Audio-to-text Interview with QASP President/CEO Donnell Vigil 4/7/2014 [It took me three hours to transcribe this and to make sure everything was correct, so I hope this is useful to someone on this board.]
Jacobsen: This is Ty Jacobsen once again with Jacobsen Enterprises. I've got the president and CEO of Quasar Aerospace on the line here. It's a little bit late but well worth the wait, Donnell Vigil [pronounced vee-hill] is with us. How are you tonight, Donnell?
Vigil: I'm doing great! I'm extremely excited; I'm still in Colorado and excited to have this opportunity to reach out to shareholders and give them some news about the great things that have been happening out here and what it's going to mean to them and the value of their shares in Quasar.
Jacobsen: Excellent, Excellent. Well I'm glad that we're able to get together, it's probably a little bit different hour than what both of us are really used to[Jacobsen is in Idaho] but as I think we both learned over the weekend, because we were both in Colorado, your hours are very late and very early.
Vigil: Absolutely.
Jacobsen: I was ready to get home last night and go to sleep and I'm sure you're probably anxious to get home as well; but tell us about-I just want to point out to people who are listening, we did get to meet on Saturday at the Hemp Expo which was awesome, you've been working on stuff and having meetings and things since then so tell us about what's going on. Everybody wants to know what you've got figured out there.
Vigil: Actually, I'll tell you everything I can. I do intend on putting out a press release this week, so I'll give additional details in that. But what I can tell you is I enjoyed meeting you as well and spending some time speaking with you and I appreciate you taking time to do this interview. I have made extreme strides, I'm extremely excited about what Quasar has in store for us. I have an opportunity for Quasar in not only the medical marijuana industry but also the recreational.
Jacobsen: Oh wow.
Vigil: We're looking at a dispensary as well as a warehouse that grows product and we have reached final terms. So I couldn't be happier. Right now, it's just a matter of sitting down with the attorneys and making sure that we're in compliance with all the laws and regulations. And we are gonna sign on the dotted line and move forward and bring this into Quasar and have a great time watching our value increase.
Jacobsen: Okay, wow, that's incredible. So, I got a couple things here, you just rattled off a lot that's very meaningful, so not only medicinal-medical but also recreational you said?
Vigil: That is correct.
Jacobsen: And a warehouse?
Vigil: That is correct as well.
Jacobsen: And I also want to clarify one other thing, I'm trying to write notes as we're going here, you said that you are in final terms, so you've got a deal locked down?
Vigil: Absolutely, we have actually reached final terms and it's now just a matter of making sure that we're in full compliance. We wanna make sure that everything that we do is going to be in accordance with the law, and once the attorneys approve everything that has been agreed to then we are going to finalize this deal.
Jacobsen: Oh wow, that is awesome news. I didn't realize it was going to be that big when we started the phone call, that's awesome. Can you tell me anything about the location or anything as far as the-it's a dispensary?
Vigil: Yeah. Well I can give you some information, most of the details will be released in a press release, but what I can tell you is it is in a prime location, it's off of Main Street in Colorado, downtown Denver, just east of the actual downtown. So it's a location that's non-stop traffic and it's hard to find parking at times, that's how busy it is in that area.
Jacobsen: Well I was just staying there over the weekend in the Sheraton downtown, I don't know if it's close to that area. You're from there so you know, but I stopped into a lot of different dispensaries in that area and it sounds like it's probably pretty close to there, just based on the description but that's awesome. So high traffic area, high volume, that's good news.
Vigil: It is, it is, I couldn't be more excited. I had anticipation, I had discussions going prior to coming back to my home state and we reached out, they weren't kidding when I was informed by my connections that there were viable opportunities for Quasar to enter into and sitting down with them and discussing it, touring the facilities, checking out everything, watching it actually function and being there was exciting, knowing that Quasar's going to be a part of it and I couldn't be happier.
Jacobsen: Well that's good. So, it was an opportunity maybe to go home, but you've probably been just continuously working and working towards this, but let me ask you a question. I gotta tell you, I find it a little unusual to see Quasar Aerospace, who operates out of Florida, and is in flight training, a part 141 school to go into the marijuana space, and that's one of the things that has vexed me a little bit and I know some other people who have had similar questions so what can you say to shore that and the things up and help people understand why it makes sense for Quasar to move into Colorado and more specifically to move into the marijuana space?
Vigil: Well, I was born and raised in Colorado, I know the state, I know the area, I know the culture, I know the people and as it is a model state for the marijuana industry, it's going to be a leader, and I think for Quasar to jump into that market right now would be an excellent time. So as it expands to additional states throughout the country, we will be a front-runner in that industry and be able to expand rapidly. I have the know how, the funding, and the connections and I believe through my leadership, I can bring this to fruition and actually make it extremely successful. I know it is a vast contrast to what we currently do in the aviation operation. I'm extremely proud of the accomplishments that we've made in the aviation industry and all the goals that we have set out to accomplish. We have obtained all those certifications and we continue to operate those locations, this will be an addition to what we are currently doing and one that I believe will bring extreme value.
