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EDGAR FILINGS

Year 2004 / June 24

FREESTAR TECHNOLOGY CORPORATION (FSRC.OB)

Changes in Certifying Accountant

ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.

(a) Effective on June 23, 2004, the independent accountant who was previously engaged as the principal accountant to audit the Registrant's financial statements, Stonefield Josephson, Inc., was dismissed. The decision to dismiss this accountant was approved by the Registrant's board of directors. This accountant audited the Registrant's financial statements for the period of May 25, 2001 (date of inception) through June 30, 2002 and for the fiscal year ended June 30, 2003. This firm's report on these financial statements was modified as to uncertainty that the Registrant will continue as a going concern; other than this, the accountant's report on the financial statements for those periods neither contained an adverse opinion or a disclaimer of opinion, nor was qualified or modified as to uncertainty, audit scope, or accounting principles.

During the period of May 25, 2001 (date of inception) through June 30, 2002 and for the fiscal year ended June 30, 2003, and the subsequent interim period preceding such dismissal, there were no disagreements with the former accountant on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. In addition, there were no "reportable events" as described in Item 304(a)(1)(iv)(B)1 through 3 of Regulation S-B that occurred within the period of May 25, 2001 (date of inception) through June 30, 2002 and for the fiscal year ended June 30, 2003, and the subsequent interim period preceding the former accountant's dismissal.

(b) Effective on June 23, 2004, the firm of Russell Bedford Stefanou Mirchandani LLP has been engaged to serve as the new principal accountant to audit the Registrant's financial statements. The decision to retain this accountant was approved by the Registrant's board of directors. During the period of May 25, 2001 (date of inception) through June 30, 2002 and for the fiscal year ended June 30, 2003, and the subsequent interim period prior to engaging this accountant, neither the Registrant (nor someone on its behalf) consulted the newly engaged accountant regarding any matter.

(c) The Registrant has requested Stonefield Josephsonn, Inc. to respond to the Securities and Exchange Commission regarding its agreement with the statements made by the Registrant in this Form 8-K in response to Item 304(a)(1) of Regulation S-B.