Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I'm sure you know the answer to your own question, however to update other investors that may not know, the first 2 acquisitions were "..........acquired with a combination of cash and notes." Therefore the notes must be paid off or "closed".
Makamai
Detailed Summary of 7/20/2010 Conference Call by Dean Bradley:
1. Dean stated that he will not be addressing the stock bashers today. Rather, he will address them when appropriate as time goes on. (refer to QASP NR issued 7/16/2010 regarding this subject.)
2. Quasar Audit: The audit should be finished in approximately 2 weeks. The info will be submitted to the SEC and Quasar will then become a fully reporting company and limited information status listed on Pink Sheets will come off.
3. Annual Stockholders Meeting: Shareholders of record as of August 19 can vote by proxy or at the shareholder meeting to be held at Deerwood Country Club in Jacksonville Fla. Meeting starts at 11:00 AM, and lunch will be at 12:00 noon. Only certified shareholders of record who RSVP will be able to attend meeting. The meeting room holds 270 people, and there is a large adjacent room with a big screen TV for overflow.
4. Funding: Dean stated that the funding is ongoing, he won’t provide a timetable based on past unreliable funding source info. Dean went on to provide the following info:
a. Dean stated that the first large funding needed for the present acquisitions is imminent.
b. An NR will be issued as soon as funding is received.
c. Dean will then begin to announce acquisitions as they close, practically every other day, until the company has acquired all 6 of the acquisitions they presently plan to acquire.
d. Dean emphasized that each of these acquisitions are solidly in Quasar’s camp. Many of them Quasar has provided funds to. Mineseeker has been provided with almost $2 million. Acquisition #1 has been advanced over $500K. Quasar has invested money in 3 other acquisitions, in some cases over $1 million to build these companies. Dean has supported these companies so that when Quasar acquires them, they will be MEANINGFUL partners in the conglomerate. (Dean added the emphasis to the word meaningful)
5. Authorized Shares: Dean has no plan at this time to increase the authorized shares (A/S) which at the present time is 1.5 Billion. He did leave the door open, however, by stating that if someone were to come along with a couple hundred million dollars and that by accepting, would require an increase in the A/S he asked: “what do you think I should do? Should I increase it some, or should I turn down the money?”
6. Reverse Split: Question keeps getting asked, and Dean provided the same answer. Only if necessary to build stock value to up list to a senior exchange, such as NASDAQ, etc. (Dean has already stated he plans on getting off the pinks ASAP after funding)
7. W. Rudd’s passing: Dean stated that some “low life SOB” sent an email to W. Rudd as a result of an announcement of his passing in a previous NR, which was upsetting to the family. Dean stated ‘that’s the kind of people he has to deal with (seemingly) on a daily basis”.
8. Password Protected Website: Dean stated that the company is intending to limit some information only to shareholders by requiring a password to access the website do to problems as stated above. He further stated that no info will be provided on the Croatia tests at the present time, because the company can’t deal with the interference some people have caused. Dean stated that someone contacted a Croatia organization that had nothing to do with Mineseeker testing, and put it all over IHub.
9. Dean’s monetary Contribution to Quasar. Dean stated that he has personally invested almost $8 Million into Quasar and its intended acquisitions over the past 12 months to keep them going, and he will continue to do so if and as necessary until they are acquired as his funds permit.
10. Next News Release: Dean stated in closing, that he expects to issue a press release by Friday with additional information. He indicated that he intends to limit it to shareholders that he expects the transfer agent to provide him with a list of. (It remains to be seen if he can legally restrict information since Quasar is a publicly traded company).
Like you, I'm looking forward to an informative CC as well.
Makamai
Totally agree Manti - that NR tells me that soon money is not going to be a problem, and they can right the wrongs that have been committed against the company.
Makamai
Richie - Dean has an extensive legal team to follow up on nailing those who would stop at nothing in their attempts to discredit the company. There is a limit to 1st ammendment rights when it comes to libel and slander. I applaud his courage to take this on. This will have no impact on Dean's focus which is to secure the funding and close acquisitions. I suspect we will be pleased with the progress he reports in the CC on Tuesday.
