,199)
Accrued expenses and other	915,832	1,512,776
NET CASH (USED) BY OPERATING ACTIVITIES	(2,955,079)	(5,298,541)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of property and equipment	50,000	200,000
Purchase of property and equipment		(58,821)
NET CASH PROVIDED BY INVESTING ACTIVITIES	50,000	141,179
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of notes payable	3,000,000	4,825,000
Repayment of mortgage and loans payable	(280,871)	(76,789)
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,719,129	4,748,211
NET (DECREASE) IN CASH	(185,950)	(409,151)
CASH AT BEGINNING OF PERIOD	1,662,643	2,241,317
CASH AT END OF PERIOD	1,476,693	1,832,166
SUPPLEMENTARY INFORMATION:
Interest paid	210,508	718,722
Income taxes paid	$ 0	$ 0

Consolidated Statements of Cas6

Consolidated Statements of Cash Flows - Unaudited (Parenthetical) - USD ($)	Apr. 10, 2017	Mar. 21, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Cash proceeds from sale of vessel					$ 50,000	$ 200,000
Loans payable			$ 24,609,440		24,609,440		$ 25,067,308
Marine Vessel [Member]
Cash proceeds from sale of vessel			650,000
Loans payable			650,000		$ 650,000
Epsilon Acquisitions, LLC [Member]
Accrued interest			83,151	$ 78,547
Epsilon Acquisitions, LLC [Member] | Notes Payable, Other Payables [Member]
Conversion of Notes			3,050,000
Accrued interest			$ 302,274
Conversion of stock, shares Issued	670,455	670,455	670,455
Other Receivables [Member] | Epsilon Acquisitions, LLC [Member] | Notes Payable, Other Payables [Member]
Cash proceeds from sale of vessel			$ 30,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE A – BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Odyssey Marine Exploration, Inc. and subsidiaries (the “Company,” “Odyssey,” “us,” “we” or “our”) have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission and the instructions to Form 10-Q and, therefore, do not include all information and footnotes normally included in financial statements prepared in accordance with generally accepted accounting principles. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. In the opinion of management, these financial statements reflect all adjustments, including normal recurring adjustments, necessary for a fair presentation of the financial position as of June 30, 2017 and the results of operations and cash flows for the interim period presented. Operating results for the six-month period ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year. Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, or ASU 2014-09, which establishes a comprehensive revenue recognition standard under GAAP for almost all industries. The new standard will apply for annual periods beginning after December 15, 2017, including interim periods therein. Early adoption is prohibited. Based on management’s review of this new standard along with the substance of our transactions, management is of the position this standard will not have a material impact on our financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases, which establishes a comprehensive lease standard under GAAP for virtually all industries. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. A lessee is also required to record a right of use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales type leases, direct financing leases and operating leases. The new standard will apply for annual periods beginning after December 15, 2018, including interim periods therein, and requires modified retrospective application. Early adoption is permitted. Based on management’s current understanding of this new standard along with the underlying substance of our operations, management believes it will not have a material impact on our financial statements. Other recent accounting pronouncements issued by the FASB, the AICPA and the SEC did not or are not believed by management to have a material effect, if any, on the Company’s financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies of the Company is presented to assist in understanding our financial statements. The financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity and have prepared them in accordance with our customary accounting practices. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its direct and indirect wholly owned subsidiaries, both domestic and international. Equity investments in which we exercise significant influence but do not control and of which we are not the primary beneficiary are accounted for using the equity method. All significant inter-company and intra-company transactions and balances have been eliminated. The results of operations attributable to the non-controlling interest are presented within equity and net income, and are shown separately from the Company’s equity and net income attributable to the Company. Some of the existing inter-company balances, which are eliminated upon consolidation, include features allowing the liability to be converted into equity of a subsidiary, which if exercised, could increase the direct or indirect interest of the Company in the non-wholly owned subsidiaries. Use of Estimates Management uses estimates and assumptions in preparing these consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were used. Revenue Recognition and Accounts Receivable In accordance with Topic A.1. in SAB 13: Revenue Recognition, marine services expedition charter revenue is recognized ratably when realized and earned as time passes throughout the contract period as defined by the terms of the agreement. Expenses related to the marine services expedition charter revenue (also referred to as “marine services” revenue) are recorded as incurred and presented under the caption “Operations and research” on our Consolidated Statements of Operations. Bad debts are recorded as identified and, from time to time, a specific reserve allowance will be established when required. A return allowance is established for sales that have a right of return. Accounts receivable is stated net of any recorded allowances. Cash and Cash Equivalents Cash, cash equivalents and restricted cash include cash on hand and cash in banks. We also consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. We have $10,000 of restricted cash for collateral related to a corporate credit card program. Long-Lived Assets Our policy is to recognize impairment losses relating to long-lived assets in accordance with the Accounting Standards Codification (“ASC”) topic for Property, Plant and Equipment. Decisions are based on several factors, including, but not limited to, management’s plans for future operations, recent operating results and projected cash flows. Impairment losses are included in depreciation at the time of impairment. Property and Equipment and Depreciation Property and equipment is stated at historical cost. Depreciation is calculated using the straight-line method at rates based on the assets’ estimated useful lives which are normally between three and thirty years. Leasehold improvements are amortized over their estimated useful lives or lease term, if shorter. Major overhaul items (such as engines or generators) that enhanced or extended the useful life of vessel related assets qualified to be capitalized and depreciated over the useful life or remaining life of that asset, whichever was shorter. Certain major repair items required by industry standards to ensure a vessel’s seaworthiness also qualified to be capitalized and depreciated over the period of time until the next scheduled planned major maintenance for that item. All other repairs and maintenance were accounted for under the direct-expensing method and are expensed when incurred. The smaller vessel we received as consideration when we sold our Odyssey Explorer Earnings Per Share See NOTE I regarding our 1-for-12 reverse stock split. Share related amounts have been retroactively adjusted in this report to reflect this reverse stock-split for all periods presented. Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. In periods when the Company has income, the Company would calculate basic earnings per share using the two-class method, if required, pursuant to ASC 260 Earnings Per Share. Diluted EPS reflects the potential dilution that would occur if dilutive securities and other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. We use the treasury stock method to compute potential common shares from stock options and warrants and the if-converted method to compute potential common shares from preferred stock, convertible notes or other convertible securities. For diluted earnings per share, the Company uses the more dilutive of the if-converted method or two-class method. When a net loss occurs, potential common shares have an anti-dilutive effect on earnings per share and such shares are excluded from the diluted EPS calculation. At June 30, 2017 and 2016, the weighted average common shares outstanding year-to-date were 8,022,108 and 7,542,728, respectively. For the periods in which net losses occurred, all potential common shares were excluded from diluted EPS because the effect of including such shares would be anti-dilutive. The potential common shares in the following tables represent potential common shares calculated using the treasury stock method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS: Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Average market price during the period $ 3.58 $ 3.08 $ 3.90 $ 3.35 In the money potential common shares from options excluded 5,315 4,089 6,706 4,717 In the money potential common shares from warrants excluded 2,010 — 11,691 — Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS: Three Months Ended Six-Months Ended Per share June 30, June 30, June 30, June 30, Out of the money options excluded: $ 3.59 7,521 — — — $ 12.48 137,666 137,666 137,666 137,666 $ 12.84 4,167 4,167 4,167 4,167 $ 26.40 75,158 75,794 75,158 75,794 $ 32.76 — 53,707 — 53,707 $ 34.68 73,765 74,265 73,765 74,265 $ 39.00 8,333 8,333 8,333 8,333 $ 41.16 833 833 833 833 $ 42.00 8,333 8,333 8,333 8,333 $ 46.80 1,667 1,667 1,667 1,667 Out-of-the-money warrants excluded: $ 43.20 — 130,208 — 130,208 Total excluded 317,443 494,973 309,922 494,973 The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Potential common shares from unvested restricted stock awards excluded from EPS 238,921 88,096 238,921 88,096 The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Net income (loss) $ (1,916,885 ) $ (1,858,778 ) $ (4,116,148 ) $ (1,774,133 ) Numerator, basic and diluted net income (loss) available to stockholders $ (1,916,885 ) $ (1,858,778 ) $ (4,116,148 ) $ (1,774,133 ) Denominator: Shares used in computation – basic: Weighted average common shares outstanding 8,322,512 7,544,345 8,022,108 7,542,728 Common shares outstanding for basic 8,322,512 7,544,345 8,022,108 7,542,728 Shares used in computation – diluted: Common shares outstanding for basic 8,322,512 7,544,345 8,022,108 7,542,728 Shares used in computing diluted net income per share 8,322,512 7,544,345 8,022,108 7,542,728 Net (loss) per share – basic $ (0.23 ) $ (0.25 ) $ (0.51 ) $ (0.24 ) Net (loss) per share – diluted $ (0.23 ) $ (0.25 ) $ (0.51 ) $ (0.24 ) Income Taxes Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is provided when it is more likely than not that some portion or the entire deferred tax asset will not be realized. Stock-based Compensation Our stock-based compensation is recorded in accordance with the guidance in the ASC topic for Stock-Based Compensation Fair Value of Financial Instruments Financial instruments consist of cash, evidence of ownership in an entity, and contracts that both (i) impose on one entity a contractual obligation to deliver cash or another financial instrument to a second entity, or to exchange other financial instruments on potentially unfavorable terms with the second entity, and (ii) conveys to that second entity a contractual right (a) to receive cash or another financial instrument from the first entity, or (b) to exchange other financial instruments on potentially favorable terms with the first entity. Accordingly, our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, derivative financial instruments and mortgage and loans payable. We carry cash and cash equivalents, accounts payable and accrued liabilities, and mortgage and loans payable at the approximate fair market value, and, accordingly, these estimates are not necessarily indicative of the amounts that we could realize in a current market exchange. We carry derivative financial instruments at fair value as is required under current accounting standards. Redeemable preferred stock has been carried at historical cost and accreted carrying values to estimated redemption values over the term of the financial instrument. Derivative financial instruments consist of financial instruments or other contracts that contain a notional amount and one or more underlying variables (e.g., interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value and recorded as liabilities or, in rare instances, assets. See NOTE K for additional information. We generally do not use derivative financial instruments to hedge exposures to cash-flow, market or foreign-currency risks. However, we have entered into certain other financial instruments and contracts with features that are either (i) not afforded equity classification, (ii) embody risks not clearly and closely related to host contracts, or (iii) may be net-cash settled by the counterparty. As required by ASC 815 – Derivatives and Hedging Fair Value Hierarchy The three levels of inputs that may be used to measure fair value are as follows: Level 1. Level 2. Level 3. Redeemable Preferred Stock If we issue redeemable preferred stock instruments (or any other redeemable financial instrument), they are initially evaluated for possible classification as a liability in instances where redemption is certain to occur pursuant to ASC 480 – Distinguishing Liabilities from Equity Subsequent Events We have evaluated subsequent events for recognition or disclosure through the date this Form 10-Q is filed with the Securities and Exchange Commission.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Accounts Receivable	NOTE C – ACCOUNTS RECEIVABLE Our accounts receivable consist of the following: June 30, 2017 December 31, 2016 Trade $ 1,389 $ 2,569,108 Related party 200,970 205,497 Other 83,019 44,930 Reserve allowance — (2,345,729 ) Total accounts receivable, net $ 285,378 $ 473,806 The trade receivable balance at December 31, 2016 consists primarily of a trade receivable from Neptune Minerals, Inc., for which a reserve allowance for the full amount of $2,345,729 has been made for the reported period end. In February 2017, we entered into a debt agreement with SMOM Limited (“SMOM”) for a financing arrangement pursuant to which we assigned this Neptune Minerals, Inc. receivable to SMOM as a commitment fee. Being fully reserved, this Neptune Minerals, Inc. receivable had a carrying value of zero. Monaco and related affiliates owe us $200,970 and $205,497 for the periods ended June 30, 2017 and December 31, 2016, respectively, for support services and marine services rendered on their behalf. See NOTE H for further information regarding Monaco.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	NOTE D – RELATED PARTY TRANSACTIONS In December 2015, we entered into an asset acquisition agreement with Monaco Financial, LLC (“Monaco”). See NOTE S to the consolidated financial statements included in our Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2015 for further information. We had accounts receivable with Monaco and related affiliates at June 30, 2017 and December 31, 2016 of $200,970 and $205,497, respectively. We had operating payables with Monaco at June 30, 2017 and December 31, 2016 of $259,213 and $267,824, respectively. See NOTE H for further debt commitments between the entities. Based on the economic substance of these business transactions, we consider Monaco Financial, LLC to be an affiliated company, thus a related party. We do not own any financial interest in Monaco. We have and expect to perform and complete marine shipwreck search and recovery charter services for this related party from which we will recognize the appropriate revenue. We also lease our corporate office space on an annually renewable basis from Monaco at market rate of $20,080 per month.

