UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-K/A Amendment No. 1  [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2010  OR [  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For transition period ___ to ____   Commission file number: 000-33399  NOVA STAR INNOVATIONS, INC. (Exact name of registrant as specified in its charter) Nevada
(State or other jurisdiction of incorporation or organization)90-0369457
(I.R.S. Employer Identification No.)#281, 369 East 900 South, Salt Lake City, Utah
(Address of principal executive offices)84111
(Zip Code)  Registrants telephone number, including area code:  (801) 323-2395  Securities registered under Section 12(b) of the Act:  None  Securities registered under Section 12(g) of the Act:  Common Stock  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 Exchange Act.    Yes [   ]   No [X]  Indicate by check mark whether the registrant (1) 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 (§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  [X]   No [  ]  Indicate by check mark if disclosure of delinquent filers pursuant to item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this 10-K.       [X]  1   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.: Large accelerated filer [  ]
Non-accelerated filer [  ]Accelerated filed [  ]
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 [   ]  The registrant did not have an active trading market for its common stock as of the last business day of its most recently completed second fiscal quarter; therefore, an aggregate market value of shares of voting and non-voting common equity held by non-affiliates cannot be determined.  The number of shares outstanding of the registrants common stock as of November 1, 2011 was 18,000,000.  Documents incorporated by reference:  None  TABLE OF CONTENTS  PART II  Item 8.  Financial Statements and Supplementary Data 3 Item 9A.  Controls and Procedures 13  PART III Item 14.  Principal Accounting Fees and Services 13  PART IV Item 15.  Exhibits, Financial Statement Schedules 14 Signatures 15   EXPLANATORY NOTE  Based upon a limited review of our periodic reports by the Securities and Exchange Commission staff, on July 26, 2011 the Company received written staff comments regarding our annual report on Form 10-K for the year ended December 31, 2010.  The staff comments requested revisions to the Report of Independent Registered Public Accounting Firm and the reaudit of the cumulative period financial information.  In response to these staff comments we have reaudited the cumulative period and provided the appropriate auditors report in this amendment.  In addition, the staff requested that the Company revise the language in Item 9A to specifically state that our controls and procedures were ineffective for the period covered by the report.  We have also made a correction to the amount of audit fees listed under Part III, Item 14.  Other than these changes, this amended report does not include subsequent events.  In this report references to Nova Star, we, us, our and the Company refer to Nova Star Innovations, Inc.  FORWARD LOOKING STATEMENTS  The Securities and Exchange Commission (SEC) encourages companies to disclose forward-looking information so that investors can better understand future prospects and make informed investment decisions.  This report contains these types of statements.  Words such as may, expect, believe, anticipate, estimate, project, or continue or comparable terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements.  You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report.  All forward-looking statements reflect our present expectation of future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially  2   from those described in the forward-looking statements.   PART II  ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA     NOVA STAR INNOVATIONS, INC.  (a Development Stage Company)  Financial Statements  December 31, 2010 and 2009    INDEX   Report of Independent Registered Public Accounting Firm 4  Balance Sheets 5  Statements of Operations 6  Statements of Stockholders Equity 7  Statements of Cash Flows 8  Notes to the Financial Statements 9  3   MORRILL & ASSOCIATES, LLC CERTIFIED PUBLIC ACCOUNTANTS 563 WEST 500 SOUTH, SUITE 425 BOUNTIFUL, UTAH 84010 801-546-9068 PHONE; 801-546-8211 FAX  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM   To the Board of Directors and Stockholders Nova Star Innovations, Inc. (A Development Stage Company) Salt Lake City, Utah  We have audited the accompanying balance sheets of Nova Star Innovations, Inc. (a development stage company) as of December 31, 2010 and 2009 and the related statements of operations, stockholders deficit and cash flows for the years then ended and for the period from inception on April 25, 1986  through December 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 audits.  We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit 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 audit 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 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 audit provides 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 Nova Star Innovations, Inc. (a development stage company) as of December 31, 2010 and 2009 and the results of its operations and cash flows for the year ended December 31, 2010 and for the period from inception on April 25, 1986 through December 31, 2010 in conformity with generally accepted accounting principles in the United States of America.  