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Short "volume"s meaningless intra-day order processing volume. Just MMs doing their job filling orders during the day. Short INTEREST are open short positions needing to be bought back at some point in the future.
Well, I suppose somebody has to...
I love that you like your own posts lol...
I don’t disagree that the whole thing is a bit of a shit show. This is a brutal environment for OTC startups with zero revenue. At some point soon, they need to shit or get off the pot.
I just don’t think it will be a death sentence based on my own speculation.
There are some elements I am closely watching.
I believe it will all be over Q2? Again, my speculation.
We need to see how they advance the other aspects of the platform that do not require approval and can bring in revenue - as I think SEC comms are slow, unproductive in nature, and there is no defined approval process. Exchanges just launch (see coinbase) and hope they meet the standards of SEC and investor protection. If not— they get sued, paid a fine, move on. Nobody notable has been forced to shutdown.
Other than someone like FTX who were doing drugs and stealing funds.
Fair enough.
I actually have filed on this subject of the defaulted note. From what I see given the other numbers stated in the 10K it appears to me that that they settled that note for far more than the 22,900,757 shares in the 10K Filing. Depending on when those shares were dumped Quick Capital could have made an obscene profit off that note with an original principle of only $33,275. The second question for that transaction would be, did Quick Capital immediately dump those unregistered shares into the the market to take advantage of the price level after runup in late November.
You might note that the two 8K filings for the lawsuit updates were in January and February 2024 and contain the line "...the Company could be exposed to further risks of lawsuits for similar issues...". The settlement for the defaulted Quick Capital note was reported to have been done in Q4 2023. The GS Capital lawsuit is over a principle balance of what was only $33,682. The defaulted Quick Capital note had an original principle of only $33,275. So Blackstar has gotten into trouble over some relatively small notes and doesn't mind burning cash on billable hours for lawyers. All borrowed funds of course.
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 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? I leave it up to Blackstar to detail the possibilities it is their statement after all. All we can do is look at the possibilities since they broached the subject.
FORM 8-K
Date of report (Date of earliest event reported): January 11, 2024
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
The Company may need to increase the authorized shares of common stock in order to accommodate any continued conversions, judgments, or settlements, and the Company could be exposed to further risks of lawsuits for similar issues. The Company will also expend additional resources in the ongoing litigation and any potential resolutions outside the above-reference conversions to common stock (which were already contemplated in the original convertible promissory note), negatively impacting its financial position.
FORM 8-K
Date of report (Date of earliest event reported): February 27, 2024
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm
The risks of continued litigation on this matter are as follows: the Company may need to increase the authorized shares of common stock in order to accommodate any continued conversions, judgments, or settlements, and the Company could be exposed to further risks of lawsuits for similar issues. The Company will also expend additional resources in the ongoing litigation and any potential resolutions outside the above-reference conversions to common stock (which were already contemplated in the original convertible promissory note), negatively impacting its financial position.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
QUICK CAPITAL LLC
Page F-14
On November 23, 2020, the Company entered into a financing agreement with Quick Capital LLC (“Quick Capital”) to borrow $33,275 with a due date of July 16, 2021. The note bears interest at 10%, with a default rate of 24%, and is convertible into shares of the Company’s common stock. The conversion price is to be calculated at 60% of the 2 lowest trading prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion....
Page F-15
During 2023, Quick Capital converted, in two tranches of 4,900,757 and 18,000,000 shares, principal balance of $39,322 and accrued and unpaid interest of $27,225 at conversion prices of $0.000132 to $0.00366 per share under the conversion provision and terms of the note agreement. Upon delivery of the 18,000,000 shares converted under the second conversion, Quick Capital forgave the outstanding principal balance of $68,451.
Page 56
Results of Operations
Legal and professional fees of $326,527 for the year ended December 31, 2023 increased by $199,135 from $127,392 for the year ended December 31, 2022. During 2023 the Company incurred legal fees for litigation and settlement of issues with convertible debt holders which were not incurred in prior years, in addition to recurring costs for SEC regulatory and statutory filings matters. Fees for 2022 were predominately for SEC regulatory and statutory filings, fees for annual audit and quarterly reviews and filings for a Registration Statement on Form S-1 to register underlying common shares for issuance to investors.