Makamai
I couldn't agree more - vindication is even sweeter than revenge...
Makamai
I'm confident Dean's team can pull us through. They just need those they are relying on to do their job, and in the case of Newby, no more short cuts that blow up in his face.
Makamai
Wall street doesn't think Life Insurance based policies are a joke...
Wall Street Pursues Profit in Bundles of Life Insurance
By JENNY ANDERSON
Published: September 5, 2009
After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one.
The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.
The earlier the policyholder dies, the bigger the return — though if people live longer than expected, investors could get poor returns or even lose money.
Either way, Wall Street would profit by pocketing sizable fees for creating the bonds, reselling them and subsequently trading them. But some who have studied life settlements warn that insurers might have to raise premiums in the short term if they end up having to pay out more death claims than they had anticipated…………
http://www.nytimes.com/2009/09/06/business/06insurance.html?_r=4&pagewanted=1
Makamai
Aloha JR - greatly appreciate the time and energy you have expended in support of your beliefs regarding Quasar. There is risk with every investment, however when sizing up a play, looking at reward vs risk is what investing is all about. Dean seems to have a remarkable ability to inspire folks and to be resourceful in meeting challenges when presented with them. I'm confident that he will rise to the occasion and come through again. Hope you are enjoying the holiday weekend...and the fireworks as well...and lets hope we have some fireworks with the SP rebounding next week.
Makamai
Banker - Too much at stake to let it fail at this point in time for Dean who has spent the last 5 years of his life working on putting this conglomerate together, for the company in general and for its investors/shareholders. I'm sure there will be many offers of assistance to Dean for money if needed. $1.75M is minor in the grand scheme of things. I suspect we will get the loan announced in less time than the 10 banking days that the NR stated.
Makamai
Woodie - I know you've just come to the party, however I've been in this one for a year now, and I'm telling you that once the money hits, its nothing but blue sky. I can't emphasize enough holding some at this point in the game. Johnny has the right idea.
Makamai
Brikk - us longs have had to put up with way too much FUD from the bears over the last year, however our time has come. My DD tells me that QASP is going to be like the Energizer Bunny, and just keep going, and going, and going up for at least the next 3 years or more...Triumph is going to feel mighty good
Makamai
WI - Hope you are in this one - it will be that 1 in a million that you are looking for and you can take that to the bank....starting tomorrow IMO.
Makamai
Banker - I certainly agree with your bottom line "Many good options here to choose from. In one year we are long, up-listed and our value is huge". I believe that once Dean has completed the initial acquisitions, and has a couple of MS contracts announced, obtaining money will no longer be a problem for him. The first loan is always the most difficult to work through, but once the market gets an idea of what the "conglomerate" is going to be worth, funding deals will be lining up at his door with very attractive terms, much better that what he presently has with Newby. This is what leads me to believe that this loan may be paid off sooner than later. Time will tell.
Makamai
Banker - If I understand the way this loan was structured, if the share price cooperates, IMO the UCC1 filing on $165,000,000.00 of QASP's targeted acquisition assets required 90 days after the closing of all targeted acquisitions will never happen. That's because the loan will be paid off from monies received by Quasar from sale of the warrants. Would that be your understanding as well?
Makamai
Like a big lobster claw...
When has QASP, a pinkie, ever filed any 8Ks or 10Qs for that matter? Answer is they haven't as of yet, but will when the audit is completed in preparation to up list.
Makamai
Several large orders going through at the ask...looking GREEN for today
Makamai
You are way over analyzing the situation - whether you feel it unlikely or not is no longer an issue. The collateral has been accepted, the loan has closed and we have NRs to prove it. We don't need an NR saying Dean has the money because he already stated the timeframe that money would show up in QASP account. We'll know for sure when Dean begins announcing acquisitions like he said he was in his CC starting the week of June 20th. My DD says we have a very high probability of getting our first NR tomorrow....That's how Dean will "show me the money" by closing acquisitions!! End of discussion...
