BlackStar Enterprise Group Inc (PK) (BEGI) Quote

The method patents provide for Blackstar the right to defend their method which at this point they are unable to use. Blackstar's method depends on Amazons product and by their own admission "...Significant elements of our intended products and services are based on unpatented trade secrets and know-how... "


AMENDMENT NO. 10 TO FORM S-1
As filed with the U.S. Securities and Exchange Commission on June 16 , 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000063/blackstar_s1a10.htm

RISK FACTORS RELATED TO OUR PLATFORM AND BLOCKCHAIN/DISTRIBUTED LEDGER TECHNOLOGY

IF WE ARE UNABLE TO PROTECT THE CONFIDENTIALITY OF OUR TRADE SECRETS, OUR BUSINESS AND COMPETITIVE POSITION COULD BE HARMED.
Significant elements of our intended products and services are based on unpatented trade secrets and know-how that are not publicly disclosed. In addition to contractual measures, we try to protect the confidential nature of our proprietary information using physical and technological security measures.

INTELLECTUAL PROPERTY RIGHTS CLAIMS MAY ADVERSELY AFFECT THE DISTRIBUTE LEDGER TECHNOLOGY.
Third parties may assert intellectual property claims relating to their source code, including Distributed Ledger Technology. Regardless of the merit of any intellectual property or other legal action, any threatened action that reduces confidence in distributed ledger technology’s long-term viability may adversely affect an investment in us.

Overview of the BDTP™ Platform
Blackstar has built the technology based upon the Quantum Ledger Database, a blockchain framework from Amazon Web Services (“AWS”), and to use the AWS Cloud for transaction data storage. The BDTP™ would offer a web-based interface for trading transactions as well as an Application Programming Interface (API) that directly accesses all transactions stored on the BDTP™. In June 2020, BlackStar and Artuova, a custom software development company, successfully completed a production ready user interface for the BDTP™ platform, which is feature-complete.

Blackstar needs to demonstrate that they have something to defend. Watch the infomercials, everything rides on the trading platform that isn't allowed to operate. Blackstar can't even get their own shares trading on the platform let alone convincing other t use it. As I said before, follow the money. Blackstar isn't attracting any investors.


Bubae
Re: burner67 post# 14055
Wednesday, June 19, 2024 7:23:06 PM
Post# 14057 of 14177
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174625818
...Comment segment on page 55 of the annual filing "...and ultimately SEC approval of our digital trading platform...." The lack of efficacy of the proposed trading platform has been an issue for years because of regulations governing securities. The CEO reveals this in the filings and used to comment on it in the printed pubic statements. But he is converting debt now so bringing the subject up is not conducive for share selling efforts. The problem is that he is getting very little debt relief relative to the shares issued for conversions.

You two are missing the point. Doesnt make a difference if the patents are acquired or not. Somebody has to pay to defend the patents. If the patents are acquired without being court tested, the value is lower because they will have all the legal costs.

The bashers are pathetic on this board, literally bashing this small company for months. I can't wait for the case with GS Capital to get done so we can get the stock price and volume moving again. BEGI is solid.

Of course Blackstar lives rent free because Blackstar couldn’t afford to pay rent. Joe is down to borrowing money from people like you 😂

lol…My financial decisions have paid off big this year, while your BEGI shares are down 87% from their 12 month high. ‘Our’ upcoming quarterly report? We all know you talk with Joe. Too much listening to Joe will lose you a lot of money.

Your financial decisions seem to remain in perpetual "pause mode".
Blackstar lives rent free in your mind. We should include that in our upcoming quarterly report! Might be a tax write off for ya big brah.

And DTCC and Securrency are serious companies, not little one man operations. DTCC has 4,300 employees. And before being acquired, they had 95 employees. Can people not see the difference between these companies and Blackstar?

https://www.dtcc.com/news/2023/october/19/dtcc-signs-definitive-agreement-to-acquire-securrency-inc

And before being acquired, Securrency had raised $47.6 million. A little different than Blackstar.

https://www.fintechfutures.com/2023/12/dtcc-completes-acquisition-of-securrency-rebrands-business-as-dtcc-digital-assets/

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.



