This is what I meant taken from the 10Q.

As of the date hereof, in order to bring the Omagine Project into existence, Omagine has expended in excess of $15 million of Pre-Development Expenses through the October 2, 2014 DA signing date which are not recorded as capital on LLC’s financial statements (See: Pre-Development Expense Amount”, below).

Pre-Development Expenses / Success Fee

Prior to the DA being signed, Omagine and JOL incurred significant costs related to marketing, planning, concept design, re-design, feasibility studies, engineering, financing, promotions, capital raising, travel, legal fees, consulting and professional fees, other general and administrative activities and similar such activities including preparing and making presentations to the Government and to potential investors and all other activities and matters associated with the negotiation and conclusion of the DA with the Government (collectively, the ”Pre-Development Expenses”).

The Shareholder Agreement defines the “Pre-Development Expense Amount” as the total amount of such Pre-Development Expenses incurred before the DA was signed by the Government and LLC on October 2, 2014

The Shareholder Agreement (i) estimates that, as of the date of the Shareholder Agreement (April 20, 2011), the Pre-Development Expense Amount was approximately nine (9) million U.S. dollars (and it is significantly higher as of October 2, 2014), and (ii) defines the Success Fee as being equal to ten (10) million dollars.

As provided for in the Shareholder Agreement, Omagine will receive payment in full from LLC of:

The Shareholder Agreement also defines the date subsequent to the Financing Agreement Date when LLC draws down the first amount of debt financing as the “Draw Date”. The ten (10) million dollar Success Fee will be paid to Omagine in five annual two (2) million dollar installments beginning on or within ten (10) days after the Draw Date.

Fifty percent (50%) of the Pre-Development Expense Amount will be paid to Omagine on or within ten (10) days after the Draw Date and the remaining fifty percent (50%) will be paid to Omagine in five equal annual installments beginning on the first anniversary of the Draw Date.

As of the date hereof, Omagine has and continues to incur costs on behalf of LLC via the Omagine Payments for the Pre-Design Activities undertaken by LLC since October 2, 2014. Up until the October 2, 2014 Execution Date of the DA, Omagine had paid all of the Pre-Development Expenses for LLC. Subsequent to the October 2, 2014 Execution Date of the DA, Omagine has continued to pay for most of LLC’s operating expenses via the Omagine Payments.