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Non-Tech : US Global Nanospace (USGA)
USGA 0.00002000.0%Mar 7 3:00 PM EST
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To: scion who wrote (113)2/26/2004 9:42:59 PM
From: scion   of 132
 
NOTE: 23 FEBRUARY 2004 - USGA FILES 10Q - ADDS IMPORTANT DISCLOSURE.

It's amazing how a little exposure by Our-Street.com helps improve the thoroughness of a company's disclosure. This paragraph was added to the company's most recent 10Q filing. It was not included in previous filings.

"Our earnings for the quarter and the period ended December 31, 2003 continue to reflect our status as a development stage research company. While many of our products are developed and can be marketed, we do not have the infrastructure or financial resources to manufacture and distribute our products. Our efforts are currently focused on establishing worldwide distribution channels through recognized distributors. However, although we are currently in negotiations with one or more recognized distributors, we have not executed any distribution agreements thus far. Therefore, we do not currently have a significant market presence and our products have not been proven by consistent commercial use. Additionally, sales of products geared to the defense and homeland security markets are often tightly controlled and require decisions to be made by one or more government agencies. There can be no assurance that our products will be purchased on a significant scale or commercially proven in the near term. Because we have not yet realized revenues from the sale of our products, as in the past we will need our majority shareholder to continue loaning the funds needed to continue our operations for the near term."

our-street.com
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