ALL PR's in one post - basic DD for new investors
March 9, 2009 Equus Resources, Inc. (EQUR). announced two new members of the Board of Directors. They are Bert Watson, Jr. (previously a director and interim president of the company), and Dean Bradley. Dean Bradley was elected to serve as president of the company and a board member.
Mr. Bradley has served as CEO or President of multiple companies in both the public and private sectors. He has founded over a dozen companies and launched startups. He is the CEO of an aerospace/aviation corporation that has signed a letter of intent to merge his holding company into Equus Resources, Inc.
The board will be updating our issuer information statement and entering into a definitive agreement to merge with Mr. Bradley’s current company.
The goal of the company is and has been to clean up the corporation on which to base future efforts to find a merger partner that will assist us in re-establishing value to our investors. After reviewing many plans we believe this merger to be an excellent opportunity for our shareholders.
March 18, 2009 – Equus Resources, Inc. (EQUR) announced that the merger with Quasar Aerospace Industries, Inc.(QAI) is finalized.
March 27. 2009, the corporate president, DeanBradley, is pleased to begin introducing Quasar Aerospace Industries, Inc. to the public. QAI is the holding company for a group of aviation related entities that by joining together help makes each of them more efficient and profitable. One of its wholly owned subsidiaries is Atlantic Aviation, Inc.
Atlantic Aviation, Inc. (AAI) operates a flight school at Herlong Airport in Jacksonville, FL. It is presently negotiating with the Jacksonville Aviation Authority for a long-term lease to build a state of the art flight training facility. The facility will have a 14,000 sq. ft. maintenance hangar that will hold six aircraft, a 6,750 sq. ft. administration, training building, and ramp parking for 25 aircraft when completed.
AAI was formed to respond to a critical shortage of flight school capacity in Florida with a particular demand for training international students. Once the initial school is operational, the goal is to market this "School Concept" as a turn-key franchise opportunity to aviation professionals around the country.
Atlantic has signed a letter of intent with a group from India to train foreign flight students, and has submitted an application to the U. S. Secretary of State for approval for this operation. When the program begins, we will start adding ten students per month until we are fully operational with 60 students in training at all times at varying stages of training and a full capacity of 80 students. The program runs for approximately six months, and each student pays $66,000 for the full program. At full capacity this one school could generate approximately ten million dollars in revenue with margins ranging from 38-45%. The flight training program currently has eight students enrolled.
April 02, 2009 the company announced that the Amended and Restated Articles of Incorporation were filed with the Secretary of State for Colorado on March 31, 2009, and the name of the corporation is now officially Quasar Aerospace Industries, Inc. The application to FINRA has been submitted and they have indicated that a new trading symbol will be issued after their Corporate Data Operations have reviewed and accepted the filing. This process typically takes three to four weeks.
Of further news, the CEO is proud to announce the appointment of James Ray as the president of Quasar Aircraft Corporation, a wholly owned subsidiary. He will lead the design engineers and the manufacturing process for both the new single engine training aircraft we are developing, and the development program for the twin engine very light business jet that is currently under way. Mr. Ray brings over 40 years of senior level management in the aerospace/aircraft industry to our team.
Mr. Ray is one of the world's foremost experts in composite fiber technology having worked for the original United States Air Force team that initially evaluated graphite fibers for aviation use. In addition, James Ray headed up the deign team for Sikorsky Aviation, a division of United Technologies, to bring us the Blackhawk and Seahawk helicopters. Most recently, Mr. Ray was CEO of North American Composite Consortium which serves as a liaison effecting aviation contracts for the United States Navy.
April 14, 2009 announced the addition of Thomas Costanza as the company's Chief Financial Officer. Tom is a very strong addition to our management team. He brings nearly 20 years of experience in financial management, tax expertise, securities compliance and "Best" Accounting Practices to the company. "We share a commitment to carefully manage cash flow and operating expenses while still working toward the launch of revenues and growth through planned strategic initiatives," said Dean Bradley, Quasar's Chief Executive Officer.
May 5, 2009 -- Quasar Aerospace Industries announced the signing of and execution of a binding agreement to acquire a manufacturing company that will provide production capability for the Quasar line of aircraft currently in development. For security reasons the name of the company will not be divulged until the acquisition is closed.
The acquisition is to be made with private funding at $54 million, of which $40 million will be in cash and the remainder in assumption of liabilities.
This acquisition when it closes sometime prior to July 31, 2009 will add approximately $44 million to our revenue stream and $10 million in EBITDA.
The company to be acquired has a vast range of capability in the aerospace industry, and operates three plants totaling approximately 300,000 sq. ft.
The company owns two of the plants equaling 190,000 sq. ft. and leases the third plant.
The handsome revenue and profit numbers are achieved with less than 250 employees, and does so with a superb safety record.
Dean Bradley, the company CEO, is pleased beyond words that this superbly managed company has elected to join the Quasar Aerospace family.
June 17, 2009 -- Quasar Aerospace Industries announced the signing of an agreement to acquire a third aviation/aerospace company. The full Board of Directors of the company to be acquired unanimously approved recommending to the shareholders that they accept the offer of One Dollar per share for the 32,000,000 shares outstanding. The members of the Board hold over 80% of the outstanding stock so shareholder approval is certain to be obtained.
The company's name for the obvious reasons must remain anonymous until the transaction is closed, which is scheduled for the middle of August of this year. This acquisition will add approximately $18,000,000 to our annual revenues and $3,750,000 to the bottom line. The current management team will remain intact. Quasar's management team has been closely associated with this company for over three years, and is extremely pleased that they have elected to join our family of companies.
Chief Executive Officer Dean Bradley said that this acquisition will open other opportunities that we will pursue in coming months that could conceivably double the forecast for 2010.
July 21, 2009 the company announced the retention of an accounting firm to oversee our accounting practices, securities agency compliance, tax planning, acquisitions accounting, and the consolidation of our financial reporting. The firm is The Griggs Group in Ponte Vedra, Florida. (www.TheGriggsGroup.com)
The closing of our first three acquisitions is now scheduled for August 14, 2009. The addition of these companies to our group will add approximately $70 million in annual revenue with an EBITDA of about $15 million.
Chief Executive Officer, Dean Bradley, said, "This association will help facilitate a well controlled entry into the next evolution of our company."
August 4, 2009 - Quasar Aerospace Industries announced that at a regularly scheduled meeting of its board of directors today, the board authorized upon completion of funding of previous announced acquisitions Quasar will begin to repurchase up to ten percent (10 %) of the companies issued and outstanding shares at the companies sole discretion. There will be no fixed termination date for the repurchase program and can be expanded to up to twenty percent (20%) at the discretion of the management committee.
"We believe a stock repurchase program is a way to optimize the value to our shareholders," said Dean Bradley, Chief executive Officer, Quasar. "Our share repurchase program will allow us to return cash to our shareholders, while at the same time provide the flexibility to aggressively invest in the business for additional growth and differentiation, which we believe to be good for both our customers and our shareholders."
August 6, 2009 Quasar announced that at a special meeting of its board of directors on August 5th, the board authorized The Chief Executive Officer to sign the agreement in principle to acquire our Target Acquisition #4 (TA#4). It has been agreed that TA#4 must be closed simultaneously with the three previously announced acquisitions. Therefore the closing date for all four has been delayed until August 28, 2009. This deal will more than double the previously announced forecasts for both revenue and profit for 2010. We are now estimating that our 2010 revenue will exceed $150 million and our pre-tax profit is estimated at approximately $33 million.
AI
