This is the first "coverage" I've seen in the 3.5 years I've been onboard. I didn't see any problems with his analysis, other than it was/is better than mine. Not sure what you mean by the 5% being unallocated. However, if Inc sells another 5% of it's holdings in LLC, Inc's ownership drops to 55% ... and it's share of LLC's book value, on a consolidated basis, is also 5% less, or 55%. So this WOULD impact us. That being said, I think it's just one of 3 active financing options managment is looking into and I think they are more likely to go with a secured loan to LLC or the sale of convertible promissory (debt) notes as that would be much quicker and not "dilute" the 60% ownership.

We could see some combination ... remember, management just raised some $ by selling another 400,000 restricted shares of OMAG to outsiders for $2.00/share ... so maybe a little of each alternative financing option.