Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Zero volume. Nobody’s buying this garbage.
WHEN I READ SOMETHING CRAZY LIKE THAT?
I JUST ADD MORE!
GO TEAM OMAG!
...:)
Yea 1 post a day. A lot of promo
Another bad day for the OMAG promo.
At least it’s consistent.
Didn’t know a couple thousand shares was considered a dump now adays and also wasn’t aware that OTC QB is a stinky pinky. Thanks for informing the unaware
Stinky pinkies under heavy promotion are expected to rise, not fall.
There’s something wrong with this one.
Maybe phase two (the dump) has already started?
Yikes! Didn’t know stocks just always go up and never have a red day!
Yikes! More red so far today.
Something ain't right here.
What’s it going to take to move this pig? The fake John Fife “purchase” ain’t doing anything. (He’s a toxic loan shark not a buyer of stock).
I’m beginning to think the OMAG promo is going nowhere.
LOL.
SO VERY TRUE my friend.
UP WE GO!
As they say one man’s garbage is another man’s riches and this “garbage” is steadily making the riches. $OMAG
Twitter overload for this OMAG garbage.
Sure sign to stay away.
20,000 shares traded today. This over-hype garbage is on FIRE!
OMAG = Twitter PnD fail.
Look out below.
Form-T = dilution.
OMAG. WHAT AM I HEARING NOW That the T TRADE WAS A SELL? SAYING IT WAS DILUTION???! This is getting too easy for any trader to figure out. THE LADT TRADE AFTER HOURS WAS A BUYYYYYYYY FOR 35K SHARES!!! Just like the last 4 days ALL T TRADES AFTER HOURS WERE BUYSSSSSSSSSS. We have all the screenshots. FACTS FACTS FACTS. The fact is too easy to defend. Truth conquers all. BEAUTIFUL JUST BEAUTIFUL!!!! LMFAOOO!!! OMAG book value $1.34 FACT!!!! 50 million A/S FACT. SULTAN OF OMAN (a billionaire) OWNS 25% of OMAG. BUYS TODAY 129K sells 25k, its all there FACT FACT FACT!!! OMAG 20 cent break will be easy as we keep soaking up these SCARCE shares. Lets focus on our IMMENSE DD. Traders can read.
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
Lol another end of day T trade for 37,500. Let's face it dilution is here to stay and just getting started with $1.8M hitting next week.
OMAG WHAT A BEAUTIFUL STRRRRRONG DAY!!! WEEEEEEEEE!! My friend lets just stay focused. Traders know the difference. You already saw today THE MARKET AND TRADERS ARE SPEAKING WITH THE TRADES TODAY. And the new trips talk....well...that just really takes the cake. Nothing to be said there. Lets focus on the facts and make this money.
IS THE SULTAN OF OMAN A BILLIONAIRE???! DOES HE STILL OWN 25%
OF OMAG???! Do they have property values at $718 million? Answer is UES. FACTS FACTS FACTS. OTHER PROJECTS IN THE WORKS FELLAS. STAY CLASSY
Oman ranked in the top 10 countries to visit in 2017 https://t.co/SJfBzf2Jw3
Omagine $OMAG
Details: https://t.co/LYTzVbBbaw
(via @AGORACOM) https://t.co/5Gr2hcWHuKqqqqa
$OMAG In addition to the Omagine Project in Oman, we have been holding serious discussions with Omani government officials regarding other projects in Oman and we have held initial discussions with government officials and business people in the MENA region about similar projects
and other business opportunities therein. Company management, which has strong existing relationships with many businessmen and various Government officials in the region believes that opportunities will develop for the Company.
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
Lol yes it can just like thousands of other stocks have.
27M OS right now means over 1.35M per day can be diluted. The market cannot and will not absorb that above .01 and this is a QB stock which means they will RS to keep it.
The lower it goes the more shares issued which means the higher the OS grows and the more shares per day can be diluted as its a vicious cycle with toxic death spiral dilution.
BMIC wouldn't even move today except one tick lol
$1.8M kills even trip stocks at .0001.
If this went to the trips I’d buy the whole OS myself. It physically can’t with such a small OS
Lol FIFE is not EMA which owns the $1.8M note converting next week.
FIFES 3M shares were nothing compared to whats coming as it will drive this to trips.
Those are the facts!
