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is this company operational anymore?
BEGI is down 70% from the .002
CEO Joe is going nowhere with that section 3(a)(10) dilution plan to pay the bills. Screenshot of OS in early December and links in post# 15034. Blackstar not only has those accumulated legal fees in the accounts payables but also many notes that are now well past due. Not a peep from this chatty CEO who ran a slew of infomercials the first half of 2024 selling the dilution. 🤔 Maybe those attorneys who aren't getting paid have turned the table. 😆
Bubae
Re: None
Friday, January 03, 2025 2:49:54 PM
Post# 15034 of 15057
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175617353
New outstanding share count update. No change. I'm beginning to think CEO Joe will not be able to pull off that section 3(a)(10) dilution. Either way it is bad news for shareholders. The account payable that were to be converted is mostly legal fees. Attorneys normally like getting paid. That account was more than $1 million at the end of Q3. Screen shot of the December 13th update which was posted on the 26th below.
There you go again when you think no one is watching. You know well that Blackstar's method patents have nothing to do with tokenized assets. That is the problem. The industry has no use for CEO Joe's plans.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 6
References throughout this registration statement to “digital shares” and similar terms refers to the typical way securities are held and traded and is the same as DTCC eligible book entry securities. We are not attempting to “tokenize” securities,
Page 17
It will remain in the testing phase until we license the BDTP™ platform to a broker-dealer, clearing firm, and/or ATS. The BDTP™ platform is not designed to support transactions in any tokens, faux currencies, coins, crypto or any crypto related assets...
Page 18
Our BlackStar Electronic Fungible Shares (BEFS) are proposed to be the initially traded securities on the blockchain on the BDTP™ platform...
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....
Page 19
We are not seeking to create “tokens,” but rather to have a system which allows the trading of well recognized corporate shares established under state law.
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...
Page 20
Are the BEFS crypto assets or tokens?
The proposed BDTP™ is designed to trade existing shares of common stock (in an electronic form) and NOT crypto assets, cryptocurrency, or tokens. We are not attempting to “tokenize” securities,...
Page 38
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.
Take a look at my post history the last 6 weeks. Pretty infrequent. Q4 financials will be fun to look at. When are you getting this back over 20?
If this is the future, then Blackstar will def be a part of it.
https://www.msn.com/en-us/money/news/blackrock-ceo-fink-urges-sec-to-rapidly-approve-tokenization-of-stocks-and-bonds/ar-AA1xJQba
Why, are you jealous, you sure do like hanging out on this obscure message board about a small unknown company for someone who isn't a shareholder.....
Great investment lolol
Anyone who still believes in this company is naive. Don't take it personally. He's had the patent for over a year now. Absolutely nothing going on. Remember when he said many months ago that he was getting 'lots of calls'? Well?
You’re so wrong! Things take time. And time will tell.
Adar Alef and SE Holdings got busted by the SEC for unregistered dealer activity. So their debt is no longer convertible and Blackstar doesn't really have anything else to go after with litigation at this point. They are essentially screwed. GS Capital has been suing Blackstar for over a year now and CEO Joe has a massive legal bill that he is trying to convert with a Section 3(a)(10)b exemption giving them free trading shares to move $861,539.26 of their accounts payables priced at a 42.5% lowest closing sale price for twenty (20) trading days. Waiting to see if CEO Joe can muster any real developments in the business to promote the new stock sales. I would like to know what he is telling these attorneys who haven't been getting paid.
For the quarterly period ended March 31, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000085/begi-20240331.htm.htm
Page 19
The Company is aware that on January 23, 2024, Aryeh Goldstein, Managing Member of SE Holdings, LLC, individually, and Adar Alef, LLC, also managed by Aryeh Goldstein, as the entity, settled charges with the SEC ordering them, in part, to surrender for cancellation all remaining shares they obtained through conversion of notes, as well as conversion rights under any remaining convertible notes. The Company is evaluating what this means for the remaining outstanding conversion rights under the two convertible promissory notes held by SE Holdings, LLC ($220,000) and Adar Alef, LLC ($550,000), and for the current holdings of Adar Alef, LLC (5,000,000 shares of common stock of BlackStar).
