i don't read it that way. look's like a technical hiccup that omagine has finessed. $78M of equity financing + $65M of subordinated debt = $143M, which should be adequate by past estimates.

capitalization (book value) may be a little less pending final deal, but long term shareholder value will probably be greater because of Omagine Inc's greater stake in Omagine LLC.

as always, there is really no deal until the government signs.