Sure, Bill, drag me back into this! 

OK, at the 100% risk of repeating this mantra for the zilionth time:

Book value means nothing ... unless they start the activities leading to the movement of sand leading to building stuff leading to pre-sales leading to revenue leading to profit (after a period of time of who knows how long, but hopefully less than a year?).

All of which MAY lead SOME in the market to conclude that, "Hey, this actually may happen!"  And if it MAY happen, and if it IS happening, then the projected net cash flows and income will mean the book value MAY mean something.  

And, upon further analysis and consideration, when one considers the embedded profit due to the very low cost of the land to Omagine LLC, that book value may look awfully awesome. 

But first, management has to succeed where they haven't and that is to get an investor in.  This should have occurred Q1 of 2017 (and I'm not talking about the deceased gentleman's estate). 

Back to my rock.