Aryeh Goldstein, Adar Bays, LLC, and Adar Alef, LLC
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25930 / January 23, 2024
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25930
The parties have agreed to settle the charges. Among other relief, Goldstein and his entities agreed to pay $1.25 million in monetary relief and to surrender or cancel all remaining shares of public companies allegedly obtained from their unregistered dealer activity.
Blockchain Technology Company BlackStar Secures Institutional Investor for Debt Repayment, Seeks Valuation and Eyes Revenue Possibilities Through IP Licensing
Tuesday, 05 November 2024 09:45 AM
https://www.accesswire.com/939223/blockchain-technology-company-blackstar-secures-institutional-investor-for-debt-repayment-seeks-valuation-and-eyes-revenue-possibilities-through-ip-licensing
BlackStar entered into an agreement to retire $861,539.26 of debt ("the Settlement Amount") in a transaction pursuant to 3(a)(10) of the Securities Act. Continuation Capital, Inc. ("CCI"), a Delaware corporation, purchased the obligations from certain vendors of the Company, which consist of accounts payable due from the Company.
Form 8K November 05, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000119/blackstar8k1152024.htm
On October 29, 2024, BlackStar Enterprise Group, Inc. ("BEGI", "BlackStar", or the "Company") entered into a proposed settlement for purchase of $861,539.26 of debt owed to BlackStar's creditors. Under the terms of the Settlement Agreement and Stipulation ("Settlement Agreement") discussed below, Continuation Capital, Inc. ("CCI") agreed to purchase the bona fide and outstanding and unpaid creditor claims in exchange for shares of BlackStar's common stock in a State court approved transaction in compliance with the terms of Section 3(a)(10) of the Securities Act of 1933, as amended.
The Settlement Agreement allows Continuation Capital to purchase debt that we owe to our creditors through direct purchase of the debts from our creditors and convert such debt into shares of our common stock at a reduction of forty-two and a half percent (42.5%) off the lowest closing sale price for twenty (20) trading days as disclosed in the Settlement Agreement prior to the date of conversion for each tranche of debt purchased. Upon closing, the Company will immediately issue 60,200,000 freely trading shares pursuant to Section 3(a)(10) of the Securities Act to CCI.
I was here on the day this hit its high of $0.128 back on November 27th. One of my first posts on the board was telling these people that day something wasn't right. Been pulling back the curtain ever since. Hey, I think this stock is perfect for you. CEO Joe has set this up for some massive dilution though he hasn't pulled the trigger on it. Beginning to look like the are having trouble with the 3(a)(10) exemption and CEO Joe needs it badly to pay his lawyers. I just see promotion here based on a "system and method" patent that looks dubious to me in terms of monetization. I would have to agree with that poster. I think I will pass, frankly I believe you have seen your run. Between those conversion shares and those who want to lock in their gains, when it turns it will likely turn hard. Just another view point to temper the emotional fervor. This is the OTC when it looks too good to be true you can bet your losses that it is. Buyer beware. Massive dilution is in the pipeline.
Bubae
Re: AKATITUS post# 3859
Monday, November 27, 2023 12:01:19 AM
Post# 3862 of 15041
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173298613
Bubae 
Re: Hotel Delta post# 14975
Tuesday, December 17, 2024 6:54:44 AM
Post# 14976 of 15016
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175538972
On October 29, 2024, BlackStar Enterprise Group, Inc. ("BEGI", "BlackStar", or the "Company") entered into a proposed settlement for purchase of $861,539.26 of debt owed to BlackStar's creditors...
I think Joe really thinks this concept is revolutionary. Unfortunately he never took into consideration the demand for it, which there appears to be none.
