Odyssey Marine Exploration (NasdaqCM: OMEX), pioneers in the field of deep-ocean shipwreck exploration, today reported full year 2009 financial results.

For the full year 2009, Odyssey reported revenues of $4.3 million, compared to $4.1 million in 2008 while operating expenses decreased $6.4 million from $29.1 million in 2008 to $22.7 million in 2009.

The Company reported a net loss of $18.6 million for the full year 2009, compared to a net loss of $24.8 million in 2008. The net loss per share for the full year 2009 was $0.33, compared to a net loss per share of $0.50 in 2008.

“We are pleased with the results of our 2009 operations, which despite some interesting challenges, saw some key strategic opportunities realized that I believe will have a profound effect on our business going forward. Several significant announcements made in late 2009 and early 2010 represent outstanding new opportunities for Odyssey, including the intention to syndicate multiple shipwreck projects with Robert Fraser & Partners that will mirror the structure of the “Enigma” project already executed. Taking into account expected revenue from multiple sources including these syndicated projects, we believe our current cash position is sufficient to fund operating cash flows through 2010, barring unforeseen circumstances,” said Odyssey CEO Greg Stemm.

“Also in 2009, we acquired a stake in a venture to pursue the exploration of deep-ocean gold and copper deposits. By providing our technical expertise and certain marine assets, we believe this will provide a lucrative future opportunity and is a natural extension to leverage our core competencies in deep-ocean exploration,” stated Stemm.

“In 2010, Odyssey will remain focused on continuing to strengthen our relations with several governments to conduct shipwreck searches with no upfront cost to taxpayers while returning cultural heritage and economic value to the governments. In September 2009, the UK Government awarded Odyssey a salvage award for the two cannon recovered from HMS Victory, while discussions continue to determine future plans for the site. The UK Government also awarded the exclusive salvage contract to Odyssey for the cargo of silver from the SS Gairsoppa,” continued Stemm. “We have a very ambitious operational schedule planned for 2010, with seven separate projects planned, utilizing at least three ships as well as some outstanding new deep ocean assets we have just acquired. We also have some interesting new technology on the drawing board that will extend our capabilities to a depth of 6,000 meters.”
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The Princeton University Numismatic Collection has acquired the Armenian Heritage Collection of ancient and medieval coins, adding a new strength to the University’s extensive numismatic research holdings.

The Armenian Heritage Collection was assembled to represent the various periods in the pre-modern age when Armenia produced its own coinage or made substantial contributions to the coinage of other powers, according to Princeton Curator of Numismatics Alan Stahl.

Stahl said the acquisition will provide scholars with access to significant materials to study early Armenian civilization, as well as provide new opportunities at Princeton to research ancient and medieval societies.

The earliest coins in the collection are those of the Artaxiad dynasty, which became the largest political power east of Rome in the first century B.C. The coins of most relevance to Princeton’s existing holdings are those minted in the reign of Tigranes the Great, who ruled from the Seleucid capital of Antioch-on-the-Orontes from 95 to 55 B.C.

“The coins of Tigranes from Antioch hold special interest for Princeton because University scholars led the excavations of the site in the 20th century and the University holds more than 30,000 coins found there in our collection,” Stahl said. “One of the great mysteries of the coins from these excavations is the lack of any in the name of Tigranes and the dearth of local municipal coins for the period of his reign.”

“The collection includes coins of three distinct periods, all of interest to the academic concerns of the University,” Stahl said.

Included in the collection are two large silver pieces of Tigranes the Great and 19 bronze coins in his name, as well as examples of rare coins featuring his successors. All of these coins follow the models of the Hellenistic world, with the portrait of the ruler on the front of the coin and a local deity on the back. The writing on the coins is in Greek.
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At the end of February 2010, Ira and Larry Goldberg Coins & Collectibles purchased England’s legendary King Edward VIII 1937 Proof Set for $2.1 Million (1,350,000 Pounds). This purchase was made in England with the assistance of noted English coin dealers Steve Fenton and Mark Rasmussen.

Considered the “Holy Grail” of English Milled Coinage, this is the only Proof Set of its kind in private hands, and all are in Gem Proof condition. This set has never before been seen outside of England.

Apparently, only four sets, plus a few minors, were minted; the Royal Mint has two of the sets, and another was broken up over 40 years ago, with a few of the coins occasionally appearing at auction.

King Edward the VIII abdicated the throne in December of 1936, after reigning for only 10 months, to marry the American divorcee Mrs. Willis Simpson, a commoner.

It is this King Edward VIIII quote that many school children have been taught to memorize: “I have found it impossible to carry the heavy burden of responsibility and to discharge my duties as King as I would wish to do without the help and support of the woman I love.”

The proof set was minted at the Royal Mint and dated 1937 to be issued on his coronation in January 1937, an event which never took place.

This particular set belonged to Mrs. R. Henry Norweb, whose husband was the American Ambassador to England.