Yes, today was the lowest volume day since this the first method patent promotion began back on November 24th. The two infomercials managed to maintain the huge consolidation price level between $0.002 and $0.003 but liquidity is clearly drying up. I would now expect that GS Capital will receive the balance of the shares ordered under the preliminary injunction. The damage from the lawsuit is far from over with Blackstar's appeal to the Nevada Supreme Court. GS Capital will certainly also be represented as the plaintiff if the Supreme Court even elects to hear the case. You know what attorney fees could look like and Blackstar could be on the hook for all attorney fess along with the interest on what is now a note earning default penalties and interest. All this over a remaining principal balance of of only $33,682.
🙄 I think the biggest damage from the lawsuit could have been the restraining order preventing the Company from trading any shares. We know this to be dated November 9th which was at the beginning of the runup. Raises the question of if Blackstar was able to move any of the S-1 offering that advertised 46 million shares to move $803,275 or an average price of $0.017. Those old notes are a couple of years past maturity and you can bet that they won't like seeing this opportunity to covert go wasted. I expect to see these notes fully intact in the next filing but that will still be a while yet. What does Blackstar try to convert next after the restraining order is lifted.
...possibly additional recovery of legal fees and interest. The lawsuit increases the Company’s financial and administrative burdens and is a risk to the Company’s capital.
The Company may need to increase the authorized shares of common stock in order to accommodate any continued conversions, judgments, or settlements, and the Company could be exposed to further risks of lawsuits for similar issues. The Company will also expend additional resources in the ongoing litigation and any potential resolutions outside the above-reference conversions to common stock (which were already contemplated in the original convertible promissory note), negatively impacting its financial position.
case number is A-23-881099-B, plug it into the court search query linked below.
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