BlackStar Enterprise Group clarifies a news article dated August 1, 2022 from BizWest Media with the following statement
BOULDER, Col., August 8, 2022 /PRNewswire/ — BlackStar Enterprise Group, Inc. (OTC Pinks: BEGI) (the “Company” or “BlackStar”) amended its registration statement on Monday, August 1, 2022, with the United States Securities and Exchange Commission. BlackStar intends to repay its debt by registering 46 million shares of common stock at a price to be determined. Registered shares are the underlying convertible bonds and are registered for resale by listed bondholders; they are not offered for sale to the public, as noted in the news article published by BizWest Media and Colorado Daily on August 1, 2022. BlackStar has at no time been contacted by the media for review or input and has no connection, financial or otherwise, with the author of the article, the publications or the media companies.
Joseph E. KurczodynaBlackStar’s Chief Financial Officer, said “BlackStar filed for registration in July 2021, but management believes that one of the reasons for the delay in its effectiveness is the complexity of describing the business concept involving a new trading platform using blockchain and its compatibility to operate within the broker ecosystem. Management believes that the platform concept will be consistent with existing back-office operations after registration becomes effective. Management intends to focus its efforts on finding an alternative trading system, broker or exchange to host and list our platform. »
BlackStar develops the BlackStar digital trading platform MT, a blockchain-based fungible e-equities peer-to-peer digital trading platform. The platform is intended to be licensed to public companies whose shares are traded over-the-counter. Companies that license the platform would have a customizable interface allowing them to issue securities and facilitate public and private offerings. All transactions, customer data, and corporate governance information would be recorded immutably on an Amazon Web Services-based blockchain. The Securities and Exchange Commission and the Financial Industry Regulatory Authority would have full access to all information stored on the blockchain. BlackStar hopes this increased transparency will mitigate many of the risks associated with investing in stocks listed on OTC markets and restore investor confidence in trading OTC company stocks.
The registration statement is still under review by the SEC and there may be additional comments from the SEC that require revisions. The registration statement has not been declared effective.
More information can be found in the company’s recently filed documents on the SEC website: https://www.sec.gov/cgi-bin/browse-edgar?company=BlackStar+Enterprise&match=&filenum=&State =&Country=&SIC=&myowner=exclude&action=getcompany
BlackStar Enterprise Group, Inc. (OTC: BEGI)
E-MAIL: [email protected]
FACEBOOK: BlackStar Enterprise Group Inc-BEGI
This press release contains forward-looking statements. The words or expressions “would”, “will”, “intend”, “will probably”, “should”, “will continue”, “is planned”, “estimate”, “plan” or similar expressions are intended to identify “forward-looking statements”. Actual results could differ materially from those projected in BlackStar’s (“the Company”) business plan. The establishment of subsidiaries and the expansion of services into new areas should not be construed as indicating in any way the future value of the Company’s common stock or its present or future financial condition. Company filings may be viewed on the SEC’s Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon at any later date. The Company cautions readers not to rely on these statements. Except as otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update forward-looking statements to reflect unforeseen events, developments, events or circumstances after the date of this statement.
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SOURCEBlackStar Enterprise Group, Inc.