BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Blackstar has already written several new notes for 2024 for unrelated individuals totaling $139K, again with more free shares as sweeteners. They borrowed $400K in 2023 with these same terms with those free shares. According to the annual, Blackstar issued 71,250,000 shares of its common stock in 2023, valued at $266,063 in servicing this debt. Sorta, maybe looks like Blackstar is pretty hard up for financing. Where is the mafia when you need a few bucks? 😆 As bad as 71 million shares for financing $400K is, it still pales in comparison of only $200,432 in debt relief for the issuance of 845,162,311 shares in 2023. Wow.


For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm

In 2023, we received loans of an aggregate $400,000 from four investors, due nine months from receipt with interest at 11% per annum. Based on our current cash reserves of approximately $33,550 as of December 31, 2023, and our receipt in 2024 of $139,000 in short term loans from three investors, we estimate that we will have cash for an operational budget of approximately four (4) months.

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In 2023, we received $400,000 in non-convertible debt financing from non-related individuals, of which $325,000 is due within one year of issuance with interest at 11% per annum, and $75,000 is due from 2025 to 2026 with interest at 5.5% per annum. As consideration for entering the note agreements in 2023, the Company issued to note holders an aggregate 71,250,000 shares of its common stock, valued at $266,063....

NOTE 5 – STOCKHOLDERS’ DEFICIT (continued)
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:

• 845,162,311 shares for conversion of $200,432 principal and interest on convertible note payable.
  
• 71,250,000 shares valued at $266,063 as consideration for financing fees for loans made to the Company.
  
• 25,000,000 shares valued at $100,000 ($0.004 per share) as partial consideration for a media consulting contract.
  
• 56,788,923 shares for exercise of previously issued warrants at $0.0128 per share. The exercise price was revised to $0.00062 per share from $0.25 per
  share as per antidilution provision of the warrant agreement...