**UNITEDSTATES**

**SECURITIESAND EXCHANGE COMMISSION**

**Washington,D.C. 20549**

 

**FORM 10-K**

 

(Mark One)

 

| /x/ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT OF 1934

For the fiscal year ended **December 31, 2016** |
|-----|----------------------------------------------------------------------------------------------------------------------------------------|

 

or

 

| /_/ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE  SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________to _____________ |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

 

**000-55730**

Commissionfile number

 

 

| **BlackStar  Enterprise Group, Inc.**                   |
|---------------------------------------------------------|
| (Exact  name of registrant as specified in its charter) |
|                                                    |

| **Delaware** | **27-1120628**

State or  other jurisdiction of incorporation or organization 

(I.R.S.  Employer Identification No.)
                  

**4450  Arapahoe Ave., Suite 100**

**Boulder,  CO**

**80303**

(Address  of principal executive offices) 

(Zip Code)

 

 

**(303) 500-5073**

Registrant'stelephone number, including area code

 

 

Securitiesregistered pursuant to Section 12(b) of the Act:

 

**Common**

Title ofeach class

Indicate by check mark if the registrant is a well-known seasonedissuer, as defined in Rule 405 of the Securities Act. /_/Yes   /x/ No

Indicate by check mark if the registrant is not required to filereports pursuant to Section 13 or Section 15(d) of the Act. /_/Yes   /x/ No

Indicate by check mark whether the registrant (1) has filed allreports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. /x/ Yes  /_/ No

Indicate by check mark whether the registrant has submittedelectronically and posted on its corporate Web site, if any, every InteractiveData File required to be submitted and posted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (orfor such shorter period that the registrant was required to submit and postsuch files). /_/Yes   /x/ No

Indicate by check mark if disclosure of delinquent filers pursuantto Item 405 of Regulation S-K (§ 229.405 of this chapter) is not containedherein, and will not be contained, to the best of registrant's knowledge, indefinitive proxy or information statements incorporated by reference in PartIII of this Form 10-K or any amendment to this Form 10-K./ x/

Indicate by check mark whether the registrant is a largeaccelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See the definitions of "large accelerated filer,""accelerated filer" and "smaller reporting company" in Rule 12b-2 of theExchange Act. 

Large accelerated filer

/_/

Accelerated filer

/_/

Non-accelerated filer

/_/

Smaller reporting company

/x/

(Do not check if a smaller reporting company) 

Indicate by check mark whether the registrant is a shell company(as defined in Rule 12b-2 of the Act). /_/ Yes   /x/ No

The aggregate market value of our common shares of voting stockheld by non-affiliates of our Company at December 31, 2016, computed byreference to the price at which the common equity was last sold ($0.55), as ofthe last business day of the registrant's most recently completed first fiscalquarter (March 31, 2017), was $6,283,750.

As of April 14, 2017 there were 55,825,000 common shares, $.001 parvalue, issued and outstanding.

**TABLE OFCONTENTS**

Item 1.

Business.

4

Item 1A.

Risk Factors.

18

Item 1B.

Unresolved Staff Comments.

31

Item 2.

Properties.

31

Item 3.

Legal Proceedings.

31

Item 4.

Mine Safety Disclosure.

31

Item 5.

Market for Registrant's Common Equity, Related Stockholder  Matters and Issuer Purchases of Equity Securities.

32

Item 6.

Selected Financial Data

35

Item 7.

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

35

Item 7A.

Quantitative and Qualitative Disclosures About Market Risk.

38

Item 8.

Financial Statements and Supplementary Data.

39

Item 9.

Changes in and Disagreements With Accountants on Accounting and  Financial Disclosure.

40

Item 9A.

Controls and Procedures.

40

Item 9B.

Other Information.

40

Item 10.

Directors, Executive Officers and Corporate Governance.

41

Item 11. 

Executive Compensation.

44

Item 12. 

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

46

Item 13.

Certain Relationships and Related Transactions, and Director  Independence.

50

Item 14.

Principal Accounting Fees and Services.

51

Item 15.

Exhibits, Financial Statement Schedules.

