UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                     For the fiscal year ended July 31, 2010

[ ] TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
    ACT OF 1934

                        Commission File Number 000-52387

                             AMERICAN TELSTAR, INC.
             (Exact Name of Registrant as Specified in its Charter)

           Colorado                                              84-1052279
(State or other jurisdiction of                                (IRS Employer
 incorporation or organization)                           Identification Number)

     36 Mclean Street, Red Bank, NJ                               07701
(Address of Principal Executive Offices)                        (Zip Code)

                                  201-970-4987
              (Registrant's telephone number including area code)

Securities registered under Section 12(b) of the Act: None

Securities  registered under Section 12(g) of the Act: Common Stock,  $.0001 par
value per share (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 [ ] No [X]

Indicate  by  check  mark if the  registrant  is not  required  to file  reports
pursuant to Section 13 or 15(d) of the Act. Yes [ ] No [X]

Indicate by check mark whether the registrant (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 [X] No [ ]

Indicate by check mark whether the registrant has submitted  electronically  and
posted on its corporate Web site, if any, every  Interactive  Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss.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 [ ] No [ ]
*The registrant has not yet been phased into the interactive data  requirements.

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S-K (ss.229.405 of this chapter) is not contained  herein and will
not be contained,  to the best of registrant's knowledge, in definitive proxy or
information statement incorporated by reference in Part III of this Form 10-K or
any amendment to this Form 10-K. [ ]

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 definition of "large accelerated  filer,"  "accelerated  filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]                        Accelerated filer [ ]
Non-accelerated filer [ ]                          Smaller reporting company [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [X] No [ ]

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates  computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common  equity,  as of
the last business day of the registrant's most recently  completed second fiscal
quarter: $0.

Indicate the number of share outstanding of each of the registrant's  classes of
common stock, as of the latest practicable date. 650,225 as of July 31, 2010.
<PAGE>
                                TABLE OF CONTENTS

                                     Part I

                                                                            Page
                                                                            ----
Item 1    Business                                                            3
Item 1A   Risk Factors                                                        4
Item 1B   Unresolved Staff Comments                                           4
Item 2    Properties                                                          4
Item 3    Legal Proceedings                                                   4
Item 4    Removed and Reserved                                                4

                                     Part II

Item 5    Market for Registrant's Common Equity, Related Stockholder Matters
          and Issuer Purchases of Equity Securities                           4
Item 6    Selected Financial Data                                             4
Item 7    Management's Discussion and Analysis of Financial Condition and
          Results of Operations                                               5
Item 8    Financial Statements                                                7
Item 9    Changes in and Disagreements with Accountants on Accounting and
          Financial Disclosure                                               17
Item 9A   Controls and Procedures                                            17
Item 9B   Other Information                                                  18

                                    Part III

Item 10   Directors, Executive Officers and Corporate Governance             18
Item 11   Executive Compensation                                             19
Item 12   Security Ownership of Certain Beneficial Owners and Management
          and Related Stockholder Matters                                    21
Item 13   Certain Relationships and Related Transactions and Director
          Independence                                                       21
Item 14   Principal Accounting Fees and Services                             21

                                     Part IV

Item 15   Exhibits, Financial Statement Schedules                            22
          Signatures                                                         23

                                       2
<PAGE>
                                     PART I

ITEM 1 BUSINESS

American Telstar, Inc. (the "Company") was incorporated on August 5, 1986, under
the laws of the State of  Colorado.  The Company  was in the music  distribution
business.

Since 1991,  the Company has not engaged in any operations and has been dormant.
As such, the Company may presently be defined as a "shell"  company,  whose sole
purpose,  at this time, is to locate and consummate a merger or acquisition with
a private entity.

Effective March 25, 2005, the Company  commenced  activities to become reporting
with the SEC with the  intention  to become a publicly  trading  company  and on
January 3, 2007,  filed a  registration  statement  on Form 10-SB with the U. S.
Securities  and Exchange  Commission  (the "SEC")  registering  its common stock
under Section 12(g) of the  Securities  and Exchange Act of 1934 (the  "Exchange
Act").  The  purpose  of  the  Company  is to  engage  in any  lawful  corporate
undertaking,  including,  but not limited to, selected mergers and acquisitions.
The Company has been in the developmental  stage and has no operations since the
renewal  of  its  charter.   The  Company  has  not  commenced  any  operational
activities.  The Board of  Directors  of the  Company  has  elected to  commence
implementation  of the Company's  principal  business  purpose,  described below
under "General Business Plan".

Pursuant to the Articles of  Incorporation,  the Company is  authorized to issue
500,000,000 shares of common stock,  $0.0001 par value, and 40,000,000 shares of
Preferred Stock,  $0.10 par value. As of July 31, 2010, there are 650,225 shares
of common stock outstanding.

The proposed  business  activities  described  herein  classify the Company as a
"blank check" company. Many states have enacted statutes,  rules and regulations
limiting the sale of securities of "blank check"  companies in their  respective
jurisdictions.  Management  does not intend to  undertake  any  offering  of the
Company's securities,  either debt or equity, until such time as the Company has
successfully implemented its business plan herein.

On May 26, 2010, Lisa Guise,  (the  "Purchaser"),  entered into a Stock Purchase
Agreement  (the  "Purchase")  with Pride  Equities,  Inc.  and  Charles  Calello
(collectively  "Seller")  pursuant  to which the  Seller  sold an  aggregate  of
493,750  shares  of  Common  Stock of the  Company  to  Purchaser,  representing
approximately  75.94% of the total issued and outstanding shares of Common Stock
of the Company,  for a total  purchase  price of $175,000  and  attained  voting
control of the Company.

GENERAL BUSINESS PLAN

At this  time,  the  Company's  purpose  is to seek,  investigate  and,  if such
investigation warrants,  acquire an interest in business opportunities presented
to it by persons or firms who or which desire to seek the  perceived  advantages
of an Exchange  Act  registered  corporation.  The Company will not restrict its
search to any specific  business,  industry,  or  geographical  location and the
Company may  participate in a business  venture of virtually any kind or nature.
This  discussion  of the proposed  business is  purposefully  general and is not
meant to be  restrictive  of the  Company's  virtually  unlimited  discretion to
search  for  and  enter  into  potential  business   opportunities.   Management
anticipates  that it may be able to participate  in only one potential  business
venture because the Company has nominal assets and limited financial  resources.
This  lack  of  diversification  should  be  considered  a  substantial  risk to
shareholders  of the  Company  because it will not permit the  Company to offset
potential losses from one venture against gains from another.

