BlackStar Enterprise Group Inc (BEGI)

[Bubae]

See that filing date of December 2021 for that one? Like the corporate governance method patent they don't appear to have done any work toward developing these ideas into a working application. You don't need a patent to work on the application because it can be done with protection as patent pending. We know that they have been working on the trading platform idea but it is not allowed to operate due to rules governing the trading of securities. Blackstar at this point has nothing to point to in terms of potential revenue. Right now they are hemorrhaging cash defending this lawsuit which I believe will be their undoing. Bench trial scheduled for January 2025.

Bubae
Re: ericdude post# 13784
Sunday, May 12, 2024 8:55:38 PM
Post# 13788 of 13847
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174403108

Here is what they have been burning cash on instead of product development. Legal and professional fees for the first nine months of 2023 was $116,028 according to the chart on page 4 of the Q3 filing. The 2023 annual reveals a total of for $326,527 legal and professional fees for 2023 which means that Blackstar has burned $210,499 in Q4 alone for these services. Compare that to only $25,140 for Q3 2023. So it would appear that Blackstar is getting crushed by this stupid GS Capital lawsuit filed on November 6th over what was a principle outstanding balance of only $33,682 as of September 30th 2023. Q1 2024 has also been very busy in terms of the lawsuit with their "Motion for Stay Pending Appeal" to the Nevada Supreme Court which was denied. It will be interesting to see what the lawsuit cash burn was for Q1 was.