BlackStar Enterprise Group Inc (PK) (BEGI) Quote

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.

Do you know you can't buy when this hits expert market? Unless they submit every back set of fins in the next week or so, that is where we are headed.

I dedicated a specific amount of money toward buying more BEGI shares for a period of several months to keep the price where I desired it. I accomplished my goal. Currently, if events change, then I may be expanding my position. Right now, I own a significant amount of shares and I am comfortable and confident in my position.

Savannah-Marc 05/15/24 1:20 PM
I bought this back up with BLNK profits, so to my fellow Blackstar shareholders, you're welcome. I took a decent position in OKLO when it crashed last week and now I will be riding it up. I have a cash war chest built up and I will be devoting some of that to strategically buying BEGI. I will not let this go back into the teens. Good luck! 🤣🤣🤣

You say that alllll the time Marc. None of your predictions come true. But you should keep buying on these dips. BTW, did you read the 10-Q? Did ya?

At this point most people know there's nothing to fear missing out on. Sinking ship.

It's coming

FOMO starts soon!!!

Fake ask. Slap it to see what happens!

More borrowing from unrelated individuals. One person lent them $14,000. Seems dire.

Do you know what the best part of Blackstar's 10-Q report that they filed today is.....the part where it says:
"At an April 22, 2024 hearing, the Plantiff's motion to dismiss our counterclaims was denied."
WE HAVE A CASE!!!!!!!!!!

10 - q posed 3 hours ago.

NEVADA SUPREME COURT CASE!!!!

I think much of Blackstar's resources are focused on the case that they just filed on July 8th with the Nevada Supreme Court. Manipulation and arbitrage of BEGI will start heating up as the case progresses. I think Blackstar will win or GS Capitol will settle before a verdict. If someone else believes this too, then they may front run GS Capitol and start buying shares in expectation of GS Capitol becoming a guaranteed buyer! A short squeeze like scenario could take place. Just look it all up. I'm sure a paid basher will step in and try to tear my theory down. Stay well my fellow Blackstar investors.....and follow the court case, it may be "enriching".

Could be that the audit is a bit of a problem since the last accounting firm violated rules and is banned "...appearing or practicing before the SEC" . Speculating doesn't answer the more troubling question. That being, why has the CEO not commented? They have had a new accounting firm since June 3rd according to the latest 8K filing. Could they not a least roll out the Q1? This is beginning to smell more than usual. 😆

Form 8K
Date of report (Date of earliest event reported): May 3, 2024

On May 3, 2024, the Board of Directors of Blackstar Enterprise Group, Inc. (the “Company”) approved the dismissal of BF Borgers CPA PC (“BF Borgers”) as the Company’s independent registered public accounting firm. On May 3, 2024, the Securities and Exchange Commission (the “SEC”) announced that it had settled charges against Borgers that it failed to conduct audits in accordance with the standards of the Public Company Accounting Oversight Board (the “PCAOB”). As part of the settlement, Borgers agreed to a permanent ban on appearing or practicing before the SEC. As a result of Borgers’ settlement with the SEC, the Company dismissed Borgers as its independent accountant.

I just noticed it over the weekend. We may get slammed because of the change in accounting. They haven't filed fins yet this year.

He might be working on the audit

That was my question when the posted it on the OTC site. They should have included a date for when it was issued. My guess would be at the end of Q2. The grace period is only good for 15 days then they get dropped to the grey market. The bigger question for me is why the CEO, who has been very chatty with videos and press releases since the beginning of the year, not commented.

Grey Market
Grey Market, "OTC" or "Other OTC" is a security that is not currently traded on the OTCQX, OTCQB or Pink markets. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance.

When Grace period is expired?

So it looks like we are headed to the expert market after the grace period expires.

If the 180 days started at the beginning of the year where as now they need to file for two quarters. Did the grace period start at the end of June? I'm thinking Joe owes shareholders an explanation other than the 8K that his previous accounting firm got busted by the SEC. Joe was pretty chatty up until the past couple of months. He has had a month since hiring the new accounting firm to get the Q1 out.


