Viaspace, Inc. (VSPC)

[tommy 9 fingers]

Bright, you sure are optimistic I'll give you that.

The only thing I find positive right now is that for the last 6 month every two months like clockwork Insiders have sold shares big time and we are now about 30 days overdue for some shares to be sold by insiders.

I wish I could say that I think this is a good sign but I fear it might be too soon to say that. If you notice below they didn’t sell shares in the beginning of 2010 until February 8th thru 24th. I think this may have to do with tax season, just like a IRA these guys can figure out how much until a certain date this year for last years income made through selling shares and how it will affect their tax bracket. So I'll wait until the end of the month to see if they have changed their ways…LOL .. If they continue to sell shares that is a bad sign.

Please note below for 2010 that Carl made $281 K last year, I thought he was only suppose to paid $240K a year for being CEO of VSPC???? Another $40K bonus????

So this is the chart that shows registered insider shares sold right>>>>????


11/2/10 Kukkonen Carl Allan
Chief Executive Officer Planned Sale 7,197,240 -- – -- -- $86.4 K

10/29/10 Kukkonen Carl Allan
Officer Planned Sale 7,197,240 -- – -- -- $86.4 K

9/10/10 Chang Sung Hsien
Officer of Subsidiary Com... Planned Sale 9,544,970 -- – -- -- $128.9 K

9/3/10 Kukkonen Carl Allan
Officer Planned Sale 3,830,560 -- – -- -- $53.2 K

7/1/10 Muzi Stephen J
Chief Financial Officer Planned Sale 1,492,540 -- – -- -- $26.1 K

6/23/10 Abdallat Amjad Sale...
Former Planned Sale 4,347,070 -- – -- -- $82.6 K

3/4/10 Muzi Stephen J
Chief Financial Officer Planned Sale 1,000,000 -- – -- -- $14.5 K

2/24/10 Abdallat Amjad Sale...
Director Planned Sale 5,274,330 -- – -- -- $81.8 K

Kukkonen Carl Allan
Chief Executive Officer Planned Sale 4,580,060 -- – -- -- $55.0 K

2/10/10 Vandersande Jan W
Divisional Officer Planned Sale 160,000 -- – -- -- $2.7 K

2/8/10 Muzi Stephen J
Chief Financial Officer Planned

But what about this from the filing below, Unregistered shares???? Note the above shows Dr.K was paid $281K and below he was paid $151K for a total of $432K up to September 28, 2010 so far according to these filings?????????? Anyone know why?

Is this crooked, a bonus, or what???? I don’t know…. It may just be that Dr. K’s $240K salary + bonuses for being CEO of VSPC is paid out of VSPC shares that are registered as insider shares and his salary + bonuses for being CEO of VGE of $250K is being paid with unregistered shares of VSPC as well.

Kind of funny don’t you think that so far for 2010 we see no record of these guys being paid for the duties as the BOD of VGE out of VGREF shares. It appears to me that their salary for both jobs are all being paid out of VSPC shares. Like they really do not want to dilute VGREF and only VSPC???

So someone please … please explain to me why we should not worry about why they are only diluting VSPC shares and not VGREF shares to pay salaries and who this actually benefits. Especially if VSPC can’t make the payment in May and defaults with Chang???? Why isn’t their duties for VGREF paid in VGREF shares???

Why was the S-1 written in such a way that if VSPC fails to pay Chang and he takes it all does Carl, Muzi, and Jan all get to continue working at VGREF or VGE???? If VSPC goes under????


( notice the date and numbers of shares issued below do not match what was issued above)

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS (locate page 30 http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7560775-996-156966&type=sect&dcn=0001019687-10-004112

On July 31, 2010, August 31, 2010 and September 28, 2010, the Company issued Dr. Kukkonen, CEO of the Company, 11,150,244 unregistered shares of the Company’s common stock for salary valued at $151,000. On April 1, 2010, April 30, 2010, May 24, 2010 and June 30, 2010, the Company issued Mr. Stephen Muzi, CFO of the Company, 6,639,595 unregistered shares of the Company’s common stock for salary valued at $90,000.

The shares were issued in reliance upon the exemption from registration under Section 4(2) of the Securities Act of 1933, as amended. We made a determination that these parties were sophisticated investors with enough knowledge and experience in business to evaluate the risks and merits of accepting our shares as payment for their services and the Company believes that each party was given or had access to detailed financial and other information with respect to the Company. These vendors acquired the shares for investment purposes without view to distribution, and there was no general advertising or general solicitation in connection with the issuance of the shares. Further, restrictive transfer legends were placed on all certificates issued to these parties, and no underwriting or selling commissions were paid in connection with these share issuances.