We did, it got bought out the red, you're Friday night chicken wing money can't keep the stock price down for long.
I hope you and your friends buy enough to move the price
100% bucking on point there my guy!
So the company was able to settle the Quick Capital defaulted note.
I haven't even scratched the surface as to why and what will happen to the volume of OTC stocks when this begins occurring.
....
I think I hear the sounds of squeezing in the distance.
....
Or maybe that is just the sounds of minds exploding.
This discredits absolutely nothing I addressed in the prior post.
You simply cannot comprehend basic logic.
I cannot help you in that arena - so these posts are really no longer for you.
Let's run through a basic thought experiment.
I see two distinct markets for the quoting of the shares of a respective company.
One market does not have full transparency.
The alternative shares, trading on a distinct market, allows for full transparency.
The price of the shares of the company - short selling activity, dark pools, etc. is reflected in the alternative market. Again, true price will be the price that is fully transparent and devoid of any market manipulation.
Shares of respective company are advancing quickly in one market, while the shares of the alternative is stagnant at best due to lack of liquidity from retail investors opting for alternative, distinct market that is not hampered by NS, SS.
Short sellers need liquidity. They cannot enter the alternative market to short the stock of the company.
Exit.
Managers, retail, algo trading will undeniably begin to make up the difference between the two... This even happens on exchanges such as ASX, TSX, USOTC all the time. The time for the window to close is the only thing in questions.
They will speculate in both exchanges.
They will buy on one, sell on the other, at high frequency.
This is just investing, trading 101 - it really doesn't require that much thought. All this requires is for you to take of your shades of bias and drop the hidden agenda cloak.
And now... all I see is a self-proclaimed emperor of ihub conversion with no clothes, seeking self assurance in all the wrong places.
Happy Trading.
Really? True price will then be reflected on both OTC and BDTP...???? You know that there is a problem with that statement because I addressed it in post# 13096, with links. I give you the cliff notes for the filings so that you do not need to engage in a lot of reading. Repeating the same falsehood over and over isn't going to convince anyone. ...however, the BDTPTM platform, with its ATS/broker-dealer host, is a distinct market from the OTC market." That must be a touchy one for you and it should be. You might do a little reading yourself...maybe? Just a bit? You really want to deal with a trading platform that is distinct and separate from the OTC market when you are trying to flip the crap? Pay a fee for the privilege? You don't believe this effects the liquidity of a stock? They state, different markets, different liquidity.
Bubae
Member Level
Re: SorcererDiviner18 post# 13086
Thursday, April 18, 2024 8:00:12 PM
Post# 13096 of 13120
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174266489
I have good taste, I only like the best, that's why I bought a lot of Blackstar shares!
BEGI
The Penny Stock of 2024!
I love that you like your own posts lol...
Cool, stock price went up.....AND WON'T GO BELOW THE TEENS BECAUSE THE SHARES ARE ONLY BEING TRADED BY THIN PROFIT MARGIN FLIPPERS!!! I actually want the share price to go lower just to test if I'm wrong about the teens being the bottom inflection point! BEGI LONG AND STRONG!!!!!
Kid...Did you even bother to read the filing?
Nothing like an early morning personal attack.
I am still waiting on refutation of this logic by 'Bears'.
Posters have expressed positive sentiment towards this post, so I will bump it back up for visibility purposes.
Current shallow refutation : "short selling narrative is not relevant* ...
The short selling consequence and subsequent fallout is just a stepping stone leading to improved, informed decisions of retail investors by benefit of transparency provided by Blackstar's patented BDTP.
True Price discovery
The following post was a reply to liquidity FUD by resident, angry bear.
--
Do you know what happens when there is price discrepancies...
Do you see what happens to short sellers in this scenario...
Short sellers need liquidity...
Retail traders will be able to see the true price minus naked shorting/ dark pools...
Short sellers will exit... or wisely choose not partake in stocks with transparency provided by BDTP.
True price will then be reflected on both OTC and BDTP...