The Company may seek a business  opportunity  with entities  which have recently
commenced  operations,  or which wish to utilize the public marketplace in order
to raise additional capital in order to expand into new products or markets,  to
develop a new product or service, or for other corporate  purposes.  The Company
may acquire assets and establish wholly-owned subsidiaries in various businesses
or acquire existing businesses as subsidiaries.

                                       3
<PAGE>
The Company intends to advertise and promote the Company privately.  The Company
has not yet prepared any notices or advertisement.

ITEM 1A RISK FACTORS

Not applicable.

ITEM 1B UNRESOLVED STAFF COMMENTS

None.

ITEM 2 PROPERTIES

The Company  does not own or lease any  property.  Our sole officer and director
provides  office space and related office services  without charge.  There is no
guarantee that this arrangement will continue in the future.

ITEM 3 LEGAL PROCEEDINGS

There are no known  legal  proceedings  or  outstanding  judgments  against  the
Company, nor any pending litigation.

ITEM 4 REMOVED AND RESERVED

                                     PART II

ITEM 5 MARKET FOR COMMON EQUITY AND RELATED  STOCKHOLDER  MATTERS AND REGISTRANT
       PURCHASES OF EQUITY SECURITIES

(a) Market Information.

The Company's  securities  are listed for trading on the OTCBB,  but there is no
active trading market.

(b) Holders.

As of July 31, 2010, there are  approximately 28 holders of the Company's Common
Stock.

(c) Dividends.

The  Company  has never  paid a cash  dividend  on its  common  stock and has no
present  intention  to declare or pay cash  dividends on the common stock in the
foreseeable  future.  The Company  intends to retain any  earnings  which it may
realize in the foreseeable  future to finance its operations.  Future dividends,
if any, will depend on earnings, financing requirements and other factors.

The transfer agent for the Company's common stock is Computershare,  350 Indiana
Street, Suite 750, Golden, CO 80401.

ITEM 6 SELECTED FINANCIAL DATA

The following  selected  financial data should be read in  conjunction  with our
financial statements and related notes and "Management's Discussion and Analysis
of Financial  Condition and Results of Operations".  The statements o operations
data for the years ended July 31,  2010 and 2009 and the  balance  sheet data at
July 31,  2010 and 2009 are  derived  from our  financial  statements  which are
included elsewhere in this Form 10-K. The historical results are not necessarily
indicative of results to be expected for future periods.

                                       4
<PAGE>
STATEMENTS OF OPERATIONS DATA:

                                                     For the Year Ended July 31,
                                                        2010            2009
                                                      --------        --------

Revenue                                               $     --        $     --
Cost of goods sold                                          --              --
                                                      --------        --------
Gross profit (loss)                                         --              --
                                                      --------        --------
Total Operating Expenses                                 4,252          30,001
                                                      --------        --------

Net (Loss)                                              (4,252)        (30,001)
                                                      ========        ========

Basic and diluted loss per share                         (0.01)          (0.05)
                                                      ========        ========
Shares used in calculation of loss per share:
  Basic and Diluted                                    650,225         650,225
                                                      ========        ========

BALANCE SHEET DATA:

                                                     For the Year Ended July 31,
                                                        2010            2009
                                                      --------        --------

Cash and Cash Equivalents                             $  9,053        $  5,253
Working Capital                                        (25,875)        (21,623)
Total Assets                                             9,053           5,253
Long Term Obligations                                   20,140              --
Total Shareholders' equity (deficit)                   (25,875)        (21,623)

ITEM 7 MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL  CONDITION AND RESULTS
       OF OPERATIONS

The  following  discussion  should  be read in  conjunction  with the  financial
statements  and notes  thereto.  Our  fiscal  year ends July 31.  This  document
contains certain forward-looking statements including, among others, anticipated
trends in our financial  condition  and results of  operations  and our business
strategy.  These  forward-looking  statements  are based  largely on our current
expectations  and are  subject  to a number of risks and  uncertainties.  Actual
results could differ materially from these forward-looking statements. Important
factors to consider in evaluating such  forward-looking  statements  include (i)
changes in external  factors or in our internal  budgeting  process  which might
impact trends in our results of operations;  (ii) unanticipated  working capital
or other  cash  requirements;  (iii)  changes  in our  business  strategy  or an
inability to execute our strategy due to unanticipated changes in the industries
in which we  operate;  and (iv)  various  competitive  market  factors  that may
prevent us from competing successfully in the marketplace.

RESULTS OF OPERATIONS

The Company  incorporated in Colorado on August 5, 1986 as a music  distribution
business. Since 1991, the Company has not engaged in any operations and has been
dormant.  As such,  the Company may  presently be defined as a "shell"  company,
whose sole  purpose,  at this  time,  is to locate  and  consummate  a merger or
acquisition with a private entity.

Effective March 25, 2005, the Company  commenced  activities to become reporting
with the SEC with the  intention  to become a publicly  trading  company  and on
January 3, 2007,  filed a  registration  statement  on Form 10-SB with the U. S.
Securities  and Exchange  Commission  (the "SEC")  registering  its common stock
under Section 12(g) of the  Securities  and Exchange Act of 1934 (the  "Exchange
Act").  The  purpose  of  the  Company  is to  engage  in any  lawful  corporate

                                       5
<PAGE>
undertaking,  including,  but not limited to, selected mergers and acquisitions.
The Company has been in the developmental  stage and has no operations since the
renewal  of  its  charter.   The  Company  has  not  commenced  any  operational
activities.  The Board of  Directors  of the  Company  has  elected to  commence
implementation  of the Company's  principal  business  purpose,  described below
under "General Business Plan".

For the year ended July 31,  2010 we  incurred a net loss of ($4,252) or ($0.01)
per share  compared to a net loss of ($30,001) or ($0.05) per share for the year
ended July 31,  2009.  The change is  primarily  attributable  to an increase in
professional  and  consulting  fees  and  a  reversal  of a  previously  accrued
investment  banking fee which was forgiven in connection with the stock purchase
agreement dated May 26, 2010.

