Bubae
2 weeks ago
You are welcome. Rare that anyone on these boards appreciated real due diligence. The good news about the SEC canceling the conversion rights for SE Holdings and Adar Alef notes with a balance of $584,079 is that they won't be dumping that on shareholders. This is bad news for Joe and Blackstar. My hope is that the SEC is also going after GS Capital for the same reason. GS Capital dumped the 257 million priced at the ridiculous price of $0.00006 in Q1 after Blackstar lost its legal appeal to extend the stay on the conversions. Diagonal lending is another who converted 698 million shares at $0.00017 a share prior to the highly promoted runup to a penny in November 2023. My post below tracking those Diagonal Lending conversions with the assumption that they were observing the holding period for unregistered share conversions. What we later learned was that they were not which is a trading violation that the SEC has been prosecuting these lenders for. They must have had a heads up prior in my opinion because the stock traded as low as $0.0001 just days prior to the October patent news when Blackstar claimed to have a monopoly on securities traded on a blockchain platform. I also hope the SEC brings action for false Blackstar for statements like this many others in the podcasts with no disclaimer that the trading platform is not allowed to operate. Especially considering that the misinformation campaign was to support those share conversions.
Bubae
Re: Phyxius post# 14011
Monday, June 10, 2024 8:18:27 PM
Post# 14012 of 14298
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174577166&txt2find=Capital%2B%20shares
The only perfect timing going on is the collaboration of Blackstar and and the lenders to move these obscene conversions. After Blackstar couldn't get the stay for the lawsuit extended beyond February 15th G.S. Capital was able to sell the more than 257 million share conversions requested last November. The CEO went into full promotion mode to sell those shares and try to maintain price allowing G.S Capital to make an obscene profit off those conversions priced at only $0.00006. Much more in the pipeline to come for certain so load up! big smile The company has zero revenue and the product that they are promoting isn't allowed to operate due to regulatory rules governing securities. This has been the case for years.
Bubae
Re: None
Saturday, December 23, 2023 10:12:19 AM
Post# 7962 of 14298
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173492266
Update on the rollout of the 698 million shares converted at $0.00017...
So either these two toxic lenders are not observing the holding periods and courting attention from the SEC or this ticker is about to get hammered in Q1 2024 in my informed opinion. Notice in the charts that the conversion value entered is based on the par value ($0.001) of the stock and not the actual conversion price. Next up are the offerings and others, we are just getting started!
Bubae
Re: The Whale post# 6742
Tuesday, December 12, 2023 9:28:06 AM
Post# 6750 of 14298
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173409674
[t]Interesting how the narrative changes from one press release to another when the debt conversions are ready. They disclosed that the current SEC regulatory rules render the patent useless in March then say nothing about it in October where he claims to have a 20 year monopoly. I would say if pressed on the monopoly comment he would say the context for the word would be that they are the only company doing it. I believe there are good reasons for being alone in this space. The regulatory issues are one and the product is dependent on existing broker / dealers. Would they even be interested in licensing it. There is a reason these toxic note holders conversions doubled the outstanding share count with conversions priced at an average of $0.00017. They conduct actual due diligence.[/t]
Bubae
3 weeks ago
As always Marc, you are a legend in your own mind. 😆 How much are you down on this trash now? Your post below when this was trading above a penny.
Savannah-Marc
Re: ice trader post# 4303
Wednesday, November 29, 2023 10:33:21 PM
Post# 4442 of 14004
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173325037
My dude, if you sold out of BEGI and stated you moving on, then why the fock you still here pissing and complaining and trying to shoot down Blackstar. Are you trying to save the little guy investor and make us beware the Blackstar or are you really just trying to scare up more shares and knock the price down??? The more you bash, the more I make, I own a sizeable amount of the float. Your fear tactics only encourage those like me to hold and accumulate more shares.
BLACKSTAR TO $5 A SHARE!!!!!
PLEASE BASH BEGI MORE, IT ONLY SHOWS THAT YOU'RE HERE AND WITH AN AGENDA!!!!!
Bubae
4 weeks ago
New outstanding share count update as of yesterday once again backdated this time to August 23rd. We have a 17 million share increase. The registered share count also increased by the same amount of 17 million. However the unregistered shares count increased by 68,424,833 shares. Again, the OTC site shares count details for this stock is suspect and that number could not be correct. The number for the float still shows 1.6 billion shares and has been wrong since I have been following this stock with each update of that number. The OS for November 1st 2023 was 1.2 billion shares.
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
Page 1
As of November 1, 2023, there were 1,244,572,435 shares of the registrant’s common stock, $0.001 par value, issued and outstanding,...
