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17/457,153 | 61184.06US01:SYSTEM AND METHOD FOR FACILITATING A PUBLIC OFFERING ON AN IMMUTABLE BLOCKCHAIN PROVIDED TO ELIGIBLE QUALIFIED INVESTORS BASED UPON PRIORTY OF INTERESTPUBLIC VIEW
Application #
17/457,153
Confirmation #
5312
Attorney Docket #
61184.06US01
Patent #
-
Filing or 371 (c) date
12/01/2021
Status
Allowed -- Notice of Allowance Not Yet Mailed 05/10/2024
In the first infomercial the CEO comments that securities were already being traded legally on a blockchain in the form of tokens. The video is linked in post# 12668 below with the comment at about 9:30 into the segment.
Tokenized Stocks: The Future of Stock Trading
The INX Digital Company INC | April 8, 2024
https://www.inx.co/learn/beginners/tokenized-stocks-the-future-of-stock-trading/#:~:text=A%20tokenized%20stock%20is%20a,versions%20of%20well%2Dknown%20companies.
Stock exchanges have been the cornerstone of traditional finance, giving investors the ability to buy and sell shares. A new innovation has emerged in how stocks are issued and managed called tokenized stocks. Tokenization involves the issuance of digital security tokens on a blockchain. These tokens can represent various things, from loyalty points to real estate ownership.
Bubae
Re: Joe DiMaggio post# 12658
Monday, April 01, 2024 10:43:53 AM
Post# 12668 of 13782
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174150905
Want to talk about tokenized securities? The CEO talked about securities that are ...currently are traded LEGALLY in the form of tokens securitized by common stock which is thrown into a blockchain. Link to that infomercial below where the CEO makes the statement starting at about 9:30 into the segment.
It actually goes much further than to just say the the Blackstar method "...is to trade SECURITIES..." What Blackstar has proposed to do for years is trade “book-entry shares” on a blockchain ledger. The same class of shares which is already traded on ordinary trading platforms. Not only is Blackstar not allowed to use their trading platform but it would appear that the evolution of digital securities has eclipsed what Blackstar proposes to do. Securities are already being traded on a blockchain in the for of tokenized stocks.
The INX Digital Company INC | April 8, 2024
https://www.inx.co/learn/beginners/tokenized-stocks-the-future-of-stock-trading/#:~:text=A%20tokenized%20stock%20is%20a,versions%20of%20well%2Dknown%20companies.
Stock exchanges have been the cornerstone of traditional finance, giving investors the ability to buy and sell shares. A new innovation has emerged in how stocks are issued and managed called tokenized stocks. Tokenization involves the issuance of digital security tokens on a blockchain. These tokens can represent various things, from loyalty points to real estate ownership.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 18
The core platform has been designed for initial use with BlackStar common stock and is thus the BlackStar Digital Trading Platform™ (BDTP). Our BlackStar Electronic Fungible Shares (BEFS) are proposed to be the initially traded securities on the blockchain on the BDTP™ platform and the rights and privileges to each shareholder of the BEFS is the same as certificated shares of common stock of BlackStar. BEFS are the same class of common stock as, and are identical to, paper certificated and book-entry shares of common stock; BEFS merely describes the format of the share of common stock...
The BEFS are not “tokens” or “crypto tokens”. A “token” is generally understood to be a unit of value that blockchain-based organizations or projects develop on top of existing blockchain networks. While they often share compatibility with the cryptocurrencies of that network, they are a wholly different digital asset class....
Page 19
In contrast, the BEFS are simply uncertificated shares of stock of BlackStar, which are commonly referred to as a “book-entry shares” in DTC and transfer agent parlance or, as we refer to them, “electronic fungible shares.” Shares held in uncertificated book-entry form have the same rights and privileges as shares held in certificate form. The BEFS simply flow in and out of the existing trading system, exchanges, or OTC Markets through DTC and broker-dealers in uncertificated book-entry form....
Page 38
THE COMPANY MAY FACE REPUTATIONAL HARM, LOSS OF FINANCING, STOCK PRICE VOLATILITY, AND/OR LOW DEMAND FOR SERVICES BY PROXIMITY TO THE CRYPTO ASSET MARKET.