MM, algo trading will jump all over that arbitrage opportunity...
Volume returns... Liquidity returns...
--
BEGI has the potential to effectively eliminate short selling of OTC stocks, not just on their own platform.
Two birds, one stone.
Is this why you are so angry?
--
You are indirectly making a great case for BEGI - and helping investors see the flaws in your argument.
Just think outside-the-box for a minute. I won't connect these dots for you.
Cynical minds cannot see the forest for the trees.
--
Try to refute this logic without resorting to ad hominem attacks on the CEO.
Of course the conversions played a larger role in the decline.
This is an easy asymmetric risk/reward speculative play, even considering the large amount of toxic financing - which will all be over with in short order, no pun intended.
"Conspiracy Kool Aide drinking?" Really......?.....odd behavior yet again. Simply having a discussion and stating my stance which was brought on by your own posts.... Are you not here to have discussion?
Grow up and have a discussion on a topic that you brought to light by bringing up liquidity FUD.
Conversions are a very shallow pool, and my interest in this board is now drowning.
You are serious short selling conspiracy Kool Aide drinker without a doubt. The dilution and a false narrative that has become more widely known is why it is where it is. How many real companies do you know of who must convert debt at $0.00006 a share? Do you see many OTC stocks, the worst of the worst companies out there, who need to convert at that level? It's more about naked shorting...
See that 195,620,499 shares issued to GS Capital priced at $0.00006 per share. That covers $11,737 of the principal balance of $33,682 ordered in the preliminary injunction. Just spit ball a bit with a number that GS Capital may sell those shares and arrive at a number that will translate into trading losses by someone. Hey, lets just use the current number of $0.0014. That would be $273,868. Not a bad return on a $11,737 investment. Now get n there and see how much of that you can buy up. 😃
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
NOTE 12 – SUBSEQUENT EVENTS
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
Date of report (Date of earliest event reported): January 11, 2024
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
Very articulated and pleasant to read.
Great knowledge exposed .
Thank you for your posts !
BEGI is frequently above 50% short volume...
You think the expense is high now? ... Do you know what will happen to the expense soon?
It's more about naked shorting...
You should see the OTC mining message boards - they might throw you back under the bridge for saying that OTC short narrative is not relevant.
In any case, a wholly unsatisfactory response to my previous post.
I actually expected more, shame on me.
You have way too much time on your hands....
Sorry, I do not accept the short selling narrative. I don't believe short selling is an issue with OTC stocks because of the expense. If short selling was as easy as normal trading I would have sold this ticker short with all I had back in November when this hit its 52 week high and stated so then. This has been a solid short candidate for months and should have been trading in the deep trips again if traders were actually selling it short. There are a ton of conversions that need to be done so plenty of shares to cover with. My opinion? If it hits .015 short the he77 out it if you have the means. LOL Just another azzhole with an opinion for what it is worth.
Bubae
Member Level
Re: J2003 post# 3886
Monday, November 27, 2023 9:13:36 AM
Post# 3887 of 13107
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173299778
Do you know what happens when there is price discrepancies...
Do you see what happens to short sellers in this scenario...
Short sellers need liquidity...
Retail traders will be able to see the true price minus naked shorting/ dark pools...
Short sellers will exit... or wisely choose not partake in stocks with transparency provided by BDTP.
True price will then be reflected on both OTC and BDTP...
MM, algo trading will jump all over that arbitrage opportunity...
Volume returns... Liquidity returns...
--
BEGI has the potential to effectively eliminate short selling of OTC stocks, not just on their own platform.
Two birds, one stone.
Is this why you are so angry?
--
You are indirectly making a great case for BEGI - and helping investors see the flaws in your argument.
Just think outside-the-box for a minute. I won't connect these dots for you.
Cynical minds cannot see the forest for the trees.
--
Try to refute this logic without resorting to ad hominem attacks on the CEO.
I want you to write something a bit out of your intellectual depth - so I can point out where you are wrong. Did you really think that I would need your help with answering a question regarding something shallow like liquidity?
