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Not compensated by anyone in any way. Fools in this market believe that these trash tickers are sold short. This was an obvious short sale candidate when it was trading above a penny and I said so at the time. If it were easy it should have been sold short down to where it is quickly then let the dilution that was in place do its magic. What has happened to this point was obvious for those who read the filings.
So don't debate the content which are the words of the company. Whine about the person posting real due diligence. Don't blame the CEO who entered into notes with such nasty terms, the person who who is paying for media promotion with even more shares to maximize the return for theses lenders who already are banking obscene profits from those notes. Those profits are trading losses by someone. Don't blame a CEO who stumbled into a very costly lawsuit over a principle balance of only $33,682. You want to blame me for the dilution and the massive losses being banked here. I blame those of you who have been trying to pump your flips since a penny for the trading losses going directly into the accounts of these predatory lenders that you all complain about.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
Liquidity and Capital Resources
.... the Company issued, as partial consideration, 25,000,000 shares of its common stock (valued at $100,000) to a media consulting firm for investor relations services under a six-month agreement through May 2024.
Ever? I have argued that it would have a difficult time getting back into the 2s after months of infomercials and new share dumps. My post the morning of March 22nd linked below on an infomercial day generating 119 million in trading volume and the price closed at $0.0019 with only a few trades at 2. We have seen the share count increase by 495,744,512 shares for 2024 so far. 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.
The last update was April 12th. Expecting another update and increase soon. Look at the number for the float dated October 31st 2023 of 1,606,723,782 shares. That is the number currently listed on the OTC site. That would suggest that very few share have actually been issued. The share count as of November 1st 2023 according to the quarterly filing for the period ended September 30, 2023 was 1,244,572,435. Plenty of dilution potential left on notes that matured two years ago.
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
Page 1
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.
Bubae
Re: None
Friday, March 22, 2024 10:02:20 AM
Post# 12266 of 13353
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174091136
The SEC is in the patent business now? The SEC regulates securities and the rules do not allow the use of Blackstar's trading platform. The SEC has been moving to address the toxic conversions since 2022. I talk about this in post# 13334 which explains why these lenders are likely observing the 180 day holding period and why this stock will see a lot of new shares coming into the market the second half of 2024. ..that is exactly why the SEC gave our CEO all the patents in the 1st place. ....that's why they sued for shares over cash, shares they can dump on the backs of retail retail again, it's a mafi* style system literally robbing tens of 1000's of investors for virtually decades out of tens to hundreds of billions. ...Why leave Death Spiral Finance around to wreak havoc as the cost of high dollar A.I. gets cheaper where they start having capability like Forbes, and Buffet and Friends could when they 1st started using it in earnest 7 yrs ago...
Blackstar signed those agreements. Blame the toxic lenders for cashing in not the CEO who signed the agreements and the later actually contracted for MORE shares to pay for the media promotions to move those conversions for maximum effect. See any price appreciation after the three infomercials since the beginning of the year? Nope, what they got was the volume needed to move shares at a very healthy price relative to their conversions price. I have to commend this CEO for stuffing the pockets of those you complain about with retail trading losses. Can't make this stuff up. 😆
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
Liquidity and Capital Resources
.... the Company issued, as partial consideration, 25,000,000 shares of its common stock (valued at $100,000) to a media consulting firm for investor relations services under a six-month agreement through May 2024.
Re: SorcererDiviner18 post# 13332
Saturday, April 27, 2024 5:34:47 PM
Post# 13334 of 13347
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174317005
The SEC has been working on Rule 144 holding period amendments for some time. These amendments were to be formalized April 2024 and are now scheduled for October 2024. This rule 144 holding period amendment will codify what the SEC has been enforcing since 2022 charging toxic lenders with failing to register as dealers. This is why I believe that the share dumps at the end of 2023 and through Q1 2024 were the result of shares converted in Q2 and Q3 2023. That nearly 500 million new shares for 2024 will begin to hammer this into a pulp starting the end of June after the 180 day holding period from what I see.
When you start quoting someone you might provide links to the information for context. If you conduct a simple search on the word "crook" for this board you will find that nowhere did I use the word. Another huge rant without an supporting evidence for what you post based on conjecture and personal distraction. Follow your comments and my supported answers. ...you immediately called the CEO a crook when he tried to pay off one the last notes to the Death Spiral Financiers in cash to settle the debt... ...After multiple times asking you why you support Death Spiral Financier's in your posts, you never, ever, ever, ever, ever, ever answer my questions,... Refuse to accept the fact or discuss that BEGI actually has a very low float compared to all the rest of the OTC, or approx.155 million shares at a price of .00006 pps., "Why are they suing for shares instead of cash if the company is worth nothing, as you say ?" ...Your friends overall as an industry have been taking 10's of billions from investors for decades...,
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=DD86B554D3E6998D3A6E9EB41AA71067?csIID=68335
Document 24-03599
...Because of a dramatic increase in Blackstar’s stock price, the “conversion option” here became “in the money” and profitable. Naturally, GS Capital sought to exercise its conversion rights to receive shares of Blackstar stock—the benefit of its bargain. Blackstar refused. Then, after several weeks—during which GS Capital would have received about 257 million shares through conversions—Blackstar attempted to pay off the Note and thereby argue that, retroactively, GS Capital’s conversion rights are thereby extinguished. GS Capital argued this absurd result would be similar to a stock option seller unilaterally returning the option’s purchase price in an effort to rescind the option purchase because the option was now “in the money” and costly to the seller. The lower court correctly agreed with GS Capital and required Blackstar to reserve the contractually-mandated shares.
Second, Blackstar shockingly omits that it contractually agreed that GS Capital is entitled to injunctive relief and specific performance in the event of a breach, on which the Order correctly relied. Blackstar also omits that the Note, as amended— 123678829.13 under which GS Capital sued—provided for exclusive Nevada jurisdiction.