Investments In Unconsolidated E

Investments In Unconsolidated Entities	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments In Unconsolidated Entities	NOTE E – INVESTMENTS IN UNCONSOLIDATED ENTITIES Neptune Minerals, Inc. (“NMI”) Our current investment position in NMI consists of 3,092,488 Class B Common non-voting shares and 2,612 Series A Preferred non-voting shares. These preferred shares are convertible into an aggregate of 261,200 shares of Class B non-voting common stock. Our holdings now constitute an approximate 14% ownership in NMI. At December 31, 2016, our estimated share of unrecognized NMI equity-method losses is approximately $21.3 million. We have not recognized the accumulated $21.3 million in our income statement because these losses exceeded our investment in NMI. Our investment has a carrying value of zero as a result of the recognition of our share of prior losses incurred by NMI under the equity method of accounting. We believe it is appropriate to allocate this loss carryforward of $21.3 million to any incremental NMI investment that may be recognized on our balance sheet in excess of zero since the losses occurred when they were an equity-method investment. The aforementioned loss carryforward is based on NMI’s last unaudited financial statements as of December 31, 2016. We do not believe losses NMI may have incurred in 2017 to be material. We do not have any financial obligations to NMI, and we are not committed to provide financial support to NMI. Although we are a shareholder of NMI, we have no representation on the board of directors or in management of NMI and do not hold any Class A voting shares. We are not involved in the management of NMI nor do we participate in their policy-making. Accordingly, we are not the primary beneficiary of NMI and are not required to consolidate NMI. As of June 30, 2017, the net carrying value of our investment in NMI was zero in our consolidated financial statements. Chatham Rock Phosphate, Ltd. During 2012, we performed deep-sea mining exploratory services for Chatham Rock Phosphate, Ltd. (“CRP”) valued at $1,680,000. As payment for these services, CRP issued 9,320,348 ordinary shares to us. During March 2017, Antipodes Gold Limited completed the acquisition of CRP. The surviving entity is now named Chatham Rock Phosphate Limited (“CRPL”). In exchange for our 9,320,348 shares of CRP we received 141,884 shares of CPRL, which represents equity ownership of approximately 1% of the surviving entity. Since CRP was a thinly traded stock and pursuant to guidance per ASC 320: Debt and Equity Securities

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	NOTE F – INCOME TAXES During the six-month period ended June 30, 2017, we generated a federal net operating loss (“NOL”) carryforward of $2.9 million and generated $3.1 million of foreign NOL carryforwards. As of June 30, 2017, we had consolidated income tax NOL carryforwards for federal tax purposes of approximately $157.2 million and net operating loss carryforwards for foreign income tax purposes of approximately $28.3 million. The federal NOL carryforwards from 2005 forward will expire in various years beginning in 2025 and ending through the year 2035. Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to be recovered or settled. We have recorded a net deferred tax asset of $0 at June 30, 2017. As required by the Accounting for Income Taxes The increase in the valuation allowance as of June 30, 2017 is due to the generation of approximately $4.1 million in net operating loss year-to-date. The change in the valuation allowance is as follows: June 30, 2017 $ 70,515,931 December 31, 2016 69,481,041 Change in valuation allowance $ 1,034,890 Our estimated annual effective tax rate as of June 30, 2017 is 25.14% while our June 30, 2017 effective tax rate is 0.0% because of the full valuation allowance. We have not recognized a material adjustment in the liability for unrecognized tax benefits and have not recorded any provisions for accrued interest and penalties related to uncertain tax positions. The earliest tax year still subject to examination by a major taxing jurisdiction is 2013.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE G – COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company may be subject to a variety of claims and suits that arise from time to time in the ordinary course of business. We are currently not a party to any litigation. Contingency During March 2016, our Board of Directors approved the grant and issuance of 3.0 million new equity shares of Oceanica Resources, S.R.L. to two attorneys for their future services. This equity is only issuable upon the Mexican’s government approval of the Environmental Impact Assessment (“EIA”) for our Mexican subsidiary. This grant of new shares was also approved by the Administrators of Oceanica Resources, S.R.L. We also owe a consultant a contingent success fee of $200,000 upon the approval of the EIA. The EIA has not been approved as of the date of this report. Going Concern Consideration We have experienced several years of net losses and may continue to do so. Our ability to generate net income or positive cash flows for the following twelve months is dependent upon our success in developing and monetizing our interests in mineral exploration entities, generating income from exploration charters, collecting on amounts owed to us, and completing the Minera del Norte S.A. de c.v. (“MINOSA”) and Penelope Mining LLC (“Penelope”) equity financing transaction approved by our stockholders on June 9, 2015. On March 24, 2017, we received NASDAQ communication notifying us our market capitalization was below the required minimum of $35.0 million for 30 consecutive days. The notice provided 180 days, or until September 20, 2017, to regain compliance. To regain compliance during this period, the market capitalization of our public common shares must be at least $35.0 million for ten consecutive business days. On August 3, 2017, we met this compliance requirement. Our 2017 business plan requires us to generate new cash inflows to effectively allow us to perform our planned projects. We plan to generate new cash inflows through the monetization of our receivables and equity stakes in seabed mineral companies, financings, syndications or other partnership opportunities. One or more of the planned opportunities for raising cash may not be realized to the extent needed which may require us to curtail our desired business plan until we generate additional cash. In May 2017, we entered into a loan agreement with SMOM for $3.0 million, of which all $3.0 million has been received, see NOTE H. On March 11, 2015, we entered into a Stock Purchase Agreement with MINOSA and Penelope, an affiliate of MINOSA, pursuant to which (a) MINOSA agreed to extend short-term, debt financing to Odyssey of up to $14.75 million, and (b) Penelope agreed to invest up to $101 million over three years in convertible preferred stock of Odyssey. The equity financing is subject to the satisfaction of certain conditions, including the approval of our stockholders which occurred on June 9, 2015, and MINOSA and Penelope are currently under no obligation to make the preferred share equity investments. (See Management’s Discussion and Analysis of Financial Condition and Results of Operations—Financings.) See NOTE H for further detail on MINOSA related debt. Even though we executed the above noted financing arrangements, Penelope must purchase the shares for us to be able to complete the equity component of the transaction. The Penelope equity transaction is heavily dependent on the outcome of our subsidiary’s application approval process for an environmental permit to commercially develop a mineralized phosphate deposit off the coast of Mexico. We pledged the majority of our remaining assets to MINOSA, and its affiliates, and to Monaco Financial LLC, leaving us with few opportunities to raise additional funds from our balance sheet. If cash inflow is not sufficient to meet our desired projected business plan requirements, we will be required to follow a contingency business plan which is based on curtailed expenses and fewer cash requirements. Our consolidated non-restricted cash balance at June 30, 2017 was $1.5 million which is insufficient to support operations for the following 12 months. We have a working capital deficit at June 30, 2017 of $26.8 million. Therefore, the factors noted above raise doubt about our ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should we be unable to continue as a going concern.

