This coming Monday, August 22nd. (2016!)

Lynne.

The link to your article didn't work for us - but we're very happy to hear that it's good news!

We're still hanging in there.

We have to wait until Friday (possibly next Monday?) for the 10Q to come out. I hope the delay is because there are some contract agreement signings in the works for this week.

Lynne Harrell.

Agoracom is right. This is not the time to be obsessing over the detailed fundimentals, which seem to be consuming these pages. It's time to strike while the iron is hot - before the market makers plot a solution to get out of their current predicament. They can't continue to suppress the shares below two dollars in a company having over $40.00 of gross assets per share. If Lynne and I had liquid cash available, we would kick butt...NOW! It may be your last oppotunity at these prices.

Bob Harrell.

In our view, there's no trading going on as the market makers are parallized, and don't know whether to snif (change two of the letters!) or go blind. We think that the 28,500 ask trade on the books for the last few days, was bogus, to scare other share holders into putting shares up for sale, so the market makers could cover some shorts. Obviously that didn't work, and they had to short a whole lot more yesterday. Hopefully they'll get squeezed out of their (sniffy) boxer shorts soon, and get onboard with us on the long side.

Lynne Harrell.

Have you ever wondered why Omagine has needed 18 or more market makers since the stock's massive October run-up? In reality OMAG is an obscure, closely held, Bulletin Board stock with minuscule, if any, sponsorship (other than our group). Yes, we have come to love it for for good reason, despite its having been in the desperate clutches of outside forces, especially colluding trading firms, at least since Oct. 2, 2014.

So, what's the beef?

Pull up OMAG's one year daily price chart. It shows distinct, ongoing, rhythmic price behavior. Note the patterns. Typically, when OMAG's stock price rises sharply for a week or more, market makers with burdensome short positions, decide to reverse course in unison, looking to cover positions at a profit by dropping the price below their average short positions, and scaring the hell out stockholders. Market makers are under continuous regulatory pressures to close short positions. When the group of 18 senses it's time for their “Conga Dance”, the “All Dance” signal goes up, and the cycle repeats. sort of like reading music. The rhythmical beat is roughly six-eight days of shorting, followed closely by two-four days of short covering.

All these 18 trading companies are not making significant returns, but they sure know how to dance the Conga! So what is it all about? It should be obvious, but one can only speculate. The likely answer goes back to October 2-3, 2015 when OMAG touched $4.00 per share on +/- 800,000 shares traded. We suspect that large amounts of those shorted shares are still held by the “Conga Dancers” in safe keeping, sort of like the game, “Button-Button, whose got the button?”

SO, what is the lesson to be learned HERE?

We think it is obvious, but we can't prove it. SORRY!

Bob & Lynne Harrell

More than 82% of shares traded yesterday were sold short, so I was expecting this to happen today. It is all about how the market makers make money in-house, by manipulating the price down, and freeking out some shareholders. so they'll sell into the fall. The only people who benifit, are the ones that can buy cheap stock at the bottom (like Billy Boy at $1.43!)

Thanks Alton for all your work, picking out the nuggets from the 8K for us. I found the wording in one part very disheartening, where they said " in the coming months we will be..." getting such and such done. I wish they had said - in the coming days or weeks, rather than months. Maybe that encouraged the shorts, letting them know that they had plenty of time to do their thing. I just hope it is'nt too many months before we hear some more good news, or we'll be back to $1.43 again.

Lynne Harrell.