Quasar Announces Major Share Reduction
May 14 2012 - 8:22AM
Marketwired
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)
Quasar Aerospace Industries, Inc. is pleased to announce that
after a meeting of the majority of shareholders and the Board of
Directors, the Corporation has reduced the total number of shares
authorized to four hundred seventy five million (475,000,000).
While many issues remain unresolved, the Corporation felt that
the share reduction was prudent at the time. As we gain clarity on
those issues while focusing on our core business, we will look to
align our share structure and capitalization more appropriately;
including the conversion terms of the preferred shares.
Lastly, the Corporation is reminding of our announced conference
call for shareholders and the investment community on Wednesday May
16, 2012, at 2:30 p.m. EDT. For both U.S. and international callers
to participate, dial +1 (712) 432-0900, then enter the participant
access code, 497592#, when prompted. Participants are encouraged to
access the call at least five minutes before it is to begin. A
playback of the call will be available later at +1 (712)
432-0990.
Please submit any and all questions to
ir@quasaraerospaceindustries.com so that we may address as many
questions as possible during the conference call.
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 on site Red Bird Simulator
(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 an introductory flight through Groupon
(www.groupon.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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