March 15, 2012
On behalf of the Quasar Aerospace Industries, Inc. (the “Corporation”) we want to address numerous inquires we have received as to available remedies for common shareholders that were mislead by former management in respect to a purported swap of shares of the Corporation. It is our understanding that subsequent to the former CEO’s removal as an officer and director of the Corporation on January 27, 2011, the former CEO and representatives of him alleged an arbitrary cutoff date for said swap.
While the Corporation, its officers and directors were not part of these actions and efforts, we have become aware of them in small parts over the course of the last year. The Corporation has also seen the deleterious effects this has had on the Corporation, its shareholders, its stock price and relationships it has and had with various service providers, vendors and debtors of the Corporation. This includes the recent maneuvers by two former CEO’s in Court which led to a Court Order forcing a shareholder’s meeting. In spite of the Court’s directives the two former CEO’s are now failing to comply with said Order and have subsequently plead to the Court to reverse the Court ruling to no avail.
We do not have a definitive plan as we do not have all the facts in regards to stock swaps, cutoff date(s), private communications to some “select” shareholders regarding the buying and selling of the Corporation’s stock. It has come to our attention that these shareholders were told explicitly not to buy the stock after the record date and subsequently told to sell. The Corporation at this point would like to hear from you as a shareholder. Please supply the Corporation with specific information as to what harm you have suffered by what we will refer to as the “Stock Swap Group.”
Additionally, please provide the Corporation with details of shares held and what factors weighed in on your decision to buy or hold the stock in regards to directives or communications from the Stock Swap Group. When you bought the stock and average prices and if you have sold since then or currently hold. If you have any information that corroborates a claim you think you may have, please send it to the following: email@example.com.
Lastly, if you sent any money to the former CEO for legal bills or any other costs, we would appreciate those details as well. The Corporation will then determine what actions it can take on behalf of its shareholders or recommend an action that may be suitable to you.
Sincerely and on behalf of Quasar,
Joseph C. Canouse, CEO