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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUE:        
Total revenue
OPERATING EXPENSES:        
Officers and directors compensation (including stock-based compensation of $75,135, $135, $301,520 and $76,520, respectively) 112,385 93,885 464,353 264,020
Professional fees 31,875 77,912 76,481 133,019
Consulting fees (including stock-based compensation of $0, $13,365, $0 and $23,681, respectively) 359,957 125,762 437,793 331,055
Travel 124,764 167,709 274,599 306,594
Occupancy 14,451 38,267 30,967 78,736
Other selling general and administrative 87,428 68,568 153,221 161,066
Total Costs and Expenses 730,860 572,103 1,437,414 1,274,490
OPERATING LOSS (730,860) (572,103) (1,437,414) (1,274,490)
OTHER (EXPENSE) INCOME        
Amortization of debt discounts (15,000) (6,550) (38,333) (16,300)
Interest expense (19,709) (14,387) (33,370) (26,202)
Other (Expense) - Net (34,709) (20,937) (71,703) (42,502)
NET LOSS (765,569) (593,040) (1,509,117) (1,316,992)
Add net loss attributable to noncontrolling interests in Omagine LLC 3,838 43,432 26,285 77,409
NET LOSS ATTRIBUTABLE TO OMAGINE, INC. $ (761,731) $ (549,608) $ (1,482,832) $ (1,239,583)
LOSS PER SHARE - BASIC AND DILUTED $ (0.04) $ (0.03) $ (0.08) $ (0.07)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED 19,669,797 17,191,539 19,272,712 17,063,846