Tuesday, May 07, 2024 10:14:24 PM
We are looking at a bit more than the 153 million shares that went restricted at the end of 2023 that will be vested by the end of June. That 153 million shares represents the 25 million issued for the media contract, 71.25 million issued financing fees for loans, and the 56.79 million issued for warrants. The first two are priced at $0.001 with the balance being recorded as paid in capital calculated from the share price listed above par. That is $25K towards the media contract and $71,250 towards the financing fees. We will see how well they do at the end of June but these are essentially free shares. They have a lot to do before the January bench trial for the GS Capital lawsuit when Blackstar could be on the hook for serious money not to mention their own legal bills being rack up. They also have the series of notes payable with maturities of less than a year starting from March 2023 to deal with.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
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.
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
NOTE 5 – STOCKHOLDERS’ DEFICIT
Common Stock
During the nine months ended September 30, 2023, the Company issued shares of its common stock as follows:
- 698,077,221 shares for conversion of $116,725 principal and interest on convertible notes payable.
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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