Per the June 2013 quarterly report (only one I have printed out and handy), page 19:

"... sold 1,014,032 common shares for proceeds of $1,267,540" [$1.25/share]. Offering was between 2/24/2012 and 3/30/2012.

On page 22 it talks about warrants. 6,422,124 common stock warrants issued to common stockholders of record as of 2/24/2012. Each warrant is exercisable for the purchase of one share of common stock. Half of them (3,211,062) are exercisable at $5/share and the rest at $10/share. These warrants now expire on 12/31/2014 (initially, they were to expire at end of 2013 ... but this was extended). I don't see it in the document in front of me, but my recollection was that we received one warrant for every 4 common shares we owned. CAN SOMEONE VERIFY OR CORRECT THAT FACTOID FOR US, PLEASE? So if I owned 100 common shares, I would have received 25 warrants.

FYI, assuming all warrants are exercised, this would increase the float by 6.4m shares, or 46% (6.4m shares issued to warrant holders / 13.9m currently outstanding shares). For those of us holding and excercising these warrants, our investment in Omagine is not diluted. Also, assuming 100% excercise, this would raise roughly $16m in new capital from the $5 warrants, $32m in new capital from the $10 warrants ... for a total of $48m in new equity for the company.

Hope this helps answer your question. Regards ...