THAT HEAVENLY WORD:--- "BREAKEVEN"
posted on
Feb 16, 2014 07:09PM
Multi-Billion Dollar Agreement Signed With Oman
While many of us are busily calculating our "breakeven price", I just wanted to offer a "heads up" for those of us "old timers"--not in age, but in length of time holding OMAG stock, to be sure to factor in the stock split on December 30th, 2009. The split ,disregarding the "hokus pokus" of the 100- for- one REVERSE split followed by an immediate 1- for- 20 FORWARD split, yielded a net effect of a 5-for-one REVERSE split.In essence, if you held 1000 shares @ $1.00/share, before the REVERSE split you now were the proud owner of 250 shares worth $4.00/share after the split. Note that your total value before the split was $1000.00 (1000 shares @$1.00) and immediately after the REVERSE split your value was unchanged @$1000.00.(250 shares @$4.00). I'm going through through this exercise solely for those of us that owned the stock prior to the date of the split so that you calculate your breakeven correctly. The easiest way for me to calculate my cost basis is to simply add up what I paid for all my stock(purchased at various times over the years) including commissions and fees,then divide by the # of shares I own today and presto , I've got my cost which is the same as my breakeven price.I don't have to bother with those pesky splits at all. After this long, long ride in my mind, you should be looking to triple your investment if not more,---BILL. ( The accountant) P.S. when you consider warrants etc. in the future , I shall defer to MY accountant, Alton.