Replies to post #4728 on BlackStar Enterprise Group Inc (BEGI)

[AKATITUS]

Seen them on many boards.

[Bubae]

"hard to accomplish" The time frame is years if "at all". I never called the company a fraud. I'm sure that they are taking your money in accordance with the rules though I believe the promotional aspects of the past month or so are suspect. They did put into print that the current regulatory environment renders the trading platform and the underlying patent useless. The information is buried deep in the S-1 offering filing, but it is there. The company actually doesn't say much in its communications otherwise about its business, the promotional work is left to those on the social media platforms. This has been very effective.

My favorite part of the regulatory issue notice is the statement "BlackStar’s aim is to develop BDTPTM, a digital share trading platform, to trade free-trading BlackStar common stock only. This sentence isn't a mistake, is this really how they planned to monetize the trading platform idea? By trading their own stock only?

"He's now down to "if it's hard to accomplish it means the company is a fraud". You can't make this stuff up.

S-1 Offering
https://www.otcmarkets.com/filing/html?id=16735041&guid=p7J-kFOezEj4B3h

Regulatory Challenges of our Business Concept (BDTPTM)

BlackStar has always recognized that digital equities must be registered or otherwise have an exemption from registration within the existing SEC regulations and guidelines. BlackStar’s aim is to develop BDTPTM, a digital share trading platform, to trade free-trading BlackStar common stock only. The regulatory challenges presented come from integration of the platform into the existing broker-dealer ecosystem, approvals/advice of and compliance with the rules and regulations of OTC Markets Group, SEC, FinCen, IRS, anti-money laundering rules, or FINRA. These rules encompass the functionality of the system, cybersecurity laws, and state and federal financial laws. No assurance can be given that such regulatory approvals will be obtained in a timely manner or at all.

SEC Approval

Our first regulatory challenge is seeking the approval of the Securities and Exchange Commission (“SEC”) of our concept for a security that could be traded on the BDTPTM because the SEC has not yet adopted rules or regulations specific to the digital securities industry nor any regulations involving blockchain or distributed ledger transactions. The SEC has chosen to enforce its existing anti-fraud laws and the registration rules and regulations. Accordingly, we must work through an undefined SEC approval process for our proposed system. We anticipate many comments and questions from the SEC during any approval process for the BDTP platform. We anticipate that could take one to three years to complete the approval process for the BDTP platform.

FINRA
Our next regulatory challenge is that our concept requires implementation by a broker dealer registered with FINRA. We do not anticipate registering our company as a broker dealer, but instead would contract with a broker dealer to act as our agent/intermediary for our concept, thereby alleviating our Company of all regulatory compliance issues of a broker dealer.

...we do not believe it would be constructive to commence substantive negotiations with a FINRA regulated broker dealer until we have substantially completed the SEC approval process. Once we believe we have substantially completed the SEC approval process, we believe it may take an additional six to twelve months to reach agreement with a FINRA regulated broker dealer.