(FORTUNE Small Business) – Since gracing our cover in March 2005, sunken-treasure recovery firm Odyssey Marine Exploration has been working toward a huge payday: the exploration of the HMS Sussex, sunk off Gibraltar in 1694 laden with gold worth as much as $4 billion. In July, Spain gave the go-ahead, but in January, the regional government of Andalusia protested that Odyssey hasn't complied with its laws. For example, Odyssey agreed to bring an Andalusian archeologist onboard; the region, however, never appointed one, despite Odyssey's repeated requests. Accusations fly in the Spanish press, but it remains unclear what the local requirements are. Odyssey co-founder Greg Stemm says the Sussex lies in international waters outside Spain's control and he is negotiating with Spanish officials only as a matter of "courtesy."

BIGFOOT NETWORKS: Third-place winner in FSB's November 2005 business-plan competition, Bigfoot has won $4 million in financing from Venio Capital Partners of Austin. Launched at the McCombs School of Business at the University of Texas, Bigfoot developed a technology to prevent technical delays in online games.

MANNEQUIN MADNESS: Profiled by FSB in February 2005, the Oakland mannequin-rental firm has won the World of Difference contest sponsored by the Small Business Technology Institute and Intel. Owner Judi Henderson-Townsend (right) plans to use the $5,000 cash and $100,000 line of credit for technology upgrades.

Answers to questions on page 20

THE TOP CITIES FOR SMALL BUSINESS ARE

1. Miami.

2. Las Vegas.

3. Orlando.

Rankings for the other cities listed are New York (10), Richmond (14), Atlanta (16), Boston (20), Austin (23), San Francisco (32).