Makamai
You are correct that an 8K would be filed if QASP was required to file SEC docs, however as a pinkie they are not. That doesn't mean that they won't in the near future after the audit is completed. They have to be SEC compliant to up list. If you listened to the last CC, they are going to file last years annual and the first quarter as follows: The company is in the process of getting the 2009 year end Audit complete. It has been promised by July 15th. Dean feels that it won’t make the 15th, however by the 20th - 25th at the latest. The company will also have to do a consolidated balance sheet for June 30th, because they will have another 5 or 6 acquisitions completed by the end of June. When we file 2009 audited financials and update them with first quarter 2010, will become fully SEC reporting pink sheet company.
Makamai
Congrats to having a daughter in advance - and lucky for her that she has a dad who thinks that far ahead. By then, even though college tuition will be much more than today - she most likely will be able to go to the college/university of her choosing and have some change left over. I wouldn't be surprised to see Quasar listed as a Fortune 500 company someday in the relative near future.
Makamai
Banker - Where promotion is concerned, Dean certainly is motivated to drive the SP up to at least a level where they can up list to the Nasdaq or Amex in the next 90 days or by the end of September. The stock right now IMO is perfectly positioned share wise to handle the surge of institutional investors that will take a position once the up list occurs. Just another reason why Dean wouldn't want to do an R/S to raise the SP. Dean has promised to deliver the goods next week and my DD tells me we won't be disappointed. Our time has finally come and its even more special just following Father's Day weekend. And with that, a Happy Father's day to all...
Makamai
DETAILED SUMMARY OF QUASAR’S CONFERENCE CALL for JUNE 10, 2010:
(corrected type-o's)
1. What is the status of the Company Buyback? The company buyback is virtually non existent at the present time. That’s because they have so much money required on a weekly basis from Mineseeker and Tigerfish. The company’s money is going to build the company. Dean and affiliates have been buying though. Let me emphasize that the O/S increase is meaningless compared to the tremendous good that the money is creating in value for the company.
2. Will Sir Richard Bransons celebrity status be used to promote Mineseeker’s operations overseas? Of course it will. Not only will his status be used, but so will Richard Attenborough, Nelson Mandela, Queen Noor and many others who have worked diligently in the past in this mine removal program. Have approached Prince William and Prince Harry for permission to name the first helicopter 'The Spirit of Lady Di'.
3. Dean stated that he made an offer today to buy two excellent helicopters which will provide the equipment for the first team. Hopefully these first two helicopters will be delivered to Africa in early July.
4. What is the status of the funding from London? So far Dean has been told that all roadblocks have been completed and receiving traunches of 100 mil in the near future. Dean will update us next week when he gets more info on the subject.
5. When will there be a major reduction in O/S? Most likely first week in July the buy back will begin, and go on very aggressively moving forward after that. Looking at buying back 20-30% of the outstanding shares and the company will have plenty of money at that time to do that.
6.Is there any need to increase the Authorized Shares? An A/S increase is still off the table. No need whatsoever to increase it and no desire to.
7. Who owns the 165M assets that have been pledged? A major trust fund bank is affiliated with the 110 mil loan collateral. First 10 million is anticipated imminently, The next 100 million will follow within days.
8. Considering Dean’s age, what are plans for succession? Dean says he isn't going anywhere, but an employment agreement has been signed already for a person starting July 1st as the new President and Chief Operation Officer (COO) of Quasar. He is a brilliant Aerospace Executive. His credentials are absolutely impeccable. Dean will remain as Chairman and CEO however he will remain in the background from the standpoint of operations, focusing on funding and corporate governance, and we will have a new CFO coming onboard as well to take over the accounting. Dean says the company will expand dramatically in the next few weeks that it would be impossible for Dean to carry on without that kind of help.
9. How will the present Word’s economy affect Quasar and do you foresee any affect on the earnings in general? Dean says that the World economy will not hurt business at all. One company that QASP is acquiring week after next has $40 million in annual sales and has a $250 million backlog. All companies acquired this month will have a 20% EBITDA except Tigerfish USA that probably won’t bring in any revenues for about a year. However, Quasar is limiting investing in Tigerfish at 7 mil. Dean is expecting to receive a venture partner from EU or Indian aerospace company to carry on that development program.
