BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Actually what is comical is the share conversion dumpster fire that they are feeding right now. Talk about ridiculous private placement. They more than doubled the outstanding share count in 2023 for an average conversion price of $0.00017. They held back the 700 million shares from GS Capital Partners who got a partial conversion priced at $0.00012 share. Blackstar will likely be coughing up those shares soon with a judgement from the lawsuit. Take a look at the conversion language in that defaulted Quick Capital note. "conversion price is the lowest trading price during the delinquency period with a 50% discount." The lowest trading price has been $0.0001 just days before this runup which could equate to more than 2.5 billion shares. Can't make this up. 😆 If I were Quick Capital I would just go ahead and let the total continue to accrue at the default interest of 24% then cash in after a split because this company is already well on their way to blow out even an increase in the authorized share count. You all are simply throwing your money down this hole from what I see.

Nothing has changed here other than the issuance of a method patent that simply gives them the privilege to spend money defending their trading platform idea which at the moment has zero path to monetization due to regulatory rules governing the trading of securities. A method patent for such an obscure market that there will likely be no one even interested in it. I can only assume since the CEO hasn't touched the subject of efficacy in his rambling infomercial that it is business as usual like it has been for years. That is zero business and zero revenue. How often do you seen even a bankrupt pink ticker convert at that level? The company is broke and these predatory lenders are banking millions off of what will be huge retail losses when this useless product get valued back to where it was just days before this heavily promoted run up. PUMP and DUMP!!! It doesn't matter what you al who have been duped do at this point. The infomercials are intended to get you all to hold so they can sell into new money. It is new money that they must have, and in volume. Now where is that next infomercial. 😆🤣



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


During the nine months ended September 30, 2023, the Company issued shares of its common stock as follows:

• 698,077,221 shares for conversion of $116,725 principal and interest on convertible notes payable.
  
  NOTE 7 – CONVERTIBLE NOTES
  
  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.
  
  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.
  
  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.