Ilustrato Pictures International Inc (ILUS)

[Willie1a]

Points of interest in quarterly filing:

1. No change in the public float. Hasn't changed at all this year. VERY GOOD NEWS !

2. Cede and Co aka GPL Ventures LLC appears to be holding 67M shares for somebody or something. I would love to know what that is about.

3. He has paid out earnest money in the amount of $3500. This is typically included in a real estate purchase agreement.

4. The asset line item of "Due from officer" for $141K is perplexing.

5. The $525K note payable does not reconcile to anything else in the report which leads me to wonder if he has already purchased something that we have not been made aware of yet.

6. The goodwill on the asset side of the balance is something I will want an explanation on.

Maddog once said...as long has he doesn't explode the share structure we should be OK. So far he doesn't appear to have done that.

Lets hope this starts to get interesting real fast

Good luck to all of us.
Willie