There have been a number of comments and discussions regarding the float. Allow me to add to the confusion. I believe thoughts of involving hedge funds, institutions and 'too big to fail' banks to bolster the price of OMAG are, at this point in time, premature and impractical. First off, the hedge funds et al have no interest at all in a $2 stock. Secondly, artificially introducing a reverse split to raise the stock price to a level palatable to the

There have been a number of comments and discussions on the float. Allow me to add to the confusion. I believe the thought of involving hedge funds, institutions and 'too big to fail banks' are both premature and impractical. First off, these institutions would have no interest at all in a $2 stock. Secondly, atificially introducing a reverse split to bolster a stock price isn't going to work here. A 1-5 reverse split might get the stock price to 10, a palatable level for instittuional investors, but that would reduce the oustanding shares from 15 million to 3 million, and that would not be palatable. Thirdly, before a regular stock split can be up for consideration OMAG would have to rise to at least 15. At that price, a 3-1 split would increase the float to 45 million shares and reduce the stock price to 5. With a 3-1 split, a 30 stock price would decrease the stock price to 10. At a price of 30, a 5-1 split would increas the float to 75 million shares and reduce the stock price to 6. You can do the math and play around with any combination of numbers but my point is, at this point in time, with the stock at $2, stock splits are premature and impractical.

But all is not lost. The dynamics of supply and demand can propel the stock to levels that may then have institutional appeal. Let me explain. Of the 15 million shares outstanding, I consider 70% to be closely held ( 30% by Omagine 's management [I believe that figure to be correct] and 40% by the Sultan's group.) That leaves a float of 4.5 million shares. 15 miion shares are considered to be a thin float. 4.5 million ... miniscule. Once the DA is signed, and I'm assuming it will be signed, the anticipated heavy demand for OMAG stock would so overpower the meager supply I cannot predict how high it will send the stock.

That's all folks!!

'big boys