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Loving the volume today, hopefully it will contunue to build higher and higher! Surf's up, big waves on the horizon!!!
Blackstar needs a patent appraisal soon.....
Then that is what you see.
I stand to make an asymmetric amount of money or lose some money,
All you stand to gain is "entertainment" while you lose precious time.
I think you need to evaluate your risk-reward principles....just a suggestion.
Blackstar is paying these rates because he has stiffed the institutional lenders. He currently has two convertible notes with principle balances outstanding of $584,079 and matured two years ago. Those notes with interest would be worth North of $800K now. The ongoing GS Capital lawsuit, the settled Quick Capital note that defaulted in April 2022 and so on. As far as talking to the SEC, for years right? Links to the press releases in post# 13005 on that subject. The CEO knows what he needs to do and yet he isn't able to get his own shares trading on their propose platform. I really don't understand why anyone would use it.
Bubae
Re: None
Monday, April 15, 2024 9:11:48 AM
Post# 13005 of 13217
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174237993&txt2find=accesswire
have to admit that I didn't watch the latest infomercial until this morning. FINALLY, this CEO talks about the need to partner with a broker dealer or ATS starting about 2:50 into the video. Why is he suddenly talking about this now? This has been the case for years and the press releases leading up to the October promotional push included this information. If it is legal to use with a broker / dealer or ATS, why is Blackstar not trading their own shares on this proposed trading platform? Finally saying this in a new infomercial is why traders didn't take the bait on April 10th. You didn't hear a peep about this in the March 22nd infomercial that generated 118 million in trading volume. 😆
My eyes are open and that's why it's easy for me not to believe in this company.
Shoot...did I miss the .002s?
Not everything.
However... If you shut your eyes, plug your eyes, and don't take risk at all in life --- you end up bashing penny stocks 24.7 on Ihub... of which you get no benefit or payoff from... aside from valueless "entertainment" while decaying away on a comp.
Very sad.
BlackStar's CEO Joseph E Kurczodyna feels that, when first developed, this audit platform could be a white label product for organizations with government contracts, individuals, new corporations, and government employers, all of whom solicit money from the public...
---
Just read something from RFK: “We’re going to put the entire U.S. budget on the blockchain,” he said in Michigan, “so that every American can look at every budget item in the entire budget any time they want, 24 hours a day.”
The world is going to blockchain, despite what trolls say about the existing infrastructure and systems working just fine.
The legacy systems are working just fine --- just not for the people --- and that will not last.
Forest for the trees.
This is probably the worst time in recent history for capital raising.
Companies with no revenue (yet) have little to no option but to resort to unpalatable terms.
This is not just a BEGI issue. The CEO could have walked away multiple, multiple times and he has not, unless you are privy to some details that I am not?
He is also of older age. Do you think he wants to spend his potentially last decade filing patents, going through months and months of s-1 commentary, going on infomercials to sell, presenting the platform to SECFinHub--- if this was a truly a scam as you say.
He has ongoing dialogue with SEC on the regular, as you have detailed in your links. You don't make yourself available to regulators and authorities, stay compliant with filings(which they don't have to do as a pink sheets company), pay for audits, if your sole goal is to just fleece retail with conversions.
It doesn't add up on many and more fronts.
Just my read of it.
Let's see what he has to say on Friday and dissect.
LIFT OFF!!!!!!!!!!
I have been underestimating the amount of dilution available since this was trading above a penny. The potential is endless with the very old debt that remains. The CEO is even rewarding the new note holders with nice share conversions on just the free shares and fees alone. Blackstar must pay very high predatory rates with shares to keep this scam going. The soaking up of the liquidity on March 22nd with 119 million shares traded tells the story. People here squawked no dilution through the end of 2023 despite what was in print. no one saying that now. Fools and their money.
Bubae
Re: None
Monday, April 22, 2024 5:15:13 PM
Post# 13159 of 13207
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174285425
Blackstar has already written several new notes for 2024 for unrelated individuals totaling $139K, again with more free shares as sweeteners. They borrowed $400K in 2023 with these same terms with those free shares. According to the annual, Blackstar issued 71,250,000 shares of its common stock in 2023, valued at $266,063 in servicing this debt. Sorta, maybe looks like Blackstar is pretty hard up for financing. Where is the mafia when you need a few bucks? 😆 As bad as 71 million shares for financing $400K is, it still pales in comparison of only $200,432 in debt relief for the issuance of 845,162,311 shares in 2023. Wow.
Where else is GS capital getting money to stay afloat?
Hard times for everyone.
Incentives drives behavior.
In any case, BEGI is moving forward on the path to first revenue, as per the CEO comments in the infomercials.