The Company does not operate in the crypto asset markets, does not have crypto asset holdings, and is not proposing to participate in the crypto asset industry, including crypto securities, crypto currencies, and tokens. The use of a blockchain in our proposed platform often gets conflated with crypto asset markets due to blockchain’s use in those industries as well.
SEC Correspondence vetting the s-1 Prospectus February 13, 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000009/filename1.htm
Page 4
There are no differences between the common shares traded OTC and the electronic fungible shares traded through the BDTP™.
Bitcoin is not a security. The patent is to trade SECURITIES. So yeah, no infringement. Even a broken clock is correct twice a day.
Unfortunately those New to the Street Videos from 2022 aren't available.
New to The Street TV Signs BlackStar Enterprise Group, Inc. to a 3-Month TV Series
June 02, 2022 09:00 ET
https://www.globenewswire.com/en/news-release/2022/06/02/2455264/0/en/New-to-The-Street-TV-Signs-BlackStar-Enterprise-Group-Inc-to-a-3-Month-TV-Series.html
Peter Penny
Re: None
Friday, October 28, 2022 9:15:34 PM
Post# 1886 of 13779
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170318584
Facts with links to the company's own print. Try it sometime in defending this share selling scheme if you can. They have a history of promoting and share selling of this trading platform narrative. As of May 5th, one year to the day, the company has added 1,056,870,102 new shares. All but 104,643,939 of those shares came in Q2 2023 and later when it looks like they were queueing up shares for the November festivities. Since September 30th 2023 they have issued 495,744,512 shares. GS Capital had 257,704,832 shares to dump priced at $0.00006 after the stay expired on February 15th. That is the game that is being played here plain and simple straight from the company's own print.
Bubae
Re: None
Wednesday, April 10, 2024 2:42:03 PM
Post# 12893 of 13778
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174213682&txt2find=street%2B2022
Bubae
Re: None
Saturday, May 04, 2024 7:47:06 PM
Post#13665 of 13671
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174359031&txt2find=Capital%2Bconversions
For the quarterly period ended March 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000051/begi-20230331.htm.htm
As of May 5, 2023, there were 683,446,845 shares of the registrant’s common stock, $0.001 par value, issued and outstanding, not including shares reserved for conversion of notes.
During the three months ended March 31, 2023, the Company issued shares of its common stock as follows:
104,643,939 shares for conversion of $33,927 principal and interest on convertible notes payable.
Well that is nonsense. These are METHOD patents to begin with. What a patent provides is the right to defend your idea in court if you believe someone is infringing. Blackstars method depends on Amazons product and by their own admission "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how... " They started with the trading platform idea years ago and now have penciled in a couple of new ideas to the template which are nothing but paper at this point. They still are unable to use the trading platform to trade even Blacskstar's stock so we really don't even know if it works. Just that it isn't allowed to operate. More details and the video in post #13005.
Bubae
Re: None
Monday, April 15, 2024 9:11:48 AM
Post# 13005 of 13777
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174237993
As filed with the U.S. Securities and Exchange Commission on June 16 , 2023
https://www.otcmarkets.com/filing/html?id=16735041&guid=RoJ-kKyjFy5HJth
RISK FACTORS RELATED TO OUR PLATFORM AND BLOCKCHAIN/DISTRIBUTED LEDGER TECHNOLOGY
IF WE ARE UNABLE TO PROTECT THE CONFIDENTIALITY OF OUR TRADE SECRETS, OUR BUSINESS AND COMPETITIVE POSITION COULD BE HARMED.
Significant elements of our intended products and services are based on unpatented trade secrets and know-how that are not publicly disclosed. In addition to contractual measures, we try to protect the confidential nature of our proprietary information using physical and technological security measures.
INTELLECTUAL PROPERTY RIGHTS CLAIMS MAY ADVERSELY AFFECT THE DISTRIBUTE LEDGER TECHNOLOGY.
Third parties may assert intellectual property claims relating to their source code, including Distributed Ledger Technology. Regardless of the merit of any intellectual property or other legal action, any threatened action that reduces confidence in distributed ledger technology’s long-term viability may adversely affect an investment in us.