The  Company  believes  that  while  there  is some  doubt  as to the  Company's
continuation  as a going  concern,  its success is dependent upon its ability to
meet its  financing  requirements  and the success of its future  operations  or
completion of a successful  business  combination.  Management believes that the
Company's  operating and financial  requirements  provide the opportunity to the
Company to continue as a going  concern.  The opinion of the  Company's  auditor
(page 6) and the notes to the Company's  financial  statements (Note 3, page 13)
express  substantial  doubt as to the  Company's  ability to continue as a going
concern  based upon the fact that the  Company  did not  generate  any  revenues
during the year ended July 31,  2010,  is unlikely  to generate  earnings in the
immediate or foreseeable future and has an accumulated deficit of $255,375 as of
July 31, 2010.

LIQUIDITY AND CAPITAL RESOURCES

On July 31,  2010 we had a negative  working  capital of  ($25,875)  and cash of
$9,053,  compared to negative working capital of ($21,623) and cash of $5,253 at
July 31, 2009.

The Company has no operating  history as a "blank check" company and no material
assets.

We presently do not have any available credit,  bank financing or other external
sources  of  liquidity.  We will need to obtain  additional  capital in order to
commence   operations.   We  are   currently   investigating   other   financial
alternatives,  including  additional  equity and/or debt financing.  In order to
obtain  capital,  we may need to sell  additional  shares of our common stock or
borrow funds from private lenders.  However,  there can be no assurance that any
additional  financing  will become  available to us, and if available,  on terms
acceptable to us.

                                       6
<PAGE>
ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

                                                                            Page
                                                                            ----

Report of Independent Registered Public Accounting Firm                       8
Balance Sheets                                                                9
Statements of Operations                                                     10
Statements of Cash Flows                                                     11
Statements of Changes in Stockholders' Equity                                12
Notes to Financial Statements                                                13

                                       7
<PAGE>
Paritz & Company, P.A.                                15 Warren Street, Suite 25
                                                    Hackensack, New Jersey 07601
                                                           Phone: (201) 342-7753
                                                             Fax: (201) 342-7598
                                                      E-Mail: paritz @paritz.com
--------------------------------------------------------------------------------
Certified Public Accountants

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors
American Telstar, Inc.
(A Development Stage Company)

We have audited the  accompanying  balance sheets of American  Telstar,  Inc. (A
Development  Stage  Company)  as of July  31,  2010  and  2009  and the  related
statements of operations, changes in stockholders' equity and cash flows for the
years then ended and for the period from inception  (March 25, 2005) to July 31,
2010.  These  financial  statements  are  the  responsibility  of the  Company's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audit.

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 Company's  internal control over financial
reporting. Accordingly, we express no such opinion. An audit includes examining,
on a  test  basis,  evidence  supporting  the  amounts  and  disclosures  in the
financial statements. An audit also includes 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 American  Telstar,  Inc. (A
Development  Stage  Company)  as of  July  31,  2010,  and  the  results  of its
operations  and its cash flows for the year then  ended and for the period  from
inception  (March 25,  2005) to July 31, 2010,  in  conformity  with  accounting
principles generally accepted in the United States of America.

As discussed in Note 3, the accompanying financial statements have been prepared
assuming  the  Company  will  continue  as a going  concern.  The ability of the
Company to continue as a going concern and to emerge from the development  stage
is dependent upon its successful execution of its plan of operations and ability
to raise  additional  financing.  There is no guarantee that the Company will be
able to raise additional  financing or sell any of its products or services at a
profit.  The Company did not generate any revenue during the year ended July 31,
2010 and has an accumulated  deficit of $255,375 as of that date. These factors,
among  others,  raise  substantial  doubt  regarding  the  Company's  ability to
continue  as a going  concern.  The  accompanying  financial  statements  do not
include any adjustments that might result from the outcome of this uncertainty.


/s/ Paritz & Company, P.A.
------------------------------
Paritz & Company, P.A.
Hackensack, New Jersey
October 14, 2010

                                       8
<PAGE>
                             AMERICAN TELSTAR, INC.
                                 BALANCE SHEETS
                          (A DEVELOPMENT STAGE COMPANY)


<TABLE>
<CAPTION>
                                     ASSETS

                                                                     July 31,             July 31,
                                                                       2010                 2009
                                                                    ----------           ----------
<S>                                                                 <C>                  <C>
CURRENT ASSETS
  Cash                                                              $    9,053           $    5,253
                                                                    ----------           ----------
TOTAL CURRENT ASSETS                                                     9,053                5,253
                                                                    ----------           ----------

TOTAL ASSETS                                                        $    9,053           $    5,253
                                                                    ==========           ==========

                      LIABILITIES AND STOCKHOLDER'S EQUITY

CURRENT LIABILITIES
  Accounts payable                                                  $   14,788           $   26,250
  Accounts payable, related party                                           --                  626
  Loan payable - related party                                          20,140                   --
                                                                    ----------           ----------
TOTAL CURRENT LIABILITIES                                               34,928               26,876
                                                                    ----------           ----------
STOCKHOLDERS' EQUITY
  Preferred stock, $0.10 par value,
    40,000,000 shares authorized,
    none issued and outstanding                                             --                   --
  Common stock, $0.0001 par value,
    500,000,000 shares authorized,
    650,225 issued & outstanding                                            65                   65
  Additional paid-in-capital                                           229,435              229,435
  Accumulated deficit                                                 (163,000)            (163,000)
  Accumulated deficit during the development stage                     (92,375)             (88,123)
                                                                    ----------           ----------
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                                   (25,875)             (21,623)
                                                                    ----------           ----------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                $    9,053           $    5,253
                                                                    ==========           ==========
</TABLE>


                       SEE NOTES TO FINANCIAL STATEMENTS

                                       9
<PAGE>
                             AMERICAN TELSTAR, INC.
                            STATEMENTS OF OPERATIONS
                          (A DEVELOPMENT STAGE COMPANY)

