Also as previously reported, management has been holding discussions in parallel with several potential LLC investors and as of the date hereof, we are in final discussions with several such investors and have a signed agreement with one such investor.

We presently expect to amend the Shareholder Agreement as necessary to memorialize the new arrangements and revisions to which the LLC Shareholders may agree (the “Amended and Restated Shareholder Agreement”). We presently expect that the Amended and Restated Shareholder Agreement will be signed by the parties within the next month and that serious design, development and construction activities on the Omagine Project will begin during the first quarter of 2017.

Management has also been conducting parallel project finance discussions with a bank other than the Omani Bank with whom CCC has a business relationship, and we expect a successful conclusion to that discussion to occur soon after the Amended and Restated Shareholder Agreement is executed by the parties.

It also seems that thr Financial Advisor and Bank coming aboard may be in the 2nd quarter after the restated shareholder Agreement is executed.   As seen in the above writing that was in the last SEC document by Omagine, is that 1 investor has signed and maybe 2 more are in the last stage of signing.   I believe the amended agreement will be held up, until all or one of these investors sign and are included in the agreement.