BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Save your powder and send GS Capital a Christmas card when the lawsuit shares start hitting the street. 😆 What do you think happens when the restraining order preventing Blackstar from trading any shares since mid November is lifted. It is not often that you see lenders bringing suits against even a stinky pink ticker over the failure to deliver shares.

You will know when the new shares are coming because they will get the infomercials rolling again. Those spots generated some volume but they dumped into so the range between 2 and 3 got swamped. You can boast about buying more shares but you have been here pumping since this was north of a penny so you are down a bundle. 🤣


FORM 8K
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm

...a temporary restraining order was entered preventing the Company from trading any shares...

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.


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

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

For the quarterly period ended September 30, 2023
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm

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.