The low float scenario has already played out with the run to a penny on heavy social media promotion in November while the 698 million shares issued at an average price of only $0.00017 was being rolled out.
Bubae
Re: gshores post# 7706
Wednesday, December 20, 2023 4:27:59 PM
Post# 7731 of 13345
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173472167
Must remember that these people control a large percentage of the float right now and will be rolling those hundreds of millions of shares out over the next few months. That 698 million shares converted from Q1 through Q3 more than doubled the share count.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
NOTE 12 – SUBSEQUENT EVENTS
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
Truly a dumb question when they are receiving their shares at such a discount to market.
Greater fool theory
https://en.wikipedia.org/wiki/Greater_fool_theory
First I am compensated by anyone in any fashion. Place blame where it has been earned. It wasn't I who entered into such toxic note agreements and it wasn't I who is personally promoting in the infomercials to maximize the return for these lenders.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
Liquidity and Capital Resources
.... the Company issued, as partial consideration, 25,000,000 shares of its common stock (valued at $100,000) to a media consulting firm for investor relations services under a six-month agreement through May 2024.
Seems that I am the one who posts facts WITH links which makes my posts unassailable which is the reason you all focus on petty personal distractions. It takes a bit of work to dig up factual due diligence. I could give a rip what the DTC is doing and since you didn't provide any information for that either who cares. Recent SEC actions and pending rule 144 changes are what has put an end to immediate toxic share dumps.
The SEC has been working on Rule 144 holding period amendments for some time. These amendments were to be formalized April 2024 and are now scheduled for October 2024. This rule 144 holding period amendment will codify what the SEC has been enforcing since 2022 charging toxic lenders with failing to register as dealers. This is why I believe that the share dumps at the end of 2023 and through Q1 2024 were the result of shares converted in Q2 and Q3 2023. That nearly 500 million new shares for 2024 will begin to hammer this into a pulp starting the end of June after the 180 day holding period from what I see.
SEC Publishes Fall 2023 Regulatory Agenda
Posted on December 7, 2023
https://www.knowntrends.com/2023/12/sec-publishes-fall-2023-regulatory-agenda/
Selected Proposed Rules. In this Regulatory Agenda, the SEC has moved the target date for proposing rules for Corporate Board Diversity and the Rule 144 Holding Period, from April 2024 to October 2024,...
Stock Issuers & SEC Taking the Fight to ‘Toxic’ Lenders
Agency bringing actions against convertible noteholders for failing to register as dealers
by Howard Mulligan August 15, 2023 in Financial Services
https://www.corporatecomplianceinsights.com/sec-toxic-lenders/#:~:text=Since%20early%202020%2C%20the%20SEC,required%20by%20the%20Securities%20and
Since early 2020, the SEC has been investigating purchasers of convertible notes of issuers trading on OTC Markets Group and has initiated several enforcement actions against these noteholders for violations of federal securities laws, particularly failure to register as a “dealer,” as is required by the Securities and Exchange Act of 1934, as amended.
Pump and dump schemes have everything to do with the rules governing securities and the terms of the notes. They have nothing to do with Blackstar's product. Blackstar claims to be able to prevent short sales which has nothing to do with toxic dumps.
Their proposed trading platform operates in a distinct and separate market with liquidity issues. As an OTC trader, not long term investor, I would have nothing to do with type of trading. Short selling in the OTC is largely a myth that is perpetrated by those confused by the toxic note conversions. If you ever notice in the infomercials the CEO doesn't really flesh out a real world trading scenario and consequences for the individual trader who will eventually be asked to deal with their product.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 19
Frequently Asked Questions regarding Proposed BDTP ™ platform
Will the BEFS traded on the proposed BDTPTM trade at different prices than the OTC Pink?
Because it is a distinct market from the OTC Pink, where the common shares currently trade, there is a possibility that the prices reflected for the common shares will differ across the trading markets. BDTPTM, for instance, only accepts free trading securities (of BlackStar common stock) for cash and prohibits shorting. As a result, there could be a difference in price from one market to the next due to different liquidity in the markets as there are arbitrage opportunities in both separate trading venues.
SEC Correspondence February 13, 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000009/filename1.htm
Please clarify whether the trading market operating on the platform is distinct and separate from the OTC market on which the common shares currently trade, and whether there could be discrepancies between the trading prices of common shares and electronic fungible shares, whether resulting from different liquidity in the markets or otherwise.
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.
The S-1 prospectus was last updated in June 2023 with the notice of effect in July. The patent received its notice of allowance in October. The patent is based on information prior to this activity. What you see in the prospectus is the current state. The method for the trading platform was written on Amazons product which is why it is largely unpatentable. It is like writing a macro based application using Microsoft's EXCEL for some data tracking spreadsheet. They have done the same with Amazons blockchain ledger application. I don't believe there is much risk of someone trying to do what Blackstar proposes since the SEC isn't allowing it to operate. The CEO himself revealed in the first infomercial that securities are already being traded on a blockchain in the form of tokens. That is the future. Link to the video and the CEO's comment at about 9:30 into the segment. Want to talk about tokenized securities? The CEO talked about securities that are ...currently are traded LEGALLY in the form of tokens securitized by common stock which is thrown into a blockchain. Link to that infomercial below where the CEO makes the statement starting at about 9:30 into the segment.
Bubae
Member Level
Re: Joe DiMaggio post# 12658
Monday, April 01, 2024 10:43:53 AM
Post# 12668 of 13329
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174150905
It isn't simply some sort of "...needs some sort of "approval" or "go-ahead". "The BDTP™ has not been approved by any regulatory agency or broker dealer and is not currently operational." At this point it looks like the issue is more than not being able to obtain a relationship with a ATS or Broker /Dealer, rather it appears to be a regulatory issue. We can not know for sure because the CEO doesn't address this issue directly in any of the infomercials or even in the filings. Simply states what is linked below. Corporate Governance, Auditing, Funding requires no approval. Only digital trading that requires an ATS needs some sort of "approval" or "go-ahead".