<TABLE>
<CAPTION>
                                                                                     For the period
                                                                                   from March 25, 2005
                                                                                  (date of development
                                                 Year Ended         Year Ended       stage) through
                                                  July 31,           July 31,           July 31,
                                                    2010               2009               2010
                                                  --------           --------           --------
<S>                                               <C>                <C>                <C>
Revenue                                           $     --           $     --           $     --
                                                  --------           --------           --------
EXPENSES
  Stock issued for reorganization services              --                 --              6,500
  Consulting fees, related party                        --                 --             30,000
  Consulting fees, unrelated party                   5,000                 --              5,000
  Investment banking services                      (25,000)            26,250              1,250
  Professional fees                                 17,100              3,694             40,421
  Other                                              1,709                 57              3,761
  Forfieture of mining property deposit              5,443                 --              5,443
                                                  --------           --------           --------
TOTAL EXPENSE                                        4,252             30,001             92,375
                                                  --------           --------           --------

Net Loss                                          $ (4,252)          $(30,001)          $(92,375)
                                                  ========           ========           ========

Net Income (Loss )Per Share                       $  (0.01)          $  (0.05)
                                                  ========           ========

Weighted Average Shares Outstanding                650,225            650,225
                                                  ========           ========
</TABLE>


                        SEE NOTES TO FINANCIAL STATEMENTS

                                       10
<PAGE>
                             AMERICAN TELSTAR, INC.
                            STATEMENTS OF CASH FLOWS
                          (A DEVELOPMENT STAGE COMPANY)

<TABLE>
<CAPTION>
                                                                                           For the period
                                                                                         from March 25, 2005
                                                                                        (date of development
                                                       Year Ended         Year Ended       stage) through
                                                        July 31,           July 31,           July 31,
                                                          2010               2009               2010
                                                        --------           --------           --------
<S>                                                     <C>                <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)                                     $ (4,252)          $(30,001)          $(92,375)
  Adjustment to reconcile net income (loss) to
   net cash used in operating activities
     Stock issued for services                                --                 --             36,500
     Increase (decrease) in accounts
      payable and accrued expenses                       (12,088)            21,933             14,788
                                                        --------           --------           --------

Net cash used in operating activities                    (16,340)            (8,068)           (41,087)
                                                        --------           --------           --------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds of loan from related party                     20,140                 --             20,140
  Proceeds from issuance of common stock                      --                 --             30,000
                                                        --------           --------           --------

Net cash provided by financing activities                 20,140                 --             50,140
                                                        --------           --------           --------

Cash at beginning of period                                5,253             13,321                 --

Net increase (decrease) in cash                            3,800             (8,068)             9,053
                                                        --------           --------           --------

CASH AT END OF PERIOD                                   $  9,053           $  5,253           $  9,053
                                                        ========           ========           ========
</TABLE>


                        SEE NOTES TO FINANCIAL STATEMENTS

                                       11
<PAGE>
                             AMERICAN TELSTAR, INC.
                  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                          (A DEVELOPMENT STAGE COMPANY)
         FOR THE PERIOD FROM MARCH 25, 2005 (DATE OF DEVELOPMENT STAGE)
                             THROUGH JULY 31, 2010

<TABLE>
<CAPTION>
                                                                                                   Accumulated
                                                                                                    (Deficit)
                                                                        Additional                  During the
                              Preferred  Stock      Common     Stock     Paid-In     Accumulated   Development
                              # Shares   Amount    # Shares    Amount    Capital      (Deficit)       Stage        Total
                              --------   ------    --------    ------    -------      ---------       -----        -----
<S>                           <C>        <C>       <C>         <C>       <C>          <C>            <C>          <C>
Balance at August 1, 2004          --     $ --      251,475    $   25    $162,975     $(163,000)    $     --     $     --

Issuance of stock for
 services at $0.0928 on
 May 23, 2005                      --       --       70,000         7       6,493            --           --        6,500

Issuance of stock for $30,000
 services and $30,000 cash at
 $0.1825 on May 23, 2005           --       --      328,750        33      59,967            --           --       60,000

Net loss - year ended
 July 31, 2005                     --       --           --        --          --            --       (9,019)      (9,019)
                                -----    -----     --------    ------    --------     ---------     --------     --------
Balance at July 31, 2005           --       --      650,225        65     229,435      (163,000)      (9,019)      57,481

Net loss - year ended
 July 31, 2006                     --       --           --        --          --            --       (2,522)      (2,522)
                                -----    -----     --------    ------    --------     ---------     --------     --------
Balance at July 31, 2006           --       --      650,225        65     229,435      (163,000)     (11,541)      54,959

Net loss - year ended
 July 31, 2007                     --       --           --        --          --            --      (41,171)     (41,171)
                                -----    -----     --------    ------    --------     ---------     --------     --------
Balance at July 31, 2007           --       --      650,225        65     229,435      (163,000)     (52,712)      13,788

Net loss - year ended
 July 31, 2008                     --       --           --        --          --            --       (5,410)      (5,410)
                                -----    -----     --------    ------    --------     ---------     --------     --------
Balance at July 31, 2008           --       --      650,225        65     229,435      (163,000)     (58,122)       8,378

Net loss - year ended
 July 31, 2009                     --       --           --        --          --            --      (30,001)     (30,001)
                                -----    -----     --------    ------    --------     ---------     --------     --------
Balance at July 31, 2009           --       --      650,225        65     229,435      (163,000)     (88,123)     (21,623)

Net loss - year ended
 July 31, 2010                     --       --           --        --          --            --       (4,252)      (4,252)
                                -----    -----     --------    ------    --------     ---------     --------     --------

Balance at July 31, 2010           --    $  --      650,225        65    $229,435      (163,000)    $(92,375)    $(25,875)
                                =====    =====     ========    ======    ========     =========     ========     ========
</TABLE>


                        SEE NOTES TO FINANCIAL STATEMENTS

                                       12
<PAGE>
                             AMERICAN TELSTAR, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                          NOTES TO FINANCIAL STATEMENTS
                                  JULY 31, 2010


NOTE 1 - ORGANIZATION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Organization and Description of Business

The Company (formerly Heritage Funding,  Ltd.) was originally  incorporated as a
Colorado corporation on August 5, 1986.

