---
schema_version: "secwatch.filing_event.v1"
accession: "0001065949-24-000023"
form_type: "8-K"
ticker: null
cik: "0001483646"
company_name: "BLACKSTAR ENTERPRISE GROUP, INC."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T22:59:21.384037+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# BlackStar files counterclaims in Nev. lawsuit; plaintiff seeks 257M share conversion

## Summary
- On Feb 27, 2024, BlackStar filed answer and counterclaims against plaintiff GS Capital Partners in Nevada lawsuit.
- Plaintiff seeks specific performance to convert ~257,000,000 shares on a note with remaining principal of $33,682.
- Company alleges plaintiff recovered ~$600,000 in stock on a $60,000 note (170% effective interest) in violation of usury laws.
- Risks include need to increase authorized shares to accommodate conversions and negative impact on financial position.
- Litigation increases financial and administrative burdens and exposes company to further lawsuits.

## SEC filing metadata
- accession: 0001065949-24-000023
- form_type: 8-K
- cik: 0001483646
- company_name: BLACKSTAR ENTERPRISE GROUP, INC.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1483646/000106594924000023/0001065949-24-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1483646/000106594924000023/blackstarmarch2024v2.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001065949-24-000023
- JSON: https://secwatch.observer/filing/0001065949-24-000023.json
- Plain text: https://secwatch.observer/filing/0001065949-24-000023.txt

## Key facts
- Debt Financings
  BLACKSTAR ENTERPRISE GROUP, INC. reported a default on convertible notes of remaining principal balance of $33,682 with GS Capital Partners LLC at roughly 170% interest rate.
  - Instrument: convertible notes
  - Principal: remaining principal balance of $33,682
  - Counterparty: GS Capital Partners LLC
  - Rate: roughly 170% interest rate
  - Event: default
  source text: of shares to convert against the remaining principal and interest on a Promissory Note entered into on October 11, 2021, which had a remaining principal balance of $33,682. At the outset of the case, a temporary restraining order was entered preventing the Company from trading any shares. As currently postured, Plaintiff seeks specific performance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1483646/000106594924000023/0001065949-24-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.