Forget about 50%. Percentages mean nothing against a tiny base. The market has to value the company based on any number of variables. In this case, the current valuation is based solely on the hope/expectation/whatever you want to call it ... that the book value will jump to high levels. The low price reflects the wait-and-see. It either tanks to nothing or jumps dramatically. The jump will reflect the CONTRACTUAL OBLIGATIONS (Gibby) of the parties to contribute the real estate and various large and small sums to the company. The tanking will reflect utter failure.

If the last couple of 8ks are to be believed, the signing is either days (this week) or a week away. UNLESS the Omanis have yet another complaint/change/etc. But it seems all those wrinkles have been ironed out with the top guy and his minions.

So cheer up, or at least hold back on the negative comments for a little while longer.

To all the naysayers: If you don't think this is going to happen, go ahead and sell shares for 78 cents or whatever. There is a market out there; so go ahead and recognize your paper losses and be done with it. If you hold and this folds, then you've lost everything. But if you're holding because you don't want to recognize your losses, that would imply that some tiny voice inside of you is saying that you think this might get done, so hold on a little longer. We are so close, so let's all be quiet for a little longer and see what happens.

If we don't hear anything by the end of next week, I will be on the phone with Frank "venting". Not that it will do any good, but he'll hear from me for sure! He has in the past.