Heritage Funding,  Ltd.  successfully  completed a public offering of securities
during the year ended July 31, 1988.  On November 28, 1988,  the Company  issued
185,000  (post  reverse-split)  shares of its $.0001 par value  common  stock in
exchange for 100% ownership of American Telstar, Inc. American Telstar, Inc. was
established as a California  corporation in 1986. The Company was engaged in the
music video business as well as a movie production business. American Telstar in
1988 became  engaged in acquiring  music  through lease  agreements  for various
record labels. Since 1991, the Company has not engaged in any operations and has
been dormant.

Heritage  Funding,  Ltd. changed its name to American  Telstar,  Inc.  effective
December 9, 1988.

The business  combination  was  accounted  for as a reverse  purchase  since the
controlling  shareholders of the acquired company control the acquiring  company
after the  transaction.  The  stockholders'  (deficit)  section of the financial
statements has been retroactively  adjusted to give effect to the reorganization
as of the date the original  shares were issued by American  Telstar,  Inc., the
California corporation. The net monetary assets of Heritage Funding, Ltd. at the
time of the transaction have been treated as consideration for the new shares at
that time.

Effective March 25, 2005, the Company  commenced  activities to become reporting
with the SEC with the intention to become a publicly trading company.

(b) Development Stage Activities

Based upon the Company's  business  plan, it is a development  stage  enterprise
since planned  principal  operations  have not yet commenced.  Accordingly,  the
Company  presents its financial  statements in  conformity  with the  accounting
principles  generally  accepted  in the United  States of America  that apply in
establishing  operating  enterprises.  As a development  stage  enterprise,  the
Company discloses the deficit  accumulated  during the development stage and the
cumulative  statements  of  operations  and  cash  flows  from  commencement  of
development stage to the current balance sheet date. The development stage began
March 25, 2005 when the Company  commenced  activities to become  reporting with
the SEC with the intention to become a publicly trading company.

                                       13
<PAGE>
                             AMERICAN TELSTAR, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                          NOTES TO FINANCIAL STATEMENTS


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

A. USE OF ESTIMATES

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could differ from those estimates.

B. DEVELOPMENT STAGE

The Company  continues to devote  substantially  all of its efforts to exploring
potential  targets for a business  combination  through the  purchase of assets,
share purchase or exchange, merger or similar type of transaction.

C. INCOME TAXES

Deferred tax assets and liabilities  are recognized for future tax  consequences
attributable to differences  between  financial  statement  carrying  amounts of
existing assets and liabilities and their respective tax bases. In addition, the
recognition of future tax benefits,  such as carry-forwards,  to the extent that
realization  of such  benefits  is more  likely  than not and  that a  valuation
allowance  be provided  when it is more likely than not that some portion of the
deferred tax asset will not be realized.

D. SHARE-BASED COMPENSATION

Share-based  compensation  cost is  measured at the grant date based on the fair
value of the award and is  recognized  as  expense  over the  requisite  service
period.  The Company's policy is to recognize  compensation cost for awards with
only service  conditions and a graded vesting schedule on a straight-line  basis
over the requisite service period for the entire award.

During the years  ended  July 31,  2010 and 2009,  there  were no stock  options
granted or outstanding.

E. RECENT ACCOUNTING PRONOUNCEMENTS

There were various accounting  standards and interpretations  issued during 2010
and 2009,  none of which are expected to have a material impact on the Company's
financial position, operations or cash flows.

                                       14
<PAGE>
                             AMERICAN TELSTAR, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                          NOTES TO FINANCIAL STATEMENTS


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (CONT'D)

F. FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company adopted the provisions of Accounting Standards  Codification ("ASC")
820, Fair Value  Measurements and Disclosures.  ASC 820 clarifies the definition
of fair value,  prescribes  methods for measuring fair value,  and establishes a
fair value  hierarchy  to classify  the inputs used in  measuring  fair value as
follows:

Level  1-Inputs are  unadjusted  quoted  prices in active  markets for identical
assets or liabilities available at the measurement date.

Level 2-Inputs are unadjusted  quoted prices for similar assets and  liabilities
in active markets, quoted prices for identical or similar assets and liabilities
in markets  that are not  active,  inputs  other  then  quoted  prices  that are
observable, and inputs derived from or corroborated by observable market data.

Level 3-Inputs are unobservable  inputs which reflect the reporting entity's own
assumptions on what assumptions the market participants would use in pricing the
asset or liability based on the best available information.

The Company's financial  instruments primarily consist of cash and related party
borrowings.  As of the  balance  sheet  dates,  the  estimated  fair  values  of
financial  instruments were not materially  different from their carrying values
as presented on the balance sheet.

NOTE 3 - GOING CONCERN

The accompanying consolidated financial statements have been prepared on a going
concern  basis,  which  contemplates  the Company  will  continue to realize its
assets and  discharge  its  liabilities  in the normal  course of business.  The
Company has not generated any revenues since inception,  has an accumulated loss
of $255,375  as of July 31,  2010,  and is unlikely to generate  earnings in the
immediate or  foreseeable  future.  The  continuation  of the Company as a going
concern is dependent upon, among other things,  the continued  financial support
from its shareholders,  the ability of the Company to obtain necessary equity or
debt  financing,  and the  attainment of profitable  operations.  These factors,
among  others,  raise  substantial  doubt  regarding  the  Company's  ability to
continue as a going concern. There is no assurance that the Company will be able
to generate revenues in the future.  These financial  statements do not give any
effect to any adjustments  that would be necessary  should the Company be unable
to continue as a going concern.

                                       15
<PAGE>
                             AMERICAN TELSTAR, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                          NOTES TO FINANCIAL STATEMENTS


NOTE 4 - STOCKHOLDERS' EQUITY

The  Company's  Articles  of  Incorporation  authorize  the  issuance  of  up to
500,000,000 shares of $0.0001 par value common stock and up to 40,000,000 shares
of $0.10 par value  preferred  stock.  As of July 31,  2010,  there were 650,225
shares of common stock issued and outstanding and there were no preferred shares
issued or  outstanding.  The terms and  preferences of the authorized  preferred
stock may be determined at the discretion of the Company's board of directors.

On May 23, 2005,  the Company  effected a one for 200 reverse  stock split.  All
references  in the  accompanying  financial  statements  to the number of common
shares and per share  amounts  have been  retroactively  restated to reflect the
reverse stock split.

