So this is a fraudulent post that should be reported. You have created your own facts and framed it as Backstar's print? I know that you do not have a link for this information because there are a number of material false statements in it. Specifically to the subject of tokenized securities - ...now through Tokenization. Blackstar's platform proposes to trade Public Companies not unregistered private offerings..... That is a false statement. You also keep referring to a "registration statement" in such a way to suggest that the SEC was somehow registering the trading platform idea.
The registration statement is actually the vetting of the prospectus for the S-1 offering. The SEC was conducting due diligence to ensure what Blackstar is marketing to investors is actually true. Back to the subject of tokenization of securities. There is a specific correspondence document from the SEC that addressed this issue dated November 10, 2022 in support of amendment six of ten to the S-1 offering registration.
...Please reconcile your disclosure throughout and provide your analysis how the electronic fungible shares as currently described on pages 39-42 do not represent "tokenized" securities.
Response: Based upon the Staff’s comment, the Company has revised the disclosure on pages [38-42] to clarify that the electronic fungible shares will be cleared through its broker-dealer and DTCC. In addition, we respectfully advise the Staff that the disclosure on page [41] has been revised to provide the Company’s analysis as to how the electronic fungible shares do not represent “tokenized” securities.
Page 41 and 42 The core platform has been designed for initial use with BlackStar common stock and is thus the BlackStar Digital Trading Platform™ (BDTP). Our BlackStar Electronic Fungible Shares (BEFS) are proposed to be the initially traded securities on the blockchain on the BDTP™ platform and the rights and privileges to each shareholder of the BEFS is the same as certificated shares of common stock of BlackStar. BEFS are the same class of common stock as, and are identical to, paper certificated and book-entry shares of common stock; BEFS merely describes the format of the share...
The BEFS are not “tokens” or “crypto tokens”. A “token” is generally understood to be a unit of value that blockchain-based organizations or projects develop on top of existing blockchain networks. While they often share compatibility with the cryptocurrencies of that network, they are a wholly different digital asset class.
OK Joe, now that you have the patents, when are you going to start suing people? Patents of this magnitude have to be tested in court, or no one pays for them.
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