Thursday, July 17 2014 11:49 AM, EST Quasar Closes Acquisition of Hydroponic Grow Store MacReport Media "Press Releases" JACKSONVILLE, FL , United States , via eTeligis Inc., 07/17/2014 - - Quasar Aerospace Industries, Inc. (OTCPink: QASP) (Quasar or the Company)
Quasar Aerospace Industries, Inc. is thrilled to announce that itclosedon theacquisitionof Hydro-Grow Supply, Inc. on July 16 ,2014through its subsidiary, Green Energy Investments, Inc .At closing, Hydro-Growsfinal inventoryat cost was valued atOne Hundred, Sixty-Nine Thousand, Three Hundred,and Forty-Eight Dollars ( $169,348 )with an approximateretail exit value of Three Hundred, Twenty-Five Thousand, Seven Hundred,and Seventy-Eight Dollars ( $325,778 ).The assets of Hydro-Grow totaled approximately One Hundred and Ninety-Two Thousand, Seven Hundred,and Ninety-Seven Dollars ( $192,797 ).Hydro-Growcurrently services dispensaries, growers and the public andhasa loyal customer base. Hydro-Growsnew staff is driven to increase revenues and has been in contact with additional dispensaries and growers to obtain their contracts.
Quasar is proud to be a part of the growingbilliondollarhydroponic retail market. Hydroponics is amarket that is continually growing and will be expanding throughout the country and Quasar intends to expand with the marketnationwide.This is a milestone for Quasar and establishes the determination and dedication that Quasars management has to succeed in the legal and medical marijuana industry.This is the first step of Quasars plan and only the beginning of strides being made. News is hitting Florida about Quasar and Florida Times Union reached out to Quasars CEO, Donnell J. Vigil for an interview which can be accessed athttp://members.jacksonville.com/news/metro/2014-07-08/story/working-first-coast-quasar-aeronautics-landing-marijuana-support.
The store has a point of sale security systemimplementedwhich will allow Quasar to remotely view and control the store front.All products, equipment and supplies are being tracked by its respective UPC andprovidea convenient checkout method.Quasar has begun its revamping of the store frontto maximize the stores efficiencyand optimize its appearance. In addition, we have increased Hydro-Growsdays of operation and the store will now be open seven (7) days a week. We want to ensure that Hydro-Growisopen and available to the dispensaries, growers and the public every day.We are increasing and expanding the services being provided by the grow store to includeinstallation and repairs.
Quasar has been in discussions with grow supply distributors and is determining the best loyalty program for our initial and subsequent grow stores. Thistype ofpartnership with a grow supply distributor will provide great benefits to the grow store, including,but not limited to, industry support, training, store front displays andadditional discountson supplies, equipment and products.
Weare actively moving forwardwith our plans forcreating a nationalbrandand gettingour new website up and rolling.
Quasars CEO, DonnellJ.Vigil is still in Colorado and will be returning to Florida to finalize the selection of an auditor to proceed withuplisting. Our counsel is prepared to file a Form 10, once the audit it completed. Pleasefeel free to contact Quasar by telephone or email atdonnell@quasaraerospaceindustries.comfor information or investment opportunities.Quasarwill continue to update our shareholders and the investment community asprogress and details are ready to be released.
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.
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