Bubae
4 weeks ago
Institutional lenders are done with Blackstar from what I see. The SEC busted "...the managing member of SE Holdings, LLC, individually, and Adar Alef, LLC..." for unregistered dealer activity. Blackstar handed over the 62 million shares @ $0.0002167a share to Adar Alef in November 2023 while the stock was on its way to a penny. This while they denied GS Capitals conversion requests that were made on November 2nd which triggered the costly lawsuit. That was dumpage of unregistered shares and they would have made small fortune on those cheap conversions.
Now those two SE Holdings and Adar Alef notes with a balance of $584,079 are no longer convertible. These lenders are pretty much screwed because Blackstar really has nothing tangible worth going after in court other than super cheap shares like GS Capital received. If by some miracle Joe begins to generate any revenue from his ideas they cash will go to debt holders, legal fees, and legal settlements from what I see. 😆
For the quarterly period ended June 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000098/begi-20240630.htm
Page 12
NOTE 7 – CONVERTIBLE NOTES (continued)
On January 23, 2024, the managing member of SE Holdings, LLC, individually, and Adar Alef, LLC, also managed by the same individual, as the entity, settled charges with the SEC ordering them, in part, to surrender for cancellation all remaining shares of the Company they obtained through conversion of notes, as well as conversion rights under any remaining convertible notes. The Company is evaluating what this means for the remaining outstanding conversion rights under the two convertible promissory notes held by SE Holdings, LLC ($220,000) and Adar Alef, LLC (original face amount of $550,000), and for the current holdings of Adar Alef, LLC (5,000,000 shares of common stock of BlackStar). The Company is of the opinion that the notes are no longer convertible and are classified as ordinary debt.
Aryeh Goldstein, Adar Bays, LLC, and Adar Alef, LLC
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25930 / January 23, 2024
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25930
The parties have agreed to settle the charges. Among other relief, Goldstein and his entities agreed to pay $1.25 million in monetary relief and to surrender or cancel all remaining shares of public companies allegedly obtained from their unregistered dealer activity.
Bubae
Re: None
Saturday, May 04, 2024 6:02:41 PM
Post# 13663 of 14272
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174358707&txt2find=November%2BAdar
Another example of why you can not trust what this company posts on the detail page at the OTC markets site. I'm looking at that November conversion price of $0.0002167 and the chart to determine what twenty day period could they have locked in the three lowest closing bid prices. I find that the latest date that they could have locked in a price even close to that would have been the 16th of November. By October 27th the closing price was already $0.001 after the press release on the 24th. December 16 would have been pretty close to have been included in the subsequent events section of the Q3 filing since the 16th would have been on a Thursday and the Q3 was filed the following Monday the 20th.
In November 2023, Adar Alef issued a notice of conversion for a partial conversion of $13,455 principal into 62,100,00 shares of the Company’s common stock at a price of $0.0002167 per share under the conversion provision and terms of the note agreement.
Bubae
Re: None
Sunday, July 28, 2024 8:00:11 AM
Post# 14188 of 14272
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174823523&txt2find=friends%2Bassociates
[color=red]Blackstar isn't attracting ay real investors which speaks to the lack of potential for what they have been trying to do for years.. Blackstar has been reduced to borrowing from what the company describes as "...long-standing business associates, friends, and employees...." in their filings. To pay these people back he CEO will need to con OTC retail into buying that paper. On the other hand the DTCC has invested $50 million in an acquisition of the tokenization solution company Securrency for trading all real world assets on a blockchain.[/color]
Bubae
4 weeks ago
That is non-sense. The statement by the Nevada Supreme Court denying the extension of the stay is telling. "When a contract is clear on its face, it will be construed from the written language and enforced as written." The two points in the newly filed brief by Blackstar have already been addressed previously. The GS Capitals previously filed response to these claims is linked below. It looks to me like Joe is spending a fortune just dragging this out. It is bad enough that he is on his way to $1 million defending this, he may ultimately be on the hook for GS Capitals legal expenses as well.
Bubae
Re: gshores post# 13963
Tuesday, June 04, 2024 8:39:11 PM
Post# 13965 of 14269
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174544157&txt2find=supreme%2Bcourt
Link and case number for the docket schedule below. Bench trial scheduled for January 2025. The Nevada Supreme Court pretty much sums up the case for me with their statement denying the stay which expired February 15th. "When a contract is clear on its face, it will be construed from the written language and enforced as written."