Still waiting on a stringed together thought... Your subsequent posts reek of vitriol... Just a simple request to defend your posts on BEGI - that I have some hope you can answer in depth relative to the usual ramblings.
Also, disclose your position on the stock.
If you have no position, I actually hope you seek some help. Spending months as you have said and countless time on this board with no current or future incentive is unhealthy, imo.
Very odd behavior.. Ihub is not the place to find self validation or assurance...
So the company was able to settle the Quick Capital defaulted note. The question that I have is why Blackstar has been able to dump so many unregistered shares for notes like this and even media contracts. Good question for the SEC. If a company can dump shares like this why would any actually go to the trouble of registering shares.
The Q3 was filed November 20th and there is no mention of this debt being settled in the subsequent events. It would appear that Quick Capital could have received their shares while this was trading as high as a penny at the end of November. Looking at $66,547 and 22,900,757 shares or $0.003 a share. I would like to know the date they sold those shares. At $0.009 that $66,547 would have been worth more than $200K. That $200K would have come straight out of the accounts of those who traded this stock at the time. In case some of you are interested in knowing where your losses went.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
During 2023, Quick Capital converted, in two tranches of 4,900,757 and 18,000,000 shares, principal balance of $39,322 and accrued and unpaid interest of $27,225 at conversion prices of $0.000132 to $0.00366 per share under the conversion provision and terms of the note agreement. Upon delivery of the 18,000,000 shares converted under the second conversion, Quick Capital forgave the outstanding principal balance of $68,451.
Wish I were paid. My best chance of getting a payday is with the SEC complaints friend. I think what people understand is the actual quotes from the filings and press releases with the links that you all constantly complained about for months. The current filing validates everything that I have been saying and even reals worse than what I was saying about the dilution. You and others mocked my posts for months so your bitterness should be directed within for ignoring the information. Yes, I believe this CEO was instrumental in the paid infomercials to maximize the returns for the toxic note holders. You blame me as I caution traders here while you all who promote shamelessly for months as unpaid schills? How laughable.
This CEO is pretty reckless in my opinion and it is beginning to look like he has little to lose. After operating a losing Merchant Banking business of years I doubt he has much in personal wealth to go after for any trading losses recovery. The other owner of this is now deceased as of last summer at age 75 and I believe this CEO is now 70. He needs to clear that debt if his Series "A" preferred ownership is to be worth anything. I doubt those preferred shares will ever be worth anything unless he can unload those on traders of Blackstar. As far as Blackstar's assets there isn't anything to go after there either from what I see. These very old note holders need to bide their time and hope for a window to convert.
No, people are wise to your same old bash techniques, anything to blame the CEO, anything to mock and make fun of longs,...
Longs will be laughing all the way to the bank in a few years....at least that is my entitled opinion ! Se' la' ve'
Trash is unsustainable! Trash stinks long after the Brinks Truck drives safely away from the smell. BEGI will be just fine...and no, we aren't selling our holdings. And as deeper pockets come to build out infrastructure and the subscriber base Brinks will help us out.....
...,and worthless at that !
You seem to be the 1 here promoting trash...like it or not...yep you are the one promoting TRASH, change the subject, attack the app, attack the CEO, attack and mock any longs....all pure trash, nothing but trash, and then even more, more, more, more, more, more ,more, more, more , much...much more TRASH. Got to love it....made my day again ..even with last post. Thanks !
No, people are wise to your same old bash techniques, anything to blame the CEO, anything to mock and make fun of longs, and conversely say anything to protect your employer....Death Spiral Finance lenders who all know you on a 1st name basis. The same old change the subject routine month after month after month. You refuse to answer my questions on why do they sue for shares of a company you say is worth nothing....why do you back them up with all your rhetoric as they turn down cash payoff and sue the company for 150 mill+ shares at a pps of 1/30th the of the current share price...what a farce...a motto of pure hypocrisy. Bla...Bla...Bla....you won't do anything but change the subject thing. Scam the CEO, and try to rob shareholders with free shares. You simply haven't read the dictionary terminology of the job of a moderator. Moderators don't propagate their own agenda, take sides as judge and jury against any party. But to simply bring peaceful harmony between opposing sides.....Dare you to look it up. Just great, your post just made my day. Thanks !