No one is even talking about this ticker anymore. One single trade today for 150K shares. Looks to me like something is wrong with CEO Joe's effort to convert shares using the Section 3(a)(10) exemption. That is bad news if it is the case. Have to pay attorneys even of you aren't paying anyone else. What matters is that the ridiculous consequences of such huge accrued legal expenses over what was originally such a relatively small sum owed speaks to the incompetency of the management of this company. Now they are trying to unload the costs of litigation onto traders of Blackstar stock with the new dilution using the Section 3(a)(10) exemption from registration for more than $860K of what will be more than $1 million in new dilution converted at a steep discount to market. Blackstar last borrowed a total of $50K from two individuals in July. The cash balance of as of September 30th was $2,179. I see no new borrowing up to the release of the Q3 filing. People need to start buying those new shares in earnest or CEO Joes attorneys may take a hike. 😆
Bubae
Re: SorcererDiviner18 post# 15012
Sunday, December 22, 2024 9:41:45 PM
Post# 15017 of 15034
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175568459
New outstanding share count update. No change. I'm beginning to think CEO Joe will not be able to pull off that section 3(a)(10) dilution. Either way it is bad news for shareholders. The account payable that were to be converted is mostly legal fees. Attorneys normally like getting paid. That account was more than $1 million at the end of Q3. Screen shot of the December 13th update which was posted on the 26th below.
Blockchain Technology Company BlackStar Secures Institutional Investor for Debt Repayment, Seeks Valuation and Eyes Revenue Possibilities Through IP Licensing
Tuesday, 05 November 2024 09:45 AM
https://www.accesswire.com/939223/blockchain-technology-company-blackstar-secures-institutional-investor-for-debt-repayment-seeks-valuation-and-eyes-revenue-possibilities-through-ip-licensing
BlackStar entered into an agreement to retire $861,539.26 of debt ("the Settlement Amount") in a transaction pursuant to 3(a)(10) of the Securities Act. Continuation Capital, Inc. ("CCI"), a Delaware corporation, purchased the obligations from certain vendors of the Company, which consist of accounts payable due from the Company.
Form 8K November 05, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000119/blackstar8k1152024.htm
On October 29, 2024, BlackStar Enterprise Group, Inc. ("BEGI", "BlackStar", or the "Company") entered into a proposed settlement for purchase of $861,539.26 of debt owed to BlackStar's creditors. Under the terms of the Settlement Agreement and Stipulation ("Settlement Agreement") discussed below, Continuation Capital, Inc. ("CCI") agreed to purchase the bona fide and outstanding and unpaid creditor claims in exchange for shares of BlackStar's common stock in a State court approved transaction in compliance with the terms of Section 3(a)(10) of the Securities Act of 1933, as amended.
The Settlement Agreement allows Continuation Capital to purchase debt that we owe to our creditors through direct purchase of the debts from our creditors and convert such debt into shares of our common stock at a reduction of forty-two and a half percent (42.5%) off the lowest closing sale price for twenty (20) trading days as disclosed in the Settlement Agreement prior to the date of conversion for each tranche of debt purchased. Upon closing, the Company will immediately issue 60,200,000 freely trading shares pursuant to Section 3(a)(10) of the Securities Act to CCI.
Bubae
Re: None
Thursday, December 05, 2024 9:31:53 AM
Post# 14917 of 14975
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175480484
For those who may believe buying 7s and 8s here is an opportunity to flip this trash. The summary of the settlement agreement states that the conversions will be done "...at a reduction of forty-two and a half percent (42.5%) off the lowest closing sale price for twenty (20) trading days as disclosed in the Settlement Agreement..." Looking at the Settlement Agreement, Exhibit 10.1 linked below, we find that the conversions are to be done at "..market price during the valuation period..." Market Price is defined as lowest "Sale Price".
3(A)(10) Financing: New Predatory Financing Using the Securities Act
Thomas S. Glassman University of Michigan Law School
https://repository.law.umich.edu/cgi/viewcontent.cgi?article=1039&context=mbelr
You can bet Continuous Capital with rights to conversions priced at $0.000288 is hoping so. Blackstar won't settle any more debt either way. Looking at much more than $1 million in new dilution at a minimum as it is. Fools are buying this right now in my opinion.
