[quote]JACKSONVILLE, FL--(Marketwire -05/14/12)- Quasar Aerospace Industries, Inc. (QASP.PK)
Quasar Aerospace Industries, Inc. is pleased to announce that after a meeting of the majority of shareholders and the Board of Directors, the Corporation has reduced the total number of shares authorized to four hundred seventy five million (475,000,000).
While many issues remain unresolved, the Corporation felt that the share reduction was prudent at the time. As we gain clarity on those issues while focusing on our core business, we will look to align our share structure and capitalization more appropriately; including the conversion terms of the preferred shares.
WOW!!! Another great move by captain Joe!! Nice job once again!