I would guess there are two major actvities going on, one of which the management controls and one of which the ministers control:

1) Management needs to chase first round financing (or more likely, first round financing is chasing management). The structure of this deal is arguably the most important decision Frank has to make. The issues are control of the company and preserving current stockholder value. A truly seminal step for Omagine. Although we would all appreciate timelyness, to say the least, the high stakes involved in this step must require the utmost in smart decisions by management. This is where Frank et al earn their keep.

2) the land transfer needs to be finalized. I think this is in the Omanis court, and proceeding at their historically glacial pace. History and signed agreements tell us it will happen, but when is anybodies guess. I would guess soon.

When these happen, the companies balance sheet will remind us of the 2013 Red Sox.. last to first. The announcement should be a bombshell.