ODYSSEY MARINE EXPLORATION, INC. (NASDAQ:OMEX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
On November14, 2017, Odyssey Marine Exploration, Inc. (the “Company”) was notified by the Listing Qualifications Staff of The NASDAQ Stock Market LLC (“NASDAQ”) that the Company did not satisfy the minimum $35million market value of listed securities requirement for the past 30 consecutive business days, as required for continued listing on The Nasdaq Capital Market under NASDAQ Listing Rule 5550(a). However, in accordance with the NASDAQ Listing Rules, the Company has been granted a 180-day period within which to regain compliance with the market capitalization requirement, through May14, 2018. In order to achieve compliance, the Company must evidence a market value of listed securities of at least $35million for a minimum of ten consecutive business days. The notice has no present impact on the listing of the Company’s securities on NASDAQ.
About ODYSSEY MARINE EXPLORATION, INC. (NASDAQ:OMEX)
Odyssey Marine Exploration, Inc. (Odyssey) is a deep-ocean exploration company. The Company’s techniques are applied to mineral exploration, shipwreck cargo recovery, and other marine survey and exploration charter services. The Company is engaged in discovering shipwreck sites in the deep ocean and conducting archaeological excavations with remotely operated vehicles (ROVs). Its shipwreck discoveries include the SS Republic, HMS Victory, Black Swan, La Marquise de Tourny and other unidentified shipwrecks. The Company offers exploration services, including geophysical and geotechnical assessments of seabed mineral deposits to companies, including its subsidiaries and companies, in which it holds an equity position, as a resource development partner. The Company evaluates or explores various types of seabed mineral deposits, such as phosphorites, polymetallic nodules and seafloor massive sulfides. Odyssey offers its marine exploration services to third-party companies.