Pump and Dump — Being Dumped Now (OMEX)

Big Chart OMEX

 

Read the financials: SEC-OMEX-1193125-13-326785  Who in their right mind would own this? Next, a detailed research report on the company (worth a read) omexreport.  Also, thanks to www.classicvalueinvestors.com

small omex

 

The company’s typical response:

November 1, 2013

Odyssey Marine Responds to Meson Capital “Short & Distort” Piece

TAMPA, Fla., Nov. 1, 2013 (GLOBE NEWSWIRE) — Yesterday afternoon, a commentary about Odyssey Marine Exploration, Inc. (Nasdaq:OMEX) was distributed by Ryan Morris of Meson Capital Partners LLC. The author never contacted the company for clarifications or answers to his questions. Had he done so, Odyssey would have pointed out factual errors, incomplete information and erroneous conclusions which are rebutted by Odyssey’s public filings and other publicly available information. Odyssey is confident its existing public disclosures are accurate in all material respects, and that the company has provided a clear and concise explanation of all material information about the company and its relationships with associated companies and individuals.

Odyssey’s management believes that it is in the best interest of our shareholders to remain focused on business rather than debating or responding to rumor and innuendo. However, due to the number of inquiries to the company, management felt it important to reaffirm and stand by the accuracy of all information which has been released by the company. It is also important for interested parties to carefully consider the statement the author made on the first page of his editorial attacking the company (emphasis added):

“You should assume that as of the publication date of our reports and research, Meson Capital Partners, LLC (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors has a short position in all stocks (and/or options, swaps, and other derivatives related to the stock) and bonds covered herein, and therefore stands to realize significant gains in the event that the price of either declines.”

The company believes this statement by the author, and the likelihood that this is part of an attempt to profit from a “short and distort” strategy, calls into question the motivation and intent behind the allegations as well as the timing of its release. Accordingly market authorities have been notified.  (CSInvesting: So any bullish research report from an author who owns stock should also be questioned.)

Next week Odyssey management plans to host a conference call to discuss corporate developments and to address the false and misleading statements and innuendo in the Meson Capital piece. The call date and dial-in instructions will be issued in a press release early next week.   (This might be FUN to listen to–see website address below)

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc. (Nasdaq:OMEX) is engaged in deep-ocean exploration using innovative methods and state of-the-art technology for shipwreck projects and mineral exploration. For additional details, please visit www.odysseymarine.com. The company also maintains a Facebook page at http://www.facebook.com/OdysseyMarine and a Twitter feed @OdysseyMarine.For additional details on Odyssey Marine Exploration, please visit www.odysseymarine.com.

CONTACT: MEDIA CONTACT:

It is always good to refresh yourself on WHAT NOT to invest in.

One response to “Pump and Dump — Being Dumped Now (OMEX)

  1. Treasure Hunter 81

    Greg Stemm, the co-founder and current CEO of Odyssey Marine Exploration, and John C. Morris, the co-founder of Odyssey Marine Exploration, were both sued by the Securities and Exchange Commission.

    It appears that Neptune Minerals is insolvent. Oceanica is extremely unlikely to get an environmental permit. Oceanica’s cofounding shareholder, DNA Ltd, Inc, is tied to a Panamanian entity whose principal members are connected to a number of alleged financial crimes – why did Odyssey Marine Exploration structure it this way?

    Isn’t it weird that Odyssey Marine Exploration has been unable to address any of the serious questions posed by concerned shareholders? It’s concerning that John Morris, the founder of Odyssey Marine, is currently being sued by members of Seagrass Recovery. Odyssey Marine Exploration and Neptune Minerals have been tied to brokerage firms with many FINRA sanctions, this is very alarming – would you invest in this company? Buyer beware.
    Odyssey Marine Exploration has disappointed 100% of the time on its estimated project recoveries, can you trust anything they say?

    Why does Odyssey Marine Exploration have opaque and unexplained offshore subsidiaries in the Bahamas and Panama? These are completely unnecessary for Odyssey’s operations.
    Based on its current cash reserves and negative cash flow Odyssey Marine Exploration could very well go bankrupt in 2014.

    Odyssey Marine Exploration was held in contempt of court after it lost the Blackswan case.
    World-class phosphate mining companies have previously evaluated and passed on the Oceanica asset – Odyssey is the only company interested in this uneconomic asset.
    Didn’t Odyssey’s chairman Brad Baker get exposed for signing on both sides of a deal?
    Why does Odyssey Marine Exploration use an auditor that has been sanctioned multiple times by the Public Company Accounting Oversight Board? Based on accurate historical records, there was never any secret army gold aboard the SS Central America.

    It’s alarming that Odyssey Marine Exploration started as a shell purchased by Timothy Brasel, who was later cited by an SEC civil action for stock manipulation. It’s shocking that the predecessor of Odyssey Marine Exploration, Seahawk, went bankrupt – but it’s even more shocking that every other reverse merger treasure hunting company (six in total!) have also gone bankrupt.

    It’s alarming that Odyssey Marine Exploration has lost nearly $200,000,000 of shareholder capital while insiders have personally made millions – how much longer can this continue?
    Isn’t it ironic that Odyssey Marine Exploration has posted enormous financial losses but CEO Greg Stemm makes enough money to afford five houses for himself and his family? That doesn’t seem fair at all. Why does Odyssey host closed conference calls in which only their investment bankers get to ask questions? Why won’t Odyssey answer questions from other shareholders? Are they hiding something?

    http://www.omextruth.com

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