BlackStar Enterprise Group Inc (BEGI)

[Bubae]

I guess you could try to marginalize the magnitude of the dilution that was prepared for this period but I'm willing to bet that the new money from retail that these guys need to attract is paying attention. 😆 You who have already bought are of no concern. Just focusing on the 698,077,221 issued for four notes with two of those being partial conversions. Those conversions more than double the outstanding share count for $116,725 of debt or an average of $0.00017 a share. GS Capital Partners received a partial conversion of nearly 60 million shares for $6000. GS Capital Partners apparently wasn't happen with that outcome because in November 2023 they filed a lawsuit for the unavailability of 700 million conversion shares. Blackstar has three attorneys defending this suit which only had a balance of $33K. Blackstar started the year with 546,495,214 shares outstanding. Want to talk about the notes maturing, the S-1 offering, the regulation "D" offering, the 300 million shares added this past week to the OS... on and on... 🤣

Yep, scared of dilution? Don't trade OTC stocks, lol....

For the quarterly period ended September 30, 2023
https://www.otcmarkets.com/filing/html?id=17069009&guid=ICJ-kWEon3T6Jth

NOTE 7 – CONVERTIBLE NOTES
During the nine months ended September 30, 2023, the Company had the following transactions related to its convertible note financings:

• 1800 Diagonal Lending LLC converted, in three tranches, the outstanding principal balance of $23,600 together with accrued and unpaid interest thereon of $2,787 due on their note of May 5, 2022 into 75,643,939 shares of the Company’s common stock at conversion prices of $0.00033 to $0.00036 per share under the conversion provision and terms of the note agreement.
  
  
• 1800 Diagonal Lending LLC converted the total outstanding principal balance of $43,750 together with accrued and unpaid interest thereon of $2,788 due on their note of August 30, 2022 into 305,250,000 shares of the Company’s common stock at conversion prices of $0.00013 to $0.00026 per share under the conversion provision and terms of the note agreement.
  
  
• 1800 Diagonal Lending LLC converted, in four tranches, $37,200 as partial conversions of the principal portion of their October 31, 2022 note into 210,492,308 shares of the Company’s common stock at conversion prices of $0.00013 to $.0002 per share under the conversion provision and terms of the note agreement.
  
  
• GS Capital Partners made a $5,933 partial conversion, in two tranches, of the principal portion of their October 11, 2021 note together with accrued and unpaid interest of $1,267 into 59,998,666 shares of the Company’s common stock at a conversion price of $0.00012 per share under the conversion provision and terms of the note agreement.
  [list/]
  
  During the nine months ended September 30, 2023, the Company issued shares of its common stock as follows:
  
  [color=red]> 698,077,221 shares for conversion of $116,725 principal and interest on convertible notes payable.[/color]
  
  
  ITEM 1A. RISK FACTORS
  The risk factor included in the periodic report for the prior quarter ended June 30, 2023, is incorporated herein by reference.
  The following additional risk factor shall be added:
  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.