10. What will Mark Lundquist role (presently Senior VP) be and will he be full time with the company?: At annual meeting in August, Mark will be on board on a full time basis, and will be managing Quasar Financial Corporation and the investment of the surplus cash which is expected to be well in excess of 100 mil.
11. What is the status of the Audit to prepare consolidated financials? The company is in the process of getting the 2009 year end Audit complete. It has been promised by July 15th. Dean feels that it won’t make the 15th, however by the 20th - 25th at the latest. The company will also have to do a consolidated balance sheet for June 30th, because they will have another 5 or 6 acquisitions completed by the end of June. When we file 2009 audited financials and update them with first quarter 2010, will become fully SEC reporting pink sheet company.
12. Is Mineseeker closed yet? NO. However Dean says it will be closed the week of June 21st. Dean is very very confident about this and sees nothing that could stop it from happening...will announce the closing of Mineseeker just the minute it happens. Dean says he is booked for a flight to the demonstration in Croatia for July 8 thru 11.
13. Can Mineseeker technology be used to detect unexploded WWII ordinance that is frequently found in Germany? The Mineseeker downward seeking radar can penetrate to 3 meters (9 feet), if bombs are deeper then they wont be detected. Dean’s sister-in-law had one found in her yard 40feet from her apartment last month when they were doing some remodeling. Dean says they find them on the average of 1 a month in Germany alone.
14. What is the Float and the number of restricted shares? Dean said he didn’t know the answer to that question at the moment.
15. When will the dilution be over? The dilution will be over @ 1.5 billion shares issued (if it reaches that). Then the anti dilution will commence (buy back). Dean reiterated that all the fuss over dilution is ridiculous as the company is only diluting to sustain operations until funding received. No dilution will be needed once funding is received.
16. Is there any possibility of Reverse Split? Only time Dean would even consider doing a R/S, would be IF it was necessary to up list on AMEX and NASDAQ exchange. That's the only scenario. Dean said, for example, if our share price is $3 and the requirement is $5 to up list, they would consider doing a 2:1 split to raise the SP to $6 to qualify us for the more sophisticated exchange.
18. Concerning the website: The company is not happy with their current website designer. They have signed a contract with a new web designer. Website will be very different by early July. Later changes to the website will be made within minutes instead of days.
17. In Closing, there are many things happening in the next 10 days and he will be traveling a lot and therefore will film a weekly video update and put it on the website from where he is. Stay safe and keep the faith.
I'll let that type-o go for humor's sake
Makamai
My bad...I fixed it Mahalo
Makamai
DETAILED SUMMARY OF QUASAR’S CONFERENCE CALL for JUNE 10, 2010:
1. What is the status of the Company Buyback? The company buyback is virtually non existent at the present time. That’s because they have so much money required on a weekly basis from Mineseeker and Tigerfish. The company’s money is going to build the company. Dean and affiliates have been buying though. Let me emphasize that the O/S increase is meaningless compared to the tremendous good that the money is creating in value for the company.
2. Will Sir Richard Bransons celebrity status be used to promote Mineseeker’s operations overseas? Of course it will. Not only will his status be used, but so will Richard Attenborough, Nelson Mandela, Queen Noor and many others who have worked diligently in the past in this mine removal program. Have approached Prince William and Prince Harry for permission to name the first helicopter 'The Spirit of Lady Di'.
3. Dean stated that he made an offer today to buy two excellent helicopters which will provide the equipment for the first team. Hopefully these first two helicopters will be delivered to Africa in early July.
4. What is the status of the funding from London? So far Dean has been told that all roadblocks have been completed and receiving traunches of 100 mil in the near future. Dean will update us next week when he gets more info on the subject.
5. When will there be a major reduction in O/S? Most likely first week in July the buy back will begin, and go on very aggressively moving forward after that. Looking at buying back 20-30% of the outstanding shares and the company will have plenty of money at that time to do that.
6.Is there any need to increase the Authorized Shares? An A/S increase is still off the table. No need whatsoever to increase it and no desire to.
7. Who owns the 165M assets that have been pledged? A major trust fund bank is affiliated with the 110 mil loan collateral. First 10 million is anticipated imminently, The next 100 million will follow within days.
