Dear haligonian, thank you for your inquiry. As of May 12, 2007, the Omagine/Alfa had outstanding 39,674,656
shares of Common Stock. The Company has designated 150,000 shares of its $0.001 par value preferred stock as "Series B Preferred Stock". The face value of the Series B Preferred Stock is $40 per share and dividends accrue at 5.0% per annum. Each share of the Series B Preferred Stock is convertible at the option of the holder, at any time, into 40 shares of Common Stock. Accrued dividends shall, at the
Company's option, be paid in cash or in shares of Common Stock
valued at $1.00 per share. The expiration date for all common
stock purchase warrants held by holders of Series B Preferred
Stock is July 31, 2007.
Stock options outstanding at March 31, 2007 (all non-qualified)
consist of:
Year Number Number Exercise Expiration
Granted Outstanding Exercisable Price Date
------- ----------- ----------- -------- ----------
1997 125,000 125,000 $ .10 November 5, 2007
2001 750,000 750,000 $ .25 August 31, 2011
2004 60,000 60,000 $ .17 October 31, 2009
2005 30,000 20,000 $1.00 June 30, 2010
2005 200,000 200,000 $ .82 December 14, 2010
2007 800,000 0 $ .25 March 31, 2012
--------- ----------
Totals 1,965,000 1,155,000
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The 10,000 unvested options relating to the 2005 grant are
scheduled to vest on July 1, 2007. The 800,000 unvested
options relating to the 2007 grant are scheduled to vest
160,000 on April 1, 2007 and 160,000 each April 1 thereafter
for four succeeding years. As of March 31, 2007, there was
$100,378 of total unrecognized compensation cost related to
un-expensed stock options. That cost is expected to be
recognized $18,559 in the nine months ending December 31,
2007, 20823 in 2008, $18,768 in 2009, $18,768 in 2010, $18,768
in 2011, and $4,692 in 2012.
Warrants outstanding at March 31, 2007 consist of:
Year Number Number Exercise Expiration
Issued Outstanding Exercisable Price Date
------ ----------- ----------- -------- ----------
2002-2005 4,100,500 4,100,500 $ .75 July 31, 2007
2005 20,000 20,000 .20 December 19, 2007
2005 62,235 62,235 1.00 June 8, 2007
2005 257,732 257,732 .97 December 7, 2010
--------- ---------
Totals 4,440,467 4,440,467
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Regards,
AGORACOM Investor Relations