As for the other ideas penciled into the same template, the system and method patents appear to be pretty weak even if someone was interested in doing the same thing. After all that is all a patent provides, the right to defend their method or system. While the trading platform idea has been promoted for years it didn't take them long to roll something else out once the basic template for the system and method was established and accepted by the patent office. According to Blackstar "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how..." further the applications that they have developed depends on Amazons AWS technology.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 3
DESCRIPTION OF BUSINESS
We are based in Boulder, Colorado and are engaged in Merchant Banking and Finance in the United States....
...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. We have recognized net losses of $1,046,983 in the year ended December 31, 2023. We have relied solely on sales of our securities, convertible note financing, and private loans to fund our operations.
Page 5
HISTORY
Definitions
BlackStar Digital Trading Platform (“BDTP™”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP™ has not been approved by any regulatory agency or broker dealer and is not currently operational.)
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
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.
We all now that your two cents has been consistently wrong since this was trading above a penny. How about a few facts with links. GS Capital has the contract and appears to hold all the cards in this lawsuit. The pressure to settle is all on Blackstar and the consequences are so egregious that Blackstar is compelled to spend a ton of cash that they do not have to defend. It appears that they are wholly relying on the sympathy of the courts to me. ...possibly GS Capitol is quietly buying up as many shares as they can afford to offer Blackstar a settlement deal before a judgement in court is rendered........just my 2 cents on it.
When you read the back and forth in the documents on the Nevada Supreme Court site you can see that Blackstar is way out of their depth in trying to defend their actions. The bottom line is in the Nevada Supreme Courts ruling denying the stay, "When a contract is clear on its face, it will be construed from the written language and enforced as written." That is a pretty powerful statement. Blackstar signed a terrible agreement for which they must now pay the consequences. This is what happens when there are adults are in the room.
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=DD86B554D3E6998D3A6E9EB41AA71067?csIID=68335
Document 24-05565
("When a contract is clear on its
face, it will be construed from the written language and enforced as
written." (internal quote marks omitted)); and appellant has not
demonstrated a likelihood of success on the merits sufficient to tip the
balance of the NRAP 8(c) factors in favor of a stay. Accordingly, we deny
appellant's motions.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page56
Results of Operations
Legal and professional fees of $326,527 for the year ended December 31, 2023 increased by $199,135 from $127,392 for the year ended December 31, 2022. During 2023 the Company incurred legal fees for litigation and settlement of issues with convertible debt holders which were not incurred in prior years, in addition to recurring costs for SEC regulatory and statutory filings matters. Fees for 2022 were predominately for SEC regulatory and statutory filings, fees for annual audit and quarterly reviews and filings for a Registration Statement on Form S-1 to register underlying common shares for issuance to investors.
Fire away friendo, if facts about your history here is offensive then you should think about that. This isn't your board and you are by far the nastiest purveyor. I would recommend that you contact admin if you have a problem with my posts.
I got a chuckle out of that. 🤣 someone paints the tape with 15K shares 20 seconds before the close and you are beside yourself with glee to finally break 2. Back around the time this hit the 52 week high of $0.0128 you claimed to "...own a sizeable amount of the float." You may be green today but you are clearly amongst the biggest losers in this ticker. But don't let that temper your rhetoric on this board. My dude, if you sold out of BEGI and stated you moving on, then why the fock you still here pissing and complaining and trying to shoot down Blackstar. Are you trying to save the little guy investor and make us beware the Blackstar or are you really just trying to scare up more shares and knock the price down??? The more you bash, the more I make, I own a sizeable amount of the float. Your fear tactics only encourage those like me to hold and accumulate more shares.
Savannah-Marc
Re: ice trader post# 4303
Wednesday, November 29, 2023 10:33:21 PM
Post# 4442 of 13310
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173325037
BLACKSTAR TO $5 A SHARE!!!!!
PLEASE BASH BEGI MORE, IT ONLY SHOWS THAT YOU'RE HERE AND WITH AN AGENDA!!!!!
Share count increases for 2024 totaling 495,744,512 new shares added to the outstanding share count since the beginning of 2024. Of those 195,620,499 shares were issued at a price of only $0.00006 per share. What our desperate friendo calls lies. Two weeks since the last update.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page F-19
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
They have been filling the 2s with new shares since the beginning of the year when the price closed at $0.0019 on January 4th. Looks like the liquidity is drying up with less than 3.5 million shares traded so far today. Not good news for this company who sits on a ton of convertible debt. There have been 495,744,512 new shares added to the outstanding share count since the beginning of 2024 and the three infomercials hasn't done much for price. Of those 195,620,499 shares were issued at a price of only $0.00006 per share. It matters little what current holders do, what Blackstar lenders need is new money and a lot of if.
I have to disagree. There are many issues with how this ticker has conducted itself. Just as an example that I have posted about before is the use of the float number at the OTC site to deceive. I gets changed and has never been correct. I also question the timing for the share count updates when compared to the filings. The current float on the OTC site is 1,606,723,782 shares dated 10/31/2023. We know from the Q3 filing that the total outstanding share count for November 1st was 1,244,572,435 shares. The current float would suggest that relatively few shares have been added for 2024 when we know that 495,744,512 new shares added to the outstanding share count since the beginning of 2024. Screen shot below of the securities detail page dated for January 5th 2024 shows a float of 1,100,573,435 dated August 1st 2022. We know from the Q2 filing for 2022 that there were only 285,357,307 total outstanding shares as of August 9th 2022.
