Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

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:

	Year ended December 31, 2023		Year ended December 31, 2022 (As Restated)
Net income (loss) attributable to Odyssey Marine Exploration, Inc.	$	5,345,819	$	(22,079,859	)
Numerator:
Basic net income (loss)	$	5,345,819	$	(22,079,859	)
Diluted net income (loss) available to stockholders	$	5,341,008	$	(22,079,859	)
Denominator:
Weighted average common shares outstanding – Basic		19,943,633		17,310,915
Dilutive effect of options		5,557		—
Dilutive effect of warrants		169,687		—
Dilutive effect of other convertible securities		—		—
Weighted average common shares outstanding – Diluted		20,118,877		17,310,915
Net (loss) income per share – basic	$	0.27	$	(1.28	)
Net (loss) income per share – diluted	$	0.27	$	(1.28	)

Summarize Our Fair Value Hierarchy For Our Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables summarize our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022:

	December 31, 2023
	Level 1		Level 2		Level 3		Total Balance
Liabilities:
37N Note embedded derivative	$	—	$	—	$	702,291	$	702,291
Put option liability		—		—		5,637,162		5,637,162
Litigation financing						52,115,647		52,115,647
Warrant liabilities issued with debt (December 2023 Warrants)						2,392,563		2,392,563
Warrant liabilities issued with equity (2022 Warrants)						13,399,822		13,399,822
Total of fair valued liabilities	$	—	$	—	$	74,247,485	$	74,247,485

	December 31, 2022 (As Restated)
	Level 1		Level 2		Level 3		Total Balance
Liabilities:
Warrant liabilities issued with equity (2022 Warrants)	$	—	$	—	$	13,602,467	$	13,602,467
Litigation Financing		—		—		45,368,948		45,368,948
Total of fair valued liabilities	$	—	$	—	$	58,971,415	$	58,971,415

Changes in our Level 3 fair value measurements

Changes in our Level 3 fair value measurements were as follows:

	37N Note embedded derivative			Put option liability		Litigation financing		Warrant liabilities issued with debt (December 2023 warrants)		Warrant liabilities issued with equity (2022 warrants)			Total
Balance as of January 1, 2022 (As Restated)		—			—		33,701,188		—		—			33,701,188
Change in fair value		—			—		6,286,172		—		3,628,373			9,914,545
Issuance of new instrument		—			—		—		—		9,974,094			9,974,094
Issuance of new funding		—			—		5,381,588		—		—			5,381,588
Year ended December 31, 2022 (As Restated)							45,368,948				13,602,467			58,971,415
Change in fair value		457,690			1,121,155		6,742,066		—		(18,045	)		8,302,866
Issuance of new instrument		423,696			4,516,007		—		2,392,563		—			7,332,266
Issuance of new funding		—			—		4,633		—		—			4,633
Warrants exercised		—			—		—		—		(184,600	)		(184,600	)
Debt conversion to equity		(179,095	)		—		—		—		—			(179,095	)
Year ended December 31, 2023		702,291			5,637,162		52,115,647		2,392,563		13,399,822			74,247,485

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 from outstanding options, restricted stock awards, convertible notes and other convertible securities that were excluded from the calculation of diluted EPS during periods due to having an anti-dilutive effect are:

	December 31, 2023		December 31, 2022 (As Restated)
Average market price during the period	$	3.47	$	4.22
Option awards		916,111		859,999
Unvested restricted stock awards		10,087		213,739
Convertible notes		462,628		—
Put Option Liability		4,063,759		—
Common Stock Warrant		7,948,176		8,392,466