QASP just released:
Quasar Aerospace Announces Progress for the Funding Required for Its Targeted Acquisitions
2010-06-14 09:23 ET - News Release
JACKSONVILLE, FL -- (MARKET WIRE) -- 06/14/10
The CEO of Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP), Dean Bradley, announces Newby & Associates, Inc. has received confirmation from the Trust company confirming their bank's outgoing swift of a $125mm standby letter of credit to the Trust Company's Bank. Once the Lending Bank has confirmed the BANK TO BANK swift transfer from the Trust's Bank, funds will be received by Newby & Associates, Inc. for lending to QASP within 72 hours. This first and larger swift amount of $125mm from the Trust Company's Bank occurred 3 days ahead of schedule. The expediting of the two simultaneous loan closings totaling $110mm is attributed to Newby & Associates, Inc.'s firm understanding of Quasar's time constraints regarding the first round of targeted acquisitions.
The CEO will be visiting all of the targeted acquisitions this week completing the documentation for these acquisitions in order for them to close before the end of this month. The Quasar Aerospace Team is understandably excited with this progress which will help the company continue to execute its business plan, thereby enhancing share price.