OTC Site for $BEGI
https://www.otcmarkets.com/stock/BEGI/security
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.
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.
Those terms would apply to you sir given your constant conjecture riddle promotion since this was trading above a penny. An interesting back an forth between us with your response on December 19th. I called you out as a shameless pumper at that time. Lets see, there was a high on December 21st of $0087 and a close at $0.0073. By January 4th the price closed at $0.0019. So who should the terms "...Liar, Thief, and Stock Manipulator" apply to? You are the terms Liar, Thief, and Stock Manipulator. Having paid bashers trying to attempt to diminish Blackstar is very very flattering! All it means is that Blackstar shareholders own something really really special and valuable! ...What got me to actually buy into this company was speaking with CEO Joe K. and hearing his conviction and years of developing fruition of his trademark software. BEGI has the potential to merge with the global equities exchanges and banking industries.... ...Got your private message and I 100% agree! ...I am scheduled to speak with Blackstar again soon. Speaking to the CEO was enthralling! Joe K. convinced me to buy! His energy and insight into this was extremely intriguing! He's like a Satoshi Nakamoto type!
Savannah-Marc
Re: Bubae post# 7267
Tuesday, December 19, 2023 9:23:05 AM
Post# 7536 of 13273
How insane is it to think that an unknown sub-penny stock has paid bashers!!!
BEGI BILLIONS BULLISHNESS !!$$!!$$!!
Member Level
Re: Savannah-Marc post# 7193
Saturday, December 16, 2023 7:35:59 AM
Post# 7267 of 13273
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173442108
If I were being paid for my activity I would be required to disclose it the same as a paid promoter. If you believe I am engaged in some nefarious activity I would emphatically encourage you to report this to the SEC. It is very easy. Tip - write up your complaint in a Word or PDF document in detail. This will help with filling out the form using the copy and paste tools and you will be able to attach the document to the complaint in the last steps of the procedure. This form with supporting information in hand will only take about twenty minutes. I would encourage all to do this. I am trying to bring the SEC's attention to my posting activity myself. 😏
Report Suspected Securities Fraud or Wrongdoing
https://www.sec.gov/tcr
SEC Targets Social Media Manipulation, Solicits Whistleblower Tips from Public
https://whistleblowersblog.org/corporate-whistleblowers/sec-targets-social-media-manipulation-solicits-whistleblower-tips-from-public/
Savannah-Marc
Re: JohnnyRothrock post# 3526
Wednesday, November 22, 2023 9:11:47 PM
Post# 3546 of 6165
Re: goingUPagain post# 4389
Thursday, November 30, 2023 11:11:13 AM
Post# 4541 of 6166
I can tell you for a fact that there have been complaints because I have filed them myself. It is very easy to do. Select the "submit a Tip" button on the SEC site and you are on your way. There has been a lot of money lost here while this CEO is personally engaged in promotion while those converting those cheap shares bank huge profits.
Office of the Whistleblower
https://www.sec.gov/whistleblower/submit-a-tip
Seriously, how do you call something lies when the links to the company's own print is provided. My history is full of such due diligence for those conducting their own due diligence. Not for those like yourself who have been stuck in this since it was selling North of a penny. Try to discredit the content for once. What I revealed in my last post is worthy of another SEC complaint in my opinion.
Q1 will be an interesting read. I'm looking for clarification regarding the conversion price for the GS Capital lawsuit shares issued so far. The two 8Ks filed as lawsuit updates indicates a conversion price for the $33,682 remaining principle with the 257 million shares estimate to be roughly $0.00013 a share. The statement in the annual filing listed the conversions on the GS Capital October note to be $0.00006 a share.
The 195,620,499 shares shown for 2024 would only be $11,737. Add in the 62,084,333 shares at $0.00006 we get another $3,725 for a total of $15,463. Add up the three additional tranches estimated in the lawsuit updates we get 195,617,166 shares which is very close to what is stated in the annual. So which is it? They have either issued half the shares needed or they have complete the shares ordered in the preliminary injunction.
The Nevada Supreme Court denied an extension of the stay so the GS Capital shares would have become available after February 15th. So what is going on with just the GS Capital dilution is clear as mud. Likely by design. If the price actually is $0.00006 a share which would suggest many more shares to come, why was it not revealed in the February 8K.
Date of report (Date of earliest event reported): January 11, 2024
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
the remaining principal and interest on a Promissory Note entered into on October 11, 2021, which had a remaining principal balance of $33,682. At the outset of the case, a temporary restraining order was entered preventing the Company from trading any shares. As currently postured, Plaintiff seeks specific performance (a mandatory injunction) requiring the conversion of approximately 257,000,000 shares and possibly additional recovery of legal fees and interest. The lawsuit increases the Company’s financial and administrative burdens and is a risk to the Company’s capital.
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). In order to comply with the mandatory injunction, prior to the stay, the Company increased the share reserve for GS Capital Partners LLC and they subsequently completed the first two conversions.
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
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page F-19
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
You should learn the terms "facts","links" and "conjecture".
The last time they filed the 10K late was in 2020 and didn't release it until July 10th 2020. What happened that year was the closing of their second failed treatment center. They dumped 1.3 billion shares in the first eight weeks of 2020. Look what they said about the Canadian property in January 2020 while they were closing their only treatment center. That property was their best performing asset and they handed it over to Leonite for Debt in 2023. That was the second property that Leonite acquired for debt from Ethema Health. Has Shawn Leon's Ethema Health finally hit the end of the road?