Overview of the BDTP™ Platform
Blackstar has built the technology based upon the Quantum Ledger Database, a blockchain framework from Amazon Web Services (“AWS”), and to use the AWS Cloud for transaction data storage. The BDTP™ would offer a web-based interface for trading transactions as well as an Application Programming Interface (API) that directly accesses all transactions stored on the BDTP™. In June 2020, BlackStar and Artuova, a custom software development company, successfully completed a production ready user interface for the BDTP™ platform, which is feature-complete.
Not necessarily everyone. You only know patents are good when you get licenses or start sueing people. If neither happens, then there are work arounds. And those two morons know nothing about patent validity here, so no point to even read their drivel. That is if you are one of the few to not have them on ignore.
100% wrong. Anyone who trades other than Blackstar would be infringing on their patent. You can’t just ask for a patent and get one you have to go through a process which takes time and money. Once awarded a patent it’s set in stone and a company can can stop people from infringing or make a licensing agreement with that company. Blackstar has a very bright future ahead. Some should do their research instead of Copy And Paste.
Good point Spacesonic! Bubae and Burner seem to be talking to themselves now, many have them on ignore. Beware of long emails....They have ulterior motives and many are wise to them now.
Really all that needs to be known about this stock is that the narrative the CEO spins in the infomercials is betrayed by his history and what is in print in the S-1 prospectus and quarterly filings. What he is doing is promoting the debt conversions which are priced so low that they are getting a pittance for debt relief. As of May 5th, one year to the day, the company has added 1,056,870,102 new shares. All but 104,643,939 of those shares came in Q2 2023 and later when it looks like they were queueing up shares for the November festivities.
We know that they have a total of five infomercials since the beginning of the year. Since just February 15th when the stay was lifted the CEO's infomercials helped GS Capital sell more than 270 million shares priced at $0.00006 that were awarded from the lawsuit to date. We have a window here now for Adar Alef or SE Holdings to move some of their defaulted debt but it isn't looking good. The two new ideas penciled into the method patent template aren't generating much liquidity and they certainly won't be generating any revenue anytime soon. By the end of June those restricted shares representing some bills that needs to be paid will be ready. Details in post# 13728 linked below. What I see is a share structure that will likely get blown out by the end of the year just in time for the bench trial for the GS Capital lawsuit is in January 2025. GS Capital may want to demand a cash settlement for legal fees and damages instead of shares. 😆
Bubae
Re: burner67 post# 13724
Tuesday, May 07, 2024 10:14:24 PM
Post# 13728 of 13771
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174376080
How can you be so bearish and have so much information? You must be using AI because it's inaccurate. Are you trying to get all of the shares? Because BEGI gained my account than other stocks.
First, the use of the word technology with Blackstar's product lacks context. They have developed a method to record trading transactions using Amazons Amazon Web Services (“AWS”) product. There is no difference in how trades are processed by the "...broker-dealer who is also an ATS...". The role of the blockchain ledger is to securely record the transactions. The need to partner with a broker / dealer ATS is the issue. This is apparently an obstacle for anyone who may be interested in using it. None of this even matters since the trading platform hasn't been approved to operate. This has been the case for years but it won't get mentioned in the infomercials. It is all about what they are going to do, not what they are able to do.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 5
BlackStar Digital Trading Platform TM (“BDTP TM”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP TM has not been approved by any regulatory agency or broker dealer and is not currently operational.)
Page 16
Overview of the BDTP™ Platform
BlackStar intends the BDTP™ to be a tool for trading securities within the existing FINRA and SEC regulated brokerage ecosystem, addressing many of the regulatory issues by operating within the existing confines of the system. For example, customers will continue to use brokerage accounts and broker-dealers and the transfer agent will continue to maintain the shareholder records...
SEC Correspondence vetting the S-1 prospectus February 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000009/filename1.htm
Page 5
The process for trades from book-entry form is explained in bullet point 1. The blockchain trading platform uses the same protocols as many registered Alternative Trading Systems (ATS). BlackStar has built the technology based upon the Quantum Ledger Database, a blockchain framework from Amazon Web Services (“AWS”), and to use the AWS Cloud for transaction data storage.