NOTE 5 - RELATED PARTY TRANSACTIONS

The  Company  uses the  offices of its Chief  Executive  Officer for its minimal
office  facility  needs for no  consideration.  No provision for these costs has
been provided since it has been determined they are immaterial.

During the year ended July 31, 2010, the Company's majority shareholder advanced
$20,140 to fund the Company's expenses.  This loan is non-interest  bearing with
no stated maturity date.

In connection with a stock purchase agreement,  the former majority shareholders
of the company forgave  $25,000 of investment  services due to them. This amount
is shown as a reduction of expenses in the accompanying  statement of operations
for the year ended July 31, 2010.

NOTE 6 - INCOME TAXES

At July 31, 2010 and 2009,  the Company had net operating loss carry forwards of
approximately $92,000 and $88,000 which expire through 2030. Pursuant to Section
382 of the Internal  Revenue Code  regarding  substantial  changes in ownership,
utilization of these losses may be limited. Due to the fact that the Company has
not  generated any taxable  income  through July 31, 2010 except for income from
the cancellation of investment  banking fees, it was determined that it was more
likely than not that the Company's  deferred tax asset will not be realized.  As
such,  the deferred tax asset of  approximately  $37,000 and $35,000 at July 31,
2010 and 2009,  respectively,  has been offset by a full valuation  allowance of
$37,000 and $35,000, respectively.

                                       16
<PAGE>
                                    PART III

ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
       DISCLOSURE

None.

ITEM 9A CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

The Company  maintains  disclosure  controls and  procedures  (as defined in the
Securities Exchange Act of 1934 Rules 13a-15(e) or 15d-15(e)) designed to ensure
that  information  required to be disclosed in reports filed or submitted  under
the  Securities  Exchange  Act of 1934,  as  amended,  is  recorded,  processed,
summarized and reported within the time periods specified in the SEC's rules and
forms. Disclosure controls and procedures include, without limitation,  controls
and procedures  designed to ensure that information  required to be disclosed by
the Company in its reports  that it files or submits  under the  Exchange Act is
accumulated  and  communicated  to  the  Company's  management,   including  its
principal  executive and principal  financial  officers,  or persons  performing
similar functions,  as appropriate to allow timely decisions  regarding required
disclosure.

The Company's  management,  with the  participation  of its chief  executive and
chief financial officer,  evaluated the effectiveness of our disclosure controls
and procedures  (as defined in Exchange Act Rules  13a-15(e) or 15d-15(e)) as of
July 31, 2010. Based on that evaluation,  the Company's chief executive  officer
concluded  that,  as  of  that  date,  the  Company's  disclosure  controls  and
procedures  were not  effective  at a  reasonable  assurance  level,  due to the
identification  of  a  material  weakness,  as  discussed  further  below  under
Management's Report on Internal Control over Financial Reporting.

MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

Our management is responsible for establishing and maintaining adequate internal
control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of
the Exchange  Act). Our internal  control over financial  reporting is 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 accounting principles generally accepted in the United States.

Because of its inherent  limitations,  internal control over financial reporting
may  not  prevent  or  detect  misstatements.   Therefore,  even  those  systems
determined  to be effective can provide only  reasonable  assurance of achieving
their  control  objectives.   Furthermore,   smaller  reporting  companies  face
additional limitations. Smaller reporting companies employ fewer individuals and
find it difficult to properly segregate duties. Additionally,  smaller reporting
companies  tend to utilize  general  accounting  software  packages  that lack a
rigorous set of software controls.

Our  management,  with  the  participation  of  the  President,   evaluated  the
effectiveness of the Company's  internal control over financial  reporting as of
July 31, 2010. In making this  assessment,  our management used the criteria set
forth by the Committee of Sponsoring  Organizations  of the Treadway  Commission
(COSO) in Internal  Control -- Integrated  Framework.  Based on that evaluation,
our management  concluded  that, as of July 31, 2010, our internal  control over
financial  reporting was not effective due to material  weaknesses in the system
of internal control.  Specifically,  management identified the following control
deficiencies.  (1) The Company has not properly  segregated duties as one or two
individuals initiate, authorize, and complete all transactions.  The Company has
not implemented  measures that would prevent the individuals from overriding the
internal  control  system.  The  Company  does not  believe  that  this  control
deficiency  has  resulted in  deficient  financial  reporting  because the Chief
Financial  Officer is aware of his  responsibilities  under the SEC's  reporting
requirements and personally certifies the financial reports. (2) The Company has
installed  accounting  software that does not prevent  erroneous or unauthorized
changes to previous  reporting  periods  and does not provide an adequate  audit
trail of entries made in the accounting software.

                                       17
<PAGE>
Accordingly, while the Company has identified certain material weaknesses in its
system of internal  control over  financial  reporting,  it believes that it has
taken reasonable steps to ascertain that the financial  information contained in
this report is in accordance  with  generally  accepted  accounting  principles.
Management has determined that current resources would be appropriately  applied
elsewhere and when resources  permit,  they will alleviate  material  weaknesses
through various steps.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

There were no changes in our  internal  control  over  financial  reporting,  as
defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act, during our most
recently completed fiscal year that have materially affected,  or are reasonably
likely to materially affect, our internal control over financial reporting.

ITEM 9B OTHER INFORMATION

On May 26, 2010, Lisa Guise,  (the  "Purchaser"),  entered into a Stock Purchase
Agreement  (the  "Purchase")  with Pride  Equities,  Inc.  and  Charles  Calello
(collectively  "Seller")  pursuant  to which the  Seller  sold an  aggregate  of
493,750  shares  of  Common  Stock of the  Company  to  Purchaser,  representing
approximately  75.94% of the total issued and outstanding shares of Common Stock
of the Company,  for a total  purchase  price of $175,000  and  attained  voting
control of the Company. The Company reported the Purchase on a Current Report on
Form 8-K which was filed with the SEC on May 27, 2010.

On  August  4,  2010,  the  Company  retained  Paritz  &  Company,  P.A.  as its
independent registered public accounting firm for the fiscal year ended July 31,
2010.  The Company did not use an  independent  auditor in the prior fiscal year
because the Company was an inactive company as defined by Regulation S-X ss.210.
3-11 and audited financial statements were not required to be presented.

