As my wife and I sat down to try to figure out how to complete the college financing for our three remaining kids, it became pretty clear that I had really put too much faith in others` dreams. I have become more careful, and maybe overly cautious.

My point is this.... As Colesully`s post suggests, this isn`t a real clear-cut partnership between two companies.

To me, it appears that X-Act is an international marketing company. To me, it appears that the YBG product is really a joint venture between X-Act and Progressive BioActives, Inc. (PBl), a privately held company, in the forming of Bio-Agra, LLC. There is no direct connection between Nanopierce and BioActives.

As stated on the Bio-Agra website regarding X-Act:

``Do you have a product or service that you would like to sell worldwide but you do not have a global sales force? If so, then you should join X-Act Resources and see how we can help you expand your business in the global marketplace. ``

``We will combine our worldwide sales force and Internet capabilities to accelerate your sales worldwide. Become our partner, use our services and pay nothing up front.``

``Gain the best results in the shortest time by having a commission-based, global sales force that specializes in only one product category and one brand. A local representative in each country will be dedicated to you, acting as a distributor and import/export agent of your products. Couple this with the exposure you will get from being part of our online advertising and marketing campaigns, delivered to a captive audience in up to 11 languages.``

To me, the wording of this information suggests that X-Act is a marketing company, not a science company. They apparently have an agreement with Progressive BioActives, which collectively will manufacture and market YBG.

But how does Nanopierce fit into this equation? Could it be that X-Act made an agreement with BioActives to provide the building and the some (or all) of the production equipment? Did X-Act seek out an outside partner who would be willing to provide capital for the purpose of purchasing that equipment? And if there was an agreement between X-Act and BioActives, why didn`t X-Act just put up the money to fund their side of any commitment to BioActives?

To cut to the chase, what isn`t clear is how Nanopierce will be rewarded if YBG is a success. There are too many unknowns with this deal to make it attractive to me. X-Act appears to be an international marketing company. Period.

To me this venture is even more speculative than the original Nanopierce investment. There are too many unknowns... and the unknowns about all of the new partners is what concerns me the most.

I still have a fair number of shares in Nanopierce. Nothing would make me happier than to have the company succeed. However, there is absolutely nothing in what has been discussed to date that would justify any further investment by me in Nanopierce. When a profit is recorded by Nanopierce as result of this venture, then I will reconsider.

After all of these years, and the loss of a great deal of money, all I can caution is..... Be Careful.

All my personal opinion.

Jeff