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
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.