Loans Payable

Loans Payable	6 Months Ended
	Jun. 30, 2017
Text Block [Abstract]
Loans Payable	NOTE H – LOANS PAYABLE The Company’s consolidated debt consisted of the following at: June 30, 2017 December 31, Note 1 – Monaco 2014 $ 2,800,000 2,800,000 Note 2 – Monaco 2016 1,059,439 1,535,501 Note 3 – MINOSA 14,750,001 14,750,001 Note 4 – Epsilon 3,000,000 5,981,806 Note 5 – SMOM 3,000,000 — $ 24,609,440 $ 25,067,308 Note 1 – Monaco 2014 On August 14, 2014, we entered into a Loan Agreement with Monaco Financial, LLC (“Monaco”), a strategic marketing partner, pursuant to which Monaco agreed to lend us up to $10.0 million. The loan was issued in three tranches: (i) $5.0 million (the “First Tranche”) was advanced upon execution of the Loan Agreement; (ii) $2.5 million (the “Second Tranche”) was issued on October 1, 2014; and (iii) $2.5 million (the “Third Tranche”) was issued on December 1, 2014. The Notes bear interest at a rate equal to 11% per annum. The Notes also contain an option whereby Monaco can purchase shares of Oceanica held by Odyssey (the “Share Purchase Option”) at a purchase price which is the lower of (a) $3.15 per share or (b) the price per share of a contemplated equity offering of Oceanica which totals $1.0 million or more in the aggregate. The share purchase option was not clearly and closely related to the host debt agreement and required bifurcation. On December 10, 2015, these promissory notes were amended as part of the asset acquisition agreement with Monaco. The amendment included the following material changes: (i) $2.2 million of the indebtedness represented by the Notes was extinguished, (ii) $5.0 million of the indebtedness represented by the Notes ceased to bear interest and is only repayable under certain circumstances from certain sources of cash, and (iii) the maturity date on the Notes was extended to December 31, 2017. During March 2016, the maturity date was amended to April 1, 2018 and the purchase price of the Share Purchase Option was re-priced to $1.00 per share. See “Loan Modification (March 2016)” below. The outstanding interest-bearing balance of these Notes was $2.8 million at June 30, 2017 and December 31, 2016, respectively. The book carrying value of the Notes was $2.8 million, all of which is classified as long term. There was no amortization of debt discount recorded for the six months ended June 30, 2017 or June 30, 2016. Note 2 – Monaco 2016 In March 2016, Monaco agreed to lend us an additional $1,825,000. These loan proceeds were received in full during the first quarter of 2016. The indebtedness bears interest at 10.0% percent per year. All principal and any unpaid interest is payable on April 15, 2018. The current outstanding balance is $1,175,000. The indebtedness is convertible at any time until the maturity date into shares of Oceanica held by us at a conversion price of $1.00 per share. Pursuant to this loan and as security for the indebtedness, Monaco was granted a second priority security interest in (a) one-half of the indebtedness evidenced by the Amended and Restated Consolidated Note and Guaranty, dated September 25, 2015 (the “ExO Note”), in the original principal amount of $18.0 million, issued by Exploraciones Oceanicas S. de R.L. de C.V. to Oceanica Marine Operations, S.R.L. (“OMO”), and all rights associated therewith (the “OMO Collateral”); and (b) all technology and assets in our possession or control used for offshore exploration, including an ROV system, deep-tow search systems, winches, multi-beam sonar, and other equipment. The carrying value of this equipment is $0.9 million. We unconditionally and irrevocably guaranteed all obligations of Odyssey and its subsidiaries to Monaco under this loan agreement. As further consideration for the loan, Monaco was granted an option (the “Option”) to purchase the OMO Collateral. The Option is exercisable at any time before the earlier of (a) the date that is 30 days after the loan is paid in full or (b) the maturity date of the ExO Note, for aggregate consideration of $9.3 million, $1.8 million of which would be paid at the closing of the exercise of the Option, with the balance paid in ten monthly installments of $750,000. During the three-months ended, we sold a marine vessel to a related party of Monaco for $650,000. The consideration for this vessel was applied against our loan balance to Monaco in the amount of $650,000. Accounting considerations ASC 815 generally requires the analysis of embedded terms and features that have characteristics of derivatives to be evaluated for bifurcation and separate accounting in instances where their economic risks and characteristics are not clearly and closely related to the risks of the host contract. The option to purchase the OMO Collateral is an embedded feature that is not clearly and closely related to the host debt agreement and thus requires bifurcation. Since the option is out of the money, it has no material fair value as of the inception date or currently. The debt agreement did not contain any additional embedded terms or features that have characteristics of derivatives. However, we were required to consider whether the hybrid contract embodied a beneficial conversion feature (“BCF”). The calculation of the effective conversion amount did result in a BCF because the effective conversion price was less than the market price on the date of issuance, therefore a BCF of $456,250 was recorded. The BCF represents a debt discount which will be amortized over the life of the loan. For the three months ended June 30, 2017 and June 30, 2016, interest expense related to the discount in the amount of $117,716 and $50,472, respectively, was recorded. For the three months ended June 30, 2017 and June 30, 2016, accrued interest in the amount of $29,294 and $45,500, respectively, was recorded. Loan modification (December 2015) In connection with the Acquisition Agreement entered into with Monaco on December 10, 2015, Monaco agreed to modify certain terms of the loans as partial consideration for the purchase of assets. For the First Tranche ($5,000,000 issued on August 14, 2014), Monaco agreed to cease interest as of December 10, 2015 and reduce the loan balance by (i) the cash or other value received from the SS Central America On December 10, 2015, the Monaco call option on $10 million of Oceanica shares held by Odyssey was maintained for the full amount of the original loan amount and was extended until December 31, 2017. The Acquisition Agreement was accounted for as a troubled debt restructuring in accordance with ASC 470-60. As a result of the troubled debt restructuring, the carrying values of the remaining Monaco loans were required to be recorded at their undiscounted future cash flow values, which amounted to $3,449,632. No interest expense was to be recorded going forward. Interest payments in the three months ended March 31, 2016 reduced the carrying value. Loan modification (March 2016) In connection with the $1.825 million loan agreement with Monaco in March 2016, the existing $2.8 million notes were modified. Of the combined total indebtedness of Monaco’s Note 1 and Note 2, Monaco can convert this debt into 3,174,603 shares of Oceanica at a fixed conversion price of $1.00 per share, or $3,174,603. Any remaining debt in excess of $3,174,603 is not convertible. Additionally, the modification eliminated Monaco’s option (“share purchase option”) to purchase 3,174,603 shares of Oceanica stock at a price of $3.15 per share. The modification was analyzed under ASC 480 Distinguishing Liabilities from Equity Step 1 Monaco loans Loan one Forward cash flows: Principal $ 2,800,000 Interest 559,463 Total forward cash flows $ 3,359,463 Present value of forward cash flows $ 2,554,371 Fair value of equity conversion option 1,063,487 Fair value of debt $ 3,617,858 Significant inputs and results arising from the Binomial Lattice process are as follows for the conversion option that is classified in equity after the modification in March 2016: Underlying price on valuation date $1.25 Contractual conversion rate $1.00 Contractual term to maturity 1.82 Years Implied expected term to maturity 1.82 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Risk free rates using zero coupon US Treasury Security rates 0.29% - 0.68% Equivalent market risk adjusted interest rates 0.52% Monaco loans Loan one Forward cash flows: Face value $ 2,800,000 Fair value 3,617,858 Difference (premium)* $ 817,858 * ASC 470-20-25-13 provides that if a convertible debt instrument is issued at a substantial premium, there is a presumption that such premium represents paid in capital. Since the total face amount of the new loans is $2,800,000, we conclude that the $817,858 was substantial and recorded that premium to additional paid-in capital. Step 2 Allocation Derivative liabilities (share purchase options) $ 1,456,825 Monaco Loan (Old Debt) 3,372,844 Monaco Loan (New Debt) (2,800,000 ) APIC (Premium) (817,858 ) Difference to APIC* $ 1,211,811 * The difference between the fair value of the new debt and the sum of the pre-modification carrying amount of the old debt and the share purchase option’s fair value represented a gain on extinguishment. ASC 470-50-40-2 indicates that debt restructuring with a related party may be in essence a capital transaction and as a result the gain upon extinguishment was recognized in additional paid in capital. Note 3 – MINOSA On March 11, 2015, in connection with a Stock Purchase Agreement, Minera del Norte, S.A. de C.V. (“MINOSA”) agreed to lend us up to $14.75 million. The entire $14.75 million was loaned in five advances from March 11 through June 30, 2015. The outstanding indebtedness bears interest at 8.0% percent per annum. The Promissory Note was amended on April 10, 2015 and on October 1, 2015 so that, unless otherwise converted as provided in the Note, the adjusted principal balance shall be due and payable in full upon written demand by MINOSA; provided that MINOSA agrees that it shall not demand payment of the adjusted principal balance earlier than the first to occur of: (i) 30 days after the date on which (x) SEMARNAT makes a determination with respect to the current application for the Manifestacion de Impacto Ambiental relating to the Don Diego Project, which determination is other than an approval or (y) Odyssey Marine Enterprises or any of its affiliates withdraws such application without MINOSA’s prior written consent; (ii) termination by Odyssey of the Stock Purchase Agreement, dated March 11, 2015 (the “Purchase Agreement”), among Odyssey, MINOSA, and Penelope Mining, LLC (the “Investor”); (iii) the occurrence of an event of default under the Promissory Note; (iv) December 31, 2015; or (v) if and only if the Investor shall have terminated the Purchase Agreement pursuant to Section 8.1(d)(iii) thereof, March 30, 2016. In connection with the loans, we granted MINOSA an option to purchase our 54% interest in Oceanica for $40.0 million (the “Oceanica Call Option. As of March 11, 2016, the Oceanica Call has expired. Completion of the transaction requires amending the Company’s articles of incorporation to (a) effect a reverse stock split, which was done on February 19, 2016, (b) adjusting the Company’s authorized capitalization, which was also done on February 19, 2016, and (c) establishing a classified board of directors (collectively, the “Amendments”). The Amendments have been or will be set forth in certificates of amendment to the Company’s articles of incorporation filed or to be filed with the Nevada Secretary of State. As collateral for the loan, we granted MINOSA a security interest in the Company’s 54% interest in Oceanica. The outstanding principal balance of this debt was $14.75 million at June 30, 2017 and December 31, 2016, respectively. The maturity date of this note has been amended and matured on March 18, 2017. Accounting considerations We have accounted for this transaction as a financing transaction, wherein the net proceeds received were allocated to the financial instruments issued. Prior to making the accounting allocation, we evaluated for proper classification under ASC 480 Distinguishing Liabilities from Equity Derivatives and Hedging Property, Plant and Equipment This debt agreement did not contain any embedded terms or features that have characteristics of derivatives. The Oceanica Call Option is considered a freestanding financial instrument because it is both (i) legally detachable and (ii) separately exercisable. The Oceanica Call Option did not fall under the guidance of ASC 480. Additionally, it did not meet the definition of a derivative under ASC 815 because the option has a fixed value of $40.0 million and does not contain an underlying variable which is indicative of a derivative. This instrument is considered an option contract for a sale of an asset. The guidance applied in this case is ASC 360-20, which provides that in situations when a party lends funds to a seller and is given an option to buy the property at a certain date in the future, the loan shall be recorded at its present value using market interest rates and any excess of the proceeds over that amount credited to an option deposit account. If the option is exercised, the deposit shall be included as part of the sales proceeds; if not exercised, it shall be credited to income in the period in which the option lapses. Based on the previous conclusions, we allocated the cash proceeds first to the debt at its present value using a market rate of 15%, which is management’s estimate of a market rate loan for the Company, with the residual allocated to the Oceanica Call Option, as follows: Tranche 1 Tranche 2 Tranche 3 Tranche 4 Tranche 5 Total Promissory Note $ 1,932,759 $ 5,826,341 $ 2,924,172 $ 1,960,089 $ 1,723,492 $ 14,366,853 Deferred Income (Oceanica Call Option) 67,241 173,659 75,828 39,911 26,509 383,148 Proceeds $ 2,000,000 $ 6,000,000 $ 3,000,000 $ 2,000,000 $ 1,750,0001 $ 14,750,001 The call option amount of $383,148 represented a debt discount. This discount has been fully accreted up to face value using the effective interest method. Note 4 – Epsilon On March 18, 2016 we entered into a Note Purchase Agreement (“Purchase Agreement”) with Epsilon Acquisitions LLC (“Epsilon”). Pursuant to the Purchase Agreement, Epsilon loaned us $3.0 million in two installments of $1.5 million on March 31, 2016 and April 30, 2016. The indebtedness bears interest at a rate of 10% per annum and was due on March 18, 2017. We were also responsible for $50,000 of the lender’s out of pocket costs. This amount is included in the loan balance. In pledge agreements related to the loans, we granted security interests to Epsilon in (a) the 54 million cuotas (a unit of ownership under Panamanian law) of Oceanica Resources S. de R.L. (“Oceanica”) held by our wholly owned subsidiary, Odyssey Marine Enterprises, Ltd. (“OME”), (b) all notes and other receivables from Oceanica and its subsidiary owed to the Odyssey Pledgors, and (c) all of the outstanding equity in OME. Epsilon has the right to convert the outstanding indebtedness into shares of our common stock upon 75 days’ notice to us or upon a merger, consolidation, third party tender offer, or similar transaction relating to us at the conversion price of $5.00 per share, which represents the five-day volume-weighted average price of Odyssey’s common stock for the five trading day period ending on March 17, 2016. On January 25, 2017, Epsilon provided notice to us that it will convert the initial $3.0 million plus accrued interest per the Restated Note Purchase Agreement at $5.00 per share in accordance with the terms of the agreement. The conversion and issuance of new shares is effective April 10, 2017 and includes accrued interest of $302,274 for a total 670,455 shares. Upon the occurrence and during the continuance of an event of default, the conversion price was to be reduced to $2.50 per share. Following any conversion of the indebtedness, Penelope Mining LLC (an affiliate of Epsilon) (“Penelope”), may elect to reduce its commitment to purchase preferred stock of Odyssey under the Stock Purchase Agreement, dated as of March 11, 2015 (as amended, the “Stock Purchase Agreement”), among Odyssey, Penelope, and Minera del Norte, S.A. de C.V. (“MINOSA”) by the amount of indebtedness converted. Pursuant to the Purchase Agreement (a) we agreed to waive our rights to terminate the Stock Purchase Agreement in accordance with the terms thereof until December 31, 2016, and (b) MINOSA agreed to extend, until March 18, 2017, the maturity date of the $14.75 million loan extended by MINOSA to OME pursuant to the Stock Purchase Agreement. The indebtedness may be accelerated upon the occurrence of specified events of default including (a) OME’s failure to pay any amount payable on the date due and payable; (b) OME or we fail to perform or observe any term, covenant, or agreement in the Purchase Agreement or the related documents, subject to a five-day cure period; (c) an event of default or material breach by OME, us or any of our affiliates under any of the other loan documents shall have occurred and all grace periods, if any, applicable thereto shall have expired; (d) the Stock Purchase Agreement shall have been terminated; (e) specified dissolution, liquidation, insolvency, bankruptcy, reorganization, or similar cases or actions are commenced by or against OME or any of its subsidiaries, in specified circumstances unless dismissed or stayed within 60 days; (f) the entry of judgment or award against OME or any of its subsidiaries in excess or $100,000; and (g) a change in control (as defined in the Purchase Agreement) occurs. In connection with the execution and delivery of the Purchase Agreement, we and Epsilon entered into a registration rights agreement pursuant to which we agreed to register new shares of our common stock with a formal registration statement with the Securities and Exchange Commission upon the conversion of the indebtedness. Accounting considerations We have accounted for this transaction as a financing transaction, wherein the net proceeds received were allocated to the financial instruments issued. Prior to making the accounting allocation, we evaluated for proper classification under ASC 480 Distinguishing Liabilities from Equity Derivatives and Hedging Property, Plant and Equipment This debt agreement did not contain any embedded terms or features that have characteristics of derivatives. However, we were required to consider whether the hybrid contract embodied a beneficial conversion feature (“BCF”). The calculation of the effective conversion amount did result in a BCF because the effective conversion price was less than the Company’s stock price on the date of issuance, therefore a BCF of $96,000 was recorded. The BCF represents a debt discount which will be amortized over the life of the loan. Loan modification (October 1, 2016) On October 1, 2016 Odyssey Marine Enterprises, Ltd. (“OME”), entered into an Amended and Restated Note Purchase Agreement (the “Restated Note Purchase Agreement”) with Epsilon Acquisitions LLC (“Epsilon”). In connection with the existing $3.0 million loan agreement, Epsilon agreed to lend an additional $3.0 million of secured convertible promissory notes. The convertible promissory notes bear an interest rate of 10.0% per annum and are due and payable on March 18, 2017. The principal balance of this debt at June 30, 2017 is $3,000,000. Epsilon has the right to convert all amounts outstanding under the Restated Note into shares of our common stock upon 75 days’ notice to OME or upon a merger, consolidation, third party tender offer, or similar transaction relating to us at the applicable conversion price, which is (a) $5.00 per share with respect to the $3.0 million already advanced under the Restated Note and (b) with respect to additional advances under the Restated Note, the five-day volume-weighted average price of our common stock for the five trading day period ending on the trading day immediately prior to the date on which OME submits a borrowing notice for such advance. Notwithstanding anything herein to the contrary, we shall not issue any of our common stock upon conversion of any outstanding tranche (other than the first $3.0 million already advanced) under this Restated Note in excess of 1,388,769 shares of common stock. The additional tranches were issued as follows: (a) $1,000,000 (“Tranche 3”) was issued on October 16, 2016 with a conversion price of $3.52 per share; (b) $1,000,000 (“Tranche 4”) was issued on November 15, 2016 with a conversion price of $4.19 per share; and (c) $1,000,000 (“Tranche 5”) was issued on December 15, 2016 with a conversion price of $4.13 per share. During 2016, Epsilon assigned Tranche 4 and 5 totaling $2,000,000 of this debt to MINOSA under the same terms as the original debt. As an inducement for the issuance of the additional $3.0 million of promissory notes, we also delivered to Epsilon a common stock purchase warrant (the “Warrant”) pursuant to which Epsilon has the right to purchase up to 120,000 shares of our common stock at an exercise price of $3.52 per share, which exercise price represents the five-day volume-weighted average price of our common stock for the five trading day period ending on the trading day immediately prior to the day on which the Warrant was issued. Epsilon may exercise the Warrant in whole or in part at any time during the period ending October 1, 2021. The Warrant includes a cashless exercise feature and provides that, if Epsilon is in default of its obligations to fund any advance pursuant to and in accordance with the Restated Note Purchase Agreement, then, thereafter, the maximum aggregate number of shares of common stock that may be purchased under the Warrant shall be the number determined by multiplying 120,000 by a fraction, (a) the numerator of which is the aggregate principal amount of advances that have been extended to the OME by Epsilon pursuant to the Restated Note Purchase Agreement on or after the date of the Warrant and prior to the date of such failure and (b) the denominator of which is $3.0 million. Accounting considerations for additional tranches We evaluated for proper classification under ASC 480 Distinguishing Liabilities from Equity Derivatives and Hedging Property, Plant and Equipment Tranche 3 Tranche 4 Tranche 5 Promissory Note $ 981,796 $ 939,935 $ 1,000,000 Beneficial Conversion Feature (“BCF”)* 18,204 60,065 — Proceeds $ 1,000,000 $ 1,000,000 $ 1,000,000 A beneficial conversion feature arises when the calculation of the effective conversion price is less than the Company’s stock price on the date of issuance. Tranche 5 did not result in a BCF because the effective conversion price was greater than the company’s stock price on the date of issuance. The warrants fair values were calculated using Black-Scholes Merton (“BSM”). The aggregate fair value of the warrants totaled $303,712. Since the warrants were issued as an inducement to Epsilon to issue additional debt, we recorded an inducement expense of $303,712. For the three months ended June 30, 2017 and June 30, 2016, interest expense related to the discount in the amount of $0 and $23,472, respectively, was recorded. For the three months ended June 30, 2017 and June 30, 2016, accrued interest in the amount of $83,151 and $78,547, respectively, was recorded. Term Extension (March 21, 2017) On March 21, 2017 we entered into an amendment to the Restated Note Purchase Agreement with Epsilon. In connection with the existing $6.0 million loan agreement, the adjusted principal balance is due and payable in full upon the earlier of (i) written demand by Epsilon or (ii) such time as Odyssey or the guarantor pays any other indebtedness for borrowed money prior to its stated maturity date. As such the Company amortized the notes up to their face value of $6,050,000 and they are classified as short-term. However, since Epsilon converted the first $3.0 million into 670,455 of our common shares, the current indebtedness is $3.0 million. Note 5 – SMOM On May 4, 2017, we entered into a Loan and Security Agreement (“Loan Agreement”) with SMOM. Pursuant to the Loan Agreement, SMOM agreed to loan us up to $3.0 million as evidenced by a convertible promissory note. As a commitment fee, we assigned the remaining 50% of our Neptune Minerals, LLC receivable to SMOM. This receivable had zero carrying value on our balance sheet (See NOTE C). All $3.0 million represented by this Loan Agreement has been funded. The indebtedness bears interest at a rate of 10% per annum and matures on the second anniversary of this Loan Agreement. The holder has the option to convert any unpaid principal and interest into up to 50% of the equity interest held by Odyssey in Aldama Mining Company, S.de R.L. de C.V. which is a wholly owned subsidiary of ours. The conversion value of $1.0 million equates to 10% of the equity interest in Aldama. If the holder elects to acquire the entire 50.0% of the equity interest, but the amount of debt and interest accumulated to be converted is insufficient to acquire the entire 50% equity interest, the Holder has to pay the deficiency in cash. As additional consideration for the loan, the holder has the right to purchase from Odyssey all or a portion of the equity collateral (up to the 50% of the equity interest of Aldama) for the option consideration ($1.0 million for each 10% of equity interests) during the period that is the later of (i) one year after the maturity date and (ii) one year after the loan is repaid in full, the expiration date. The lender may also choose to extend the expiration date annually by paying $500,000 for each year extended. Accounting considerations We have accounted for this transaction as a financing transaction, wherein the net proceeds received were allocated to the financial instruments issued. Prior to making the accounting allocation, we evaluated for proper classification under ASC 480 Distinguishing Liabilities from Equity Derivatives and Hedging Property, Plant and Equipment This debt agreement did not contain any embedded terms or features that have characteristics of derivatives. However, we were required to consider whether the hybrid contract embodied a beneficial conversion feature (“BCF”). The calculation of the effective conversion amount did not result in a BCF because the effective conversion price was equal to the value of the Company’s value on the date of issuance.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Stockholders' Equity (Deficit)	NOTE I – STOCKHOLDERS’ EQUITY (DEFICIT) At our Annual Meeting of Stockholders on June 9, 2015, our stockholders approved a 1-for-6 reverse stock split. On February 9, 2016, our Board of Directors authorized an additional 1-for-2 reverse stock split, to be effective immediately after the stockholder-approved 1-for-6 reverse stock split is implemented. The reverse stock splits were effective on February 19, 2016. The two reverse stock splits have the combined effect of a 1-for-12 reverse stock split. At the effective time of the reverse stock splits, every 12 shares of issued and outstanding common stock were converted into one share of issued and outstanding common stock, and the authorized shares of common stock were reduced from 150,000,000 to 75,000,000 shares. The par value remains at $0.0001. All shares and related financial information in this Form 10-Q have been retroactively adjusted to reflect this 1-for-12 reverse stock split. Convertible Preferred Stock On March 11, 2015, we entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Penelope Mining LLC (the “Investor”), and, solely with respect to certain provisions of the Purchase Agreement, Minera del Norte, S.A. de C.V. (the “Lender”). The Purchase Agreement provides for the Company to issue and sell to the Investor shares of the Company’s preferred stock in the amounts set forth in the following table (numbers have been adjusted for the February 2016 reverse stock split): Convertible Preferred Stock Shares Price Total Series AA-1 8,427,004 $ 12.00 $ 101,124,048 Series AA-2 7,223,145 $ 6.00 43,338,870 15,650,149 $ 144,462,918 The Investor’s option to purchase the Series AA-2 shares is subject to the closing price of the Common Stock on the NASDAQ market having been greater than or equal to $15.12 per share for a period of twenty (20) consecutive business days on which the NASDAQ market is open. The closing of the sale and issuance of shares of the Company’s preferred stock to the Investor is subject to certain conditions, including the Company’s receipt of required approvals from the Company’s stockholders, the receipt of regulatory approval, performance by the Company of its obligations under the Stock Purchase Agreement, the listing of the underlying common stock on the NASDAQ Stock Market and the Investor’s satisfaction, in its sole discretion, with the viability of certain undersea mining projects of the Company. This transaction received stockholders’ approval on June 9, 2015. Completion of the transaction requires amending the Company’s articles of incorporation to (a) effect a reverse stock split, which was done on February 19, 2016, (b) adjusting the Company’s authorized capitalization, which was also done on February 19, 2016, and (c) establishing a classified board of directors (collectively, the “Amendments”). The Amendments have been or will be set forth in certificates of amendment to the Company’s articles of incorporation filed or to be filed with the Nevada Secretary of State. Series AA Convertible Preferred Stock Designation The Purchase Agreement provides for the issuance of up to 8,427,004 shares of Series AA-1 Convertible Preferred Stock, par value $0.0001 per share (the “Series AA-1 Preferred”) and 7,223,145 shares of Series AA-2 Convertible Preferred Stock, par value $0.0001 per share (the “Series AA-2 Preferred”), subject to stockholder approval which was received on June 9, 2015 and satisfaction of other conditions. Significant terms and conditions of the Series AA Preferred are as follows: Dividends Liquidation Preference Voting Rights Conversion Rights Adjustments to Conversion Rights Accounting considerations As stated above, the issuance of the Series AA Convertible Preferred Stock is subject to certain contingencies. No accounting treatment determination is required until these contingencies are met and the Series AA Convertible Preferred Stock has been issued. However, we have analyzed the instrument to determine the proper accounting treatment that will be necessary once the instruments have been issued. ASC 480 generally requires liability classification for financial instruments that are certain to be redeemed, represent obligations to purchase shares of stock or represent obligations to issue a variable number of common shares. We concluded that the Series AA Preferred was not within the scope of ASC 480 because none of the three conditions for liability classification was present. ASC 815 generally requires the analysis of embedded terms and features that have characteristics of derivatives to be evaluated for bifurcation and separate accounting in instances where their economic risks and characteristics are not clearly and closely related to the risks of the host contract. However, in order to perform this analysis, we were first required to evaluate the economic risks and characteristics of the Series AA Convertible Preferred Stock in its entirety as being either akin to equity or akin to debt. Our evaluation concluded that the Series AA Convertible Preferred Stock was more akin to an equity-like contract largely due to the fact that most of its features were participatory in nature. As a result, we concluded that the embedded conversion feature is clearly and closely related to the host equity contract and will not require bifurcation and liability classification. The option to purchase the Series AA-2 Convertible Preferred Stock was analyzed as a freestanding financial instruments and has terms and features of derivative financial instruments. However, in analyzing this instrument under applicable guidance it was determined that it is both (i) indexed to the Company’s stock and (ii) meet the conditions for equity classification. Warrants In conjunction with the Restated Note Purchase Agreement related to Note 4 – Epsilon in NOTE H, we issued warrants tied to each of the three tranches of debt issued. A total of 120,000 warrants were granted. These warrants have an expiration date of October 1, 2021. All of these 120,000 warrants have an exercise price of $3.52. Each single warrant is exercisable to purchase one share of our common stock. Stock-Based Compensation We have two stock incentive plans. The first is the 2005 Stock Incentive Plan that expired in August 2015. After the expiration of this plan, equity instruments cannot be granted but this plan shall continue in effect until all outstanding awards have been exercised in full or are no longer exercisable and all equity instruments have vested or been forfeited. On June 9, 2015, our shareholders approved our 2015 Stock Incentive Plan (the “Plan”) that was adopted by our Board of Directors (the “Board”) on January 2, 2015, which is the effective date. The plan expires on the tenth anniversary of the effective date. The Plan provides for the grant of incentive stock options, non-qualified stock options, restricted stock awards, restricted stock units and stock appreciation rights. This plan was initially capitalized with 450,000 shares that may be granted. The Plan is intended to comply with Section 162(m) of the Internal Revenue Code, which stipulates that the maximum aggregate number of Shares with respect to one or more Awards that may be granted to any one person during any calendar year shall be 83,333, and the maximum aggregate amount of cash that may be paid in cash to any person during any calendar year with respect to one or more Awards payable in cash shall be $2,000,000. The original maximum number of shares that were to be used for Incentive Stock Options (“ISO”) under the Plan was 450,000. During our June 2016 stockholders meeting, the stockholders approved the addition of 200,000 incremental shares to the Plan. With respect to each grant of an ISO to a participant who is not a ten percent stockholder, the exercise price shall not be less than the fair market value of a share on the date the ISO is granted. With respect to each grant of an ISO to a participant who is a ten percent stockholder, the exercise price shall not be less than one hundred ten percent (110%) of the fair market value of a share on the date the ISO is granted. If an award is a non-qualified stock option (“NQSO”), the exercise price for each share shall be no less than (1) the minimum price required by applicable state law, or (2) the fair market value of a share on the date the NQSO is granted, whichever price is greatest. Any award intended to meet the performance based exception must be granted with an exercise price not less than the fair market value of a share determined as of the date of such grant. Share-based compensation expense recognized during the period is based on the value of the portion of share-based payment awards that is ultimately expected to vest. As share-based compensation expense recognized in the statement of operations is based on awards ultimately expected to vest, it can be reduced for estimated forfeitures. The ASC topic Stock Compensation requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The share based compensation charged against income for the three and six-month periods ended June 30, 2017 and 2016 was $208,497 and $357,872 and $416,993 and $692,501, respectively. We did not grant employee stock options in the three-month periods ended June 30, 2017 and 2016. The weighted average fair value of stock options granted is determined using the Black-Scholes option-pricing model, which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, the expected dividend payments, and the risk-free interest rate over the life of the option. The Black-Scholes option valuation model was developed for estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Because option valuation models require the use of subjective assumptions, changes in or variations from these assumptions can materially affect the fair value of the options.

