BlackStar Enterprise Group Inc (BEGI)

[Bubae]

This is a hoot. The 8K reveals that a preliminary injunction was put in place that prevents the company from trading any shares. I went to the court record and found that this emergency preliminary injunction was granted back on November 9th 2023. Now take that and plug it into the timeline when I would have expected the balance of the 698 shares priced at an average of $0.00017 a share would become eligible. Get the picture? What happens when the company is free to sell those new shares again and who is additionally going to be seeking damages as the price declines? " the Company could be exposed to further risks of lawsuits for similar issues..." I guess this is why they are spending so much money defending this relatively small note all the way up to the Nevada Supreme Court who would surely send them packing. 🤣

FORM 8-K
https://www.sec.gov/ix?doc=/Archives/edgar/data/1483646/000106594924000003/blackstar8kjan232024.htm

At the outset of the case, a temporary restraining order was entered preventing the Company from trading any shares.

The Company appealed the Motion for Preliminary Injunction and Specific Performance to the Nevada Supreme Court on January 12, 2024...

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.

Bubae
Re: None
Saturday, December 23, 2023 10:12:19 AM
Post# 7962 of 8523
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173492266

When we add those three groups up we find that 454,279,436 shares will become eligible on a rolling basis in tranches per the issuance schedule. We know that the outstanding share count hasn't changed since October 1st according to other posts on this board. So take the June 14th date and the October 1st date and we see that the rollout period for those shares was 14 weeks. So we are looking at 698,077,221 shares issues from Q1 through Q3 with an average conversion price of $0.00017. with 454,279,436 becoming eligible through Q1 2024.

case number is A-23-881099-B, plug it into the court search query

https://www.clarkcountycourts.us/Portal/