The shareholder does not use a wallet with BDTPTM but will use a traditional customer account at a registered broker-dealer. The broker will invite their customers to trade on the private blockchain through the user interface of BDTPTM. The customer-facing interface would allow the broker-dealer client to initiate a trade. The BDTPTM will partner with a broker-dealer who is also an ATS or an exchange, or will simply partner with an ATS, in order to host the quotes and operate the market. The Host of BDTPTM then records the transactions to the blockchain, creating an immediate and permanent transaction log.
How does Blackstars technology converge with the FINRA T+1 settlement change?
Clearly you need to conduct a little due diligence. Blackstar has nothing to do with the crypto currency market at all. They haven't even developed anything that approaches a new technology. They have managed to get the patent office to approve their system and method to do a few apications written to run on Amazon's blockchain ledger product. That is all. To date we see a proposed trading platform that hasn't been allowed to operate for years and couple of new ideas with that are nothing but paper at this point. Meanwhile this CEO runs infomercials to sell the debt conversions. You dont see that very often. Buy up, there is a ton of new shares in the pipeline snd it doesn't look as if as many are buying the story now. They need volume and a lot of it.
Not true. Bitcoin has been traded on blockchain ever since it started trading. Blackstar just got their patent approval 12/26/2023. There is no infringement.
Blackstar has a 20 year window. I checked myself with a friend who’s a patent attorney. Right now bitcoin is infringing on the patent. Long or short who cares what’s legal and what’s not is all that matters.
No one is infringing on anything. Blackstsr can't even use the trading platform idea and the other two are nothing but paper at this point rolled out quickly to sell shares. The CEO said himself in the first infomercial stated that securities are already traded legally on a block chain in the form of tokens.
Most likely they will have to find a new auditor and the due diligence on the auditors end will take a few weeks or more.
You make it sound like Blackstar’s technology is the ONLY one that can be used to trade stocks using blockchain. If you believe that then you’re wrong. Any company can do it. They just can’t do it the exact same way that Blackstar does it. You do understand that right?
I would assume that you UNDERTHINK A LOT since you casually bash a small company that the wider world is unaware of and whom has possession of a 20 YEAR PATENT TO TRADE STOCKS USING BLOCKCHAIN! You can bash and disavow the future of stock trading all you want.......but it is still coming and it will become reality.
Yeah I don't think that's overthinking. It very logical. Hey.....a 70 year old guy with a bachelor's degree from Colorado State thought of something that the brightest people from Fidelity, Merrill, Schwab, MIT, and Stanford never thought of! Amazing! 😂
Over intelligent people tend to over think shit.
People said the internet was going to replace us. It didn't. What are the chances a 70 year old man, one employee company comes up with an idea that the smartest people from Schwab, Fidelity, Merrill Lynch, or any of the large hedge funds didn't think about? Hmm....
Your post history is going to look really really stupid when the world begins trading stocks using blockchain in a couple of years. If you were around in the 1980's, you would've been the floor trader who said "Nah, the internet will never replace us, it has nothing to do with stock trading".......
I don't fight the future, I invest in it.
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2 0 2 4
Marc, you lack common sense. And thanks for liking your own posts. At least someone does 🤣
20 year patent = 1st movers advantage.
Stop trying to scare people with your daily lies and con man tactics.
Anyone can trade securities on the blockchain. They just can't do it the exact same way, step by step, that Blackstar will try and do it. Think about disc brakes on a car. The first company to do it was Lancaster Motor Company in 1902 and they had a patent. How many companies make disc brakes now? Lots. MICO, LEED, Tolomatic, Delphi. They just use a different method. So don't think Blackstar will be the only company allowed to do this. Now I'll wait for the clown emojis for those that don't like this post.
Has anyone sent a note to Joe about infringers? Most patent holders are not afraid to name them.
There's a lot of mom and pop start ups out there, Tzero and the Boston Exchange may be the biggest in the US.
Now the question is who is infringing putting securities on the block chain?
This is the 3rd patent that will be issued, there are duplicate patents applied for regarding centralized and decentralized blockchain, so Joe K. is several moves ahead on the patent protection chess board. I'm confident.