52

SIGNATURES

53

**PART I**

**FORWARD LOOKING STATEMENTS**

This form 10-K contains forward-looking statements.Forward-looking statements are projections of events, revenues, income, futureeconomic performance or management's plans and objectives for our futureoperations. In some cases, you can identify forward-looking statements byterminology such as "may", "should", "expects", "plans", "anticipates","believes", "estimates", "predicts", "potential" or "continue" or the negativeof these terms or other comparable terminology. These statements are onlypredictions and involve known and unknown risks, uncertainties and otherfactors, including the risks in the section entitled "Risk Factors" and therisks set out below, any of which may cause our or our industry's actualresults, levels of activity, performance or achievements to be materiallydifferent from any future results, levels of activity, performance orachievements expressed or implied by these forward-looking statements. Theserisks 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 affectany of our forward-looking statements. These and other factors should beconsidered carefully and readers should not place undue reliance on ourforward-looking statements. Forward looking statements are made based onmanagement's beliefs, estimates and opinions on the date the statements aremade and we undertake no obligation to update forward-looking statements ifthese beliefs, estimates and opinions or other circumstances should change.Although we believe that the expectations reflected in the forward-lookingstatements are reasonable, we cannot guarantee future results, levels ofactivity, performance or achievements. Except as required by applicable law,including the securities laws of the United States, we do not intend to updateany of the forward-looking statements to conform these statements to actualresults.

Our financial statements are stated in United States dollars (US$)and are prepared in accordance with United States Generally Accepted AccountingPrinciples. All references to "common stock" refer to the common shares in ourcapital stock.

**ITEM 1. BUSINESS.**

GENERAL

The following is a summary of some of the information contained inthis document. Unless the context requires otherwise, references in this documentto "our Company," "us," "we," "our," "BlackStar," or the "Company" are toBlackStar Enterprise Group, Inc.

DESCRIPTION OF BUSINESS 

BlackStarEnterprise Group, Inc. is filing this Form 10 on a voluntary basis in order tobecome a 12(g) registered company under the Securities Exchange Act of 1934.Sixty 60 days after the filing of this registration statement it will becomeeffective and we will be automatically subject to future reporting obligations.As of the date of this registration statement, we are engaged in MerchantBanking and Finance and we have recognized net losses of ($1,154,285) sinceJanuary 1, 2016 through December 31, 2016. We have relied solely on sales of oursecurities to fund our operations. To execute our business plan, our parentcompany, International Hedge Group, Inc., through a Securities PurchaseAgreement dated January 25, 2016, acquired 95% of the common stock and the ClassA Super 

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Majority Voting Preferred Stock, 1,000,000 shares, of our Company funded for$100,000 in August 2016 and funded for an additional $250,000 in October 2016for working capital. To fund ongoing operations, we may raise funds in thefuture, which are not yet committed.

**Reportsto Security Holders**

We aresubject to the reporting requirements of Section 12(g) of the Exchange Act, andas such, we intend to file all required disclosures.

You mayread and copy any materials we file with the SEC in the SEC's Public ReferenceSection, Room 1580, 100 F Street N.E., Washington, D.C. 20549. You may obtaininformation on the operation of the Public Reference Section by calling the SECat 1-800-SEC-0330. Additionally, the SEC maintains an Internet site thatcontains reports, proxy and information statements, and other informationregarding issuers that file electronically with the SEC, which can be found athttp://www.sec.gov.

**JumpstartOur Business Startups Act**

Wequalify as an "emerging growth company" as defined in Section 101 of theJumpstart our Business Startups Act ("JOBS Act") as we did not have more than$1,000,000,000 in annual gross revenue and did not have such amount as ofDecember 31, 2016, our last fiscal year.

We maylose our status as an emerging growth company on the last day of our fiscalyear during which (i) our annual gross revenue exceeds $1,000,000,000 or (ii)we issue more than $1,000,000,000 in non-convertible debt in a three-yearperiod. We will lose our status as an emerging growth company if at any time weare deemed to be a large accelerated filer. We will lose our status as anemerging growth company on the last day of our fiscal year following the fifthanniversary of the date of the first sale of common equity securities pursuantto an effective registration statement.

