JACKSONVILLE, FL / ACCESSWIRE / November 12, 2015 / Green Energy Enterprises, Inc. fka Quasar Aerospace Industries, Inc. (OTC Pink: QASPD) (QASP) ("Green Energy" or "the Company")
Quasar Aerospace Industries, Inc. would like to announce that effective October 30, 2015 it has changed its name to Green Energy Enterprises, Inc. to coincide with its new and expanding launch into the legal and medical marijuana industry. This change comes at a defining moment within our Company's history as it looks to continue to grow and become a nationwide leader in this industry. It shall reflect the new start for a Company on the path to success. We are moving forward and as we have added new operations, as subsidiaries which are not in the aerospace market our new name will provide to be a better suited name to incorporate all areas of the Company. We continue to retain our aviation operations and those will continue to grow and develop as well as our hydroponic grow store and e-commerce site as well as new programs and business opportunities in all areas of our operations.
As Green Energy has settled and renegotiated new terms on debt liabilities with are largest creditors. We are heading in a new direction and trying to move beyond the past. This includes reducing the dilutive effects of the convertible notes significantly. The reduction in the Company's liabilities associated with notes will represent approximately $240,000.00 which is over a 50% reduction in comparison to the outstanding principal. In order to remain in legal compliance with our creditors and preferred shareholders we had to conduct a 1000 to 1 reverse stock split effective October 30, 2015. We tried our best to not have to resort to a reverse stock split but it became a necessity as the Company would be in default with creditors and preferred shareholders without this occurring. In addition, Green Energy is in negotiations with numerous parties and business on new business ventures and in order for those deals to proceed a capital restructuring was required.
The common stock will continue to be reported on OTC Pink market under ticker symbol QASPD for 20 trading days following the effective date of the stock split. We will have a new ticker symbol effective November 30, 2015 which will be announced. As a result of the reverse stock split the Company's outstanding common stock is 5,705,688 post-split. The common stock has a new CUSIP number.
We are extremely excited to move forward and finalize opportunities we have been working on which will generate great value to the company and its shareholders. We will continue to give update as event unfold we are ready to hit the ground running and allow Green Energy to fully realize its full potential.
Please feel free to contact Green Energy by email at GreenEnergy.Enterprises@yahoo.com for information or investment opportunities. Green Energy will continue to update our shareholders and the investment community as progress and details are ready to be released.
Green Energy owns a hydroponic grow store in Colorado and is a service provider to the legal and medical marijuana industry. Visit our Ecommerce site (www.GYOGz.com). Green Energy and its subsidiaries are also involved in aviation and aviation related businesses. We are SEVIS/SEVP certified to provide training to foreign students. We use the certified Cessna Pilot Training curriculum for our flight students (http://www.cessna.com/learn-to-fly.html). Through our subsidiaries we are an FAA Part 141 flight school (www.faa.gov), Computer Assisted Testing Service (CATS) (http://www.catstest.com) and a Comira testing facility (http://www.comiratesting.com). We offer flight training, sight-seeing tours and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Atlantic Aviation, Inc. is a recipient of an AOPA Excellence Award for 2012 and recognized as one of the top 50 flight school in the country. (http://flighttraining.aopa.org/awardwinners/2012winners.html).
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Contact: Green Energy Enterprises, Inc.
Telephone: (904) 207-6503 or (904) 207-6502
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 Quasar Aerospace Industries, Inc. under take no obligation to update such statements.
SOURCE: Green Energy Enterprises, Inc.