Agoracom already confirmed useful information (See Discussion Topic, April 18) to help form OMAG's valuation benchmarks prior to the arrival of earnings and cash flow numbers.

After the Development Agreement (DA) is signed, CCIC and NEWCO will invest $99.0 million, or $2.97 per OMAG share, for 33.3 million shares of founder stock- a private investment normally having a very high return potential.

This would result in total shares outstanding of 79.3 million, and a book value of over $1.30 per share, including the company's Success Fee of $5.0 million. Until sales and profits become visable, Mutiple of Book Value is a good benchmark of value. What's OMAG's???

New issue startups,like spring foals, are judged by their confirmation. OMAG's confirmation should excite even the most cynical investor. It amounts to OMAG's weighted composite made up from: the business plan, management quality, financial strength, supply/demand for product and service, investor recognition and predictability factors.

Unquestionably, OMAG's confirmation is extra special. and warrants, in my opinion, a multiple of 5 to 10 times pro forma Book Value of $1.30.

Thus, the Post DA Price Target of $6.50 - $13.00. Since the DA is highly likely at this point, the current market price discount should be below 50%. It's currently at 87% of the low range!

harrell