Meson Capital: Do Investors Know What Lies Beneath Surface Of Omex?

This report is a follow up to Meson Capital’s first 66-page report published October 31, 2013 which can be found at

Meson Capital: Do Investors Know What Lies Beneath Surface Of Omex?

“Odyssey Marine Exploration Inc (NASDAQ:OMEX)’s cynically deploying a few random nodes of truth to the end of evading the acknowledgement of an over-arching and regnant truth.” –Judge Steven D. Merryday in the Sept 25, 2013 ‘Black Swan’ ruling against Odyssey.

In response to our initial report, Odyssey Marine Exploration Inc (NASDAQ:OMEX) held a conference call November 5th, not open to general Q&A, where they refuted exactly ZERO of our factual statements

  • Here, we expose the public relations techniques used by Greg Stemm to try to discredit our research by taking our factual statements out of context.
  • OMEX failed to address our serious questions and management explanations do not hold up. For example, we include 3 sources indicating that Panamanian locals are not required to “satisfy regulatory framework” as Odyssey Marine Exploration Inc (NASDAQ:OMEX) has claimed.

Odyssey Marine Exploration Inc (NASDAQ:OMEX)’s most recent 10-Q filed November 12th has numerous revisions that we highlight including that Neptune Minerals, Inc. – claimed as a source of $108mm of “off balance sheet value” – now appears to be insolvent.

  • Neptune appears to have lost $25mm over the last fiscal year ended June 30, far greater than “a few million” that OMEX anticipated in their August 10-Q.
  • As of June 30, 2013, Neptune’s total accumulated deficit appears to be $49mm. This exceeds Neptune’s total equity raises, indicating insolvency: we believe NMI is worth zero.
  • Despite Neptune still being unable to pay its bills to Odyssey Marine Exploration Inc (NASDAQ:OMEX), OMEX lent an additional $500,000 to Neptune during the 3 month period ending Sept 30, 2013.
  • Further research into the Oceanica mining project also indicates to us this project is worthless: other claimed “world class” assets have a high failure rate, do not be deceived by this empty term.

Meson Capital: OMEX


Saved Articles

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Congrats! Are you a smart person?

We have an exclusive targeted & limited time offer for being a sophisticated and loyal reader.

ValueWalkPremium is a website and newsletter on the latest industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today and get our exclusive content for 40% off. This is our second biggest discount ever!!

Use coupon code VIP20 or click on the button below

Limited time offer only ENDS 4/30/2020 or after the next 40 subscribers take advantage whichever comes first – please do not share this discount with others