JACKSONVILLE, FL / ACCESSWIRE / August 7, 2014 / Quasar Aerospace Industries, Inc. (OTC Pink: QASP) (PINKSHEETS: QASP) ("Quasar" or "the Company")
Quasar Aerospace Industries, Inc. is pleased to provide the following update to its shareholders and investment community. Quasar is in the process of filing for a name change and plans to change its ticker symbol to coincide with its launch into the legal and medical marijuana industry. This change comes at a defining moment within our Company's history as Quasar looks to become a nationwide leader this industry.
Quasar's management was unfortunately faced with a decision to either conduct a reverse stock split or increase its authorized shares. The Company has elected not to do a reverse stock split but rather proceeded with increasing the authorized shares. Quasar has been faced with having to comply with note conversion on aged debt over a year old being submitted for share issuances. The Company is obligated to honor those valid notes and in doing so, it has caused Quasar to have to increase its authorized shares as a necessity. The Company has significantly decreased its debt liabilities with the processing of these note conversions. All share issuances are posted on OTC Markets in detail for the public to view and will continue to do so. Quasar has not participated in any private placements under Reg D since March of 2014.
Quasar is meeting with the Florida Cannabis Coalition to form a relationship to further our developments in Florida. It looks as though our expansion plan is on track and we should be hitting the Florida marketplace in the very near future. Further details related to this new development will be announced as events unfold.
Hydro-Grow Supply, Inc. is moving forward with its name change and this name will be released with the introduction of our new e-commerce website.
Additionally, Quasar will be providing additional details regarding its exclusive products lines and has been presented with an opportunity regarding the development of a new LED grow lighting system that is being created to hit the marketplace. This is exciting news and we look forward to this launch.
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/sites/default/files/certified-school-list-08-06-2014.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.
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.