BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Institutional lenders are done with Blackstar from what I see. The SEC busted "...the managing member of SE Holdings, LLC, individually, and Adar Alef, LLC..." for unregistered dealer activity. Blackstar handed over the 62 million shares @ $0.0002167a share to Adar Alef in November 2023 while the stock was on its way to a penny. This while they denied GS Capitals conversion requests that were made on November 2nd which triggered the costly lawsuit. That was dumpage of unregistered shares and they would have made small fortune on those cheap conversions.

Now those two SE Holdings and Adar Alef notes with a balance of $584,079 are no longer convertible. These lenders are pretty much screwed because Blackstar really has nothing tangible worth going after in court other than super cheap shares like GS Capital received. If by some miracle Joe begins to generate any revenue from his ideas they cash will go to debt holders, legal fees, and legal settlements from what I see. 😆


For the quarterly period ended June 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000098/begi-20240630.htm

Page 12

NOTE 7 – CONVERTIBLE NOTES (continued)

On January 23, 2024, the managing member of SE Holdings, LLC, individually, and Adar Alef, LLC, also managed by the same individual, as the entity, settled charges with the SEC ordering them, in part, to surrender for cancellation all remaining shares of the Company they obtained through conversion of notes, as well as conversion rights under any remaining convertible notes. The Company is evaluating what this means for the remaining outstanding conversion rights under the two convertible promissory notes held by SE Holdings, LLC ($220,000) and Adar Alef, LLC (original face amount of $550,000), and for the current holdings of Adar Alef, LLC (5,000,000 shares of common stock of BlackStar). The Company is of the opinion that the notes are no longer convertible and are classified as ordinary debt.


Aryeh Goldstein, Adar Bays, LLC, and Adar Alef, LLC
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25930 / January 23, 2024
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25930

The parties have agreed to settle the charges. Among other relief, Goldstein and his entities agreed to pay $1.25 million in monetary relief and to surrender or cancel all remaining shares of public companies allegedly obtained from their unregistered dealer activity.

Bubae
Re: None
Saturday, May 04, 2024 6:02:41 PM
Post# 13663 of 14272
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174358707&txt2find=November%2BAdar

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. December 16 would have been pretty close to have been included in the subsequent events section of the Q3 filing since the 16th would have been on a Thursday and the Q3 was filed the following Monday the 20th.

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.

Bubae
Re: None
Sunday, July 28, 2024 8:00:11 AM
Post# 14188 of 14272
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174823523&txt2find=friends%2Bassociates
[color=red]Blackstar isn't attracting ay real investors which speaks to the lack of potential for what they have been trying to do for years.. Blackstar has been reduced to borrowing from what the company describes as "...long-standing business associates, friends, and employees...." in their filings. To pay these people back he CEO will need to con OTC retail into buying that paper. On the other hand the DTCC has invested $50 million in an acquisition of the tokenization solution company Securrency for trading all real world assets on a blockchain.[/color]