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Price was .0012 (I believe) 2 days before Dean's departure. Price started running day before news when somebody caught wind of it.
So technically we are still "up" with our new CEO.
Have you noticed the current pps?
Increasing the O/S enough to accomodate these preferreds cant be done quietly. Once they filed this increase everyone will know and no one would be interested in investing in Quasar. The pps would drop to .0001 long before any significant amount of shares could be sold by them.
No amount of reasoning could make this sound like a good deal to shareholders.
So these preferreds will be worthless if they were ever converted to commons and everyone loses.
The only feasable option is to cancel them imo.
Based upon what?
LMAO.
Preferreds have no value right now. To convert them would kill all interest in the market and they would never find buyers at .0001. At least not enough to be worth their time.
No, Jeff and gang know the only real chance of making money is to raise the value of the huge amount of shares that these insiders are holding.
And the only way to raise the value is to try and close the funding and stick to the business plan which would require a buyback.
OK, then the next step on the logic ladder would be why get involved again if there was no chance of recovering any money owed to him. Which would lead to the next step on the ladder that funding is a real possibility since without it we have little chance of a future.
Personally, I believe Vaughn isn't owed anything significant. I believe most bills were paid through Dean's dilution including his legal bills. The only thing we fell behind on were probably just the payroll and rent monies that Jeff mentioned here. And I am confident the group that ousted Dean have paid those and are footing the bills for now while they work on funding.
It was confirmed by a number of people here and through fromer IR that Vaughn resigned his positions with Dean and was no longer working for Quasar or Dean.
As for his involvement now, that part is speculation based upon the knowledge that he is one of the parties controlling the trust for the preferreds.
Thats a real leap to think the trust exsists to give creditors first crack at any equity there may be and it makes even less sense to me. And just who do you think these creditors are and what kind of debt do you think we have?
Other than the flight school we have no real asetts. And to think Dean blew through $8M personally is a real stretch. Shares were sold to pay the debt and keep the company in business until funding hit. Each subsequent delay caused more dilution. Commitments to the 6 acquisitions and Mineseeker required more money and dilution. I don't dispute Dean abused the dilution and really made a mess of things. But I do not believe he created a huge debt structure for Quasar.
The problem came when A/S was maxed and funding still hadn't come through. Once Dean couldn't make payroll things imploded. Jeff, Marty, Daniel, Lisa, and whoever else forced Dean out wouldn't waste their time trying to move this forward if your theory were correct and these preferreds were a risk to the share structure.
Dean was forced to sign them over and the company chose to put them in a trust with Vaughn and Landreth as the only ones allowed to access them. This was done to protect the shareholders and these shares will be cancelled when the acquisitions close. This "scenerio" makes more sense to me.
To argue that Jeff, Marty, Daniel, Lisa, and gang are only involved now because Quasar owes them money is a real stretch.... lmao.
And it is completely absurd to argue that they are cut from the same cloth Dean was and will continue to screw shareholders.
Some times you just have to exercise common sense when reviewing information and events to surmise whats going on.
BWTFDIK!
Vaughn left and then when Dean was removed he returned. You think he did this because QASP owes him money?
LMAO, so you think his work up to his resignation was done pro bono?
So why did he leave in the first place?
This "theory" makes no sense......
Those shares are in a trust in the companies name, not Dean's.
Those shares will be cancelled when the business plan is completed.
At least that is my opinion.
Then why is he still involved?
However, Jeff Landreth stated, "We respect the current management team and the business plan, and upon funding, we look forward to exploring all opportunities in the future."
Replying out of context of my statement is misleading at the least. So there is no confusion let me reiterate. I believe we see audited financials AFTER APEX is acquired.
Now let me address your statement with what I believe is true.
"They along with Mr. Bradley's former lawyer control the series A preffered shares. They have the finger on the nuclear trigger."
These shares were never intended to hit the market but were only to be used to insure nobody tried to do a hostile take over by buying up a majority of shares in open market. These prefereds were issued to Dean as part of the deal when he took control of EQUR shell. When Dean was ousted for his "questionable" actions, the shares were locked up in a trust instead of cancelled. Why? For the original reason, to insure nobody could take control by buying a majority interest through the market.
The logic is sound because Landreth (and the other 5 acquisitions) would never approve of their sale if ownership of Quasar was at risk from this type of take over.
I believe Quasar has always intended to cancel these preferreds out once funding, and then buyback is done. It is my belief this is still the plan.
When APEX comes on board I bet we see financials being updated on pinks sheets. I am confident moving to a bigger exchange is still part of the business plan.
The discussion was that audited financials wont come out before funding news. Or any other news.
Not if the company is still persuing funding through the life insurance bonds. Updating filings on pink sheets wouldn't be necessary to close the money.
