Business Development.

For a discussion of the business development of Galtech Semiconductor Materials Corporation, a Utah corporation ("Galtech"), from inception through December 31, 2003, see our Annual Report on Form 10-KSB for the calendar year ended December 31, 2001, which was filed with the Securities and Exchange Commission on May 6, 2002, and which is incorporated herein by reference. See the Exhibit Index, Part III, Item 13 of this Report.