In this paper we present the quasi-Gaussian entropy theory in a comprehensive and consistent way, introducing a new derivation of the theory very suited for applications to molecular systems, and addressing its use in the case of multi-phase systems. A general derivation of the possible confinement of the system within a part of phase space is given, and for water it is shown that for this a hard sphere excluded volume model can be used. To obtain the temperature dependence of the pressure, a new differential equation is derived, and besides the previously introduced Gaussian and Gamma states, in this paper we also describe a new statistical state, the Inverse Gaussian state. We discuss the properties of these different statistical states a...