FORM 8K Date of report (Date of earliest event reported): May 3, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000058/blackstarauditor8k.htm

Item 4.01 Changes in Registrant’s Certifying Accountant

On May 3, 2024, the Board of Directors of Blackstar Enterprise Group, Inc. (the “Company”) approved the dismissal of BF Borgers CPA PC (“BF Borgers”) as the Company’s independent registered public accounting firm. On May 3, 2024, the Securities and Exchange Commission (the “SEC”) announced that it had settled charges against Borgers that it failed to conduct audits in accordance with the standards of the Public Company Accounting Oversight Board (the “PCAOB”). As part of the settlement, Borgers agreed to a permanent ban on appearing or practicing before the SEC. As a result of Borgers’ settlement with the SEC, the Company dismissed Borgers as its independent accountant.


FORM 8K Date of report (Date of earliest event reported): June 3, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000082/blackstar8kjune62024.htm

Item 4.01 Changes in Registrant’s Certifying Accountant

On June 3, 2024, the Board of Directors of Blackstar Enterprise Group, Inc. (the “Company”) approved the appointment of Fruci & Associates II, PLLC (“Fruci”) as the Company’s new independent registered public accounting firm, effective immediately, to perform independent review and audit services for the fiscal years ending December 31, 2024, effective immediately, including a reaudit of the fiscal years ending December 31, 2022 and 2023, following the dismissal of BF Borgers CPA PC (“BF Borgers”) as the Company’s independent registered public accounting firm. During the Company’s two most recent fiscal years ended December 31, 2023 and 2022,

Looks like the OTC market people aren't messing around. I was thinking six months from the missed filing date but the "Grace Period" moniker has been attached to the ticker. This appears to be new unless I have overlooked it in recent days.

OTC Markets Blackstar
https://www.otcmarkets.com/stock/BEGI/security

Grace Period

Securities enter a Grace Period when OTC Markets Group is no longer able to confirm that the issuer’s disclosure is current and publicly available as required under Rule 15c2-11. When a security enters a Grace Period, it can continue to be publicly quoted for 15 days. At the end of the 15-day Grace Period, if the required disclosure is not available, the security will move to the Expert Market for unsolicited quoting only, unless OTC Markets Group determines another exception under Rule 15c2-11 applies, such as the Large Company/ADTV exception.

Your guess is as good as mine...No clue.

Don't know what to make of the trading moondog. On the one hand I'm expecting Joe to break out the new promotions to move those vested restricted shares and wonder if there is a flip in it. On the other hand the media contract expired at the end of May and it doesn't look as if they have been paid. The media company got a partial payment of $25K priced at $0.001 in registered shares that they need to sell now. To get paid more on the contract they will need to wait another six months for the shares to vest. Sort of makes me wonder how desperate the media company is for business that they would take that kind of payment. Maybe they don't read filings either. So can Joe afford any more promotion is the question. Maybe the SEC has finally found the scent of this promotion and dump scheme.

Pretty fortuitous for their old accounting firm shut down by the SEC. They have six months from the missed Q1 before real consequences for not reporting kicks in. I'm looking forward to see how much more cash they have burned on this lawsuit and how much more friends and associated needed to lend to cover it. This story isn't attracting any real investors and the old lenders aren't interested anymore either. Meanwhile the restricted shares issued to cover the partial payment for the promotional media work and the fee shares issued to service the notes needs to be converted. So they have more shares now needs to go restricted to cover more of the media services bill and the extensions on some of the extended notes. More for who knows what else because we haven't the filings.


Bubae
Re: ericdude post# 13784
Sunday, May 12, 2024 8:55:38 PM
Post# 13788 of 13847
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174403108
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.

Just stopping in to check on you..u ok? need anything? let me know.

And still no first quarter financials?

