Bubae
3 days ago
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.As per the 10k: “The Company plans to offer its Private Funding and Corporate Governance Blockchain to individual private companies in 2024.”Bubae
Re: None
Monday, June 03, 2024 8:54:12 PM
Post# 13961 of 14075
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174537254
Blackstar has been reduced to actively promoting to move the conversions priced as low as $0.00006 a share. It would seem that real investors conduct actual due diligence which is why Blackstar has been unable to attract anything other than penny flipping gamblers for their stock.Bubae
Re: None
Sunday, June 09, 2024 6:29:10 AM
Post# 13991 of 14075
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174568638
Follow the money. While the CEO has been using the infomercials to promote the sales of the obscene debt conversions to OTC retail traders he isn’t attracting any investors. Even the toxic note holders are now taking a pass with one in a lawsuit and two others still owed $584,079 in principle earning 24% interest and have been in default since 2022. The short term notes of the past year have been from those personally known by the CEO but they aren’t buying preferred shares. They got pretty good deals on those nine month notes. 71,250,000 of those shares went restricted before December 31st "...as consideration for entering the note agreements in 2023..."
Bubae
3 days ago
The CEO has put out a series of, I believe, five infomercials since the beginning of the year. The intent is to move the conversions from what I see and yes, it fits the definition of infomercials quite well. They managed a trading high of $0.002 with 119 million in trading volume on March 22nd off an infomercial that really characterized the company's product as a revenue generating idea. But we all know what isn't being disclosed. This really helped G.S. Capital move those lawsuit shares.
Sure, company's sell shares for equity. After the Nevada Supreme Court denied the stay G.S Capital was able to sell their conversions that were requested in November 2023. With the shares issued in December 2022 per the lawsuit update in January and the shares revealed to have been issued for this suit in the annual we get 257,704,832 shares priced at $0.00006 for a whoppping $15,462 of debt relief against the lawsuit note with a principle of of only $33,682. 🙄 G.S Capital was free to sell these shares after February 15th and when we look at the infomercial supported selling activity, G.S. Capital could have easily made $500K or so off that $15,462 in conversions.
We could continue with this line of ridiculous conversions for a stock that went to over a penny in November but no patience here for details. Suffice to say that 698,077,221 shares for conversion of $116,725 principal and interest on convertible notes payable were made the first nine months of 2023 at an average of only $0.00017 a share. The bulk of that was issued in Q2 and Q3 of 20223 leading up to this promotional period. That isn't what I call an efficient use of your ability to raise capital from share sales. More conversions currently in the pipeline and can be done at any time.
I understand and there’s no denying that the stock has been diluted over the past few years, but running the business is not free and as a company with no revenue, how else do you expect them to pay for expenses?
The CEO doesn’t do promos with “infomercials”. As any company must, BEGI must market themselves in order to reach a wider audience which encompasses both potential clients and investors. And marketing is NOT FREE.Bubae
Re: Savannah-Marc post# 13457
Wednesday, May 01, 2024 12:41:56 PM
Post# 13466 of 14074
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174338327&txt2find=Capital%2BDecember%2Bconversions
...According to document 24-03599 from the Nevada Supreme Court website GS Capital had requested 257,701,499 the first half of November and was denied which became the basis for the lawsuit. Then we get the statement in the annual that ...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. According to the text in the note the conversion price of $0.00006 would appear to be correct...
For the quarterly period ended September 30, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594923000100/begi-20230930.htm
Page 10
During the nine months ended September 30, 2023, the Company issued shares of its common stock as follows:
698,077,221 shares for conversion of $116,725 principal and interest on convertible notes payable.
LazyInvestor
3 days ago
I understand and there’s no denying that the stock has been diluted over the past few years, but running the business is not free and as a company with no revenue, how else do you expect them to pay for expenses?
Per the 10k: “The Company used new and existing fundings to maintain operating activities and complete software development and patent filings with the USPTO for its digital trading platform.”
The CEO doesn’t do promos with “infomercials”. As any company must, BEGI must market themselves in order to reach a wider audience which encompasses both potential clients and investors. And marketing is NOT FREE.
As per the 10k: “In 2023, the Company issued, as partial consideration, 25,000,000 shares of its common stock (valued at $100,000) to a media consulting firm for investor relations services under a six-month agreement through May 2024.”
And yes there was a substantial increase in shares added in 2023, but business operations have materialized considerably compared to previous years so you can expect an increase in a need for funding.