The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  The Company has suffered recurring losses and has no operations which raise substantial doubt about its ability to continue as a going concern.  Managements plans in regard to these matters are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.   /s/ Morrill & Associates   Morrill & Associates Bountiful, Utah 84010 October 28, 2011    4    Nova Star Innovations, Inc. (A Development Stage Company) Balance Sheets   DEC 31, 2010DEC 31, 2009ASSETSCURRENT ASSETSCash$2,002$1,081Total current assets2,0021,081TOTAL ASSETS$2,002$1,081LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT LIABILITIESAccounts payable$15,325$15,050Advances37,20030,700Total current liabilities52,52545,750Total liabilities52,52545,750STOCKHOLDERS' EQUITYCommon stock, $.001 par value; 20,000,000 shares
authorized; 18,000,000 shares issued and outstanding18,00018,000Additional paid-in capital9,0009,000Deficit accumulated during the development stage(77,523)(71,669)Total stockholders' equity(50,523)(44,669)TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$2,002$1,081    The accompanying notes are an integral part of these financial statements   5   Nova Star Innovations, Inc (A Development Stage Company) Statements of Operations  FOR THE YEAR ENDED DEC 31, 2010FOR THE YEAR ENDED DEC. 31, 2009FROM INCEPTION ON APR 25, 1986 TO DEC 31, 2010Revenues$0$0$0ExpensesGeneral and administrative5,8544,84577,523Total expenses5,8544,84577,523Loss from operations before income taxes(5,854)(4,845)(77,523)Income taxes000Net loss$(5,854)$(4,845)$(77,523)Basic and diluted net loss per share$(0.00)$(0.00)Weighted average shares outstanding18,000,00018,000,000    The accompanying notes are an integral part of these financial statements     6    Nova Star Innovations, Inc.(A Development Stage Company)Statements of Stockholders' EquityFrom Inception on April 25, 1986 through December 31, 2010DeficitAccumulatedAdditionalDuring theCommon StockPaid-inDevelopmentSharesAmountCapitalStageIssuance of shares for marketing rights at inception17,000,000$17,000$-$-Net (loss) for the year ended December 31, 1986---(17,000)Balance - December 31, 198617,000,00017,000-(17,000)Net income (loss) for the years endedDecember 31, 1987 thru December 31, 2000----Balance - December 31, 200017,000,00017,000-(17,000)Net (loss) for the year ended December 31, 2001----Balance - December 31, 200117,000,00017,000-(17,000)Net (loss) for the year ended December 31, 2002---(5,000)Balance - December 31, 200217,000,00017,000-(22,000)Common stock issued for services at $.01 per share1,000,0001,0009,000-Net (loss) for the year ended December 31, 2003---(10,000)Balance - December 31, 200318,000,00018,0009,000(32,000)Net (loss) for the year ended December 31, 2004---(5,000)Balance - December 31, 200418,000,00018,0009,000(37,000)Net (loss) for the year ended December 31, 2005---(5,050)Balance - December 31, 200518,000,00018,0009,000(42,050)Net (loss) for the year ended December 31, 2006---(9,811)Balance - December 31, 200618,000,00018,0009,000(51,861)Net (loss) for the year ended December 31, 2007---(9,986)Balance - December 31, 200718,000,00018,0009,000(61,847)Net (loss) for the year ended December 31, 2008---(4,977)Balance - December 31, 200818,000,00018,0009,000(66,824)Net (loss) for the year ended December 31, 2009---(4,845)Balance - December 31, 200918,000,00018,0009,000(71,669)Net (loss) for the year ended December 31, 2010---(5,854)Balance - December 31, 201018,000,000$18,000$9,000$(77,523)The accompany notes are an integral part of these financial statements   7   Nova Star Innovations, Inc. (A Development Stage Company) Statements of Cash Flows  FOR THE YEAR ENDED DEC 31, 2010FOR THE YEAR ENDED DEC. 31, 2009FROM INCEPTION ON APR 25, 1986 TO DEC 31, 2010Cash Flows from Operating ActivitiesNet loss$(5,854)$(4,845)$(77,523)Adjustments to reconcile net loss to cash provided (used)
by operating activities:Shares issued for services0010,000Depreciation and amortization0017,000Changes in assets and liabilities:Increase in accounts payable275015,325Net cash provided (used) by operating activities(5,579)(4,845)(35,198)Cash Flows from Investing ActivitiesNet cash provided (used) by investing activities000Cash Flows from Financing ActivitiesCash advances received6,5005,00037,200Net cash provided by financing activities6,5005,00037,200Increase (decrease) in cash9211552,002Cash and cash equivalents at beginning of period1,0819260Cash and cash equivalents at end of period$2,002$1,081$2,002Supplemental Cash Flow Information:Cash paid for interest$0$0$0Cash paid for Income taxes$0$0$0Non-Cash Investing and Financing ActivitiesStock issued for marketing rights$0$0$17,000      The accompanying notes are an integral part of these financial statements   8   Nova Star Innovations, Inc. (A Development Stage Company) Notes to the Financial Statements December 31, 2010 and 2009  NOTE 1 - Summary of Significant Accounting Policies  a. Organization & Summary of Significant Accounting Policies  The Company was incorporated in Maine on April 25, 1986 as Hystar Aerospace Marketing Corporation of Maine.  