SOURCE: Quasar Aerospace Industries, Inc.

September 06, 2011 16:15 ET

Quasar Takes Corporate Action

JACKSONVILLE, FL--(Marketwire - Sep 6, 2011) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Quasar would like to notify the public of recent actions regarding one of its former CEOs, Mr. Dean Bradley. Mr. Bradley has filed with the Florida Secretary of State that he is now the current CEO and President of the Corporation and that all other officers and directors were removed except Mr. James Ray. This is a fraudulent filing as Mr. Bradley has no authority to submit this filing and doing such may constitute a felony.

As of today the Corporation has corrected this false filing and advised Computershare, Marketwire, OTC Markets, our attorneys, vendors and creditors that Mr. Bradley may be attempting to act on behalf of Quasar without the authority to do so. We also caution anyone who has been, or may be solicited to purchase notes by Mr. Bradley against Quasar to exercise due caution as the Corporation is reviewing the validity of such notes. Lastly, the Corporation will be seeking legal remedies including the filing any charges against Mr. Bradley that are deemed appropriate.

Quasar is focused on executing its business plan as it relates to its flight school, Atlantic Aviation, and Corporate Air Repair. We plan to further update the public shortly of our announced acquisition.

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

  • Contact:
    Quasar Aerospace Industries, Inc.
    (904) 378-3259