I though the Seeking Alpha piece was very well articulated and pleased to read it. Is this our first official analyst coverage
Alton, as our unofficial analyst did you notice any issues with the analysis? I can’t say for certain but I thought the ~5% of LLC that was earmarked to potentially be used to raise additional capital is currently unallocated. Therefore if it was used for these purposes it would not affect Inc.’s current stake of 60%.
Here is the excerpt:
“…Omagine, Inc. has indicated it will seek new investors to purchase a small stake in Omagine, LLC in order to raise capital for initial work on the Omagine Project. I'll assume Omagine, Inc. will end up with a 55% ownership in the LLC…”