Attached files
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EX-31.1 - EXHIBIT 31.1 - Stalar 3 Inc. | c11769exv31w1.htm |
EX-31.2 - EXHIBIT 31.2 - Stalar 3 Inc. | c11769exv31w2.htm |
EX-32.2 - EXHIBIT 32.2 - Stalar 3 Inc. | c11769exv32w2.htm |
EX-32.1 - EXHIBIT 32.1 - Stalar 3 Inc. | c11769exv32w1.htm |
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K/A
(Amendment No. 1)
þ | Annual Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 |
For the fiscal year ended September 30, 2010
Or
o | Transitional Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 |
000-52973
Commission file number
Commission file number
Stalar 3, Inc.
(Name of Small Business Issuer in its charter)
Delaware | 26-1402659 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification No.) | |
11755 Wilshire Blvd., Suite 2000 | ||
Los Angeles, CA | 90025 | |
(Address of principal executive offices) | (Zip Code) |
Issuers telephone number: (310) 883-1300
Securities registered under Section 12(b) of the Act: None
Securities registered under Section 12(g) of the Act:
Common Stock, $0.0001 Par Value
(Title of Class)
(Title of Class)
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in rule
405 of the Securities Act. YES o NO þ
Indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Exchange Act. o
Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d)
of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. YES þ NO o
Indicate by check mark whether the registrant has submitted electronically and posted on its
corporate website, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for
such shorter period that the registrant was required to submit and post such files). YES
o NO þ
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation
S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of
registrants knowledge, in definitive proxy or information statements incorporated by reference in
Part III of this form 10-K or any amendment to this Form 10-K. þ
Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company. See the definitions of large accelerated
filer, accelerated filer and smaller reporting company in Rule 12b-2 of the
Exchange Act. (Check one):
Large accelerated filer o | Accelerated filer o | Non-accelerated filer o (Do not check if a smaller reporting company) |
Smaller reporting company þ |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of
the Exchange Act). Yes þ No o
State issuers revenues for its most recent fiscal year. The Company had no revenues during
its fiscal year ending September 30, 2010.
As of December 17, 2010, 2,022,500 shares of the Registrants Common Stock and no shares of
the Registrants Preferred Stock were issued and outstanding.
TABLE OF CONTENTS
ITEM 9A(T). CONTROLS AND PROCEDURES | ||||||||
PART IV | ||||||||
ITEM 15. EXHIBITS, FINANCIALS STATEMENTS, FINANCIAL STATEMENT SCHEDULES | ||||||||
SIGNATURES | ||||||||
Exhibit 31.1 | ||||||||
Exhibit 31.2 | ||||||||
Exhibit 32.1 | ||||||||
Exhibit 32.2 |
Table of Contents
EXPLANATORY NOTE
Stalar 3, Inc. (the Company) is filing this Amendment No. 1 on Form 10-K/A (this Amendment)
with the Securities and Exchange Commission (the SEC) to amend its Annual Report on Form 10-K for
the fiscal year ended September 30, 2010 as filed with the SEC on December 17, 2010 (the Original
Report). This Amendment amends and restates Item 9A(T). Internal Controls and Procedures and the
Report of Independent Registered Public Accounting Firm. This Amendment is being filed to enhance
the Companys disclosures under the above-referenced items in response to comments from the Staff
of the SEC given in connection with its review of the Companys recent filings under the Securities
Exchange Act of 1934.
Except as described above, the Original Report has not been amended, updated or otherwise modified.
The Original Report, as amended by this Amendment, continues to speak as of the date of the
Original Report and does not reflect events occurring after the filing of the Original Report or
update or otherwise modify any related or other disclosures, including forward-looking statements.
Accordingly, this Amendment should be read in conjunction with the Companys other filings made
with the SEC subsequent to the filing of the Original Report.
Table of Contents
ITEM 9A(T). CONTROLS AND PROCEDURES.
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including our Principal
Executive Officer and Principal Financial Officer, we conducted an evaluation of the effectiveness
of the design and operation of our disclosure controls and procedures, as defined in Rules
13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act).
Disclosure controls and procedures are those controls and procedures designed to provide reasonable
assurance that the information required to be disclosed in our Exchange Act filings is (1)
recorded, processed, summarized and reported within the time periods specified in Securities and
Exchange Commissions rules and forms, and (2) accumulated and communicated to management,
including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow
timely decisions regarding required disclosure.
Our original Form 10-K did not include managements report on internal controls over financial
reporting which is a required item pursuant to Regulation S-K. Because of this omission, our
Principal Executive Officer and Principal Financial Officer have reevaluated the effectiveness of
the design and operation of our disclosure controls and procedures and concluded that, as of
September 30, 2010, our disclosure controls and procedures were not effective in providing a
reasonable level of assurance that the information required to be disclosed in our Exchange Act
filings is recorded, processed, summarized and reported within the time periods specified in the
Commissions rules and forms. The following material weakness in our disclosure controls and
procedures as of September 30, 2010 was identified:
| As a shell company with no operations or investments, we do not have any full-time
employees. Our single officer devoted time to our affairs on an as needed basis. As a
result, our ability to coordinate, review timely and file financial reports may not have
been adequate. |
A material weakness is a control deficiency, or combination of control deficiencies, that results
in a reasonable possibility that a material misstatement of the Companys annual or interim
financial statements would not be prevented or detected on a timely basis by the Companys internal
controls.