Is this the 2nd or the 3rd
If someone buys those patents they won’t have to pay much for them. Millions? Doubtful. Everyone here except a few thinks this is the future of stock trading. Based on what? The words blockchain and patent?
Your response did not deter me from investing. It lacks support because the patents are going to be licensed or purchased. That 2 years of development will profit someone.
I wouldn't get too excited about any private placement talk. Take a look at the annual to see the costly series of 14 notes payable since March 2023 that have maturities of a year and less for where funding is now coming from. These notes have free shares as sweeteners. It doesn't look as if anyone has the confidence in what Blackstar is promoting to buy into a preferred offering. The filings are littered for years with "We may offer" and "We intend to offer" with regard o this subject of private placement. The only preferred shares are those series "A" shares held by the estate of John Noble Harris and Joseph E. Kurczodyna, the current CEO. These shares represent "Super Majority Voting" power concerning all matters of business for this company.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 21
Existing Financing
For the quarterly period ended September 30, 2019
https://www.otcmarkets.com/filing/html?id=13749875&guid=LKJ-kKMYSj77B3h
For the quarterly period ended September 30, 2020
https://www.otcmarkets.com/filing/html?id=14505798&guid=LKJ-kKMYSj77B3h
For the quarterly period ended September 30, 2021
https://www.otcmarkets.com/filing/html?id=15353758&guid=LKJ-kKMYSj77B3h
https://www.otcmarkets.com/filing/html?id=16214300&guid=LKJ-kKMYSj77B3h
For the quarterly period ended September 30, 2023
https://www.otcmarkets.com/filing/html?id=17069009&guid=LKJ-kKMYSj77B3h
The latest 8-K Risk factors show they will seek 5 million from a possible offering. I'm impressed how they explained the emerging growth markets requirements and funding. How does the auditor ban affect the stock since its verified?
Joe said that SEC approval will take 1-3 years. Where is he in this process? He needs to talk about it.
In case you didn't know Marc, any company can create a way to trade stocks using blockchain technology. They just can't do it/use the same process that Blackstar does. The patent is for their WAY of trading using blockchain, not trading using blockchain.
Makes sense...thanks
Why would it be dumb Marc? If someone hadn't paid a thousands of dollars loan back to you from 2 years agon, you wouldn't sue them? Of course you would. Duh.
It's not an asset if companies don't see the need for it. And so far....nothing. Except Joe said he is getting 'lots of calls'. How about some specifics about those calls? If he doesn't share those details in the next infomercial, be skeptical.
You mean the trading platform that "...has not been approved by any regulatory agency or broker dealer and is not currently operational..." Hear about any discussions with the SEC lately in any of the five infomercials? What did Blackstar say in March 2023? "...The BDTP™ is not yet functional and may never be functional." Is that the method patent that you are referring to?
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Definitions
BlackStar Digital Trading Platform TM (“BDTP TM”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP TM has not been approved by any regulatory agency or broker dealer and is not currently operational.)
BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023 10:30 AM
https://www.accesswire.com/743761/blackstar-enterprise-group-inc-provides-registration-statement-update
We anticipate initiating formal discussions with the SEC and its relevant divisions and offices, including the Division of Trading and Markets, within the next six months with respect to seeking the approval or clearance of our shares being eligible to be traded on our BDTP™ platform. We believe it may take an additional six to nine months to address SEC comments and questions, and there is no assurance that we will be successful in our shares being approved or cleared for trading on our BDTP™ platform. The BDTP™ is not yet functional and may never be functional.
Yeah.......and who on planet earth would ever agree that a 20 YEAR PATENT TO TRADE STOCKS WITH BLOCKCHAIN isn't an asset.......
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B U L L I S H ! ! ! ! ! ! !
Blackstar doesn't have much in terms of assets to go after. All those lenders can do is hope for an opportunity to convert that debt. Diagonal lending for some reason beat everyone to the conversion game with their nearly 600 million shares in 2023 to take advantage of the current promotional period. What they knew and when did they know it, right? Then GS Capitals lawsuit and the partial conversions 257,704,832 million shares priced at $0.00006 for 2024. SE Holdings and Adar Alef needed to wait their turn in my opinion. Besides, Adar Alef banked an obscene profit with their conversion of $13,455 principal into 62,100,00 shares back in November while the stock was on its way to a penny.
