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Qualstar Sets The Record Straight Regarding Steven Bronson's Experience And BKF's True Interests

Stocks in this article: QBAK

SIMI VALLEY, Calif., June 14, 2012 /PRNewswire/ -- Qualstar Corporation (Nasdaq: QBAK) today responded to the communications coming from BKF Capital Group, which is attempting to take complete control of Qualstar's board with industry outsiders, including Steven Bronson, BKF's controlling shareholder and CEO.

In support of their take-over attempt, BKF and Bronson are omitting material facts and making inaccurate and misleading statements that are critical for shareholders to consider in making an informed decision in this proxy contest. We believe that once you read the information below, you will conclude that BKF and Bronson should not be trusted with your vote or with Qualstar's future.

BKF'S CLAIM REGARDING MR. BRONSON'S EXPERIENCE AT MIKRON

Even though Bronson spent only 9 months as CEO of Mikron Infrared Inc., back in 1999, he claims credit for its successful sale that occurred 8 years later, because he allegedly "installed" the management team that sold Mikron in 2007. 

THE FACTS:  BKF failed to inform you that:

  • Bronson sued Mikron in May 2003 when Mikron was controlled by the very management team Bronson now takes credit for installing during his brief stint in 1999, and whose accomplishments he now claims are his own.  In response to Bronson's lawsuit, Mikron stated it did not believe Bronson's claims had any merit.
  • Bronson sold most of his investment in Mikron by 2004, years before Mikron's sale in 2007.

Thus, Bronson's taking credit for Mikron's sale, years after his involvement, based on the actions of a management team he had previously sued, is hard to swallow. 

BKF'S CLAIM REGARDING MR. BRONSON'S EXPERIENCE AT 4NET SOFTWARE AND RIDGEFIELD ACQUISITION CORP.

Bronson claims that when he acquired control of each of 4Net and Ridgefield, they were already shell companies.

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