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It won't get past $0.0019. That is the top of the range before they start competing with flippers in earnest. They will mine this range the way they did between $.002 and $0.003 during the January infomercials. This CEO is selling another method patent before the bad news from the lawsuit hits the presses. Day traders who bought at the open will take this down after lunch and cash out for this weeks grocery money. 😆
Looks like the word is out on their bogus method patents. Notice that the buying volume is getting gobbled up with the selling. Where are those shares coming from. 🤔 They own the selling down here and it doesn't look like they will leave any scraps for you all to flip into. 😆🤣
Here is what we know. When this CEO is running his infomercials he is selling shares. Two infomercials for January got some volume but not price. Those converting have conversions at that time likely priced below $0.0002. Those lawsuit shares are priced at $0.00013. Same infomercial promotion in 2022 when they were moving conversions.
New to The Street TV Signs BlackStar Enterprise Group, Inc. to a 3-Month TV Series
June 02, 2022 09:00 ET
https://www.globenewswire.com/en/news-release/2022/06/02/2455264/0/en/New-to-The-Street-TV-Signs-BlackStar-Enterprise-Group-Inc-to-a-3-Month-TV-Series.html
Once BDTP™ is live, after SEC and FINRA approval, BlackStar intends to market the platform to other publicly traded companies as a subscription service with an issuer-specific customizable interface.
For the quarterly period ended June 30, 2022
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594922000124/begi-20220630.htm
As of August 9, 2022, there were 285,357,307 shares of the registrant’s common stock, $.001 par value, issued and outstanding, not including shares reserved for conversion of notes.
NOTE 7 – CONVERTIBLE NOTES (continued)
(ii) In February and March 2022, Adar Alef LLC (“Adar Alef”) elected to make a partial conversion of $76,500 principal and $6,296 of accrued and unpaid interest thereon due on their note of April 29, 2021, in three tranches, into an aggregate 21,504,766 shares of the Company’s common stock at prices of $0.0023 to $0.0064 per share under the conversion provision and terms of the note agreement.
(iii) In January and February 2022, Power Up elected to convert, in five tranches, the total principal of $103,750 due on their note of July 26, 2021, together with accrued and upaid interest thereon of $5,188, into an aggregate 12,982,155 shares of the Company’s common stock (at conversion prices of $0.0075 to $0.0088 per share) under the conversion provision and terms of the note agreement.
(iv) In February and March 2022, Power Up Lending Group Ltd. (Power Up) elected to convert, in four tranches, the total principal due on their note of July 28, 2021 of $78,750 and accrued and unpaid interst thereon of $3,938 into 21,273,289 shares of the Company’s common stock at conversion prices of $0.0029 to $0.0073 per share under the conversion provision and terms of the note agreement.
(v) In March and April 2022, Power Up elected to convert, in three tranches, the total principal due on their note of September 1, 2021 of $53,750 and accrued and unpaid interst thereon of $2,688, into 19,952,406 shares of the Company’s common stock at conversion prices of $0.0024 to $0.0029 per share under the conversion provision and terms of the note agreement.
(vii) In April and May 2022, Power Up elected to convert, in five tranches, the total principal balance of $78,750 and accrued and upaid interest thereon of $3,938 due on their note of October 1, 2021 into 40,260,417 shares of the Company’s common stock at prices of $0.0020 to $0.0024 per share under the conversion provision and terms of the note agreement.
(viii) In June 2022, Sixth Street Lending LLC elected to convert, in three tranches, the total principal of $45,750 due on their note of November 29, 2021, together with accrued and upaid interest thereon of $2,288, into an aggregate 27,899,255 shares of the Company’s common stock (at conversion prices of $0.0016 to $0.0018 per share) under the conversion provision and terms of the note agreement.
(ix) In April 2022, Quick Capital, LLC issued a notice of default on the $33,275 convertible note dated November 16, 2020 and stated that the outstanding amount due on the note is $133,317.38, the default interest per annum is 24%, and that the conversion price is the lowest trading price during the delinquency period with a 50% discount. The Company has continued to accure interest on the note at the rate of 10% per annum.
Pump it Pump it!!! Same crap another day for the fools who will chase the social media promotion. 🙄 Worked in December after the dilution dump. Now some have likely loaded here and see the potential to drive it to $0.0019. Flip them if you have them.
Bubae
Re: None
Friday, February 16, 2024 8:55:40 PM
Post# 11665 of 12264
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173867460
Update for the docket comments. The hearing for next week has been vacated and we have a new hearing scheduled for April 22nd. Looking forward to the annual to see what conversions that were queued up for this promotional period were stopped by the restraining order in November.
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm
...a temporary restraining order was entered preventing the Company from trading any shares...
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.
case number is A-23-881099-B, plug it into the court search query linked below.
https://www.clarkcountycourts.us/Portal/
It won't be long before we get the next financial filing to see how bad the cash burn is after that desperate property purchase, sale, leaseback deal to refinance the defaulted debt as a long term liability. They were paying nothing on that debt previously but as a result of that deal must now pay on it monthly. Meanwhile the regulation "A" offering that was first qualified in October 2022 still isn't viable. The offering was requalified in November 2023 with amendments.
Pay attention to what Shawn Leon said in July 2023, "..."I have been questioned often about what our plans are to consolidate the stock and I can report that there are no near term plans to do so. I can only see that happening in conjunction with an up-listing when that time comes, and I believe it will come,..." Now the statement in the February 6th 2024 press release about "...financing and up-listing in the coming weeks... Now when Glacial Shawn mentions something to be done in weeks just say months, many months. 🤣
It takes FOREVER for Shawn Leon to do anything once he announces it but time must be running out because he has packed the debt right back on after the refinance fiasco. How bad it is should come with the annual which should be release in the next couple of weeks. My scenario for what he is going to eventually do in post# 49524. I believe that this will be trading at $0.0001 when he finally announced the plan and after the reverse split but it won't be the bottom because this will get hammered post split by the regulation "A" offering whos shares will be immediately tradable.