On  September  28,  2010,  the  Company  changed the  location of its  principal
executive offices from 730 W. Randolph Street,  Suite 600, Chicago,  IL 60661 to
36 Mclean  Street,  Red Bank,  NJ 07701 and  changed its  telephone  number from
312-454-0015 to 201-970-4987.

                                    PART III

ITEM 10 DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The  directors  of the Company  hold office for annual  terms and will remain in
their positions until  successors have been elected and qualified.  The officers
are  appointed  by the board of  directors  of the Company and hold office until
their death,  resignation or removal from office. The ages,  positions held, and
duration of terms of the directors  and executive  officers are as follows as of
the date of this report:

  Name               Age                        Position
  ----               ---                        --------

Lisa Guise            42       President, Chief Executive Officer and Director

LISA GUISE

Lisa  Guise  is  a  director  of  the  Company.  Ms.  Guise  graduated  Syracuse
University.  Ms.  Guise  received  her  Bachelor's  of science  degree in speech
communications  in  1991.  Over  the  past  few  years  Ms.  Guise  has  been an
independent business consultant. Her experience includes working with management
of  privately-held  companies  to  maximize  productivity  as  well  as  general
corporate  matters.  Ms. Guise has  experience in various  industries  including
fitness and transportation.

                                       18
<PAGE>
SIGNIFICANT EMPLOYEES

The Company has no regular employees. Lisa Guise devotes approximately 5% of her
time to the Company's business.

INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS

None

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Securities and Exchange Act of 1934 requires any person who
is our director or  executive  officer or who  beneficially  holds more than ten
percent (10%) of any class of our securities which have been registered with the
Securities  and Exchange  Commission.  These persons are also required under the
regulations of the Securities and Exchange  Commission to furnish us with copies
of all Section 16(a) reports they file. To the Company's knowledge,  all Section
16(a)  reports  were timely  filed  except that (1) during the fiscal year ended
July 31, 2010, one person,  Charles  Calello,  filed a late Form 4 reporting one
transaction;  and (2)  during  the fiscal  years  ended July 31,  2010 and prior
fiscal years, no beneficial ownership reports have been filed by Peter Porath or
Ranji Bedi.

CODE OF ETHICS

We have not prepared a written code of ethics and  employment  standards for our
company.

CORPORATE GOVERNANCE; AUDIT COMMITTEE FINANCIAL EXPERT

We currently do not have an audit committee  financial  expert or an independent
audit  committee  expert due to the fact that our Board of  Directors  currently
does not have an independent audit committee.

ITEM 11 EXECUTIVE COMPENSATION

The following table sets forth  information  concerning the annual and long-term
compensation earned by the Company's  principal  executive officer,  each of our
two most highly  compensated  executive  officers  who were serving as executive
officers at any time during the fiscal year.

<TABLE>
<CAPTION>
                                                                                 Change in
                                                                               Pension Value
                                                                                    and
                                                                 Non-Equity     Nonqualified
                                                                 Incentive        Deferred
                                             Stock    Option        Plan        Compensation     All Other
     Name and               Salary   Bonus   Awards   Awards    Compensation      Earnings      Compensation   Total
Principal Position   Year    ($)      ($)      ($)      ($)         ($)             ($)             ($)         ($)
------------------   ----    ---      ---      ---      ---         ---             ---             ---         ---
<S>                 <C>      <C>     <C>       <C>      <C>        <C>              <C>             <C>         <C>
Lisa Guise           2009     Nil      Nil    Nil      Nil         Nil              Nil             Nil         Nil
President,  Chief
Executive Officer
and Director (1)

Charles Calello,     2009     Nil      Nil    Nil      Nil         Nil              Nil             Nil         Nil
former President     2008     Nil      Nil    Nil      Nil         Nil              Nil             Nil         Nil
and Chief
Executive (2)
</TABLE>


                                       19
<PAGE>
<TABLE>
<CAPTION>
                                                                                 Change in
                                                                               Pension Value
                                                                                    and
                                                                 Non-Equity     Nonqualified
                                                                 Incentive        Deferred
                                             Stock    Option        Plan        Compensation     All Other
     Name and               Salary   Bonus   Awards   Awards    Compensation      Earnings      Compensation   Total
Principal Position   Year    ($)      ($)      ($)      ($)         ($)             ($)             ($)         ($)
------------------   ----    ---      ---      ---      ---         ---             ---             ---         ---
<S>                 <C>      <C>     <C>       <C>      <C>        <C>              <C>             <C>         <C>
Peter Porath,        2009     Nil      Nil    Nil      Nil         Nil              Nil             Nil         Nil
former Vice          2008     Nil      Nil    Nil      Nil         Nil              Nil             Nil         Nil
President, Chief
Financial Officer,
Secretary,
Treasurer and
Director (2)
</TABLE>

----------
(1)  Elected May 26, 2010
(2)  Resigned May 26, 2010

There are no employment  agreements or  consulting  agreements  with our current
sole director and executive officer. There are no arrangements or plans in which
we provide  pension,  retirement or similar  benefits for directors or executive
officers.  We do not have any material bonus or profit sharing plans pursuant to
which  cash or  non-cash  compensation  is or may be paid  to our  directors  or
executive  officers,  except that stock options may be granted at the discretion
of our board of directors from time to time. We have no plans or arrangements in
respect  of  remuneration  received  or that may be  received  by our  executive
officers to compensate  such officers in the event of  termination of employment
(as a result  of  resignation,  retirement,  change of  control)  or a change of
responsibilities following a change of control.

None of the Company's  current  officers or directors  received any compensation
for their respective services rendered to the Company during the last two fiscal
years. They all agreed to act without compensation until authorized by the Board
of Directors.  Such authorization is not expected to occur until the Company has
generated   revenues  from  operations   after   consummation  of  a  merger  or
acquisition.  The  Company  currently  has no  funds  available  to pay our sole
officers and director.  Further,  our sole officers and director is not accruing
any compensation pursuant to any agreement with the Company.

