BlackStar Enterprise Group Inc (BEGI)

[Bubae]

It now looks as if what is in print in the filings is suspect as well here. We do not see anything in the lawsuit updates about GS Capital receiving a conversion price of $0.00006. The January update suggests a conversion price of $0.00013. Same thing in the February 27th update. They will need 561,366,666 shares to cover the $33,682 principle amount at a conversion price of $0.00006. Getting an idea of why Blackstar is spending so much cash to defend the lawsuit? We are just talking about the principle amount here with potential legal fees, interest, etc to be ruled on. Since December 22nd, the day after the first tranche of shares was issued to GS Capital according to the January update, Blackstar has issued a total of 495,744,512 shares with 153,313,087 restricted for a balance of 342,431,425 shares. Now I read in the annual that more shares were issued? It wouldn't appear that the restraining order preventing Blackstar from trading any shares since November is still in effect? All this expense and nonsense over a $33K note balance? 🙄


Date of report (Date of earliest event reported): January 11, 2024
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm

In the Quarterly Report for the period that ended September 30, 2023, the Company reported that, subsequent to the end of the period, GS Capital Partners LLC (“Plaintiff”) filed a lawsuit against the Company in Nevada. The lawsuit relates to a claim regarding the purported unavailability of shares to convert against the 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.


Date of report (Date of earliest event reported): February 27, 2024
Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000023/blackstarmarch2024v2.htm


For the fiscal year ended December 31, 202
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm

In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See “Item 3. Legal Proceedings” for additional information related to GS Capital Partners).