BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Pumpers and longs lose their minds when we use the words of the company to pull back the curtain. If this company had anything substantive going on it would be the other way around and promoters would embrace the words of the CEO and the facts in the company's print. The con in my opinion begins with the October 24th press release with the CEO proclaiming that the "...registered patent that will give BlackStar a 20-year monopoly on digital equity trading of securities on a blockchain." Those promoting this on social media went wild and used it and other misinformation to run this over a penny in fairly short order.

There is only one problem, Blackstar isn't able to do what they claim to have a method patent for in the press release. Not even with their own shares. So how do you have a monopoly on market that doesn't exist. Press release for September 2020 states that Blackstar "...received the recommendation to apply for Alternative Trading System ("ATS") status." from the SEC. Flash forward to March 2023 press release "...The BDTP™ is not yet functional and may never be functional." September 2023 the month before the monopoly proclamation "...At this time, no ATS has committed to an arrangement." Statement from teh S-1 filing which is also found in the Q3 2023 filing "...The completion of our software platform depends on our ability to license it to an existing Alternative Trading System (“ATS”)..." The last three press releases and two infomercials doesn't even mention the Alternative Trading System (“ATS”) issue preventing Blackstar for using the trading platform which is the method patent.

Statement that the method patent represents a 20 year monopoly yet the method patent appears to be pretty weak even if there was ever to be a market for it. Statement from the S-1 offering prospectus "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how..." "...Third parties may assert intellectual property claims relating to their source code, including Distributed Ledger Technology..."


BlackStar's Digital Trading Platform Concept Receives SEC Guidance in Q3 2020
Wednesday, 16 September 2020 02:00
https://www.accesswire.com/606207/BlackStars-Digital-Trading-Platform-Concept-Receives-SEC-Guidance-in-Q3-2020
We hope that BDTP will be operational, subject to obtaining funding, by 1st Quarter of 2021.

In July 2020, the Company presented the concept to SEC FinHub staff members for regulatory guidance and received the recommendation to apply for Alternative Trading System ("ATS") status. Given that guidance, we are evaluating our options for finalizing the BDTP, including exploring partnerships with existing ATS's. BlackStar will continue to seek further input from various regulatory agencies and OTC Markets on the potential functionality and regulatory aspects of the BDTP over the next several months.


BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023 10:30
https://www.accesswire.com/743761/blackstar-enterprise-group-inc-provides-registration-statement-update
We believe the Company is on the path to bringing its proposed business plan to reality. However, there can be no assurance that such regulatory approvals will be obtained in a timely manner or at all.

We believe it may take an additional six to nine months to address SEC comments and questions, and there is no assurance that we will be successful in our shares being approved or cleared for trading on our BDTP™ platform. The BDTP™ is not yet functional and may never be functional.



Blockchain First Infrastructure Designed to Enable Public Company Common Shares to Trade as Digital Securities
Monday, 11 September 2023 09:29
https://www.accesswire.com/782422/blockchain-first-infrastructure-designed-to-enable-public-company-common-shares-to-trade-as-digital-securities
We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.

We currently intend to seek a contractual arrangement such as a license with an existing ATS for a quoting service, similar to the current listing of our common stock with OTC Markets Group. At this time, no ATS has committed to an arrangement.


Q3 2023
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Overview
The completion of our software platform depends on our ability to license it to an existing Alternative Trading System (“ATS”) or for us to possibly register as an ATS, which we do not intend to do at this time as we would prefer to license our platform to an existing ATS. The platform is not currently operational or in use by anyone. More details regarding the BDTP TM can be found in the most recent registration statement on Form S-1, as amended.


AMENDMENT NO. 10 TO FORM S-1
As filed with the U.S. Securities and Exchange Commission on June 16 , 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
RISK FACTORS RELATED TO OUR PLATFORM AND BLOCKCHAIN/DISTRIBUTED LEDGER TECHNOLOGY

IF WE ARE UNABLE TO PROTECT THE CONFIDENTIALITY OF OUR TRADE SECRETS, OUR BUSINESS AND COMPETITIVE POSITION COULD BE HARMED.
Significant elements of our intended products and services are based on unpatented trade secrets and know-how that are not publicly disclosed. In addition to contractual measures, we try to protect the confidential nature of our proprietary information using physical and technological security measures.

INTELLECTUAL PROPERTY RIGHTS CLAIMS MAY ADVERSELY AFFECT THE DISTRIBUTE LEDGER TECHNOLOGY.
Third parties may assert intellectual property claims relating to their source code, including Distributed Ledger Technology. Regardless of the merit of any intellectual property or other legal action, any threatened action that reduces confidence in distributed ledger technology’s long-term viability may adversely affect an investment in us.

Overview of the BDTP™ Platform
Blackstar has built the technology based upon the Quantum Ledger Database, a blockchain framework from Amazon Web Services (“AWS”), and to use the AWS Cloud for transaction data storage. The BDTP™ would offer a web-based interface for trading transactions as well as an Application Programming Interface (API) that directly accesses all transactions stored on the BDTP™. In June 2020, BlackStar and Artuova, a custom software development company, successfully completed a production ready user interface for the BDTP™ platform, which is feature-complete.