Omagine

Company has signed a Development Agreement with the Government of the Sultanate of Oman. Omagine Owns 60%; Sultanate Owns 25%; Consolidated Contractors Owns 15%. Project to be developed on 245 acres of beach front land on Gulf of Oman. The estimated cost approximately $2.5 Billion. BNP Paribas To Lead Construction Financing Syndicate.

Home Videos Research Press Release Q&A Discussion

Threads Posts

Re: A Random Thought ....

Omagine

almost 9 years ago

in response to Jeff72's message

I don't know how many LLC shares are outstanding, but I'm assuming you used the correct figure to arrive at your $1,082. But there shouldn't be any discussion over valuation/share. $718m is $718m and the number of LLC shares outstanding is the number outstanding.

I believe the only hiccup was EID getting in the way (done) and the accountants agreeing on HOW to book the $718m (not how much of it to book) and, probably more importantly, how to consolidate the 2 entities when the parent files GAAP and the subsidiary files IFRS.

All of which confirms my decision decades ago not to major in accounting, but to instead major in financial analysis.