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Non-Tech : US Global Nanospace (USGA) -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (75)	2/24/2004 10:32:45 AM
From: scion	Read Replies (1) \| Respond to of 132

NOTE 1. FINANCIAL STATEMENTS The unaudited financial statements of US Global Nanospace, Inc. (the Company) have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year ending March 31, 2004. The accompanying unaudited financial statements and related notes should be read in conjunction with the audited financial statements and the Form 10-KSB of the Company for its fiscal year ended March 31, 2003. Effective July 21, 2003, the Company changed its name from US Global Aerospace, Inc. to US Global Nanospace, Inc. NOTE 2. NET LOSS PER SHARE Basic loss per share is based on the weighted average number of shares outstanding during each period and income available to common shareholders. Loss per share assuming dilution is based on the assumption that outstanding stock options and warrants were exercised. The weighted average shares for computing basic loss per share were 85,626,441 and 81,894,646, for the three and nine months ended December 31, 2003 and 56,076,015 and 66,871,050 for the three and nine months ended December 31, 2002 and 83,088,204 since inception (March 20, 2002) through December 31, 2003, respectively. At December 31, 2003, there were 4,463 shares of potentially issuable common stock. Because of the net loss for the three and nine months ended December 31, 2003 and 2002 and since inception (March 20, 2002) through December 31, 2003, potentially issuable common stock was not included in the calculation of diluted loss per share as their inclusion would be anti-dilutive.