Quasar Aerospace Industries, Inc. (OTC: QASP) up 20% on 1.7 million shares traded.
On Jul 21, 2009 Quasar Aerospace Industries, Inc. (formerly) Equus Resources, Inc. announced the retention of an accounting firm to oversee our accounting practices, securities agency compliance, tax planning, acquisitions accounting, and the consolidation of our financial reporting. The firm is The Griggs Group in Ponte Vedra, Florida. (www.TheGriggsGroup.com) The closing of our first three acquisitions is now scheduled for August 14, 2009. The addition of these companies to our group will add approximately $70 million in annual revenue with an EBITDA of about $15 million.
Chief Executive Officer, Dean Bradley, said, "This association will help facilitate a well controlled entry into the next evolution of our company."
Introduction to QAI's Vision: The units integrated in the first phase of QAI's operations will either be wholly owned subsidiaries, or QAI will hold a minimum 80% equity. These components are:
* Atlantic Aviation, Inc. (AAI) -- AAI is a wholly-owned subsidiary of QAI which operates a flight school at Herlong Airport in Jacksonville, Florida, and will develop and operate flight schools nationwide.
* A soon-to-be named company is a successful aircraft component manufacturer.
* Aviation Import/Export, Inc. (AIE) -- AIE was formed to import aircraft and/or aircraft components for sale, lease and use by QAI affiliates and for sale and/or lease to other companies.
* Quasar Aircraft Corporation (QAC) -- This company will develop the new products and oversee the development of the VLJ program.
* Quasar Financial Corporation (QFC) -- This entity will support the aircraft sales process by arranging financing and insurance for customers and the aircraft that will be required for AAI's flight school operations.
A second major phase of the corporation's development will be to identify and acquire small to medium sized business which will be complementary to QAI's strategic vision and conglomerate.
NXT Nutritionals Holdings, Inc. (OTCBB: NXTH) up 8.6% on 324,000 shares traded.