...the Depository Trust and Clearing Corporation (DTCC) is a user-owned cooperative that is owned by the companies that use its subsidiaries. The DTCC's common stock is owned by the financial institutions that participate in its registered clearing agency subsidiaries. The New York Stock Exchange (NYSE) is one of the DTCC's largest shareholders....

Bubae
Re: Short Squeeze post# 13957
Monday, June 03, 2024 1:11:47 PM
Post# 13958 of 13990
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174534517&txt2find=tokens
It is clear where stock trading on a blockchain is going. All one needs to do see who is attracting capital in this space and it isn't Blackstar. The DTCC acquisition of Securrency is reported to be a $50 million deal. Blackstar is being sued by GS Capital Partners over the failure to deliver shares for partial conversions for a principle balance of only $33,682. Now the legal fees are consuming the cash raised from the new expensive short term notes. Blackstar struggles with toxic notes that are in default and matured two years ago and their method patents are not attracting any real investors. Just opportunists who have been profiting at an obscene level taken from retail buying into this story....DTCC completes acquisition of tokenization solution Securrency
December 11, 2023by Ledger Insights
https://www.ledgerinsights.com/dtcc-completes-acquisition-of-tokenization-securrency/

Meanwhile, last year DTCC launched Project Ion, a post trade stock settlement solution. It runs in parallel with DTC’s classic settlement system which remains the system of record, presumably to adhere to SEC requirements. That solution runs on R3’s Corda enterprise blockchain.


Bubae
Re: LazyInvestor post# 14074
Saturday, June 22, 2024 1:12:22 PM
Post# 14076 of 14187
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174640774
Blackstar included that statement about private placement of stock since 2019 in all their filings. I list all of these in post# 13961 with links. For a stock that is heralded as a "Revolutionary Digital Trading Platform" it isn't attracting any private investment. According to the annual with links to the information in post# 13991 linked below the $400K of new financing for 2023 was "...All of the individuals and/or entities listed above that purchased the unregistered securities were all known to us and our management, through pre-existing business relationships, as long-standing business associates, friends, and employees..." Yes friends and associates and they were handed some sweet notes. 71,250,000 restricted shares vesting between now and the end of June are the free shares and interest issued on those notes. You can bet that the CEO will do what he can to help them out.

Struck a nerve? Naaaah. If you’ve been paying attention you know I owned it and sold it at a loss. This company is in pause mode. All the hype leading up to patent approvals and now dead silence.

Your research better have included talking to the right people of the list of companies you think would buy this thing. And when I say the right people, I’m talking about the people that run their trading platform as well as people in clearing and compliance. I’ve done that and the feedback is always similar.

I foresee a buyout if everything goes in Blackstar's favor. A bigger company would have the time and resources to enforce their patent rights in court. The more money you spend, the more justice you get.

Patents that are not court tested are not worth a lot by themselves. An acquirer othe p
atents will have the same issue. No one pays royalties just because you send them an invoice. If there has been no court test on validity, then they will hold payment until someone gets sued and loses. Just the way it is. Every major patent that I know of has been court tested, some valid, some not. And you are in big trouble if you are a small company without much money. Infringers know legal bills are cheaper than paying royalties.

Struck a nerve? You're fake self has been complaining about a company that you don't even own for over a year, sounds fishy to me. I did my research and I'm invested with Blackstar.

You’re also the guys who said this wouldn’t get back into the teens. No one is buying this company. Don’t be surprised if it goes dormant sometime in 2025

Use your noggin. If there was any demand for Joe’s patent or technology it would have been purchased by now or he would be talking about interest regarding a possible acquisition. People or non toxic lenders would also be lending him large amounts of money at reasonable interest rates. Read the tea leaves. That says it all.

The patents and platform will be worth a very very considerable amount of money when and where the markets begin to employ blockchain technology in equities trading. Burying GS Capital in a settlement or counter-suit will help with Blackstar's liquidity very shortly.....

