The Mobile Star Corp. (OTCPK:MBST) announced a private placement of 16,531,175 at $0.015 per share for gross proceeds of $250,000 on June 8, 2012. New investor Arm Fund Partners, Inc. subscribed to all the shares for 66% stake in the company. The shares were issued pursuant to Regulation D. On June 8, 2012, The Mobile Star Corp. closed the transaction.