Replies to post #249547 on STOCK GOODIES PLAYS OF THE WEEK

[fast.money]

$QASP News from Saturday ~ Quasar Series A Preferred Shares to Be Amended
Date : 06/14/2012 @ 11:06AM

Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) is pleased to announce that in a meeting of the majority of Series A Preferred shareholders, a motion to amend the certificate of designation was approved. The Series A Preferred shares will be amended so that a majority of the Series A Preferred shareholders will represent a voting majority, but the economic value of each share will convert at one hundred dollars per share ($100.00) and accrue an interest rate of twelve percent (12%) starting on July 1, 2012, until converted.

The prior conversion feature has been a source of concern for current and potential investors as well as an open deficiency in our capital structure. Prior to this action the common shareholders represented only one seventh of the company after the full conversion of the Series A Preferred shares.

As a result of this the Corporation will look to further reduce its authorized shares in the near future. As of today there are no changes in the common share structure. Quasar will continue to update our shareholders and the investment community as events unfold.