While I understand your logic and frustration, aren't you assuming that all of us have put all of our liquid funds into OMAG? Why would management assume that we've all bet the farm? How would they know that? The point of the rights offering wasn't and isn't to exchange our current shares for lower priced shares. The point is to increase the float and to reward long suffering shareholders with a good price (assuming the DA gets signed, of course).

My disappointment is that the rights offering is not being extended. We can read that in a couple of ways. But I think the most logical view is that if they were to extend it, management would be sending an unwanted signal that the DA will continue to be delayed. That does seem to be the likely outcome. However, it is encouraging that they are finally getting a meeting in a few days. I'd like to assume that Frank will be every bit as forthcoming in that meeting as he was on 12/10/2011. Frank, if you're reading this, why not ask them to sign the DA now, whilst everyone is in the room? Save them the bus fare, time, etc. No better time than the present, guys! So what'dya say, let's sign now, ok? And if you act now, we'll throw in a toaster and an alarm clock as well as a nice set of pens.

I read Frank's excercise as very positive. If anyone has bet the farm, he has and to double down is extremely risky. The fact that he has done that gives me a great deal of comfort. I still haven't decided what I'm going to do yet, but I have a few days left to decide. I may likely excersise at least a portion.