Bubae
Re: N-13 post# 49520
Wednesday, January 10, 2024 2:23:58 PM
Post# 49524 of 49781
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173601160
So I am looking for a 1:2400 reverse split because once announced you can bet it will be trading at $0.0001 in a flash. No one will want to hold these shares into a split knowing that it is a setup for the offering. This is why you should do the split first in my opinion. 🙄 So I'm thinking 1: 2400 gets the new price to $0.24 then sell the units, or really shares, priced at $0.12 for the discount to market. This will also fit Shawn Leon's narrative of an uplist effort in the event of a reverse split. He will need to maintain a trading price above a penny for that to have a chance.
Ethema Executes Two Real Estate Transactions and Major Debt Repayment
July 17, 2023 09:34 ET
https://www.globenewswire.com/en/news-release/2023/07/17/2705721/0/en/Ethema-Executes-Two-Real-Estate-Transactions-and-Major-Debt-Repayment.html
Ethema to Present an Update at the Emerging Growth Conference on February 8, 2024
February 06, 2024 08:00 ET
https://www.globenewswire.com/en/news-release/2024/02/06/2824259/0/en/Ethema-to-Present-an-Update-at-the-Emerging-Growth-Conference-on-February-8-2024.html
At these meetings, there was unanimous support for the Company’s growth plans supported by financing and up-listing. The Company hopes to identify which partners it will go forward with for the financing and up-listing in the coming weeks.
The SEC is widening its war on toxic funders
Published on August 24, 2021
https://www.linkedin.com/pulse/sec-widening-its-war-toxic-funders-steve-taylor/
...it also increasingly utilized qualified Reg A offerings to acquire free-trading stock which they then dumped into the market without disclosure....
..This was a significant concern, as Reg A shares are immediately free-trading...
...To make money on their toxic convertible loan, these funders require volume to dump into. Lots of volume, because they have a lot of stock to sell....
That person can stay on YOUR board? 🙄 You aren't concerned about what one posts? Then by what criteria do you determine if someone is worthy to remain on YOUR board? Wow... 🙄
We both have a post history here going back months and I standby mine. My posts are actual due diligence complete with the links to the information for those new to this stock conducting their own due diligence. Your post below about how that information may be HURTING traders of this stock. 🙄 Many who paid attention likely avoided the sell off at the end of December.
kid biscuit
Re: Bubae post# 8092
Tuesday, December 26, 2023 7:05:12 PM
Post# 8094 of 12234
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173505761
Re: None
Saturday, December 23, 2023 10:12:19 AM
Post# 7962 of 12199
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173492266
In other words ignorance is bliss? 😆 Might do as well throwing darts at a board.
Seriously? At least that ticker has revenue and an actual business with only 332 million shares outstanding. They also do not have debt in default or lawsuits with a lender in progress. He77, the GS capital lawsuit alone is well on its way to issue far more shares than the 332 million that that ticker has outstanding. 🙄
That board member claims to have added on the pull back on November 28th, low for the day $0.0074, high was $0.0118. My guess is that they are among the many who held on and averaged down into the masses between $0.002 and $0.003 and are holding heavy. You can bet that the future conversions will keep it below that range as to not compete with the selling of those needing and exit.
glens0
Re: J2003 post# 4304
Tuesday, November 28, 2023 11:31:28 PM
Post# 4306 of 12225
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173315948
That board member is so underwater yet continues to promote this as if they can flip it. 🤣 Post below they were poking fun at someone who likely did flip for a profit when it was trading around a penny. At that time that board member claimed to own "...own a sizeable amount of the float...". There was no outstanding share count increase for October and the OS as of November 1st was 1,244,572,435, today it is 1,671,892,114. They started 2023 with only 546,495,214 shares outstanding.
Savannah-Marc
Re: ice trader post# 4303
Wednesday, November 29, 2023 10:33:21 PM
Post# 4442 of 12222
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173325037
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
As of November 1, 2023, there were 1,244,572,435 shares of the registrant’s common stock, $0.001 par value, issued and outstanding, not including shares reserved for conversion of notes.
There is nothing faster, efficient or more cost effective, jumping the hurdles to utilize the trading platform and licensing it. 🙄 Blackstar isn't able to get their own shares trading on the platform and is the subject of post # 11917. The CEO also talked about "...tokens securitized by common stock which is thrown into a blockchain..." that is already legally being done. Link to post #11576 below with the information and the first paid infomercial.
Bubae
Member Level
Re: kid biscuit post# 11912
Wednesday, February 28, 2024 6:16:48 PM
Post# 11917 of 11961
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173939968
Bubae
Re: SorcererDiviner18 post# 11569
Tuesday, February 13, 2024 11:05:25 PM
Post# 11576 of 12206
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173841102
The method patent and its unusable trading platform have nothing to do with financing. The S-1 offering prospectus describes hat the method patent that is the trading platform actually does if the SEC should ever allow it. Blackstar's proposed trading platform is intended for the OTC where selling short for teh most part is not an economic reality in my opinion. This stock was one of the most obvious candidates for selling short that I have ever seen and if it was happening this would already be back into the deep trips with the new shares dumps since trading above a penny. My post below on the day it hit the 52 week high of $0.0128.
Bubae
Member Level
Re: J2003 post# 3886
Monday, November 27, 2023 9:13:36 AM
Post# 3887 of 12200
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173299778&txt2find=short
AMENDMENT NO. 10 T FORM S-1
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
Too bad stocks don't trade in a vacuum because you can't plug the facts and current events into a chart. Your post below on December 27th when it traded as high as $0.0083, just before the price fell off a cliff. The inconvenient facts that I had been posting for weeks prior predicted what was coming in post# 7962. Get ready, I see this getting hammered with new shares the second half of 2024, even with the restraining order in place, by the GS Capital lawsuit shares covering just the balance of the principle originally owed. Now add in the potential of paying GS Capitals legal fees, the interest, the potential default penalties and you have the recipe for a disaster. Traders won't be hanging around to see what happens next when that news is announced.
kid biscuit
Re: Bubae post# 8111
Wednesday, December 27, 2023 9:16:23 AM
Post# 8114 of 12199
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173507935
Bubae
Re: None
Saturday, December 23, 2023 10:12:19 AM
Post# 7962 of 12199
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173492266
FORM 8K
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.