Document 24-03599 dated February 3rd 2024 linked at right of line item
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=DD86B554D3E6998D3A6E9EB41AA71067?csIID=68335
Naturally, GS Capital sought to exercise its conversion rights to receive shares of Blackstar stock—the benefit of its bargain. Blackstar refused. Then, after several weeks—during which GS Capital would have received about 257 million shares through conversions—Blackstar attempted to pay off the Note and thereby argue that, retroactively, GS Capital’s conversion rights are thereby extinguished. GS Capital argued this absurd result would be similar to a stock option seller unilaterally returning the option’s purchase price in an effort to rescind the option purchase because the option was now “in the money” and costly to the seller. The lower court correctly agreed with GS Capital and required Blackstar to reserve the contractually-mandated shares.
Second, Blackstar shockingly omits that it contractually agreed that GS Capital is entitled to injunctive relief and specific performance in the event of a breach, on which the Order correctly relied. Blackstar also omits that the Note, as amended under which GS Capital sued—provided for exclusive Nevada jurisdiction.
Bubae
1 month ago
Blackstar is getting crushed with legal fees related to this stupid, stupid, stupid lawsuit. Stupid why? Because it is over the failure to deliver conversion shares in November 2023 that amounted to less than half the principle owed at the time. It was 257,701,499 million shares at what we would learn later was priced at $0.00006 a share, not a typo $0.00006, or a bit more than $15,000. The reported remaining principal balance on the GS Capital note was only $33,682. Now if GS Capital had gotten their conversions they would have made a small fortune off this while the fools who bought this drove it to a penny at the time.
So Q4 2023 we had an increase cash burn in legal and professional fees of $210,499. The reported Legal and professional fees were $363,253 for Q1 2024, and for Q2 2024 we see legal and professional fees of $232,942. According to the filing; "Legal and professional fees of $596,195 for the six months ended June 30, 2024 increased by $505,307 from $90,888 for the comparable 2023 period." Now, someone couldn't find the cash to pay off that stupid note balance last year? Stupid is as stupid does. 🙄
Blackstar is still borrowing from the so called friends and associates in Q2 but not enough to cover that cash burn. The balance sheet on page page 3 of the Q2 filing reveals a $874,101 accounts payable as of June 30th versus $358,001 as of December 31st 2023. I went back to the Q3 2023 filing and found that the accounts payable number was only $167,000.
Nevada Supreme Court Case Documents - linked by the document numbers at the right.
Excerpt from document # 24-04955
The harm imposed by Blackstar’s breach was then compounded on November 7, 2023, November 10, 2023, and November 16, 2023 (the “Subsequent
Conversions”), on which dates GS Capital would have converted and sold additional shares. The Note afforded GS Capital conversion rights to 257,701,499 shares from November 2, 2023, to November 16, 2023. See Reply to Injunction Motion (Dkt. No. 19), 6:4-13; see also Decl. of Gabe Sayegh at ¶¶ 9-15.
Bubae
Re: ericdude post# 13784
Sunday, May 12, 2024 8:55:38 PM
Post# 13788 of 14155
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174403108&txt2find=litigation%2Bfees
Here is what they have been burning cash on instead of product development. Legal and professional fees for the first nine months of 2023 was $116,028 according to the chart on page 4 of the Q3 filing. The 2023 annual reveals a total of for $326,527 legal and professional fees for 2023 which means that Blackstar has burned $210,499 in Q4 alone for these services. Compare that to only $25,140 for Q3 2023. So it would appear that Blackstar is getting crushed by this stupid GS Capital lawsuit filed on November 6th over what was a principle outstanding balance of only $33,682 as of September 30th 2023. Q1 2024 has also been very busy in terms of the lawsuit with their "Motion for Stay Pending Appeal" to the Nevada Supreme Court which was denied. It will be interesting to see what the lawsuit cash burn was for Q1 was.
For the quarterly period ended March 31, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000085/begi-20240331.htm.htm
Results of Operations
For the Three Months Ended March 31, 2024 compared to same period in 2023
Net loss for the three months ended March 31, 2024 was $499,072 as compared to $117,204 for the three months ended March 31, 2023, an increase of $381,868.
Legal and professional fees of $363,253 for the three months ended March 31, 2024 increased by $318,601 from $44,652 for the comparable 2023 period. The increase in legal fees for the 2024 period was predominately for fees related to litigation for convertible debt issues.
For the quarterly period ended June 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000098/begi-20240630.htm
Page 17
Legal and professional fees of $232,942 for the three months ended June 30, 2024 increased by $186,706 from $46,236 for the comparable 2023 period. The increase in legal fees for the 2024 period was predominately for fees related to litigation for convertible debt issues....
Legal and professional fees of $596,195 for the six months ended June 30, 2024 increased by $505,307 from $90,888 for the comparable 2023 period. The increase in legal fees for the 2024 period was predominately for fees related to litigation for convertible debt issues.