One mile of Ocean Front, One Incredible Real Estate Development

Multi-Billion Dollar Agreement Signed With Oman

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Message: Excerpts from the 8-K Report:

Dear shareholders,

 

Omagine, Inc. has today filed with the SEC a current report on Form 8-K (the “8-K Report”).

 

Below are certain excerpts from the 8-K Report. The excerpts do not purport to be or represent the full filing. Please use the following link to view the complete text of the 8-K Report:

https://www.sec.gov/Archives/edgar/data/820600/000121390017010693/f8k100617_omagineinc.htm

Excerpts from the 8-K Report:

 

Item 8.01 – Other Events\

 

Further to its continuing efforts to maximize clarity and transparency for its shareholders with respect to some inherently complex matters, the Company is providing the following information. As previously disclosed the Company continues to address its chronically recurring cash liquidity issues via sales of Notes such as the Auctus Convertible Note and other notes and equity sales via private placements with accredited investors and/or via the SEDA with YA. The Company uses the proceeds from such debt and equity sales to continue its financial support of its majority owned subsidiary Omagine LLC (“LLC”). As has frequently been the case in the past the Company is presently in a tight cash position because it alone is financially supporting LLC because of CCC’s default and RCA’s delayed payment of its required investment into LLC (See our June 30, 2017 report on Form 10-Q filed with the SEC for further details). As in the past, the Company continues its efforts to raise cash to pay its obligations as they come due, some of which are past due as of the date hereof. The Company is in discussions with a European investment fund and expects to close an equity sale at LLC by the end of November (although no assurance of this can be given until it is actually accomplished). The Company is also in discussions with Royal Court Affairs (RCA) which is the Company’s partner in Omagine LLC in order to induce RCA to invest its overdue $20 million equity investment into LLC. The conclusion of either one or both of these equity investments will result in a substantial payment by LLC to Omagine, Inc. which would resolve the Company’s long-standing cash liquidity issues.

 

Forward Looking Statements

 

Certain statements made in this report on Form 8-K are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the future results implied by such forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company's actual results could differ materially from those set forth or implied in such forward-looking statements.

 

Regards,

 

AGORACOM

 

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