Concentration of Credit Risk

Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2017
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	NOTE J – CONCENTRATION OF CREDIT RISK We maintain the majority of our cash at one financial institution. At June 30, 2017, our uninsured cash balance was approximately $1.2 million. We do not currently have any debt obligations with variable interest rates.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE K – DERIVATIVE FINANCIAL INSTRUMENTS The following table summarizes the amounts that were reflected in our income related to our derivatives for the three and six months ended June 30, 2017 and June 30, 2016: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Derivative income (expense): Unrealized gains (losses) from fair value changes: 2014 Convertible Promissory Notes — $ — — $ 3,396,190 Warrant derivatives — 61,051 — 2,335 — 61,051 — 3,398,525 Redemptions of Senior Convertible Notes — — — — Total derivative income (expense) $ — $ 61,051 $ — $ 3,398,525 Current accounting principles that are provided in ASC 815— Derivatives and Hedging Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the share purchase options that have been bifurcated from our Monaco Notes and classified in liabilities as of March 8, 2016, (Modification Date): Tranche 1 – August 14, 2014: March 8, 2016*** Underlying price on valuation date* $1.25 Contractual conversion rate $3.15 Contractual term to maturity** 1.82 Years Implied expected term to maturity 1.24 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Contractual interest rate 11.00% Equivalent market risk adjusted interest rates 11.60% Range of credit risk adjusted yields 3.49% - 5.02% Equivalent credit risk adjusted yield 4.13% Tranche 2 – October 1, 2014: March 8, 2016*** Underlying price on valuation date* $1.25 Contractual conversion rate $3.15 Contractual term to maturity** 1.82 Years Implied expected term to maturity 1.24 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Contractual interest rate 11.00% Equivalent market risk adjusted interest rates 11.60% Range of credit risk adjusted yields 3.49% - 5.02% Equivalent credit risk adjusted yield 4.13% Tranche 3 – December 1, 2014: March 8, 2016*** Underlying price on valuation date* $1.25 Contractual conversion rate $3.15 Contractual term to maturity** 1.82 Years Implied expected term to maturity 1.24 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Contractual interest rate 11.00% Equivalent market risk adjusted interest rates 11.60% Range of credit risk adjusted yields 3.49% - 5.02% Equivalent credit risk adjusted yield 4.13% * The instrument is convertible into shares of the Company’s subsidiary, Oceanica, which is not a publicly-traded entity. Therefore, its shares do not trade on a public exchange. As a result, the underlying value was originally based on private sales of the subsidiary’s shares because that was the best indicator of the value of the shares in the past. The last sale of Oceanica’s shares in which a private investor accumulated 24% of the shares of which their last purchase price was for $2.50 per share in December 2013. Accordingly, the underlying price used in the past in the MCS calculations was the $2.50 for the inception dates and December 31, 2015. Being far removed from December 2013 while considering the modification in March 2016 of the new option price of $1.00 and other market conditions currently prevailing, management determined $1.25 to be representative of the per share fair value. ** On December 10, 2015, the term was extended to December 31, 2017. In March 2016, the term was extended to April 1, 2018. *** In March 2016, the purchase price of the share purchase options was modified to $1.00 per share. As a result of the re-pricing, the share purchase options became convertible into a fixed number of shares and no longer required measurement as derivative liabilities. The MCS were calculated for the instruments just prior to the modification on March 8, 2016. The following table reflects the issuances of the Share Purchase Option derivatives and changes in fair value inputs and assumptions for these derivatives during the six months ended June 30, 2017 and 2016. For the six months ended 2017 2016 Balances at January 1 $ — $ 3,396,190 Issuances — — Modification (1,456,825 ) Changes in fair value inputs and assumptions reflected in income — (1,939,365 ) Balances at June 30 $ — $ — The fair value of all Share Purchase Option derivatives is significantly influenced by our trading market price, the price volatility in trading and the risk-free interest components of the Binomial Lattice technique. On October 11, 2010, we also issued warrants to acquire 150,000 of our common shares in connection with the Series G Convertible Preferred Stock Financing. During April 4-8, 2011, we issued warrants to acquire 43,750 of our common shares in connection the Series G Convertible Preferred Stock and Warrant Settlement Transaction. Finally, on November 8, 2011, we issued warrants to acquire 108,507 of our common shares in connection with the Senior Convertible Note Financing Transaction. These warrants required liability classification as derivative financial instruments because certain down-round anti-dilution protection or price protection features included in the warrant agreements are not consistent with the concept of equity. We applied the Binomial Lattice valuation technique in estimating the fair value of the warrants because we believe that this technique is most appropriate and reflects all of the assumptions that market participants would likely consider in transactions involving the warrants, including the potential incremental value associated with the down-round anti-dilution protections. The Binomial Lattice technique is a level three valuation technique because it requires the development of significant internal assumptions in addition to observable market indicators. Warrants linked to 143,750 shares of common stock associated with the Series G Convertible Preferred Stock Financing were exercised on October 11, 2013. Of the 108,507 common shares for which the warrant issued on November 8, 2011 could be exercised, 36,169 of those common shares were accessible only based upon the Company’s election to require the lender to provide the additional financing. When the lender provided additional financing of $8,000,000 on May 10, 2012, the additional 36,169 of common shares became accessible. Warrants indexed to an additional 21,701 were issued in conjunction with the additional financing. All remaining warrants linked to 43,750 shares of common stock associated with the Series G Convertible Preferred Stock Financing expired unexercised on April 13, 2014 and are no longer outstanding. All remaining warrants linked to 130,208 shares of common stock associated with the Senior Convertible Note Financing Transaction expired unexercised on April 13, 2014 and are no longer outstanding. The following table reflects the issuances of derivative warrants and changes in fair value related to the derivative warrants during the six months ended June 30, 2017 and 2016. Six months ended June 30, 2017 2016 Balances at January 1 $ — $ 6,226 Changes in fair value inputs and assumptions reflected in income — (2,335 ) Balances at June 30 $ — $ 3,891 The fair value of all warrant derivatives is significantly influenced by our trading market price, the price volatility in trading and the risk-free interest components of the Binomial Lattice technique.

Revenue Participation Rights

Revenue Participation Rights	6 Months Ended
	Jun. 30, 2017
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Participation Rights	NOTE L – REVENUE PARTICIPATION RIGHTS The Company’s participating revenue rights consisted of the following at: June 30, 2017 December 31, 2016 “ Cambridge $ 825,000 $ 825,000 “ Seattle 62,500 62,500 Galt Resources, LLC (HMS Victory 3,756,250 3,756,250 Total revenue participation rights $ 4,643,750 $ 4,643,750 “ Cambridge ” project We previously sold Revenue Participation Certificates (“RPCs”) that represent the right to share in our future revenues derived from the “ Cambridge Sussex Cambridge” Each $50,000 convertible “ Cambridge” Cambridge Cambridge Cambridge “ Seattle ” project In a private placement that closed in September 2000, we sold “units” consisting of “ Republic” Seattle Republic Seattle The participating rights balance will be amortized under the units of revenue method once management can reasonably estimate potential revenue for each of these projects. The RPCs for the “ Cambridge Seattle” Galt Resources, LLC In February 2011, we entered into a project syndication deal with Galt Resources LLC (“Galt”) for which they invested $7,512,500 representing rights to future revenues of any one project Galt selected prior to December 31, 2011. If the project is successful and generates sufficient proceeds, Galt will recoup their investment plus three times the investment. Galt’s investment return will be paid out of project proceeds. Galt will receive 50% of project proceeds until this amount is recouped. Thereafter, they will share in additional net proceeds of the project at the rate of 1% for every million invested. Subsequent to the original syndication deal, we reached an agreement permitting Galt to bifurcate their selection between two projects, the SS Gairsoppa Victory Victory Victory Gairsoppa Gairsoppa

