Blockchain Technology Company BlackStar Secures Institutional Investor for Debt Repayment, Seeks Valuation and Eyes Revenue Possibilities Through IP Licensing

Rhea-AI Summary

BlackStar Enterprise Group (OTC Pink:BEGI) has secured an agreement to retire $861,539.26 of debt through a transaction with Continuation Capital Inc (CCI) under Securities Act 3(a)(10). Over 90% of the company's short-term liabilities are being renegotiated or paid. The company plans to pursue patent valuation and implement a licensing strategy, particularly focusing on their intellectual property portfolio covering regulated registered equity and securities traded on blockchain through Broker-Dealers. Management views the recent SEC registration of Crypto Currency Assets secured by ETFs as a positive signal for digital assets trading on blockchain.

Positive

• Secured agreement to retire $861,539.26 of debt
• Renegotiation or payment of over 90% of short-term liabilities
• Partnership with institutional investor strengthening balance sheet

Negative

• Significant existing debt requiring restructuring
• Potential share dilution from debt settlement agreement

BOULDER, CO / ACCESSWIRE / November 5, 2024 / BlackStar Enterprises Group, Inc. ("Blackstar") (OTC Pink:BEGI), ("the Company"). BlackStar entered into an agreement to retire $861,539.26 of debt ("the Settlement Amount") in a transaction pursuant to 3(a)(10) of the Securities Act. Continuation Capital, Inc. ("CCI"), a Delaware corporation, purchased the obligations from certain vendors of the Company, which consist of accounts payable due from the Company.

Mr. Kurczodyna states that over 90% of the Company's short-term liabilities are being renegotiated or paid. He said BlackStar's relationship with an institutional investor, CCI, strengthens the Company's balance sheet, shows a level of confidence from the Street, and prepares the company for future funding.

Mr. Kurczodyna also stated that the next step for the Company is a valuation of our patents and a licensing strategy. He believes that the recent SEC registration of Crypto Currency Assets secured by Exchanged Traded Funds sends a clear signal to the Investment Banking world that digital assets trading on blockchain will trade through Brokers as Spot Market ETFs. BlackStar's intellectual property portfolio covers all regulated registered equity, and all forms of securities traded on blockchain through Broker-Dealers.

Other Info: BlackStar Enterprise Group, Inc. (OTC: BEGI)

WEBSITE: blackstareg.com
EMAIL: info@blackstareg.com

CONTACT

Bryan P Hemphill….559-359-1480

http://www.blackstareg.com/investor-relations/

More information can be found in the Company's recently filings at the SEC web site: https://www.sec.gov/cgi-bin/browse-edgar?company=BlackStar+Enterprise&match=&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany.

SEC Disclaimer

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. This press release may contain forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in BlackStar's ("the Company's") business plan. The creation of subsidiaries and expansion of services into new sectors should not be construed as an indication in any way whatsoever of the future value of the Company's common stock or its present or future financial condition. The Company's filings may be accessed at 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 as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

SOURCE: BlackStar Enterprise Group, Inc.

View the original press release on accesswire.com

FAQ

How much debt is BlackStar Enterprise Group (BEGI) retiring through the new agreement?

BlackStar Enterprise Group (BEGI) is retiring $861,539.26 of debt through an agreement with Continuation Capital Inc. under Securities Act 3(a)(10).

What percentage of BlackStar Enterprise Group's (BEGI) short-term liabilities are being addressed?

Over 90% of BlackStar Enterprise Group's (BEGI) short-term liabilities are being renegotiated or paid.

What is BlackStar Enterprise Group's (BEGI) focus regarding their intellectual property?

BlackStar Enterprise Group (BEGI) is pursuing patent valuation and a licensing strategy, with their IP portfolio covering regulated registered equity and securities traded on blockchain through Broker-Dealers.