Replies to post #7511 on BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Yep, parse their words rather than the promotional context that they would like to present. The product needs to be leased to an existing existing Broker Dealer - Alternative Trading System ("ATS") in an effort to be compliant with regulatory rules. The SEC advised in 2020 that "recommendation to apply for Alternative Trading System ("ATS") status..." this would apparently be their best bet with regard to regulatory oversight. Guess what, they have been unable to do for three years now. As of September 2023 "no ATS has committed to an arrangement".

The March 2023 press release was even more direct. "...there can be no assurance that such regulatory approvals will be obtained in a timely manner or at all" and best of all "The BDTP™ is not yet functional and may never be functional".

...It's designed to empower broker-dealers with a system that is fully compliant with SEC regulations,...

AMENDMENT NO. 10 TO FORM S-1
As filed with the U.S. Securities and Exchange Commission on June 16 , 2023
https://www.otcmarkets.com/filing/html?id=16735041&guid=v0J-kFrm_AM4B3h
Overview of the BDTP™ Platform

...the Company is seeking to license the BDTP™ platform to an existing ATS, broker-dealer, and/or clearing firm to host the BDTP™ platform so that it may comply with existing rules and regulations.

Blockchain First Infrastructure Designed to Enable Public Company Common Shares to Trade as Digital Securities
Monday, 11 September 2023 09:29
https://www.accesswire.com/782422/blockchain-first-infrastructure-designed-to-enable-public-company-common-shares-to-trade-as-digital-securities

The Platform is designed to function in the existing Broker Dealer back-office operations within the confines of existing rules or regulations. A Blockchain FirstTM sample transaction is as follows:...

At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.


BlackStar's Digital Trading Platform Concept Receives SEC Guidance in Q3 2020
Wednesday, 16 September 2020 02:00
https://www.accesswire.com/606207/BlackStars-Digital-Trading-Platform-Concept-Receives-SEC-Guidance-in-Q3-2020

The Company is positioning itself to trade BEGI common shares digitally on Amazon's Blockchain while complying with the rules and regulations within the Broker Dealer Eco-System.

In July 2020, the Company presented the concept to SEC FinHub staff members for regulatory guidance and received the recommendation to apply for Alternative Trading System ("ATS") status. Given that guidance, we are evaluating our options for finalizing the BDTP, including exploring partnerships with existing ATS's. BlackStar will continue to seek further input from various regulatory agencies and OTC Markets on the potential functionality and regulatory aspects of the BDTP over the next several months.


BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023 10:30
https://www.accesswire.com/743761/BlackStar-Enterprise-Group-Inc-Provides-Registration-Statement-Update

We believe it may take an additional six to nine months to address SEC comments and questions, and there is no assurance that we will be successful in our shares being approved or cleared for trading on our BDTP™ platform. The BDTP™ is not yet functional and may never be functional.

BlackStar looks forward to the next steps of seeking a relationship with an alternative trading system and/or broker dealer and seeking any further regulatory approvals for trading its shares on a blockchain platform. We believe the Company is on the path to bringing its proposed business plan to reality. However, there can be no assurance that such regulatory approvals will be obtained in a timely manner or at all.