The lack of selling here makes sense. I have seen this with other stocks who's CEO puts out a regular stream of press releases, in this case infomercials, when they are selling shares. Traders hold hoping that next infomercial produces a bit of liquidity to work with. I watched Jason Remillard the CEO of Data433 ($ATDS) do this for years with weekly press releases when he was selling shares. He did this for years with four reverse splits in four years, a great tactic that works. Traders love this and will play the game. A game that only the company and those converting control. You are up against a recent multi month low after it was cleared out with the November run to a penny. They will continue to work this space up against the low and hope the liquidity holds up. That April 10th infomercial was a fail so maybe traders are finally wise to the CEO's game now.
It worked on March 22nd when the CEO was in full pump mode and those watching were led to believe once again that Blackstar had a viable product. The April 10th infomercial was different in that the CEO reveals that they aren't able to use their blockchain trading platform app to trade even their own shares. The result was only 3.4 million shares traded. Add to that the new filing and we now know for certain that this guy has been dumping shares into his promotion for months. Consider the character of a CEO who would spent many tens of thousands on professional media consulting to dupe traders into paying top dollar for conversions that are already priced at the very bottom of the trips. You all have been conned and that has been clear to me for months. Now what does he do to move more shares?
No sellers? can't the mms at least fake a few?lol...
During the year ended December 31, 2023, the Company issued shares of its common stock as follows:
845,162,311 shares for conversion of $200,432 principal and interest on convertible note payable.
71,250,000 shares valued at $266,063 as consideration for financing fees for loans made to the Company.
25,000,000 shares valued at $100,000 ($0.004 per share) as partial consideration for a media consulting contract.
56,788,923 shares for exercise of previously issued warrants at $0.0128 per share. The exercise price was revised to $0.00062 per share from $0.25 per share as per antidilution provision of the warrant agreement...
In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)
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