Quasar Provides Corporate Update
July 18 2012 - 9:05AM
Marketwired
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) is pleased to
provide this update to its shareholders and the investment
community.
The Corporation would like to update its progress on their
application with Homeland Security for the SEVIS program which will
allow Quasar to sponsor non-US citizens to receive training in its
related programs.
Mr. Bill Cirmo, our nominal Chief Operating Officer, is in
Colorado Springs this week, for our initial interview with Homeland
Security for our application and will be back in Jacksonville, FL
for an interview regarding our Jacksonville, FL location next week.
While the Corporation anticipated the process would entailed a
minimum of six months we now anticipate a quicker review.
As previously announced the SEVIS application approval will
allow Quasar to sponsor non-US students for flight training
programs and has been part of the business opportunity the
Corporation has been set up to pursue. Quasar anticipates, upon
approval, a minimum of five new students per month or sixty
students in year one in this program. At roughly fifty five
thousand dollars ($55,000.00) with sizable margins this will mark a
drastic change for the Corporation. Upon approval, and with a
number of applicants in the queue, Quasar believes it will see
revenues exceeding three million dollars ($3,000,000.00) within
twelve months after acceptance.
In addition, A-Cent has completed the staff training and the
site inspection required to become certified as a Computer Assisted
Testing Service (CATS) test facility. Bill Cirmo, Director of
Operations, Donnell Vigil, Director of Administration and Joshua
Haines, FAA Advanced Ground Instructor, all completed the day long
training course conducted on site by the CATS Vice President who
was so impressed with the layout and decor of the newly constructed
testing center, that he is recommending the site for inclusion in
the Non-Aviation Test program. This will allow the testing center
to administer tests to a myriad of other industries thereby
increasing its profit potential.
Further, Quasar is consulting with its attorneys and the board
to amend the preferred shares as previously announced. The
Corporation believes these changes will ensure and enable current
and potential investors to be able to evaluate their investment in
the Corporation more accurately than in the past. Once amended and
filed we will update our shareholders and the investment
community.
Lastly, and in response to many inquiries by our shareholders,
to current legal action we offer this update. The Corporation will
be in court on March 18th, on a number of issues. Primarily we are
seeking a summary judgment dismissal of actions brought by the
Defendant Mr. Digeonorva on the two counts he has against the
Corporation. Further to that, Quasar will be seeking a dismissal of
the restrictions set upon it by the Court. This will allow the
Corporation to pursue the opportunities available to it and grow as
fit.
Quasar and its subsidiaries are involved in aviation and
aviation-related businesses. We are the only certified Cessna Pilot
Center (http://www.cessna.com/learn-to-fly.html) in Jacksonville,
FL. Through our subsidiaries we are an FAA Part 141 flight school
(www.faa.gov). We offer flight training and accept VA benefits
under the GI bill (http://www.gibill.va.gov/). Our flight students
also benefit from our onsite RedBird Full Motion Flight Simulator
FMX1000 (http://www.redbirdflightsimulations.com).
Check us out on our web site (www.quasaraero.com) and Facebook
at:
http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747
or look to schedule a student pilot experience flight through
Groupon (www.groupon.com) or Living Social
(www.livingsocial.com).
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements as a result of
various factors, and other risks. You should consider these factors
in evaluating the forward-looking statements included herein, and
not place undue reliance on such statements. The forward-looking
statements in this release are made as of the date hereof and
Quasar Aerospace Industries, Inc. under take no obligation to
update such statements.
Contact Quasar Aerospace Industries, Inc. Telephone: (904)
207-6503 Email: ir@quasaraerospaceindustries.com Website:
www.quasaraero.com Facebook:
http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747
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