Not in my opinion. Funding gets announced first.
I know he hasn't sold any was actually buying.
Price reflects excatly what we have right now, a stalemate. Buyers (not flippers) are waiting on confirmation of funding before getting on board.
Anyone expecting an update from company before funding hits doesn't know Jeff very well. If you read his posts the last month or so you would know how he felt about Dean's "fluff" pr's and how they eroded shareholder confidence. He knows anything he puts out will only benefit flippers and will not cause much of a pop in price. He knows the only thing that matters now is getting funding and he will remain silent until it closes.
Of course this is only my opinion......
Yepper, my thoughts as well. I also look for some sort of buyback before next pr of funding closing (provided they get it)
New CEO knows nothing they put out will be believed except completion of funding.
Comparing him to Dean is ridiculous.
You won't see any fluffing from him, nor any excuses. He will either get funding, or he won't. That's the gamble here now, not the flip.
Here is a little tidbit that seems to get ignored, we have one of our own running the company for now.
I know JR made some enemies here with his continued support of Dean and his business plan for Quasar. His extensive due dilligence was unsurpassed and gave him a justifiable reason to have put his faith in what Dean was attempting to build. I was also a strong believer in Quasars business plan.
But when Dean's mismanagement came to light, it was JR who openly discussed this on the thread. It was JR who spearheaded the move to get Dean to step down. And when Dean refused, it was JR who made numerous trips to Jacksonville to get Dean forced out. Without JR's effort there would be no hope for Quasar and a return on our investments, none!.
I do not believe he did this to get himself appointed CEO and suspect he was convinced to accept this appointment by the others in the group working to force Dean out. But I do believe that JR's main goal is to fight for us, the investors, to keep our investments alive. It is also my belief he will follow the original business plan as closely as possible, all aspects of it, including making Jeff Landreth the CEO if/when the acquisitions close.
This is all the resume I need for our new CEO.
And for all of those crying for updates, don't hold your breath. One thing JR is very aware of is Dean's deceptions in PR's and shareholders lack of trust right now. And why would he waste his time putting out a pr that most here will dispute any way? Nope, it is my belief the only news we get is if/when funding is closed. And this will not come out until after the buyback starts.
This is all in my ever so humble opinion BWTFDIK, I am a long.......
Quasar hasn't ponied up the money for the 51% option so they don't own any part of Mineseeker yet and would have no authority to make any decisions regarding Mineseeker at this point in time. We have an "option", not controlling interest for now.
"51% controlling interest means *you* get to make the appointments"
Since we haven't seen any of the details of the "option" agreement for 51% interest, how can anyone make any claims about what Kendrick's appointments have to do with this option. How do we know the agreement doesn't give Kendrick the right to run Mineseeker and make these appointments.
As I understood it, Quasar did pay for the set ups to do the demonstration (retrofitting their technology to a helicopter). But, we still owe Mineseeker for the "option" Dean signed. Not sure how much the balance is but am very sure we still owe it.
Amen brother.....
Somewhere along the line they forgot this was supposed to be a conglomerate.
Thats my thinking.
Mar 18, 2009 13:30 Equus Resources, Inc. (EQUR) Announces Merger With Quasar Aerospace Industries, Inc. (QAI) Is Finalized
PONTE VEDRA BEACH, FL--(Marketwire - March 18, 2009) - Equus Resources, Inc. (PINKSHEETS: EQUR).
The corporate secretary, Marty Zell, is pleased to announce that the merger with Quasar Aerospace Industries, Inc. (QAI) is finalized.
Quasar is an integrated aviation/aerospace corporation created to pursue an innovative and highly synergistic business strategy in the industry. Three wholly owned subsidiaries of the company are:
Atlantic Aviation, Inc. which operates a flight school at Herlong Airport in Jacksonville, FL.
Quasar Aircraft Corporation is developing a four place trainer aircraft and will be the developer of the Quasar I, a twin engine, six place very light jet aircraft.
Aviation Import/Export formed to import aircraft and/or components for sale, lease and use by qualified QAI affiliates and other companies.
Marty Zell said, "After a hard fought legal battle in 2007 to take over the company, the subsequent collapse of the mortgage, real estate markets Equus specialized in, and the stock market meltdown, we were convinced nothing positive would work out for our shareholders. With this merger I believe we have found a partner and management group who will finally add significant value for new investors and all Equus stockholders."
Dean Bradley states that he and the Quasar management team are very excited about the prospects of becoming a public company, and feel that it will greatly enhance their ability to execute the corporation's business plan.
