BlackStar Enterprise Group Inc (BEGI)

[Bubae]

To believe a settlement is good new for shareholders is laughable. A good settlement for Blackstar is that they hand over something like 500 million shares rather than the original 700 million in the lawsuit. Bench trial is scheduled for January 2025 for interest, legal fees and costs. There were default penalties in the note including a $500 a day charge for the failure to deliver requested shares. Blackstar may request that the restraining order be lifted on the 22nd now that the shares ordered by the preliminary injunction have been issued. 427,319,679 new shares added, of that 153,313,087 restricted, since the December 22nd OS update. They may soon get back to selling the shares that were queued up before the restraining order in November.


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

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.


Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?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.

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

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