Hey, Joe must have read my post from yesterday about the outstanding share count. New update on the OTC site this morning back dated to June 28th showing a zero increase. I don't know why he always back dates. 🙄 Now understand they have not reported their dilution in updates before so there is that. Post# 13663 linked below for details.


Bubae
Re: None
Saturday, May 04, 2024 6:02:41 PM
Post# 13663 of 14120
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174358707&txt2find=OTC%2Bsite
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.

Hey, Friends and associates are the only funders of this in the past year. Did you get cut in? 😆 They got some sweet deals if Joe can move the shares.


Bubae
Re: LazyInvestor post# 14074
Saturday, June 22, 2024 1:12:22 PM
Post# 14076 of 14119
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.

The last OS update was done on June 27th and back dated to the 21st and hasn't changed. The registered shares that were issued at the end of 2023 between the OS update December 22nd and December 31st are vested. Looking at the chart could it be that those shares are being quietly dumped without the benefit of promotion? That wouldn't be the Joe we know. 😆 Maybe the SEC has finally found the scent of this highly promoted scheme and false story. 15 isn't support in y opinion, The conversion from the registered shares were mostly at $0.001. They are doing well if they can manage an average above that.


Bubae
Re: burner67 post# 13724
Tuesday, May 07, 2024 10:14:24 PM
Post# 13728 of 13814
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.

IN THE SUPREME COURT OF THE STATE OF NEVADA
No:2 87943
FILED
JUL 08 2024
EL RROV-N
CLERK OF PREME COURT
BLACKSTAR ENTERPRISE GROUP,
INC., A DELAWARE LIMITED
LIABILITY COMPANY,
Appellant,
vs.
GS CAPITAL PARTNERS LLC, A
NEVADA LIMITED LIABILITY
COMPANY,
Res • ondent.
ORDER GRANTING TELEPHONIC EXTENSION
Pursuant to a telephonic request received on July 8, 2024,
appellant shall have until July 23, 2024, to file and serve the opening brief
and appendix. See NRAP 26(b)(1)(B).
It is so ORDERED.
CLERK OF THE SUPREME COURT
ELIZABETH A. BROWN
cc: Haynes and Boone, LLP / Denver
Brownstein Hyatt Farber Schreck, LLP/Las Vegas
Lewis Roca Rothgerber Christie LLP/Reno
Lewis Roca Rothgerber Christie LLP/Las Vegas
2 6

Friends and family deal? Ok cool.

Yes Sir, friends and family deal..when it was Blackstar Energy. It's been a long haul and have no choice but to hold on to those initial restricted shares and hope something miraculous happens. However I did buy a lot of shares when the price dipped to .0001

17 years?

Well stated Marc, I've been in it since conception, 2007...can't pull out now.

Tell everyone to read the articles and watch the videos but nothing about the filings? Anyone presenting what is in the filings is of course a basher. The filings betray everything this CEO has personally been promoting while these predatory lenders bank many hundreds of thousands converting relatively little debt. Yes, we all know new promos are coming and that the 153 million in registered shares are now ready to convert. The May 8K and press release announced that they received a notice trading platform now "...covers trading of both registered and unregistered securities on a blockchain..." The press release indicated receiving the added patent in June so expect yet another promo on this. What you likely won't hear about is that the trading platform is not allowed to operate and has been the case for years.

FORM 8K May 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000067/blackstar8kmay142024.htm

May Press Release
https://www.sec.gov/Archives/edgar/data/1483646/000106594924000067/ex99.htm

When this patent issues in due course through the USPTO, anticipated in June 2024, BlackStar will have three patents issued that cover blockchain technology as applied to the traditional Broker Dealer Eco System.

Bubae
Re: burner67 post# 13724
Tuesday, May 07, 2024 10:14:24 PM
Post# 13728 of 13814
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.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....

The problem Marc is that you continuously make predictions that don't come true. From 'BEGI will blast off very soon' to saying all your buying has kept it out of the teens and it won't go back. There are many more that would be fun to paste here but there's no need. Everyone knows your predictions are based on 'hope', which is not the way to put a value on a stock.