Agoracom, CCC & NEWCO have agreed to purchase shares in the equity participations in the development companies of Omagine. Do these contractual agreements amount to firm, binding agreements - based on obvious contingencies - by CCC & NEWCO, or are they preliminary letters of intent?

So far, the Emir and Frank Drohan have signed on the dotted line of a preliminary DA, which the Dept. of Tourism is checking for form and consistency. I enterpret this as a "virtually done deal." Yes"

Yet the stock is 60 cents asked!

What am I missing?

harrell