Breaking News: Quasar Aerospace Industries, Inc. (QASP) – Quasar Aerospace Industries, Inc. Announces a Joint Venture to Develop a New Generation of Aircraft Engine


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Breaking
News: Quasar Aerospace Industries, Inc. (QASP)

Quasar Aerospace Industries, Inc. Announces a Joint Venture to Develop
a New Generation of Aircraft Engine

  • Press Release
  • Source: Quasar Aerospace Industries, Inc.

JACKSONVILLE, FL–(Marketwire – 11/24/09) – Quasar Aerospace
Industries, Inc. (Pinksheets: href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=864&F=H">QASP
- href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=865&F=H">News)

Dean Bradley, Quasar’s CEO, is pleased to announce entering into a
joint venture to develop a new aircraft engine utilizing cool burning high
efficiency engine technology developed and tested in the high performance
auto racing venue. We believe we will be able to manufacture a lighter
weight engine that produces greater horsepower and achieves improved fuel
consumption over any engine available on the market today. Quasar has
already begun funding the development of the program and is very encouraged
with our progress.

James Ray, the president of Quasar Aircraft Corporation will manage the
development project with our aeronautical engineers and the engineers from
the engine company.

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.

 

 

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Quasar Aerospace Industries, Inc.

Quasar Aerospace Industries, Inc. (OTC: QASP) is an integrated
aviation/aerospace corporation created to pursue an
innovative and highly synergistic business strategy
in the aerospace industry.

Quasar Aerospace Industries, Inc., formerly Equus Resources,
Inc., is the holding company for a group of aviation related
entities that through their union strengthens the
Company making it more efficient and profitable.
Quasar is committed to the retention of the
individual corporate cultures of their wholly owned
subsidiaries while reaping the synergistic benefit
of their combined union. src="http://i.stockguru.com/QASP/QuasarAirCraftSmall.jpg" height="80"
width="200" />

The units integrated in the first phase of Quasar Aerospace
Industries’ operations will either be wholly owned subsidiaries,
or QAI will hold a minimum 80% equity.

Subsidiaries
of QAI

  • Atlantic Aviation, Inc. (AAI) was created
    to develop and operate flight schools nationwide
  • Quasar Aircraft Company (QAC) is developing
    a four place trainer aircraft and intends to develop the
    Quasar I, a twin engine, six place very light jet aircraft
  • Quasar Development Corporation (QDC)
    will develop future aircraft designs
  • Quasar Financial Corporation (QFC)
    supports the aircraft sales process by arranging financing
    and insurance for customers
  • Aviation Import/Export, Inc. (AIE) is
    designed to import aircraft and aircraft components

width="356" />

Atlantic Aviation, Inc. operates a flight
school at Herlong Airport in Jacksonville, Florida. Atlantic
Aviation, particularly in its franchise phase, offers a
significant internal market for Quasar aircraft enabling
QAC to achieve profitability sooner than would have been
possible otherwise. It is anticipated that the initial
Jacksonville phase will provide early support for
the corporate bottom line.

  • Provides a ready-made market for a significant number
    of Quasar aircraft.
  • Enhances QAI’s credibility with the early development
    of a significant and profitable subsidiary.
  • Increases QAI’s visibility in the marketplace.

Atlantic Aviation Inc. was formed to respond to a critical
shortage of flight school capacity in Florida with meeting
the demand for training international students. Once the
initial school is operational, the goal is to market
this “School Concept” as a turn-key franchise
opportunity to aviation professionals around the
country.

Letter of Intent for Flight School Students: Atlantic
has signed a Letter of Intent with a group from India to
train foreign flight students. The Company has submitted
an application to the U. S. Secretary of State for
operational approval. When the program begins, the
Company plans to add ten students per month until it
is fully operational with 60 students in training at
all times at varying stages of training and a full
capacity of 80 students.

  • The flight training program runs for approximately six
    months, at a cost of $66,000 per student for the full
    program.
  • At full capacity it is anticipated the Jacksonville
    school could generate approximately ten million dollars
    in revenue with margins ranging from 38-45%.
  • The flight training program currently has eight students
    enrolled.

src="http://i.stockguru.com/QASP/jiasign.jpg" height="115" width="250"
/>

Atlantic Aviation Jacksonville Facility:

The Company has applied for
a long-term lease with the Jacksonville Aviation Authority
for a flight training facility.

