Replies to post #12709 on BlackStar Enterprise Group Inc (BEGI)

[SorcererDiviner18]

BOULDER, CO / ACCESSWIRE / September 15, 2020 / BlackStar Enterprise Group, Inc. (OTCQB:BEGI), has created software demonstrating the concept of trading shares for cash using blockchain technology. The software design is complete and demonstrates a proof-of-concept trading ability while recording activity using an immutable blockchain ledger hosted by Amazon's (AMS) Hyper-Link Blockchain.

We have completed a working demo on Amazon Blockchain that facilitates shareholder trading activity - a process that we believe complements the existing market makers.

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.

The platform is not being used anywhere, correct. SEC FinHub was demonstrated the demo. This is status quo for tech startups, nothing nefarious with that at all. This was done in 2020, and we all know what ensued in the world subsequent to this. Like 99.9% of OTC companies, they have had to resort to convertible financing, which I agree is less than palatable, but it is what it is. Everyone involved has incentive to see this through.

Every technology/product/ service is a demo (proof of concept) until the product and service is active in the real world marketplace.

If the platform was not viable, we would of never heard a peep out of Blackstar after their presentation to SEC, or ultimately received guidance to apply for ATS status.

SEC FHS does not approve or deny anything, they simply evaluate what is put in front of them from the perspective of a compliance and regulatory perspective. Guidance is just guidance, advice to BEGI on what they believe they should do next to be compliant in the future. Look at all the crypto currency ponzi schemes that never went to SEC or received any kind approval to trade assets (securities from the perspective and words of Gary Gensler) on exchanges. SEC has talked tough and not done one iota to protect investors. SEC said they would sue all of them. Still waiting. Recent developments in that industry has shown that they are not serious.

BEGI timeline is not what you want. Everything is 90% done as per Joe K in his latest interview.

And they have put themselves willingly in front of and on the radar of SEC. Even going as far as to advance the platform to give SEC more power and control should they deem this not compliant.

I will be interested to see what the next 6 months brings, and then I will revisit the question of timeliness. Working demo is different than ready to go-to-market. All things considered, he is doing pretty well advancing things along with minimal help.

[moondogaz]

Ask Jeeves?... dude