The United Nations Educational, Scientific and Cultural Organization (UNESCO) has estimated that there are over 3 million shipwrecks in the world. Odyssey's proprietary shipwreck database contains over 3,000 deep ocean shipwrecks that may contain valuable cargo.

The company has numerous shipwreck projects in various stages of development throughout the world. Since its inception, Odyssey has spent millions conducting research, acquiring technology and negotiating with ownership interests to identify shipwreck projects that meet the following criteria:

• The shipwreck must be in deep water minimizing the possibility that it has been broken up and covered by shifting sands or has been the object of previous recovery efforts.
  
  
• The research must indicate that the shipwreck was carrying enough intrinsically valuable cargo to pay for the high cost associated with deep-ocean recovery, conducted in accordance with high archaeological standards, and to provide an attractive return for the Company's investors and shareholders.
  
  
• The research must provide good navigational information concerning the sinking location in order to minimize the search area and provide a reasonable expectation that the wreck can be found.
  
  
• The issues relating to ownership of the shipwreck and its cargo must be resolved prior to beginning any recovery in order to minimize potential for litigation.