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Quasar Aerospace Industries, Inc. CEO Clarifies Mineseeker Deal
JACKSONVILLE, FL -- (Marketwire)
04/21/10
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)
Dean Bradley, the CEO of Quasar Aerospace Industries, Inc. is pleased to share the latest developments for Mineseeker Overseas Operations, Ltd. The following is a joint statement by Dean Bradley and Michael Kendrick, the founder and chairman of Mineseeker.
Mineseeker and Quasar Complete Negotiations
An agreement for Quasar Aerospace Industries, Inc. to take a controlling share in Mineseeker Operations has been reached. The negotiations have suffered delay, due in some part, to the closing of much of Europe's airspace, which meant that the parties were unable to meet to discuss final terms. However, this has now been completed remotely and the contractual documents will be signed within a few days.
The deal involves Quasar securing a controlling share in the for-profit company, Mineseeker Operations (www.mineseeker.com).
The not-for-profit Mineseeker Foundation (www.mineseeker.org) will continue with its awareness and victim support programs. As part of the deal, The Mineseeker Foundation will be licensing Mineseeker brands to Mineseeker Operations which will enable it to exploit the intellectual property built up by the Foundation over the last decade.
Mineseeker Operations will be showcasing its products to the humanitarian de-mining community in Croatia on April 27th - 29th at a convention that will be attended by NGO's, funders, affected Governments and supply companies.
A formal press announcement will be made on completion.
A rumor has been spread by people who do not seem to bother with the truth or getting the facts straight that QASP is dealing with the Mineseeker Foundation which is totally incorrect. QASP is acquiring a 51% interest in Mineseeker Overseas Operation, Ltd., which is incorporated in BVI.
This for-profit corporation is currently negotiating hundreds of millions of dollars of contracts with companies in the Balkans and Africa. The particulars of these contracts will be shared at an appropriate time. QASP has invested $847,000 in Mineseeker Operations to date and will be advancing an additional $160,000 this week which will take our investment to just over $1,000,000.
Last week the representatives of the Irish corporation, their attorney, Quasar's management team and their two attorneys met in Freeport, Grand Bahama to iron out last minute details of our long term funding. We anticipate closing this financing and our first five acquisitions in a matter of days now.
no change in OS was reported, in spite of yesterdays volume
Dean does not determine the price these people sell these shares at. They negotiate a discounted price and give Quasar the money. If the freakin finance group would cut loose the money Dean wouldn't have to go this route. This third party could hold these shares but their history shows they are perfectly content to sell them as fast as they can and make their profit now. Why wouldn't they, they are making a killing since Dean has been forced to turn to them over and over again. If they would let this thing breathe a bit before unloading these shares we wouldn't be down here. That is their greedy fault, not Deans.
Dean could be falted for moving quicker than the money but I suspect we will all forgive him when its all out in the open.
IR has told a number of people, in writing, that they have started the buyback many times but were then told by the lenders to stop. That tells me the buyback isn't totally in Deans hands.
I don't know why the funding keeps getting held up nor do I know why they keep giving Dean dates and missing them. I don't blame Dean for this.
Again the company isn't selling at .01. That's not how it works. They have a third party buying shares at a discounted price. Dean gets the cash he needs to pay the bills and the third party gets a bunch of discounted shares. It's a dirty business all to familiar in pinkyland but a necessary evil for Quasar until the freaking financing group opens the purse strings.
Stop blaming Dean for what HDSN does. Its the third party calling the pps shots right now. Whatever they are willing to sell their shares at is the culprit for the depressed price and the fact that there isn't enough buyers at higher prices for them to sell these shares. And that is their only concern, to sell the shares quickly for the cash they give Quasar.
I am pretty confident we will see some of the pieces come together this week.
Dean knows our frustration and is just as anxious as we are to get this thing moving.
I think right now everybodies patience is being tested especially in light of the volume and decline in share price lately.
Those 1 and 2 cent increases you mention would go along way to restore faith. I think we see this before any updates which is fine by me and the sooner the better.
Longs know this is a multiple dollar stock but most of us would like to see some gains sooner rather than later.
I think this week will end the waiting game and we start seeing these gains.
Its much easier to be patient when your not in the red all the time.
I think 10 days is 10 days and we get it this week.
I am quite certain whoever is buying these shares from Dean is not privy to any insider information and have no desire to know. They make there money selling the shares and are probably making a killing. O/S has gone up almost 900M.
