Alton,

I did some research on OMAG's potential market valuation vs its book value (Price to Book)and came up with some very interesting facts. First some simple facts: 1. Price to Book is a variable...higher in a bull market and lower in a bear market. 2. The higher a stock's P/E or no P/E the higher the Price to Book. 3. The more speculative the stock the higher the Price to Book. The more mature and established the company the lower the Price toBook.

Here are some exaamples of current Prices to Book: Facebook 9.6, Yelp 6.7, Twitter 7.8, Intel 2.2, Pfizer 2.5, Microsoft 3.7, Apple 4.1. How does this relate to Omagine...I'm coming to that.

My research led me to Yahoo's search engine and I invite you to do the same. As an example, I typed in "Twitter book value." I use Twitter as an example because it relates to Omag in that it has no earnings and no P/E. "Twitter Book Value" led me to a link entitled TWITTER PRICE to BOOK VALUE which like provided me with th current Price to Book and pertinently to the right side of the page with references to "Twitter Price to Book Value Benchmark" and "Twitter Price to Book Value Range Past 5 Years." Interestingly, Twitter's range is 56.6 high, 7.8 low and 18.6 average. That's quite a spread.

Based on all these ratios, and assuming the DA is signed and your book value figures are correct, as I'm sure they are, then, in time, there should be an explosion in Omag's stock price. I'll leave quantifying that price to someone better qualified.