Dear Shareholders and Friends of ILST, I wanted to provide you with a corporate update.
We continue to aggressively solicit interest in filling out the 506C and have numerous parties actively seeking investors on a success based Finder’s Fee basis. As we reach certain milestones in funding, updates will be provided. The terms on the proposal, as summarize on our website (http://www.ilstholdings.com/investors/private-placement/81-content/investors/142-prospectus-summary.html) are very attractive and compelling, not only for investors, but for shareholders.
Year End Financials:
The 2015 Annual Financials will be completed by mid-next week. The financials will be posted on the Company’s website. Management has made the decision not to renew the Company’s OTCMarkets subscription strictly due to cost, $2,600 ($2,100 6 month subscription plus $500 activation fee). In addition, to receive OTCMarkets Pink Current designation, the Company’s SEC counsel is required to submit a Current Opinion Letter (cost of $750). Total cost to remain Pink Current is $3,350.
While this step is not taken lightly, the reality is that given the severely depressed share price, dilution, if possible, would have to occur equal to approximately 67 million shares. Management has determined that the benefit of not diluting outweighs being Pink Current.
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