Chromium OS Based on Ubuntu?

At least the kernel appears to be:

[00:34][scollins@loki.lan kernel]$ pwd /Users/scollins/Downloads/GoogleOS/chromiumos.git/src/third_party/kernel [00:34][scollins@loki.lan kernel]$ cat README.chromium Ubuntu kernel source Checked in here since launchpad.net and archive.ubuntu.com are not guaranteed to keep around older versions. 2.6.30-10.12 from https://launchpad.net/ubuntu/karmic/+source/linux/2.6.30-10.12