Risk factor
Critical default risk
Profitability factor
Greatly undervalued vs peers
About
Omagine, Inc., operating through its various subsidiary entities, concentrates its business endeavors on entertainment, hospitality, and property development, primarily across the Middle East and North Africa. The firm specializes in the design, execution, and construction of integrated tourism and residential real estate projects. Established in New York, New York, Omagine, Inc. was incorporated in 2004. However, on March 10, 2020, the company, together with a related affiliate, sought protection and initiated a voluntary reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.
Company Valuation
From both historical and forecast perspectives, the stock is considerably underpriced compared to similar stocks.