This was my thought also. I would like to do some flipping to make a little money back, but Bankruptcy seems like the only "imminent" thing with this stock. I am not going to sell my shares, but I don't want to throw any more money at this thing. This has been a gamble for me from the begining and I've lost so far, but I only bet what I could afford to lose.

LOL you are right, it is a diferrent Jeff Landreth that is also associated with Gene Johnson and works in the aerospace field. Gene Johnson actually only associates with people named Jeff Landreth.

Here was a good previous response to this question:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53184326

I tell you this board is like therapy. I hate to say this, but I am only 3K into 1K, but I did get about 6 friends involved with the knowledge that it was a complete gamble. Hate it for my friends more than I hate it for me. I have lost 2k at a craps table before I just wish I wouldn't have involved the friends. All total probably only about 10K invested and we are all down about 75%, it hurts, but not nearly as bad as the folks that have been here since 2009 or further.

That said I am still optimistic. I think once things get shaken-out we have a chance to get back to .01, it is just going to take time. Thankfully I have a job so I have nothing but time. No reason for me to throw the towel in now.

Question: A previous PR said that Dean would update us on the 4 acquisitions that closed "last week" (that was over a week ago). That said, if there are three other acquisition closings, don't reporting requirements mandate that they provide information on material events? A closing of an acquisition would be a material event. Not saying they owe a name, but they would at least have to confirm closings. Do the reporting requirements apply here?

Response from IR

Here are the responses(in red) that I received on a couple of the questions.

1. When will we receive audited financials that were promised with multiple missed dates? (if the missed dates are due to the auditing firm, then they should be fired)
1)The audited financial s should be released very soon. I cannot give a date .I have been told that the dates released have been given to Mr Bradley by the firm doing the audit.

3. Will shareholder ballots be sent automatically for voting or will I need to do something to receive my ballot? Looking forward to some good news.

3)It is my understanding that the ballots will be sent out automatically with all of the information in the packet.If you would like more information on the ballot, feel free to call home office and they will be glad to help you.

IR Responses were appreciated. They ended with " wish I had more information for you .I know that you and many other investors are very frustrated with the current situation ." which I have to respect because I am sure they are getting pounded.

Message to IR sent in frustration. If they're out I am sure I won't get a response, but just had to send something.

RE: Information Update

I have avoided filling up the IR mailbox for a long time. I know that you guys need time to do your work, but at this point the information release by the company has become embarrassing. As a shareholder, I believe Dean and company have my best interests in mind, but the failure to deliver one shred of positive, verifiable information on time is shocking. Couple of questions:

1. When will we receive audited financials that were promised with multiple missed dates? (if the missed dates are due to the auditing firm, then they should be fired)

2. When will we have a release of the information on our acquisitions that were stated as "closed" last week? (PR last week confirmed closed and now we hear nothing? Shareholders are trying to defend the company and we have no ammo. Poor PR work is definitely damaging shareholder value.)

3. Will shareholder ballots be sent automatically for voting or will I need to do something to receive my ballot?

Looking forward to some good news.

Thank You.
Brennan Stanfield

Over 2mil of that traded in the first two hours so that makes like 300k for the rest of the day.

Private information website was odd to me to. Great idea, but I am not sure how that is legal or helps. Will the only way to spread news about QASP become word of mouth?

Say what you will about Dean, but he believes in this thing and is putting his money where his mouth is. If it all doesn't happen, well that is business, but you can't say that a guy who puts that kind of money on the line is scamming people. That would be the worst scam ever.

I am in and with you Dean. Keep up the good work and see this thing through.

The company has been using the O/S to keep operations going. It could be possible to get the 1.7m for the loan, but at the end of the day an A/S will likely happen to maintain operations. If they had other sources for operational money why would they have used up the O/S as the did?

Problem is we have funded that demostration but we don't own a thing. So if the demonstration goes great and Mineseeker Ops gets a contract I am sure they'll thank us and might even give us back what we've put in for the demo, but we still own nothing and get none of those profits.

This board makes me realize why startup companies don't want to take on shareholders. Shareholders are skiddish and want instant results. They make short term decisions based on long term plans that they don't know full details of and want day to day updates that would put the company at a severe disadvantage. Shareholders are a burden. Period.

Startups are a crap shoot and I am just happy to be at the table. I only get to throw the dice once a rotation, but Dean is the lucky lady at the end of the table that has been rolling for 30 minutes (wearing the hell out of a Red Dress in the process). I've been parlaying my winnings and all my money to play tonight is stacked up all around the table. Buttons on 5. "No 7s No 7s." Here we go. Dice are out.

I am with you. This better be the one last shake for a while. It is hard to watch, but holding strong.

