Viaspace, Inc. (VSPC)

[tommy 9 fingers]

too funny...we called this...some said the goodwill impairment didn't effect things... no wonder he was paying it back in shares what a scam.

On April 14, 2010, Sung Hsien Chang owed IPA BVI $807,833 including interest for loans and advances. Mr. Chang repaid IPA BVI on that date by transferring 56,889,650 shares of the common stock of VIASPACE to IPA BVI. The amount was repaid at fair market value and represented a closing price of VIASPACE common stock of $0.0142 per share. This amount was determined to be impaired at December and impairment expense of $353,000 was recorded. The balance is $455,000 at March 31, 2012 and December 31, 2011 and is shown as an asset on the balance sheet of IPA BVI, but eliminated as a consolidation entry between IPA BVI and VIASPACE.