Blackstar would be a perfect target for acquisition, the company is pretty much a one man band with CEO Joe K. and he's at a point where it would be much more effective to have a larger company come in and further build out the technology and platform. It's all a matter of time and when and where the markets begin to adopt and utilize blockchain. I'm bullish. It's akin to investing in steam engine locomotives while everyone else is still trying to use canals and stage coaches. The future is coming, whether one favors it or not, and what Blackstar has is definitely the future!

A good reference for that question on in post# 14057 which also has links to the information. The SEC gave them guidance on this subject going back to a September 2020 press release included in the post. The only comment that I am aware of in the five infomercials with the CEO made regarding the need to partner with a broker dealer or ATS starting about 2:50 into the April infomercial linked below.


Bubae
Re: burner67 post# 14055
Wednesday, June 19, 2024 7:23:06 PM
Post# 14057 of 14177
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174625818
...Comment segment on page 55 of the annual filing "...and ultimately SEC approval of our digital trading platform...." The lack of efficacy of the proposed trading platform has been an issue for years because of regulations governing securities. The CEO reveals this in the filings and used to comment on it in the printed pubic statements. But he is converting debt now so bringing the subject up is not conducive for share selling efforts. The problem is that he is getting very little debt relief relative to the shares issued for conversions.

Can you post where it says Blackstar trading isn’t allowed?

At least stock chat boards, right?

Predictions based on hope, not reality.

I think you pretty much just summed up the internet in general, lol

I don’t hate it. I just find some of the wild predictions without merit quite entertaining. But as I read some of the other boards, I’m realizing most penny investors are like that. Predictions based on hope, not reality.

If you hate this company so much, why are you here? Go waste your time somewhere else.

Explain how 20X price = $50mil. Not making sense to me.

The patent was received 7 months ago. If this was such transformative technology, you would have seen angel investors or venture capital step in a while ago.

Or someone wants the tech to control it. If they 20x price ( 50 million ). I would be ok with that. Am expecting more though,

Who says this is worth several hundred million to a billion? People on this board? I'm curious to know.

This trading platform is going no where. The SEC doesn't allow it too operate and all real world assets are going the route of tokenization. That is why Blackstar isn't attracting any real investors. This CEO has been reduced to borrowing from friends and associates according to the filings.


Bubae
Re: Savannah-Marc post# 14014
Tuesday, June 11, 2024 8:50:42 PM
Post# 14025 of 14167
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174583791
Sure looks that way Marc. Just not the way Blackstar proposes to do it which is why Blackstar isn't attracting investment capital. Heavy investment going into the tokenization of real world assets. The DTCC investment is the real deal, Blackstar has nothing to do with this space.DTCC completes acquisition of tokenization solution Securrency
December 11, 2023by Ledger Insights
https://www.ledgerinsights.com/dtcc-completes-acquisition-of-tokenization-securrency/

Meanwhile, last year DTCC launched Project Ion, a post trade stock settlement solution. It runs in parallel with DTC’s classic settlement system which remains the system of record, presumably to adhere to SEC requirements. That solution runs on R3’s Corda enterprise blockchain.


Bubae
Re: burner67 post# 14055
Wednesday, June 19, 2024 7:23:06 PM
Post# 14057 of 14065
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174625818
...Comment segment on page 55 of the annual filing "...and ultimately SEC approval of our digital trading platform...." The lack of efficacy of the proposed trading platform has been an issue for years because of regulations governing securities. The CEO reveals this in the filings and used to comment on it in the printed pubic statements. But he is converting debt now so bringing the subject up is not conducive for share selling efforts. The problem is that he is getting very little debt relief relative to the shares issued for conversions....
Goldman Sachs to launch three tokenization projects by end of year, says digital assets chief
BYLEO SCHWARTZ
July 10, 2024 at 9:29 AM EDT
https://fortune.com/crypto/2024/07/10/goldman-sachs-launch-tokenization-bitcoin-etfs-crypto-mcdermott/

Not until they sue someone for infringement and win. No one pays until a court enforces someone to pay.

