Facts

One mile of Ocean Front, One Incredible Real Estate Development

Multi-Billion Dollar Agreement Signed With Oman

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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John Paul

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Facts

posted on Mar 06, 2017 09:05AM

My take on the entire story so far:

Fact 1

Omagine is sitting on a land worth $700mil +, with exclusive rights to develop it.

Fact 2

Oman Government is fully supporting this project. Signing of DA, and patiently waiting for management to put its house in order for so many years is astonishing.

Fact 3

Royal Court is a Shareholder in this enterprise.

Fact 4 (suggestion)

It is always relatively easy to raise money for a safe and sound investment, and this one looks a clear winner.

What is the problem then? Omagine obviously needs urgent cash injection of at least $15mil-$20mil to start the ball rolling.

Taking into account all of the facts, the present situation seems inconceivable to me. Not being able to find a decent partner and/or raise that much money in this particular scenario, is suggesting some monumental problems in the entire concept. We all believe the Management is doing everything possible to achieve this goal, and they may well know something that we do not, but it may be the time to rethink the entire financial construction (Shareholdings, Omagine, Omag, LLC, Strategic Partnerships and so on...), and try to deal with it some other way.

(Financing the project of this scale in this particular way is not so usual, and it is proving to be extremely difficult.)