I do hope that he gets a bit more specific as to the ongoings in the next interview.
Please use your other account to reply back - as I have this one on ignore.
Did anyone pay attention to the last filing where Blackstar stated that getting SEC approval will take 1-3 years?
Unless you count financial instability and heavy dilution as drama
You know what GS is going to do, right?
As well as the other lenders.
And what the consequences of that are.
Pretty obvious.
QC settled. The writing is the wall.
Onwards and Upwards.
Of course, another app written on Amazons product to promote the share sales. These infomercials are costing a small fortune in shares to move those conversions. More shares for the dumpster fire. You all better hope new money takes the bait and that it does better than the April 10th infomercial with only 3.4 million shares traded. The stay expired on February 15th so GS Capital probably still has shares to move. At this level they are making nice bank on those shares priced at $0.00006. Unbelievable.
Bubae
Re: None
Saturday, April 20, 2024 8:55:48 PM
Post# 13135 of 13197
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174276706
We have had a share count increase every months since the beginning of the year. I expect another for the start of March. Subtract the current share count from that at the end of 2023 and we have 195,620,499. That number matches the number of shares issued to GS Capital at $0.00006 per share. Looking at the statement in the 10K Blackstar "reserved out" 259,683,053 shares for convertible promissory notes as of March 29, 2024. Looking for another outstanding share increase of 64,062,554. See any mention in the January lawsuit update that the conversion price for these conversions would be $0.00006? If GS Capital settles that principle outstanding amount of $33,682 for $0.00006 a share you are looking at a total of 561,366,666 shares. So what is going on?
New interview on Friday with New to the Street.
They will be discussing the latest patent for Corporate Governance and Audit on Blockchain.
"This year, we look forward to releasing the audit platform on a blockchain for subscription to exchange-listed Nasdaq and OTC public companies, with later integration of our revolutionized blockchain trading of digital securities," states Mr. Kurczodyna.
you should be
That's ugly
I know that you all do not enjoy the drama of this stock as much as I do but the documents on the Nevada Supreme Court site regarding this stock are a fun read. It really is as ridiculous as it seems that Blackstar would expose themselves to this stupid, stupid, stupid lawsuit and the expense over a principle amount of only $33,682. Especially in light of the shares they have set on fire in other matters.
Blackstar's concern about share price depreciation expressed in Page 2 of document 24-05052 helps to explain why Blackstar has entered into a $100K media consulting contract for which they are issuing shares. The irony is that while Blackstar is desperately trying to preserve price level they are also ensuring that GS Capital maximizes its return on those shares.
There are two interesting comments in document 24-03599 regarding "...Blackstar’s imminent insolvency..." The basis for this opinion is not mentioned so take it for what it is based on the context what else you read in the correspondence. These guys are pissed off it would seem. 😆
As stated in document 24-05052 the availability of shares from GS Capital would begin after February 15th expiration of the stay. Has GS Capital sold those shares in the past eight weeks or so you think? 🤔 They did very well with the March 22nd infomercial and 119 million shares traded but the April 10 infomercial fell flat generating only 3.4 million in volume for the day. Keep in mind that this is only for the principle amount that was outstanding. Will the damages be paid in shares as well? Even more reason for GS Capital to work closely with Blackstar to maintain price level.
Hey, think maybe Blackstar will think twice about not handing over shares for the two relatively larger convertible notes in the S-1 offering that are eligible to convert at 50% discount to market? Those matured two years ago.
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=3856EC6FBAE306463832E195DC457FC7?csIID=68335
Sentence at the bottom of page 8, document number 24-03599
Even if Blackstar had not previously consented to this remedy, specific performance was appropriate here, given Blackstar’s imminent insolvency and the extreme volatility of its shares.
Bottom of page 9 and page 10, document number 24-03599
On the other hand, GS Capital has suffered and will continue to suffer substantial,
irreparable harm if a stay is granted. Blackstar is currently on the brink of insolvency.
See Blackstar’s 10-Q, Exhibit “11” to Sayegh Decl. Due to its precarious financial
position, its stock price is extremely volatile. In fact, in the short time since the Order
was entered, Blackstar’s stock has fallen approximately 72%, resulting in
significant, irreparable damages to GS Capital during the district court’s stay.
Further, Blackstar’s stock price has historically been much lower than the November
2023 price surge, and the recent precipitous decline indicates a clear reversion to the
historical mean, which would represent an additional 80% drop from current levels.
A stay from this Court would only serve to compound the irreparable harm that has
already occurred as the value of Blackstar’s stock becomes more tenuous with each
day a stay is in place.
