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    Mike Malouf

    Research Analyst at Craig-Hallum Capital Group

    Mike Malouf's questions to ODYSSEY MARINE EXPLORATION (OMEX) leadership

    Mike Malouf's questions to ODYSSEY MARINE EXPLORATION (OMEX) leadership • Q2 2015

    Question

    Mike Malouf of Craig-Hallum Capital Group inquired about the company's current monthly cash burn rate, the status of the accounts receivable from the Oceanica project, and whether MINOSA's option to acquire Oceanica has been a topic of discussion.

    Answer

    CFO Philip Devine confirmed the monthly operating cash burn is under $2 million, highlighting significant cost reductions from the prior year. CEO and President Mark Gordon clarified that the Oceanica receivable is now a $16.3 million note due September 30, and the company will decide whether to collect cash or convert it to equity. Gordon also stated that MINOSA's intent is to partner via the equity transaction, not to acquire Oceanica.

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    Mike Malouf's questions to ODYSSEY MARINE EXPLORATION (OMEX) leadership • Q1 2015

    Question

    Mike Malouf of Craig-Hallum Capital Group inquired about Odyssey's current cash position, future cash flow projections, and the strategic rationale for targeting four shipwrecks simultaneously.

    Answer

    CFO Philip Devine detailed the current cash balance, noting the $9 million inflow from MINOSA subsequent to the quarter's end, and outlined future expected cash from the MINOSA deal, the SS Central America monetization, and an Oceanica subsidiary loan repayment. He also confirmed the monthly cash burn has been reduced from approximately $3 million to $2 million. CEO Mark Gordon explained that targeting a cluster of shipwrecks creates significant economies of scale, leveraging years of research and recent investments in deep-sea search technology.

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