Bingo!

Right On, jstein. Obviously some don't see it.

Let's lay it out for them:

"CCG" paid $49,426,000 for a 12% share of Omagine's "Project

Company." Therefore, at this $411,883,333 implied market value,

Omagine's88% ownership would translate into $388,857,040.

Assuming 46 million shares outstanding, OMAG's equity comes to

$8.45 per share, about eight times greater than the current narket

value of $1.05, roughly equal to CASH value per share.

Correct?

Hello, out there!