Quasar Aerospace Industries, Inc. Is Pleased to Offer This Update to Its Shareholders at This Time
May 16 2011 - 10:50AM
Marketwired
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)
Some exciting opportunities are being explored but will not be
discussed until they have been brought to reality. Atlantic
Aviation and Corporate Air Repair have been and continue to be the
back bone of QASP and we encourage all shareholders visit our
operations at Herlong Airport in Jacksonville, FL. The current
Quasar management is committed not only to bringing value to the
corporation, but to the recovery of shareholders prior investments
and the corrections of past managements actions.
Due to the legal issues surrounding the former CEO's and past
management, Quasar's primary focus is on cleaning up these matters.
Most recently we asked the court for permission to raise monies to
fund certain aspects of the company's ongoing operations and to
maintain certain assets. The court granted the motion and limited
the use of those funds for the company and not to pay any past
management. The company is currently scheduled to be in court on
May 26, in an emergency hearing for an immediate Cease and Decease
Order to stop Mr. DiGenova from representing himself as an Officer
of the Corporation, and to return all of the property and records
taken from the corporation. On January 27th, DiGenova was advised
that he was no longer an Officer of the company and he was no
longer authorized to act on behalf of the corporation in any
capacity including, but not limited to, negotiations with other
parties, and the issuance of press releases pertaining to corporate
activity. Shareholders are advised to utilize extreme caution in
making stock purchases or sale decisions based on non-factual press
releases made by Mr. DiGenova on behalf of QASP or announcements
made on his unauthorized website. We will continue to work through
the legal system to clear up this issue and all regulatory bodies
to ensure Quasar's shareholders and future shareholders confidence
in their company. Furthermore, the company will pursue any damages
to Quasar these matters have created and exposed.
The company intends to update its current information on OTC
Markets as soon as feasible and when the company has information it
can credibly rely on. Quasar will also be providing information on
the company at its website: www.quasaraerospaceindustries.com.
Quasar has an ongoing business and plans going further we will
discuss in future updates. We understand the frustration, confusion
and anger these issues have caused our shareholders and are working
to clear them up for the maximum benefit of the company.
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. (904) 378-3259
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