OMAG FACTS FACTS FACTS!! NUMBERS BUMBERS NUMBERS. 1.8 MILLION IS NOTHING COMPARED TO 2.5 BILLION!!! FIFE ALREADY CONVERTED ALLLLLLL HIS SHARES. Scare tactic failing
$OMAG if I told u a BILLIONAIRE OWNED 25% of a stock & its at 10 cents. With only 24 million O\S, property values at $718 million and a $2.5 BILLION contract waiting in the wings you would call me crazy right!!!??? How about if it was trading at 5 cents what would you call me then? Actually a stock like this does exist. ITS UNKNOWN BUT NOT FOR LONG
OMAG IS an OTCB stock in which 25% is owned by the SULTAN of OMAN. Look at the in$user purchases below. Insiders owning 100s of thousands of dollars worth of shares all shares bought from 50 cents to $1.20. Fellas OMAG CAN BE A $20 stick post construction.
https://t.co/GNEyi2QNfb
/13/2017Charles P. Kuczynski
Vice-President & Secretary; Director15,000 Gift at $0 per share.002/02/2017Charles P. Kuczynski
Vice-President & Secretary; Director47,170 Acquisition at $0.53 per share.25,00002/02/2017Louis J. Lombardo
Director94,340 Acquisition at $0.53 per share.50,00002/02/2017Jack A. Smith
Director94,340 Acquisition at $0.53 per share.50,00002/02/2017Alan M. Matus
Director94,340 Acquisition at $0.53 per share.50,00002/01/2017Frank J. Drohan
President & CEO; Director100,000 Acquisition at $0.51 per share.51,00001/04/2017Frank J. Drohan
President & CEO; Director50,638 Award at $0.62 per share.31,39501/04/2017Louis J. Lombardo
Director81,169 Award at $0.62 per share.50,32401/04/2017Jack A. Smith
Director81,169 Award at $0.62 per share.50,32401/04/2017Alan M. Matus
Director81,169 Award at $0.62 per share.50,32401/04/2017William Hanley
Principal Accounting Officer15,004 Award at $0.62 per share.9,30201/04/2017Charles P. Kuczynski
Vice-President & Secretary; Director52,517 Acquisition at $0.62 per share.32,56010/31/2016Louis J. Lombardo
Director10,000 Acquisition at $0.5 per share.5,00004/05/2016Frank J. Drohan
President & CEO; Director56,000 Acquisition at $1.19 per share.66,36004/05/2016Louis J. Lombardo
Director27,778 Acquisition at $1.19 per share.32,91604/05/2016Jack A. Smith
Director27,778 Acquisition at $1.19 per share.32,91604/05/2016Alan M. Matus
Director27,778 Acquisition at $1.19 per share.32,91601/18/2016Frank J. Drohan
President & CEO; Director24,955 Award at $0 per share.001/18/2016Charles P. Kuczynski
Vice-President & Secretary; Director25,879 Award at $0 per share.001/18/2016Louis J. Lombardo
Director38,462 Award at $0 per share.001/18/2016Jack A. Smith
Director38,462 Award at $0 per share.001/18/2016Alan M. Matus
Director38,462 Award at $0 per share.001/18/2016William Hanley
Principal Accounting Officer7,394 Award at $0 per share.001/18/2016Charles P. Kuczynski
Vice-President & Secretary; Director11,200 Gift at $0 per share.005/16/2015Frank J. Drohan
President & CEO; Director100,000 Acquisition at $1.2 per share.120,00003/13/2015Charles P. Kuczynski
Vice-President & Secretary; Director7,567 Gift at $0 per share.001/05/2015Frank J. Drohan
President & CEO; Director15,299 Award at $0 per share.001/05/2015Charles P. Kuczynski
Vice-President & Secretary; Director15,888 Award at $0 per share.001/05/2015William Hanley
Principal Accounting Officer4,119 Award at $0 per share.0
DON'T SLEEP. Do your Due diligence.
$OMAG traders have no idea what a MONSTER it can become?? #BlackPanther #Blockchain #btc #LTC #bitcoin #startup #MMJ #pennystocks #luxury #RIPPLE #money #trading #cryptocurrency #business #eth #finance #stockmarket #ethereum #tips #oman #Saudi #eth #litecoin #millionaire #billionaire #forex #LamborghinI #realestate #Mercedes #buggatti #daytrading #daytrader #PENNYSTOCKS #OTC #GOLD #OIL #WEALTH #WORKFROMHOME #WALLSTREET #NEWYORK
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
Agree.
I will be adding more soon.
And I do mean MORE.
glta.
$1.8M in notes mature March 27th next week per the 8k.
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On January 30, 2018, Omagine, Inc. (the “Company”) received written notice (“Notice”) from EMA Financial, LLC (“EMA” or the “Lender”) that an event of default had occurred with respect to the Convertible Promissory Note issued by the Company in favor of EMA on September 28, 2017 (the “Note”). The Lender advised the Company that the default occurred because of, among other things, the failure to reserve a sufficient number of shares of the Company’s $0.001 par value common stock (“Common Stock”) for possible future issuance to the Lender, and for the breach of representations and warranties under the Note. As of the Notice date, considering default penalties, twenty four percent accrued interest and application of a default calculation, the alleged outstanding balance of the Note as calculated by EMA is $1,868,313. The Company does not agree with such outstanding balance as calculated by EMA. EMA has demanded full payment from the Company and reserves all rights and remedies available to it under the Note and related transaction documents.
