Posted by jeffdigenova at 6:09 pm, March 14th 2011.
Update to Shareholders
PREFERREDS
I have received many inquiries about the recent posting of Joe Canouse (joecanouse @ ihub). Seems he and some of the posters used previously to "promote" the stock are working to discredit info that has been previously released. The following is backed by the corporate minutes, and board resolution. I have all the emails from Computershare saved also.
Joshua Henderson and I had a board meeting on October 22nd that created a Preferred A series of stock(the only legally created series of Preferred A's to date, backed by the records of the company now in the possession of appropriate officials). Unlike the previously attempted A's that had ridiculous conversion to commons, the series we proposed were pari passu, meaning they exchanged 1 for 1. We did this move to allow me to secure voting control so we wouldn't end up with a mess like we currently have. Previously, Quasar had not set up the TA to handle any series of Preferreds and had chosen to do it in house. We felt that only a TA should handle stock of the company, both commons and Preferreds. When Computershare was contacted, they came back and stated they could not issue any shares to Quasar International Holdings, Inc. as those shares would be invalid because the name had never legally been changed( as has been pointed out several times on this blog).
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