First American Scientific Corp. (fka FASC)

[Jagman]

Maybe you should be more worried about company agendas than mine...

NOTE 4 - STOCK OPTIONS

The Company's board of directors approved the First American Scientific Corp. 2005 Non-qualified Stock Option Plan. This plan allows the Company to distribute up to 10,000,000 shares of common stock options at a maximum share price of $0.05 to persons employed or associated with the Company. This plan was not approved by the Company's security holders.

During the three months ended September, the Company granted 2,765,000 options of which 2,765,000 were immediately exercised.

NOTE 5 - RELATED PARTIES

At September 30, 2005, the Company owed three of its senior executives $ 150,000 for accrued salary and $163,353 for loans made to the Company.

(That's 7,833,824 shares at 4 cents just to pay accrued salaries and loans made to the company.)