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Recent accounting pronouncements	Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, or ASU 2014-09, which establishes a comprehensive revenue recognition standard under GAAP for almost all industries. The new standard will apply for annual periods beginning after December 15, 2017, including interim periods therein. Early adoption is prohibited. Based on management’s review of this new standard along with the substance of our transactions, management is of the position this standard will not have a material impact on our financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases, which establishes a comprehensive lease standard under GAAP for virtually all industries. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. A lessee is also required to record a right of use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales type leases, direct financing leases and operating leases. The new standard will apply for annual periods beginning after December 15, 2018, including interim periods therein, and requires modified retrospective application. Early adoption is permitted. Based on management’s current understanding of this new standard along with the underlying substance of our operations, management believes it will not have a material impact on our financial statements. Other recent accounting pronouncements issued by the FASB, the AICPA and the SEC did not or are not believed by management to have a material effect, if any, on the Company’s financial statements.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its direct and indirect wholly owned subsidiaries, both domestic and international. Equity investments in which we exercise significant influence but do not control and of which we are not the primary beneficiary are accounted for using the equity method. All significant inter-company and intra-company transactions and balances have been eliminated. The results of operations attributable to the non-controlling interest are presented within equity and net income, and are shown separately from the Company’s equity and net income attributable to the Company. Some of the existing inter-company balances, which are eliminated upon consolidation, include features allowing the liability to be converted into equity of a subsidiary, which if exercised, could increase the direct or indirect interest of the Company in the non-wholly owned subsidiaries.
Use of Estimates	Use of Estimates Management uses estimates and assumptions in preparing these consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were used.
Revenue Recognition and Accounts Receivable	Revenue Recognition and Accounts Receivable In accordance with Topic A.1. in SAB 13: Revenue Recognition, marine services expedition charter revenue is recognized ratably when realized and earned as time passes throughout the contract period as defined by the terms of the agreement. Expenses related to the marine services expedition charter revenue (also referred to as “marine services” revenue) are recorded as incurred and presented under the caption “Operations and research” on our Consolidated Statements of Operations. Bad debts are recorded as identified and, from time to time, a specific reserve allowance will be established when required. A return allowance is established for sales that have a right of return. Accounts receivable is stated net of any recorded allowances.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash, cash equivalents and restricted cash include cash on hand and cash in banks. We also consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. We have $10,000 of restricted cash for collateral related to a corporate credit card program.
Long-Lived Assets	Long-Lived Assets Our policy is to recognize impairment losses relating to long-lived assets in accordance with the Accounting Standards Codification (“ASC”) topic for Property, Plant and Equipment. Decisions are based on several factors, including, but not limited to, management’s plans for future operations, recent operating results and projected cash flows. Impairment losses are included in depreciation at the time of impairment.
Property and Equipment and Depreciation	Property and Equipment and Depreciation Property and equipment is stated at historical cost. Depreciation is calculated using the straight-line method at rates based on the assets’ estimated useful lives which are normally between three and thirty years. Leasehold improvements are amortized over their estimated useful lives or lease term, if shorter. Major overhaul items (such as engines or generators) that enhanced or extended the useful life of vessel related assets qualified to be capitalized and depreciated over the useful life or remaining life of that asset, whichever was shorter. Certain major repair items required by industry standards to ensure a vessel’s seaworthiness also qualified to be capitalized and depreciated over the period of time until the next scheduled planned major maintenance for that item. All other repairs and maintenance were accounted for under the direct-expensing method and are expensed when incurred. The smaller vessel we received as consideration when we sold our Odyssey Explorer
Earnings Per Share	Earnings Per Share See NOTE I regarding our 1-for-12 reverse stock split. Share related amounts have been retroactively adjusted in this report to reflect this reverse stock-split for all periods presented. Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. In periods when the Company has income, the Company would calculate basic earnings per share using the two-class method, if required, pursuant to ASC 260 Earnings Per Share. Diluted EPS reflects the potential dilution that would occur if dilutive securities and other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. We use the treasury stock method to compute potential common shares from stock options and warrants and the if-converted method to compute potential common shares from preferred stock, convertible notes or other convertible securities. For diluted earnings per share, the Company uses the more dilutive of the if-converted method or two-class method. When a net loss occurs, potential common shares have an anti-dilutive effect on earnings per share and such shares are excluded from the diluted EPS calculation. At June 30, 2017 and 2016, the weighted average common shares outstanding year-to-date were 8,022,108 and 7,542,728, respectively. For the periods in which net losses occurred, all potential common shares were excluded from diluted EPS because the effect of including such shares would be anti-dilutive. The potential common shares in the following tables represent potential common shares calculated using the treasury stock method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS: Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Average market price during the period $ 3.58 $ 3.08 $ 3.90 $ 3.35 In the money potential common shares from options excluded 5,315 4,089 6,706 4,717 In the money potential common shares from warrants excluded 2,010 — 11,691 — Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS: Three Months Ended Six-Months Ended Per share June 30, June 30, June 30, June 30, Out of the money options excluded: $ 3.59 7,521 — — — $ 12.48 137,666 137,666 137,666 137,666 $ 12.84 4,167 4,167 4,167 4,167 $ 26.40 75,158 75,794 75,158 75,794 $ 32.76 — 53,707 — 53,707 $ 34.68 73,765 74,265 73,765 74,265 $ 39.00 8,333 8,333 8,333 8,333 $ 41.16 833 833 833 833 $ 42.00 8,333 8,333 8,333 8,333 $ 46.80 1,667 1,667 1,667 1,667 Out-of-the-money warrants excluded: $ 43.20 — 130,208 — 130,208 Total excluded 317,443 494,973 309,922 494,973 The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Potential common shares from unvested restricted stock awards excluded from EPS 238,921 88,096 238,921 88,096 The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Net income (loss) $ (1,916,885 ) $ (1,858,778 ) $ (4,116,148 ) $ (1,774,133 ) Numerator, basic and diluted net income (loss) available to stockholders $ (1,916,885 ) $ (1,858,778 ) $ (4,116,148 ) $ (1,774,133 ) Denominator: Shares used in computation – basic: Weighted average common shares outstanding 8,322,512 7,544,345 8,022,108 7,542,728 Common shares outstanding for basic 8,322,512 7,544,345 8,022,108 7,542,728 Shares used in computation – diluted: Common shares outstanding for basic 8,322,512 7,544,345 8,022,108 7,542,728 Shares used in computing diluted net income per share 8,322,512 7,544,345 8,022,108 7,542,728 Net (loss) per share – basic $ (0.23 ) $ (0.25 ) $ (0.51 ) $ (0.24 ) Net (loss) per share – diluted $ (0.23 ) $ (0.25 ) $ (0.51 ) $ (0.24 )
Income Taxes	Income Taxes Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is provided when it is more likely than not that some portion or the entire deferred tax asset will not be realized.
Stock-based Compensation	Stock-based Compensation Our stock-based compensation is recorded in accordance with the guidance in the ASC topic for Stock-Based Compensation
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial instruments consist of cash, evidence of ownership in an entity, and contracts that both (i) impose on one entity a contractual obligation to deliver cash or another financial instrument to a second entity, or to exchange other financial instruments on potentially unfavorable terms with the second entity, and (ii) conveys to that second entity a contractual right (a) to receive cash or another financial instrument from the first entity, or (b) to exchange other financial instruments on potentially favorable terms with the first entity. Accordingly, our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, derivative financial instruments and mortgage and loans payable. We carry cash and cash equivalents, accounts payable and accrued liabilities, and mortgage and loans payable at the approximate fair market value, and, accordingly, these estimates are not necessarily indicative of the amounts that we could realize in a current market exchange. We carry derivative financial instruments at fair value as is required under current accounting standards. Redeemable preferred stock has been carried at historical cost and accreted carrying values to estimated redemption values over the term of the financial instrument. Derivative financial instruments consist of financial instruments or other contracts that contain a notional amount and one or more underlying variables (e.g., interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value and recorded as liabilities or, in rare instances, assets. See NOTE K for additional information. We generally do not use derivative financial instruments to hedge exposures to cash-flow, market or foreign-currency risks. However, we have entered into certain other financial instruments and contracts with features that are either (i) not afforded equity classification, (ii) embody risks not clearly and closely related to host contracts, or (iii) may be net-cash settled by the counterparty. As required by ASC 815 – Derivatives and Hedging Fair Value Hierarchy The three levels of inputs that may be used to measure fair value are as follows: Level 1. Level 2. Level 3.
Redeemable Preferred Stock	Redeemable Preferred Stock If we issue redeemable preferred stock instruments (or any other redeemable financial instrument), they are initially evaluated for possible classification as a liability in instances where redemption is certain to occur pursuant to ASC 480 – Distinguishing Liabilities from Equity
Subsequent Events	Subsequent Events We have evaluated subsequent events for recognition or disclosure through the date this Form 10-Q is filed with the Securities and Exchange Commission.
Debt and Equity Securities	Since CRP was a thinly traded stock and pursuant to guidance per ASC 320: Debt and Equity Securities

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
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: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Net income (loss) $ (1,916,885 ) $ (1,858,778 ) $ (4,116,148 ) $ (1,774,133 ) Numerator, basic and diluted net income (loss) available to stockholders $ (1,916,885 ) $ (1,858,778 ) $ (4,116,148 ) $ (1,774,133 ) Denominator: Shares used in computation – basic: Weighted average common shares outstanding 8,322,512 7,544,345 8,022,108 7,542,728 Common shares outstanding for basic 8,322,512 7,544,345 8,022,108 7,542,728 Shares used in computation – diluted: Common shares outstanding for basic 8,322,512 7,544,345 8,022,108 7,542,728 Shares used in computing diluted net income per share 8,322,512 7,544,345 8,022,108 7,542,728 Net (loss) per share – basic $ (0.23 ) $ (0.25 ) $ (0.51 ) $ (0.24 ) Net (loss) per share – diluted $ (0.23 ) $ (0.25 ) $ (0.51 ) $ (0.24 )
In the Money Potential Common Shares [Member]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The potential common shares in the following tables represent potential common shares calculated using the treasury stock method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS: Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Average market price during the period $ 3.58 $ 3.08 $ 3.90 $ 3.35 In the money potential common shares from options excluded 5,315 4,089 6,706 4,717 In the money potential common shares from warrants excluded 2,010 — 11,691 —
Out of Money Potential Common Shares [Member]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS: Three Months Ended Six-Months Ended Per share June 30, June 30, June 30, June 30, Out of the money options excluded: $ 3.59 7,521 — — — $ 12.48 137,666 137,666 137,666 137,666 $ 12.84 4,167 4,167 4,167 4,167 $ 26.40 75,158 75,794 75,158 75,794 $ 32.76 — 53,707 — 53,707 $ 34.68 73,765 74,265 73,765 74,265 $ 39.00 8,333 8,333 8,333 8,333 $ 41.16 833 833 833 833 $ 42.00 8,333 8,333 8,333 8,333 $ 46.80 1,667 1,667 1,667 1,667 Out-of-the-money warrants excluded: $ 43.20 — 130,208 — 130,208 Total excluded 317,443 494,973 309,922 494,973
Unvested Restricted Stock Awards Excluded from EPS [Member]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Potential common shares from unvested restricted stock awards excluded from EPS 238,921 88,096 238,921 88,096

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Summary of Accounts Receivable	Our accounts receivable consist of the following: June 30, 2017 December 31, 2016 Trade $ 1,389 $ 2,569,108 Related party 200,970 205,497 Other 83,019 44,930 Reserve allowance — (2,345,729 ) Total accounts receivable, net $ 285,378 $ 473,806

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of Change in Valuation Allowance	The change in the valuation allowance is as follows: June 30, 2017 $ 70,515,931 December 31, 2016 69,481,041 Change in valuation allowance $ 1,034,890

Loans Payable (Tables)

Loans Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Consolidated Debt	The Company’s consolidated debt consisted of the following at: June 30, 2017 December 31, Note 1 – Monaco 2014 $ 2,800,000 2,800,000 Note 2 – Monaco 2016 1,059,439 1,535,501 Note 3 – MINOSA 14,750,001 14,750,001 Note 4 – Epsilon 3,000,000 5,981,806 Note 5 – SMOM 3,000,000 — $ 24,609,440 $ 25,067,308
Summary of Fair Value of Debt	the fair value of the new debt is determined. The fair value of the new debt is as follows: Monaco loans Loan one Forward cash flows: Principal $ 2,800,000 Interest 559,463 Total forward cash flows $ 3,359,463 Present value of forward cash flows $ 2,554,371 Fair value of equity conversion option 1,063,487 Fair value of debt $ 3,617,858
Summary of Debt Premium	Monaco loans Loan one Forward cash flows: Face value $ 2,800,000 Fair value 3,617,858 Difference (premium)* $ 817,858 * ASC 470-20-25-13 provides that if a convertible debt instrument is issued at a substantial premium, there is a presumption that such premium represents paid in capital. Since the total face amount of the new loans is $2,800,000, we conclude that the $817,858 was substantial and recorded that premium to additional paid-in capital.
Summary of Gain or Loss Upon Extinguishment Allocation	The allocation is as follows: Allocation Derivative liabilities (share purchase options) $ 1,456,825 Monaco Loan (Old Debt) 3,372,844 Monaco Loan (New Debt) (2,800,000 ) APIC (Premium) (817,858 ) Difference to APIC* $ 1,211,811 * The difference between the fair value of the new debt and the sum of the pre-modification carrying amount of the old debt and the share purchase option’s fair value represented a gain on extinguishment. ASC 470-50-40-2 indicates that debt restructuring with a related party may be in essence a capital transaction and as a result the gain upon extinguishment was recognized in additional paid in capital.
Schedule of Allocation of Cash Proceeds to Derivative Components at their Fair Values	The allocations of the three additional tranches were as follows. Tranche 3 Tranche 4 Tranche 5 Promissory Note $ 981,796 $ 939,935 $ 1,000,000 Beneficial Conversion Feature (“BCF”)* 18,204 60,065 — Proceeds $ 1,000,000 $ 1,000,000 $ 1,000,000
Oceanica Resources S. de. R.L [Member]
Schedule of Allocation of Cash Proceeds to Derivative Components at their Fair Values	Based on the previous conclusions, we allocated the cash proceeds first to the debt at its present value using a market rate of 15%, which is management’s estimate of a market rate loan for the Company, with the residual allocated to the Oceanica Call Option, as follows: Tranche 1 Tranche 2 Tranche 3 Tranche 4 Tranche 5 Total Promissory Note $ 1,932,759 $ 5,826,341 $ 2,924,172 $ 1,960,089 $ 1,723,492 $ 14,366,853 Deferred Income (Oceanica Call Option) 67,241 173,659 75,828 39,911 26,509 383,148 Proceeds $ 2,000,000 $ 6,000,000 $ 3,000,000 $ 2,000,000 $ 1,750,0001 $ 14,750,001
Monaco Notes [Member] | Note 2 [Member]
Summary of Significant Conversion Option Valuation Inputs and Results	Significant inputs and results arising from the Binomial Lattice process are as follows for the conversion option that is classified in equity after the modification in March 2016: Underlying price on valuation date $1.25 Contractual conversion rate $1.00 Contractual term to maturity 1.82 Years Implied expected term to maturity 1.82 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Risk free rates using zero coupon US Treasury Security rates 0.29% - 0.68% Equivalent market risk adjusted interest rates 0.52%

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Summary of Preferred Stock Allocated to Investors	The Purchase Agreement provides for the Company to issue and sell to the Investor shares of the Company’s preferred stock in the amounts set forth in the following table (numbers have been adjusted for the February 2016 reverse stock split): Convertible Preferred Stock Shares Price Total Series AA-1 8,427,004 $ 12.00 $ 101,124,048 Series AA-2 7,223,145 $ 6.00 43,338,870 15,650,149 $ 144,462,918

