NEWS ---------
Quasar International Holdings, Inc. (Formerly Quasar Aerospace
Industries, Inc.) Dean Bradley Steps Down as CEO/President of Quasar
International Holdings, Inc.
JACKSONVILLE, FL, Sep 24, 2010 (MARKETWIRE via COMTEX) -- Quasar International
Holdings, Inc. (PINKSHEETS: QASP): Dean Bradley has stepped down from all
corporate positions. Mr. Bradley has also resigned all positions of authority in
all Quasar subsidiaries. Mr. Bradley's 75% voting rights, by way of Series A
Preferred shares, will be placed in a trust fund to be managed and overseen by
attorney Daniel Vaughn, and Apex CEO, Jeff Landreth.
Quasar is very pleased to announce its new corporate structure. Jeff DiGenova
will be taking over the CEO and President positions effective immediately.
Joshua Henderson will be the new COO, and Tracy Rose will be filling the CS
position.
As an update to shareholders, Mr. DiGenova commented, "I know there have been a
lot of concerned shareholders: however, Quasar has a very workable business
plan, and one that I believe we can see to completion. I'm very glad to be in a
position that I can now help Quasar to achieve its objectives. I am receiving
daily updates on the status of our funding, and it looks promising at this
point. One thing I would like to assure our shareholders of is that, at this
time, there will be no changes in our authorized share structure, nor will there
be a reverse split. Any need to raise funds presently to get us to the finish
line must be done privately; it is evident that our shareholders have been
tapped hard enough."
Our headquarters will remain at Herlong Airport. Atlantic Aviation and Corporate
Air Repair will remain as integral parts of the business plan. However, we have
made the decision to rescind the acquisition agreement with CET. The rest of our
target acquisitions are completely committed to joining the Quasar family."
We would also like to clear the air on some misstatements in the last two PR's.
Jeff Landreth and Gene Johnson have never signed a consultation contract with
Dean Bradley and/or Quasar International Holdings. However, Jeff Landreth
stated, "We respect the current management team and the business plan, and upon
funding, we look forward to exploring all opportunities in the future."
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.
Contact:
Quasar International Holdings, Inc.
IR@quasaraerospace.net
SOURCE: Quasar Aerospace Industries, Inc.
CONTACT: mailto:IR@quasaraerospace.net