I see an end of day trade at $0.0005. New calculated basis for the continuous Capital conversions should be $0.000288. If CEO Joe gets back on his infomercial horse Continuous Capital could make a small fortune on any price increase.
Exhibit 10.1
SETTLEMENT AGREEMENT AND STIPULATION
https://www.sec.gov/Archives/edgar/data/1483646/000106594924000119/ex10_1.htm
Page 2
1. Defined Terms. As used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings to be equally applicable to both the singular and plural forms of the terms defined):
“CLAIM AMOUNT” shall mean $861,539.26 (Subject to any applicable discounts pursuant to the annexed Claims Purchase Agreements).
...
“SALE PRICE” shall mean the Sale Price of the Common Stock on the Principal Market.
"MARKET PRICE" on any given date shall mean the lowest Sale Price during the Valuation Period.
"VALUATION PERIOD" shall mean the twenty (20) day trading period preceding the share request...
"PURCHASE PRICE" shall mean the Market Price during the Valuation Period (or such other date on which the Purchase Price is calculated in accordance with the terms and conditions of this Agreement) less the product of the Discount and the Market Price.
...
Page 4
a. In settlement of the Claims, Company shall initially issue and deliver to CCI, in one or more tranches as necessary subject to paragraph 3(e) and (f) herein, shares of Common Stock (the “Initial Issuance”), subject to adjustment and ownership limitations as set forth below, sufficient to satisfy the compromised amount at a forty two and one half percent (42.5%) discount to market (the total amount of the claims divided by the purchase price) based on the market price during the valuation period as defined herein through the issuance of freely trading securities issued pursuant to Section 3(a)(10) of the Securities Act (the Settlement.
Outstanding share count update today. As usual backdated, this time to December 13th. The definitive 14C for the authorized share count increase to 6 billion shares was filed on December 17th so it didn't show up with this update. The November 29th update revealed an increase of 60,200,000 which would match the shares to be issued for the first tranche for fees and expenses related to the Section 3(a)(10) dilution to come. Today's update revealed a zero share compared to that of November 29th. It would be a hoot if Continuous Capital got caught holding when the price dropped 50% on the news of the authorized shares count update on December 3rd. No reason why they would have expected a sell off since people held when they announced the massive dilution to come with the November 5th 8K filing. Looking at the trading since the 13th and it looks like they haven't even begun to sell those new shares yet.
Wow, that post triggered you? 😆 A little factual reverberation for the newbs to the board. It is rare that you see agreements with a constantly adjusting conversion price these days who's intended purpose is to move what will be much more than $1 million in new shares. In terms of stock picks you would do better throwing a dart at a list of OTC tickers. We know from the last OS update of November 27th that the 60,200,000 shares for fees and expenses was issued. We also know that the authorized share count has been finalized with the DEF 14C filing on the 17th of December yet we still don't have a share count update on the OTC markets site. This is just the beginning.
Exhibit 10.1
SETTLEMENT AGREEMENT AND STIPULATION
https://www.sec.gov/Archives/edgar/data/1483646/000106594924000119/ex10_1.htm
Page 2
1. Defined Terms. As used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings to be equally applicable to both the singular and plural forms of the terms defined):
“CLAIM AMOUNT” shall mean $861,539.26 (Subject to any applicable discounts pursuant to the annexed Claims Purchase Agreements).
...
“SALE PRICE” shall mean the Sale Price of the Common Stock on the Principal Market.
"MARKET PRICE" on any given date shall mean the lowest Sale Price during the Valuation Period.
"VALUATION PERIOD" shall mean the twenty (20) day trading period preceding the share request...
"PURCHASE PRICE" shall mean the Market Price during the Valuation Period (or such other date on which the Purchase Price is calculated in accordance with the terms and conditions of this Agreement) less the product of the Discount and the Market Price.
...