Pumpers and longs lose their minds when we use the words of the company to pull back the curtain. If this company had anything substantive going on it would be the other way around and promoters would embrace the words of the CEO and the facts in the company's print. The con in my opinion begins with the October 24th press release with the CEO proclaiming that the "...registered patent that will give BlackStar a 20-year monopoly on digital equity trading of securities on a blockchain." Those promoting this on social media went wild and used it and other misinformation to run this over a penny in fairly short order.
There is only one problem, Blackstar isn't able to do what they claim to have a method patent for in the press release. Not even with their own shares. So how do you have a monopoly on market that doesn't exist. Press release for September 2020 states that Blackstar "...received the recommendation to apply for Alternative Trading System ("ATS") status." from the SEC. Flash forward to March 2023 press release "...The BDTP™ is not yet functional and may never be functional." September 2023 the month before the monopoly proclamation "...At this time, no ATS has committed to an arrangement." Statement from teh S-1 filing which is also found in the Q3 2023 filing "...The completion of our software platform depends on our ability to license it to an existing Alternative Trading System (“ATS”)..." The last three press releases and two infomercials doesn't even mention the Alternative Trading System (“ATS”) issue preventing Blackstar for using the trading platform which is the method patent.
Statement that the method patent represents a 20 year monopoly yet the method patent appears to be pretty weak even if there was ever to be a market for it. Statement from the S-1 offering prospectus "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how..." "...Third parties may assert intellectual property claims relating to their source code, including Distributed Ledger Technology..."
BlackStar's Digital Trading Platform Concept Receives SEC Guidance in Q3 2020
Wednesday, 16 September 2020 02:00
https://www.accesswire.com/606207/BlackStars-Digital-Trading-Platform-Concept-Receives-SEC-Guidance-in-Q3-2020
We hope that BDTP will be operational, subject to obtaining funding, by 1st Quarter of 2021.
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. Given that guidance, we are evaluating our options for finalizing the BDTP, including exploring partnerships with existing ATS's. 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.
BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023 10:30
https://www.accesswire.com/743761/blackstar-enterprise-group-inc-provides-registration-statement-update
We believe the Company is on the path to bringing its proposed business plan to reality. However, there can be no assurance that such regulatory approvals will be obtained in a timely manner or at all.
We believe it may take an additional six to nine months to address SEC comments and questions, and there is no assurance that we will be successful in our shares being approved or cleared for trading on our BDTP™ platform. The BDTP™ is not yet functional and may never be functional.
Blockchain First Infrastructure Designed to Enable Public Company Common Shares to Trade as Digital Securities
Monday, 11 September 2023 09:29
https://www.accesswire.com/782422/blockchain-first-infrastructure-designed-to-enable-public-company-common-shares-to-trade-as-digital-securities
We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.
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.
Q3 2023
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Overview
The completion of our software platform depends on our ability to license it to an existing Alternative Trading System (“ATS”) or for us to possibly register as an ATS, which we do not intend to do at this time as we would prefer to license our platform to an existing ATS. The platform is not currently operational or in use by anyone. More details regarding the BDTP TM can be found in the most recent registration statement on Form S-1, as amended.
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.
It would appear to me that that those holding short started losing control of it this afternoon. I see a single buy of 10,900 shares at 2:38 that kicked things off and may have spooked those holding short. Looks like a desperate effort to cover some there five minutes before the close making it spike to $1.30 then they quickly sold it back to $1.15 on only 600 shares because they just cleared out the ask and easily smacked it back down. This smack down could have potentially neutered the buying pressure but it bounced back.
We see this kind of activity with toxic conversions but in the opposite. With toxic note conversions they want the highest price so they dump into the bid clearing it out then quickly buy it back up only needing a few shares to the previous ask. This stock is heavily sold short and today it appears to me that they are feeling some pressure from the weight of it. My opinion based on conjecture for sure, but I like what I am seeing. Add in plan by new management for a shares buy back program at these prices and we could see those holding short lose their minds.
No settlement from GS Capital which is why this is going to trial. The nasty default language in these toxic notes is intended to induce a company to fulfill their obligations under the note. Blackstar for some reason believes that they will determine what, when and how they will pay their notes. It is the same with the Quick Capital note that that matured in July 2021 and has been in default since April 2022. Despite the especially egregious terms of default under the Quick Capital note Blackstar failed to fulfill their obligations under that note as well. That note only had a principle balance of $33,275 which now with penalties and default interest should be well over $200K. Now Blackstar states in its Q3 filing that it is holding out for a "...reasonable and fair settlement of the balance..."As if the terms of the note neglected to spell out what Blackstar agreed to as being fair as reasonable when they signed the note. Three notes in the S-1 offering with one being the Quick Capital note in default. The other two notes have a combined current balance of $597,534 as of September 30th and even those matured two years ago as of April.
Bubae
Member Level
Tuesday, February 06, 2024 7:08:19 PM
Post# 11220 of 12168
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173789412&txt2find=failure%2Bdeliver
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
In April 2022, Quick Capital LLC issued a notice of default on its $33,275 convertible note to the Company dated November 16, 2020 and stated that the outstanding amount due on the note is $133,317, the default interest per annum is 24%, and that the conversion price is the lowest trading price during the delinquency period with a 50% discount. The Company has recorded accrued default interest on the note at the rate of 24% per annum from May 24, 2021 (date of default) to September 30, 2023 based on the original loan value of $33,275. At September 30, 2023, the accompanying financial statements reflects an outstanding loan balance due to Quick Capital LLC of $33,275 and accrued interest of $9,569. The Company and Quick Capital LLC have been in discussions to reach a reasonable and fair settlement of the balance due on the financing agreement.
Quick Capital convertible note to the Company dated November 20, 2020
https://www.sec.gov/Archives/edgar/data/1483646/000106594920000165/blackstar8knov252020.htm
Amounts Due in Events of Default:
Upon the failure to pay principal and interest, the Note shall become immediately due and payable. Upon the failure to issue conversion shares when Holder exercises said right, or other events of default outlined in the Note, then two times (2x) the Default Amount of the Note will become due and payable immediately. Any other form of default will entitle the Holder to (i) an immediate payment of one hundred fifty percent (150%) of the Default Amount, being the outstanding principal amount of the Note, plus accrued and unpaid interest on the unpaid principal amount of the Note, plus any default interest and any other amounts owed or (ii) at the option of the Holder,...
