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Wednesday, May 01, 2024 9:05:26 AM
Same for the 71,250,000 shares for financing fees for the new 2023 notes. The holders of those shares are again priced at $0.001 which had a real value of $71,250 with the remaining entered on the balance sheet as "additional paid in capital". That is still a really good return on $425K in notes written in 2023 considering that three of those notes totaling $200K were written in November.
The additional valuation of "additional paid in capital" appears to be the result of the stated price at the time of issuance of the shares valued at $0.004 and the spread above par which is $0.001. It will be interesting to see how much they will be able to sell those unregistered shares for after the 180 day holding period. One thing is for certain, GS Capital will make a killing on their shares priced at $0.00006 if this price level holds up. 😆 Do you think the CEO will be paying for more infomercials while GS Capital is selling those shares beginning at the end of June?
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
NOTE 5 – STOCKHOLDERS’ DEFICIT (continued)
Common Stock
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...
Page F-19
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)
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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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