Derivative Financial Instrume25

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Changes in Fair Values of Derivative Liabilities	The following table summarizes the amounts that were reflected in our income related to our derivatives for the three and six months ended June 30, 2017 and June 30, 2016: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Derivative income (expense): Unrealized gains (losses) from fair value changes: 2014 Convertible Promissory Notes — $ — — $ 3,396,190 Warrant derivatives — 61,051 — 2,335 — 61,051 — 3,398,525 Redemptions of Senior Convertible Notes — — — — Total derivative income (expense) $ — $ 61,051 $ — $ 3,398,525
Senior Convertible Notes [Member]
Significant Assumptions Utilized in Valuation Technique	Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the share purchase options that have been bifurcated from our Monaco Notes and classified in liabilities as of March 8, 2016, (Modification Date): Tranche 1 – August 14, 2014: March 8, 2016*** Underlying price on valuation date* $1.25 Contractual conversion rate $3.15 Contractual term to maturity** 1.82 Years Implied expected term to maturity 1.24 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Contractual interest rate 11.00% Equivalent market risk adjusted interest rates 11.60% Range of credit risk adjusted yields 3.49% - 5.02% Equivalent credit risk adjusted yield 4.13% Tranche 2 – October 1, 2014: March 8, 2016*** Underlying price on valuation date* $1.25 Contractual conversion rate $3.15 Contractual term to maturity** 1.82 Years Implied expected term to maturity 1.24 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Contractual interest rate 11.00% Equivalent market risk adjusted interest rates 11.60% Range of credit risk adjusted yields 3.49% - 5.02% Equivalent credit risk adjusted yield 4.13% Tranche 3 – December 1, 2014: March 8, 2016*** Underlying price on valuation date* $1.25 Contractual conversion rate $3.15 Contractual term to maturity** 1.82 Years Implied expected term to maturity 1.24 Years Market volatility: Range of volatilities 96.0% - 154.0% Equivalent volatilities 120.1% Contractual interest rate 11.00% Equivalent market risk adjusted interest rates 11.60% Range of credit risk adjusted yields 3.49% - 5.02% Equivalent credit risk adjusted yield 4.13% * The instrument is convertible into shares of the Company’s subsidiary, Oceanica, which is not a publicly-traded entity. Therefore, its shares do not trade on a public exchange. As a result, the underlying value was originally based on private sales of the subsidiary’s shares because that was the best indicator of the value of the shares in the past. The last sale of Oceanica’s shares in which a private investor accumulated 24% of the shares of which their last purchase price was for $2.50 per share in December 2013. Accordingly, the underlying price used in the past in the MCS calculations was the $2.50 for the inception dates and December 31, 2015. Being far removed from December 2013 while considering the modification in March 2016 of the new option price of $1.00 and other market conditions currently prevailing, management determined $1.25 to be representative of the per share fair value. ** On December 10, 2015, the term was extended to December 31, 2017. In March 2016, the term was extended to April 1, 2018. *** In March 2016, the purchase price of the share purchase options was modified to $1.00 per share. As a result of the re-pricing, the share purchase options became convertible into a fixed number of shares and no longer required measurement as derivative liabilities. The MCS were calculated for the instruments just prior to the modification on March 8, 2016.
2014 Share Purchase Option [Member]
Changes in Fair Value Inputs and Assumptions	The following table reflects the issuances of the Share Purchase Option derivatives and changes in fair value inputs and assumptions for these derivatives during the six months ended June 30, 2017 and 2016. For the six months ended 2017 2016 Balances at January 1 $ — $ 3,396,190 Issuances — — Modification (1,456,825 ) Changes in fair value inputs and assumptions reflected in income — (1,939,365 ) Balances at June 30 $ — $ —
Warrant Derivatives [Member]
Changes in Fair Value Inputs and Assumptions	The following table reflects the issuances of derivative warrants and changes in fair value related to the derivative warrants during the six months ended June 30, 2017 and 2016. Six months ended June 30, 2017 2016 Balances at January 1 $ — $ 6,226 Changes in fair value inputs and assumptions reflected in income — (2,335 ) Balances at June 30 $ — $ 3,891

Revenue Participation Rights (T

Revenue Participation Rights (Tables)	6 Months Ended
	Jun. 30, 2017
Revenue Recognition and Deferred Revenue [Abstract]
Participating Revenue Rights	The Company’s participating revenue rights consisted of the following at: June 30, 2017 December 31, 2016 “ Cambridge $ 825,000 $ 825,000 “ Seattle 62,500 62,500 Galt Resources, LLC (HMS Victory 3,756,250 3,756,250 Total revenue participation rights $ 4,643,750 $ 4,643,750

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Short-term investment maturity period				3 months
Restricted cash		$ 10,000		$ 10,000		$ 10,000
Capitalized cost of assets held for sale		$ 416,329		$ 416,329
Decrease in indebtedness	$ 650,000
Weighted average number of common shares outstanding		8,322,512	7,544,345	8,022,108	7,542,728
Redeemable preferred stock outstanding		0		0
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, estimated useful life				3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, estimated useful life				30 years

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share for in the Money Potential Common Shares (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Average market price during the period	$ 3.58	$ 3.08	$ 3.90	$ 3.35
Potential common shares excluded from EPS	317,443	494,973	309,922	494,973
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from EPS	5,315	4,089	6,706	4,717
Warrant Derivatives [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from EPS	2,010		11,691

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share for Out of Money Potential Common Shares (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	317,443	494,973	309,922	494,973
Stock Options with an Exercise Price of $3.59 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	7,521
Stock Options With an Exercise Price of $12.48 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	137,666	137,666	137,666	137,666
Stock Options With an Exercise Price of $12.84 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	4,167	4,167	4,167	4,167
Stock Options With an Exercise Price of $26.40 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	75,158	75,794	75,158	75,794
Stock Options With an Exercise Price of $32.76 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded		53,707		53,707
Stock Options With an Exercise Price of $34.68 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	73,765	74,265	73,765	74,265
Stock Options With an Exercise Price of $39.00 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	8,333	8,333	8,333	8,333
Stock Options With an Exercise Price of $41.16 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	833	833	833	833
Stock Options With an Exercise Price of $42.00 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	8,333	8,333	8,333	8,333
Stock Options With an Exercise Price of $46.80 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded	1,667	1,667	1,667	1,667
Stock Options With an Exercise Price of $43.20 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out of the money options and warrants excluded		130,208		130,208

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share for Out of Money Potential Common Shares (Parenthetical) (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock Options with an Exercise Price of $3.59 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	$ 3.59	$ 3.59	$ 3.59	$ 3.59
Stock Options With an Exercise Price of $12.48 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	12.48	12.48	12.48	12.48
Stock Options With an Exercise Price of $12.84 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	12.84	12.84	12.84	12.84
Stock Options With an Exercise Price of $26.40 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	26.40	26.40	26.40	26.40
Stock Options With an Exercise Price of $32.76 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	32.76	32.76	32.76	32.76
Stock Options With an Exercise Price of $34.68 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	34.68	34.68	34.68	34.68
Stock Options With an Exercise Price of $39.00 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	39	39	39	39
Stock Options With an Exercise Price of $41.16 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	41.16	41.16	41.16	41.16
Stock Options With an Exercise Price of $42.00 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	42	42	42	42
Stock Options With an Exercise Price of $46.80 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	46.80	46.80	46.80	46.80
Stock Options With an Exercise Price of $43.20 per Share [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options exercise price per share	$ 43.20	$ 43.20	$ 43.20	$ 43.20

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share, Unvested Restricted Stock Awards (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from EPS	317,443	494,973	309,922	494,973
Unvested Restricted Stock Awards Excluded from EPS [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from EPS	238,921	88,096	238,921	88,096

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accounting Policies [Abstract]
Net income (loss)	$ (1,916,885)	$ (1,858,778)	$ (4,116,148)	$ (1,774,133)
Numerator, basic and diluted net income (loss) available to stockholders	$ (1,916,885)	$ (1,858,778)	$ (4,116,148)	$ (1,774,133)
Shares used in computation - basic:
Weighted average common shares outstanding	8,322,512	7,544,345	8,022,108	7,542,728
Common shares outstanding for basic	8,322,512	7,544,345	8,022,108	7,542,728
Shares used in computation - diluted:
Common shares outstanding for basic	8,322,512	7,544,345	8,022,108	7,542,728
Shares used in computing diluted net income per share	8,322,512	7,544,345	8,022,108	7,542,728
Net (loss) per share - basic	$ (0.23)	$ (0.25)	$ (0.51)	$ (0.24)
Net (loss) per share - diluted	$ (0.23)	$ (0.25)	$ (0.51)	$ (0.24)

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserve for doubtful accounts receivable		$ (2,345,729)
Total accounts receivable, net	$ 285,378	473,806
Trade [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	1,389	2,569,108
Related Party [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	200,970	205,497
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 83,019	$ 44,930

Accounts Receivable - Additiona

Accounts Receivable - Additional Information (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves for doubtful accounts		$ 2,345,729
Accounts receivable, net	$ 285,378	473,806
Neptune Minerals, Inc. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves for doubtful accounts		2,345,729
Accounts receivable, net		0
Monaco [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 200,970	$ 205,497

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Monaco [Member] - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Accounts receivables	$ 200,970	$ 205,497
Operating payable	259,213	$ 267,824
Lease amount	$ 20,080

Investments in Unconsolidated36

Investments in Unconsolidated Entities - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2017	Dec. 31, 2012	Dec. 31, 2016
Chatham Rock Phosphate, Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Investment carrying value			$ 0
Deep sea mining exploratory services			$ 1,680,000
Shares received from CRP	141,884		9,320,348
Outstanding equity stake in CRP	1.00%
Neptune Minerals, Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage		14.00%
Investment carrying value		$ 0		$ 0
Neptune Minerals, Inc. [Member] | Common Class A [Member]
Schedule of Equity Method Investments [Line Items]
Shares owned		0
Neptune Minerals, Inc. [Member] | Common Class B Non Voting Shares [Member]
Schedule of Equity Method Investments [Line Items]
Current investment position in NMI		3,092,488
Aggregate number of shares converted		261,200
Neptune Minerals, Inc. [Member] | Series A Preferred Non Voting Shares [Member]
Schedule of Equity Method Investments [Line Items]
Current investment position in NMI		2,612
Dorado Ocean Resources, Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Loss from unconsolidated entity				$ 21,300,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017USD ($)
Income Taxes [Line Items]
Net deferred tax asset	$ 0
Income tax expense	0
Dividend from subsidiaries	$ 0.041
Estimated annual effective tax rate	25.14%
Effective tax rate	0.00%
Federal [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	$ 2,900,000
Net operating loss carryforwards subject to expiration	$ 157,200,000
Net operating loss carryforwards expiration year	2,025
Net operating loss carryforwards expiration year	2,035
Foreign [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	$ 3,100,000
Net operating loss carryforwards subject to expiration	$ 28,300,000

Income Taxes - Schedule of Chan

Income Taxes - Schedule of Change in Valuation Allowance (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Valuation allowance	$ 70,515,931	$ 69,481,041
Change in valuation allowance	$ 1,034,890

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Mar. 11, 2015	Jun. 30, 2017	May 31, 2017	Mar. 31, 2017	Mar. 24, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	May 10, 2012
Gain Contingencies [Line Items]
Required minimum market capitalization value					$ 35,000,000
Aggregate amount issuable										$ 8,000,000
Loan amount borrowed		$ 0
Cash and cash equivalents		$ 1,476,693		$ 1,500,000		$ 1,662,643	$ 1,832,166		$ 2,241,317
Working capital deficit				$ 26,800,000
Penelope Mining LLC [Member]
Gain Contingencies [Line Items]
Investment in convertible preferred stock	$ 101,000,000
Investment agreement period	3 years
MINOSA [Member]
Gain Contingencies [Line Items]
Amount of debt financed	$ 14,750,000
SMOM [Member]
Gain Contingencies [Line Items]
Aggregate amount issuable			$ 3,000,000
Loan amount borrowed			$ 3,000,000
Oceanica Resources S. de. R.L [Member]
Gain Contingencies [Line Items]
Grant and issuance of new equity shares								3,000,000
Contingent success fee								$ 200,000

Loans Payable - Schedule of Con

Loans Payable - Schedule of Consolidated Debt (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Loans payable	$ 24,609,440	$ 25,067,308
Loans Payable [Member] | Note1- Monaco 2014 [Member]
Debt Instrument [Line Items]
Loans payable	2,800,000	2,800,000
Loans Payable [Member] | Note 2 - Monaco 2016 [Member]
Debt Instrument [Line Items]
Loans payable	1,059,439	1,535,501
Loans Payable [Member] | Note 3 - MINOSA [Member]
Debt Instrument [Line Items]
Loans payable	14,750,001	14,750,001
Loans Payable [Member] | Note 4 - Epsilon [Member]
Debt Instrument [Line Items]
Loans payable	3,000,000	$ 5,981,806
Loans Payable [Member] | Note 5 - SMOM [Member]
Debt Instrument [Line Items]
Loans payable	$ 3,000,000

Loans Payable - Note 1 - Monaco

Loans Payable - Note 1 - Monaco 2014 - Additional Information (Detail) - USD ($)	Dec. 10, 2015	Aug. 14, 2014	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Mar. 31, 2016	Dec. 01, 2014	Oct. 01, 2014	Dec. 31, 2013	May 10, 2012
Debt Instrument [Line Items]
Aggregate amount issuable										$ 8,000,000
Loan amount borrowed			$ 0
Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Per share value of shares purchased by private investor									$ 2.50
Note1- Monaco 2014 [Member]
Debt Instrument [Line Items]
Aggregate amount issuable		$ 10,000,000
Interest rate, stated percentage		11.00%
Extinguishment of debt, amount	$ 2,200,000
Notes ceased to bear interest, amount	$ 5,000,000
Debt instrument maturity date	Dec. 31, 2017
Outstanding notes balance			2,800,000		$ 2,800,000
Long term notes			2,800,000
Amortization of components included in interest expense			$ 0	$ 0
Note1- Monaco 2014 [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Per share value of shares purchased by private investor		$ 3.15
Aggregate value of shares issued to lender		$ 1,000,000
Note1- Monaco 2014 [Member] | Oceanica Resources S. de. R.L [Member] | Loan Modification March Two Thousand Sixteen [Member]
Debt Instrument [Line Items]
Per share value of shares purchased by private investor						$ 1
Note1- Monaco 2014 [Member] | First Tranche [Member]
Debt Instrument [Line Items]
Loan amount borrowed		$ 5,000,000
Note1- Monaco 2014 [Member] | Second Tranche [Member]
Debt Instrument [Line Items]
Loan amount borrowed								$ 2,500,000
Note1- Monaco 2014 [Member] | Third Tranche [Member]
Debt Instrument [Line Items]
Loan amount borrowed							$ 2,500,000

