Saturday, April 20, 2024 8:55:48 PM
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Holders
As of December 31, 2023, there were approximately 351 record holders of 1,544,696,448 shares of our common stock. The Company has also reserved out of its authorized Common Stock approximately 259,683,053 shares of Common Stock for conversion pursuant to the convertible promissory notes as of March 29, 2024.
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 Notes 7 and 11)
FORM 8-K
Update to November 6, 2023 Nevada Lawsuit
Date of report (Date of earliest event reported): January 11, 2024
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.
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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