OTC Bulletin Board S & P Company Insight for OMAGINE INC
Profile
	Business Summary: Omagine, Inc., through its subsidiaries, operates as a real-estate development, entertainment, and hospitality company primarily in the Middle East and North Africa.   Address   350 Fifth Ave.   Suite 1103   New York , NY 10118   Phone: 212-563-4141   Fax: 212-563-3355   Website: http://www.omagine.com Transfer Agent   Continental Stock Transfer & Trust Co. Employees:  3 ShareHolders:  826 Founded:  1978 Domicile:  Delaware
Background
	Omagine, Inc., through its subsidiaries, operates as a real-estate development, entertainment, and hospitality company primarily in the Middle East and North Africa. It focuses on the development, building, ownership, and operations of a tourism and residential real-estate development project, known as Omagine project, in the Sultanate of Oman. The company was formerly known as Alfa International Holdings Corp. and changed its name to Omagine, Inc. in June 2007. Omagine, Inc. is based in New York, New York. History:  INCORPORATED in Delaware Oct. 8, 2004 as Alfa International Holdings Corp., and on May 23, 2005, merged Alfa International Corp., a New Jersey concern incorporated on Aug. 10, 1978. Name changed to Omagine, Inc. June 13, 2007. October 11, 2005, issued 16,284,278 Common shares to acquire the outstanding shares of Journey of Light, Inc., a privately held company incorporated in 2003.   Subsidiaries: Journey of Light, Inc.     Capital Expenditures, thousand. US Dollars   Year   Amount   2009   2   2008   0   2007   26
Management
	Management Officers Position  Frank J. Drohan Chairman, President, Chief Financial Officer & Chief Executive Officer  William  Hanley Chief Accounting Officer & Controller  Charles P. Kuczynski Secretary Directors  Salvatore J. Bucchere  Frank J. Drohan  Kevin O'C. Green  Charles P. Kuczynski  Louis J. Lombardo
Annual Report
	Annual Report   Income Statement   2009 2008 EXPENSES Selling, General and Administrative (1,083,692) (1,308,003) Interest Expense (30,841) (7,769) Interest Income 124 8,142 Net Income (Loss) (1,114,409) (1,307,630) SUPPLEMENTARY INFO Operating Income (Loss) (1,083,692) (1,308,003) Basic Eps-continuing Operations (0.12) (0.14) Diluted Eps-continuing Operations (0.12) (0.14)   Balance Sheet   2009 2008 ASSETS: CURRENT ASSETS Cash 155,821 49,511 Prepaid Expenses and Other Current Assets - 40,774 Total Current Assets 155,821 90,285 NON CURRENT ASSETS Leasehold Improvements 866 866 General Plant 17,800 17,800 Office and COmputer Equipment 131,412 129,941 Furniture and Fixtures 15,951 15,951 Accumulated Depreciation (156,968) (150,719) Other Assets 13,606 13,749 Total Assets 178,488 117,873 LIABILITIES: CURRENT LIABILITIES Accounts Payable 455,724 356,368 Accrued officer's Payroll 327,000 72,500 Accrued Expenses and Other Current Liabilities 27,731 6,345 Convertible Notes Payable and Accrued Interest 313,464 238,728 Due Officers and Directors 10,153 26,335 Total Current Liabilities 1,134,072 700,276 SHAREHOLDERS' EQUITY Common Stock-par Value 10,661 9,278 Additional Paid in Capital 18,030,176 17,290,331 Retained Earnings (Deficit) (18,996,421) (17,882,012) Total Shareholders Equity (955,584) (582,403) Total Liabilities & Shareholders Equity 178,488 117,873
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   1 Nil   2009   2 Nil   2009   3 Nil   2009   Full Year Nil   2008   1 Nil   2008   2 Nil   2008   3 Nil   2008   4 Nil   2007   3 30,000   2007   Full Year 30,000   2006   2 30,000   2006   3 100,000   2006   4 50,000   2006   Full Year 1,180,000   2005   2 40,000   2005   3 110,000   2005   4 270,000   2005   Full Year 270,000     Quarterly Net Income, US$ Year Quarter Revenue   2010   1 (310,000)   2010   2 (300,000)   2009   1 (370,000)   2009   2 (200,000)   2009   3 (260,000)   2009   Full Year (1,110,000)   2008   1 (250,000)   2008   2 (310,000)   2008   3 (230,000)   2008   4 (510,000)   2008   Full Year (1,310,000)   2007   3 (310,000)   2007   4 (390,000)   2007   Full Year (1,040,000)   2006   Full Year (770,000)   2005   Full Year (6,050,000)     Quarterly EPS, US$ Year Quarter Revenue   2010   1 (.03)   2010   2 (.03)   2009   1 (.05)   2009   2 Nil   2009   3 Nil   2009   4 (.03)   2009   Full Year (.12)   2008   1 (.05)   2008   2 (.05)   2008   3 Nil   2008   4 (.05)   2008   Full Year (.15)   2007   1 Nil   2007   2 (.05)   2007   3 (.05)   2007   4 (.05)   2007   Full Year (.15)   2006   1 (.10)   2006   2 .05   2006   3 (.05)   2006   4 (.05)   2006   Full Year (.15)   2005   1 (.10)   2005   2 (.05)   2005   3 (.05)   2005   4 (1.95)   2005   Full Year (1.95)
Stock Data
	Capitalization as of 03/31/2010:     Authorized Shares Outstanding Shares Common $0.001 par 50,000,000 11,034,157 Preferred $0.001 par 850,000 None   LONG TERM DEBT: None.   Common $0.001 par   Stockholders:  12/31/2009, 826. Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY   OTC Bulletin Board( Primary): OMAG   Exchange Year High Low OTC Bulletin Board 2009 0.5000 0.0500 OTC Bulletin Board 2008 1.4500 0.2500 OTC Bulletin Board 2007 2.9500 0.0800 OTC Bulletin Board 2006 0.7000 0.1047 OTC Bulletin Board 2005 1.5000 0.2500   DIVIDENDS: Common $0.001 par: None.