I submitted the following info - plus 2 questions - to the SEC today:
I am a shareholder of “ International Star, Inc “ - which trades on the Pink Sheets under the ticker symbol “ ILST “. ILST has 1.9 Billion O/S and is Pink Current. ILST is a shell company with no assets or debts and the CEO - Caren Currier - actively worked towards a merger of ILST with a private company.
On June 27, 2022 a “ Supplemental Disclosure for Change of Control Events “ was filed with the OTC Markets. It has a certification date of June 14, 2022. In the “ Supplemental Disclosure for Change of Control Events “ the CEO Caren Currier sold her Control Shares - which is 100% of the Preferred Series A Shares which represent 60% of the voting rights - for $ 305,000 to ILST HOLDCO, LLC.
Also - in the “ Supplemental Disclosure …… Events “ there is no disclosure of the name(s) of person(s) beneficially owning or controlling ILST HOLDCO, LLC. The CEO Caren Currier states on Page 1 as follows:
“. 2. The name(s) of person(s) who acquired control and person(s) from whom control was assumed. For corporations or other business entities, please provide the name(s) of person(s) beneficially owning or controlling such corporations or entities.2
ILST Holdco LLC acquired the subject control shares from Caren D. Currier, in a private transaction. “
ILST HOLDCO, LLC is registered in Delaware and appears to be a shell company that now owns the shell company ILST. Shareholders of ILST have zero information on who owns or controls ILST HOLDCO, LLC and there has been zero communication from any management of ILST HOLDCO, LLC to ILST shareholders.
Here are my questions: 1. Is it indeed a violation of Rule 13d-3 of the Exchange Act for the CEO of ILST - Caren Currier - to not disclose on the “ Supplemental Disclosure …………….Events “ form the name(s) of person(s) beneficially owning or controlling ILST HOLDCO, LLC ? 2. Is there a regulatory time limit in which ILST HOLDCO, LLC has to publicly disclose to ILST shareholders the name(s) of person(s) beneficially owning or controlling ILST HOLDCO, LLC ?
Thank you - and here is a link to the “ Supplemental Disclosure for Change of Control Events “ -