UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       Pursuant to Section 13 OR 15(d) of
                       The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): January 11, 2006


                            US GLOBAL NANOSPACE, INC.
             (Exact name of registrant as specified in its charter)


          Delaware                    000 - 23339                 13-3720542
(State or other jurisdiction          (Commission               (IRS Employer
       of incorporation)              File Number)           Identification No.)


        2533 North Carson Street, Suite 5107                   89706
                Carson City, Nevada
      (Address of principal executive offices)               (Zip Code)

        Registrant's telephone number, including area code (775) 841-3246

--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


<PAGE>

      This Form 8-K and other  reports filed by US Global  Nanospace,  Inc. (the
"Registrant")  from time to time with the  Securities  and  Exchange  Commission
(collectively the "Filings")  contain forward looking statements and information
that are based upon  beliefs of, and  information  currently  available  to, the
Registrant's  management  as  well  as  estimates  and  assumptions  made by the
Registrant's  management.  When  used in the  Filings  the  words  "anticipate",
"believe",  "estimate",  "expect", "future", "intend", "plan" or the negative if
these terms and similar  expressions  as they  relate to the  Registrant  or the
Registrant's  management  identify forward looking  statements.  Such statements
reflect the current view of the Registrant with respect to future events and are
subject to risks,  uncertainties,  assumptions and other factors relating to the
Registrant's  industry,  operations and results of operations and any businesses
that may be  acquired  by the  Registrant.  Should one or more of these risks or
uncertainties materialize, or should the underlying assumptions prove incorrect,
actual  results  may  differ  significantly  from those  anticipated,  believed,
estimated, expected, intended or planned.

Item 8.01 Other Events.

      On January 11, 2006,  the Registrant  learned that Everest  International,
Inc. ("Everest"),  the owner of the Registrant's business facility in Arlington,
Texas,  filed a suit  against  the  Registrant  for  breach of the  Gross  Lease
Agreement dated April 28, 2003 (the "Lease") between West Harris Property,  Inc.
and the  Registrant.  The suit  seeks  damages  for  unpaid  rent and late  fees
totaling $52,900.  Additionally, the suit seeks payment of the rent specified in
the Lease for the  remainder  of the  Lease  term,  reduced  to  present  worth,
beginning  from  January  1, 2005  through  the end of the lease term on May 31,
2006, plus interest,  attorneys' fees and costs.  The monthly rent due under the
lease is $11,000.  Since  Everest filed the suit,  Everest has received  $12,500
against the balance owed.  Everest is also in possession of an $11,000  security
deposit paid by the Registrant  upon  execution of the Lease,  which Everest may
apply to any charges in default. The suit also names Julie Seaman, a director of
the  Registrant,  as a defendant in her capacity as a personal  guarantor of the
Lease.  The  Registrant  has  contacted  Everest  and  is  seeking  an  amicable
resolution of the matter.


                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                          US GLOBAL NANOSPACE, INC.
                                                 (Registrant)


Date: January 18, 2005                    /s/ Carl Gruenler
                                          --------------------------------------
                                          Carl Gruenler,
                                          Chief Executive Officer
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       Pursuant to Section 13 OR 15(d) of
                       The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): January 11, 2006

                            US GLOBAL NANOSPACE, INC.
             (Exact name of registrant as specified in its charter)

          Delaware                    000 - 23339                 13-3720542
(State or other jurisdiction          (Commission               (IRS Employer
       of incorporation)              File Number)           Identification No.)

        2533 North Carson Street, Suite 5107                   89706
                Carson City, Nevada
      (Address of principal executive offices)               (Zip Code)

        Registrant's telephone number, including area code (775) 841-3246

--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
This Form 8-K and other  reports filed by US Global  Nanospace,  Inc. (the
"Registrant")  from time to time with the  Securities  and  Exchange  Commission
(collectively the "Filings")  contain forward looking statements and information
that are based upon  beliefs of, and  information  currently  available  to, the
Registrant's  management  as  well  as  estimates  and  assumptions  made by the
Registrant's  management.  When  used in the  Filings  the  words  "anticipate",
"believe",  "estimate",  "expect", "future", "intend", "plan" or the negative if
these terms and similar  expressions  as they  relate to the  Registrant  or the
Registrant's  management  identify forward looking  statements.  Such statements
reflect the current view of the Registrant with respect to future events and are
subject to risks,  uncertainties,  assumptions and other factors relating to the
Registrant's  industry,  operations and results of operations and any businesses
that may be  acquired  by the  Registrant.  Should one or more of these risks or
uncertainties materialize, or should the underlying assumptions prove incorrect,
actual  results  may  differ  significantly  from those  anticipated,  believed,
estimated, expected, intended or planned.

Item 8.01 Other Events.

      On January 11, 2006,  the Registrant  learned that Everest  International,
Inc. ("Everest"),  the owner of the Registrant's business facility in Arlington,
Texas,  filed a suit  against  the  Registrant  for  breach of the  Gross  Lease
Agreement dated April 28, 2003 (the "Lease") between West Harris Property,  Inc.
and the  Registrant.  The suit  seeks  damages  for  unpaid  rent and late  fees
totaling $52,900.  Additionally, the suit seeks payment of the rent specified in
the Lease for the  remainder  of the  Lease  term,  reduced  to  present  worth,
beginning  from  January  1, 2005  through  the end of the lease term on May 31,
2006, plus interest,  attorneys' fees and costs.  The monthly rent due under the
lease is $11,000.  Since  Everest filed the suit,  Everest has received  $12,500
against the balance owed.  Everest is also in possession of an $11,000  security
deposit paid by the Registrant  upon  execution of the Lease,  which Everest may
apply to any charges in default. The suit also names Julie Seaman, a director of
the  Registrant,  as a defendant in her capacity as a personal  guarantor of the
Lease.  The  Registrant  has  contacted  Everest  and  is  seeking  an  amicable
resolution of the matter.

                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                          US GLOBAL NANOSPACE, INC.
                                                 (Registrant)

Date: January 18, 2005                    /s/ Carl Gruenler
                                          --------------------------------------
                                          Carl Gruenler,
                                          Chief Executive Officer