Omagine Inc. (the company) — through its 100 per cent ownership of JOL — will own 70 per cent of the project company’s equity.

 Based on financials which have been filed with the SEC, the Omagine Development will Generate over $600 million in profits over the five years immediately following approval of the project. 

70% of $600 million = $420 million

Allow for some dilution say 10 million shares = 45million (current) + 10 million = 55 million shares outstanding.

Value = $7.63/ share

Discount for time @50% = a present day value of $3.82/ share

** All these figures are dependent on Gov. Approval of the Projets