RE: USGA
US Global Nanospace, Inc. Corporate Update
Tuesday December 9, 7:15 am ET
CARSON CITY, NV--(MARKET WIRE)--Dec 9, 2003 -- US Global Nanospace, Inc. (OTC BB: USGA) today issued the following update detailing corporate developments in concordance with their established regimen for updating shareholders when significant milestones are achieved.
US Global Nanospace has been successful in bringing to the homeland security and defense market several nanotechnology-based products during the past 12 months as well as obtaining exclusive rights to produce and market ALL-CLEAR Chem/Bio Decon Foam. The company has been extremely successful in generating interest for its products and has entered into evaluation and testing relationships with several national and international clients in the public, private and governmental sectors which are now evolving into strategic alliances and agreements. The company has also solidified manufacturing relationships for its products to give it the ability to fulfill significant orders on an expedited basis. Contract manufacturers based in Illinois, Ohio and Israel for the up-armoring product line, including the S.A.G. Turret, GARDS Humvee door armor and Blast-X-based floor and side armor have been identified, cleared and approved. A national and multi-national manufacturer/distributor is also in the process of being certified for mass production and distribution of ALL-CLEAR for the homeland security and first responder markets.
The company's executive, operations, research, product development and manufacturing locations have also undergone a major refit and compliance evaluation to ensure that the company complies with enhanced security requirements designated by potential clients. This process was also integral to completing manufacturing agreements. The company is also in negotiations to acquire one of the only electro-spinning machines available worldwide for large-scale production of carbon and polymer-based nanofibers which will not only satisfy US Global's operational requirements but will also allow the company to provide their unique materials to universities and other research organizations worldwide.
"We are working diligently to get our products where they are needed most desperately in the shortest possible time and the military is doing everything they can to ensure the stringent testing, evaluation and operational requirements are fast tracked for our up-armoring solutions. Our immediate objective is to provide installation on select U.S. Forces in the U.S. and abroad before and as they rotate into Iraq," stated John Robinson, Chairman and CEO of US Global Nanospace, Inc. "I reiterate that most of our forthcoming business opportunities are in security sensitive areas that do not lend themselves to public scrutiny but we will continue to keep our shareholders informed in strict adherence to Departments of Defense, Homeland Security and SEC regulations."
Product Line Developments
ALL-CLEAR™ Chem/Bio Decon Foam
The Company has been successful in generating worldwide interest in ALL-CLEAR Chem/Bio Decon foam among the first responder, emergency services communities, and defense agencies. Negotiations are in process with a major multinational corporation for worldwide manufacturing, marketing, and distribution of ALL-CLEAR and its derivative products. Recent streamlining in the Department of Homeland Security grant application process has also eased and expedited the paperwork required for first responders to request funds with which to acquire ALL-CLEAR. The company is focusing marketing efforts on the military and on metropolitan area first responder units most likely to require decon solutions. In addition, ALL-CLEAR is being efficacy tested internationally for eradication and containment of both Hoof-and-Mouth and Mad Cow diseases and for use in other wide area applications, such as decontaminating aircraft arriving from quarantined areas and decontaminating farms and ranches. Agricultural utilization is a major new market for the company.
G-LAM™ Antiballistic Nanomaterial
The newest iteration of G-LAM anti-ballistic nanomaterial, G-LAM-C™, incorporating a proprietary composite assembly, has passed ballistic resistance and non degeneration tests and is being incorporated into higher threat-level versions of the current product lines. All operations relating to this are now considered highly confidential.
Blast-X™ Explosion Mitigation Panels
Blast-X has been approved for use in up-armoring Humvees and other military and security vehicles. In addition, it is being evaluated for use in constructing no-ricochet mobile live fire training rooms, such as those used to train SWAT teams for hostage situations, in combat field containers and theater of operation residential structures.
NanoFilter™ for Airborne and HVAC Applications
The company has produced demo units and is working to obtain FAA approval for its NanoFilters for specific aircraft models as the final requirement before going to contract with a forward-thinking air carrier. The NanoFilter is proven to efficiently capture airborne pathogens, including sub-micron particulates substantially reducing the spread of air travel-transmitted epidemics & pathidemics such as SAR's and is especially timely given current recurrence concerns. The company is currently bidding and providing technical proposals on several major commercial HVAC installations including health facilities, casinos and schools.
NanoFilterCX™ for Reducing Toxin Transmission in Tobacco Products
US Global has established documented relationships with several of the world's most recognized tobacco companies as well as the leading international cigarette filter manufacturer to validate and optimize utilization of the NanoFilterCX in their products. Interest is very high as NanofilterCX is the only high efficiency mechanical filtration means available today, all other recent filter products are chemical-based, do not bio-degrade and in addition require lengthy government approvals. NanofilterCX is not only biodegradable but there is no residual ingested effect to the smoker as occurs with chemical-based filters.
S.A.G. Turret™ for the Humvee
Specific project information is not publicly available until government approval is received and details of proposed shipments can be released however, long term we are now coordinating with potential future manufacturers of the HumVee or its improved hybrid to ensure the S.A.G. Turret becomes a standard fixture on the appropriate models.
In Conclusion
"US Global's new financial reporting systems have allowed the company to report the past quarter in a timely manner. To clarify current questions regarding shareholdings, the company has approximately 86 million shares outstanding and with well over 50 percent held by officers and directors, current effective float is in the range of 11.5 million shares," said Mr. Robinson. "We continue to expect to show significant revenue growth in our 2003 fiscal year fourth quarter ending March 31, 2004. Regarding funding, we have current existing banking and funding relationships capable of providing sufficient operational funding when and if required."
US Global Nanospace, Inc. (OTC BB: USGA) is an applied nanotechnology company focused on developing products for commercial and defense applications to enhance and save lives worldwide. US Global's primary materials and products include G-Lam, G-Lam-C, NanoFilters, NanoFilterCX, All-Clear Chem/Bio Decon Foam, S.A.G. Turrets, BlastX, G-Armor and RadomeX. More information is available at usgn.com.
Safe Harbor Statement: These statements are based on assumptions that the management of US Global Nanospace, Inc. believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of US Global Nanospace, Inc. and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and are subject to a wide range of business risks, external factors and uncertainties, the lack of acceptance of the company's products by its customers and prospects, the inability to secure necessary product sales and the inability to obtain necessary substantial capital to manufacture and market its product and otherwise implement its business plan. In each case, actual results may differ materially from such forward-looking statements. US Global Nanospace, Inc. does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
Contact:
Media and Investor Contact:
Rich Schineller
973-960-6962
rich @ usgn.com |
