I would like to review a couple waypoints that this company has recently hit and plans to in the near future which are notable to me:
1.DA Signed (this is very big news as it memorializes the intent of the Omani Government to build this project and assigns Omagine LLC as the developer. It also legitimatizes Omagine LLC and Inc)
2.Usufruct Agreement Signed (grants Omagine LLC and by extension Omagine Inc a very sizable asset on its balance sheet. Assets make shareholders happy)
3.Valuation of Usufruct rights (this will be exciting because it will allow shareholders to calculate to the penny the value of the shares that they own based on advisement from a huge international accounting firm.)
4.Signing CCC as the contractor (shareholders will like this because it’s “rubber meeting the road”, let the development begin!)
5.Quarterly Report, 10Q with the value of the Usufruct Rights included on the company balance sheet (this will be great as it will publicly announce the value of the company in an official financial filing!)
6.Financing the project (money is good and will be needed to build this project so this will be important as shareholders like to know where the money is coming from and when it will arrive)
7.~$70MM cash infusion from RCA (more money! Shareholders like that!)
8.Listing Omagine Inc. shares on a major exchange (great publicity for Omagine)
I look forward to this board’s comments, feedback and corrections to this list.