8. Considering Dean’s age, what are plans for succession? Dean says he isn't going anywhere, but an employment agreement has been signed already for a person starting July 1st as the new President and Chief Operation Officer (COO) of Quasar. He is a brilliant Aerospace Executive. His credentials are absolutely impeccable. Dean will remain as Chairman and CEO however he will remain in the background from the standpoint of operations, focusing on funding and corporate governance, and we will have a new CFO coming onboard as well to take over the accounting. Dean says the company will expand dramatically in the next few weeks that it would be impossible for Dean to carry on without that kind of help.
9. How will the present Word’s economy affect Quasar and do you foresee any affect on the earnings in general? Dean says that the World economy will not hurt business at all. One company that QASP is acquiring week after next has $40 million in annual sales and has a $250 million backlog. All companies acquired this month will have a 20% EBITDA except Tigerfish USA that probably won’t bring in any revenues for about a year. However, Quasar is limiting investing in Tigerfish at 7 mil. Dean is expecting to receive a venture partner from EU or Indian aerospace company to carry on that development program.
10. What will Mark Lundquist role (presently Senior VP) be and will he be full time with the company?: At annual meeting in August, Mark will be on board on a full time basis, and will be managing Quasar Financial Corporation and the investment of the surplus cash which is expected to be well in excess of 100 mil.
11. What is the status of the Audit to prepare consolidated financials? The company is in the process of getting the 2009 year end Audit complete. It has been promised by July 15th. Dean feels that it won’t make the 15th, however by the 20th - 25th at the latest. The company will also have to do a consolidated balance sheet for June 30th, because they will have another 5 or 6 acquisitions completed by the end of June. When we file 2009 audited financials and update them with first quarter 2010, will become fully SEC reporting pink sheet company.
12. Is Mineseeker closed yet? NO. However Dean says it will be closed the week of June 21st. Dean is very very confident about this and sees nothing that could stop it from happening...will announce the closing of Mineseeker just the minute it happens. Dean says he is booked for a flight to the demonstration in Croatia for July 8 thru 11.
13. Can Mineseeker technology be used to detect unexploded WWII ordinance that is frequently found in Germany? The Mineseeker downward seeking radar can penetrate to 3 meters (9 feet), if bombs are deeper then they wont be detected. Dean’s sister-in-law had one found in her yard 40feet from her apartment last month when they were doing some remodeling. Dean says they find them on the average of 1 a month in Germany alone.
14. What is the Float and the number of restricted shares? Dean said he didn’t know the answer to that question at the moment.
15. When will the dilution be over? The dilution will be over @ 1.5 billion shares issued (if it reaches that). Then the anti dilution will commence (buy back). Dean reiterated that all the fuss over dilution is ridiculous as the company is only diluting to sustain operations until funding received. No dilution will be needed once funding is received.
16. Is thief any possibility of Reverse Split? Only time Dean would even consider doing a R/S, would be IF it was necessary to up list on AMEX and NASDAQ exchange. That's the only scenario. Dean said, for example, if our share price is $3 and the requirement is $5 to up list, they would consider doing a 2:1 split to raise the SP to $6 to qualify us for the more sophisticated exchange.
18. Concerning the website: The company is not happy with their current website designer. They have signed a contract with a new web designer. Website will be very different by early July. Later changes to the website will be made within minutes instead of days.
17. In Closing, there are many things happening in the next 10 days and he will be traveling a lot and therefore will film a weekly video update and put it on the website from where he is. Stay safe and keep the faith.
Excellent summary to a very informative CC. It's nice to finally know that its only a matter of days before QASP becomes a fully functioning conglomerate with millions of dollars in revenue.
Congrats to all the believers...
Makamai
I just got put on hold for CC
Makamai
Excellent!!
Dooley - In your opinion, is the July Mineseeker demonstration in Croatia that Dean spoke of in his video today what was previously NR'd as being in June at two locations near Sibenek, on the Dalmatian coast for the UN, or is that still a go?