...Further, if a breach of Sections 3.9, 3.10 and/or 3.19 of the Note occurs or is continuing after the six (6) month anniversary of the Note, then the principal amount of the Note shall increase by Ten Thousand and No/100 United States Dollars ($10,000) (under Holder’s and Company’s expectation that any principal amount increase will tack back to the Issue Date) and the Holder shall be entitled to use the lowest Trading Price during the delinquency period as a base price for the conversion with the Variable Conversion Price shall at the option of the Holder be redefined to mean fifty percent (50%) multiplied by the Market Price, subject to adjustment as provided in the Note.
Oh I do enjoy seeing those of you who pump this and bashed me when I was correct get your azzes handed to you. 😆 Whale came to their conclusion after reading my many posts about the dilution and lack of product efficacy detailed in the filings. Your post below going off on that poster who at the bottom of their post said "I hereby endorse Loanshark and Bubae. They were right all along. I now join them" Looks like Whale bailed around this time, made some money, and saved themselves a lot of grief. On Friday December 7th the high was $0.0098 and it closed at $0.0087. By January 4th the stock closed at $0.0019.
NorthPeak22
Re: None
Friday, December 08, 2023 6:41:07 PM
Post# 6041 of 12167
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173392619
You can make light of Blackstar's debt but no one is coming to their rescue. They handed over 698 million shares at $0.00017 to settle on a bit more than $116K of debt in 2023. Now they risk many hundreds of millions of shares in the lawsuit on what was a principle balance of $33,682. There is the Quick Capital note in default that could potentially convert for more than a couple of BILLION shares under the default terms of that note. Can't make this stuff up.
We will see in the annual which should be released by the first week of April to see if any of the $597,534 in principle of the S-1 offering was converted before the lawsuit restraining order prevented Blackstar from trading any shares. That is the real damage being done here is the restraining order preventing Blackstar from converting any of that debt while they are promoting the current narrative. The only reason this isn't back into the deep trips now is because of the moratorium on the issuance of new shares aside from the GS Capital issuances. Those GS Capital should be ready to go by the end of June when the fun will start once again.
Bubae
Re: None
Wednesday, March 13, 2024 12:21:20 AM
Post# 12111 of 12159
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174027652
I doubt GS Capital has sold any shares other than the first tranche that they received in Q2 2023 which should have been vested by December and likely part of dumpage at the end of December. The GS Capital shares issued per the preliminary injunction started in December and continues so no shares should have been actually sold yet unless they are courting the attention of the SEC. I believe that they are observing the rule 144 holding period for unregistered shares which is why my prediction about the availability of vested shares in the second half of December appears to have been correct. The rest of the 698 million shares issued at an average of only $0.00017 were likely sold in January which is why we saw the CEO promoting in the two infomercials.
The insidious part about the lawsuit shares is that the outstanding principle balance on the note was only $33,682. The GS Capitals request for shares came on November 2nd so in accordance with the note language they appear to have locked in a conversion price of $0.00013 a share according to the January lawsuit update. Now there is interest, penalties and potential legal fees to go after. Blackstar wants everyone to believe that they will turn the tables on GS Capital but they agreed to the the terms of the note which are nasty if you do not decide to pay. Don't know what Blackstar expected but they have a history of not paying. They have a Quick Capital note that was declared to be in default April 2022. Two other notes in the S-1 offering for a total of $597,534 as of September 30th matured a couple of years ago. They now have a series of eight nine month notes that began maturing with two in December and two more in February. There is more. The fact that they are taking this to trial indicates how very bad the consequences may be.
Bubae
Re: None
Wednesday, March 13, 2024 1:14:51 AM
Post# 12113 of 12158
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174027735
Bubae
Re: J2003 post# 12071
Sunday, March 10, 2024 7:25:33 PM
Post# 12084 of 12158
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174011966
Date of report (Date of earliest event reported): January 11, 2024
https://www.sec.gov/ixviewer/ix.html?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.
If I developed a method for managing a baseball collection using VBA macros on Microsoft's EXCEL product, got a patent for it, I wouldn't exactly call myself an inventor. 🙄 I would however have a better chance of monetizing the idea. 😆 Blackstar hired a custom software development company to develop a programmed method that would operate on Amazon's Amazon Web Services technology. To date no one is using it or able to use it. In my opinion these toxic note holders will make far more off this story converting their notes than Blackstar ever will from the product licensing.
It would appear that you have an inflated notion of what a moderator does on these boards. For one, I just removed your duplicate post. That is about all the power and excitement we get from the role. Simply cleaning the board of clutter and violations of the terms of service, which are rare.
Bubae
Re: None
Wednesday, January 24, 2024 9:17:03 AM
Post# 10583 of 12154
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In my very first post here I showed the dilution in progress and quoted from the filings with links as usual. Posts below for my first three days with the 52 week high of $0.0128 occurring on the 28th. This for me is a very entertaining stock to watch. Lets face it the OTC contains the worst of the worst companies in the market who must help toxic lenders fleece traders to stay funded. It isn't however often that you see this kind of carnage resulting in obscene profit for these toxic lenders with the company receiving but a relative pittance in debt relief.
How many of these stinky pinks get sued for the non-delivery of requested share conversions. How many companies get slapped with a restraining order preventing them from selling any shares. How many companies have been so successfully promoted that they run from $0.0003 to a high of $0.0128 on really nothing. The company has zero revenue and a product that cannot be monetized under current rules governing securities. Traders knew this just days prior to the runup when this traded as low as $0.0001. It is also why Blackstar issue 698 million shares to retire only $116K, that is $0.00017 a share. This is good drama.