The Note and Securities Purchase Agreement were filed as Exhibits to the Company’s Current Report on Form 8-K filed with the Securities & Exchange Commission on October 18, 2017 and incorporated herein by reference. The foregoing summary of the Notice does not purport to be complete and is qualified in its entirety by reference to the full text of the Notice attached hereto as Exhibit 10.1.
As previously disclosed, pursuant to the Note the Company is obligated to increase the number of its authorized common shares (“Common Shares”) in order to reserve an agreed number of such Common Shares for possible future issuance to the Lender. The Company was of the opinion that this increase could have been accomplished via the written consent of a majority of its shareholders without the necessity of a proxy filing and meeting of its shareholders. This turned out to be inaccurate and the Company now understands that such a proxy filing and meeting is required and the Company presently intends to file such proxy and schedule and conduct such meeting
Beware of John Fife toxic convertible note holder.
Don't be duped into thinking he's a retail investor, he's not.
That's it..
Stay strong..
Stay focus.
Still way CHEAP for a HUGE ROI 2018 & BEYOND.
Jmo.
OMAG. My question is DOES A BILLIONAIRE STILL OWN 25% OF OMAG? IS THE A\S STILL 50 MILLION? DO INSIDERS STILL OWN OVER $500K WORTH OF SHARES??? What is 1.8 million compared to 2.5 BILLION? Or compared to $718 MILLION??? The people loading FOCISED ON THE MONEY. Do you see those bids jumping each other every day? OMAG BIG BOYS LOADING. WE are focused on the money trail.
https://finance.yahoo.com/quote/OMAG/history?p=OMAG
OMAG HAS MANY MORE PROJESCTS THEY ARE BIG PLAYERS IN OMAN (well you know the SULTAN of OMAN DOES OWN 25% soooooo..maybe....????!)
OMAG BREAKING Project https://t.co/PXOyQb46zl
More: https://t.co/LYTz @timesofoman https://t.co/CqlHcb8O7p
Oman ranked in the top 10 countries to visit in 2017 https://t.co/SJfBzf2Jw3
Omagine $OMAG
Details: https://t.co/LYTzVbBbaw
(via @AGORACOM) https://t.co/5Gr2hcWHuKqqqqa
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
Lol ignoring $1.8M diluting after next week doesn't change no matter how many wish it didn't exist.
Facts are facts as it is what it is.
OMAG DOES A BILLIONAIRE STILL OWN 25% OF OMAG??? If the answer is YES then it shouldn't be trading under 30 cents. Keep focusing on the 2.5 billion project they have and I understand but THATS NOT ALL I'M FOCUSED ON. No one cares about doom and gloom jargons. If one doesn't want to hold shares any MORE just sell and move on. We will be here for the eminent PARABOLIC LAUNCH.
THERE ARE MORE PROJECTS. maybe not 2.5 BILLION but I'll take 50 million lol. $OMAG in OMAN NEWS! more projects we ignore 4.5 CENTS? https://t.co/aOZnzr9K7l
$OMAG In addition to the Omagine Project in Oman, we have been holding serious discussions with Omani government officials regarding other projects in Oman and we have held initial discussions with government officials and business people in the MENA region about similar projects and other business opportunities therein. Company management, which has strong existing relationships with many businessmen and various Government officials in the region believes that opportunities will develop for the Company.
DON'T SLEEP. Do your Due diligence.
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
No investments as they bailed per the update and $1.8M in dilution coming after next week per the 8K.
Agree anything under .05 is the bottom like trips coming which is unavoidable with $1.8M diluting.
ANYTHING UNDER A .05 IS THE BOTTOM.
That's JMO.
( You have been here longer then most )
Where's the $$$ to fund this project?
ANGEL INVESTMENT COMES KNOCKING @ OMAGINE HQ?
Please do tell..
Agree..
This stock is for small time PLAYER to know what it's like to strike $$$ QUICK!
Just think:
A few hundreds bucks ( $200-$500 ) of investment here can turn into $$$ overnight btw!
glta!
How is the bottom set with $1.8M converting after next week per the 8K? Please explain?
There is 19,483,006 in the float now which went up 3M in the last week. DTC has nothing to do with the float at all. Float is determined by the OS minus restricted shares.
Omagine never broke ground last year as the Chinese developer bailed out and the sultan never paid the $20M per the last Q.
Now there is a $1.8M note hitting after next week per the last 8K filed.
It's shaping up for a great run down to trips and then another RS the way things are looking!
My sentiments exactly!
Some feel this is a QUESTIONABLE investment?
I, however, sees the bottoms already been set.
Yes..
These MASSIVE PROJECT takes time. ( NO GUARANTEE )
But, the ROI is so massive that it's worth putting $$$ in here.
That's JMHO.
glta.