Not only the answers the links to the information as well. 😆 People with try to trade this as long as the infomercials keep coming. It is beginning to look like the infomercial scheme is lacking its luster however with the April 10th failure. This CEO needs to conjure up some new material because he has a ton of very old paper to move.
The two notes in the S-1 are intact from November with current principle balances of $584,079. They matured two years ago and with interest should be worth North of $800K. The S-1 originally filed in 2021 received its notice of effect July 2023 and registers only 46 million shares. Both notes had form D's filed at the time the notes were written so who knows how they will start moving that debt. Both notes convert at a 50% discount to market.
Blackstar has been converting debt fairly frantically since November so they are doing their best to make hay while the sun shines which tells me that this CEO doesn't expect this to last. Since May 5th 2023 they issued 1,056,870,102 new shares because they knew the sun was coming out and they needed to get some debt moved from what I see. With conversions as low as $0.00006 they didn't get but a pittance of debt relief relative to the losses banked by traders of the stock. Ridiculous. 😒
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 lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note, and the Company has reserved 44,000,000 shares for conversion. Net proceeds from the loan were $177,500, after original issue discount of $20,000 and legal fees and offering costs of $22,500. Details of the promissory note and securities purchase agreement can be found in the Form 8-K and exhibits filed on February 4, 2021. 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 lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to the note. The Company received the net proceeds from the loan of $462,000, after original issue discount, legal fees and offering costs of $88,000. Copies of the promissory note, securities purchase agreement, and transfer agent letter can be found in the Form 10-Q and exhibits filed on May 17, 2021. 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.
You might do a little reading yourself...maybe? Just a bit? You really want to deal with a trading platform that is distinct and separate from the OTC market when you are trying to flip the crap? Pay a fee for the privilege? You don't believe this effects the liquidity of a stock? They state, different markets, different liquidity.
They intend to market to companies and I for one would touch a stock using Blackstar's trading platform. Who do I sell to, someone else using the platform? If you ever notice in the infomercials the CEO doesn't really flesh out a real world trading scenario and consequences for the individual trader who will eventually be asked to deal with their product.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Frequently Asked Questions regarding Proposed BDTP ™ platform
Will the BEFS traded on the proposed BDTPTM trade at different prices than the OTC Pink?
Because it is a distinct market from the OTC Pink, where the common shares currently trade, there is a possibility that the prices reflected for the common shares will differ across the trading markets. BDTPTM, for instance, only accepts free trading securities (of BlackStar common stock) for cash and prohibits shorting. As a result, there could be a difference in price from one market to the next due to different liquidity in the markets as there are arbitrage opportunities in both separate trading venues.
SEC Correspondence February 13, 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000009/filename1.htm
OTC markets currently trade book-entry electronic fungible common shares as well, however, the BDTPTM platform, with its ATS/broker-dealer host, is a distinct market from the OTC market. Because it is distinct from the OTC market on which the common shares currently trade, there is a possibility that the prices reflected for the common shares will differ across the trading markets. BDTPTM, for instance, only accepts free trading securities (of BlackStar common stock) or cash and prohibits shorting. As a result, there could be a difference in price from one market to the next due to different liquidity in the markets as there are arbitrage opportunities in both separate trading venues. A risk factor detailing the possibility of price discrepancies has been added on page 20.
There will be no demand for this product
that would be smart of you
except Bubae's answers are correct
app is application. Just a method that by their own statements is largely "...based on unpatented trade secrets and know-how...". I have done so much reading over their information the past few months that I just don't think much of what they are doing. The fact that they have to use misinformation and paid infomercials to move shares says a lot. Unsustainable however.
Yeah, I'm sure conducting it on a blockchain really helps. The announcement didn't garner much attention and the CEO couldn't sell it to get the new shares moved. All these ideas penciled into the method patent idea is for selling shares. These note holders will make far more from this scam than Blackstar ever will. All off the backs of those who have been playing with this. Do you realize that there are phone apps that have more to offer than Blackstar's app and they make money. 😆There are a lot of losses being banked here. "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how..."
