Tuesday, April 23, 2024 9:07:49 AM
I have been talking about the converting debt since November and even I underestimated what they were capable of. We couldn't know that while pumpers here were calling for a nickel while this traded at a penny the CEO was rolling out new shares for the defaulted Quick Capital note on top of what was already in the pipeline. Why Blackstar is able to dump all these unregistered shares into the market to take advantage of price level and liquidity was Who would have guessed that he would also be rolling out new shares for partial payment on the $100K in infomercial promotions. Another $226K worth for financing fees for the recently acquired notes of $400K in 2023? Ridiculous! It is clear that even the CEO knew the promotion generated liquidity wouldn't last and rolled out what he could the way it looks.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
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....
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. The warrants were exercised on a cashless or “net” basis....
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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