Wednesday, May 13, 2009 6:39:43 PM
Notice/Filing: http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=21065
LandStar, Inc. (LDSR) is a publicly traded company listed on the Pink Sheets (LDSR:PK) www.landstarcorp.com , with its China based subsidiary Hubei Chuguan Industry Co. Ltd. Being its primary operating division, http://www.chuguan100.com , and is posting this information as a filing on pink sheets to keep its shareholders advised of ongoing corporate developments.
The issuer has dispatched its North American accountant to China this week to meet with Hubei Chuguan management in Beijing in order to commence a review process in preparation of audited financial statements for the Corporation. This initial review is the first step in preparing the Corporation to undergo an audit of its financial statements in line with U.S. based Generally Accepted Accounting Principles (GAAP).
The Issuer will be reporting back upon the results of this initial review, and provide further updates on the extent of the work that will be undertaken and relating timeframes to be in a position to provide audited financial statements on an ongoing basis moving forward.
Audited financial statements would enable the Company to open up the possibility of moving up to the OTCBB venue at some point in the future.
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