Notwithstanding sourpusses, thought I'd share another interesting tidbit. Keep in mind this is ALL PREDICATED ON THE DA GETTING SIGNED.

In earlier posts, I showed how the book value would increase for a number of reasons by approximately $3.00/share ... BEFORE consideration of the land that will be conveyed to LLC. In that calculation, I left out some other dollars that should have been included as they will likely be listed as receivables (an asset). So the $3 is somewhat understated.

Then I discussed the land and showed how that would add $270m to Omagine Inc though it's 60% ownership of LLC. That added a whopping $18/share (there are 14.93 million shares outstanding as of 9/30/13).

What I did not discuss was the per share book value of the projected NET CASH INFLOWS (after expenses) over the 6 year construction period as the company sells units (pre-construction, post construction, etc.). It was disclosed in one of their reports in 2012, but I don't recall which one. But it's there. Anyway, Omag has previously disclosed that construction expenditures are estimated to be $2.5 billion and the profit from those expenditures would amount to $900m (through LLC). The net present value (NPV), as calculated by management and disclosed in the aforementioned report, of this figure is $450 million. That's another way of saying that if you invested $450m today at some undisclosed interest rate over the next 6 years and adjusted for anticipated timing of those inflows, it would grow to $900 million in year 6.

From an investor's perspective, we are interested in the NPV. So we investors would benefit by 60% of $450 million, or $270 million. Which is also $18/share.

So, IF THE MARKET were to value OMAG based on book value (big IF ... investor beware, etc.), this would imply roughly $40/share in book value. If the DA gets signed. If the land is valued $450m. If the market agrees with management's NPV assessment.

I'm not saying all of this will happen ... but it's at least an "argument" for a "bit of a pop" in share price once the ink hits the paper.

Remember, there are meetings going on this week and if the parties are sincere, looks like they all want this done by 12/15/13.

For all of you who question their sincerity, we already got that. This is IF THEY ARE SINCERE ... If they don't sign, then clearly ... and that can happen. But in the mean time, I'm a hoping!

Happy Thanksgiving to one and all! You, too, Gibby! I mean that sincerely!