As anemerging growth company, we may take advantage of specified reduced reportingand other burdens that are otherwise applicable to generally reportingcompanies. These provisions include:

-

A  requirement to have only two years of audited financial statement and only  two years of related Management Discussion and Analysis Disclosures:

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Reduced  disclosure about the emerging growth company's executive compensation  arrangements; and 

-

No  non-binding advisory votes on executive compensation or golden parachute  arrangements. 

As anemerging growth company, we are exempt from Section 404(b) of theSarbanes-Oxley Act of 2002 and Section 14A(a) and (b) of the SecuritiesExchange Act of 1934. Such sections are provided below:

Section404(b) of the Sarbanes-Oxley Act of 2002 requires a public company's auditor toattest to, and report on, management's assessment of its internal controls.

Sections14A(a) and (b) of the Securities and Exchange Act, implemented by Section 951of the Dodd-Frank Act, require companies to hold shareholder advisory votes onexecutive compensation and golden parachute compensation.

We havealready taken advantage of these reduced reporting burdens in this registrationstatement, which are also available to us as a smaller reporting company asdefined under Rule 12b-2 of the Securities Exchange Act of 1934, as amended(the "Exchange Act").

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As longas we qualify as an emerging growth company, we will not be required to complywith the requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002 andSection 14A(a) and (b) of the Securities Exchange Act of 1934.

Inaddition, Section 107 of the JOBS Act also provides that an emerging growthcompany can take advantage of the extended transition period provided inSection 7(a)(2)(B) of the Securities Act of 1933, as amended (the "SecuritiesAct") for complying with new or revised accounting standards.  We arechoosing to irrevocably opt out of the extended transition period for complyingwith new or revised accounting standards under Section 102(b)(2) of the JOBSAct.  

**HISTORY**

OurCompany, BlackStar Enterprise Group, Inc. ("BlackStar Enterprise," "We," or the"Company") was originally formed on December 17, 2007 as NPI08, Inc. in theState of Delaware. Our name was changed in 2010 to BlackStar Energy Group, Inc.In August of 2016, our name was changed to BlackStar Enterprise Group, Inc.

OurCompany was divested from Kingsley Capital, Inc. in a bankruptcy proceeding in2008 in which Kingsley was the debtor. Our Company attempted to start up in theenergy business in 2010 without success, resulting in losses totaling$1,819,530 over a three-year period. Our Company was inactive until 2016 whennew management and capital were introduced.

BlackStarEnterprise Group, Inc. is engaged in Merchant Banking and Finance. BlackStarEnterprise's venue is private early stage companies throughout variousindustries that exhibit a potential for sustained growth in our judgment. Weare actively seeking opportunity for discussion with revenue generatingenterprises and emerging companies for financing. BlackStar Enterprise Group,Inc. is traded on the OTC Pink Sheets under the symbol "BEGI."

Ourprincipal executive offices are located at 4450 Arapahoe Ave., Suite 100,Boulder, CO 80303 and our office telephone number is (303) 500-5073. Wemaintain a website at www.blackstarenterprisegroup.com, and such website is notincorporated into or a part of this filing.

InternationalHedge Group, Inc. ("IHG"), our parent company, contracted to acquire 95% of ouroutstanding stock in January 2016 and closed on the purchase in summer of 2016.IHG is our controlling shareholder and is engaged in providing managementservices to companies, and, on occasion, capital consulting. IHG's strategy ininvesting in BlackStar Enterprise Group, Inc. is to own a controlling interestin a publicly quoted company which has the legal ability and mission to do loanbased funding of start-up and developed business ventures using its stock forprivate placement or public offerings. IHG and BlackStar are managed and controlledby the same individuals, but IHG may seek its funding from different and asyet, undetermined sources, with funding structures of different natures.

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**CORPORATESTRUCTURE**

Ourcorporate structure is as follows:

**INTERNATIONAL  HEDGE GROUP, INC.**

**(Parent  Company - a Colorado corporation)**

]
**BLACKSTAR  ENTERPRISE GROUP, INC.**

(a  Delaware corporation)

]
We  have no subsidiaries at this time.

** CURRENTBUSINESS**

OurCompany, BlackStar Enterprise Group, Inc. intends to be a micro capmerchant banking and finance firm that serves clients in their early corporatelifecycles and which may provide funding in the form of loans, factoring,convertible debt, equity, and joint ventures. We have only engaged in onetransaction in a merchant bank form to date.