As per the 10k: “During 2023 the Company incurred legal fees for litigation and settlement of issues with convertible debt holders which were not incurred in prior years, in addition to recurring costs for SEC regulatory and statutory filings matters.”
All in all, I will say that the CEO needs to find a way to move away from toxic lending. I’m quite confident that the company will be able to start getting companies to subscribe to two of their platforms this year and hopefully start making some money which will be a huge accomplishment.
As per the 10k: “The Company plans to offer its Private Funding and Corporate Governance Blockchain to individual private companies in 2024.”
I am invested in BEGI and while it’s a not all rainbows and sunshine, I do believe that there’s more good than bad with this company and the potential here is definitely worth something!
Bubae
4 days ago
Drill down into the posts below with links to the filings and you will find the dilution that is sitting on the sidelines and the dilution that has been done while this CEO actively promos with the infomercials. Those convertible notes with steep discounts to market are being dumped immediately into the market on conversion.
Bubae
Re: Savannah-Marc post# 13893
Tuesday, May 21, 2024 7:26:52 AM
Post# 13895 of 14072
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174458556
That dilution isn't fake and you don't see any dilution deniers anymore. We know now from the annual report that they were issuing new shares in November though they didn't report the increases with two subsequent share count updates on the OTC site. Everyone complains about the toxic shares dumps buy no one says anything about the CEO personally promoting the sales with the infomercials since the beginning of the year. I guess G.S. Capital needed some help moving the more than 257 million shares with a conversion price of only $0.00006. 🙄 We know that 495,744,512 shares have been added since September 30th 2023.
Bubae
Re: Short Squeeze post# 13808
Monday, May 13, 2024 7:36:24 PM
Post# 13817 of 14072
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174409805
Three conversion possibilities for this period to the end of June when those restricted shares that were issued in Q4 2023 are ready. The Adar Alef and SE Holdings notes total $584,079 in principle earning 24% interest and have been in default since 2022. Those two notes have until the 15th to lock in their conversions at $0.00065 based on 50% discount to market based on conversion language for the past twenty trading days. After which the price has been rising so to does the conversion price. The balance of the GS Capital note plus interest which has a 50% discount to market based on the lowest trading price of the previous twenty days should also be available. Then there is the 52 million restricted that has vested which could be shares from the Form "D" registration filed in May 2023.
Bubae
6 days ago
If Marc didn't have us on ignore, had a bad memory, or is being disingenuous he would have known that the comment was false. 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.
Consider the history of statements;
September 2020
BlackStar will continue to seek further input from various regulatory agencies and OTC Markets on the potential functionality and regulatory aspects of the BDTP™ over the next several months.
March 2023
We anticipate initiating formal discussions with the SEC and its relevant divisions and offices, including the Division of Trading and Markets, within the next six months with respect to seeking the approval or clearance of our shares being eligible to be traded on our BDTP™ platform.
September 2023
At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 3
...The completion of our software platform depends on our ability to license it to an existing Alternative Trading System (“ATS”) or for us to possibly register as an ATS, which we do not intend to do at this time as we would prefer to license our platform to an existing ATS. The platform is not currently operational or in use by anyone. We have recognized net losses of $1,046,983 in the year ended December 31, 2023. We have relied solely on sales of our securities, convertible note financing, and private loans to fund our operations.
Page 5
lackStar Digital Trading Platform TM (“BDTP TM”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP™ has not been approved by any regulatory agency or broker dealer and is not currently operational.)
Page 55
The Company’s success will be dependent upon its ability to analyze and manage the opportunities presented and is contingent upon successfully raising funds and ultimately SEC approval of our digital trading platform.
Page17
BlackStar intends to continue to seek further input from various regulatory agencies and others on the functionality of the BDTP™ over the next several months.
BlackStar's Digital Trading Platform Concept Receives SEC Guidance in Q3 2020
Tuesday, 15 September 2020
https://www.accesswire.com/606154/blackstars-digital-trading-platform-concept-receives-sec-guidance-in-q3-2020
In July 2020, the Company presented the concept to SEC FinHub staff members for regulatory guidance and received the recommendation to apply for Alternative Trading System ("ATS") status.
BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023
https://www.accesswire.com/743761/blackstar-enterprise-group-inc-provides-registration-statement-update
We anticipate initiating formal discussions with the SEC and its relevant divisions and offices, including the Division of Trading and Markets, within the next six months with respect to seeking the approval or clearance of our shares being eligible to be traded on our BDTP™ platform.
...The BDTP™ is not yet functional and may never be functional....