Has CSTI moved off of the .0097s all morning? I'd like to see them come up and get some to show some strength. I believe the European interest will be key for the initial move.

What are the final two conditions? Any speculation?

Volume still extremely low. We are just hanging around waiting. I actually like the radio silence that we are getting. Hopefully we are giving the company the chance to purchase as many shares as possible for as little as possible.

Ok, got it. He really slipped it in there. Sounds like he was just as frustrated with the delays as everyone else. Thanks for clarifying all.

Do we know if Dean made it back to FL or is he still on the road?

I didn't hear it either. I believe he said "we are well funded", but I didn't hear the word "finally".

Love the ETMM ask at 100.05, somebody hit the ask!

I don't understand all the worry from multiple people today about CC and video not being available.

1st: the week is not over.

2nd: Dean said in last CC that he would try to send a video from the road to be posted this week, but that wasn't a day or a guarantee.

3rd: Understanding the past website upload issues, if he was able to get a video sent from the road I wouldn't expect to see it instantly (i.e. if he sends the video Today, I would expect on Website by Monday)

I hear decaf is all the rage these days. Try some.

I am new to the L2 world, but I haven't seen a gap stay open this long like it has this morning. Is that relevant in any way?

Branson on Morning Joe in a couple minutes. I am sure it will be about the oil spill, but would pay for a Mineseeker/QASP mention.

Just picked up 62k more at 14. They are locked up. Now holding 265k tightly. I am a small fish, but I've got a tight grip.

This is hanging in better than I expected. I was happy with Dean's honesty yesterday, but was not exactly happy with some of the answers (see audited financials date, buyback, funding). The clearity that he provided did help though and if we close these things by the end of June I will be giddy like a little girl.

Need Dean to give me a reason and the money to go to Florida to get my pilot's license. I'll take him out for beers!

Thanks for the advice. Just bought 25k more at .013. Trade went through HDSN.

Now we just need to see those shares get retired in a couple days and that will be very nice indeed.

My main question would be in regards to the auditors. I would like to hear a status and a possible timeframe for release of the audited financials.

It seems to me that the auditors were coming down and it was going to take them about 10 days, but that was a while back.

I thought the explanation was pretty good and fairly straight forward. Lenders will be loaning for acquisitions and securing loans against all other acquistions.

Cross collateralization:
http://en.wikipedia.org/wiki/Cross-collateralization

Who's desk is right next to the Flight Sim? Can't wait until we have the capital to put QASP in corporate offices, but for now I just hope Dean didn't draw the short straw and get that desk. LOL

I don't know a thing about charts, but great call.

I am with you WG. I have about 6-7 friends and family that invested once I told them about QASP and I have looked like a fool for a couple of months here, but redemption is a sweet thing. Hopefully now we can all ride the QASP wave.

Yes, best news out of this PR is that Quasar reported for Mineseeker meaning that they aren't cutting ties with us yet. Yesterdays PR had me worried. Just sounded like Mike Kendrick was pissed about the deluge of emails. This gives me hope that the deal is still on. Not only am I excited about the QASP possibilities, but I am excited globally for the mine clearing possibilities.

I am a holder so I believe that they are complete. I was just curious whether saying the acquisitions were complete was sufficient or whether there was a requirement to release the names. Thanks for the clarification.

Quick question on the 2 closed acquisitions point. How can the company continue to keep these secret. It seems like there are rules regarding disclosure of material events. If the two acquisitions were closed wouldn't they need to disclose that as a material event or do those rules not apply here? Thanks

Does anyone know when the article was written? It was posted today, but it looks like this was written back in April since they quote Dean refering to an April closing.

I sent them an email requesting information on why it is no longer available.

I read it as the "funding for closing Acquisition #3 is in our bank account". Unless acquisition #3 is not the parts then I think we have that funding. The key will be whether we have some open credit lines for the other acquisitions as some folks have suggested.

Lets say for a minute that we are able to sell these helicopter parts at 66% of book value. That would be about $100mil in revenue that would then payback our $15mil leaving 85mil to be divided. Of that we get 51% or over 43mil over the next 5-7 years. That gives us some positive cash flow and has to be a positive NPV project. I think this is a good starter deal. This isn't the big explosion deal, but it is a great project for a new company.

Just my thoughts, but I like the deal from a business point of view. Don't know how that translates to PPS, but it sets up the beginnings of a foundation.

Emerald, are you a piano tuner? I live in Seattle as well and my dad got wind of QASP from his Piano tuner who is also heavily into stocks.

I did some reading and then figured I was young so I can afford a little risk so I bought in, but it will be a great story if something big happens and it all started for me when my parents had their piano tuned up.