TAMPA, Fla., Nov. 09, 2016 (GLOBE NEWSWIRE) — Odyssey Marine Exploration, Inc. (Nasdaq:OMEX), a pioneer in the field of deep-ocean exploration, reported results for the third quarter ended September 30, 2016.
Third Quarter 2016 Highlights
- Performed contracted offshore services for our shipwreck business partner, using Odyssey technology and marine personnel, resulting in revenue of $2.9 million.
- Increased revenue 98%, or $1.4 million, compared to the same quarter last year.
- Decreased net loss 53% to $2.1 million compared to $4.6 million in the same quarter last year.
- Increased the total amount of cash available to Odyssey from Epsilon Acquisitions to $6.0 million from $3.0 million through a revised debt instrument with no additional increase in collateral. Epsilon is an investment vehicle controlled by Mr. Alonso Ancira, who is the chairman of MINOSA’s parent company, AHMSA.