On April 11, 2001, the Company merged with Nova Star Innovations, Inc.  (Nova Star), a Nevada corporation, in a domicile merger.  b. Cash and Cash Equivalents  The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.  c. 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.  d. Fair Value of Financial Instruments  It is not practicable to estimate the fair value of advances (accounts payable) because there is no established market for these loans and it is inappropriate to estimate future cash flows, which are largely dependent on the Company establishing or acquiring operations at some future point.  No financial instruments are held for trading purposes.  e. Reclassification  Certain amounts in prior-year financial statements have been reclassified for comparative purposes to conform to the presentation in the current year financial statements.


NOTE 2 - Going Concern  The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  The Company has current liabilities in excess of current assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.  It is managements plan to acquire or merge with other operating companies


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Nova Star Innovations, Inc. (A Development Stage Company) Notes to the Financial Statements December 31, 2010 and 2009  NOTE 3 - Income Taxes  The Financial Accounting Standards Board (FASB) has issued FASB ASC 740-10 (Prior authoritative literature: Financial Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - An Interpretation of FASB Statement No. 109 (FIN 48). FASB ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with prior literature FASB Statement No. 109, Accounting for Income Taxes.  This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than- not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.  As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740-10.  Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences.  Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.  Deferred tax assets and the valuation account are as follows:   For the Years Ended
December 31,20102009Net operating loss carryforward$     26,357$      24,367Valuation allowance(26,357)(24,367)Deferred tax asset:$               0$               0  The change in the valuation allowance was $ 1,990 during the year ended December 31, 2010.  The components of income tax expense are as follows:  For the Years Ended
December 31,20102009Current Federal tax$                    -$                   -Current State tax--Change in NOL benefit1,9901,647Change in valuation allowance(1,990)(1,647)$                    -$                   -


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Nova Star Innovations, Inc. (A Development Stage Company) Notes to the Financial Statements December 31, 2010 and 2009  NOTE 3 - Income Taxes (continued)  The Company has adopted FASB ASC 740-10 to account for income taxes. The Company currently has no issues creating timing differences that would mandate deferred tax expense. Net operating losses would create possible tax assets in future years. Due to the uncertainty of the utilization of net operating loss carry forwards, an evaluation allowance has been made to the extent of any tax benefit that net operating losses may generate.  A provision for income taxes has not been made due to net operating loss carry-forwards of $ 77,523 and $ 71,669 as of December 31, 2010 and December 31, 2009, respectively, which may be offset against future taxable income through 2029. No tax benefit has been reported in the financial statements.  A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:  For the Years Ended
December 31,20102009Beginning Balance$
-$
-Additions based on tax positions related to current year--Additions for tax positions of prior years--Reductions for tax positions of prior years--Reductions in benefit due to income tax expense--Ending Balance$
-$
-  The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months.  The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes.  As of December 31, 2010 and 2009, the Company had no accrued interest or penalties related to uncertain tax positions.  The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2009, 2008 and 2007.  NOTE 4 -    Accounts Payable and Advances  The Company had recorded $52,250 in liabilities for services received, as well as cash advances received from unrelated parties, as accounts payable as it was the intent of management and the counter parties to issue common stock of the Company at some future date for the amounts received.  However, it was subsequently determined that it was not in the best interests of the parties to issue stock for the advances and, therefore, the parties have agreed that these liabilities will be treated as loans effective January 1, 2011, bearing interest at 8% and due on demand.    11   Nova Star Innovations, Inc. (A Development Stage Company) Notes to the Financial Statements December 31, 2010 and 2009  NOTE 5 - Stockholders Equity  In 1986, the Company issued 17,000,000 shares of common stock for the marketing rights to an airship and a waste milling device.  The value of this issuance was $17,000.  During 2003, the Company issued 1,000,000 shares of common stock, for services rendered, valued at $10,000 (or $.01 per share).  NOTE 6 - Development Stage Company   The Company has no significant operations and is considered a development stage company.  