1000Planets, Inc Board of Directors meeting

[jwsmith]

Last evening the board of directors of 1000Planets assembled via internet for its 3rd quarter, 2004 meeting. <br />The meeting was held in the dedicated 1000Planets chat room at 9 PM. Notice of the meeting was posted to all stock holders and many interested persons via internet one week prior to the meeting. <br /><br />Present via internet were: JWSmith-CEO, CBunch_CFO, MSchafer-Secretary <br />Visitors via internet were Todd Fries, Jordan P., Abdul M and Kevin Davis.<br /><br />CBunch reported a bank balance of $1505.67 with no payments or bills outstanding.<br /><br />There was only one item brought before the board for consideration. A proposal to develop a plasma engine.<br />Because of the propriety nature of some of the discussion no transcript of the meeting will be released. <br />The Board voted 3 - 0 to spend up to $5,000.00 in 2005 for initial development and testing. <br />This will compliment development on a habitat (space station) system and a maglaunch system. <br /><br /> John Wayne Smith, CEO 1000Planets, Inc. <br /><br />Some personal comments: <br />One thing that I continually see in all of the space advocacy community is that way too many people want to work on deep space craft when for all practical purposes we are not even able to get off the face of this planet. <br />1000Planets is dedicated to Near, but Off Earth Living. Until we have numerous O'Neil type colonies as well as colonies on the Moon (Luna) and Mars, 1000Planets cannot rationally entertain any proposals that cannot meet that goal. <br /><br />The other item that makes me wonder is that just because someone comes up with an idea they think that they own it and should have patentable rights. This is not the case. Even when someone does work on the development of any item it is the entity who pays for the research that holds patent rights unless pervious arrangements have been made. <br />This applies both to volunteer and paid employees. <div class="Discussion_UserSignature"> <p><font size="2">John Wayne Smith, CEO</font></p><p><font size="2">1000 Planets, Inc</font></p><p><font size="2">Http://www.1000Planets.com</font></p><p><font size="2">203 W.Magnolia St.</font></p><p><font size="2">Leesbutg Florida 34748</font></p><p><font size="2">Ph: 352 787 5550</font></p><p><font size="2">email jwsmith42000@aol.com</font></p> </div>