Ourinvestment strategy focuses primarily on making secured and unsecured debtinvestments in or joint ventures with companies that we believe are poised togrow at above-average rates relative to other sectors of the U.S. economy,which we refer to as "emerging growth companies."  We may alsoinvest in equity or equity-related 

IHGintends to enter into management consulting agreements with companies in whichBlackStar provides funding to attempt to guide the companies in the complexbusiness world for the purpose of protecting and enhancing the loans made byBlackStar. 

**SERVICES **

We seekdebt investments in private, or public emerging commercial-stage businesseswith perceived strong growth prospects within certain industry sectors. We willnot fund a company unless our parent, International Hedge Group, Inc., has aconsulting engagement so that our client companies can be monitored as to theirfinancial situations. We may, under our loan documents and certaincircumstances, convert our debt to equity (in whole or in part) and we mayreceive warrants in the borrower companies, for loans, factoring, or jointventures.

Givenour early-stage focus, our borrower companies will typically have an estimatedpath to liquidity in a three-year +/- timeframe. We seek to invest up to$1 million per company in senior debt securities. We may provideoff-balance sheet financing to client companies, through joint ventures orlimited liability companies under structures we cannot now predict.

Oursuccess will be dependent upon are our abilities to analyze and manage thelending opportunities presented to us.** **

Ourmanagement may earn shares of our Company under our Stock Option and Award Planas incentives on the basis of achievement, and all are accountable to eachother, as well as the shareholders, and bonus awards are intended based uponindividual performance, as well as team cooperation, and enterprise building.** **

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Weintend to focus on making secured and unsecured debt investments in emerginggrowth companies. We intend to primarily make debt investments in companiesacross various stages of development, including early and growth stagecompanies, more established companies and lower middle market companies. We mayalso very occasionally invest in equity and equity-related securities, andjoint ventures. 

Ouroperating principles

•

Participate  in debt underwritings which we feel we can support, with economics that  reflect our relative value-add;

•

Provide  alternative debt and joint venture funding for entrepreneurs; this could be  in the form of debt convertible to equity, or warrants coupled with the loan,  or could be in the form of a joint venture structure where we co-own a  limited liability company to fund a project for an emerging growth company. 

•

Requirements  for investees:

(1)

We  require GAAP and SEC accounting compliance from day one.

(2)

We  require competent and efficient legal representation of our-(the lender),  side from day one. 

(3)

Our  management intends to choose borrower companies with real managers in the  borrower companies, without the excess costs of headhunting and unsuccessful  attempts to bring in "name" management which rarely succeeds and which  dilutes the shareholders equity with overpaid and underperforming execs.

**INVESTMENTOBJECTIVES**

CAPITALAPPRECIATION. Our primary investment objective is to provide our shareholderswith long term capital appreciation by investing primarily in loans,convertible debt or convertible preferred securities of small public or privatecompanies or joint ventures with selective private companies seeking to gopublic. ** **We believe that a typical loan will have a three-yearwindow, and when applied over a number of investments in loans with equityfeatures, conversions or warrants will provide, in time, progressive capitalreturns and potential profits, which in time gives capital appreciation over along term. Our investment objective is to restrict our investments to emerginggrowth companies we believe offer special opportunities and meet our loancriteria, and we intend to reduce the risks associated with investments instartups. Our goal is to provide mezzanine and expansion loan capital tocompanies in order to assist them in devising a comprehensive growth strategy,possibly involving a consolidation of similarly situated businesses or ageographic expansion of existing product or service offerings.

CAPITALPRESERVATION. A second investment objective is to preserve investor capitalthrough risk management and monitoring the management of our loan portfolio.Among the risk management techniques which we expect to employ are: (i)limiting our investments in very early stage companies, (ii) retaining minorequity interests in one or more borrower companies that have a positive cashflow; (iii) co-investing in borrower companies with other professional venturecapital. We will not provide significant services to our borrowers, but ourparent company may be so engaged (See "Conflicts of Interests"). Any singleloan investment is risky. Many will not provide any gain, and some will becomplete losses.