AMENDMENT NO. 10 TO FORM S-1
As filed with the U.S. Securities and Exchange Commission on June 16 , 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
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.
I didn't realize you were part of the beta testing team... Now I will believe whatever you say..lol...
You remind me,of me in grade school. You have an answer for everything..lol.
Big deal Corporate Governance on a blockchain ledger. Whoo Hooo.
Lol, lol and lol!
Well, thanks for answering my liquidity question.
Blackstar has an app or do you mean application?
Blackstar's app is trash that they aren't even allowed to even use themselves. I'm not going down the rabbit hole for product that has no viability and discuss it as if it were legitimate. You would think that Blackstar could pay for a relationship with a dealer / broker or ATS just for the the next share selling infomercial value. The underlying issue from what I see is not the relationship which should be easy rather it is that the SEC simply won't allow it.
Consider the history of statements;
September 2020
BlackStar will continue to seek further input from various regulatory agencies and OTC Markets on the potential functionality and regulatory aspects of the BDTP over the next several months.
March 2023
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.
September 2023
At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.
Annual 2024 released April 15th on page 17
BlackStar intends to continue to seek further input from various regulatory agencies and others on the functionality of the BDTP™ over the next several months.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
The BDTP™ platform is not currently operational for any securities and any such securities must first be registered with the SEC under the Securities Act or have an available exemption from registration.
We currently intend to seek a contractual arrangement such as a license with an existing ATS for a quoting service, similar to the current listing of our common stock with OTC Markets Group. At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS’s until we have secured an arrangement that will allow the BDTP™ platform to operate.
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BlackStar intends to continue to seek further input from various regulatory agencies and others on the functionality of the BDTP™ over the next several months.
BlackStar's Digital Trading Platform Concept Receives SEC Guidance in Q3 2020
Tuesday, 15 September 2020
https://www.accesswire.com/606154/blackstars-digital-trading-platform-concept-receives-sec-guidance-in-q3-2020
In July 2020, the Company presented the concept to SEC FinHub staff members for regulatory guidance and received the recommendation to apply for Alternative Trading System ("ATS") status.
BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023
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.
...The BDTP™ is not yet functional and may never be functional....
Blockchain First Infrastructure Designed to Enable Public Company Common Shares to Trade as Digital Securities
Monday, 11 September 2023
https://www.accesswire.com/782422/blockchain-first-infrastructure-designed-to-enable-public-company-common-shares-to-trade-as-digital-securities
We currently intend to seek a contractual arrangement such as a license with an existing ATS for a quoting service, similar to the current listing of our common stock with OTC Markets Group. At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.
The lack of selling here makes sense. I have seen this with other stocks who's CEO puts out a regular stream of press releases, in this case infomercials, when they are selling shares. Traders hold hoping that next infomercial produces a bit of liquidity to work with. I watched Jason Remillard the CEO of Data433 ($ATDS) do this for years with weekly press releases when he was selling shares. He did this for years with four reverse splits in four years, a great tactic that works. Traders love this and will play the game. A game that only the company and those converting control. You are up against a recent multi month low after it was cleared out with the November run to a penny. They will continue to work this space up against the low and hope the liquidity holds up. That April 10th infomercial was a fail so maybe traders are finally wise to the CEO's game now. No sellers? can't the mms at least fake a few?lol...
It worked on March 22nd when the CEO was in full pump mode and those watching were led to believe once again that Blackstar had a viable product. The April 10th infomercial was different in that the CEO reveals that they aren't able to use their blockchain trading platform app to trade even their own shares. The result was only 3.4 million shares traded. Add to that the new filing and we now know for certain that this guy has been dumping shares into his promotion for months. Consider the character of a CEO who would spent many tens of thousands on professional media consulting to dupe traders into paying top dollar for conversions that are already priced at the very bottom of the trips. You all have been conned and that has been clear to me for months. Now what does he do to move more shares?
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:
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
and how does that affect the liquidity of their stock. Second, those shares a company puts into the trading platform is "...distinct market from the OTC Pink..." thus again creating liquidity problems.
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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