BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Anyone who engages in actual due diligence sharing is a basher to those who are holding the bag here. Who do you think is paying for these infomercials? Who paid for the social media promotion on these boards including Reddit. The Reddit folks made their money and are gone. Those who pumped this everywhere then are gone. I posted about the dilution just before this hit the 52 week high and was slammed at the time.

These toxic lenders who dumped 698,077,221 shares at an average conversion price of only $0.00017 a share made a small fortune. So they had plenty of money to throw around and the irony is that the funds to con traders came straight out of the bank accounts of those same fools who took the bait. What is even more deranged is that the CEO is now pitchman for these conversions in the infomercials. GS Capital locked in conversions at $0.00012 with their original share request dated November 2nd. Those shares were ordered to be issued for the principle balance in the preliminary injunction. More to come on the lawsuit.

Looks Blackstar will be sitting on the annual for a while longer and no doubt this last infomercial was a fail. Once the annual is released we will see how much of the debt the debt that was queued up for this promotional period was sold before GS Capital got the restraining order in place. This company is covered up in bad debt which must be paid for by those gambling on this stock. Good luck.


For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
During the nine months ended September 30, 2023, the Company issued shares of its common stock as follows:

• 698,077,221 shares for conversion of $116,725 principal and interest on convertible notes payable.
  
  NOTE 7 – CONVERTIBLE NOTES
  
  During the nine months ended September 30, 2023, the Company had the following transactions related to its convertible note financings:
  
  
• 1800 Diagonal Lending LLC converted, in three tranches, the outstanding principal balance of $23,600 together with accrued and unpaid interest thereon of $2,787 due on their note of May 5, 2022 into 75,643,939 shares of the Company’s common stock at conversion prices of $0.00033 to $0.00036 per share under the conversion provision and terms of the note agreement.
  
• 1800 Diagonal Lending LLC converted the total outstanding principal balance of $43,750 together with accrued and unpaid interest thereon of $2,788 due on their note of August 30, 2022 into 305,250,000 shares of the Company’s common stock at conversion prices of $0.00013 to $0.00026 per share under the conversion provision and terms of the note agreement.
  
• 1800 Diagonal Lending LLC converted, in four tranches, $37,200 as partial conversions of the principal portion of their October 31, 2022 note into 210,492,308 shares of the Company’s common stock at conversion prices of $0.00013 to $.0002 per share under the conversion provision and terms of the note agreement.
  
• GS Capital Partners made a $5,933 partial conversion, in two tranches, of the principal portion of their October 11, 2021 note together with accrued and unpaid interest of $1,267 into 59,998,666 shares of the Company’s common stock at a conversion price of $0.00012 per share under the conversion provision and terms of the note agreement.
  
  
  Update to November 6, 2023 Nevada Lawsuit
  https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm
  
  ...remaining principal and interest on a Promissory Note entered into on October 11, 2021, which had a remaining principal balance of $33,682. At the outset of the case, a temporary restraining order was entered preventing the Company from trading any shares. As currently postured, Plaintiff seeks specific performance (a mandatory injunction) requiring the conversion of approximately 257,000,000 shares and possibly additional recovery of legal fees and interest. The lawsuit increases the Company’s financial and administrative burdens and is a risk to the Company’s capital.
  
  Meanwhile, the preliminary injunction ordered the Company to honor the conversion requests of November 2, 2023 (for the conversion of 62,084,333 shares of common stock – completed December 21, 2023) and the three subsequent requests GS Capital claimed it “would have” made (62,023,333 shares, 65,168,333 shares, and 68,425,500 shares). In order to comply with the mandatory injunction, prior to the stay, the Company increased the share reserve for GS Capital Partners LLC and they subsequently completed the first two conversions.