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OUR APPROACH COMPARED TO TRADITIONAL SOURCES OFVENTURE FINANCING

Emergingcompanies traditionally seek financing for growth from three primary sources:small private placements, independent private venture capital funds andcorporate strategic investors. Each of these sources has advantages but alsonotable disadvantages for the emerging company. Small Private Placements areoften underfunded and untimely. Venture capital funds generally are establishedfor a limited term and their primary goal is to maximize their financial returnwithin a short time frame, often two years or less with severe terms forextensions or additional funding. ** **A venture capital fund oftenseeks to liquidate its investment in the emerging company by encouraging eitheran early initial public offering or a sale. This often can jeopardize anemerging company's chances for success especially if its business has not beenfully developed or its intellectual property fully safeguarded prior to itsdebut into the market.

Corporatestrategic investors are typically large corporations that invest in emergingcompanies to gain access to a promising product or technology without incurringthe initial cost of development or the diversion of managerial time andattention necessary to develop new products or technologies. Often theseinvestments involve both financing support to the emerging company and anarrangement under which the strategic investor obtains the right to use, andintellectual property ownership of, the products or technology of the emergingcompany. While strategic investors are generally able to provide businessdevelopment support, the rationale behind the investment of a strategicinvestor may be incompatible with the development of the emerging company.Strategic investors often discourage the emerging company from becoming apublic company, selling to competitors of the strategic investor or fromretaining the intellectual property rights to products developed jointly withthe strategic investor.

We maybe limited in our ability to fund borrower companies because we may not besuccessful in raising additional funds for any follow loans.  Through thepublic market for our common stock, we hope to have access to additional equitycapital that may be needed for follow on loans.

Webelieve that our advantage over a strategic investor is that our interests aremore closely aligned with those of the emerging company. An initial publicoffering of the emerging company, our borrower, often required to raise theadditional capital investment necessary to fully develop a company's product ortechnology, would also benefit us by creating repayment of our loan, andpossibly in certain instances, an equity position.

OURINVESTMENT POLICIES

We mayloan to or invest in companies which do not have any annual revenue, if we havedetermined that an investment in the securities of such company is reasonableand may allow us to exit our investment.

Althoughwe may seek to loan to or invest in companies with existing positive EBITDA(earnings before interest, income taxes, depreciation and amortization), we mayalso consider turn around situations where we can clearly identify thesource(s) of financial distress. Through our investment, or throughco-investment with other private equity funding sources we may readilyascertain performance improvements. We will not change our investment intent ofinvesting in a diverse array of industries by restricting our investment criteriato any single industry or sector.

Weexpect to realize value for our shareholders by obtaining loan repayment and,if applicable to the solution, selling any equity securities resulting fromconvertible debt or warrants of our borrower companies for a profit, either toprivate investors or when the companies might become public. In the shorterterm, we do not anticipate paying any dividends or making other distributionsbut this may change in the future. We may not always achieve full loan repaymentfrom a borrower. We may not be successful in selling any equity securities ofour borrower companies for a profit at any time in the future.

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UNLESSOTHERWISE STATED HEREIN, ALL OF THE FOLLOWING POLICIES ARE SUBJECT TO CHANGEWITHOUT ANY VOTE OF THE HOLDERS OF A MAJORITY OF OUR VOTING SECURITIES.

Ourborrowers loan will typically be negotiated directly with the issuer in privatetransactions. Our borrower companies may be in the form of loans with stockand/or warrants or in the form of preferred stock and/or debentures that areconvertible into common stock under certain circumstances.

Afterour initial loan, we anticipate that we may provide additional or follow onfinancing or introduce our borrower companies to other private equity fundingsources for such "follow on" funding.

Inselecting loan investments for our borrower, we will endeavor to meet ourguidelines, as established by our Board which include the following concepts.We may, however, make investments that do not conform to one or more of theseguidelines when deemed appropriate by our Board of Directors. Such investmentsmight be made if we believe that a failure to conform in one area is offset byexceptional strength in another or is compensated for by a higher yield,favorable warrant issuance or other attractive terms or features.

