Blackstar has a method patent that rides on technology that must be licensed from others. The BlackStar Digital Trading Platform (BDTP), which is the method patent, depends on their "...ability to enter into a license agreement with a broker dealer or an alternative trading system (“ATS”)" Another important point revealed in the S-1 offering which states "The SEC however has not yet proposed regulations for ATS trading of digital securities and is treating ATS applications under existing regulations" No mention of the regulatory issues that have had this shut down for years in any of the promotional material or even the videoed interview which was essentially a commercial. September 2023 "At this time, no ATS has committed to an arrangement." This is the reason that this stock was trading as low as $0.0001 just days before this runup. The fiction is slowly being revealed. Good luck with your pump. Should you not be disclosing as a paid promoter?
RISK FACTORS RELATED TO OUR PLATFORM AND BLOCKCHAIN/DISTRIBUTED LEDGER TECHNOLOGY
IF WE ARE UNABLE TO PROTECT THE CONFIDENTIALITY OF OUR TRADE SECRETS, OUR BUSINESS AND COMPETITIVE POSITION COULD BE HARMED. Significant elements of our intended products and services are based on unpatented trade secrets and know-how that are not publicly disclosed. In addition to contractual measures, we try to protect the confidential nature of our proprietary information using physical and technological security measures.
INTELLECTUAL PROPERTY RIGHTS CLAIMS MAY ADVERSELY AFFECT THE DISTRIBUTE LEDGER TECHNOLOGY. Third parties may assert intellectual property claims relating to their source code, including Distributed Ledger Technology. Regardless of the merit of any intellectual property or other legal action, any threatened action that reduces confidence in distributed ledger technology’s long-term viability may adversely affect an investment in us.
Overview of the BDTP™ Platform Blackstar has built the technology based upon the Quantum Ledger Database, a blockchain framework from Amazon Web Services (“AWS”), and to use the AWS Cloud for transaction data storage. The BDTP™ would offer a web-based interface for trading transactions as well as an Application Programming Interface (API) that directly accesses all transactions stored on the BDTP™. In June 2020, BlackStar and Artuova, a custom software development company, successfully completed a production ready user interface for the BDTP™ platform, which is feature-complete.
THE OPERABILITY OF OUR PLATFORM DEPENDS ON OUR ABILITY TO ENTER INTO A LICENSE AGREEMENT WITH A BROKER DEALER OR AN ALTERNATIVE TRADING SYSTEM. Our plan to operate the BlackStar Digital Trading Platform TM relies on our ability to enter into a license agreement with a broker dealer or an alternative trading system (“ATS”).The BDTP
SEC Alternative Trading System The final significant regulatory challenge involves the Alternative Trading System (“ATS”) as defined under 17 CFR §242.300. We understand the SEC position on digital securities to be that digital assets are required to be traded through an ATS, with which we agree. An ATS must comply with many control, regulatory, reporting, securities, inspection, procedural, and disclosure requirements. The SEC however has not yet proposed regulations for ATS trading of digital securities and is treating ATS applications under existing regulations.
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.
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.
$BEGI Blockchain-Driven Technology Platform Harnessing The Future Of Financial Transactions
In an era where the intersection of technology and finance shapes the future of business operations, BlackStar stands at the forefront with its Blockchain-Driven Technology Platform ( B.D.T.P.™). This groundbreaking platform is the culmination of our commitment to integrating the robustness of corporate finance with the innovative prowess of blockchain technology.
B.D.T.P.™: The Power Of Blockchain
B.D.T.P.™ is meticulously crafted to transform the landscape of financial transactions, offering an ecosystem where security, transparency, and efficiency are not just ideals, but everyday realities. With B.D.T.P.™, BlackStar is redefining the norms of financial operations, setting new standards for how businesses engage in and manage their financial dealings.
BlackStar's BDTP utilizes the unique advantages of blockchain technology, enabling businesses to:
1. Reduce Costs: Eliminate the need for intermediaries and reduce transaction fees.
2. New Dynamic In Trading: In a paradigm shift, shareholders and investors place trades directly on the Blockchain.
3. Immutable Records: Once a transaction is added to the blockchain, it cannot be altered, ensuring integrity.
Security First Leveraging blockchain's inherent security features, B.D.T.P.™ offers a tamper-proof, decentralized record of transactions. This ensures utmost confidentiality and trustworthiness in every deal you make.
Transparent Transactions B.D.T.P.™ promotes transparency by offering a clear audit trail of all financial interactions. Every transaction is verifiable, traceable, and free from hidden charges or ambiguities.
Efficient and Fast Say goodbye to prolonged waiting periods. B.D.T.P.™ streamlines processes to ensure quick, hassle-free transactions, making business smoother than ever.
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