The facility will have:

  • A 14,000 square foot maintenance hangar that will hold
    six aircraft
  • A 6,750 square foot administration and training building
  • Ramp parking for 25 aircraft

The Herlong Airport Project
agreements have been signed with the Project Manager/General
Contractor, the Civil Engineering firm and the
Architect.

Dakota & Company of Jacksonville
was selected as the general contractor. This firm has been
the developer and builder of several exceptional
airport projects. Mr. Fred Dewitt, the company
president, will oversee all engineering, design and
construction for the maintenance hangar, office
building and site development. Dakota and Company
has recently completed the Marco Airplane Hangar in
Jacksonville, Florida, pictured below. href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=360&F=H">www.dakotaandcompany.com.

 

href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=361&F=H"> href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=361&F=H">

The civil engineering company
selected for the project is Phillips Civil Engineering.
The architect the Company has chosen is Wharton Donaldson
who is the Architect of record for the Marco Airplane
Hangar and thus has a great working relationship
with Dakota and Company. href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=358&F=H">www.phillipscivil.com.

The project will be the first
truly Green development on any airport in the Jacksonville
area. Amongst the Green Building Initiatives will be
photovoltaic electric, radiant heating and a highly
insulated building.
class="alignnone" src="http://i.stockguru.com/QASP/jiagood.jpg"
height="203" width="480" />

width="356" />

height="192" width="480" />

Quasar Aircraft Company (QAC) is a Nevada
corporation owned by the current principals of QAI. QAI
will be responsible for the manufacture of the Very Light
Jet (VLJ) and a new advanced trainer aircraft. Quasar Aircraft
Company is developing a four seat trainer aircraft and
will be the developer of a twin engine, six seat
very light jet aircraft.

The new advanced training aircraft will have an immediate
market on certification by selling aircraft to it’s sister
corporation Atlantic Aviation, Inc. Jim Ray will lead
this development team, and after extensive research
feels confident that he will have a technically
advanced, economically operating two seat aircraft
certified within 18 months of the beginning of
development. The aircraft will use a certified Continental
power plant that only burns 5.5 gallons per hour. Quasar
Aircraft intends to explore the feasibility of developing
a four seater version of the aircraft.

width="356" />

Quasar Development Corporation (QDC) is
responsible for the development of the Quasar line of aircraft.
A highly talented team with a great breadth of managerial
and engineering experience is in place to direct
QDC’s operations. James Ray with the able
assistance of our blue ribbon advisory board will
direct the engineering required to complete Proof of
Concept (POC) aircraft. James Ray will serve as project
manager, and Herrald Jonkers will direct marketing.

Quasar Development Corporation is developing a two place
aircraft. An eight/ten place aircraft would be the next
development project, after that the four place craft will
be placed into development. Both of these aircraft will
outperform any other comparable aircraft currently on
the market with an approximate 40% fuel consumption
advantage.

The capstone of Quasar’s Development program will be the
development of the Quasar I, a Very Light Jet. The Quasar
I development project will require approximately $10 million
to complete the aircraft and advance it through First
Flight of the Proof of Concept aircraft. This
project is 85% completed, but will not begin until a
financial partner is brought on board.

The proposed Very Light Jet was initiated by an aviation
enthusiast from Germany who intended to build an all composite
twin engine, six place aircraft which evolved into a
conventional aircraft plan. Engineers and
manufacturers began work towards building the Proof
of Concept aircraft. Investments of close to $50 M
USD supported the projected. The Proof of Concept
was never fully developed and at the time they closed their
doors they had over 700 orders with $10K deposits in escrow.

width="356" />

href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=361&F=H">Quasar
Financial Corporation
(QFC) provides significant
assistance to the company’s sales force by
enabling them to offer “One Stop
Shopping” for the customers’ acquisition,
financing, and insurance needs. Quasar Financial should
also provide a small but steady positive cash flow.

This service corporation will facilitate aircraft financing
and insurance placement for the dealer network and aircraft
purchasers. It will not operate as a lender or carry any
insurance risk, but rather will serve as an
intermediary with major operators in these
fields.

width="356" />

Aviation Import-Export, Inc. (AIE) This
entity has been established to meet the financial protocols
of lenders, and to facilitate the transfer of funds among
the various relevant entities in the enterprise.