Subsequent to period end, a number of actions have been undertaken to remediate the material
weakness noted above. In connection with the acquisition of Abraxis BioScience, Inc. (Abraxis) by
Celgene Corporation (Celgene), we have appointed additional officers and directors, increasing
the number of officers from one single individual who served as both the single officer and
director to four officers consisting of a President, Chief Financial Officer, Treasurer and a Vice
President-Tax. These four officers also serve as directors. Also in connection with the acquisition
of Abraxis by Celgene, our public filings are now subject to review by the staff of Celgene. In
addition, the Company may file a Form 15 to deregister our securities with the SEC and terminate
future SEC reporting obligations.
Managements Report on Internal Control Over Financial Reporting.
Our Management, including our Principal Executive Officer and our Principal Financial Officer, is
responsible for establishing and maintaining adequate internal control over financial reporting as
defined in Rules 13a-15(f) and 15d-15(f) promulgated under the Exchange Act. Those rules define
internal control over financial reporting as a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting principles and includes those
policies and procedures that: (i) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect our transactions and dispositions of our assets; (ii) provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that out receipts and
expenditures are being made only in accordance with authorizations of our management and directors;
and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisitions, use or disposition of our assets that could have a material effect on our financial
statements.
Because of its inherent limitations, internal controls over financial reporting may not prevent or
detect misstatements. Projections of any evaluation of effectiveness to future periods are subject
to the risk that controls may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.
Table of Contents
Management assessed the effectiveness of our internal control over financial reporting as of
September 30, 2010. In making this assessment, our management used the criteria established in
Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO). Our assessment included consideration of the material weakness
identified in the disclosure controls above and we concluded that the weakness identified above did
not impact reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting principles
when also considering our limited size and complexity. Based on our assessment, we believe that, as
of September 30, 2010, our internal control over financial reporting is effective based on those
criteria.
This annual report does not include an attestation report of our registered public accounting firm
regarding internal control over financial reporting. Managements report was not subject to
attestation by our registered public accounting firm pursuant to temporary rules of the Securities
and Exchange Commission that permit us to provide only managements report in this annual report.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting during the quarter ended
September 30, 2010 that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.
Table of Contents
PART IV
ITEM 15. EXHIBITS, FINANCIALS STATEMENTS, FINANCIAL STATEMENT SCHEDULES.
The following documents are filed as part of this amended Annual Report on Form 10-K:
Financial Statements
Incorporated by reference to our annual report on Form 10-K for the fiscal year ended
September 30, 2010.
Financial Statement Schedules
No financial statement schedules are required to be presented.
Exhibits
Exhibit | ||||
Number | Title of Document | |||
3.1 | Articles of Incorporation (1) |
|||
3.1 | (i) | Certificate of Correction to Certificate of Incorporation (1) |
||
3.2 | Bylaws (1) |
|||
14.1 | Code of Ethics (2) |
|||
23.1 | Consent of MSCM LLP (3) |
|||
31.1 | Certification of principal executive officer pursuant to
Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|||
31.2 | Certification of principal financial officer pursuant to
Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|||
32.1 | Certification of principal executive officer pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 |
|||
32.2 | Certification of principal financial officer pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 |
(1) | Incorporated by reference from the Companys registration statement on Form 10-SB filed on
December 12, 2007. |
|
(2) | Incorporated by reference from the Companys Quarterly Report on Form 10-Q filed on May 7,
2009. |
|
(3) | Incorporated by reference from the Companys Annual Report on Form 10-K for the fiscal year
ended September 30, 2010. |
Table of Contents
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
STALAR 3, INC. |
||||
Dated: February 2, 2011 | By: | /s/ Perry Karsen | ||
Perry Karsen, | ||||
President and Director | ||||
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701 Evans Avenue 8th Floor Toronto, Ontario Canada M9C 1A3 |
telephone: facsimile: email: website: |
(416) 626-6000 (416) 626-8650 info@mscm.ca www.mscm.ca |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholders of
Stalar 3, Inc. (A Development Stage Company)
Stalar 3, Inc. (A Development Stage Company)
We have audited the accompanying balance sheets of Stalar 3, Inc. as of September 30, 2010 and 2009
and the related statements of operations, changes in stockholders deficit and cash flows for the
years then ended and for the period from November 13, 2007 (Inception) to September 30, 2010.
These financial statements are the responsibility of the Companys management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement. The
Company is not required to have, nor were we engaged to perform, an audit of its internal control
over financial reporting. Our audits included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the Companys internal control
over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the financial position of Stalar 3, Inc. as of September 30, 2010 and 2009, and the
results of its operations and its cash flows for the years then ended and for the period from
November 13, 2007 (Inception) to September 30, 2010 in conformity with accounting principles
generally accepted in the United States of America.
The accompanying financial statements have been prepared assuming that the Company will continue as
a going concern. As discussed in Note A to the financial statements, the Company has never
generated revenue and is unlikely to generate earnings in the immediate or foreseeable future.
These conditions raise substantial doubt as to the ability of the Company to continue as a going
concern. Managements plans in regards to these matters are described in Note A. These financial
statements do not include any adjustments that might result from the outcome of this uncertainty.
Signed: /s/ MSCM LLP |
Toronto, Ontario |
December 13, 2010 |