Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of
Report (date of earliest event reported): August 15, 2006
International
Star, Inc.
(Exact
name of registrant as specified in its charter)
Nevada
(State
or
other jurisdiction of incorporation)
|
000-28861
|
|
86-0876846
|
|
(Commission
File Number)
|
|
(IRS
Employer Identification No.)
|
2405
Ping
Drive
Henderson,
NV 89074
(702)
897-5338
(Address
and telephone number of principal executive offices and place of
business)
Check
the
appropriate box below if the Form 8-K filing is intended to
simultaneously
satisfy the filing obligation of the registrant under any of the
following
provisions (see General Instruction A.2. below):
o
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the
Exchange
Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the
Exchange
Act (17 CFR 240.13e-4(c))
International
Star, Inc. (“we”, “us” or “our company”) files this report on Form 8-K to report
the following:
ITEM
4.02
On
August
15, 2006, Management of the Company advised the Company's Board of Directors
that it had made a determination that the Company needed to restate its
financial statements for the fiscal year ended December 31, 2005, and for the
fiscal quarter ended March 31, 2006, to correct an accounting error in the
recording of mineral exploration costs and additional paid in capital.
Management also discussed this matter with the Company's independent registered
public accounting firm, Madsen & Associates CPA’s, Inc. As a result, the
Board of Directors of the Company concurred with Management's conclusion that
the prior accounting of mineral exploration costs and additional paid in capital
was in error and will require a restatement of its financial statements for
fiscal year ended December 31, 2005 and for the fiscal quarter ended March
31,
2006. Accordingly, the Company has determined that its previously issued
financial statements for the fiscal year ended December 31, 2005 and for the
fiscal quarter ended March 31, 2006, should no longer be relied
upon.
The
Company anticipates filing the corrections to its financial statements in
conjunction with the filing of its Amended Form 10-KSB for the fiscal year
ended
December 31, 2005 and its Amended Form 10-QSB for the fiscal quarter ended
March
31, 2006 no later than August 18, 2006.
Management
is considering the effect of these restatements on its evaluation of disclosure
controls and procedures and internal controls over financial
reporting.
SIGNATURES:
Pursuant
to the requirement of the Securities Exchange Act of 1934 the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
International
Star, Inc.
By: /s/
Denny
Cashatt
Denny
Cashatt, President
Dated: August
17, 2006