October 1, 2007
Travelstar, Inc. NAICS 561510
95 Argonaut Street, First Floor Aliso Viejo, CA 92656 Description Travel Agency
(949) 837-8101 Employees 30
http://www.joystar.com/ Revenue (mil) 6.9320
  Income (mil) -10.6480
  Assets (mil) 5.2170
  Liability (mil) 10.3180
  (for the year ended 2006-12-31)
Category: Audit Concerns
Event: Mendoza Berger & Company LLP raised doubts on the ability of Travelstar, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company has sustained significant losses and has used capital raised through the issuance of stock and debt to fund activities.
Intellectual Property: The Company regards intellectual property rights, including patents, service marks, trademarks, domain names, copyrights, trade secrets and other intellectual property, as critical to its success. The Company relies heavily upon the software code, informational databases and other components that make up its travel planning service. The Company relies on a combination of laws and contractual obligations with employees, travelers, suppliers, affiliates and others to establish and protect trade secrets. [SEC Filing 10-KSB 04-26-07]
Description: The Company provides travel products and services to leisure travelers.
Officers: William Alverson (CEO, CFO & Dir.); Katherine West (EVP & Dir.); Sandra D'Arcy (COO); Jerry Galant (CFO); William Fawcett (Dir.)
Auditor: Mendoza Berger & Company LLP
Securities: Common Stock-Symbol TVLS.OB; OTC BB; 49,097,149 common shares outstanding as of June 30, 2007.
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