UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
Odyssey Marine Exploration, Inc.
---------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.0001 par value per share
---------------------------------------------------------------------------
(Title of Class of Securities)
676118 10 2
---------------------------------------------------------------------------
(CUSIP Number)
James E. MacDougald
260 1st Avenue South, Suite 110
St. Petersburg, Florida 33701
(727) 823-9292
---------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
September 24, 2004
---------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a Statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box [ ]
1
SCHEDULE 13D
CUSIP No. 676118 10 2 Page 2 of 7 Pages
---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
---------------------------------------------------------------------------
MacDougald Family Limited Partnership
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
---------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(E):
---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
MacDougald Family Limited Partnership is organized as a Nevada
limited partnership.
---------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH 3,594,008
-------------------------------------
8 SHARED VOTING POWER
-------------------------------------
9 SOLE DISPOSITIVE POWER
3,594,008
-------------------------------------
10 SHARED DISPOSITIVE POWER
---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,594,008
---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES:
---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3%
---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------------------------------------------------------------------------
2
SCHEDULE 13D
CUSIP No. 676118 10 2 Page 3 of 7 Pages
---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MacDougald Management, Inc.
---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
---------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(E):
---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
MacDougald Management, Inc. is a Nevada corporation.
---------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH 3,594,008
-------------------------------------
8 SHARED VOTING POWER
-------------------------------------
9 SOLE VOTING POWER
3,594,008
-------------------------------------
10 SHARED DISPOSITIVE POWER
---------------------------------------------------------------------------
11 SOLE VOTING POWER
3,594,008
---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES:
---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3%
---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
---------------------------------------------------------------------------
3
SCHEDULE 13D
CUSIP No. 676118 10 2 Page 4 of 7 Pages
---------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James E. MacDougald
---------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
---------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(E):
---------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH 3,594,008
-------------------------------------
8 SHARED VOTING POWER
-------------------------------------
9 SOLE DISPOSITIVE POWER
3,594,008
-------------------------------------
10 SHARED DISPOSITIVE POWER
---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,594,008
---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES:
---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3%
---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------------------------------------------------------------------------
4
This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") hereby
amends and supplements the Schedule 13D originally filed with the
Securities and Exchange Commission (the "Commission") on March 9, 2001 (the
"Initial Schedule 13D") by MacDougald Family Limited Partnership, a Nevada
limited partnership ("MFLP"), MacDougald Management, Inc., a Nevada
corporation ("MMI"), and James E. MacDougald (collectively, the "Reporting
Persons"), as amended by Amendment No. 1 thereto filed on October 25, 2001
("Amendment No. 1"), Amendment No. 2 thereto filed on November 20, 2003
("Amendment No. 2"), and Amendment No. 3 thereto filed on September 23,
2004. This Amendment No. 4, together with the Initial Schedule 13D,
Amendment No. 1, Amendment No. 2, and Amendment No. 3 are referred to
collectively as the "Schedule 13D". The information set forth in Item 1
below is being included for reference purposes, but no change has occurred
with respect to such information. Unless otherwise defined herein, all
capitalized terms shall have the meanings ascribed to them in the Schedule
13D.
This Amendment No. 4 is being filed to report the sale by the
Reporting Persons of certain of the outstanding shares of Common Stock
(defined in Item 1 below) held by the Reporting Persons.
Item 1. Security of Issuer
This Amendment No. 4 relates to shares of common stock, $0.0001 par
value per share ("Common Stock"), of Odyssey Marine Exploration, Inc., a
Nevada corporation (the "Issuer"), whose principal executive offices are
located at 3604 Swann Avenue, Tampa, Florida 33609.
Item 4. Purpose of Transaction
This amendment is being filed to report the sale by MFLP of an
aggregate of 1,119,900 shares of Common Stock.
On September 24, 2004, MFLP sold 1,119,900 shares of Common Stock in
open market transactions, pursuant to an effective Registration Statement
on Form S-3 and the prospectus included therein.
With respect to its remaining holdings of Securities, MFLP will
continue to monitor its investment in, and ownership of, the Securities and
may, as result thereof, determine to sell, transfer, or exchange the
Securities to affiliates or third parties through private placements or
market sales, acquire additional Securities, warrants, or options, or
maintain its ownership position.
Except as indicated in the Schedule 13D, the Reporting Persons have
no plans or proposals which relate to or would result in:
(a) the acquisition by any person of additional securities of the
Issuer, or the disposition of securities of the Issuer;
(b) an extraordinary corporate transaction, such as a merger,
organization or liquidation, involving the Issuer or any of its
subsidiaries;
(c) a sale or transfer of a material amount of assets of the Issuer
or any of its subsidiaries;
(d) any change in the present board of directors or management of
the Issuer, including any plans or proposals to change the
number or term of directors or to fill any existing vacancies
on the board;
(e) any material change in the present capitalization or dividend
policy of the Issuer;
Page 5 of 7 Pages
(f) any other material change in the Issuer's business or corporate
structure;
(g) changes in the Issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person;
(h) causing a class of securities of the Issuer to be delisted from
a national securities exchange or to cease to be authorized to
be quoted in an inter-dealer quotation system of a registered
national securities association;
(i) a class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4) of
the Act; or
(j) any action similar to any of those enumerated above.
Item 5. Interest in Securities of Issuer
(a) As of the date of hereof, the Reporting Persons beneficially
own an aggregate of 3,594,008 shares of Common Stock, which
represents approximately 9.26% of the shares of Common Stock
which were outstanding as of May 31, 2004 (as reported by the
Issuer in its Quarterly Report on Form 10-QSB filed on July 15,
2004).
(b) For purposes of Section 13 of the Securities Act of 1933, as
amended, MMI may be deemed to control MFLP, and James E.
MacDougald may be deemed to control MMI and MFLP. Each of the
Reporting Persons may thus be considered to beneficially own
and to have sole voting and dispositive power with respect to
all the Securities beneficially owned by MFLP.
(c) The sales of the Common Stock by the Reporting Persons since
those reported in Amendment No. 3 the is set forth in Exhibit
11 attached hereto and which is incorporated by reference
herein.
Item 7. Material to Be Filed as Exhibits
Exhibit 11 Table of Transactions in the Common Stock by Reporting
Persons Since the Filing of Amendment No. 3.
Page 6 of 7 Pages
Signature
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
Dated: September 28, 2004 MACDOUGALD FAMILY
LIMITED PARTNERSHIP
By: MacDougald Management, Inc.
its General Partner
/s/James E. MacDougald
-----------------------------
James E. MacDougald,
President
Dated: September 28, 2004 MACDOUGALD MANAGEMENT,
INC.
/s/James E. MacDougald
---------------------------------
James E. MacDougald,
President
Dated: September 28, 2004
/s/James E. MacDougald
---------------------------------
James E. MacDougald (Individually)
Page 7 of 7 Pages
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
------ -----------------------
11 -- Table of Transactions in the Common Stock by Reporting
Persons Since the Filing of Amendment No. 3.
Exhibit 11
----------
TRANSACTIONS IN SHARES EFFECTED BY
REPORTING PERSONS SINCE THE FILING
OF AMENDMENT NO. 3 TO SCHEDULE 13D
Nature of Date of Transaction Number of Price Per
Name Transaction(1) (Trade Date) Shares Share
---- -------------- ------------ ------ -----
MacDougald Family Limited Sale 09/24/04 600,000 $2.10
Partnership
Sale 09/24/04 519,900 $2.10
____________________________
(1) Sales were effected in an open market transactions.