That is how a company is supposed to be valued, right. Based on potential earnings? Even if the product was allowed I question if anyone would actually use it. Read the S-1 prospectus that describes the trading platform and ask why anyone would use it. Infomercial #2 linked below go to about 4:15 in the segment when the interviewer asks a rare relevant question, who would use the platform? The CEO gives a general non-answer of "everybody" then quickly pivots off the subject. Very telling for me. But if you throw that word blockchain around these days traders get excited! 🤩
So some watch football all evening, I enjoy the drama and marvel at how so many can lose so much money when so much information is available. The SEC requires at least some transparency but they can't force you to read it. Or believe it for that matter. 😆
Bubae
Re: None
Sunday, November 26, 2023 10:39:31 PM
Post# 3848 of 12149
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Re: AKATITUS post# 3859
Monday, November 27, 2023 12:01:19 AM
Post# 3862 of 12149
Re: dinogreeves post# 4034
Tuesday, November 28, 2023 9:31:16 AM
Post# 4084 of 12149
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Smart enough not to get trapped in this. People have been putting me on ignore since it traded above a penny so who knows and who cares. Those people need what they believe to be their safe space for their feelings. 😆
My comment below on the day that this traded at its 52 week high of $0.0128. I get a kick out of knowing that those who had me on ignore in December got crushed by the share conversions that I warned everyone about. 🤣 Good luck with your flip. Just know that beginning around the last week of June this will get thrashed once again all the way into 2025 from what I see.
Bubae
Re: dinogreeves post# 4025
Monday, November 27, 2023 6:47:51 PM
Post# 4026 of 12143
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Exactly what news are you expecting? "corporate governance" and "capital fund raising" method patents? The CEO boasted about this in his infomercial and it may have generated some volume for the conversions it really didn't get anyone very excited. The two ideas on a blockchain ledger really does make much sense to me. The two features that they plan to acquire method patents for is mentioned in the S-1 offering prospectus.
So exactly what is patented and what is not since it appears that they can plug just about anything into their developed method template which is built on Amazons Quantum Ledger Database product. The method patents simply gives Blackstar the privilege to defend what has been up to this point a fairly useless venture. How defendable is it even if someone else was interested since "...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.
Additional Features of the BDTP™ Platform
The BDTP™ platform will contain three features: (1) the main trading feature as discussed above, (2) an indication of interest feature for future offerings, and (3) a corporate governance feature.
RISK FACTORS OF THE COMPANY
THERE CAN BE NO CERTAINTY AS TO MARKET ACCEPTANCE OF THE PROPOSED BDTP™.
The Company has no certainty as to whether the market will accept our proposed business concept and use the idea of the BDTP™, should it become operational, nor is there any certainty as to how the BDTP™ translates to profits for the Company. There is no assurance of market acceptance or profitability of the concept or Company. The BDTP™ is not yet functional and may never be functional.
THE OPERABILITY OF OUR PLATFORM DEPENDS ON OUR ABILITY TO ENTER INTO A LICENSE AGREEMENT WITH A BROKER DEALER OR AN ALTERNATIVE TRADING SYSTEM.
Our plan to operate the BlackStar Digital Trading Platform™ relies on our ability to enter into a license agreement with a broker dealer or an alternative trading system (“ATS”)...
THE POSSIBILITY OF TRADING OCCURING ON MULTIPLE EXCHANGES MEANS THAT THERE MAY BE DISCREPANCIES IN TRADING PRICES OF COMMON STOCK.
The trading market operating on the BDTP TM, once operational, is distinct and separate from the OTC market on which the common shares currently trade, which could cause discrepancies between the trading prices of common shares between the two venues, whether resulting from different liquidity in the markets or otherwise....
Regulatory Challenges of our Business Concept (BDTP™)
Our first regulatory challenge is seeking the approval of the Securities and Exchange Commission (“SEC”) of our concept for a security that could be traded on the BDTP™ because the SEC has not yet adopted rules or regulations specific to the digital securities industry nor any regulations involving blockchain or distributed ledger transactions.
We do not have any time frame for achieving any of the regulatory challenges although we believe that it may take between one to three years before the BDTP™ platform is operational with all required regulatory approvals.
No mention of the appeal to the Nevada Supreme Court in the latest lawsuit update and judging from the outstanding share count increased it would appear that the effort to extend the stay was not successful.
OTC outstanding share count dated January 5th 300,124,013 shares added. Restricted increased by 153,350,000 so what was added for current trading was about 146,774,013. Outstanding share count increase dated February 2nd for an additional 62,027,333 shares. This number closely matches the second tranche of shares listed in the January lawsuit update 8K of 62,023,333 shares. Outstanding share count increase dated March 1st for an additional 65,168,333 shares. This number exactly matches the third tranche number in the 8K. The last tranche directed by the preliminary injunction to come is for 68,425,500. So the 180 day holding period shows that the December tranche of lawsuit shares should be vested around the end of June. But the January 5th update was for a total of 300,124,013 shares, so they all could be eligible around then.
Update to November 6, 2023 Nevada Lawsuit
Date of report (Date of earliest event reported): January 11, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
Date of report (Date of earliest event reported): February 27, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm
No one one has been fired from some board. 🙄 Interesting that you believe people like myself are manipulators given your posts in December when you appreciated my input. Your posts below including one from myself rebuking your view that the dilution wasn't a short term issue. This stock got crushed at the end of December into the first week of January. Now you all are getting a respite because of the restraining order that GS Capital was able to get preventing Blackstar from trading any shares. Meanwhile Blackstar has been issuing lawsuit shares to to GS Capital which should be vested staring the last week of June. GS Capital may get hundreds of millions of more shares yet depending on the outcome of the trial. Meanwhile Blackstar's other note holders are sidelined.
zombywolf
Re: Bubae post# 6341
Sunday, December 10, 2023 3:29:48 PM
Post# 6344 of 12138
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zombywolf
Re: trademax42 post# 6831
Tuesday, December 12, 2023 1:03:36 PM
Post# 6832 of 12138
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zombywolf
Re: Bubae post# 7117
Thursday, December 14, 2023 8:56:55 AM
Post# 7120 of 12138
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Bubae
Member Level
Re: zombywolf post# 7120
Thursday, December 14, 2023 9:01:26 AM
Post# 7121 of 12138
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diatribe 🙄 Actual due diligence complete with links to the information can only be described as bashing if you believe that the information suggests a bad decision has been made on the part of a buyer of this stock. This can be flipped if you utilize the information correctly. My post below predicting the availability shares back in December. Friday December 22nd this stock closed at $0.0071 and the high for the day was $0.0087. By January 4th it closed at $0.0019. I was telling people it was a bad time to buy and it was.
