USAE US Aerospace Inc (CE)

OTC Stock Review is issuing an update on U.S. Aerospace (OTCBB:USAE). On May 4, 2010, OTC Stock Review issued a press release announcing a published Report on U.S. Aerospace.

Today, U.S. Aerospace filed an 8-K with the U.S. Securities and Exchange Commission which reads as follows:

"On July 1, 2010, we entered into a Strategic Cooperation Agreement with Antonov Company, a state-owned Ukraine company, providing for:

• Participation in the KC-X Tanker Modernization Program for the U.S. Air Force
• Bidding for projects to the U.S. Department of Defense, U.S. Air Force, and licensed U.S. defense contractors
• Sale of Antonov aircraft, products and services in the United States

Under the terms of the agreement, Antonov will be responsible for design, construction and manufacture of aircraft. We will be responsible for coordinating the bidding process, negotiating and contracting with customers, and coordinating with defense sub-contractors for specialized systems.

The agreement provides that it will be interpreted in full compliance with all applicable laws, including ITAR, and would be subject to termination if no contracts were awarded on any of the projects within five years. We also entered into a Confidentiality Agreement."

The story has been picked up by Defense News and an informative article is available at http://www.defensenews.com/story.php?i=4695743.

The 8-K is available at http://www.sec.gov/Archives/edgar/data/318716/000114420410036237/v189790_8k.htm.

The complete report by OTC Stock Review is available at http://www.otcstockreview.com/files/USAE/USAE_Review.pdf.

Additionally, more information on U.S. Aerospace, Inc. is available at http://www.usaerospace.com.

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