BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Follow the money. While the CEO has been using the infomercials to promote the sales of the obscene debt conversions to OTC retail traders he isn’t attracting any investors. Even the toxic note holders are now taking a pass with one in a lawsuit and two others still owed $584,079 in principle earning 24% interest and have been in default since 2022. The short term notes of the past year have been from those personally known by the CEO but they aren’t buying preferred shares. They got pretty good deals on those nine month notes. 71,250,000 of those shares went restricted before December 31st "...as consideration for entering the note agreements in 2023..." and should be fully vested soon. The CEO refers to these short term notes as non-convertible debt financing yet issues the free shares and there is a conversion option. The CEO referred to employees as potential note holders in the annual but they annual also stated that the company has no employees. The value for the shares to the lenders is $0.001 with the balance being recorded on the balance sheet as paid in capital calculated from the share price listed above par.


Bubae
Re: None
Monday, June 03, 2024 8:54:12 PM
Post# 13961 of 13990
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174537254

Blackstar has been reduced to actively promoting to move the conversions priced as low as $0.00006 a share. It would seem that real investors conduct actual due diligence which is why Blackstar has been unable to attract anything other than penny flipping gamblers for their stock.

Bubae
Re: Short Squeeze post# 13957
Monday, June 03, 2024 1:11:47 PM
Post# 13958 of 13990
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174534517&txt2find=tokens

It is clear where stock trading on a blockchain is going. All one needs to do see who is attracting capital in this space and it isn't Blackstar. The DTCC acquisition of Securrency is reported to be a $50 million deal. Blackstar is being sued by GS Capital Partners over the failure to deliver shares for partial conversions for a principle balance of only $33,682. Now the legal fees are consuming the cash raised from the new expensive short term notes. Blackstar struggles with toxic notes that are in default and matured two years ago and their method patents are not attracting any real investors. Just opportunists who have been profiting at an obscene level taken from retail buying into this story.

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

NUMBER OF PERSONS EMPLOYED
As of December 31, 2023, we have no full-time employees and 2 independent consultants who act as our officers and directors on a part-time basis of up to 40 hours per week.

Page 53
Exemption from Registration Claimed

Sales and issuances by us of the unregistered securities listed above were made by us in reliance upon Rule 506 of Regulation D to the individuals listed above. All of the individuals and/or entities listed above that purchased the unregistered securities were all known to us and our management, through pre-existing business relationships, as long-standing business associates, friends, and employees.


Page 55
The Company’s success will be dependent upon its ability to analyze and manage the opportunities presented and is contingent upon successfully raising funds and ultimately SEC approval of our digital trading platform.

In 2023, we received $400,000 in non-convertible debt financing from non-related individuals, of which $325,000 is due within one year of issuance with interest at 11% per annum, and $75,000 is due from 2025 to 2026 with interest at 5.5% per annum. As consideration for entering the note agreements in 2023, the Company issued to note holders an aggregate 71,250,000 shares of its common stock, valued at $266,063.