Viaspace, Inc. (VSPC)

[hedge_fun]

Since May 14, 2012, the Board and Management of VIASPACE (VSPC) have been working with Chang on a remedy that is acceptable to Chang. Dr. Kevin Schewe, VSPC board member who now holds 98 million VSPC common shares, has been leading the negotiations with Chang on behalf of the Board. Schewe commented, "We are making progress in these negotiations for an equitable solution to the company's inability to meet the note payment. Mr. Chang and Chang related parties own more than 400 million shares of VSPC common stock. Our desire is to develop a solution which will be acceptable to Chang and that will also benefit the VSPC shareholders." Additionally, CEO Carl Kukkonen stated, "As a cofounder of VIASPACE in 1998, I am working hard to secure a favorable outcome that will benefit all VIASPACE shareholders, of which I am one. We cannot yet announce the specifics of any proposal we are working on, but rest assured that I will do my best to find a positive outcome for VSPC shareholders and Mr. Chang."

The solution is simple Karl, and there are three:

Solution 1

Collect from Chang what he owes VSPC!!!

The following table represents a summary of Related Party Receivables at March 31, 2012

Due from JJ International $1,234,000

http://www.sec.gov/Archives/edgar/data/1270200/000101968712001760/vspc_10q-033112.htm

Solution 2

Chang can forgive the note in whole or in part since VSPC overpaid originally by $12MM (Goodwill) and now still owe more than it's worth by at least $5MM.

Solution 3

ADMIT GKG IS A STUPID IDEA and cut your losses!!! Dr. Schewe can take his company public through a RM after a RS!



I don't know which is worth less, the sub license with NO TERMS, or the present BOD since Chang resigned, including Dr. Schewe.

Funny, we know exactly the TERMS of the NOTE, but the sub license has NO TERMS except they can market the grass, and IPA has the market cornered in North America and Guangdong where the demand is HUGE! (sarcasm)

Dr. Schewe, doesn't your investor buddies want to buy Chang out? It seems that would be the simplest way to invest in GKG. Or if they really believe wouldn't they just go directly to the Inventor or China Gate?