As of 03/08/2018 there ONLY 27m outstanding shares with 17m held at DTC leaving only about 14m float. Even is more shares are issued after March 27th float it would still leave the float at less than 40m ONLY!
https://www.otcmarkets.com/stock/OMAG/security
With the Omagine Project is breaking ground last year things are quickly shaping up for a great run! $OMAG
$OMAG Float and OS has increased by 3M in the last week per OTC Markets! Still waiting on the company to address the $1.8M converting on March 27th per the last 8K.
Insiders can protect their shares from an RS by converting them into preferred. Retail cant. And insiders certainly didn't buy any down here at all time lows so that should all tell us something.
Still no word from mgt on that $1.8M converting on the 27th. It's not looking good as we should see an AS increase next week.
Best way to spot a scam pump and dump?
Small buys to prop-up the pps.
Sell volume far outpaced buy volume today on OMAG.
No surprise.
OMAG IS A BIG BOY STOCK. When insiders are loading $120k $100k $94k $81k, $6qk $50k pops left and right At 50 cents to $1.20 per share I love my 3 cents 4 cents 5 cents buys....
ALL THOSE CONVERSIONS REALLY WERE DUMPED TODAY AND YESTERDAY IT WAS MILLIONS AND MILLIONS OF SHARES SOLD TODAY...even thought there were only 18k shares traded today and OMAG CLOSED GREEN.
NUMBERS DONT LIE. OPINIONS don't pay rent
20 cents in 1 days doable. SHARES LOCKED
When you're done reading all those $81k $100k 50k buys etc then think.
so WHEN I SAY REAL MONEY BIG BOYS LOADED better believe it and I haven't even a THE SULTAN
04/13/2017 Charles P. Kuczynski
Vice-President & Secretary; Director 15,000
Gift at $0 per share. 0
02/02/2017 Charles P. Kuczynski
Vice-President & Secretary; Director 47,170
Acquisition at $0.53 per share. 25,000
02/02/2017 Louis J. Lombardo
Director 94,340
Acquisition at $0.53 per share. 50,000
02/02/2017 Jack A. Smith
Director 94,340
Acquisition at $0.53 per share. 50,000
02/02/2017 Alan M. Matus
Director 94,340
Acquisition at $0.53 per share. 50,000
02/01/2017 Frank J. Drohan
President & CEO; Director 100,000
Acquisition at $0.51 per share. 51,000
01/04/2017 Frank J. Drohan
President & CEO; Director 50,638
Award at $0.62 per share. 31,395
01/04/2017 Louis J. Lombardo
Director 81,169
Award at $0.62 per share. 50,324
01/04/2017 Jack A. Smith
Director 81,169
Award at $0.62 per share. 50,324
01/04/2017 Alan M. Matus
Director 81,169
Award at $0.62 per share. 50,324
01/04/2017 William Hanley
Principal Accounting Officer 15,004
Award at $0.62 per share. 9,302
01/04/2017 Charles P. Kuczynski
Vice-President & Secretary; Director 52,517
Acquisition at $0.62 per share. 32,560
10/31/2016 Louis J. Lombardo
Director 10,000
Acquisition at $0.5 per share. 5,000
04/05/2016 Frank J. Drohan
President & CEO; Director 56,000
Acquisition at $1.19 per share. 66,360
04/05/2016 Louis J. Lombardo
Director 27,778
Acquisition at $1.19 per share. 32,916
04/05/2016 Jack A. Smith
Director 27,778
Acquisition at $1.19 per share. 32,916
04/05/2016 Alan M. Matus
Director 27,778
Acquisition at $1.19 per share. 32,916
01/18/2016 Frank J. Drohan
President & CEO; Director 24,955
Award at $0 per share. 0
01/18/2016 Charles P. Kuczynski
Vice-President & Secretary; Director 25,879
Award at $0 per share. 0
01/18/2016 Louis J. Lombardo
Director 38,462
Award at $0 per share. 0
01/18/2016 Jack A. Smith
Director 38,462
Award at $0 per share. 0
01/18/2016 Alan M. Matus
Director 38,462
Award at $0 per share. 0
01/18/2016 William Hanley
Principal Accounting Officer 7,394
Award at $0 per share. 0
01/18/2016 Charles P. Kuczynski
Vice-President & Secretary; Director 11,200
Gift at $0 per share. 0
05/16/2015 Frank J. Drohan
President & CEO; Director 100,000
Acquisition at $1.2 per share. 120,000
03/13/2015 Charles P. Kuczynski
Vice-President & Secretary; Director 7,567
Gift at $0 per share. 0
01/05/2015 Frank J. Drohan
President & CEO; Director 15,299
Award at $0 per share. 0
01/05/2015 Charles P. Kuczynski
Vice-President & Secretary; Director 15,888
Award at $0 per share. 0
01/05/2015 William Hanley
Principal Accounting Officer 4,119
Award at $0 per share. 0
ks
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAGOMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAGOMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAGOMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAGOMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
How’s the time to get in on this. Only 14M float and they’re doing big things already! $OMAG
http://www.omagine.com/pdf/2016/7-12-2016_Times-of-Oman.pdf
ALL THOSE CONVERSIONS ARE HITTING HARD....Look at that WHOPPING 17K shares traded today and 70K traded yesterday!!