Blockchain First Infrastructure Designed to Enable Public Company Common Shares to Trade as Digital Securities
Monday, 11 September 2023
https://www.accesswire.com/782422/blockchain-first-infrastructure-designed-to-enable-public-company-common-shares-to-trade-as-digital-securities
We currently intend to seek a contractual arrangement such as a license with an existing ATS for a quoting service, similar to the current listing of our common stock with OTC Markets Group. At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS's until we have secured an arrangement that will allow the BDTP™ platform to operate.
Short Squeeze
1 week ago
Yes, if someone holds a patent for a specific method or system for trading equities on a blockchain and believes that brokerage firms are infringing on this patent, there is recourse to sue for patent infringement. Here are the steps and considerations involved:
1. **Assessment of Infringement**: The patent holder should first assess whether the brokerage firms' activities fall within the claims of the patent. This often involves detailed analysis by a patent attorney or a patent expert.
2. **Cease and Desist Letter**: Before initiating litigation, the patent holder typically sends a cease and desist letter to the infringing parties, notifying them of the patent and the alleged infringement. This can sometimes lead to a settlement or licensing agreement without going to court.
3. **Filing a Lawsuit**: If the cease and desist letter does not result in a resolution, the patent holder can file a patent infringement lawsuit in federal court. The lawsuit should detail how the brokerage firms are infringing on the specific claims of the patent.
4. **Court Proceedings**: During the court proceedings, both parties will present evidence and arguments. The court will examine the validity of the patent and whether the brokerage firms' activities infringe on the patent. This can involve expert testimony, technical analysis, and legal arguments.
5. **Possible Outcomes**: If the court finds in favor of the patent holder, possible outcomes include:
- **Injunction**: The court may issue an injunction to stop the infringing activities.
- **Damages**: The court may award monetary damages to compensate for the infringement.
- **Licensing Agreement**: The parties might agree to a licensing deal, allowing the brokerage firms to use the patented technology in exchange for royalties.
6. **Considerations**: It's important to consider the strength of the patent, the specific claims, and the evidence of infringement. Patent litigation can be complex and costly, so a thorough analysis and a well-prepared case are essential.
For more detailed guidance and to explore the specifics of your situation, consulting with a patent attorney who specializes in intellectual property and patent law is highly recommended. They can provide tailored advice and represent you in any legal proceedings.
Bubae
2 weeks ago
We could see some action soon because we aren't certain about when those restricted shares were issued at the end of 2023. Post#13663 linked below shows why we can not trust the information from this period when using the details from the OTC site. I included screen shots for two updates in December which shows zero new shares issued between September 30th and December 22nd. We learned from the annual that shares were issued in November and not added to the two updates. We have 25 million shares issued for the media contract, 71.25 million issued financing fees for loans, and the 56.79 million issued for warrants. The warrants are priced at $0.00062 per share and the other two priced at $0.001 with the balance of the value stated recorded as paid in capital which can be seen on the chart on page F-5 in the annual filing. Who gets to go first! 😆 I bet the CEO will surely be running more infomercials while he coordinates conversions.
Bubae
Re: burner67 post# 13724
Tuesday, May 07, 2024 10:14:24 PM
Post# 13728 of 14039
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174376080
We are looking at a bit more than the 153 million shares that went restricted at the end of 2023 that will be vested by the end of June. That 153 million shares represents the 25 million issued for the media contract, 71.25 million issued financing fees for loans, and the 56.79 million issued for warrants. The first two are priced at $0.001 with the balance being recorded as paid in capital calculated from the share price listed above par. That is $25K towards the media contract and $71,250 towards the financing fees.
Bubae
Re: None
Saturday, May 04, 2024 6:02:41 PM
Post# 13663 of 14039
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174358707&txt2find=OTC%2Bsite
Though I would like to know the actual date that isn't the problem. According to the chart on page 5 of the Q3 filing there were 1,244,572,435 shares outstanding as of September 30th. This is the same number of shares that were listed in the December 12th and December 22nd outstanding share updates on the OTC site. I have kept track of the update since I arrived on this board around November 26th so screen shots below. Why were the November conversions not included in at least the December 12th update and since we know they must have been issued prior to November 16th and why not an earlier update. We don't see a share count increase until January 5th 2024....
For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
Page 46
DESCRIPTION OF SECURITIES
Common Stock
...A total of 1,544,696,448 common shares are issued and outstanding as of December 31, 2023 ...
Page F-11
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....
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