NEW YORK, NY / ACCESSWIRE / August 4, 2023 / International Star Inc. (OTC PINK:ILST), a listed company operating at the intersection of the entertainment and cannabis industries, recently announced its Strategic Plan for 2023-2024, emphasizing a unique approach to leverage popular culture IPs and celebrity endorsements.
International Star operates through its wholly-owned subsidiary, Budding Equity Inc., led by Dan Rubin.
The company owns intellectual property contracts with movie studios, allowing licensing of that IP to third parties for cannabis hardware. The company also partners with celebrities to license and brand cannabis products.
Its most significant entertainment IP properties include collaborations and partnerships with a wide array of studios and iconic cannabis culture celebrities. These connections highlight the integration and acceptance of cannabis culture within mainstream entertainment.
Among the brands managed by ILST are Ice Cube's Good Day and Fryday lines of direct cannabis products; Kevin Smith's Snoogens, Berzerker, and Snoochie Boochies cannabis offerings or Jay and Silent Bob accessories.
The company works with major licensing partners such as Paramount's (NASDAQ:PARA) Cheech and Chong Up in Smoke, Sony's (TYO: 6758) Pineapple Express, or Trailer Park Boyz.
The company's strategy has evolved in the last six months from exclusively relying on third-party IP to developing its own IP. That shift will allow the company to have more control over its products and brands, fostering innovation and creating unique offerings that resonate with our target audience.
By investing in its own intellectual property, ILST wants to ensure that its mission as a company in the forefront of the cannabis culture and industry is clear, strengthening its market position and providing a more significant competitive edge.
Recently, the company announced its decision to produce the horror-thriller movie All My Friends Are Dead, starring Jojo Siwa.
Following the acquisition of Budding Equity Inc. in February 2023, ILST has focused on integrating aspects of the entertainment world into the cannabis industry. The strategic plan details how ILST intends to expand celebrity partnerships, monetize entertainment IPs, and make strategic IP acquisitions.
"We are leveraging the relationships that we have built in Hollywood acquire meaningful and monetizable IP," Dan Rubin, CEO of Budding Equity said. "We are also pioneering a new method of product integration in movies, which we believe will differentiate us in the cannabis industry."
The 2023-24 plan emphasizes ILST's objective to increase internal revenue growth and shareholder value. These goals will be achieved through maximizing partnerships and leveraging the company's unique position in the cannabis and entertainment industries.
ILST's 2023-2024 strategic plan also focuses on expanding its intellectual property portfolio. By utilizing Budding Equity's intellectual property rights, ILST plans to broaden its product range with IPs related to licensed cannabis accessories, appealing to a more diverse consumer base.
Additionally, the company aims to identify and acquire additional IP assets within the entertainment industry that align with its brand vision and can be integrated into the cannabis industry.
The strategic plan emphasizes ILST's commitment to increase shareholder value. This involves delivering consistent financial performance underpinned by transparency, integrity, and adherence to the highest standards of corporate governance.
Nochum Greenberg, Interim CEO of International Star Inc., shared his perspective: "We're at a unique crossroads where the entertainment and cannabis industries converge, and this strategic plan sets a clear path for us to leverage this position. We aim to create a diverse range of high-quality, celebrity-endorsed cannabis products and accessories that captivate the market. By integrating aspects of the entertainment world into our cannabis offerings, we're pioneering a whole new segment of the industry. I'm confident this approach will deliver growth and increased shareholder value, making ILST a leader in this innovative space."
The entire strategic plan is available for download at: https://www.otcmarkets.com/otcapi/company/dns/news/document/68344/content
Forward-Looking Statements
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Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time concerning future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including factors beyond the Company's control. As a result of these and other risks, uncertainties, and assumptions, forward-looking events and circumstances discussed herein might not occur in the way the Company expects or at all. Accordingly, readers should not place reliance on any forward-looking information or statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise. All forward-looking statements herein are qualified by reference to the cautionary statements outlined in this section.
Contact:
International Star, Inc.
8 The Green
Suite 13940
Dover, DE 19901
Website: https://ilstinc.com/investors/
E-mail: Investors@ilstinc.com
SOURCE: International Star, Inc.
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