BlackStar Enterprise Group Inc (BEGI)

[Bubae]

My posts aren't for people like yourself who peddle conjecture riddled nonsense for their flip or as a compensated pumper. I post from the filings and press releases complete with the links for those conducting actual due diligence of their own. See that low volume for Friday? The liquidity is drying up which is bad news considering more lawsuit shares could be hitting the street soon. The restraining order preventing Blackstar from trading any shares since November 9th means there is a lot of pent up selling to be done once it is lifted. Blackstar had a ton of dilution queued up for this promotion and they got shut down very early in the run. Maybe the CEO can do another paid infomercial. The first two didn't really move the needle much. 🤣

Bubae,
I didn't even feel the need to finish reading your entire comment.

FORM 8-K January 11, 2024 or
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm

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

The Company sought reconsideration and a stay of the Court’s order requiring a mandatory injunction converting the Company’s shares. The Court denied the Motion to Reconsider but stayed the order of a mandatory injunction pending appeal for 30 days as of January 11, 2024. The Order staying the case was entered on January 16, 2024 upon the Court’s verification of a $10,000 security bond posted by the Company. The stay prevents any additional conversions.

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.


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

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