US Global Nanospace (USGA) Message Board

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Non-Tech : US Global Nanospace (USGA)

USGA 0.0000200

0.0%

Mar 7 3:00 PM EST

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To: scion who wrote (78)	2/24/2004 10:35:08 AM
From: scion	Read Replies (1) of 132

NOTE 6. RELATED PARTY PAYABLE The Chairman and CEO of the Company controls Aerospace, which has licensed the intellectual property to the Company as described in note 5. Aerospace has provided employees and product development services to the Company. Since inception (March 20, 2002), Aerospace has provided such services totaling approximately $2.9 million for which the Company currently owes Aerospace $306,695 as of December 31, 2003. As of January 1, 2003, Aerospace substantially discontinued all of its operations and the Company hired certain employees from Aerospace. Aerospace continues to provide certain supplies and services to the Company.

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