As for the SEC question. New 8K out this morning show that they have been dealing with a shady auditor. According to the 8K their auditor, Borgers, ....agreed to a permanent ban on appearing or practicing before the SEC...
FORM 8K
Date of report (Date of earliest event reported): May 3, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000058/blackstarauditor8k.htm
The U.S. Securities and Exchange Commission (the “SEC”) has advised that, in lieu of obtaining a letter from BF Borgers stating whether or not it agrees with the statements herein, the Company may indicate that BF Borgers is not currently permitted to appear or practice before the SEC for reasons described in the SEC’s Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order, dated May 3, 2024.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page F-13
ADAR ALEF, LLC
In November 2023, Adar Alef issued a notice of conversion for a partial conversion of $13,455 principal into 62,100,00 shares of the Company’s common stock at a price of $0.0002167 per share under the conversion provision and terms of the note agreement.
Because that would be dumb and just as completely stupid and deceptive as all of your post history regarding BEGI.
Any thoughts on why Adar or SEC haven’t taken Blackstar to court?
Overview
BlackStar Enterprise Group, Inc. (the “Company” or “BlackStar”) intends to act as a merchant bank as of the date of these financial statements. We currently trade on the OTC Pink Sheets under the symbol “BEGI”. The Company is a merchant banking firm seeking to facilitate venture capital to early-stage revenue companies. BlackStar intends to offer consulting and regulatory compliance services to crypto-equity companies and blockchain entrepreneurs for securities, tax, and commodity issues. BlackStar is conducting ongoing analysis for opportunities in involvement in crypto-related ventures though our wholly-owned subsidiary, Blockchain Equity Management Corp., (“BEMC”), mainly in the areas of blockchain and distributed ledger technologies (“DLT”). BEMC is currently non-operational, inactive and has no business or clients at this time. It is intended to offer advisory services as to how to implement use of a custom platform for the client’s equity based off of the BDTPTM. BEMC has not established any anticipated time frames or key milestones for BEMC business. BlackStar intends to serve businesses in their early corporate lifecycles and may provide funding in the forms of ventures in which we control the venture until divestiture or spin-off by developing the businesses with capital. We have only engaged in one transaction as a merchant bank form to date.
Our investment strategy focuses primarily on ventures with companies that we believe are poised to grow at above-average rates relative to other sectors of the U.S. economy, which we refer to as "emerging growth companies." Under no circumstances does the Company intend to become an investment company and its activities and its financial statement ratios of assets and cash will be carefully monitored and other activities reviewed by its Board of Directors to prevent being classified or inadvertently becoming an investment company which would be subject to regulation under the Investment Company Act of 1940.
As a merchant bank, BlackStar intends to seek to provide access to capital for companies and is specifically seeking out ventures involved in DLT or blockchain. BlackStar intends to facilitate funding and management of DLT-involved companies through majority controlled joint ventures through its subsidiary BEMC BlackStar, through BEMC, intends to initially control and manage each venture. Potential ventures for both BlackStar and BEMC will be analyzed using the combined business experience of its executives, with BEMC looking to fill those venture criteria with companies in crypto-related businesses such as blockchain or DLT technologies. The Company does not intend to develop Investment Objectives or “criteria” in any manner but will rely on the acumen and experience of its executives. BEMC is currently non-operational, inactive and has no business or clients at this time. It is intended to offer advisory services as to how to implement use of a custom platform for the client’s equity based off of the BDTPTM. BEMC has not established any anticipated time frames or key milestones for BEMC business.
BlackStar is currently developing a blockchain-based software platform (“BDTP TM”) to trade electronic fungible shares of our common stock equal to the shares held and transferred by DTCC Brokers (DWAC). Once completed, the platform design might enable us to license the technology as a Platform as a Service (“PaaS”) for other publicly traded companies, providing revenue to finance our merchant banking. The completion of our software platform depends on our ability to license it to an existing
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