Jacksonville, FL / ACCESSWIRE / July 17, 2014 / Quasar Aerospace Industries, Inc. (OTC Pink: QASP) ("Quasar" or "the Company") is thrilled to announce that it closed on the acquisition of Hydro-Grow Supply, Inc. on July 16, 2014 through its subsidiary, Green Energy Investments, Inc. At closing, Hydro-Grow's final inventory at cost was valued at One Hundred, Sixty-Nine Thousand, Three Hundred, and Forty-Eight Dollars ($169,348) with an approximate retail exit value of Three Hundred, Twenty-Five Thousand, Seven Hundred, and Seventy-Eight Dollars ($325,778). The assets of Hydro-Grow totaled approximately One Hundred and Ninety-Two Thousand, Seven Hundred, and Ninety-Seven Dollars ($192,797). Hydro-Grow currently services dispensaries, growers and the public and has a loyal customer base. Hydro-Grow's new staff is driven to increase revenues and has been in contact with additional dispensaries and growers to obtain their contracts.
Quasar is proud to be a part of the growing billion dollar hydroponic retail market. Hydroponics is a market that is continually growing and will be expanding throughout the country and Quasar intends to expand with the market nationwide. This is a milestone for Quasar and establishes the determination and dedication that Quasar's management has to succeed in the legal and medical marijuana industry. This is the first step of Quasar's plan and only the beginning of strides being made. News is hitting Florida about Quasar and Florida Times Union reached out to Quasar's CEO, Donnell J. Vigil for an interview which can be accessed at http://members.jacksonville.com/news/metro/2014-07-08/story/working-first-coast-quasar-aeronautics-landing-marijuana-support.
The store has a point of sale security system implemented which will allow Quasar to remotely view and control the store front. All products, equipment and supplies are being tracked by its respective UPC and provide a convenient checkout method. Quasar has begun its revamping of the store front to maximize the stores efficiency and optimize its appearance. In addition, we have increased Hydro-Grow's days of operation and the store will now be open seven (7) days a week. We want to ensure that Hydro-Grow is open and available to the dispensaries, growers and the public every day. We are increasing and expanding the services being provided by the grow store to include installation and repairs.
Quasar has been in discussions with grow supply distributors and is determining the best loyalty program for our initial and subsequent grow stores. This type of partnership with a grow supply distributor will provide great benefits to the grow store, including, but not limited to, industry support, training, store front displays and additional discounts on supplies, equipment and products.
We are actively moving forward with our plans for creating a national brand and getting our new website up and rolling.
Quasar's CEO, Donnell J. Vigil is still in Colorado and will be returning to Florida to finalize the selection of an auditor to proceed with uplisting. Our counsel is prepared to file a Form 10, once the audit it completed.
Please feel free to contact Quasar by telephone or email at [email protected] for information or investment opportunities. Quasar will continue to update our shareholders and the investment community as progress and details are ready to be released.
Quasar and its subsidiaries are involved in aviation and aviation related businesses. We are SEVIS/SEVP certified to provide training to foreign students. 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), Computer Assisted Testing Service (CATS) (http://www.catstest.com) and a Comira testing facility (http://www.comiratesting.com). We offer flight training and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Atlantic Aviation, Inc. is a recipient of an AOPA Excellence Award for 2012 and recognized as one of the top 50 flight school in the country. (http://flighttraining.aopa.org/awardwinners/2012winners.html).
SEVIS (http://studyinthestates.dhs.gov/assets/images/content/Certified_School_List_3-5-14.pdf) (http://www.ice.gov/sevis/)
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.
Quasar Aerospace Industries, Inc.
Telephone: (904) 207-6503
Email: [email protected]
SOURCE: Quasar Aerospace Industries, Inc.