Sunday, April 28, 2024 7:59:41 AM
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=DD86B554D3E6998D3A6E9EB41AA71067?csIID=68335
Document 24-03599
...Because of a dramatic increase in Blackstar’s stock price, the “conversion option” here became “in the money” and profitable. Naturally, GS Capital sought to exercise its conversion rights to receive shares of Blackstar stock—the benefit of its bargain. Blackstar refused. Then, after several weeks—during which GS Capital would have received about 257 million shares through conversions—Blackstar attempted to pay off the Note and thereby argue that, retroactively, GS Capital’s conversion rights are thereby extinguished. GS Capital argued this absurd result would be similar to a stock option seller unilaterally returning the option’s purchase price in an effort to rescind the option purchase because the option was now “in the money” and costly to the seller. The lower court correctly agreed with GS Capital and required Blackstar to reserve the contractually-mandated shares.
Second, Blackstar shockingly omits that it contractually agreed that GS Capital is entitled to injunctive relief and specific performance in the event of a breach, on which the Order correctly relied. Blackstar also omits that the Note, as amended— 123678829.13 under which GS Capital sued—provided for exclusive Nevada jurisdiction.
The low float scenario has already played out with the run to a penny on heavy social media promotion in November while the 698 million shares issued at an average price of only $0.00017 was being rolled out.
Bubae
Re: gshores post# 7706
Wednesday, December 20, 2023 4:27:59 PM
Post# 7731 of 13345
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173472167
Must remember that these people control a large percentage of the float right now and will be rolling those hundreds of millions of shares out over the next few months. That 698 million shares converted from Q1 through Q3 more than doubled the share count.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
NOTE 12 – SUBSEQUENT EVENTS
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)
Truly a dumb question when they are receiving their shares at such a discount to market.
Greater fool theory
https://en.wikipedia.org/wiki/Greater_fool_theory
First I am compensated by anyone in any fashion. Place blame where it has been earned. It wasn't I who entered into such toxic note agreements and it wasn't I who is personally promoting in the infomercials to maximize the return for these lenders.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 57
Liquidity and Capital Resources
.... the Company issued, as partial consideration, 25,000,000 shares of its common stock (valued at $100,000) to a media consulting firm for investor relations services under a six-month agreement through May 2024.
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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