Acquisition
of Manufacturing Company for Aircraft

Quasar Aerospace Industries, Inc. executed a binding agreement
to acquire a manufacturing company that will provide
production capability for the Quasar line of
aircraft currently in development. For security
reasons the name of the company will not be divulged
until the acquisition is closed.

The acquisition is to be made with private funding at $54
M, of which $40 M will be in cash and the remainder in assumption
of liabilities. This acquisition when it closes is
anticipated to add approximately $44 M to the
Company’s revenue stream and $10 M in
EBITDA.

The company to be acquired has a vast range of capability
in the aerospace industry, and operates three plants totaling
approximately 300,000 square feet. The company owns two
of the plants equaling 190,000 square feet and leases
the third plant. The revenue and profit numbers are
achieved with less than 250 employees and an
excellent safety record.

Undisclosed
Purchase Agreement for Aviation/Aerospace Company

An agreement to acquire a third aviation/aerospace company
was signed in May of 2009. The full Board of Directors of
the company to be acquired unanimously approved recommending
to the shareholders that they accept the offer of
One Dollar per share for the 32 M shares
outstanding. The members of the Board hold over 80%
of the outstanding stock so shareholder approval is
certain to be obtained.

The acquisition will add approximately $18 M to the Company’s
annual revenue and $3.75 M to the bottom line. The
current management team will remain intact. Quasar’s
management team has been closely associated with
this company for over three years.

Business Plan

The company business model is based on two core principals:

(1) A phased approach to the development of individual
aircraft which will insure early profitability and minimize
financial risk through time, and

(2) The development of an integrated network of companies
whose synergies will enhance profitability throughout the
company.

Phase One

The first phase of QAI’s plan consists of the development
of the Quasar two seat training aircraft. The manufacture
of light propeller powered aircraft has lagged
significantly in the U.S. market for some years,
with the exception of “Kit Built”
planes.

There is a void in the market place for an affordable trainer
aircraft. Cessna no longer produces the 152, and the 172
is priced in excess of $200,000. Cessna has announced the
development of an LSA, to be built in China, which
they plan to begin delivering in late 2009. However,
with the recent crash of the prototype could delay
that program. Over 1,000 orders have been placed for
this aircraft. The Quasar trainer will be designed
to fill this void, and to provide a superior plane
that is safe, dependable, extremely cost efficient,
and supported by a nationwide maintenance and repair
capability.

Once the Quasar trainer is established in the marketplace,
the company will proceed to the development of four and
ten place aircraft. The four place aircraft will begin flight
tests in late 2009. This aircraft will be certified
by the FAA. Company designers will work closely with
the company’s Advisory Board (Described below)
in a coordinated process to insure that the final
design is approved. Since the U.S. is the largest
market in the world it is paramount to obtain FAA
certification at the earliest possible date. The phased
approach is designed for a cash positive approach with substantial
revenues from inception.

Research indicates that market for this category of aircraft
is large, and that the market appears to be far greater
than the productive capacity of the manufacturers currently
in the business. Other then the projected Cessna
entry, there are a few European built planes that
our aircraft should be able to compete against
effectively.

Phase Two

Once the Quasar line is established the Company intends
to:

  1. Continue to carve a substantial niche in the affordable
    light plane market,
  2. Become a major player in the manufacture of aircraft/aerospace
    components for the aircraft industry, and
  3. Design, certify and build the best Very Light Jet aircraft
    available in the marketplace over the next five years.

The market for Very Light Jets also appears to be greater
than current productive capacity. With a production capacity
of 150 planes a year, a new customer would expect to wait
until 2022 to take delivery. Once the development
phase is completed the sales forecast for the Quasar
I is 20 aircraft in 2010 and 100 aircraft in
2011.

Chief
Executive Officer

Dean Bradley Director Chairman and Chief Executive Officer

Contact:

Dean Bradley
904-612-8485
href="mailto:deanbrad@bellsouth.net">deanbrad@bellsouth.net

Quasar Aerospace Industries, Inc.
9300 Normandy
Blvd.
Suite 511
Jacksonville, FL 32221
href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=474&L=359&F=H"
target="_blank">http://www.equusresources.com

Phone:
904-612-8485
Fax: 904-378-3252

This Profile 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.

 

 

 

 

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