This can be flipped if you can navigate the potential bad news of this lawsuit and the potential for others from debt that matured a couple of years ago. Maybe this CEO will instead of promoting for theses toxic lenders throw traders a bone to maintain the price level. I say flip it if you can but it would be best to be out by the end of June because new shares will once again be available for the foreseeable future.
Blackstar is promoting a product that cannot be monetized under current rules governing the trading of common stock and even if it could I doubt it would have much of a market in my opinion. This is why the stock was trading as low as $0.0001 just days before this heavily promoted runup and why these toxic lenders are moving shares with an average price below $0.0002. These lawsuit shares are priced at $0.00013.
Bubae
Member Level
Re: None
Saturday, December 23, 2023 10:12:19 AM
Post# 7962 of 12129
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173492266
Whoa, clueless! 🤣 Even managed to get that blockchain word in there that pumpers have been using for months. 😆 I guess that is the best one is expected to do when faced with the words of the company in print. Diagonal Lending got 591,386,247 of the 698 million shares issued in 2023, mostly in Q2, at an average price of $0.00017. Yet Blackstar in the latest lawsuit update is whining about the profit GS Capital is making from the pittance that Blackstar received. We will see how far that plea goes at trial considering that they signed a typical toxic lenders contract. If this doesn't go Blackstar's way they will get crushed and is why they are spending a small fortune defending. Gives everyone a good idea of how much this fiasco is, and will be, costing those who have chased this false narrative.
I'm thinking that the $600K number that they list will be low considering that only $5,933 in debt was converted in the first tranche issued for this note in Q2 2023 with 59,998,666 shares of the Company’s common stock at a conversion price of $0.00012 per share. These shares should have been vested in mid December and could have been part of the dump in late December that helped drop the price 70% into the first week of January. They could have made at least $200K and more dumping during this period. Now the new Tranches have been rolling out since December 21st which should cause more grief here starting the end of June. We are only talking about this single note balance in the lawsuit of $33K+. This company is covered up with much more old convertible debt with very nasty terms. More fun yet to come! 🤣
Date of report (Date of earliest event reported): February 27, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm
Amongst other claims, the Company alleges that the Plaintiff acted in bad faith and in violation of usury laws by recovering an estimated $600,000 dollars in BlackStar stock off of a $60,000 promissory note, estimated at a roughly 170% interest rate. The Company seeks a judgment in its favor and against Plaintiff, compensatory damages in an amount to be proven at trial, declaratory relief voiding the agreement as illegal under Section 29(b) of the Securities Act, punitive damages in an amount to be proven at trial, interest on all damages, and attorneys’ fees. The Company awaits a response to the counterclaims.
For the quarterly period ended June 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000073/begi-20230630.htm
NOTE 7 – CONVERTIBLE NOTES
For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
ITEM 1. LEGAL PROCEEDINGS
A LAWSUIT WAS FILED AGAINST THE COMPANY ON NOVEMBER 6, 2023.
On November 6, 2023, GS Capital Partners LLC filed a lawsuit against the Company in Nevada regarding the unavailability of conversion shares relating to the Promissory Note entered into on October 11, 2021 and the remaining principal balance of $33,682. The plaintiff is seeking specific performance for the reserve of 700,000,000 shares, or damages in excess of $15,000, plus interest, costs, and legal fees. The lawsuit increases the company’s financial and administrative burdens and is a risk to the Company’s capital. Although the Company is attempting to settle the dispute by paying the note in full, there is no guarantee that this will settle the matter in its entirety. The Company may need to increase the authorized shares of common stock in order to accommodate any judgments or settlements, and the Company could be exposed to further risks of lawsuits for similar issues.
First of all Blackstar's proposed trading platform isn't able to prevent naked short selling. Aside from the fact that naked shorty selling is not legal and unlikely happening with these stinky pinks despite the constant crying about it on these boards. Short selling is considered naked when the entity shorting the stock doesn't bother to borrow the shares first, so locking shares away in some scheme makes no difference. This trading platform is intended to trade OTC stock and I for one have never bought into the narrative that short selling is what decimates tickers like this one unless it is coordinated by these toxic lenders and they sure as he77 won't lock their shares way.
The S-1 offering prospectus is the source for what the trading platform is and how it works. Below is one of the last SEC Q&A correspondence letters used to flesh out the S-1 offering prospectus. When I read over the explanation in the letter about how the trading platform would work I find myself asking why would I do this let alone pay a fee for the privilege. Why would a broker / dealer go to the trouble and expense and would a company really require anyone who purchases their stock to jump the hoops and expense? Is there really some problem with how shares are traded already that would motivate one to use their idea?
SEC correspondence letter dated 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.
Again, Blackstar's product has nothing to do with predatory financing. Companies like this submit to terrible lending terms because they must or go without. As of December 31st 2022 there were 546,495,214 shares outstanding. They issued 698,077,221 shares the first nine months of 2023 more than doubling the shares count to settle only $116,725 at and average of $0.00017 a share. Now the outstanding shares count is 1,671,892,114 with some very old and expensive notes just waiting for their turn. So that would be another 427,319,679 issued since December. Around the end of June with the 180 day holding period for those unregistered shares this will get very busy again.
For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
During the nine months ended September 30, 2023, the Company issued shares of its common stock as follows:
The method patent is for trading common shares on a blockchain ledger based on Amazons product. It has nothing to do with the agreements with these predatory lenders so how does it protect investors. Blackstar set up these notes and the lenders spiked it for a very large profit off the backs of OTC traders who are ALWAYS more than willing to chase the promotion. Meanwhile Blackstar has pretty soiled their relationships with institutional lenders and now has a series of eight nine month notes from "unrelated individuals" per the Q3 2023 filing. Two of those matured in December, two more in February.