OMAG FACTS THAT CAN MAKE THOSE AGAINST HER CRY
OMAG SULTAN OF OMAN STILL OWNS 25% OF OMAG!!! Its a fact folks
OMAG THE SULTAN OF OMAN IS RHE MOST POWERFUL PERSON IN THE COUNTRY
OMAG FACT CONVERSIONS ARE DONE. It can EASILY BE SEEN FROM THE DRASTIC DROP IN VOLUME..very very easy...well easy for me lol
OMAG ONLY 50 MILLION AUTHORIZED SHARES..FACT FACT FACT...yes I didn't stutter 50 MILLION
OMAG IS RUNNING RIGHT NOW. THE CONVERSIONS ARE HITTING THE ASK TAKING IT HIGHER TODAY OH NO MY MONEY IS GROWINGGGGGG
FACT DELOITTE AND TOUCHE ARE ONE OF THE GREATEST/MOST RESPECTED auditors in the world and the gave the land owned by OMAG a VALUATION at $718 MILLLLLLLLLION. Oh no these facts facts facts facts
OMAG HAS OTHER PROJECTS IN THE PIPELINE I HAVE POSTED LINKS OF RHOSE HERE ALREADY...FACTS FACTS FACTS!!!!!
In these kind of nations deals are not printed in the paper or discussion boards, they are done BEHIND CLOSED DOORS. FACTSSS
THE SULTAN NEVER BACKED OUT. You know I like to use EVIDENCE AND FACTS...last I checked the SULTAN STILL OWNS 25% OF THE COMPANY...I don't know but that doesn't sound like BACKING OUT to me. AND FOR THOSE WHO LIKE FACTS OVER OPINIONS GO READ THE LAST 8K WHERE IT CLEARLY STATES THAT THE SULTAN HASNR RESPONDED YET....huge difference from the alternative facts.
THE PARABOLIC RUN OMAG IS ABOUT TO HAVE IS GOING TO TURN IT FROM OMAG TO OMG.
USE FACTS FELLAS LIKE WINNERS DO. OMAG CAN BE A $20 STOCK ask Forbes. Lol
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG OMAG
Agree but I wouldn't call the March 27th conversion for $1.8M per the last 8K little!
Followers
|
20
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
462
|
Created
|
09/05/07
|
Type
|
Free
|
Moderators |
$2.5B Real Estate Development Project in
Oman with the Government to Begin any
day now per the Ministry of Tourism and will be
finished by 2024 once the $20M initial payment is
made to begin construction!
http://www.omagine.com
Omagine, Inc.
Empire State Building
350 Fifth Avenue, Suite 1103
New York, NY 10118
Tel: 212-563-4141
800-535-2532
Fax: 212-563-3355
info@omagine.com
https://www.youtube.com/watch?v=ipGz1tfnTiE
http://omagine.com/media/Jol_Omagine_480p.flv
The company is headquartered in New York City and has a subsidiary in Muscat, Oman. Depending upon unfolding events, the Company intends to open branch offices in Beirut, Lebanon and in Dubai, the United Arab Emirates during 2018.
We are a publicly traded Delaware, USA corporation. Our stock symbol is OMAG.
We select distinctive locations, mostly in the Middle East and North Africa (the “MENA Region”), which we design and develop into unique tourism destinations that have a “high culture” flavor and a “pop culture” texture. The MENA Region is one of the fastest growing tourism destinations in the world and governments there are diversifying their economies with tourism projects that create local employment.
The Company is focused on MENA Region entertainment, hospitality and real-estate development opportunities because we believe the enormous financial resources in the MENA Region combined with the governmental strategic vision presents superb development opportunities.
In addition to the Omagine Project in Oman, we have been holding serious discussions with Omani government officials regarding other projects in Oman and we have held initial discussions with government officials and business people in the MENA region about similar projects and other business opportunities therein. Company management, which has strong existing relationships with many businessmen and various Government officials in the region believes that opportunities will develop for the Company.
Oman is a wealthy, politically stable, forward & outward looking country in the southern Gulf region that has enormous economic and geographic assets. With its mountains, waterfalls, deserts, extensive coastlines and 6,000 year old cultural and maritime history, it provides unique tourism opportunities in the MENA Region.
Our destination properties are upscale, uplifting and uproariously entertaining.
Our projects always include traditionally designed residential and commercial components but the tourism components are thematically imbued with culturally aware and scientifically accurate entertainment experiences. All of our developments are historically faithful to their surroundings. The tourism elements tend to emphasize the great art, music, culture, science and philosophy of the world – the Great Ideas - while simultaneously being hip, stylish, trendy and very 21st century.