Jacobsen: So I guess my gut reaction is this is just your turf, this is what you know maybe, and maybe you've been watching it from Florida or something and felt like, if I understood you correctly, you said you got some phone calls?
Vigil: Exactly, I've been receiving a lot of phone calls from people I know. Like I said, I grew up and was raised here in Colorado, I attended and obtained my undergrad degree here in downtown Denver, and pretty much those connections that I know in the business world that have entered the marijuana industry have been reaching out to me and seeking an opportunity to go public, so I finally took them serious, thought I would come down here and see what I could do to build something bigger for Quasar as an additional subsidiary, and an additional part of our current business plan.
Jacobsen: Okay, so it sounds like your friends then leaded you on to something and then you found an inherent opportunity to take advantage of and you got the financing for it and the know how, so why not? Okay, that makes sense, I appreciate that.
Vigil: Exactly!
Jacobsen: Okay, let's move on to a couple of questions here that shareholders have submitted. Let me ask you about- a month from now, how is the marijuana sector, or your participation in it, going to change the corporate business model?
Vigil: It's not going to change the corporate business model as it currently is; it's only going to add to it. Our corporate business model will still maintain. We still have our part 141 flight school, we still have our 141 flight school, we still have our SEVIS approval to bring in foreign students to train in them to become commercial pilots through A-Cent Aviation. We are opening up a new location in Pennsylvania currently, that should be finalized once the FAA does the final inspection, which should be in the next couple of weeks. And then we do have things set to move into South Florida, with our 141 flight school. We have foreign student recruiters in India, China, as well as South America, once the South Florida location is finalized. So this is just going to be an additional aspect of what Quasar can take part of. And, so it's not going to change the business model, it's just gonna expand the business model so that we can also take part of this industry and be a head-runner, forerunner of this so as it expands through the country, we're ready to roll and expand as well.
Jacobsen: Yeah, those that are first marketing are definitely the ones that are gonna benefit the most here and it's still very early off. I appreciate you answering that question; next question here is, if you're familiar with OTCMarkets.com, it has a stop sign on your ticker symbol there, so one question is, how do you explain it and what will you do to change the reporting to resolve this?
Vigil: Absolutely, I do wanna apologize for it being that way; I did file a Notice of Late Filing with OTC Markets to let them know that we would have our annual financials filed by April 15, they did put us with a stop sign but we are diligently working and we will have our financials posted by week's end, in addition to an attorney opinion letter as to those financials, so we she be Pink again by the end of this week.
Jacobsen: Oh, okay, so instead of the 15th then, you're thinking the end of the week?
Vigil: Well yes. Once I saw the stop sign, that's time to take action. I can't have that. We need to ensure that the shareholders remain confident in the corporation, and especially with the accomplishments we have made, and what we're getting ready to close on, so it's vital that we get back up-to-date, a.s.a.p. and that will be, like I said, by week's end.
Jacobsen: Okay, last question here. We only have a couple of minutes left. Is the transportation or the air portion of the product part of the vision overall? I don't know if there's anything you can answer to on that.
Vigil: Sure Ty. I mean, you were at the Hemp Expo as well and you heard the representative with the legislation speaking. Currently, it is illegal to do transportation of marijuana but if they ever change those laws and it ever becomes legal and the supply here in Colorado is low and California has it, or another state, we do have the means to do the transportation, but we have to just wait for it to become legal before we enter that area.
Jacobsen: Okay, we've got a few other questions but I think most of them have already been kind of covered. I think the most important one was the stop sign on the OTC Markets. Let me just look at some other notes that I have here and, you know obviously you've got the Quasar part of the business with the aerospace thing. You've told us here that you're in final terms with a medicinal or medical and recreational dispensary in a prime location and a warehouse? Does it end there or is there anything else in the works?
Vigil: Oh, most definitely. We're not gonna stop there. I have a lot of other opportunities that have been presented to us. We are going to focus, currently, on getting this first deal finalized, build the shareholder confidence, and hopefully increase our p.p.s. I believe we are currently undervalued, as well as my investors and the current management and my business associates, and I believe with closing this final deal, it should aid in reflecting what the value of Quasar is.
Jacobsen: Well it's certainly gonna give you a heck of a lot higher valuation if you guys are legitimately entering the space, I can tell you that. So yeah, well hey, you know, this has been a great talk. I think that we'll probably wanna follow up with you, if that's okay, after the press release comes out and then take if from there, 'cause it sounds like the majority of the facts that we need at this point will be in that document.
Vigil: That's correct, that's correct and I'd love to do another interview and speak again to the shareholders, and hopefully in the future we can have a conference call where I can address them again, as well, through that message.
Jacobsen: Sure, yeah, absolutely and we'll reach a point here where we can get people to call in and stuff and we can actually take questions from some people, but for right now, we're out of time. So, once again, I wanna thank you for speaking with us. We've been talking, again, with President and CEO, Donnell Vigil of Quasar Aerospace Industries. Thanks a lot for your time, Donnell. Vigil: Thank you.
