QUASAR'S CORPORATE UPDATE JACKSONVILLE, FL- A
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Posted On: 08/08/2014 10:55:39 PM
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QUASAR'S CORPORATE UPDATE
JACKSONVILLE, FL- August 7, 2014 - Newswire - Quasar Aerospace Industries, Inc. (OTC Pink: QASP) (“Quasar” or “the Company”)
QUASAR’S CORPORATE UPDATE
Quasar Aerospace Industries, Inc. is pleased to provide the following update to its shareholders and investment community. Quasar is in the process of filing for a name change and plans to change its ticker symbol to coincide with its launch into the legal and medical marijuana industry. This change comes at a defining moment within our Company’s history as Quasar looks to become a nationwide leader this industry.
Quasar’s management was unfortunately faced with a decision to either conduct a reverse stock split or increase its authorized shares. The Company has elected not to do a reverse stock split but rather proceeded with increasing the authorized shares. Quasar has been faced with having to comply with note conversion on aged debt over a year old being submitted for share issuances. The Company is obligated to honor those valid notes and in doing so, it has caused Quasar to have to increase its authorized shares as a necessity. The Company has significantly decreased its debt liabilities with the processing of these note conversions. All share issuances are posted on OTC Markets in detail for the public to view and will continue to do so. Quasar has not participated in any private placements under Reg D since March of 2014.
Quasar is meeting with the Florida Cannabis Coalition to form a relationship to further our developments in Florida. It looks as though our expansion plan is on track and we should be hitting the Florida marketplace in the very near future. Further details related to this new development will be announced as events unfold.
Hydro-Grow Supply, Inc. is moving forward with its name change and this name will be released with the introduction of our new e-commerce website.
Additionally, Quasar will be providing additional details regarding its exclusive products lines and has been presented with an opportunity regarding the development of a new LED grow lighting system that is being created to hit the marketplace. This is exciting news and we look forward to this launch
This was very good news! the potential here is HUGE!
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