We have a family-oriented design and development bias which we employ to make our properties tell true and entertaining stories about their surroundings and the world. Our developments seamlessly integrate entertainment with art, culture, science and history.
Our aim is to generate exceptional value for our shareholders and to change the world into a more peaceful, prosperous, egalitarian and friendly place.
The Omagine Project will be an integration of cultural, heritage, educational, entertainment and residential components, including: a high culture theme park containing seven pearl shaped buildings, each approximately 60 feet in diameter, associated exhibition buildings, a boardwalk, an open air amphitheater and stage; open space green areas; a canal and an enclosed harbor and marina area; associated retail shops and restaurants, entertainment venues, boat slips, and docking facilities; a five-star resort hotel, a four-star resort hotel and possibly a three or four-star hotel; commercial office buildings; shopping and retail establishments integrated with the hotels, and approximately two thousand residences to be developed for sale.
The company's internal financial model presently forecasts significant net positive cash flows for Omagine LLC over the seven year period subsequent to the signing of the Development Agreement and a net present value of the Omagine Project of approximately $1.55 billion dollars. The Company intends to continually update this model at regular intervals as new facts and information become vailable, as the development program and design process unfolds and as market conditions require.
From the last 10Q
INVENTORY AND PROPERTY
The Company’s consolidated financial statements for the nine months ended September 30, 2017 reflect $718,614,000 of land under development which the Company has allocated to inventory ($490,813,363) and property ($227,800,637). This $718,614,000 of land under development was purchased by LLC on July 2, 2015 pursuant to the terms of the Shareholder Agreement whereby an LLC shareholder agreed to transfer the Land Rights over one million square meters of beachfront land to LLC in exchange for the issuance to such shareholder of 663,750 Omagine LLC shares (the “LLC Shares”). Since the Land Rights represented a non-cash payment for the LLC Shares, it was necessary to value the Land Rights.
Three expert real estate valuation companies were engaged by LLC to independently value the Land Rights in accordance with the professional standards specified by the Royal Institution of Chartered Surveyors (“RICS”) and International Financial Reporting Standards (“IFRS”). The average of the three Land Rights valuations was 276,666,667 Omani Rials ($718,614,000).
LLC engaged the services of PricewaterhouseCoopers LLP (“PwC”) as its IFRS accounting consultant to definitively determine the correct method of recording the $718,614,000 average value of its Land Rights in its IFRS compliant financial statements. After receiving PwC’s written opinion, LLC then consulted with its independent auditor, Deloitte & Touche (M.E.) & Co. LLC (“Deloitte”) with respect to the matter and received Deloitte’s written opinion agreeing with the PwC opinion. Both PwC and Deloitte independently concluded that the Land Rights should be recorded as capital, work-in-process (inventory) and land on LLC’s financial statements. With respect to the Company’s consolidated financial statements, OMAG’s independent auditor in the U.S. has likewise concurred that, pursuant to US GAAP, the Land Rights should also be recorded as capital, inventory and land.
In determining the allocations to inventory and to land, LLC followed the advice of Deloitte by computing the percentage (x) calculated by dividing (y) the area of the land LLC definitively knew it intended to sell, by (z) the total area of land constituting the Omagine Site, and then multiplying that percentage (x) by $718,614,000 to get the correct number (N) for inventory. The correct number for land was then calculated by subtracting N from $718,614,000. Using its detailed internal financial model, management calculated (x) to be equal to 68.3%, thereby making the inventory number $490,813,363 and the land number $227,800,637. In its consolidated financial statements therefore, the Company has divided the Land Rights between land under development which is held for sale (inventory) and land under development which is held for investment (PP&E). These percentage allocations may be modified over time as the more precise land uses become apparent during and after the master planning and construction processes.
As more fully described in Note 1 and in Note 11 (See: the “Omagine LLC Shareholder Agreement” section of Note 11), financing for the Omagine Project has not yet been secured. If such financing is not obtained, LLC may not be able to complete the Omagine Project and may not be able to recover the $718,614,000 value of the land under development described above.
Omagine, Inc. has today filed with the SEC its quarterly report on Form 10-Q for the period ended September 30, 2017 (the “10-Q Report”).
Below are certain excerpts from the 10-Q Report. The excerpts do not purport to be or represent the full filing. Please use the following link to view the complete text of the 10-Q Report:
https://www.sec.gov/Archives/edgar/data/820600/000121390017012389/f10q0917_omagineinc.htm
Excerpts from the 10-Q Report:
Summary
The development of the Omagine Project has been delayed. We never expected that a $5 Billion company like CCC would default on their investment obligation – but they did. CCC has now been removed as an LLC shareholder and is being replaced by a new investor. The failure to execute the CCC-Contract by July 1, 2016 did not relieve RCA of its continuing obligation under the Shareholder Agreement to make its approximately $20 million Deferred Investment into LLC. This $20 million cash Deferred Investment from RCA was due to be paid to LLC on July 2, 2016 and is now past-due (the “Past-Due RCA Investment”).