Page 4
a. In settlement of the Claims, Company shall initially issue and deliver to CCI, in one or more tranches as necessary subject to paragraph 3(e) and (f) herein, shares of Common Stock (the “Initial Issuance”), subject to adjustment and ownership limitations as set forth below, sufficient to satisfy the compromised amount at a forty two and one half percent (42.5%) discount to market (the total amount of the claims divided by the purchase price) based on the market price during the valuation period as defined herein through the issuance of freely trading securities issued pursuant to Section 3(a)(10) of the Securities Act (the Settlement.
Blah, blah blah....💤
It isn't exactly unusual for a company in litigation for a breach of contract to arrive at a point where they need to determine the value of their assets. Determining a value for method patents that are currently not commercially viable or with an earnings history would be pretty speculative. That Blackstar is unable to secure any investors for their ideas speaks to the value of the patents in my opinion. Could be that they wanted to demonstrate to GS Capital that there is little of value to go after while they were in settlement talks. With the new dilution that is setup to pay their own legal bills, Blackstar may also demonstrate that their stock has little value.
"You say that you like to use the companies own words. "Mr. Kurczodyna also stated that the next step for the Company is a valuation of our patents and a licensing strategy."
This lawsuit is being handled in the Nevada district court so what about a federal angle? If GS Capital violated rule 144 when they converted the shares that would fall under the purview for the SEC, not the courts. I'm not going to waste time getting into the weeds of this lawsuit because it has become a game of obstruct and delay that is now projected by Blackstar to go into 2026. The immediate problem for Blackstar is dealing with the debt that has resulted. By the time GS Capital obtains any Judgement Blackstar may be insolvent. The question is can CEO Joe sell the shares needed to keep the attorneys on retainer. That is all they are doing right now, feeding the beast.
All anyone who is clinging to the possibility that this lawsuit can in anyway be beneficial to Blackstar can simply read the answering brief which pretty well covers what is going on in this single document. The benefit of the contract, as with all toxic notes, is completely written to cover the predatory lender. Blackstar can't even attract these types of loans anymore with two in default since 2022 and this one in litigation. Buyer beware. Massive dilution is in the pipeline.
What matters is that the ridiculous consequences of such huge accrued legal expenses over what was originally such a relatively small sum owed speaks to the incompetency of the management of this company. Now they are trying to unload the costs of litigation onto traders of Blackstar stock with the new dilution using the Section 3(a)(10) exemption from registration for more than $860K of what will be more than $1 million in new dilution converted at a steep discount to market. Blackstar last borrowed a total of $50K from two individuals in July. The cash balance of as of September 30th was $2,179. I see no new borrowing up to the release of the Q3 filing. People need to start buying those new shares in earnest or CEO Joes attorneys may take a hike. 😆
Nevada Supreme Court lawsuit docket link
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=3856EC6FBAE306463832E195DC457FC7?csIID=68335
SEE DOCUMENT ##24-49351 FOR THE GS CAPITAL ANSWERING BRIEF. PDF documents listed at the far right of each line item.
For the quarterly period ended September 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000133/begi-20240930.htm
Page 7
NOTE 2 – GOING CONCERN
...As shown in the financial statements for the nine months ended September 30, 2024 and the year ended December 31, 2023, the Company has generated no revenues and has incurred losses. As of September 30, 2024, the Company had cash of $2,179, working capital deficiency of $2,568,410 and an accumulated deficit of $11,529,344...
Bubae
Re: Hotel Delta post# 14975
Tuesday, December 17, 2024 6:54:44 AM
Post# 14976 of 15016
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175538972
On October 29, 2024, BlackStar Enterprise Group, Inc. ("BEGI", "BlackStar", or the "Company") entered into a proposed settlement for purchase of $861,539.26 of debt owed to BlackStar's creditors...
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
DISCLAIMER:
Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions. There is no express or implied solicitation to buy or sell securities.
The author(s) may have positions in the stocks or financial relationships with the company or companies discussed and may trade in the stocks mentioned. Readers are advised to conduct their own due diligence prior
to considering buying or selling any stock. All information should be considered for information purposes only. No stock exchange has approved or disapproved of the information here.
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