Ethema Working on Acquisition Financing and Debt Reduction for 1st Quarter
January 16, 2020 15:31 ET
https://www.globenewswire.com/en/news-release/2020/01/16/1971711/0/en/Ethema-Working-on-Acquisition-Financing-and-Debt-Reduction-for-1st-Quarter.html
The termination of the operation in West Palm Beach will dramatically reduce the negative cash flow of the Company and allow it to focus on cleaning up the debt on the balance sheet as it works towards completing the acquisition. As part of these efforts to reduce debt, the Company is in talks with certain lenders and shareholders of the Company, around the possible sale of the Canadian subsidiary that owns the real estate of the Company’s former operations in Canada. This could help reduce the majority of the debt in one step.
For the fiscal year ended: December 31, 2019
https://www.sec.gov/Archives/edgar/data/792935/000172186820000304/f2sgrst10k070620.htm
Net loss
Net loss of $(14,962,841) and $(8,178,643) for the years ended December 31, 2019 and 2018, respectively, an increase of $6,784,198 or 83.0%, is primarily due to the increase in operating expenses in the current year, the loss on the sale of assets, the loss on debt conversions, the penalty on convertible notes and the deposit forfeited, offset by the increased credit on the derivative liability movement during the current year.
On December 20, 2019, the Company entered into an agreement to terminate the lease agreement on January 30, 2020. The deposit forfeited was $1,665,078 for the year ended December 31, 2019. The deposit forfeited represents deposits initially paid for the acquisition of the West Palm Beach treatment facility located at 5400, 5402 and 5410 East Avenue West Palm Beach. We were unable to consummate the purchase transaction and entered into a lease agreement with the landlord, the deposit initially paid was offset against outstanding rental. The excess was recorded as a forfeiture.
For the quarterly period ended March 31, 2020
https://www.sec.gov/Archives/edgar/data/792935/000172186820000426/f2sgrst10q092120.htm
12. Stockholders' deficit
a) Common shares
Between January 6, 2020 and February 27, 2020, the Company issued 1,316,679,078 shares of common stock in terms of conversion notices received from convertible note holders. The shares issued were issued below par based on the market price of the stock on the date of conversion and were valued at $531,005.
Result of the April 22nd court hearing for the GS Capital lawsuit. Another bad result for Blackstar as expected. Bench trial scheduled for January 2025. Meanwhile the cash burn for legal fees continues. All you have to look to is how expensive these new notes are and all cash is borrowed. Zero revenue for this operation. Consider the legal fees for 2023 in the annual below and know that GS Capital didn't file the lawsuit until November 6th.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 56
Results of Operations
Legal and professional fees of $326,527 for the year ended December 31, 2023 increased by $199,135 from $127,392 for the year ended December 31, 2022. During 2023 the Company incurred legal fees for litigation and settlement of issues with convertible debt holders which were not incurred in prior years, in addition to recurring costs for SEC regulatory and statutory filings matters. Fees for 2022 were predominately for SEC regulatory and statutory filings, fees for annual audit and quarterly reviews and filings for a Registration Statement on Form S-1 to register underlying common shares for issuance to investors.
case number is A-23-881099-B, plug it into the court search query linked below.
https://www.clarkcountycourts.us/Portal/
I guess the Blackstar Digital Trading Platform itself isn't a component? Is that the latest slight of hand there? The system and method patents that Blackstar manages to get past the patent office appear to be so basic that they can pretty much pencil anything into the template. It didn't take long to get the "corporate governance" idea through and next is capital fund raising? "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how..." Corp Gov Feature (on the blockchain) is stated to be the first component of BDTP TM to be rolled out. Blackstar's app is trash that they aren't even allowed to even use themselves. I'm not going down the rabbit hole for product that has no viability and discuss it as if it were legitimate. You would think that Blackstar could pay for a relationship with a dealer / broker or ATS just for the the next share selling infomercial value. The underlying issue from what I see is not the relationship which should be easy rather it is that the SEC simply won't allow it.
A good narrative for selling shares I guess. We have had four infomercials since the beginning of the year. There have been 495,744,512 new shares added to the outstanding share count since the beginning of 2024. Of those 195,620,499 shares were issued at a price of only $0.00006 per share. Links showing that the BDTP has been promoted for years in post #13084.
Bubae
Re: SorcererDiviner18 post# 13082
Thursday, April 18, 2024 4:12:42 PM
Post# 13084 of 13259
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174265205
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.
Some facts with links for the BlackStar Digital Trading Platform. Try supporting your information for a change. If the information is based in fact it is easy. Those who peddle conjecture have a strained relationship with the truth. "...The BDTP™ has not been approved by any regulatory agency or broker dealer and is not currently operational..." - "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how..." B.D.T.P.TM will have three (3) revenue streams based on the following offerings, inclusive of subscriptions, licensing and installation, and annual maintenance fees:
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 3
DESCRIPTION OF BUSINESS
We are based in Boulder, Colorado and are engaged in Merchant Banking and Finance in the United States....
...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. We have recognized net losses of $1,046,983 in the year ended December 31, 2023. We have relied solely on sales of our securities, convertible note financing, and private loans to fund our operations.
Page 5
HISTORY
Definitions
BlackStar Digital Trading Platform (“BDTP™”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP™ has not been approved by any regulatory agency or broker dealer and is not currently operational.)
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
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.
More BS without links? What about the New to the Street infomercial you claim will be released Friday? People with false information must be called out on these boards. This type of hyped conjecture has been going on since this was trading above a penny. Those converting as low as $0.00006 a shares have plenty of money to spend on promotion. New interview on Friday with New to the Street. Link for the new infomercial information? Not finding anything and as usual those of you who pump rarely provide a link for anything. The latest New to The Street infomercials in the press release below. Five companies and no Blackstar. Looks like a whole new batch of fools piled in yesterday. Good job once again to those who managed to flip the the promotional BS that gets spewed out on these boards.
SorcererDiviner18
Re: None
Wednesday, April 24, 2024 9:41:26 AM
Post# 13197 of 13252
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174295201
They will be discussing the latest patent for Corporate Governance and Audit on Blockchain.
Member Level
Re: SorcererDiviner18 post# 13197
Thursday, April 25, 2024 8:55:14 AM
Post# 13240 of 13252
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174302027
That it isn't moving higher no mystery. My comment linked below in post #12266 the morning of the March 22nd infomercial with 119 million shares traded for the day. I predicted $0.0019 as the potential and that is what it closed at for the day and you can bet tens of millions of new shares were dumped. Those converting are in a sweet spot here where traders will generally hold with the promotions and they can still create some liquidity. That will eventually fail and Blackstar has a LOT of debt that matured two years ago that converts at 50% discount to market. With interest those two notes in the S-1 that matured two years ago would be more than $800K now. See those 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share issued to GS Capital lawsuit so far for 2024? That is only $11,737 at $0.00006. Those shares likely moved at a minimum average since January 1st of $0.0019 would be $371,678. THat number is likely much higher. That represents what has been, and will be, trading losses for someone. 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
Member Level
Re: None
Friday, March 22, 2024 10:02:20 AM
Post# 12266 of 13244
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174091136
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
The train is always leaving the station isn't it marc? The stock closed at $0.0113 on November 30th. You are either severely underwater on this trash or you get paid to pump it. TRAINS LEAVING THE STATION FELLAS! BEST YOU SPEND SOME TIME BUYING YOU SOME BLACKSTAR SHARES INSTEAD OF TRYING TO KNOCK DOWN A JUGGERNAUT IN THE MAKING! I'D BUY NOW BEFORE YOUR LAME @SS BASHING MAKES THE SHARE PRICE GO HIGHER!!!
Savannah-Marc
Re: None
Thursday, November 30, 2023 11:00:17 AM
Post# 4537 of 13241
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173328304&txt2find=train
For those new to this share selling enterprise understand that the latest method patent and its app for "Corporate Governance" was the subject for the 8K released March 25th. As before those pumping will promote the allowance news then again the the CEO is now pumping the actual patent release news. Looks like it worked, wonder how many conversions got dumped yesterday. Expect another count increase very soon. 🙄
The CEO had been talking about this in infomercials prior to this date and released another infomercial on April 10th with the link below. That video only generated 3.4 million in trading volume for the day. Not to say another infomercial isn't coming at some time because this CEO has a lot of very old debt to convert. There have been 495,744,512 new shares added to the outstanding share count since the beginning of 2024. Of those 195,620,499 shares were issued at a price of only $0.00006 per share.
Date of report (Date of earliest event reported): March 22, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000028/blackstar8kmarch2024.htm
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
Link for the new infomercial information? Not finding anything and as usual those of you who pump rarely provide a link for anything. The latest New to The Street infomercials in the press release below. Five companies and no Blackstar. Looks like a whole new batch of fools piled in yesterday. Good job once again to those who managed to flip the the promotional BS that gets spewed out on these boards. New interview on Friday with New to the Street.
They will be discussing the latest patent for Corporate Governance and Audit on Blockchain.
New to The Street Announces its Corporate Interviews, Episodes 459 and 460 With the TV Shows Airings to Start on Saturday, April 22, 2023, at 3:30 PM ET
https://finance.yahoo.com/news/street-announces-corporate-interviews-episodes-133000145.html
If you read the back and forth between Blackstar and GS Capital in the documents listed on the Nevada Supreme Court site it was clear to me that Blackstar is clearly out of their depth in this matter. The Supreme Court order denying the stay summarized the problem with the statement "When a contract is clear on its face, it will be construed from the written language and enforced as written." Blackstar is simply racking up more legal fees and those for the GS Capital for which they will also be paying for from what I see. They are putting of the issuance of hundreds of millions of more shares to cover the interest and damages.
As for the dumping of unregistered shares. My opinion is the same as yours and Blackstar has been issuing share all over the place. If a company can just hand out shares at will why do any company's ever register shares. I have submitted my own complaint to the SEC. It is easy to do with the link below. I write my complaint up in advance in a Word document. Use the content to fill in the fields and attach the document at the end of the form.
SEC Office of the Whistleblower
https://www.sec.gov/whistleblower/submit-a-tip
Nevada Supreme Court lawsuit docket link
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=3856EC6FBAE306463832E195DC457FC7?csIID=68335
ORDER DENYING STAY - document 24-05565
Bottom of page 2
("When a contract is clear on its
face, it will be construed from the written language and enforced as
written." (internal quote marks omitted)); and appellant has not
demonstrated a likelihood of success on the merits sufficient to tip the
balance of the NRAP 8(c) factors in favor of a stay. Accordingly, we deny
appellant's motions.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page F-11
NOTE 5 – STOCKHOLDERS’ DEFICIT (continued)
Common Stock
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:
Page F-19
NOTE 12 – SUBSEQUENT EVENTS
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
Fitting that you would post that in response to yourself. 😆 Your alias born in February and all Blackstar. Are you one of the paid promoters? Many have come and gone since this was trading above a penny and have done some good work moving those conversions. I call it the harvesting of trading losses.
I am beginning to believe that even partnering with a Dealer / Broker or ATS is also a false narrative. You would think that this CEO could cobble together some kind of agreement just for the promotional value if nothing else. He has a ton of old debt to move. I believe the statement under definitions 0n page 5 of the annual is closer to the truth. "....The BDTP TM has not been approved by any regulatory agency or broker dealer and is not currently operational." If there isn't any regulatory approval then it wouldn't matter who they tried to partner with.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 3
DESCRIPTION OF BUSINESS
We are based in Boulder, Colorado and are engaged in Merchant Banking and Finance in the United States....
...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. We have recognized net losses of $1,046,983 in the year ended December 31, 2023. We have relied solely on sales of our securities, convertible note financing, and private loans to fund our operations.
Page 5
HISTORY
Definitions
BlackStar Digital Trading Platform TM (“BDTP TM”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP TM has not been approved by any regulatory agency or broker dealer and is not currently operational.)
Blackstar is paying these rates because he has stiffed the institutional lenders. He currently has two convertible notes with principle balances outstanding of $584,079 and matured two years ago. Those notes with interest would be worth North of $800K now. The ongoing GS Capital lawsuit, the settled Quick Capital note that defaulted in April 2022 and so on. As far as talking to the SEC, for years right? Links to the press releases in post# 13005 on that subject. The CEO knows what he needs to do and yet he isn't able to get his own shares trading on their propose platform. I really don't understand why anyone would use it.
Bubae
Re: None
Monday, April 15, 2024 9:11:48 AM
Post# 13005 of 13217
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174237993&txt2find=accesswire
have to admit that I didn't watch the latest infomercial until this morning. FINALLY, this CEO talks about the need to partner with a broker dealer or ATS starting about 2:50 into the video. Why is he suddenly talking about this now? This has been the case for years and the press releases leading up to the October promotional push included this information. If it is legal to use with a broker / dealer or ATS, why is Blackstar not trading their own shares on this proposed trading platform? Finally saying this in a new infomercial is why traders didn't take the bait on April 10th. You didn't hear a peep about this in the March 22nd infomercial that generated 118 million in trading volume. 😆
I have been underestimating the amount of dilution available since this was trading above a penny. The potential is endless with the very old debt that remains. The CEO is even rewarding the new note holders with nice share conversions on just the free shares and fees alone. Blackstar must pay very high predatory rates with shares to keep this scam going. The soaking up of the liquidity on March 22nd with 119 million shares traded tells the story. People here squawked no dilution through the end of 2023 despite what was in print. no one saying that now. Fools and their money.
Bubae
Re: None
Monday, April 22, 2024 5:15:13 PM
Post# 13159 of 13207
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174285425
Blackstar has already written several new notes for 2024 for unrelated individuals totaling $139K, again with more free shares as sweeteners. They borrowed $400K in 2023 with these same terms with those free shares. According to the annual, Blackstar issued 71,250,000 shares of its common stock in 2023, valued at $266,063 in servicing this debt. Sorta, maybe looks like Blackstar is pretty hard up for financing. Where is the mafia when you need a few bucks? 😆 As bad as 71 million shares for financing $400K is, it still pales in comparison of only $200,432 in debt relief for the issuance of 845,162,311 shares in 2023. Wow.
Of course, another app written on Amazons product to promote the share sales. These infomercials are costing a small fortune in shares to move those conversions. More shares for the dumpster fire. You all better hope new money takes the bait and that it does better than the April 10th infomercial with only 3.4 million shares traded. The stay expired on February 15th so GS Capital probably still has shares to move. At this level they are making nice bank on those shares priced at $0.00006. Unbelievable.
Bubae
Re: None
Saturday, April 20, 2024 8:55:48 PM
Post# 13135 of 13197
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174276706
We have had a share count increase every months since the beginning of the year. I expect another for the start of March. Subtract the current share count from that at the end of 2023 and we have 195,620,499. That number matches the number of shares issued to GS Capital at $0.00006 per share. Looking at the statement in the 10K Blackstar "reserved out" 259,683,053 shares for convertible promissory notes as of March 29, 2024. Looking for another outstanding share increase of 64,062,554. See any mention in the January lawsuit update that the conversion price for these conversions would be $0.00006? If GS Capital settles that principle outstanding amount of $33,682 for $0.00006 a share you are looking at a total of 561,366,666 shares. So what is going on?
I know that you all do not enjoy the drama of this stock as much as I do but the documents on the Nevada Supreme Court site regarding this stock are a fun read. It really is as ridiculous as it seems that Blackstar would expose themselves to this stupid, stupid, stupid lawsuit and the expense over a principle amount of only $33,682. Especially in light of the shares they have set on fire in other matters.
Blackstar's concern about share price depreciation expressed in Page 2 of document 24-05052 helps to explain why Blackstar has entered into a $100K media consulting contract for which they are issuing shares. The irony is that while Blackstar is desperately trying to preserve price level they are also ensuring that GS Capital maximizes its return on those shares.
There are two interesting comments in document 24-03599 regarding "...Blackstar’s imminent insolvency..." The basis for this opinion is not mentioned so take it for what it is based on the context what else you read in the correspondence. These guys are pissed off it would seem. 😆
As stated in document 24-05052 the availability of shares from GS Capital would begin after February 15th expiration of the stay. Has GS Capital sold those shares in the past eight weeks or so you think? 🤔 They did very well with the March 22nd infomercial and 119 million shares traded but the April 10 infomercial fell flat generating only 3.4 million in volume for the day. Keep in mind that this is only for the principle amount that was outstanding. Will the damages be paid in shares as well? Even more reason for GS Capital to work closely with Blackstar to maintain price level.
Hey, think maybe Blackstar will think twice about not handing over shares for the two relatively larger convertible notes in the S-1 offering that are eligible to convert at 50% discount to market? Those matured two years ago.
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=3856EC6FBAE306463832E195DC457FC7?csIID=68335
Sentence at the bottom of page 8, document number 24-03599
Even if Blackstar had not previously consented to this remedy, specific performance was appropriate here, given Blackstar’s imminent insolvency and the extreme volatility of its shares.
Bottom of page 9 and page 10, document number 24-03599
On the other hand, GS Capital has suffered and will continue to suffer substantial,
irreparable harm if a stay is granted. Blackstar is currently on the brink of insolvency.
See Blackstar’s 10-Q, Exhibit “11” to Sayegh Decl. Due to its precarious financial
position, its stock price is extremely volatile. In fact, in the short time since the Order
was entered, Blackstar’s stock has fallen approximately 72%, resulting in
significant, irreparable damages to GS Capital during the district court’s stay.
Further, Blackstar’s stock price has historically been much lower than the November
2023 price surge, and the recent precipitous decline indicates a clear reversion to the
historical mean, which would represent an additional 80% drop from current levels.
A stay from this Court would only serve to compound the irreparable harm that has
already occurred as the value of Blackstar’s stock becomes more tenuous with each
day a stay is in place.
Page 2 of 24-04955
Third, Blackstar alleges that GS Capital does not ‘care’ about Blackstar’s decline
in value. Again, this is also incorrect and directly contradicted by GS Capital’s
interest in maximizing the value of Blackstar’ stock. Blackstar’s decline in stock
price would degrade the value of the Blackstar shares that GS Capital receives
through conversions
Page 2 of document 24-05052
Because GS Capital has confirmed that it fully intends to sell the disputed
shares as soon as the district court stay expires on February 15, 2023, there is good
cause for this Court to rule on the pending Motion for Stay Pending Appeal on or
before February 14, 2024.
ORDER DENYING STAY - document 24-05565
Bottom of page 2
("When a contract is clear on its
face, it will be construed from the written language and enforced as
written." (internal quote marks omitted)); and appellant has not
demonstrated a likelihood of success on the merits sufficient to tip the
balance of the NRAP 8(c) factors in favor of a stay. Accordingly, we deny
appellant's motions.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:
Hard to say why. Traders love a stock that is perpetual promotion mode. Four infomercials now since the beginning of the year. Plenty of volume up against the multi month low but zero price appreciation. Low of $0.0019 January 4th and the best it could do on the best day with infomercial number three on March 22nd was $0.0019 with 119 million shares traded. Those promoting and converting are conducting a very efficient harvesting of retail trading losses from what I see with many averaging down along with new buyers. Perfect scenario where the the run to a penny cleared out the retail profit takers allowing the conversions to control at each level down. They will mine this level as long as the liquidity holds up.
I have been talking about the converting debt since November and even I underestimated what they were capable of. We couldn't know that while pumpers here were calling for a nickel while this traded at a penny the CEO was rolling out new shares for the defaulted Quick Capital note on top of what was already in the pipeline. Why Blackstar is able to dump all these unregistered shares into the market to take advantage of price level and liquidity was Who would have guessed that he would also be rolling out new shares for partial payment on the $100K in infomercial promotions. Another $226K worth for financing fees for the recently acquired notes of $400K in 2023? Ridiculous! It is clear that even the CEO knew the promotion generated liquidity wouldn't last and rolled out what he could the way it looks.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
In 2023, we received $400,000 in non-convertible debt financing from non-related individuals, of which $325,000 is due within one year of issuance with interest at 11% per annum, and $75,000 is due from 2025 to 2026 with interest at 5.5% per annum. As consideration for entering the note agreements in 2023, the Company issued to note holders an aggregate 71,250,000 shares of its common stock, valued at $266,063....
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:
share as per antidilution provision of the warrant agreement. The warrants were exercised on a cashless or “net” basis....
They have accumulated far more new debt than they have been able to convert the past year with more than a billion new shares issued. Now consider that the two remaining notes in the S-1 offering are still intact as of the current filing with principle balances outstanding of $584,079 and matured two years ago. Those notes with interest would be worth North of $800K now. The S-1 only registered 46 million shares and appears to be of little use to settle these notes. Form D filings done at the time the notes were written but would not be enough from what I see and would represent restricted shares. What happens if either of these lenders choose to exercise their rights to convert at 50% discount to market under the terms of the notes. Does Blackstar tell these lenders to shag off like they did GS Capital and end up in another very costly lawsuit?
For the quarterly period ended March 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000051/begi-20230331.htm.htm
As of May 5, 2023, there were 683,446,845 shares of the registrant’s common stock, $0.001 par value, issued and outstanding, not including shares reserved for conversion of notes.
AMENDMENT NO. 10 TO FORM S-1
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
On January 28, 2021 BlackStar Enterprise Group, Inc. and SE Holdings, LLC entered into a convertible promissory note totaling $220,000 and a securities purchase agreement. The note bears interest at 10%, with a default rate of 24%, and is convertible, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest trading price of the Company’s common stock for the previous twenty trading days prior to the date of conversion....
...The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on February 4, 2021.
On April 29, 2021 BlackStar Enterprise Group, Inc. and Adar Alef, LLC entered into a convertible promissory note totaling $550,000 and a securities purchase agreement. The Company initially reserved out of its authorized Common Stock 86,105,000 shares of Common Stock for conversion pursuant to the note. The note bears interest at 10%, with a default rate of 24%, and is convertible at the option of the holder, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest closing bid prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion....
... The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on June 1, 2021.
My guess is that he infomercials have done their job with the disinformation coming straight from the mouth of the CEO. Worked well for the first three infomercials with as many as 119 million shares traded on March 22nd. Still couldn't crack the 2s due to the dilution soaking up the energy. Not the same story for the April 10th infomercial when only 3.4 million shares traded. In that one the CEO admitted that the trading platform was not allowed to operate. If someone had conversions at the ready then they must have decided to sit on them. The question isn't why few are selling, they represent old money. What Blackstar needs now is new money for more conversions that we know are in the pipeline. This CEO needs to buy a new suit, and conjure up a better sales pitch, and get out there for the next infomercial. 😆
The company prints, I report, you decide. 😆 Nasty stuff for sure. Hey, why does such a valuable company as you put it need to agree to more terrible terms for financing? I still like the conversions GS Capital is getting. $0.00006 a share, wow, while you have been paying retail price since a penny? At least you know who took your money and it isn't over by a long shot friend.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page F-19
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
I guess you didn't read as far as the links to the company's own print. Don't believe your lying eyes. 😚