Loans Payable - Note 2 - Monaco

Loans Payable - Note 2 - Monaco 2016 - Additional Information (Detail)	Dec. 10, 2015USD ($)	Mar. 31, 2016USD ($)Installment$ / sharesshares	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2013$ / shares	May 10, 2012USD ($)
Debt Instrument [Line Items]
Aggregate amount issuable										$ 8,000,000
Equipment carrying value			$ 16,738,898		$ 16,738,898			$ 17,188,699
Cash proceeds from sale of vessel					50,000	$ 200,000
Loans payable			24,609,440		24,609,440			25,067,308
Expected interest expenses			664,735	$ 596,287	1,379,631	$ 930,347
Marine Vessel [Member]
Debt Instrument [Line Items]
Cash proceeds from sale of vessel			650,000
Loans payable			650,000		650,000
Monaco Notes [Member]
Debt Instrument [Line Items]
Aggregate amount issuable			2,800,000		2,800,000
Expected interest expenses					0
Notes payable, carrying value			3,449,632		3,449,632
Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Per share value of shares purchased by private investor | $ / shares									$ 2.50
Note 2 [Member]
Debt Instrument [Line Items]
Aggregate amount issuable		$ 1,825,000					$ 1,825,000
Interest rate, stated percentage		10.00%
Debt instrument maturity date		Apr. 15, 2018
Outstanding notes balance							$ 1,175,000
Loans payable			650,000		650,000
Note 2 [Member] | Marine Vessel [Member]
Debt Instrument [Line Items]
Cash proceeds from sale of vessel			650,000
Note 2 [Member] | Monaco Notes [Member]
Debt Instrument [Line Items]
Aggregate amount issuable			2,800,000		2,800,000
Fair value			3,617,858		3,617,858
Equity component in loans payable			1,063,487		1,063,487
Note 2 [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Conversion price of Notes | $ / shares		$ 1
Note 2 [Member] | Exploraciones Oceanicas [Member]
Debt Instrument [Line Items]
Aggregate amount issuable		$ 18,000,000
Debt instrument maturity date		Sep. 25, 2015
Note 2 [Member] | Oceanica Marine Operations [Member]
Debt Instrument [Line Items]
Aggregate amount issuable		$ 9,300,000
Debt instrument term		30 days
Aggregate consideration payable		$ 1,800,000
Debt instrument number of installments | Installment		10
Installment amount of Notes		$ 750,000
Fair value								$ 0
Equipment carrying value		$ 900,000
Loan Modification [Member]
Debt Instrument [Line Items]
Conversion price of Notes | $ / shares		$ 1
Loans payable		$ 2,800,000
BCF amount recorded					$ 456,250
Expected interest expenses			117,716	50,472
Accrued interest			$ 29,294	$ 45,500
Loan Modification [Member] | First Tranche [Member]
Debt Instrument [Line Items]
Call option	$ 5,000,000
Agreement description					Monaco agreed to cease interest as of December 10, 2015 and reduce the loan balance by (i) the cash or other value received by Monaco from the SS Central America shipwreck project (“SSCA”) or (ii) if the proceeds received by Monaco from the SSCA project are insufficient to pay off the loan balance by December 31, 2017, then Monaco can seek repayment of the remaining outstanding balance on the loan by withholding Odyssey’s 21.25% “additional consideration” in new shipwreck projects performed for Monaco in the future.
Additional consideration percentage	21.25%
Loan Modification [Member] | Second Tranche [Member]
Debt Instrument [Line Items]
Aggregate amount issuable	$ 300,000
Debt instrument maturity date	Dec. 31, 2017
Call option	$ 2,500,000
Reduced principal amount	$ 2,200,000
Loan Modification [Member] | Third Tranche [Member]
Debt Instrument [Line Items]
Debt instrument maturity date	Dec. 31, 2017
Call option	$ 2,500,000
Loan Modification [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Debt instrument maturity date					Dec. 31, 2017
Call option	$ 10,000,000
Equity component in loans payable		$ 3,174,603
Debt instrument, number of shares | shares		3,174,603
Debt instrument, value of shares		$ 3,174,603
Loan Modification [Member] | Monaco [Member]
Debt Instrument [Line Items]
Number of options eliminated under share purchase option | shares		3,174,603
Per share value of shares purchased by private investor | $ / shares		$ 3.15

Loans Payable - Summary of Fair

Loans Payable - Summary of Fair Value of Debt (Detail) - USD ($)	Jun. 30, 2017	Mar. 31, 2017	Mar. 31, 2016	May 10, 2012
Forward cash flows:
Principal				$ 8,000,000
Note 2 [Member]
Forward cash flows:
Principal		$ 1,825,000	$ 1,825,000
Monaco Notes [Member]
Forward cash flows:
Principal	$ 2,800,000
Monaco Notes [Member] | Note 2 [Member]
Forward cash flows:
Principal	2,800,000
Interest	559,463
Total forward cash flows	3,359,463
Present value of forward cash flows	2,554,371
Fair value of equity conversion option	1,063,487
Fair value of debt	$ 3,617,858

Loans Payable - Summary of Sign

Loans Payable - Summary of Significant Conversion Option Valuation Inputs and Results (Detail) - After Modification [Member] - Binomial Lattice Process [Member] - Share Purchase Options Classified in Equity [Member]	6 Months Ended
	Jun. 30, 2017$ / shares
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Underlying price on valuation date	$ 1.25
Contractual conversion rate	$ 1
Contractual term to maturity	1 year 9 months 26 days
Implied expected term to maturity	1 year 9 months 26 days
Market volatility:
Equivalent volatilities	120.10%
Equivalent market risk adjusted interest rates	0.52%
Minimum [Member]
Market volatility:
Range of volatilities	96.00%
Risk free rates using zero coupon US Treasury Security rates	0.29%
Maximum [Member]
Market volatility:
Range of volatilities	154.00%
Risk free rates using zero coupon US Treasury Security rates	0.68%

Loans Payable - Summary of Debt

Loans Payable - Summary of Debt Premium (Detail) - USD ($)	Jun. 30, 2017	Mar. 31, 2017	Mar. 31, 2016	May 10, 2012
Forward cash flows:
Face value				$ 8,000,000
Monaco Notes [Member]
Forward cash flows:
Face value	$ 2,800,000
Note 2 [Member]
Forward cash flows:
Face value		$ 1,825,000	$ 1,825,000
Note 2 [Member] | Monaco Notes [Member]
Forward cash flows:
Face value	2,800,000
Fair value	3,617,858
Difference (premium)	$ 817,858

Loans Payable - Summary of De46

Loans Payable - Summary of Debt Premium (Parenthetical) (Detail) - USD ($)	Jun. 30, 2017	May 10, 2012
Debt Instrument [Line Items]
Face amount of new loans		$ 8,000,000
Monaco Notes [Member]
Debt Instrument [Line Items]
Face amount of new loans	$ 2,800,000
Monaco Notes [Member] | Paid-in Capital [Member]
Debt Instrument [Line Items]
Debt premium recorded to additional paid-in capital	$ 817,858

Loans Payable - Summary of Gain

Loans Payable - Summary of Gain or Loss Upon Extinguishment Allocation (Detail) - Note 2 - Monaco 2016 [Member]	6 Months Ended
	Jun. 30, 2017USD ($)
Extinguishment of Debt [Line Items]
Difference to APIC	$ 1,211,811
Derivative Liabilities (Share Purchase Options) [Member]
Extinguishment of Debt [Line Items]
Difference to APIC	1,456,825
Monaco Loan (Old Debt) [Member]
Extinguishment of Debt [Line Items]
Difference to APIC	3,372,844
Monaco Loan (New Debt) [Member]
Extinguishment of Debt [Line Items]
Difference to APIC	(2,800,000)
Paid-in Capital [Member] | Premium [Member]
Extinguishment of Debt [Line Items]
Difference to APIC	$ (817,858)

Loans Payable - Note 3 - MINOSA

Loans Payable - Note 3 - MINOSA - Additional Information (Detail)	4 Months Ended	6 Months Ended
	Jun. 30, 2015Tranches	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 11, 2015USD ($)	May 10, 2012USD ($)
Debt Instrument [Line Items]
Promissory note face amount					$ 8,000,000
Oceanica Call Option [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Derivative, fixed value		$ 40,000,000
Promissory Note [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Promissory note outstanding amount		14,750,001
Promissory Note [Member] | Deferred Income Call Option [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Promissory note outstanding amount		383,148
Debt discount amount		$ 383,148
MINOSA [Member] | Promissory Note [Member]
Debt Instrument [Line Items]
Estimated market rate loan percentage		15.00%
MINOSA [Member] | Stock Purchase Agreement [Member] | Oceanica Call Option [Member] | Oceanica Resources S. de. R.L [Member]
Debt Instrument [Line Items]
Share purchase agreement expiration date		Mar. 30, 2016
Stock granted during period, value		$ 40,000,000
Stock granted during period, percentage		54.00%
Call option expiration date		Mar. 11, 2016
MINOSA [Member] | Stock Purchase Agreement [Member] | Promissory Note [Member]
Debt Instrument [Line Items]
Promissory note face amount				$ 14,750,000
Number of advances | Tranches	5
Interest rate, stated percentage		8.00%
Promissory note outstanding amount		$ 14,750,000	$ 14,750,000
Debt instrument maturity date		Mar. 18, 2017

Loans Payable - Schedule of All

Loans Payable - Schedule of Allocation of Cash Proceeds to Derivative Components at their Fair Values - Promissory Note (Detail) - Promissory Note [Member] - Oceanica Resources S. de. R.L [Member]	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Cash proceeds	$ 14,750,001
Deferred Income Call Option [Member]
Debt Instrument [Line Items]
Cash proceeds	383,148
2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	14,366,853
First Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	2,000,000
First Tranche [Member] | Deferred Income Call Option [Member]
Debt Instrument [Line Items]
Cash proceeds	67,241
First Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	1,932,759
Second Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	6,000,000
Second Tranche [Member] | Deferred Income Call Option [Member]
Debt Instrument [Line Items]
Cash proceeds	173,659
Second Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	5,826,341
Third Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	3,000,000
Third Tranche [Member] | Deferred Income Call Option [Member]
Debt Instrument [Line Items]
Cash proceeds	75,828
Third Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	2,924,172
Fourth Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	2,000,000
Fourth Tranche [Member] | Deferred Income Call Option [Member]
Debt Instrument [Line Items]
Cash proceeds	39,911
Fourth Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	1,960,089
Fifth Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	17,500,001
Fifth Tranche [Member] | Deferred Income Call Option [Member]
Debt Instrument [Line Items]
Cash proceeds	26,509
Fifth Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	$ 1,723,492

Loans Payable - Note 4 - Epsilo

Loans Payable - Note 4 - Epsilon - Additional Information (Detail)	Apr. 10, 2017USD ($)shares	Mar. 21, 2017USD ($)shares	Dec. 15, 2016$ / sharesshares	Nov. 15, 2016$ / sharesshares	Oct. 16, 2016$ / sharesshares	Oct. 01, 2016USD ($)Days$ / sharesshares	Mar. 18, 2016USD ($)Days$ / sharesshares	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2016$ / shares	May 10, 2012USD ($)
Debt Instrument [Line Items]
Aggregate amount issuable														$ 8,000,000
Warrant right exercise price | $ / shares								$ 3.52		$ 3.52			$ 1
Aggregate fair value of warrants								$ 303,712		$ 303,712
Interest expenses								664,735	$ 596,287	1,379,631	$ 930,347
Amount of loan outstanding								0		0
Epsilon Acquisitions, LLC [Member]
Debt Instrument [Line Items]
Accrued interest								83,151	78,547
Inducement expense								303,712		$ 303,712
Interest expenses								0	$ 23,472
Notes Payable, Other Payables [Member] | Third Tranche [Member]
Debt Instrument [Line Items]
Conversion price of Notes | $ / shares					$ 3.52
Conversion of stock, shares Issued | shares					1,000,000
Notes Payable, Other Payables [Member] | Fourth Tranche [Member]
Debt Instrument [Line Items]
Conversion price of Notes | $ / shares				$ 4.19
Conversion of stock, shares Issued | shares				1,000,000
Notes Payable, Other Payables [Member] | Fifth Tranche [Member]
Debt Instrument [Line Items]
Conversion price of Notes | $ / shares			$ 4.13
Conversion of stock, shares Issued | shares			1,000,000
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member]
Debt Instrument [Line Items]
Aggregate amount issuable		$ 6,000,000				$ 3,000,000	$ 3,000,000
Installment amount of Notes							$ 1,500,000
Interest rate, stated percentage						10.00%	10.00%
Notes security description										We granted security interests to Epsilon in (a) the 54 million cuotas (a unit of ownership under Panamanian law) of Oceanica Resources S. de R.L. ("Oceanica") held by our wholly owned subsidiary, Odyssey Marine Enterprises, Ltd. ("OME"), (b) all notes and other receivables from Oceanica and its subsidiary owed to the Odyssey Pledgors, and (c) all of the outstanding equity in OME.
Conversion price of Notes | $ / shares						$ 5	$ 5
Conversion price of Notes upon default | $ / shares							$ 2.50
Debt instrument maturity date						Mar. 18, 2017	Mar. 18, 2017
Security deposit liability							$ 54,000,000
Number of trading days | Days						75	75
Lender's out of pocket costs								50,000		$ 50,000
Accrued interest								$ 302,274
Conversion of stock, shares Issued | shares	670,455	670,455						670,455
Beneficial conversion feature recorded										96,000
Principal balance of debt		$ 6,050,000						$ 3,000,000		$ 3,000,000
Debt conversion amount												$ 2,000,000
Common stock purchase warrant | shares						120,000
Warrant right exercise price | $ / shares						$ 3.52
Warrant Expiration Date										Oct. 1, 2021
Warrant right exercise price description										Warrant shall be the number determined by multiplying 120,000 by a fraction, (a) the numerator of which is the aggregate principal amount of advances that have been extended to the OME by Epsilon pursuant to the Restated Note Purchase Agreement on or after the date of the Warrant and prior to the date of such failure and (b) the denominator of which is $3.0 million.
Equity component in loans payable		3,000,000
Amount of loan outstanding		$ 3,000,000
Notes Payable, Other Payables [Member] | Epsilon Acquisitions, LLC [Member] | Maximum [Member] | Tranche [Member]
Debt Instrument [Line Items]
Accrued interest	$ 302,274
Conversion of stock, shares Issued | shares						1,388,769
Notes Payable, Other Payables [Member] | MINOSA [Member]
Debt Instrument [Line Items]
Aggregate amount issuable							$ 14,750,000
Debt Instrument, acceleration clause description										The indebtedness may be accelerated upon the occurrence of specified events of default including (a) OME’s failure to pay any amount payable on the date due and payable; (b) OME or we fail to perform or observe any term, covenant, or agreement in the Purchase Agreement or the related documents, subject to a five-day cure period; (c) an event of default or material breach by OME, us or any of our affiliates under any of the other loan documents shall have occurred and all grace periods, if any, applicable thereto shall have expired; (d) the Stock Purchase Agreement shall have been terminated; (e) specified dissolution, liquidation, insolvency, bankruptcy, reorganization, or similar cases or actions are commenced by or against OME or any of its subsidiaries, in specified circumstances unless dismissed or stayed within 60 days; (f) the entry of judgment or award against OME or any of its subsidiaries in excess or $100,000; and (g) a change in control (as defined in the Purchase Agreement) occurs.
Debt instrument, number of shares | shares							100,000

Loans Payable - Schedule of A51

Loans Payable - Schedule of Allocation of Cash Proceeds to Derivative Components at their Fair Values - Additional Tranches (Detail) - Promissory Note [Member] - Epsilon Acquisitions, LLC [Member]	Jun. 30, 2017USD ($)
Third Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	$ 1,000,000
Third Tranche [Member] | Beneficial Conversion Feature ("BCF") [Member]
Debt Instrument [Line Items]
Cash proceeds	18,204
Third Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	981,796
Fourth Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	1,000,000
Fourth Tranche [Member] | Beneficial Conversion Feature ("BCF") [Member]
Debt Instrument [Line Items]
Cash proceeds	60,065
Fourth Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	939,935
Fifth Tranche [Member]
Debt Instrument [Line Items]
Cash proceeds	1,000,000
Fifth Tranche [Member] | 2014 Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Cash proceeds	$ 1,000,000

