SOURCE: Quasar Aerospace Industries, Inc.

November 02, 2009 11:16 ET

Quasar Aerospace Industries, Inc. CEO Dean Completes Personal Purchases and Resumes Company's Buy Back Program of Quasar Aerospace Stock

JACKSONVILLE, FL--(Marketwire - November 2, 2009) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Dean Bradley, the CEO of Quasar Aerospace Industries, Inc., has notified the company that he has completed his purchase of $50,000 of Quasar Aerospace Industries shares. This purchase was in compliance with SEC Rule 10b-18 and the shares become restricted under Rule 144.

The Company will now resume its Buy Back Program, and the Board of Directors has authorized the officers to repurchase up to 20% of the total outstanding shares. It has approved the repurchase of up to $250,000 worth of stock for the first two weeks of November. These shares will be retired to Treasury Stock and reduce the number of outstanding shares 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 Information