We have a written Investment Agreement from the local Omani investor mentioned below who has passed away and which investment we do not now expect to happen. We have a verbal commitment from a recently formed investment fund for MENA Region real-estate transactions (the “MENA-Venture Fund”) organized by the Kosovar managers of a European fund with which we have been dealing. We have a non-legally binding November 2017 signed letter of intent from a Southeast Asian-based real-estate investment group which is active in Singapore and Thailand and is seeking to expand in the MENA Region (the “Singapore Developer”). LLC is presently in final discussions with the MENA-Venture Fund and is in continuing discussions with the Singapore Developer. In addition RCA and OMAG are also in continuing discussions with a Dubai based developer which was previously active in Oman and well known to RCA (the “Dubai Developer”). Omagine LLC hopes and intends to close the most advantageous deal it deems possible with one or more of these potential investors and/or co-developers or with some other prospective investor with which the Company is in contact.
During the second and third quarter of 2017 and continuing up to the date hereof multifaceted discussions and correspondence between and among management, MOT and RCA occurred with respect to, among other things, the Past-Due RCA Investment which is now an almost 18 month past due obligation of RCA to invest its $20 million equity investment into LLC (which was due and payable to LLC in July 2016), the status of the possible new investors to replace CCC, the timelines for completion of the Omagine Project and the possibility that the DA may be amended, extended, replaced or terminated by MOT. These complex discussions continue as of the date hereof and involve at least two Omani government ministries as well as other Oman and U.S. governmental entities and authorities and more recently now, probably Sultan Qaboos, the ruler of Oman as well. The outcome of these multifaceted discussions is not yet clear or concluded but in all such similar prior events - of which there were a few - MOT has granted the reasonable requests of the Company for the time extensions required to perform certain tasks such as the closing of either the $20 Million Past-Due RCA Investment and/or a new investor to replace CCC. Management understands from the RCA representative that RCA and MOT are in contact and correspondence with respect to the Omagine Project and its development timelines, the DA, the UA, the $20 Million Past-Due RCA Investment, potential new investors and other matters and that RCA (which apparently is a continued strong supporter of the Omagine Project and of OMAG) is also in contact with His Majesty Sultan Qaboos regarding the Omagine Project’s timelines, developers, the $20 Million Past-Due RCA Investment, potential new investors and possible adjustments to any of the foregoing. As would be expected, management is not privy to the exact nature of these hi-level government discussions but LLC management is scheduled to meet with the RCA representative sometime before November 24th to be briefed on such ministerial and governmental discussions as are relevant to the Company and the Omagine Project.
The OMAG Common Stock is, and always has been, a proxy for the performance of LLC and the project delays to date have put downward pressure on the OMAG Common Stock. LLC can begin the masterplanning and development of the Omagine Project when and if RCA pays its $20 million Past-Due RCA Investment obligation, or when and if an investment transaction with one of LLC’s present investment prospects closes (which has not happened yet although we anticipate – but cannot guarantee - that it will occur soon). LLC management is presently in continuing intense discussions with:
Notwithstanding the foregoing, shareholders and investors are cautioned that until an equity investment transaction as generally described above actually closes LLC will not have the funding sufficient to begin design, masterplanning and initial site work on the Omagine Project and no assurance can be given at this time that any such investment transaction will be finally consummated.
_______________________
Management presently estimates that the total net positive cash flow from the development of the Omagine Project will be approximately $3 billion and the net present value of that cash flow is approximately $1.6 billion. A present estimate therefore of the portion of that projected cash flow allocable to OMAG would be in excess of $1 billion USD assuming an OMAG ownership percentage of LLC of between 60% to 75%.
Approximately $900 million to $1 billion USD would therefore be the expected damages to OMAG and the expected claim amount by OMAG in any potential lawsuit in the event of any untoward circumstances (which no one presently expects to occur) arising from LLC’s not receiving for any reason, its required $20 Million Past-Due RCA Investment to begin development of the Omagine Project as a result of RCA’s failure to fulfill its legally binding investment obligation pursuant to the Shareholder Agreement.
The financial architecture of real estate projects generally requires that the developer (in our case, LLC) finance and pay for all organizational costs (legal, accounting, administrative, etc.), concept design, land acquisition (i.e. purchasing the land for the project), initial feasibility and market studies, masterplanning, detailed design, financial advisory fees and/or other engineering & development consultancy costs (collectively, the “Soft Costs”). The Soft Costs are all financed from the developer’s (in our case LLC’s) own cash resources provided by its shareholders (in our case OMAG, RCA and CCC) and this is the reason that the receipt by LLC of the $20 Million Past-Due RCA Investment is so crucial to LLC’s success.
