FreeStar Technology Corp.

• Public

Dow Jones Description

The Company was originally organized on August 2, 1997 under the laws of the State of Delaware as Interstate Capital Corporation. The Company at that time had no operations and was considered a development stage company. On November 17, 1999, the Company caused a Nevada corporation to be formed under the name of Freedom Surf, Inc., which then merged, with Interstate Capital Corporation for the purpose of changing the corporate domicile to Nevada. On February 14, 2001, the Secretary of State of the State of Nevada accepted an Amendment to the Articles of Incorporation of the Company changing its name from "Freedom Surf, Inc." to "Freestar Technologies." On August 10, 2001, the Company purchased all of the assets of ePayLatina, S. A. in exchange for 1,000,000 shares of Series A preferred stock in the Company. The Series A shares are convertible into 12,000,000 shares of common stock in the Company. Conversion can occur upon the certification after 12 months that the Company has a before tax profit of at least $1,000,000 at which time, 1/3rd of the preferred shares become convertible into common.

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• Hyundai
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