VIASPACE Green Energy Inc (VGREF)

[_mmech]

China Gate and Mr. Chang each represents and covenants that at
least 100 hectares of arable land in Guangdong province in China
will be available for grass farming by IPA China within 12 months
after the First Closing Date. Any agreement regarding such land
use rights shall grant the land use rights to IPA China, but shall
be assignable to VGE at VGE's option. The term of such agreement,
including possible renewals, shall be at least 10 years.

Maybe I shouldn't assume, but IMO, anything produced by the 100 acres would be owned by IPA China/VGE- including seedlings. Notice how only 5 acres plots are tested. Somewhere I remember calculating that an acre would require about 4,000 seedlings- so around 20,000 for 5 acres.

if within the 10 years they hit paydirt, why wouldn't Quanzhou Keyi Husbandry Breeding and Planting Co. and China Gate renew? it's revenue for nothing