Corporate Report: March 15

Time Inc. creating magazine for Bradenton convention, visitors bureau
The Bradenton Area Convention & Visitors Bureau has partnered with Time Inc. Content Solutions and Southern Living to create a lifestyle publication focused on Manatee County.

Created in the style of Southern Living, Destination Magazine will focus on illustrated stories about local favorites, hidden jewels and day trips.

“Time Inc. is helping us take our [visitor's] guide to another level,” Debbie Meihls, executive manager of the visitor's bureau, says in a press release. “Our new Destination Magazine has a lifestyle look and feel that can live on our visitors' coffee tables for years to come. It tells the story of who we are, and why it's so special to visit.”

The Destination Magazine will also be released as a digital iPad publication that features interactive content, including a Perfect Beach Finder quiz, videos, slideshows, maps and hot-linked listings.

Time Inc. Content Solutions is a wholly owned division of Time Inc., the world's largest publisher of magazines.

Provizion Optics launches new portable eye camera
The Ellenton-based company Provizion Optics has launched its newest portable fundus camera - the RevPro. Fundus cameras combine a specialized low-power microscope and attached camera. They are used by medical professionals to photograph the interior of eyes.

The new WiFi-enabled RevPro has an 11-Megapixel resolution, a view screen in the back of the unit, is tablet compatible and can work independently of a computer.

The camera was designed to be portable for use where a desktop camera system would be difficult to use including rural areas, nursing homes, third-world countries and veterinary practices.

Odyssey Marine Exploration sells 15% share of mineral subsidiary
Tampa-based Odyssey Marine Exploration Inc. sold its 15% interest in Oceanica Resources, S. de. R.L. to the investment group Mako Resources LLC for $15 million.

Oceanica Resources is a newly created Odyssey Marine subsidiary focused on seafloor mineral exploration. The young company controls exclusive permits in an offshore area that Odyssey Marine research indicates features valuable mineral resources.

Mako Resources purchased a total of 15 million Oceanica shares and options to buy an additional 15 million Oceanica shares at $2.50 per share before Dec. 31. If the investment group decides to exercise all of its options, the second purchase would cost $37.5 million.

Odyssey currently owns 62.6 million shares of Oceanica's 100 million shares outstanding. Odyssey executives also hold two of three seats on the Oceanica's board.

Greg Stemm, Odyssey's CEO, says the sale helps to validate Odyssey Marine's decision to diversify into offshore mineral exploration.
“We believe this sale also supports the potential value of our other offshore mineral interests and demonstrates how these assets can be monetized,” Stemm, says in a press release.

Odyssey plans to use the proceeds of the sale to fund its other exploration and recovery activity, including the planned silver recoveries from the SS Gairsoppa and SS Mantola, which are scheduled to start in May.

The new venture does not involve the company's equity positions in Neptune Minerals and Chatham Rock Phosphate, which are also both involved in separate seabed mineral projects.

MarineMax buys two stores in Florida from Parker Boat
Clearwater-based boat and yacht retailer MarineMax Inc. purchased Parker Boat Co.'s retail boat sales and service operations in Orlando and Daytona.

With this acquisition, MarineMax will now have exclusive distribution rights to the Sea Ray product line for the entire state of Florida as well as additional distribution territories for Boston Whaler, Grady-White, and Sea Hunt Boats and other brands.

MarineMax will lease the Orlando and Daytona-based stores, which increases its store count to 55.

The company says the two stores are contiguous to its existing Florida operations, which should allow it to combine management, marketing and infrastructure. The new stores will also gain a number of new boat brands to its inventory.

Charlotte tax collections jump 22% for December
The Charlotte Harbor Visitor & Convention Bureau reported Tourist Development Tax Revenues grew by more than 22% in December to $200,014. That's up from $163,828 for the same month in 2011.

Fourth quarter collections for 2012 were up 13% compared with the same time in 2011.

For the fiscal year Oct. 1, 2011 to Sept. 30, 2012, Charlotte County Tourist Development tax revenues totaled $2.39 million, which is the most the county has ever collected.

“From what we are hearing from area accommodations, we are cautiously optimistic we will continue seeing this trend throughout the rest of the winter season,” Lorah Steiner, director of the Charlotte Harbor Visitor & Convention Bureau, says in a press release.

Charlotte County levies a 5% tourist development tax on accommodation stays of six months or less in addition to the 7% sales tax. The first 3% tax is spent for tourism promotion and marketing support and the final 2% is used to fund the debt for the bond to renovate Charlotte Sports Park.