Loans Payable - Note 5 - SMOM -

Loans Payable - Note 5 - SMOM - Additional Information (Detail) - USD ($)	May 04, 2017	May 10, 2012
Debt Instrument [Line Items]
Aggregate amount issuable		$ 8,000,000
Note 5 - SMOM [Member]
Debt Instrument [Line Items]
Aggregate amount issuable	$ 3,000,000
Interest rate, stated percentage	10.00%
Annual Principal Payment	$ 500,000
Note 5 - SMOM [Member] | Neptune Minerals, Inc. [Member]
Debt Instrument [Line Items]
Accounts receivable assigned for loan	50.00%
Accounts receivable, gross	$ 0
Note 5 - SMOM [Member] | Aldama Mining Company, S.de R.L. de C.V [Member]
Debt Instrument [Line Items]
Percentage of equity interest	10.00%
Value of equity interest	$ 1,000,000
Note 5 - SMOM [Member] | Aldama Mining Company, S.de R.L. de C.V [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage of equity interest	50.00%

Stockholders' Equity (Deficit53

Stockholders' Equity (Deficit) - Additional Information (Detail)	Feb. 09, 2016	Jun. 09, 2015USD ($)shares	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2017USD ($)DaysIncentive_Plan$ / sharesshares	Jun. 30, 2016USD ($)	Dec. 31, 2016$ / sharesshares	Mar. 31, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split, conversion ratio	0.50000	0.16666			0.08333
Common stock shares authorized			75,000,000		75,000,000		75,000,000
Common stock, par value | $ / shares			$ 0.0001		$ 0.0001		$ 0.0001
Preferred stock, par value | $ / shares			$ 0.0001		$ 0.0001		$ 0.0001
Preferred stock, shares authorized			24,984,166		24,984,166		24,984,166
Number of warrants			120,000		120,000
Warrants, exercise price | $ / shares			$ 3.52		$ 3.52			$ 1
Warrants, expiration date					Jan. 10, 2021
Number of stock incentive plans | Incentive_Plan					2
Stock incentive plan expiration date					Aug. 31, 2015
Share-based compensation | $			$ 208,497	$ 416,993	$ 357,872	$ 692,501
Weighted average fair value of options granted | $ / shares			$ 0	$ 0
2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for stock-based compensation		450,000
Board Of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split ratio					1-for-2
Series AA-2 Convertible Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, par value | $ / shares			$ 0.0001		$ 0.0001
Preferred stock, shares authorized			7,223,145		7,223,145
Series AA-2 Convertible Preferred Stock [Member] | Penelope Mining LLC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of trading days | Days					20
Series AA-1 Convertible Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, par value | $ / shares			$ 0.0001		$ 0.0001
Preferred stock, shares authorized			8,427,004		8,427,004
Preferred stock Liquidation preference accretion rate							8.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares authorized			150,000,000		150,000,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares authorized			75,000,000		75,000,000
Minimum [Member] | Series AA-2 Convertible Preferred Stock [Member] | Penelope Mining LLC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of common stock | $ / shares					$ 15.12
Incentive Stock Options [Member] | 2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for stock-based compensation		450,000
Additional shares authorized for stock-based compensation					200,000
Common Stock [Member] | Incentive Stock Options [Member] | 2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of incentive option granted					With respect to each grant of an ISO to a participant who is not a ten percent stockholder, the exercise price shall not be less than the fair market value of a share on the date the ISO is granted. With respect to each grant of an ISO to a participant who is a ten percent stockholder, the exercise price shall not be less than one hundred ten percent (110%) of the fair market value of a share on the date the ISO is granted.
Maximum aggregate number of Shares with respect to one or more Awards that may be granted to any one person during any calendar year		83,333
Maximum aggregate amount of cash that may be paid in cash to any person during any calendar year | $		$ 2,000,000
Common Stock [Member] | Incentive Stock Options [Member] | Minimum [Member] | 2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Eligible employee threshold percentage					10.00%
Purchase price of common stock percentage					110.00%

Stockholders' Equity (Deficit54

Stockholders' Equity (Deficit) - Summary of Preferred Stock Allocated to Investors (Detail) - Penelope Mining LLC [Member]	Jun. 30, 2017USD ($)$ / sharesshares
Preferred Stock [Line Items]
Shares | shares	15,650,149
Total Investment | $	$ 144,462,918
Series AA-1 Convertible Preferred Stock [Member]
Preferred Stock [Line Items]
Shares | shares	8,427,004
Price Per Share | $ / shares	$ 12
Total Investment | $	$ 101,124,048
Series AA-2 Convertible Preferred Stock [Member]
Preferred Stock [Line Items]
Shares | shares	7,223,145
Price Per Share | $ / shares	$ 6
Total Investment | $	$ 43,338,870

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017USD ($)Institution
Debt Disclosure [Abstract]
Uninsured cash balance	$ 1,200,000
Number of financial institutions in which cash is deposited | Institution	1
Amount of loan outstanding	$ 0

Derivative Financial Instrume56

Derivative Financial Instruments - Changes in Fair Values of Derivative Liabilities (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Derivative [Line Items]
Derivative income (expense)	$ 61,051	$ 3,398,525
Total derivative income (expense)	61,051	3,398,525
Warrant Derivatives [Member]
Derivative [Line Items]
Derivative income (expense)	$ 61,051	2,335
2014 Convertible Promissory Notes [Member]
Derivative [Line Items]
Derivative income (expense)		$ 3,396,190

Derivative Financial Instrume57

Derivative Financial Instruments - Significant Assumptions Utilized in Valuation Technique (Detail) - $ / shares	Mar. 08, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 01, 2014	Oct. 01, 2014	Aug. 14, 2014	Dec. 31, 2013
Derivative [Line Items]
Underlying price on valuation date		$ 1.25	$ 2.50	$ 2.50	$ 2.50	$ 2.50	$ 2.50
Monte Carlo Simulations [Member] | Monaco Notes [Member] | First Tranche [Member]
Derivative [Line Items]
Underlying price on valuation date	$ 1.25
Contractual conversion rate	$ 3.15
Contractual term to maturity	1 year 9 months 26 days
Implied expected term to maturity	1 year 2 months 27 days
Market volatility:
Range of equivalent volatilities	120.10%
Contractual interest rate	11.00%
Range of equivalent market risk adjusted interest rates	11.60%
Range of equivalent credit risk adjusted yields	4.13%
Range of equivalent credit risk adjusted yields	4.13%
Monte Carlo Simulations [Member] | Monaco Notes [Member] | Second Tranche [Member]
Derivative [Line Items]
Underlying price on valuation date	$ 1.25
Contractual conversion rate	$ 3.15
Contractual term to maturity	1 year 9 months 26 days
Implied expected term to maturity	1 year 2 months 27 days
Market volatility:
Range of equivalent volatilities	120.10%
Contractual interest rate	11.00%
Range of equivalent market risk adjusted interest rates	11.60%
Range of equivalent credit risk adjusted yields	4.13%
Range of equivalent credit risk adjusted yields	4.13%
Monte Carlo Simulations [Member] | Monaco Notes [Member] | Third Tranche [Member]
Derivative [Line Items]
Underlying price on valuation date	$ 1.25
Contractual conversion rate	$ 3.15
Contractual term to maturity	1 year 9 months 26 days
Implied expected term to maturity	1 year 2 months 27 days
Market volatility:
Range of equivalent volatilities	120.10%
Contractual interest rate	11.00%
Range of equivalent market risk adjusted interest rates	11.60%
Range of equivalent credit risk adjusted yields	4.13%
Range of equivalent credit risk adjusted yields	4.13%
Minimum [Member] | Monte Carlo Simulations [Member] | Monaco Notes [Member] | First Tranche [Member]
Market volatility:
Range of volatilities	96.00%
Range of equivalent credit risk adjusted yields	3.49%
Range of equivalent credit risk adjusted yields	3.49%
Minimum [Member] | Monte Carlo Simulations [Member] | Monaco Notes [Member] | Second Tranche [Member]
Market volatility:
Range of volatilities	96.00%
Range of equivalent credit risk adjusted yields	3.49%
Range of equivalent credit risk adjusted yields	3.49%
Minimum [Member] | Monte Carlo Simulations [Member] | Monaco Notes [Member] | Third Tranche [Member]
Market volatility:
Range of volatilities	96.00%
Range of equivalent credit risk adjusted yields	3.49%
Range of equivalent credit risk adjusted yields	3.49%
Maximum [Member] | Monte Carlo Simulations [Member] | Monaco Notes [Member] | First Tranche [Member]
Market volatility:
Range of volatilities	154.00%
Range of equivalent credit risk adjusted yields	5.02%
Range of equivalent credit risk adjusted yields	5.02%
Maximum [Member] | Monte Carlo Simulations [Member] | Monaco Notes [Member] | Second Tranche [Member]
Market volatility:
Range of volatilities	154.00%
Range of equivalent credit risk adjusted yields	5.02%
Range of equivalent credit risk adjusted yields	5.02%
Maximum [Member] | Monte Carlo Simulations [Member] | Monaco Notes [Member] | Third Tranche [Member]
Market volatility:
Range of volatilities	154.00%
Range of equivalent credit risk adjusted yields	5.02%
Range of equivalent credit risk adjusted yields	5.02%

Derivative Financial Instrume58

Derivative Financial Instruments - Significant Assumptions Utilized in Valuation Technique (Parenthetical) (Detail) - $ / shares	Mar. 31, 2016	Dec. 31, 2013	Jun. 30, 2017	Dec. 31, 2015	Dec. 01, 2014	Oct. 01, 2014	Aug. 14, 2014
Derivative [Line Items]
Underlying price on valuation date	$ 1.25	$ 2.50		$ 2.50	$ 2.50	$ 2.50	$ 2.50
New option price	1		$ 3.52
Purchase price of the share purchase options	$ 1
Oceanica Resources S. de. R.L [Member]
Derivative [Line Items]
Percentage of shares purchased by private investor		24.00%
Per share value of shares purchased by private investor		$ 2.50

Derivative Financial Instrume59

Derivative Financial Instruments - Changes in Fair Value Inputs and Assumptions Related to Share Purchase Option (Detail) - 2014 Share Purchase Option [Member] - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Derivative [Line Items]
Balances at January 1		$ 3,396,190
Issuances	$ 0	0
Modification		(1,456,825)
Changes in fair value inputs and assumptions reflected in income		$ (1,939,365)

Derivative Financial Instrume60

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2017	Apr. 13, 2014	Oct. 11, 2013	May 10, 2012	Nov. 08, 2011	Apr. 08, 2011	Oct. 11, 2010
Derivative [Line Items]
Warrants issued to acquire common shares				21,701	108,507		150,000
Shares available for issuance upon exercise				36,169	36,169
Face amount of new loans				$ 8,000,000
Senior Convertible Notes [Member]
Derivative [Line Items]
Warrants exercisable date	Apr. 13, 2014
Warrants Attached to Series G Preferred Stock [Member]
Derivative [Line Items]
Warrants issued to acquire common shares						43,750
Warrants exercisable date	Apr. 13, 2014
Warrants Attached to Senior Convertible Debt [Member]
Derivative [Line Items]
Warrants issued to acquire common shares					108,507
Common Stock [Member] | Senior Convertible Notes [Member]
Derivative [Line Items]
Linked common shares		130,208
Common Stock [Member] | Level 3 [Member]
Derivative [Line Items]
Linked common shares			143,750
Warrants exercisable date	Oct. 11, 2013
Common Stock [Member] | Warrants Attached to Series G Preferred Stock [Member]
Derivative [Line Items]
Linked common shares		43,750

Derivative Financial Instrume61

Derivative Financial Instruments - Changes in Fair Value Related to Derivative Warrants (Detail) - Warrant Derivatives [Member]	6 Months Ended
	Jun. 30, 2016USD ($)
Derivative [Line Items]
Balances at January 1	$ 6,226
Changes in fair value inputs and assumptions reflected in income	(2,335)
Balances at June 30	$ 3,891

Revenue Participation Rights -

Revenue Participation Rights - Participating Revenue Rights (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Deferred Revenue Arrangement [Line Items]
Revenue participation rights	$ 4,643,750	$ 4,643,750
"Cambridge" Project [Member]
Deferred Revenue Arrangement [Line Items]
Revenue participation rights	825,000	825,000
"Seattle" Project [Member]
Deferred Revenue Arrangement [Line Items]
Revenue participation rights	62,500	62,500
Galt Resources, LLC (HMS Victory project) [Member]
Deferred Revenue Arrangement [Line Items]
Revenue participation rights	$ 3,756,250	$ 3,756,250

Revenue Participation Rights 63

Revenue Participation Rights - Additional Information (Detail)	1 Months Ended	6 Months Ended
	Feb. 28, 2011USD ($)	Jun. 30, 2017USD ($)ProjectInvestment$ / Securityshares
Deferred Revenue Arrangement [Line Items]
Revenue participation agreement		$ 15,000,000
"Seattle" Project [Member]
Deferred Revenue Arrangement [Line Items]
Percentage of revenue owed to certificate holder per each million invested		1.00%
Common shares issued per unit | shares		100,000
Galt Resources, LLC [Member]
Deferred Revenue Arrangement [Line Items]
Percentage of revenue owed to certificate holders		50.00%
Percentage of revenue owed to certificate holder per each million invested		1.00%
Investment multiplier in case of project success | Investment		3
Projects after bifurcation | Project		2
Galt Resources, LLC [Member] | SS Gairsoppa [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenue		$ 3,756,250
Galt Resources, LLC [Member] | Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Investment for future revenue rights	$ 7,512,500
HMS Victory Project [Member]
Deferred Revenue Arrangement [Line Items]
Percentage of revenue owed to certificate holders		7.5125%
Revenue Participation Certificates [Member] | "Cambridge" Project [Member]
Deferred Revenue Arrangement [Line Items]
Revenue participation certificates per unit value | $ / Security		50,000
Revenue Participation Certificates [Member] | "Seattle" Project [Member]
Deferred Revenue Arrangement [Line Items]
Revenue participation certificates per unit value | $ / Security		50,000
First Payment [Member] | "Cambridge" Project [Member]
Deferred Revenue Arrangement [Line Items]
Percentage of revenue owed to certificate holders		100.00%
Revenue owed to certificate holder		$ 825,000
Second Payment [Member] | "Cambridge" Project [Member]
Deferred Revenue Arrangement [Line Items]
Percentage of revenue owed to certificate holders		24.75%
Second Payment [Member] | "Cambridge" Project [Member] | Minimum [Member]
Deferred Revenue Arrangement [Line Items]
Revenue owed to certificate holder		$ 4,000,000
Second Payment [Member] | "Cambridge" Project [Member] | Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Revenue owed to certificate holder		$ 35,000,000
Third Payment [Member] | "Cambridge" Project [Member]
Deferred Revenue Arrangement [Line Items]
Percentage of revenue owed to certificate holders		12.375%
Revenue owed to certificate holder		$ 35,000,000