$ILST

INTERNATIONAL STAR INC

CIK:0001100788|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended		94 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011
Total Revenue	$ 0	$ 0	$ 0	$ 0	$ 0
Mineral exploration costs	60,236	12,449	156,488	85,628	1,193,918
Professional fees	11,177	21,142	77,104	65,940	875,223
Compensation & management fees	10,500	10,500	31,500	87,500	1,586,201
Depreciation & amortization		70	168	212	15,408
General & administrative	1,441	5,068	4,064	10,247	525,288
Total Operating Expenses	83,354	49,229	269,324	249,527	4,196,038
Net (Loss) from Operations	(83,354)	(49,229)	(269,324)	(249,527)	(4,196,038)
Interest income					2,939
Other income					3,535
Interest expense	(34,250)	(19,393)	(97,000)	(57,336)	(315,747)
Other expense				(327)	(377)
Loss on disposal of assets					(20,531)
Loss on divestiture of subsidiary					(99,472)
Total Other Income (Expense)	(34,250)	(19,393)	(97,000)	(57,663)	(429,653)
Net (Loss)	$ (117,604)	$ (68,622)	$ (366,324)	$ (307,190)	$ (4,625,691)
Weighted Average Shares Common Stock Outstanding (Basic and Diluted) (in Shares)	294,512,274	282,012,274	289,188,200	282,012,274
Net Loss Per Common Share (Basic and Diluted) (in Dollars per share)	$ 0.00	$ 0.00	$ 0.00	$ 0.00

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Dec. 31, 2010
Cash	$ 42,883	$ 96,147
Total Current Assets	42,883	96,147
Property and Equipment – net of accumulated depreciation		168
Total Assets	42,883	96,315
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Accounts payable	309,823	344,340
Accrued expenses	39,303	38,894
Accrued interest on notes payable	222,200	146,950
Note payable – related party	200,000	200,000
Notes payable – Beaird loans (net of discount)	324,107	152,357
Advances from shareholder	200,000	200,000
Total Current Liabilities	1,295,433	1,082,541
Long term note payable – related party	500,000	500,000
Total Long Term Liabilities	500,000	500,000
Total Liabilities	1,795,433	1,582,541
Preferred Stock, 20,000,000 shares authorized, Undesignated par value – none issued	0	0
Common Stock 780,000,000 shares authorized, at $.001 par value; 294,512,274 and 282,012,274 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively	294,512	282,012
Capital in excess of par value	4,632,509	4,545,009
Deficit accumulated during the exploration stage	(6,679,571)	(6,313,247)
Total Stockholders’ Deficiency	(1,752,550)	(1,486,226)
Total Liabilities and Stockholders’ Deficiency	$ 42,883	$ 96,315