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

To: scion who wrote (89)	2/24/2004 10:43:29 AM
From: scion	Read Replies (2) \| Respond to of 132

We had an operating loss of $2,712,818 for the quarter ended December 31, 2003 as compared to an operating loss of $1,783,277 for the quarter ended December 31, 2002 and a net loss of $2,702,327 for the quarter ended December 31, 2003 as compared to a net loss of $1,253,410 for the quarter ended December 31, 2002. The increase in operating and net loss is attributable to the on-going costs to develop and bring our products to market. Also attributed to this increase is the amount of deferred compensation and services related to the consulting agreements described above. Interest expense for the quarter ended December 31, 2003 totaled $228,694 as compared to interest expense totaling $92,697 for the quarter ended December 31, 2002. Interest expense increased this quarter because of fees and increases in borrowing. During the quarter ended December 31, 2003, fees of $239,185, included in debt restructure, were forgiven.