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Henri Delauze and Odyssey co-founder Greg Stemm during search operations for HMS Sussex in the Western Mediterranean. The Rock of Gibraltar can be seen in the background.
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Odyssey co-founder John Morris and Henri Delauze during search operations for HMS Sussex.
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Special Thanks and Farewell to Henri Delauze
By John Morris
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We have known Henri Delauze for years and as founder of one of the world's premier deep-ocean companies, we often sought his sage advice in offshore operations and technology. As a favor to us, Henri Delauze joined Odyssey as a Director in October 2001. This sent a message to the offshore technology industry that Odyssey was a serious company and helped us in negotiating with advanced deep-ocean technology suppliers. At the time he joined, he offered to serve for two years to guide us in our acquisition of ships and ROV systems. He stayed on to help us as we ramped up the Odyssey Explorer and ZEUS for the Republic recovery.
As a resident of France, it has always been difficult for Henri to make it to our Directors' meetings here in the U.S. With the increased involvement demanded of Company Directors by Sarbanes-Oxley, it has been difficult for Henri to meet our demanding schedule or to sit on the committees required of our outside Directors.
Now that our ships, ROV and search systems are up and working and the company is profitable, Henri is stepping down as a Director.
It has been great having Henri along for the ride, and we look forward to working with him in the future on projects in his part of the world.
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The Company believes the information set forth in this Update may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors," and "Business" in the Company's annual report on Form 10KSB for the year ended February 29, 2004, which has been filed with the Securities and Exchange Commission.
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