Bubae
Re: moondogaz post# 11690
Monday, February 19, 2024 6:40:18 AM
Post# 11698 of 12114
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173875824
We have another lawsuit update 8K! 🤣 I appears that the GS Capital lawsuit is going to trial with pretrial conference scheduled for March 25th according to the docket update. Blackstar is claiming that GS Capital requested their shares after the note was paid in cash. So I see a request for shares by GS Capital date in the January lawsuit update 8K of November 2nd 2023. Then GS Capital files the lawsuit on November 6th followed by the granting of the restraining order by the court on Blackstar dated November 9th according to the docket schedule. We do see an attempted payment by Blackstar dated November 15th in the Q3 2023 filing. I say attempted payment because this is what Blackstar states in the January lawsuit update 8K "...The Company attempted to resolve the dispute by paying the note in full..." The November 15th date of "attempted" payment was well after the November 2nd request for shares but who am I to say since I admit that I am not an attorney. 😆 This is fun to watch as Blackstar twists in the legal winds over a stupid note remaining principle balance of only $33,682. 🙄
8K - Date of report (Date of earliest event reported): October 1, 2021
GS Capital Partners, LLC Note
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594921000193/begi8k2021.htm
Update to November 6, 2023 Nevada Lawsuit
Date of report (Date of earliest event reported): January 11, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
The Company attempted to resolve the dispute by paying the note in full. Plaintiff accepted full payment. However, after accepting full payment, and in the context of a preliminary injunction, the Plaintiff requested specific performance (a mandatory injunction) to obtain conversion of certain shares based on Plaintiff’s representation that it “would have” made conversions prior to the payoff it undisputedly accepted.
Meanwhile, the preliminary injunction ordered the Company to honor the conversion requests of November 2, 2023 (for the conversion of 62,084,333 shares of common stock – completed December 21, 2023) and the three subsequent requests GS Capital claimed it “would have” made...
Update to November 6, 2023 Nevada Lawsuit
Date of report (Date of earliest event reported): February 27, 2024
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm
...the Company invokes several affirmative defenses that bar Plaintiff’s recovery in the action and alleges that Plaintiff breached the terms of the agreement, including, but not limited to, obtaining the conversion of BlackStar’s stock after the Promissory Note was fully paid off.
Amongst other claims, the Company alleges that the Plaintiff acted in bad faith and in violation of usury laws by recovering an estimated $600,000 dollars in BlackStar stock off of a $60,000 promissory note, estimated at a roughly 170% interest rate....
For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
ITEM 1. LEGAL PROCEEDINGS
Subsequent to the end of the period covered in this filing, on November 6, 2023, the Company was notified of a lawsuit filed in Clark County, NV against the Company by GS Capital Partners LLC regarding the unavailability of conversion shares relating to the Promissory Note entered into on October 11, 2021 and the remaining principal balance of $33,682. The plaintiff sought specific performance for the reserve of 700,000,000 shares, or damages in excess of $15,000, plus interest, costs, and legal fees. The Company has paid the note in full on November 15, 2023 totaling $51,196.71 in cash and issued no shares. The Company is attempting to settle the dispute.
case number is A-23-881099-B, plug it into the court search query linked below.
https://www.clarkcountycourts.us/Portal/
It really is bizarre for even a stinky pink ticker to be so irresponsible as to be in such a position over notes for as little as $33K. The consequences of the current lawsuit for not handing over the requested shares for the GS Capital note balance of $33,682 could be severe not to mention that the restraining order shut down Blackstar's ability to convert more debt while the sun was shining in November.
Then we have 2020 note of $33,275 for Quick Capital that matured on July 16, 2021 and was declared in default in April 2022. At the time of default Quick Capital was claiming $133,317 and with the $24% default interest that note should be well over $200K by now. This is a particularly nasty note with conversion language that calls for a 50% discount to the lowest trading price during the delinquency period. We see two dates just prior to the November runup of $0.0002.
The S-1 offering originally filed in July 2021 indicates that the proceeds are for three notes one being the Quick Capital note. The two other notes have principle balances as of September 30th totaling $597,534. This company doesn't show the current balance with interest in its filings for some reason. Those two notes matured nearly two years ago. The S-1 received its notice of effect in July 2023 and it is doubtful that it hit the price level needed prior to GS Capital obtaining the restraining order in November preventing Blackstar from trading any shares. We will see in the annual that should be released by the first week of April.
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
November 2020 Quick Capital Note 8K
https://www.sec.gov/Archives/edgar/data/1483646/000106594920000165/blackstar8knov252020.htm
Amounts Due in Events of Default:
Upon the failure to pay principal and interest, the Note shall become immediately due and payable. Upon the failure to issue conversion shares when Holder exercises said right, or other events of default outlined in the Note, then two times (2x) the Default Amount of the Note will become due and payable immediately. Any other form of default will entitle the Holder to (i) an immediate payment of one hundred fifty percent (150%) of the Default Amount, being the outstanding principal amount of the Note, plus accrued and unpaid interest on the unpaid principal amount of the Note, plus any default interest and any other amounts owed or ...
...and the Holder shall be entitled to use the lowest Trading Price during the delinquency period as a base price for the conversion with the Variable Conversion Price shall at the option of the Holder be redefined to mean fifty percent (50%) multiplied by the Market Price, subject to adjustment as provided in the Note.
For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
NOTE 7 – CONVERTIBLE NOTES
In April 2022, Quick Capital LLC issued a notice of default on its $33,275 convertible note to the Company dated November 16, 2020 and stated that the outstanding amount due on the note is $133,317, the default interest per annum is 24%, and that the conversion price is the lowest trading price during the delinquency period with a 50% discount. The Company has recorded accrued default interest on the note at the rate of 24% per annum from May 24, 2021 (date of default) to September 30, 2023 based on the original loan value of $33,275. At September 30, 2023, the accompanying financial statements reflects an outstanding loan balance due to Quick Capital LLC of $33,275 and accrued interest of $9,569. The Company and Quick Capital LLC have been in discussions to reach a reasonable and fair settlement of the balance due on the financing agreement.
I got a chuckle out of that. You are one of the few who still pushes the BS monopoly claim. The CEO himself side steps that now in his second paid infomercial interview. What he states now is "...we were given a 20 year LOOK at the market..." and ..." for the next 20 years the patent will be in effect...". Gone is the talk of a monopoly. That monopoly claim when this promotion was launched on October 24th really drove the hype on social media and scammed a lot of traders. Post #11986 with the link to the infomercial.
