Replies to post #27906 on International Star Inc (ILST)

[Market Makers Exist]

It's in the financials. They purchased bonds exercisable at .005. I would imagine they want to sell much higher.

[BasedOnFeels]

Taken from the recent Q3 filing...

NOTE 6 – CONVERTIBLE NOTES PAYABLE
On August 10, 2022, the Company issued a Senior Secured Convertible Promissory Note to Leonite Fund I,
OTC Markets Group Inc.
OTC Pink Basic Disclosure Guidelines (v4.0 January 1, 2023)
Page 24 of 27
LP, in the principal amount of up to $625,000 payable in tranches. The loan bears interest at 12% per annum
and each tranche matures 12 months following the advance date. All payments due under the Note are
payable at maturity. The Note is convertible into common shares at the option of the holder at a fixed price
of $0.005 per share. The Note has both conversion price protection and anti-dilution protection provisions.
The Note is secured by all of the assets of the Company. During the second and third quarters , the Company
received an additional $400,000 in drawdowns from Leonite, net of discount. As of September 30, 2023, all
note discount had been expensed to interest charges and the Convertible Note Balance amounted to
$1,164,773.
As of September 30, 2023, the Company had accrued $101,381 in interest on the Leonite convertible notes.
As additional consideration under the terms of this Senior Secured Convertible Promissory Note, the
Company issued warrants to Leonite which are exercisable for 62,500,000 Common Shares of the
Company. These warrants are exercisable for 60 Months, contain full-ratchet anti-dilution protection
provisions, and have an exercise price of $0.005. Using Black Scholes methodology these warrants were
valued at $312,500 and immediately expensed as a financing cost during the year ended December 31,
2022.