Quasar Aerospace Industries, Inc. (OTCPK:QASP) entered into a letter of intent to acquire Holdings Aviation Corp. on January 22, 2013. Holdings Aviation Corp.

has combined revenues of approximately $22 million. Upon completion of the due diligence process the parties will enter into a definitive agreement and initiate an audit of each of the companies. The final agreement will include new appointments to the Board and Officers of Holdings Aviation as well as a name change.