Imagine they are getting these shares at .01 so they would have a cost of $9M. And then they were able to sell them into the market at an average price of .015 for a total of $13.5M, a profit of $4.5M. So why not sell all of them and eliminate almost all of the risk.
I am not saying they got all of the shares the O/S went up and I have no clue what they are paying for these shares. I am just using that as an example.
Nope.
How do you prove they mislead you? You can't. And forget the forward looking statement at the bottom of each pr cause it means nothing.
A company can pr that they expect to make a gazzilion dollars this year and never make a cent. I could pr that I expect to make a million dollars this year, don't we all? So what if there is no chance for a company to make a gazzion dollars this year, it doesnt prevent them from pr'ing this. They just have to say they had hoped to it at the time and things didn't work out.
(Of course I do expect to make a million off of Quasar...lol)
You need to understand how this works. The company doesn't "dilute" the shares straight in to the market. There is a third party who purchases these shares at a deep discount and the company has been using that money to keep things moving forward.
It is this third party that is dumping these shares and they are kind of dictating the market. Up until this week they were fairly content to slowly sell these shares into the market, in somewhat of a tight price channel.
This week they seemed to be continuing this method until today. Based upon the volume this week I believe they still had a substantial amount of shares today. I also believe they wanted to liquidate the balance today and brought the price down to induce the buying pressure needed to unload them. As I said earlier, this caused a few to panic and bail when they did this, lowering the price even more.
It is my guess that a portion of these transactions has been put into the companies brokerage account each time to buy shares. I suspect Dean adds to his personal account during these dips as well. I know I would if I were him.
Since the company and Dean do not control how the sold shares are to be resold by this third party, and certainly have no control of share price caused from their selling, there is no conflict of interest.
The seller needed volume to sell those 39M shares. Buying wasn't there all week at higher levels to unload all of them. So they dropped it to create the demand with investors jumping at the lower price. This induced a bit of panic selling dropping price even more.
Looks like they may have finally unloaded them.
Like it or not we needed them to finish before we can really expect the news and upswing we want.
Not likely since the reverse split took "all" of the shareholders out of the picture.
Thanks for sharing that update.
More than a little
(big smile)
Once all of the news we are expecting hits it will be even higher than alot.
Now it says 661. 2 weeks ago it was 633. I would say they are up significantly.
What about those who have no clue about Quasar?
Clueless people can be nice to (grin)
It's not a man but a shell corporation used to transfer funding to Quasar from the lenders and the money raised from the bond issue.
Have you read any of the pr's?
"The funds from the transaction will be transferred to Quasar's account as lump sum, upon the execution of the final documents. The funding transaction is structured as a loan, the proceeds of which originate as part of a $1 billion bond issued by Inver Finance Ltd., an Irish corporation.
The bonds, which are secured by $1.4 billion of life settlement policies on individuals over 72 years of age, bear interest at 6.5% with a ten-year term."
Try reading again. PR said next 2 to 3 weeks for funding. Kendrick response said hope to meet and finalize in the next couple of weeks (not 2-3). And he said "hopes" because he knows he cant get it finalized until the funding hits.
Come on man, this aint rocket science.
Yes it is a lot of verification. Look at some of the people they are paying. Lots of confirmations in this thing for those who know what they are looking at.
What are you doing here? Have you heard of the $350M investment coming in? Have you heard about any of the acquisitions coming in?
Lose the caps.
Nice job of "Bear Hunting"
The confirmations just keep adding up.
Of course they will ignore this information.
"Thanks to a recent substantial donation from the CEO of US-based Quasar Aerospace, Dean Bradley, we are in the process of setting up a number of new mobile prosthetics clinics that will travel around war-torn areas providing new limbs for landmine victims."
The audacity of Mineseeker to mention Dean and Quasar in this news release. Don't they know this is a scam?
LMAO.
Oh where, oh where has our little bears gone? Oh where, oh where can they be?
Come on bears, jump on this opportunity to slam this latest peice of confirmation.
Then enjoy the ride.
It will be one to remember
No need to get testy!
So what exactly is it then that you are taking issue with? The amount not being mentioned in latest PR? I think it has been well documented what the amount is.
If you are "insinuating" that the amount has changed and Dean is hiding this, well that seems a bit ludicrous to me.
From 3/26/10 PR
"Our funding source confirmed to us in writing yesterday that the final hurdles to completion of our loan have been overcome and Quasar Aerospace Industries, Inc. will be fully funded within the next two to three weeks."
