Blackstar Enterprise Group launches $1.58M stock offering
BOULDER — Blockchain firm Blackstar Enterprise Group Inc. (OTCQB: BEGI) has launched a $1.58 million stock offering, according to a registration statement filed Monday with the U.S. Securities and Exchange Commission.
Blackstar will raise the funds by selling 46 million shares of common stock at a price of 3 cents per share.
Blackstar is developing the Blackstar Digital Trading Platform, a peer-to-peer digital equity trading platform based on the blockchain. The platform is intended to be licensed to public companies whose stock is traded over-the-counter.
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Companies that license the platform would have a customizable interface that allows 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 the information stored in the blockchain. According to its website, Blackstar hopes that this increased transparency will mitigate many of the risks of investing in OTC stocks and restore investor confidence in trading shares of OTC companies.