Depends on what you consider this is worth, some say several hundred million to a billion.

Do you think company like IBM, Black rock or any others would acquire BEGI ? Most of the Pink sheet companies are not doing that great. Before there use to be times when some even ran to almost $2. with out much substance. Now hardly doubt anything like that can happen . If there is a Buyout all is possible based on realistic valuation. .

And your shares will never get expensive because this company has no sales, no subscriptions, not a dime of income. Also no SEC approval, which is mentioned in the latest 10-Q. Pretty obvious this is a bad investment but go ahead. Keep telling us what an amazing company it is!

Blah, Blah, Blah...Same old predictions from you Marc. They never come true. I sure hope people don't listen to you. You're horrible at this. Hey...I thought you were going to keep this from going into the teens? What happened? And don't forget to click on your favorite memes, the turd and the clown, after reading this. 🤣🤣🤣

Settlement talks have "re-engaged".
I'm betting GS Capital will settle with Balckstar before briefs are submitted. A Nevada Supreme Court loss would probably bankrupt GS Capital if a settlement doesn't. My shares are about to get very very EXPENSIVE AHAHAHAHA!!!!!!!!!!

Joe running out of bodies willing to lend him any significant amount of money.
Zero subscriptions or talks of a sale. Joe is scarily silent. Why? Very low volume and trade sizes are small. This is not looking good. We could be near the end of the road.

JOINT MOTION FOR EXTENSION OF TIME TO FILE THE OPENING
AND ANSWERING BRIEFS
Pursuant to NRAP 31(b)(3), Appellant Blackstar Enterprises Group, Inc.
(“Blackstar”) and Respondent GS Capital Partners, LLC (“GS Capital”) hereby
jointly move for extensions of time to file the opening and answering briefs.
A. The current due date and the requested extensions
Blackstar’s opening brief is currently due on July 23, 2024. Blackstar
respectfully requests a 30-day extension to file the opening brief, which would make
it due on August 22, 2024.
GS Capital’s answering brief is currently due on August 22, 2024. NRAP
31(a)(1)(B). To the extent Blackstar’s requested extension is granted, GS Capital
respectfully requests an additional 30-day extension to file the answering brief,
which would make it due on October 21, 2024.
B. Prior requests for an extension
Blackstar received one prior 14-day telephonic extension on July 8, 2024.
Blackstar has not had any requests for an extension denied.
GS Capital has not received any prior extensions and has not had any prior
requests for an extension denied.

C. There is good cause to grant the extension
There is good cause for the requested extensions for two reasons. First, along
with other conflicts, undersigned counsel was out of the country at the end of June
and beginning of July on a pre-planned family vacation. This has impacted
Blackstar’s ability to finalize the opening brief before the current deadline.
Second, and more importantly, the parties have re-engaged in settlement
discussions and the requested extensions will allow the parties to fully explore a
potential settlement before incurring additional legal expenses.
BROWNSTEIN HYATT FARBER SCHRECK, LLP
/s/ Eric D. Walther
ERIC D. WALTHER, ESQ., Nevada Bar No. 13611
BRENT R. OWEN, ESQ. (pro hac vice)
HAYNES AND BOONE, LLP
Attorneys for Appellant Blackstar Enterprises Group
LEWIS ROCA ROTHERBER CHRISTIE LLP
/s/ Ogonna M. Brown
OGONNA M. BROWN, ESQ., Nevada Bar No. 7589
TRENT EARL, ESQ., Nevada Bar No. 15214
CHRISTINE R. HOTCHKIN, ESQ., Nevada Bar No. 15568
Attorneys for Respondent GS Capital Partner

https://www.otcmarkets.com/stock/BEGI/disclosure

GLTA BEGI !

Cheers, Red

From Blackstar's latest 10-Q report:
"At an April 22, 2024 hearing, the Plantiff's [GS Capital] motion to dismiss our [Blackstar] counterclaims was denied."
I foresee a short squeeze like scenario playing out.....
Look into the case and form your conclusions.

