HENDERSON, Nev., June 1, 2005 (PRIMEZONE) -- International Star, Inc. (Pink Sheets:ILST) announces that a Form 211 due diligence package was filed with the National Association of Securities Dealers ("NASD") on behalf of the company for the listing of ILST common stock on the OTCBB. Currently, the company's common stock trades on the National Quotation Bureau's "Electronic Pink Sheets." The anticipated OTCBB listing of the Company's stock is another step in increasing liquidity and value for our shareholders.
Following the completed filing of the previous two years' financial reports with the Securities and Exchange Commission, the company is now current with its corporate securities filings under the Securities Exchange Act of 1934, as amended. This current status is required to be eligible for listing on the OTCBB. To reach this goal, the company engaged Propalo Enterprises, Inc., a corporate regulatory advisory company, to prepare a Form 211 "Due Diligence Package" ("Form 211") which is a compilation of all information required pursuant to Rule 15c2-11.
After weeks of research into the background of the company, Propalo Enterprises, Inc. finished completion of the Form 211 and requisite applications. This Form 211 was filed with the NASD on May 24, 2005.
International Star, Inc. now awaits the findings of NASD on the content of the Form 211 and application. Should NASD find the Form 211 complete without question, ILST could again be trading on the OTCBB within a matter of days. Should NASD have further questions, the process might still take four to eight weeks.
NOTE: This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results to differ materially from forecasted results.
For further information contact Dottie Wommack McNeely 702-897-5338.
Propalo Enterprises, Inc. contact: Marcus A. Luna, Esq. mlunaesq@yahoo.com HTML: http://newsroom.eworldwire.com/wr/060105/12073.htm PDF: http://newsroom.eworldwire.com/pdf/060105/12073.pdf ONLINE NEWSROOM: http://newsroom.eworldwire.com/2147.htm LOGO: http://newsroom.eworldwire.com/2147.htm