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Quasar Aerospace Industries, Inc. Announces the Start of Its Stock Buy Back Plan and the Acquisition of Its First Twin Engine Trainer for Atlantic Aviation

Last Tuesday Quasar Held a Critical Meeting Regarding Two of Its Acquisition Candidates and Completed a Definitive Acquisition Agreement

JACKSONVILLE, FL–(Marketwire – 09/28/09) – Quasar Aerospace Industries, Inc. (Pinksheets:QASP – News) is pleased to announce the start of our previously announced Stock Buy Back Plan on Monday, September 28, 2009. The company was delayed for a few days because our primary bank could not open a securities trading account for Quasar in a timely basis. Fortunately Deutsche Bank in San Francisco and NYC came to our rescue. We received final approval on Thursday afternoon and will be starting today.

On Tuesday of last week a critical meeting was held regarding our recently announced acquisitions. Quasar Aerospace Industries CEO, Dean Bradley, and Senior Vice President for Administration, Lisa Betros, were in Kansas with the executives for two of our acquisitions along with the legal teams for those companies. Also attending were attorneys for Quasar coming in from Seattle and Philadelphia. In this series of meetings we were able to complete the Definitive Acquisition Agreements, the employment contracts for key employees, and the incentive plans for the employees of the subsidiaries. Also discussed was a new opportunity that will potentially become part of Quasar Aerospace Industries.

On Monday, September 21, 2009 executives from our wholly owned subsidiary, Atlantic Aviation, took delivery of a pristine Piper Seminole for $89,000, which is an excellent twin engine trainer. Atlantic Aviation President and Chief Flight Instructor, Joshua Henderson, and Atlantic Aviation’s Director of Aircraft Maintenance, Raymond Frez, raved about the plane after their cross country flight with the aircraft. In the present economic environment now is an ideal time to be adding to the fleet.

We have been asked what Redbird simulator we purchased and installed at the Herlong Airport, it is their FMX Model. We are pleased to announce that we purchased this top of the line unit for $80,000. We are so pleased with it that we have now ordered a second identical unit.

The company is on track to execute our business plan. The management team is working diligently to complete the first four acquisitions, and will then proceed on two more acquisitions shortly thereafter.

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 Equus Resources, Inc. and Quasar Aerospace Industries, Inc. under take no obligation to update such statements

Our Due Dilligence Play QASP is doing great.  Amazing volume all week with Buyback news announced.  The bulls ran the show going into the weekend.  13 Million shares were traded and Quasar Aeorspace closed up 17% for the day and 50% for the week.  The buyback is expected to happen very shortly and when we do I expect the price per share to fix itself. This company is extremely undervalued and will be one good runner.

Here are the latest 3 news articles from QASP.  The buyback news is excellent as well as the Flight Simulator addition to the flight school. If you read the press release for the flight

“Quasar Aerospace Industries, Inc. (OTC Pink Sheets: QASP – News; formerly) Equus Resources, Inc. (EQUR), announces the beginning of a the share buy-back program. The two major banks that the company does business with are setting up brokerage accounts to facilitate this program, which should begin early next week.”

They also anticpate to buyback anywhere from 10-20% of the common stock and retire it to the treasury!

• Quasar Aerospace Industries, Inc. Announces Start of Share Buy-Back ProgramPR Newswire(Wed, Sep 16)

Quasar Aerospace Industries, Inc. (Pinksheets:QASP – News) (formerly) Equus Resources, Inc. (EQUR), announced that Atlantic Aviation has just completed the installation of a state of the art flight simulator. Joshua Henderson, President and Chief Flight Instructor for Atlantic, states that this major addition will greatly enhance our flight training operations, and facilitate the expansion of our flight training business.

Look here! They didnt say they are planning or will buy a flight simulator. QASP says they installed the flight simulator! This is huge.

• Quasar Aerospace Industries, Inc. Announces Major Addition to Flight SchoolMarketwire(Wed, Sep 9)

JACKSONVILLE, FL–(Marketwire – 08/26/09) – In the news release, “Quasar Aerospace Industries, Inc. Gives a Comprehensive Update to Investors,” issued earlier today by Quasar Aerospace Industries, Inc. (Pinksheets:QASP – News), we are advised by the company that the first sentence of the fifth paragraph should read “These first four acquisitions of these well established aviation and aerospace related businesses will add an estimated $150 million to Quasar’s revenue and $33 million in EBITDA for the Company’s fiscal year 2010.” rather than “These first four acquisitions of these well established aviation and aerospace related businesses will add an estimated $150 million to Quasar’s revenue and $15 million in EBITDA for the Company’s fiscal year 2010.” as originally issued. Complete corrected text follows.

Look at the incredible numbers QASP is saying they will have. The first four aquisitions alone are going to add 150M to their books!  33M most likely will be profit but still! QASP has huge numbers!

• / CORRECTION – Quasar Aerospace Industries, Inc. Gives a Comprehensive Update to InvestorsMarketwire(Wed, Aug 26)

I am expecting Quasar Aerospace to have a great week. Especially after the bulls led the show on friday.  We will see where QASP opens up and we see if the bulls still got the horns.  In my opinion they definately will as the buyback should start any day next week.  The support levels will increase and QASP’s Low’s will get higher and higs will get higher.