Page 2 of 24-04955
Third, Blackstar alleges that GS Capital does not ‘care’ about Blackstar’s decline
in value. Again, this is also incorrect and directly contradicted by GS Capital’s
interest in maximizing the value of Blackstar’ stock. Blackstar’s decline in stock
price would degrade the value of the Blackstar shares that GS Capital receives
through conversions
Page 2 of document 24-05052
Because GS Capital has confirmed that it fully intends to sell the disputed
shares as soon as the district court stay expires on February 15, 2023, there is good
cause for this Court to rule on the pending Motion for Stay Pending Appeal on or
before February 14, 2024.
ORDER DENYING STAY - document 24-05565
Bottom of page 2
("When a contract is clear on its
face, it will be construed from the written language and enforced as
written." (internal quote marks omitted)); and appellant has not
demonstrated a likelihood of success on the merits sufficient to tip the
balance of the NRAP 8(c) factors in favor of a stay. Accordingly, we deny
appellant's motions.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:
Talk about giving away the farm. Shows how difficult it's becoming for BEGI to borrow money.
Hard to say why. Traders love a stock that is perpetual promotion mode. Four infomercials now since the beginning of the year. Plenty of volume up against the multi month low but zero price appreciation. Low of $0.0019 January 4th and the best it could do on the best day with infomercial number three on March 22nd was $0.0019 with 119 million shares traded. Those promoting and converting are conducting a very efficient harvesting of retail trading losses from what I see with many averaging down along with new buyers. Perfect scenario where the the run to a penny cleared out the retail profit takers allowing the conversions to control at each level down. They will mine this level as long as the liquidity holds up.
I have been talking about the converting debt since November and even I underestimated what they were capable of. We couldn't know that while pumpers here were calling for a nickel while this traded at a penny the CEO was rolling out new shares for the defaulted Quick Capital note on top of what was already in the pipeline. Why Blackstar is able to dump all these unregistered shares into the market to take advantage of price level and liquidity was Who would have guessed that he would also be rolling out new shares for partial payment on the $100K in infomercial promotions. Another $226K worth for financing fees for the recently acquired notes of $400K in 2023? Ridiculous! It is clear that even the CEO knew the promotion generated liquidity wouldn't last and rolled out what he could the way it looks.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
In 2023, we received $400,000 in non-convertible debt financing from non-related individuals, of which $325,000 is due within one year of issuance with interest at 11% per annum, and $75,000 is due from 2025 to 2026 with interest at 5.5% per annum. As consideration for entering the note agreements in 2023, the Company issued to note holders an aggregate 71,250,000 shares of its common stock, valued at $266,063....
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:
share as per antidilution provision of the warrant agreement. The warrants were exercised on a cashless or “net” basis....
They have accumulated far more new debt than they have been able to convert the past year with more than a billion new shares issued. Now consider that the two remaining notes in the S-1 offering are still intact as of the current filing with principle balances outstanding of $584,079 and matured two years ago. Those notes with interest would be worth North of $800K now. The S-1 only registered 46 million shares and appears to be of little use to settle these notes. Form D filings done at the time the notes were written but would not be enough from what I see and would represent restricted shares. What happens if either of these lenders choose to exercise their rights to convert at 50% discount to market under the terms of the notes. Does Blackstar tell these lenders to shag off like they did GS Capital and end up in another very costly lawsuit?
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.
AMENDMENT NO. 10 TO FORM S-1
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
On January 28, 2021 BlackStar Enterprise Group, Inc. and SE Holdings, LLC entered into a convertible promissory note totaling $220,000 and a securities purchase agreement. The note bears interest at 10%, with a default rate of 24%, and is convertible, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest trading price of the Company’s common stock for the previous twenty trading days prior to the date of conversion....
...The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on February 4, 2021.
On April 29, 2021 BlackStar Enterprise Group, Inc. and Adar Alef, LLC entered into a convertible promissory note totaling $550,000 and a securities purchase agreement. The Company initially reserved out of its authorized Common Stock 86,105,000 shares of Common Stock for conversion pursuant to the note. The note bears interest at 10%, with a default rate of 24%, and is convertible at the option of the holder, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest closing bid prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion....
... The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on June 1, 2021.
riiiiiiight lolol
BREAKOUT BOARD TIME!!!!!
KICK THE TIRES AND LIGHT THE FIRES!!!!!
B E G I
2 0 2 4
The Night Stalker
4:55 PM
Post #13,158
https://stockcharts.com/h-sc/ui?s=begi&p=W&yr=1&mn=6&dy=0&id=p24986097784&listNum=23&a=1113701411
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
