QASP in- Quasar Aerospace Industries, Inc. CEO Dean Bradley Advising Shareholders of Personal Purchases of Quasar Aerospace Stock
2009-10-28 14:38 ET - News Release
JACKSONVILLE, FL -- (MARKET WIRE) -- 10/28/09
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) -- Dean Bradley, the CEO of Quasar Aerospace Industries, Inc. has notified the company that he has to date purchased 2,000,000 shares of the company's common stock on the open market. To date he has invested $41,110.52, and intends to continue buying up to $50,000 worth. Mr. Bradley's account is with Deutsche Bank Securities, and the bank's compliance department required the company to suspend its share buy back until Mr. Bradley completed his personal purchases. Mr. Bradley must comply with SEC Rule 10b-18 with these purchases and his shares become restricted under Rule 144.
Immediately upon Mr. Bradley completing his personal purchases, the company will resume its buy back program, and the Board of Directors has authorized the officers to repurchase up to 20% of the total outstanding shares. To date the company has repurchased 15,489,300 shares and invested $317,821.92 in the endeavor.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.
