BlackStar Enterprise Group Inc (BEGI)

[Bubae]

The SEC has been taking action against these toxic note holders for failure to register as deals for some time. This hasn't discouraged the obscene conversions for this stock. It would appear that these note holders have not been observing the Rule 144, 180 day holding period for unregistered shares. The SEC has been working on Rule 144 holding period amendments for some time. These amendments were to be formalized first in April 2022, then April 2024 and are now scheduled for October 2024. This rule 144 holding period amendment will codify what the SEC has been enforcing since 2022 charging toxic lenders with failing to register as dealers. I however wouldn't hold my breath because these predatory lenders have plenty of money to fund the lobbyists.

1800 Diagonal Lending got out in front of the patent acceptance news receiving 591,386,247 of the 698 million shares issued in the first nine months of 2023 priced at an average of only $0.00017 a share. 698 million shares only bought Blackstar $116,725 in debt relief. All but 104 million of the nearly 600 million came during Q2 and Q3 2023.

Adar Alef executed 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 back in November when the stock was on its way to a penny. At only $0.005 they could have banked more than $300K off that $13K conversion. Adar Alef still has $364,079 left on that note.

Looks like G.S. Capital received a partial conversion of 257,704,832 shares priced at $0.00006 a share that became available after the stay expired on February 15th. G.S. Capital likely made more than $500K on that $15,462 worth of debt relief. The company in their lawsuit counter claim states $600K made from those conversions.

SEC Publishes Fall 2023 Regulatory Agenda
Posted on December 7, 2023
https://www.knowntrends.com/2023/12/sec-publishes-fall-2023-regulatory-agenda/

Selected Proposed Rules. In this Regulatory Agenda, the SEC has moved the target date for proposing rules for Corporate Board Diversity and the Rule 144 Holding Period, from April 2024 to October 2024,...


Stock Issuers & SEC Taking the Fight to ‘Toxic’ Lenders
Agency bringing actions against convertible noteholders for failing to register as dealers
by Howard Mulligan August 15, 2023 in Financial Services
https://www.corporatecomplianceinsights.com/sec-toxic-lenders/#:~:text=Since%20early%202020%2C%20the%20SEC,required%20by%20the%20Securities%20and

Since early 2020, the SEC has been investigating purchasers of convertible notes of issuers trading on OTC Markets Group and has initiated several enforcement actions against these noteholders for violations of federal securities laws, particularly failure to register as a “dealer,” as is required by the Securities and Exchange Act of 1934, as amended.


For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm

Page 10
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.

Bubae
Re: None
Saturday, May 04, 2024 6:02:41 PM
Post# 13663 of 13884
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174358707

Another example of why you can not trust what this company posts on the detail page at the OTC markets site. I'm looking at that November conversion price of $0.0002167 and the chart to determine what twenty day period could they have locked in the three lowest closing bid prices. I find that the latest date that they could have locked in a price even close to that would have been the 16th of November. By October 27th the closing price was already $0.001 after the press release on the 24th.

Bubae
Re: Savannah-Marc post# 13457
Wednesday, May 01, 2024 12:41:56 PM
Post# 13466 of 13884
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174338327

According to document 24-03599 from the Nevada Supreme Court website GS Capital had requested 257,701,499 the first half of November and was denied which became the basis for the lawsuit. Then we get the statement in the annual that ...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. According to the text in the note the conversion price of $0.00006 would appear to be correct. Add in the 62,084,333 shares issued in December to the 195,620,499 shares for 2024 and we get 257,704,832.