Exousia Advanced Materials, Inc (fka EXOU)

[RichieRich]

LITGATION 5 - I am starting to loose count!

PART II – OTHER INFORMATION

Item 1 Legal Proceeding.

On or about January 28, 2010, suit was filed by Third Cross Copperstone, Inc. against Exousia in the 268 th Judicial District Court of Fort Bend County, Richmond, Texas, bearing Cause No. 10-DCV-178160, to collect unpaid rent in the amount of $103,130.00 in connection with the lease by Exousia of office space at 1200 Soldiers Field Drive, Suite 200, Sugar Land, TX 77479. The Company filed its Answer in the case on March 1, 2010, and is in the process of responding to discovery requests submitted by the Plaintiff in the suit. The Company disputes the claims, but continues to investigate the claims made in the suit. Neither the likely outcome of the suit nor the amount of loss, if any, can be reasonably estimated.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7427057