>I have created an ActiveX control I am using in a form. That control contains several properties I have defined. From my form, in the property sheet for that control, I see all the properties defined. I can also enter some values for them. I can save the form as well. As sonn as I run the form and come back to the design mode, all my property values are gone.
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>Any idea?

Yes. You will need to use the PropertyBag in order to save values for the custom properties. There is a ReadProperties, InitProperties, and WriteProperties events. Also, in your Property Let routine for setting the property, make sure that you issue a PropertyChanged statement.

If you are not sure what all of this is, then I suggest an excellent book on the subject of creating ActiveX Components. It is called:
Developing ActiveX Components with Visual Basic 5.0 by Daniel Appleman.