BlackStar Enterprise Group Inc (BEGI)

[Bubae]

This company is entertaining to watch. We have toxic conversions executing with the widest spreads of any I have ever seen. 698 million shares converted at an average of $0.00017, GS Capital's 257,701,499 shares in the preliminary injunction priced at $0.00012, Quick Capital with the best conversion language of all in the defaulted note, two notes totaling $597,534 as of the Q3 filing in the S-1 offering, and so on.

So here is the best part, Blackstar claims to be in the Merchant Banking business and the CEO's biographical information suggests that he does know something about financing. Not only is Blackstar not making any money in the finance business but the CEO is the pitchman for these toxic conversions in the infomercials. Until he can clear this very old debt the CEO's Class A Preferred Shares won't be worth much. He has controlling interest so once he blows out this share structure he can vote the split for another go because it won't affect his ownership. This company reminds me of Jason Remillard and Data433 $(ATDS) except even Jason didn't set shares on fire as bad as this.




S-1 Offering Prospectus
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm

Company Overview

We are based in Boulder, Colorado and are engaged in Merchant Banking and Finance in the United States. BlackStar’s venue is private early-stage companies throughout various industries that, in our judgement, exhibit a potential for sustained growth. We are a publicly traded specialized merchant banking firm, facilitating joint venture capital to early-stage revenue companies. We are actively seeking opportunity for discussion with revenue generating enterprises and emerging companies for financing.

BIOGRAPHICAL INFORMATION

Joseph E. Kurczodyna, Chief Executive Officer, Chief Financial Officer and Director
...Mr. Kurczodyna purchased Mills Financial and was the firm’s President and General Principle. While leading Mills Financial, he underwrote and funded several private placements and IPO’s. In 1998, Mills was the lead underwriter for United Financial Mortgage Corp. (UFMC), which was eventually listed on the American Stock Exchange. From 2004 to 2009,...

December 18, 2020, Mr. Kurczodyna became the controlling shareholder of IHG through the issuance of preferred super majority voting shares in IHG.

There were 790 ,292,999 shares of common stock outstanding, 321,200 warrants issued for common stock, and 1,000,000 Class A Preferred Shares outstanding (owned by International Hedge Group, Inc.) as of June 14 , 2023.