Replies to post #164865 on Green Energy Enterprises Inc. (GYOG)

[gattes12]

It is interesting that QASP has completely "overhauled" the S/S to accommodate the lenders $350,000,000 funding requirement & maxed out A/S to new limits... if I was Dean I would SUE the lender if I didn't get the loan after all the S/S hoops the lender required of QASP... THAT was damage (if $350M doesnt come)

This is where share holder could stick him as well.

Dean Bradley, the CEO of Quasar Aerospace Industries, Inc. hereby informs the public that the Board of Directors of the corporation has approved unanimously a resolution increasing the number of Authorized Shares (A/S) of common stock from 750,000,000 to 1,500,000,000. The officers have filed Amended and Restated Articles of Incorporation with the Secretary of State for Colorado effecting this change.

The reason for this change is that the terms of the funding of the balance of our $350,000,000 financing requires us to issue Class B non-voting shares equal to forty percent of the total outstanding common stock to the lender.

That was in Feburary.

JACKSONVILLE, FL -- (Marketwire) -- 11/13/09 -- Dean Bradley, CEO of Quasar Aerospace Industries Inc. (PINKSHEETS: QASP) has been assured by their funding source that the entire $350,000,000 (350 million USD) will be closed and settled no later than December 15, 2009 and will start closing the 4 acquisitions immediately thereafter

That was in November. If this didn't happen, why another PR in Feburary talking about it?

Then again

The bonds, which are secured by $1.4 billion of life settlement policies on individuals over 72 years of age, bear interest at 6.5% with a ten-year term. Under the terms negotiated, interest does not begin accruing until the end of the third year. Additionally, no principal payments become due until the end of the tenth year. Upon maturity of the loan Quasar has three options for repayment: (1) an issuance of the Company's common stock equal to approximately 9% of the common stock outstanding as payment in full of the principal, (2) extend the loan for two successive five years terms, or (3) pay off the principal and any accrued and unpaid interest

So if the principal wasn't to come due in ten years why the issuance of shares right away? Also since the deal fell through why have the shares still been issued?

Yeah, I would love to see them in court. People, this particular issue IS fraud.