It is concentrating substantially all of its efforts in raising capital and searching for a business operation with which to merge, or assets to acquire, in order to generate significant operations.  NOTE 7 - Subsequent Event  Effective January 1, 2011, the Company has determined to treat $52,250 in advances and accounts payable as non-collateralized loans, bearing interest at 8% and due on demand.  12   ITEM 9A.  CONTROLS AND PROCEDURES  Disclosure Controls and Procedures  We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC.  This information is accumulated to allow timely decisions regarding required disclosure.  Our President, who serves as our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report and he determined that our disclosure controls and procedures were ineffective due to a control deficiency.  During the period we did not have additional personnel to allow segregation of duties to ensure the completeness or accuracy of our information.  Due to the size and operations of the Company we are unable to remediate this deficiency until we acquire or merge with another company.  Managements Annual Report on Internal Control over Financial Reporting  Management is responsible to establish and maintain adequate internal control over financial reporting.   Our principal executive officer is responsible to design or supervise a process that provides reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.  The policies and procedures include: • maintenance of records in reasonable detail to accurately and fairly reflect the transactions and dispositions of assets, • provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and directors, and • provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets that could have a material effect on our financial statements.  For the year ended December 31, 2010, management has relied on the Committee of Sponsoring Organizations of the Treadway Commission (COSO), Internal Control - Integrated Framework, to evaluate the effectiveness of our internal control over financial reporting.  Based upon that framework, management has determined that our internal control over financial reporting is ineffective due to the lack of additional personnel to allow segregation of duties to ensure the completeness or accuracy of our information.  Our management determined that there were no changes made in our internal controls over financial reporting during the fourth quarter of 2010 that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.   PART III  ITEM 14.  PRINCIPAL ACCOUNTING FEES AND SERVICES  Auditor Fees  The following table presents the aggregate fees billed for each of the last two fiscal years by our former accounting firm, Michael J. Larsen, Certified Public Accountant, in connection with the audit of our financial statements and other professional services rendered.      13    20092010Audit fees$   500$ 2,500Audit-related fees00Tax fees00All other fees$           0$          0  Audit fees represent the professional services rendered for the audit of our annual financial statements and the accounting firm review of our financial statements included in quarterly reports, along with services normally provided by the accounting firm in connection with statutory and regulatory filings or engagements.  Audit-related fees represent professional services rendered for assurance and related services by the accounting firm that are reasonably related to the performance of the audit or review of our financial statements that are not reported under audit fees.  Tax fees represent professional services rendered by the accounting firm for tax compliance, tax advice, and tax planning.  All other fees represent fees billed for products and services provided by the accounting firm, other than the services reported for the other categories.  Pre-approval Policies  We do not have an audit committee currently serving and as a result our board of directors performs the duties of an audit committee.  Our board of directors will evaluate and approve in advance the scope and cost of the engagement of an auditor.  We do not rely on pre-approval policies and procedures.   PART IV  ITEM 15.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES  (a)(1) Financial Statements  The audited financial statements of Nova Star Innovations, Inc. are included in this report under Item 8 on pages 3 through 11.  (a)(2) Financial Statement Schedules  All financial statement schedules are included in the footnotes to the financial statements or are inapplicable or not required.  (a)(3) Exhibits  The following documents have been filed as part of this report.  No. Description 3.1 Articles of Incorporation (Incorporated by reference to exhibit 3.1 to Form 10-SB, filed December 10, 2001) 3.3 Bylaws (Incorporated by reference to exhibit 3.2 to Form 10-SB, filed December 10, 2001) 31.1 Principal Executive Officer Certification 31.2 Principal Financial Officer Certification 32.1 Section 1350 Certification  14   SIGNATURES  Pursuant to the requirements of the 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, there unto duly authorized.  NOVA STAR INNOVATIONS, INC.   By:        /s/ Mark S. Clayton  Mark S. Clayton, President Principal Executive Officer Principal Financial and Accounting Officer   Date:  November 8, 2011  15