Makamai
To answer your question UFGTRS, the stock has bounced off the 50 Day Moving Average (.012) twice this week as we have been in a consolidation mode since the run up last week. Having been tested twice, IMO the 50DMA is providing solid support. As the stock consolidates, it is building up energy that will assist in propelling it upward as we continue the upward trend that we are now in next week. The 200 DMA (.017) is the next resistance level to be broken. Having broken the 200 DMA last week, IMO when broken again with a close above it, we will soon leave it far behind. Without news, I see us closing in the mid to high 02's by the end of next week. With news or enhanced buy back, we could easily establish a new 52 week high by Friday. All IMHO. (Chart Below)
Makamai
How about the acquisition's assets which in previous NR were estimated at over 165Mil as collateral for Newby.
Makamai
"Usually long term pattern has more influence on overall direction then short term pattern " - I totally agree which is why I said the 2 day pattern needed confirmation as todays action was indecisive for whatever reason.
Makamai
Agree - actually Dean said "around" the 20th - some people are just workaholics, and one work day is just the same as the next
Makamai
Detailed Summary of Conference Call #3 of June 03, 2010
1. Mineseeker folks were at Quasar all last week and agreements and investment schedule have been modified with closing anticipated for around the 20th of June, however with written extensions until the end of June .
2. All this week Tigerfish folks (Chief Engineer plus assistants and Tigerfish founder) were at Quasar for RAPT program . Quasar has signed an engineering contract with KTM of Greeenville S.C., and imbedded Tigerfish engineers with KTM to take that engineering architecture forward, and will also continue with market studies. More to come in the near future. http://www.ktmsolutions.com/uploads/Default.asp
3. All acquisitions are still in place. Dean is extremely confident that he will close at least another 4 or 5 of them within the next 3 to 4 weeks.
4. Tomorrow Dean will sit in front of the Video camera and answer the 15 to 20 questions that he has been able to boil them all down to and post them on the website as he has been extremely busy today.
5. Dean put Shannon Newby of Newby and Associates out of NY on the phone to attempt to explain the financing process: (A banker trying to simplify a complex process - did it help – not sure) NEWBY & ASSOCIATES, INC.
165 EAB PLAZA WEST TOWER - 6TH FLOOR
UNIONDALE, New York 11556 516-451-0530
a. Taking a group of assets and putting them with their private bank. Assets are in excess of $175 Million. They are then taking a guarantee from their private bank and issuing that guarantee in the name of the trust corporation that they are using that will block the actual cash amount that is needed in order to guarantee an additional bank where they are going to receive additional funding from. The actual trust guarantee is rated AAA. The actual credit rating for the private bank is investment grade, but not AAA. So they are cross collateralizing assets and once that process is completed, that will provide sufficient collateral to pull down the full amount needed to finish all the acquisitions.
b. So in summary – they are taking a group of assets, cross collateralizing those assets, and going from Bank A to Bank B with each guarantee and raising the actual rating status of the actual guarantee from bank to bank. So the last step would be, that once that AAA rated asset is put at the funding bank, funds can be pulled down within 7 banking days.
c. So as per the NR today, they have already closed on the first and most important piece of collateral which is in excess of $10 Million. That allows them to go to the AAA rated collateral trust and pull down the $10 Million backed feed and send it over to the bank to be funded immediately within 7 banking days. Says its basically very simple there are a few banks involved – just one bank guaranteeing another and if there is a default, they loose the assets at the initial bank, and so to recoup their monies, they take all the assets they funded through the acquisitions to cover.
6. Dean then summarized – what it boils down to is Dean thinks that within about15 working days from now, they should have the funding in place to begin rapidly closing the next 4 or 5 acquisitions that are ready to go and that includes Mineseeker. He will try and answer as many questions as possible at the video conference tomorrow without compromising their NDA with the first 4 acquisitions. Please rest assured that we are really poised and ready to go forward with our conglomerate.
I'm in to the CC
Brick, as documented on the following chart, there is no minimum share price for the NYSE which would be a logical choice especially if the SP was less than AMEX or NASDAQ would require and that would assure no R/S.
http://www.venturelawcorp.com/listing_requirement_chart.htm
Makamai