The CEO also states at the end of the first infomercial that ...securities that are traded LEGALLY in the form of tokens securitized by common stock which is thrown into a blockchain... Post# 11959 with the video linked talks about this.
Bubae
Re: None
Wednesday, March 06, 2024 6:22:20 PM
Post# 11986 of 12095
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173988505
Bubae
Re: kid biscuit post# 11955
Saturday, March 02, 2024 11:52:59 AM
Post# 11959 of 12095
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173958908
BlackStar will Receive a Patent on its Revolutionary Digital Trading Platform: A Blockchain Encrypted Infrastructure Designed to Enable Digital Assets that are Securities to Trade on a Blockchain.
Tuesday, 24 October 2023 09:30 AM
https://www.accesswire.com/795852/blackstar-will-receive-a-patent-on-its-revolutionary-digital-trading-platform-a-blockchain-encrypted-infrastructure-designed-to-enable-digital-assets-that-are-securities-to-trade-on-a-blockchain
Blackstar didn't need to have the method patent allowed to use their trading platform idea. They have been trying to use their trading platform for years and have not been able to.
Bubae
Member Level
: kid biscuit post# 11912
Wednesday, February 28, 2024 6:16:48 PM
Post# 11917 of 12074
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Member Level
Re: kid biscuit post# 8965
Sunday, January 07, 2024 3:56:27 PM
Post# 9006 of 12074
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173579022
Not sure what you believe you are accomplishing. 🙄 You will need to do a lot better than that to push it past 19. 🤣 It even looks like you are unwilling to buy above 19, but you would expect the next fool to, right?
Greater fool theory
https://en.wikipedia.org/wiki/Greater_fool_theory
In finance, the greater fool theory suggests that one can sometimes make money through the purchase of overvalued assets with a purchase price drastically exceeding the intrinsic value if those assets can later be resold at an even higher price.
In this context, one "fool" might pay for an overpriced asset, hoping that they can sell it to an even "greater fool" and make a profit. This only works as long as there are enough new "greater fools" willing to pay higher and higher prices for the asset. Eventually, investors can no longer deny that the price is out of touch with reality, at which point a sell-off can cause the price to drop significantly until it is closer to its fair value, which in some cases could be zero.
What Blackstar is doing with their method patent which utilizes Amazon's technology has nothing to do with how crypto currencies utilize blockchain technology. The CEO even tried to conflate the two in his second paid infomercial interview. You have been here quite a while and you know this. 🙄 Links to the information including the video in post# 11844 linked below.
Bubae
Re: kid biscuit post# 11841
Wednesday, February 21, 2024 7:08:29 PM
Post# 11844 of 12087
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173895419
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
THE COMPANY MAY FACE REPUTATIONAL HARM, LOSS OF FINANCING, STOCK PRICE VOLATILITY, AND/OR LOW DEMAND FOR SERVICES BY PROXIMITY TO THE CRYPTO ASSET MARKET.
The Company does not operate in the crypto asset markets, does not have crypto asset holdings, and is not proposing to participate in the crypto asset industry, including crypto securities, crypto currencies, and tokens. The use of a blockchain in our proposed platform often gets conflated with crypto asset markets due to blockchain’s use in those industries as well.
So with the dilution potential guess work out of the way is there any potential that this could chew its way through the 2s? Huge dilution dumps from the 6s down to the 2s and I suspect most who remain have averages in that range. These people see the dilution that will become available at the end of June and that is the tip of the iceberg.
We have a court docket update showing a court date of March 25th for what they are calling a "Mandatory Rule 16 Conference", From what I read it appears to be a pretrial conference or possibly a settlement? So this lawsuit is likely costing Blackstar a small fortune, cash they certainly don't have. They could also be on the hook for GS Capitals legal expenses to go along with the interest and penalties due on the now defaulted note.
We should get the annual filing the first week of April after the late notice which should reveal that the S-1 offering is still intact and the dilution that they had queued up for this promotional period was all stopped by the lawsuit restraining order. The company has zero revenue so I'm not sure what potential catalyst could be in the offing. At this point if I were to pick an entry I would have no expectation of flipping beyond 2. Bad news from the lawsuit could tip this into trips. As it is, Blackstar may need to increase the authorized share count if they intent to honor the share reserve requirements for the debt they still hold.
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ixviewer/ix.html?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.
case number is A-23-881099-B, plug it into the court search query linked below.
https://www.clarkcountycourts.us/Portal/
I'm thinking that there may be zero shares available at the moment. That is based on no share count increased from October to December 21st when the first tranche of 62,084,333 GS Capital shares was issued per the preliminary injunction ordered by the court. This would also be based on the restraining order that GS Capital was able to get back in November preventing Blackstar from trading any shares.
According to the lawsuit update 8K we are looking at 257,000,000 shares ordered to cover the $33,682. We see a updated OTC outstanding share count dated January 5th 300,124,013 shares added. Restricted increased by 153,350,000 so what was added for current trading was about 146,774,013. Outstanding share count increase dated February 2nd for an additional 62,027,333 shares. This number closely matches the second tranche of shares listed in the lawsuit update 8K of 62,023,333 shares. Outstanding share count increase dated March 1st for an additional 65,168,333 shares. This number exactly matches the third tranche number in the 8K. The last tranche directed by the preliminary injunction to come is for 68,425,500. So the 180 day holding period shows that the December tranche of lawsuit shares should be vested around the end of June. But the January 5th update was for a total of 300,124,013 shares, so they all could be eligible around then.
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
At the outset of the case, a temporary restraining order was entered preventing the Company from trading any shares.
Meanwhile, the preliminary injunction ordered the Company to honor the conversion requests of November 2, 2023 (for the conversion of 62,084,333 shares of common stock – completed December 21, 2023) and the three subsequent requests GS Capital claimed it “would have” made (62,023,333 shares, 65,168,333 shares, and 68,425,500 shares)....
For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
As of November 1, 2023, there were 1,244,572,435 shares of the registrant’s common stock, $0.001 par value, issued and outstanding, not including shares reserved for conversion of notes.