From 11/13/09 PR
"Dean Bradley, CEO of Quasar Aerospace Industries Inc. (PINKSHEETS: QASP) has been assured by their funding source that the entire $350,000,000 (350 million USD) will be closed and settled no later than December 15, 2009"
Having something in writing from the funding source about the money is much more convincing than just being assured by them. (At least to me)
Advice to newbies from a newbie..lol.
Only here in Quasarland!
Sit back, watch, and learn my friend.
You'll find out just what Dean has really been doing when the money hits. (Thats called advice to a newbie from a not-so-newbie)
You have got to be kidding me.
Had you had any conversations with "Mr. Bradley" you would know he goes by the name Dean.
Considering the beating the man takes on this thread its hilarious that you decide to take issue with me calling him Dean.
It cracks me up how people paint this picture of Dean sitting by his computer hitting the sell button all day long...lmao
I can't imagine Dean acquiring this if there wasn't a benefit for Quasar.
LMAO good find Tufan.
Posted by: boardrider Date: Friday, January 29, 2010 11:02:13 AM
"....this is a 3-6 month process with the city"
1-1/2 months into his 3-6 months window.
I guess he forgot about that post.....
I am curious as to why someone who is "at that Airport most every week" is asking Ihubbers questions about expansion project?
So whats your point, or is there one? You just agreed with mine and are still arguing.
"Cost savings go straight to bottom line profits.
Profit margins are the percentage of profits in regards to the the revenue generated verses the cost, thus the term "profit margin"
Net profit is the bottom line profits.
"Cost savings go straight to bottom line profits.
NEXT!
LMAO.
Let me simplify this for those without a clue or any idea of running a business.
Lets see, I can pay another company millions of dollars a year to provide maintenance on our planes or I can acquire a company that does this and keep the maintenance inhouse.
Still having trouble grasping this?
Lets say the maintenance company has an annual payroll of $500k. Lets say Quasar will have an annual expense of $1M in labor only to an outside company to maintain their planes. By buying the company and putting their staff on payroll there would be a cost savings of $500k.
Simple enough?
Cost savings go straight to bottom line profits.
Smart business move by Quasar.
Cost center..lmao
Only if they are not charging for their work.
Reality is this puts a maintenance company in the fold to "control" expenses.
Reality is also that we are still up for the day as well.
Some people will always see the cup half empty (even while they see it overflowing)
As opposed to paying someone else to maintain your planes?
Get serious. I doubt it was acquired to generate profits but rather to keep their maintenance in house and to "save" money.
I have no idea but see this as a very important piece of the conglomerate puzzle.
Are you serious?
Sounds like you don't like the opportunity here.
Guys with mops and wrenches, you crack me up. I guess you don't think aviation conglomerates need maintenance facilities.
Some people are just never satisfied.
The reasons for not disclosing the names of acquisitions 1 & 2 have been discussed repeatedly here.
More news
JACKSONVILLE, FL--(Marketwire - 03/19/10) - Quasar Aerospace Industries, Inc. (Pinksheets:QASP - News) --
Dean Bradley, the CEO of Quasar Aerospace Industries, Inc. announces the acquisition of Corporate Air Repair, Inc. This deal will add a top of the line maintenance capability to our growing fleet of aircraft for both Atlantic Aviation and our other corporate aircraft.
Corporate Air Repair is the Southeast's premier location for King Air phase inspections and pilot recurrent training.
Corporate Air Repair offers complete general aviation maintenance, annuals, 100 hour and pre-purchase inspections, as well as antique aircraft restorations, and multi-engine and ATP instruction.
Corporate Air Repair is operated by highly qualified technicians with decades of experience, having airframe and power plant certificates with FAA inspection authorization. The staff is both knowledgeable and aviation enthusiasts. Corporate Air Repair takes extreme pride in their craft and stand behind their work.
Corporate Air Repair's prior owner is Kenneth Oddy, an aviation icon with over four decades of pilot and mechanical experience. Mr. Oddy has agreed to stay on and manage the facility for at least a year and possibly longer. Ken has been providing maintenance services based at Herlong Airport for over 15 years. A retired airline captain, Ken flies and repairs a legendary variety of aircraft. He currently holds several FAA licenses including Commercial Pilot's license, ATP, CFII, MEI (land and seaplane), A & P Mechanic, and IA. He has logged approximately twenty five thousand hours as a pilot.
Joshua Henderson, President and Chief Operating Officer of Atlantic Aviation, Inc., states that this is a major step forward in building a fully integrated pilot training academy here at Herlong Airport.