Quasar Announces Major Share Reduction - Business - Press Releases
& & JACKSONVILLE, FL — 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://blogshots.org/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://blogshots.org/www.gibill.va.gov/). Our flight students also benefit from our on site Red Bird Simulator (http://blogshots.org/www.redbirdflightsimulations.com/).
Check us out on our web site (www.quasaraero.com) and Facebook at: http://blogshots.org/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.
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