It is possible  that,  after the Company  successfully  consummates  a merger or
acquisition  with an  unaffiliated  entity,  that entity may desire to employ or
retain one or a number of members of the Company's  management  for the purposes
of  providing  services to the  surviving  entity,  or otherwise  provide  other
compensation to such persons.  However, the Company has adopted a policy whereby
the offer of any post-transaction remuneration to members of management will not
be  a  consideration  in  the  Company's  decision  to  undertake  any  proposed
transaction.  Each member of management  has agreed to disclose to the Company's
Board of Directors any discussions  concerning possible  compensation to be paid
to them by any entity that proposes to undertake a transaction  with the Company
and  further,  to  abstain  from  voting on such  transaction.  Therefore,  as a
practical  matter, if each member of the Company's Board of Directors is offered
compensation in any form from any prospective  merger or acquisition  candidate,
the  proposed  transaction  will  not be  approved  by the  Company's  Board  of
Directors  as a result of the  inability of the Board to  affirmatively  approve
such a transaction.

It is possible that persons  associated  with management may refer a prospective
merger or  acquisition  candidate  to the  Company.  In the  event  the  Company
consummates a transaction  with any entity referred by associates of management,
it is possible that such an associate will be compensated  for their referral in

                                       20
<PAGE>
the form of a finder's  fee. It is  anticipated  that this fee will be either in
the form of  restricted  common stock issued by the Company as part of the terms
of the  proposed  transaction,  or  will be in the  form of cash  consideration.
However,  if such  compensation  is in the form of cash,  such  payment  will be
tendered  by the  acquisition  or merger  candidate,  because  the  Company  has
insufficient  cash  available.  The  amount  of  such  finder's  fee  cannot  be
determined as of the date of this registration statement,  but is expected to be
comparable to  consideration  normally paid in like  transactions.  No member of
management  of the Company  will receive any finder's  fee,  either  directly or
indirectly,  as a result of their respective  efforts to implement the Company's
business plan outlined herein.

No retirement,  pension,  profit sharing,  stock option or insurance programs or
other  similar  programs have been adopted by the Company for the benefit of its
employees.

As of July 31, 2010, there were no equity compensation plans in effect.

ITEM 12 SECURITY  OWNERSHIP  OF CERTAIN  BENEFICIAL  OWNERS AND  MANAGEMENT  AND
        RELATED STOCKHOLDER MATTERS

The following table sets forth certain information as of the date of this Report
with respect to the beneficial  ownership of the outstanding common stock of the
Company  by (i) any  holder of more than  five  (5%)  percent;  (ii) each of the
Company's  executive officers and directors;  and (iii) the Company's  directors
and executive officers as a group. Unless otherwise indicated below, the persons
and entities named in the table have sole voting and sole investment  power with
respect to all shares  beneficially  owned.  The percentage of class is based on
650,225  shares of common  stock issued and  outstanding  as of the date of this
Report.

                                           Amount of Beneficial    Percentage of
Name and Address of Beneficial Owner            Ownership              Class
------------------------------------            ---------              -----
Lisa Guise                                       493,750               75.94%
c/o American Telstar, Inc.
36 Mclean Street, Red Bank, NJ 07701

Ranji Bedi                                        95,000               14.61%
9889 Santa Monica Boulevard, Suite 205
Beverly Hills, CA  90210

Officers and Directors as a group (1 person)     493,750               75.94%

ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

The Board of Directors has passed a resolution  which contains a policy that the
Company will not seek an  acquisition  or merger with any entity in which any of
the Company's Officers, Directors, principal shareholders or their affiliates or
associates  serve  as  officer  or  director  or hold  any  ownership  interest.
Management is not aware of any  circumstances  under which this policy,  through
their own initiative may be changed.

The proposed  business  activities  described  herein  classify the Company as a
"blank check" company. Many states have enacted statutes,  rules and regulations
limiting the sale of securities of "blank check"  companies in their  respective
jurisdictions.  Management does not intend at this time to undertake any efforts
to cause a market to develop in the Company's  securities until such time as the
Company has successfully implemented its business plan described herein.

ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES

On  August  4,  2010,  the  Company  retained  Paritz  &  Company,  P. A. as its
independent registered public accounting firm for the fiscal year ended July 31,
2010.  The Company did not use an  independent  auditor in the prior fiscal year
because the Company was an inactive company as defined by Regulation  S-Xss.210.
3-11 and audited financial statements were not required to be presented.  During

                                       21
<PAGE>

the year ended July 31, 2009, the total fees billed for  audit-related  services
was $0, for tax services was $0 and for other  services was $0.  During the year
ended July 31,  2010,  the total  fees  billed for  audit-related  services  was
$6,000.00, for tax services was $0 and for all other services was $0.

                                     PART IV

ITEM 15 EXHIBITS, FINANCIAL STATEMENT SCHEDULES

Exhibit No.                        Description
-----------                        -----------
  3.1         Articles of Incorporation (1)
  3.2         Certificate of Amendment of Articles of Incorporation dated
              December 16, 1988 (1)
  3.3         Articles of Reinstatement dated June 21, 1996 (1)
  3.4         Articles of Reinstatement dated September 7, 1999 (1)
  3.5         By-Laws (1)
 31           Certification of Principal Executive Officer and Principal
              Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley
              Act of 2002
 32           Certification of Principal Executive Officer and Principal
              Financial Officer to 18 U.S.C. Section 1350, as Adopted Pursuant
              to Section 906 of the Sarbanes-Oxley Act of 2002

----------
(1)  Incorporated herein by reference from the Company's  Registration Statement
     on Form 10-SB filed with the Securities and Exchange  Commission on January
     3, 2007.

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<PAGE>
                                   SIGNATURES

Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities  and
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                        AMERICAN TELSTAR, INC.


Date: October 20, 2010                  By /s/Lisa Guise
                                           -------------------------------------
                                           Lisa Guise
                                           President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  registrant and
in the capacities and on the dates indicated:


/s/ Lisa Guise                  President, Chief Executive      October 20, 2010
----------------------------    Officer and Director
Lisa Guise                      (Principal Executive Officer)
                                (Principal Financial and
                                Accounting Officer)


      SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT
 TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES
                       PURSUANT TO SECTION 12 OF THE ACT

The  registrant  has not  furnished  to its  security  holders an annual  report
covering its fiscal year ended July 31, 2010 or any proxy  material with respect
to any annual or other  meeting of  security  holders,  nor will the  registrant
furnish such  material to its security  holders  subsequent to the filing of its
annual report on this Form 10-K.

                                       23