Odyssey Marine Exploration Inc., a deep-sea treasure hunting venture based in Tampa, on Monday reported a quarterly loss as it continues trying to strike it rich from a shipwreck.
The company's loss widened to $5.2 million, or 9 cents a share, up from $3.1 million, or 5 cents a share, a year ago.
Revenue slumped to $2.1 million, down from $2.9 million, and mostly came from charter expeditions rather than artifact sales.
Odyssey, which has raised money from several stock offerings over the years, reported holding $6.2 million in cash as of March 31.
The company also reported that total compensation for Greg Stemm, chief executive officer, was $748,000 in 2010, down from $1.1 million in 2009.