BlackStar Enterprise Group Inc (BEGI)

[Bubae]

The last note written by an institutional lender appears to be May of 2022 by 1800 Diagonal Lending. The four latest notes were that of Diagonal Lending which all got converted with a remaining balance of $17,800. Others have older notes have effectively gotten screwed so far. Maybe this is why they took care of Diagonal Lending with 591,386,247 of the 698 million shares issued in 2023. Just in case they need them again? Check out the 8 million shares to be issued to officers/directors/advisors to the company for $0.0004 a share.

I would like to have heard the pitch that Blackstar gave the "unrelated individuals" to enter into notes with conversion prices of $0.0067. Blackstar is giving them additional shares priced at $0.0004 to serve as sweeteners so that could be a decent paycheck relatively speaking. That is if the trading price doesn't tank back into the deep trips before those shares are eligible to convert.

Eight, nine months notes with principles totaling $300K. Think they like what they see with the lawsuit cash burn and the old notes that can't convert? Looks like $175K of the notes plus interest will have matured by May 1st. Two matured in December two more in February and the fifth due on May 1st.


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

At September 30, 2023, the Company has recorded common stock to be issued as follows:

• 33,750,000 shares, valued at $13,125, as additional consideration for loans made to the Company during the period (See Note 8).
  
  
• 8,000,000 shares, valued at $3,200, to officers/directors/advisors to the Company (See Note 9).

NOTE 8 – NOTES PAYABLE

In March 2023, the Company borrowed $25,000 from each of two individuals, repayable nine months from date of borrowing with interest at 11% per annum. At maturity, the Company will repay the face amount of each of the loans in cash, including unpaid and accrued interest at 11% and, in addition, will issue 3,750,000 shares of the Company’s common stock to each of the lenders. At maturity each of the lenders have the option to be issued, in lieu of cash payment of the outstanding debt, an additional 3,750,000 shares of the Company’s common stock in full satisfaction of the principal loan amount of $25,000 and related unpaid and accrued interest thereon.

In May 2023, the Company borrowed $50,000 and $25,000 from two unrelated individuals, repayable nine months from date of borrowings with interest at 11% per annum. At maturity, the Company will repay the face amount of the loans in cash, including unpaid and accrued interest at 11% and, in addition, will issue 7,500,000 and 3,750,000 shares of the Company’s common stock, respectively, to the lenders. At maturity the lenders have the option to be issued, in lieu of cash payment of the outstanding debt, an additional 7,500,000 and 3,750,000 shares of the Company’s common stock, respectively, as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon.

In August 2023, the Company borrowed $50,000 from an unrelated individual, repayable May 1, 2024 with interest at 11% per annum. At maturity, the Company will repay the face amount of the loan in cash, including unpaid and accrued interest at 11% and, in addition, will issue 7,500,000 shares of the Company’s common stock to the lender. At maturity the lender has the option to be issued, in lieu of cash payment of the outstanding debt, an additional 7,500,000 of the Company’s common stock as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon.

In September 2023, the Company borrowed $50,000 from an unrelated individual, repayable June 29, 2024 with interest at 11% per annum. At maturity, the Company will repay the face amount of the loan in cash, including unpaid and accrued interest at 11% and, in addition, will issue 7,500,000 shares of the Company’s common stock to the lender. At maturity the lender has the option to be issued, in lieu of cash payment of the outstanding debt, an additional 7,500,000 of the Company’s common stock as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon.

In November 2023, the Company borrowed $50,000 and $25,000 from each of two unrelated individuals, repayable nine months from date of the notes with interest at 11% per annum. At maturity, the Company will repay the face amount of the loans in cash, including unpaid and accrued interest at 11% and, in addition, will issue 7,500,000 and 3,750,000 of the Company’s common stock, respectively, to each of the lenders. At maturity the lenders have the option to be issued, in lieu of cash payment of the outstanding debts, an additional 7,500,000 and 3,750,000 shares of the Company’s common stock, respectively, as full satisfaction of the principal loan amounts and related unpaid and accrued interest thereon.