I doubt GS Capital has sold any shares other than the first tranche that they received in Q2 2023 which should have been vested by December and likely part of dumpage at the end of December. The GS Capital shares issued per the preliminary injunction started in December and continues so no shares should have been actually sold yet unless they are courting the attention of the SEC. I believe that they are observing the rule 144 holding period for unregistered shares which is why my prediction about the availability of vested shares in the second half of December appears to have been correct. The rest of the 698 million shares issued at an average of only $0.00017 were likely sold in January which is why we saw the CEO promoting in the two infomercials.
The insidious part about the lawsuit shares is that the outstanding principle balance on the note was only $33,682. The GS Capitals request for shares came on November 2nd so in accordance with the note language they appear to have locked in a conversion price of $0.00013 a share according to the January lawsuit update. Now there is interest, penalties and potential legal fees to go after. Blackstar wants everyone to believe that they will turn the tables on GS Capital but they agreed to the the terms of the note which are nasty if you do not decide to pay. Don't know what Blackstar expected but they have a history of not paying. They have a Quick Capital note that was declared to be in default April 2022. Two other notes in the S-1 offering for a total of $597,534 as of September 30th matured a couple of years ago. They now have a series of eight nine month notes that began maturing with two in December and two more in February. There is more. The fact that they are taking this to trial indicates how very bad the consequences may be.
Date of report (Date of earliest event reported): January 11, 2024 https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm 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.