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

To: scion who wrote (77)	2/24/2004 10:34:32 AM
From: scion	Read Replies (1) \| Respond to of 132

NOTE 5. INTELLECTUAL PROPERTY ASSIGNMENT AND ROYALTY AGREEMENT On May 14, 2002, USDR Aerospace, Ltd. (Aerospace) entered into an agreement with the Company to assign certain of its Intellectual Property to the Company for consideration of $10, and a promise to pay a royalty of 3.5% on all of the Company's sales until Aerospace has received a total of $15 million and a royalty of 1% of all of the Company's sales thereafter until all patent rights of the Intellectual Property have expired. For the nine months ended December 31, 2003, the Company has incurred a total of $4,474 in royalties from this agreement.