The question about the company's cash burn for legal and professional fees for Q1 has been answered. Joe continues to get crushed by the lawsuit fees and all of his new borrowing continues to come from friends and associates. Institutional lenders or investors aren't touching this. Legal and professional fees of $363,253 for the three months ended March 31, 2024, an increase of $318,601 from the same period in 2023. The company burned through $210,499 for these services in Q4 2023. Bench trial is scheduled for January 2025. Blackstar could be on the hook for GS Capital legal fees on top of damages. At which time I would think Joe is done because this trading platform narrative is going nowhere.


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.

Interesting item in the Q1. Many like to mock my posts though I provide actual due diligence complete with posts to the information. Since the run in November I had been talking about the share dumping by these lenders and the requirement for the rule 144 holding period as not to attract attention from the SEC by acting as unregistered dealers. My early assumption that these lenders should be observing the holding period was of course in hindsight wrong. What we have known for some time is that they were indeed dumping those shares. See note from page 19 of the Q1 regarding SEC action against the manager of SE Holdings, LLC, and Adar Alef, LLC.

Remember my posts talking about the November 2023, Adar Alef 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? That 62 million shares in November was done while this was on its way to a penny and dumped into the volume. This information was in the annual but we do not see a share increase on the OTC site from September 30th to December 22nd.

Go to the filings leading up to the November run to find that The company issued 591,386,247 to 1800 Diagonal Lending over the course of the first nine months with nearly 487 million of that issued in Q2 and Q3. Then there are the hundreds of millions of shares dumped by GS capital shares at $0.00006, not a typo, $0.00006. What now about this activity. Details with links about these questionable share dumps for Blackstar stock can be found in post# 13885 linked below. I hope they all get hammered but what does this mean as far as the notes held by these lenders if they all have to disgorge their shares and pay the fines.


Bubae
Re: Short Squeeze post# 13884
Monday, May 20, 2024 11:48:41 AM
Post# 13885 of 14155
The SEC has been taking action against these toxic note holders for failure to register as deals for some time. This hasn't discouraged the obscene conversions for this stock. It would appear that these note holders have not been observing the Rule 144, 180 day holding period for unregistered shares. The SEC has been working on Rule 144 holding period amendments for some time. These amendments were to be formalized first in April 2022, then April 2024 and are now scheduled for October 2024. This rule 144 holding period amendment will codify what the SEC has been enforcing since 2022 charging toxic lenders with failing to register as dealers. I however wouldn't hold my breath because these predatory lenders have plenty of money to fund the lobbyists.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm

Page F13
ADAR ALEF, LLC
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.


For the quarterly period ended March 31, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000085/begi-20240331.htm.htm
Page 19
The Company is aware that on January 23, 2024, Aryeh Goldstein, Managing Member of SE Holdings, LLC, individually, and Adar Alef, LLC, also managed by Aryeh Goldstein, as the entity, settled charges with the SEC ordering them, in part, to surrender for cancellation all remaining shares 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 ($550,000), and for the current holdings of Adar Alef, LLC (5,000,000 shares of common stock of BlackStar).

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.

The 10-Q was definitely revealing. And not in a good way.

We are good now. OTCM shows Pink, and removed the grace period. Full steam ahead.

August 14.

What do you mean? The only financial records they needed to be current were for the 10Q for Q1 which were due in May. Or am I missing something here?

When is due date for that?

We still need Q2 fins to be current and escape the expert market. Hope Joe can get it done in time.

The Nevada Supreme Court rejected their request for a stay extension Back in February. Per the ruling "When a contract is clear on its face, it will be construed from the written language and enforced as written." This CEO is spending a small fortune defending this lawsuit. Where is your chatty CEO with the threat of this going to the grey market?

Bubae
Re: gshores post# 13963
Tuesday, June 04, 2024 8:39:11 PM
Post# 13965 of 14147
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."

I'm not worried, CEO Joe K. got the funding to take our case to the NV Supreme Court. The 10-Q was quite revealing. He knows what he's doing, so I'm just sitting back and chilling for now. Joe K. got the company this far, I have faith in his leadership and direction.