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Quasar Aerospace Industries, Inc. (QASP) Announces Major Reduction In Authorized Shares

|Includes: Quasar Aerospace Industries, Inc. (QASP)

Quasar Aerospace Industries just announced that after a meeting of the majority of shareholders and the Board of Directors, the company has reduced the total number of shares authorized to four hundred and seventy-five million (475,000,000).

According to the press release issued this morning, Quasar Aerospace felt that the share reduction was prudent at this time. The company stated that it will continue to look to align its share structure and capitalization more appropriately; including the conversion terms of the preferred shares.

Quasar Aerospace also reminded the investment company of its announced conference call scheduled for Wednesday May 16, 2012, at 2:30 p.m. EDT. Those interested in participating should dial +1 (712) 432-0900, then enter the participant access code, 497592#, when prompted. Participants are encouraged to access the call at least five minutes before it is to begin. A playback of the call will be available later at +1 (712) 432-0990.

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