BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Blackstar doesn't have much in terms of assets to go after. All those lenders can do is hope for an opportunity to convert that debt. Diagonal lending for some reason beat everyone to the conversion game with their nearly 600 million shares in 2023 to take advantage of the current promotional period. What they knew and when did they know it, right? Then GS Capitals lawsuit and the partial conversions 257,704,832 million shares priced at $0.00006 for 2024. SE Holdings and Adar Alef needed to wait their turn in my opinion. Besides, Adar Alef banked an obscene profit with their conversion of $13,455 principal into 62,100,00 shares back in November while the stock was on its way to a penny.

As for the SEC question. New 8K out this morning show that they have been dealing with a shady auditor. According to the 8K their auditor, Borgers, ....agreed to a permanent ban on appearing or practicing before the SEC...

FORM 8K
Date of report (Date of earliest event reported): May 3, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000058/blackstarauditor8k.htm

The U.S. Securities and Exchange Commission (the “SEC”) has advised that, in lieu of obtaining a letter from BF Borgers stating whether or not it agrees with the statements herein, the Company may indicate that BF Borgers is not currently permitted to appear or practice before the SEC for reasons described in the SEC’s Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order, dated May 3, 2024.


For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm

Page F-13
ADAR ALEF, LLC

In November 2023, Adar Alef issued a notice of conversion for a partial conversion of $13,455 principal into 62,100,00 shares of the Company’s common stock at a price of $0.0002167 per share under the conversion provision and terms of the note agreement.