International Star Inc (OTC: ILST) is a mineral exploration stage company that holds mining claims and conducts geological exploration for gold, copper, molybdenum, and other minerals. The company has generated zero revenue since its exploration stage inception on January 1, 2004, through September 30, 2011, accumulating a net loss of $4,625,691 over that period. Operations are funded entirely through debt and equity issuances, with no path to revenue anticipated through at least Q4 2011, per the 10-Q filed November 14, 2011. As of September 30, 2011, the company held approximately 30 new lode claims in the Black Mountains Property, staked after reducing its prior holdings from 78 to 18 lode claims following 2010 drilling results. Total assets stood at $42,883 against a stockholders' deficiency position, with outstanding notes payable to Kilpatrick's Rose-Neath Funeral Homes ($200,000 at 18% per annum), Beaird Operating Companies ($200,000 at 12% per annum), and $200,000 in non-interest-bearing advances from the Chairman of the Board.

Revenue model

No revenue. The company is in the exploration stage and has recorded $0 in total revenue from inception (January 1, 2004) through September 30, 2011. Operations are financed through loans and equity issuances.

Products and services

Mineral exploration focused on gold as the primary target, with secondary focus on copper, molybdenum, and other minerals. Primary asset is the Black Mountains Property, comprising approximately 30 lode claims as of Q1 2011. Drilling, surface sampling, and geological mapping conducted at the Black Mountains Property in 2010, with assay work performed by Skyline lab (Tucson) and ALS Chemex Labs (Reno, Nevada).

Customers and end markets

No customers. The company has no commercial production and no sales of mineral or other products as of September 30, 2011.

Value-chain role

Early-stage mineral exploration. The company identifies, stakes, and drills mining claims but has not advanced to production or sale of any minerals. It sits at the upstream exploration end of the mining value chain.

Geographic exposure

Black Mountains Property mining claims, United States. Principal executive offices located at 1818 Marshall Street, Shreveport, LA 71101. Incorporated in Nevada.

Source: SEC 10-Q, filed 2011-11-14

Industry: Patent Owners & Lessors