Bert Watson, Jr. and Mr. Zell will remain on the Board of Directors and Mr. Zell will assume the title of Vice-President for shareholder relations. All inquiries regarding your share holdings should be addressed directly to him. Four additional members will be appointed in the near future, and an announcement regarding those individuals will be made immediately after their appointment.
The name of the corporation is in the process of being changed to "Quasar Aerospace Industries, Inc." and a new cusip number has been applied for. As soon as that symbol is available it will be announced in a subsequent press release, until that time EQUR will remain our stock symbol.
The board will be updating our issuer information statement.
Marty Zell was put in charge of the shell EQUR by the BOD until a suitable RM candidate was found. Once it became Quasar he stepped aside and Dean took control. His relationship from there on wouldn't be any different than all the other EQUR shareholders which was strictly that, a shareholder.
My guess is there is something in the agreement Dean signed with EQUR to get the shell that wasn't done and that is what Marty is using as his stick.
It's an NDA so he cant disclose the contents any more than Dean can. But an update on his current discussions with Dean would be nice....
It's far from done. Volume is piddly. They didn't go to all this effort to just fade away.....
pert@3 and fanc@4
Nice edit double d but I saw your original post.
Man, you act like I am defending him. Wow.
I am just trying to make some sense of this mess and sharing my thoughts.
Of couse Apex doesn't have any affiliation with them, now. If your so close to them, why don't you ask them about that pr? LOL, my arguement was why would they be consulting, which has been confirmed, if Dean had lied about them in that pr?
We all know the entire Quasar landscape has changed dramatically in the last few weeks. We also know nothing from the company can be trusted anymore.
Geesh.......
Look harder. He replied to a number of investors who emailed him that he looked forward to working with Quasar (before Dean retracted it)
LMAO, read my remarks again....
I am just presenting my theory as an investor who has been here longer than most. We may never know the real truths here. I am just sharing what I believe has transpired here and caused most of us to be down 85%.
Audits would explain alot but we all know bookkeeping can be skewed to show whatever picture you want.
It will be tough from here on out for any of us to know who to trust or what information is viable.
Easy answer. Acquisition 1 is reportedly Apex. Because of delays in funding by the Clayton Group, demands of shareholders for reassurances, and yes, Deans need to raise cash to keep his ballooning deals on the table, Dean put out that June release. My guess is he convinced Apex to go ahead and sign the purchase agreement providing them with cash upfront and the balance in a promissary note so that he could announce it done.
Follow the trail, why would Jeff get involved at this point as a consultant if Dean had made the June announcement up?
Again, the real reason we have imploded is because of Deans "fly by your seat" antics of making deals without securing funding first.
Sadly it is all out of our control now......
Where is the paid pump?
No arguement that Dean sold into pr's and even got creative but all was done with the belief that funding would come in and he could undo his dilution with a buyback.
Deals were and are real! Just because Dean mismanaged this whole affair doesn't make it like all stinky pinkies. This whole fiasco started with the screw up of the Clayton Group in Chicago. Dean counted on them to live up to their promises and when that became one delay after another this snowballed into our current situation.
These are the facts. No excuses for Dean and his mismanagement of our money and trust. But one just needs to look to the involvement of APEX to know this started as a very real business plan.
Now we are at the mercy of this power struggle.....
What is sad is that some of the claims made against previous ownership are now being made of Dean. I believe this is exactly why this group is hell bent on removing Dean, they are seeing the very same abuses that they fought so hard to get out of a few years ago. There is your motive! (imo)
I disagree and am far from naive. Dean did alot of things wrong but this was never a scam or a P&D. Anyone who believes this is naive and unaware of the history here.
Dean did misuse monies and outright lie to many investors, but most of this was done with the belief on his part that funding would happen. He has been flying around by the seat of his pants, on our dime, spending OUR money frivilously without funding in hand. He should have never comitted any money to any acquisition until financing was completed.
Yes there probably are some very strong criminal cases that could be made against him but running a scam or a pump and dump scheme are not among these.
Irrelevant. That was when this was EQUR and company was being ran by Randy Harris and Steve Cunningham. From what I just read, the posts you refer to were when Marty was trying to secure a position on the board. Further reading shows this is probably when the shareholders, including Marty Zell and the Betros's, started questioning management. This eventually led to the lawsuit filed to remove Randy Harris and Steve Cunningham. If you review the lawsuit you can learn more about the criminal activites of these two guys that led to the shareholders class action suit.
Back to Marty. Once the previous owners were removed, I Marty was appointed to run Equis with the sole task of finding a venture that would bring value to the company. He was a big part of the group that negotiated with Dean (and so were the Betros's) to bring Quasar to life.
I am guessing that he has some documentations of these negotiations that he is holding over Dean's head now that find him in breech of many things.
Covering for move up maybe?
6 x 12 now 409M volume