BlackStar Enterprise Group, Inc. Files 2023 Annual Report

TL;DR

<b>BlackStar Enterprise Group, Inc. has filed its 2023 annual report on Form 10-K, detailing its financial status and operations.</b>

AI Summary

BLACKSTAR ENTERPRISE GROUP, INC. (BEGI) filed a Annual Report (10-K) with the SEC on April 15, 2024. BlackStar Enterprise Group, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is registered in Delaware and its principal executive offices are located in Boulder, Colorado. BlackStar Enterprise Group, Inc. is classified under SIC code 6199 (Finance Services). The company has elected not to use the extended transition period for complying with new or revised financial accounting standards. BlackStar Enterprise Group, Inc. is a smaller reporting company and an emerging growth company.

Why It Matters

For investors and stakeholders tracking BLACKSTAR ENTERPRISE GROUP, INC., this filing contains several important signals. This filing provides investors and stakeholders with a comprehensive overview of the company's performance and financial health for the fiscal year 2023. As a smaller reporting and emerging growth company, this 10-K filing is crucial for understanding its regulatory compliance and future reporting strategies.

Risk Assessment

Risk Level: low — BLACKSTAR ENTERPRISE GROUP, INC. shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Monitor future filings for updates on financial performance and strategic initiatives following this annual report.

Key Numbers

• 2023 — Fiscal Year End (Fiscal year ended December 31, 2023)
• 2024-04-15 — Filing Date (Filed as of date)
• 6199 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• BLACKSTAR ENTERPRISE GROUP, INC. (company) — Filer name
• 20231231 (date) — Fiscal year end
• 20240415 (date) — Filing date
• 6199 (industry_code) — Standard Industrial Classification
• 4450 ARAPAHOE AVE., SUITE 100 (address) — Business address
• Boulder (location) — Business address city
• CO (location) — Business address state
• 303-500-3210 (phone) — Business phone

FAQ

Industry Context

The company operates within the Finance Services sector, specifically classified under SIC code 6199.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring annual reports from public companies.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's classification within SIC 6199 for industry context.
3. Track future SEC filings for any material changes or updates.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the annual financial statements.
• 2024-04-15: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023, following previous filings.

Key Financial Figures

• $0.0004 — which the common equity was last sold ($0.0004), as of the last business day of the re
• $0.001 — here were 1,740,316,947 common shares, $0.001 par value, issued and outstanding. TAB
• $1,046,983 — nyone. We have recognized net losses of $1,046,983 in the year ended December 31, 2023. We
• $1,235,000,000 — JOBS Act") as we did not have more than $1,235,000,000 in annual gross revenue and did not hav
• $1,819,530 — t success, resulting in losses totaling $1,819,530 over a three-year period. Our Company w
• $1 million — ial situations. We seek to invest up to $1 million per company in business ventures. We ma

Filing Documents

• begi-20231231.htm (10-K) — 1297KB
• ex21.htm (EX-21) — 1KB
• ex31_1.htm (EX-31.1) — 7KB
• ex31_2.htm (EX-31.2) — 7KB
• ex32_1.htm (EX-32.1) — 4KB
• ex32_2.htm (EX-32.2) — 5KB
• image_001.jpg (GRAPHIC) — 84KB
• 0001065949-24-000044.txt (&nbsp;) — 5320KB
• begi-20231231.xsd (EX-101.SCH) — 56KB
• begi-20231231_cal.xml (EX-101.CAL) — 20KB
• begi-20231231_def.xml (EX-101.DEF) — 208KB
• begi-20231231_lab.xml (EX-101.LAB) — 406KB
• begi-20231231_pre.xml (EX-101.PRE) — 201KB
• begi-20231231_htm.xml (XML) — 426KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 54 Item 7A .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 58 Item 8 .

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 58 Item 9 . Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 59 Item 9A .

Controls and Procedures

Controls and Procedures. 59 Item 9B . Other Information. 60 Item 9C . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 60 Item 10 . Directors, Executive Officers and Corporate Governance. 61 Item 11 .

Executive Compensation

Executive Compensation. 64 Item 12 .

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 67 Item 13 . Certain Relationships and Related Transactions, and Director Independence. 70 Item 14 . Principal Accountant Fees and Services. 70 Item 15 . Exhibits, Financial Statement Schedules. 71 Item 16 . Form 10-K Summary 72

SIGNATURES

SIGNATURES 73 2 Table of Contents PART I

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Form 10-K contains forward-looking statements. Forward-looking statements are projections of events, revenues, income, future economic performance or management's plans and objectives for our future operations. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled "Risk Factors" and the risks set out below, any of which may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks include, by way of example and not in limitation: the uncertainty of profitability based upon our history of losses; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms to continue as going concern; risks related to our operations and other risks and uncertainties related to our business plan and business strategy. This list is not an exhaustive list of the factors that may affect any of our forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on our forward-looking statements. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made, and we undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future resu

forward-looking statements to conform these statements to actual results

forward-looking statements to conform these statements to actual results. Our financial statements are stated in United to "common stock" refer to the common shares in our capital stock.

BUSINESS

ITEM 1. BUSINESS. GENERAL The following is a summary of some of the information contained in this document. Unless the context requires otherwise, references in this document to "our Company," "us," "we," "our," "BlackStar," or the "Company" are to BlackStar Enterprise Group, Inc. DESCRIPTION OF BUSINESS We are based in Boulder, Colorado and are engaged in Merchant Banking and Finance in the United States. Since 2018 we have also been developing a blockchain-based software platform to trade electronic fungible shares of our common stock. Once completed, the platform design might enable us to license the technology as a Platform as a Service ("PaaS") for other publicly traded companies, providing revenue to finance our merchant banking. 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. 3 Table of Contents The Company intends to raise additional funds in order to fund operations of the merchant bank, and to expand its services into the blockchain industry. To fund ongoing operations, we may raise funds in the future, which are not yet committed. Reports to Security Holders We are subject to the reporting requirements of Section 12(g) of the Exchange Act, and as such, we intend to file all required disclosures. You may read and copy any materials we file with the SEC in the SEC's Public Reference Section, Room 1580, 100 F Street N.E., Washington, D.C. 20549. You may obtain information on the operation of the Public Reference Section by calling the SEC at 1-800-SEC-0330. Addi

View Full Filing

View this 10-K filing on SEC EDGAR