Wednesday, March 01, 2006 10:28:31 PM
http://www.sec.gov/Archives/edgar/data/1100747/000102317505000022/american10qsb.txt
The Company was incorporated on October 14, 1999 in the State of Nevada as Westnet Communications Group, Inc., for the purpose of developing a special interest worldwide web site. In March 2001, the Company acquired Merchant Park Communications, changed its name to Merchant Park Communications, Inc., and changed its business direction to that of the developing proprietary 2nd generation E-business software for licensing to end users and web hosting. In March 2002, the Company discontinued the development of the software due to lack of operating capital and assigned all software and assets to a subsidiary company in exchange for a royalty fee; in September 2004, the assignee abandoned the project due to lack of revenues. Also subsequent to this report, in July 2003, Mr. Peter Matousek resigned as President and CEO and was succeeded Mr. Francis R. Biscan, Jr. At this time the Company elected to pursue a new business direction and entered into an agreement with Armen Energy LLC, whereby it obtained an undivided 45% working interest by way of a "Farm Out Agreement" on acreage that will be held-by-production. In November 2003, the Company amended its Articles to reflect a name change to American Stellar Corporation. As of February 2005, three productive wells have been drilled with one additional well in the development stage. Exact flow rates and costs are not yet available.
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