One can readily see therefore the significant borrowing power advantage and financial leverage afforded to LLC by OMAG’s negotiating and arranging for the aforementioned $720 million of Land Rights to be added to LLC’s shareholder equity. Only after the developer (LLC) completes the land acquisition, the necessary engineering & development consultancy studies and the project masterplanning (all of which are Soft Cost tasks to be paid for by LLC), can LLC approach banks to arrange the debt facilities needed to finance the Hard Costs of construction. In the case of the Omagine Project, management estimates that such Soft Cost expenses will be approximately $25 million USD.
We are no longer relying on the conclusion of the estate settlement mentioned above and we are in final discussions with the MENA-Venture Fund with whom we have been holding discussions in parallel. We are also in an advanced state of discussions with the Singapore Developer and the Dubai Developer. Although we had expected to close an investment by now, that has not yet happened and we continue to be hopeful that such a financial investment with the MENA-Venture Fund can be closed by the end of November or early December 2017 and/or that a co-development transaction with either the Singapore Developer or the Dubai Developer can be arranged in early 2018 or before. Discussions continue with the MENA-Venture Fund and separately with the Singapore Developer who executed a Letter of Intent with LLC in November 2017. Separate discussions are also ongoing with RCA for the payment by RCA of the $20 Million Past-Due RCA Investment obligation.
LLC will not have the approximately $20 million of funding sufficient to begin the serious design, masterplanning and initial site activities on the Omagine Project until RCA pays LLC its $20 million equity investment as required by the Shareholder Agreement and/or until we close a transaction with a replacement investor for CCC. As mentioned above, the Soft Costs are typically paid for by the developer (LLC) out of equity as opposed to the much greater project finance costs which are typically paid for by the developer (LLC) via bank loans arranged by the developer. Management has also been conducting parallel project finance discussions with a bank and we expect a successful conclusion to that discussion to occur soon after RCA pays LLC the $20 Million Past-Due RCA Investment as required by the Shareholder Agreement or we close an equity investment with the MENA-Venture Fund, the Singapore Developer or the Dubai Developer.
Notwithstanding the foregoing, shareholders and investors are again cautioned that until an equity investment transaction as generally described above actually closes LLC will not have the funding sufficient to begin design, masterplanning and initial site work on the Omagine Project and no assurance can be given at this time that any such investment transaction will be finally consummated.
_______________________
If the market for our Common Shares is exhibiting low liquidity levels at the time we give YA an Advance Notice (a “Put”) and if YA sells Common Shares into the public market during the five Trading Day Pricing Period subsequent to our Put (as is YA’s customary practice), it is likely that the price of our Common Shares will decline. Any such price decline will immediately increase the number of Common Shares we would otherwise be required absent such price decline to deliver to YA subsequent to the Pricing Period in satisfaction of such Put. This is precisely what happened in early October 2017 when a severe liquidity crisis at the Company compelled OMAG to give YA a put for $100,000 which was ultimately satisfied by the issuance to YA of 940,740 Common Shares.
_______________________
In order to generate the cash needed to sustain the Company’s ongoing operations, OMAG has over the past many years relied on the proceeds from the YA Loans, other loans and from sales of Common Shares made pursuant to the 2014 SEDA and Prior SEDAs and the 2012 rights offering as well as from sales of restricted Common Shares and notes made pursuant to private placements. Management is hopeful that the Warrants will provide a future source of additional financing but it is not possible to predict if any of our Warrants will ever be exercised. Company management has continually pressed RCA during 2017 to pay the $20 Million Past-Due RCA Investment to LLC which is long overdue. As of the date hereof RCA has not yet done so. In spite of their present obligation to make such payment, RCA has indicated that they would do so when the new investor to replace CCC is secured. In order to maintain both OMAG and LLC in existence, OMAG took on substantially more bridge financing debt during 2017 in order to plug the financing gap caused by RCA’s lack of payment of its obligations. Much of this bridge financing debt carries onerous repayment terms and highly dilutive conversion features. The Company presently anticipates it will be able to repay this bridge financing debt in cash (and avoid any dilutive conversions) only if we are able to close all or a portion of the anticipated $20 million investment with the MENA-Venture Fund by no later than mid-December 2017 or if RCA pays the $20 Million Past-Due RCA Investment by such date (which seems unlikely). If RCA would pay such $20 Million Past-Due RCA Investment as they are obligated to then this bridge financing debt issue – and all other issues preventing the start of the project development – would be instantly resolved.
_______________________
The failure to receive funds from RCA or the MENA-Venture Fund as indicated above or the failure to arrange further bridge financing as necessary to sustain operations until such funds are received will have a materially significant adverse effect on the Company’s ability to continue operations.
Regards,
AGORACOM
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |