BlackStar Enterprise Group Inc (BEGI)

[Bubae]

The patent narrative that has been perpetuated on social media for weeks now is full of misinformation. The patent is a system and method patent that details the functionality of the Digital Trading Platform ("BDTP"). They have been talking about this trading platform for years. The links to the press releases reveals commonality between the press releases for the past three years from September 2020 to September 2023.

The issue around this patented method has to do with regulations governing securities. We start with the SEC saying July 2020, per the press release, that BlackStars best bet would be to ' to apply for Alternative Trading System ("ATS") status'. In that same September 2020 press release the company states 'we are evaluating our options for finalizing the BDTP, including exploring partnerships with existing ATS's.'. Now step through three years of press releases around this subject to September 2023 with the statement 'At this time, no ATS has committed to an arrangement.'
SEC Alternative Trading System (ATS)

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

...However, there can be no assurance that such regulatory approvals will be obtained [color=red]in a timely manner or at all.

The BDTP™ is not yet functional and may never be functional.

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's Digital Trading Platform Nearing Completion
Monday, 22 March 2021 09:25
https://www.accesswire.com/636765/resources

The proprietary software completion of the BlackStar Digital Trading Platform ("BDTP") is estimated in the 2nd Quarter of 2021. The Company is positioning itself to enable trading of BEGI common shares digitally using Amazon's Blockchain, all while complying with the rules and regulations within the existing Broker Dealer ecosystem. BlackStar will continue to seek further input from various regulatory agencies and others on the potential functionality and regulatory aspects of the BDTP over the next several months.

The Company is encouraged that the Peer-to-Peer ("P2P") BDTP is likely to be completed within the next 90 days.

Last year, BlackStar completed a working demonstration of BDTP on Amazon Blockchain that simulated cash shareholder trading activity.


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

BlackStar looks forward to the next steps of seeking a relationship with an alternative trading system and/or broker dealer and seeking any further regulatory approvals for trading its shares on a blockchain platform.

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 anticipate initiating formal discussions with the SEC and its relevant divisions and offices, including the Division of Trading and Markets, within the next six months with respect to seeking the approval or clearance of our shares being eligible to be traded on our BDTP™ platform.

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.