Wednesday, May 01, 2024 6:11:13 PM
Blackstar has issued 495,744,512 shares since the December 22nd 2023 outstanding share count update. We know from the Q3 2023 filing that the outstanding share count as of September 30th was 1,244,572,435, the same as that of the December 22nd update. The current float number and date on the OTC which was first done on March 28th is listed as 1,606,723,782 shares as of October 31st 2023. So we know that the number listed for the float is false and does not represent the number of shares currently in the market.
That nearly 500 million shares should be going through the 180 day holding period for unregistered securities and be ready by the end of June. If for some reason these shares are being dumped when issued you all should pay attention to the two remaining notes in the S-1 offering that are still intact as of the current filing with principle balances outstanding of $584,079 and matured two years ago. Those notes with interest would be worth North of $800K now.
Those notes can convert at 50% discount to market calculated from the average of the three lowest closing bid prices for the previous 20 days. The three lowest closing prices going back to April 18th is $0.0014 for an average closing bid price of $0.0013 or a calculated 50% discount conversion price of $0.00065. With the 4.99% equity blocker at the current outstanding shares count they could convert as many as 86,841,815 shares per tranche. That is potentially two lenders doing this.
Now, those unregistered shares should be subject to the 180 day holding period. But if for some reason not, this nice runup could be an attractive point to trigger those conversions. They could have that conversion price of $0.00065 for the next ten trading days. So if this runup is being orchestrated, it may be for a reason. With the 86.8 million share tranche at todays closing of $0.0026 they could convert $56,447 of debt and bank a profit of $169K. Not a bad return. He77, take that down to an average of $0.0019 a share and they bank 108K in profit. Still a nice return. 😆
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
AMENDMENT NO. 10 TO FORM S-1
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
On January 28, 2021 BlackStar Enterprise Group, Inc. and SE Holdings, LLC entered into a convertible promissory note totaling $220,000 and a securities purchase agreement. The note bears interest at 10%, with a default rate of 24%, and is convertible, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest trading price of the Company’s common stock for the previous twenty trading days prior to the date of conversion....
...The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on February 4, 2021.
On April 29, 2021 BlackStar Enterprise Group, Inc. and Adar Alef, LLC entered into a convertible promissory note totaling $550,000 and a securities purchase agreement. The Company initially reserved out of its authorized Common Stock 86,105,000 shares of Common Stock for conversion pursuant to the note. The note bears interest at 10%, with a default rate of 24%, and is convertible at the option of the holder, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest closing bid prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion....
... The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on June 1, 2021.
That nearly 500 million shares should be going through the 180 day holding period for unregistered securities and be ready by the end of June. If for some reason these shares are being dumped when issued you all should pay attention to the two remaining notes in the S-1 offering that are still intact as of the current filing with principle balances outstanding of $584,079 and matured two years ago. Those notes with interest would be worth North of $800K now.
Those notes can convert at 50% discount to market calculated from the average of the three lowest closing bid prices for the previous 20 days. The three lowest closing prices going back to April 18th is $0.0014 for an average closing bid price of $0.0013 or a calculated 50% discount conversion price of $0.00065. With the 4.99% equity blocker at the current outstanding shares count they could convert as many as 86,841,815 shares per tranche. That is potentially two lenders doing this.
Now, those unregistered shares should be subject to the 180 day holding period. But if for some reason not, this nice runup could be an attractive point to trigger those conversions. They could have that conversion price of $0.00065 for the next ten trading days. So if this runup is being orchestrated, it may be for a reason. With the 86.8 million share tranche at todays closing of $0.0026 they could convert $56,447 of debt and bank a profit of $169K. Not a bad return. He77, take that down to an average of $0.0019 a share and they bank 108K in profit. Still a nice return. 😆
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
AMENDMENT NO. 10 TO FORM S-1
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm
On January 28, 2021 BlackStar Enterprise Group, Inc. and SE Holdings, LLC entered into a convertible promissory note totaling $220,000 and a securities purchase agreement. The note bears interest at 10%, with a default rate of 24%, and is convertible, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest trading price of the Company’s common stock for the previous twenty trading days prior to the date of conversion....
...The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on February 4, 2021.
On April 29, 2021 BlackStar Enterprise Group, Inc. and Adar Alef, LLC entered into a convertible promissory note totaling $550,000 and a securities purchase agreement. The Company initially reserved out of its authorized Common Stock 86,105,000 shares of Common Stock for conversion pursuant to the note. The note bears interest at 10%, with a default rate of 24%, and is convertible at the option of the holder, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest closing bid prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion....
... The Company and the holder executed the securities purchase agreement in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The company filed a Form D with the Securities and Exchange Commission on June 1, 2021.
Bearish
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
