Sent the following to the SEC
I am writing to the SEC in hopes that you start an investigation into QASP based on false and misleading PRs, incorrect fianicals released, Insider trading, and numerous other sec violations.
On Aug 4th QASP released the following in a PR "Our share repurchase program will allow us to return cash to our shareholders, while at the same time provide the flexibility to aggressively invest in the business for additional growth and differentiation, which we believe to be good for both our customers and our shareholders."
That sounds great but the company lead shareholders to believe they were going to buyback and retire shares only to find more that one month later they are giving the buyback shares to insiders. Giving shares to insiders has nothing to do with what they put in their PR. They releasing the PR in this fashion so they can dump more shares into the OS based misleading information at a higher PPS as a result of a higher demand for the shares based on misleading info.
In the Aug 26 PR QASP released the following false and misleading PR "The company does not anticipate a need or any reason to return to the capital markets for additional funding. We have been very successful in raising the funds needed thus far, and we are confident we can operate quite comfortably with the capital currently raised. This should give shareholders confidence in knowing that our share structure will likely not change for the foreseeable future. The world economic situation is unpredictable lately as we all know and things could change. That being said, we remain confident."
Since that time period they have diluted the OS over 50% and released PRs about 6 different acquisitions that will bring in over 150mil in revenue and a company buyback.....only to string along shareholders while dumping shares on a daily bases and artificially inflated prices based on false and misleading PRs. Dean said one thing in that PR and only a matter of days or weeks later the OS had major dulution. This is misleading and fraud
In the Oct 26 PR released by QASP it stated the following..."Dean Bradley, the CEO of Quasar Aerospace Industries, Inc. has notified the company of his intention to buy shares in the open market in his personal trading account. Mr. Bradley has expedited funding and orders to his broker to facilitate the transactions. He believes that the current market price of our shares is so totally undervalued that he has elected to begin purchasing these deflated shares for his own personal account."
The Ceo of QASP is buying shares because he totally believes the share price is undervalued(his words). But he is buying shares based on major insider information that shareholders don't have.
We don't know who 6 acquisitions are with or how they are paying or financing the deals.
We don't know who gave the company a 15mil bridge loan.
We don't know why the OS keeps going higher and higher after telling shareholders it wouldn't go up. CEO of QASP says the increase of OS is for a good reason but nobody knows why!!!!!!
AI
