I have been underestimating the amount of dilution available since this was trading above a penny. The potential is endless with the very old debt that remains. The CEO is even rewarding the new note holders with nice share conversions on just the free shares and fees alone. Blackstar must pay very high predatory rates with shares to keep this scam going. The soaking up of the liquidity on March 22nd with 119 million shares traded tells the story. People here squawked no dilution through the end of 2023 despite what was in print. no one saying that now. Fools and their money.
Blackstar has already written several new notes for 2024 for unrelated individuals totaling $139K, again with more free shares as sweeteners. They borrowed $400K in 2023 with these same terms with those free shares. According to the annual, Blackstar issued 71,250,000 shares of its common stock in 2023, valued at $266,063 in servicing this debt. Sorta, maybe looks like Blackstar is pretty hard up for financing. Where is the mafia when you need a few bucks? 😆 As bad as 71 million shares for financing $400K is, it still pales in comparison of only $200,432 in debt relief for the issuance of 845,162,311 shares in 2023. Wow.
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