LOANCRITERIA

STAGEOF DEVELOPMENT CRITERIA. We are a special situations Company. We will primarilylook for opportunities with a core business which we believe will provide uswith a return of investment and on investment within a moderate period of time,typically targeting about thirty-six months. Our objective is to invest inemerging corporations which meet our requirements as well as qualitativepotential that we look for in each opportunity. In addition, we will look toinvest in public corporations which have a small market capitalization butwhich either have shifted in business direction, been subject to areorganization or recapitalization or other significant change. In suchinstances, we may relax our quantitative requirements with the view to assistsuch companies in developing a strategic business plan which may include mergeror acquisition of other private operating businesses which may be synergisticto the existing business of the public corporation.

Thestages of development are defined as follows:

•     Seed capital companies represent the earliest stage of development. Thesecompanies have raised relatively modest equity capital to prove a concept andqualify for start-up capital. Their activities generally are limited to productdevelopment, scientific and market research, recruiting a management team anddeveloping a business plan. These companies likely do not have financialsupport from either venture capitalists or larger companies making strategicinvestments.

•     Start-up stage companies are completing or have recently completed productdevelopment and initial marketing, but have not sold their productscommercially. Generally such firms have made market studies, assembled keymanagement, developed a business plan and are ready to commence operations.

•     Expansion stage companies have initiated or are about to initiate full-scaleoperations and sales, but may not be showing a profit.

•     Mezzanine stage companies are approaching or have attained break even orprofitability and are continuing to expand. An acquisition or initial publicoffering may be imminent.

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Classificationof a company by stage of development necessarily involves our subjectivejudgment, and it is possible that other investors or market analysts wouldclassify a company differently than the classification used by our Company.

QUALITATIVECRITERIA. All potential borrower companies will first be evaluated and assessedbased on their relative stage of development and the quality of an investmentin such borrower company based on the above criteria. Once our management teamhas determined that a potential borrower company satisfies the above criteriaand is suitable for investment, it will then be evaluated using the multi-stepprocess described below. After completion of the process, receipt and review ofall internal and outside reports and evaluations of the potential borrowercompany, the Board will submit the matter of investing in the potentialborrower company to a vote. If the Board approves the investment, we will thenproceed with a written offer, establish a disbursement of proceeds schedule,and prepare appropriate documents to reflect our loan and any managementservice contracts between the potential borrower company and our company.

Weintend to follow the steps set forth below in our lending process: 

(1)BUSINESS PLAN/ASSESSMENT . Business plan description and complete resumes ofmanagement from all entrepreneurs. Members of our management team will meetwith the best of these entrepreneurs, attempting to identify key traits thathave been associated with entrepreneurial success in the past, such as highenergy, a must-win attitude, intellectual brilliance, high personal integrity,relevant experience, a strong work ethic, and the ability to prioritize andfocus. A business plan submitted for evaluation to us should contain thefollowing information:

•        Overviewof the business concept as well as the company's strategic focus and direction.

•        Discussionof competition including a discussion of specialized expertise, intellectualproperty, patents, and/or other unique advantages held by either the company orits competitors.

•        Sourcesand uses of cash with respect to investment capital sought.

•        Proforma financial projections for at least the current year and two subsequentyears including expected capital requirements from the time of the investmentcapital received through the two subsequent years.

•        Operatingplan including current and projected staffing, equipment, and spacerequirements.

•        Discussionof minimum dollar proceeds necessary in order to implement the business plan.

•        Marketingplan.

•        Discussionof conflicts of interest with investors together with steps being taken by theborrower company to mitigate such conflicts of interest and to protect againstfuture conflicts of interest.

•        Resumesfor all key officers/managers.

(2)EVALUATE POTENTIAL MARKET. We have developed relationships with consultants,who represent a valuable source of information about a target investment'smarket. We will call upon these contacts as well as create new ones in themarkets of each company seeking funding. As we evaluate markets, we must becomeconfident that the company can attain a competitive market position over time.

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(3)EXAMINE STRUCTURE OF BUSINESS MODEL. We will examine the structure upon whichthe business plan is built. The Board has indicated a distinct bias towardbusiness models calling for high gross margins and relatively low capitalintensiveness. Such businesses have the potential for higher internallysustainable growth rates than average and superior return on equity invested.In addition, we will require, whenever possible, implementation of the followingpolicies into the articles, bylaws or operating agreements of its borrowercompanies:

•        Therecan be only one class of common shares, all with equal voting rights, and alldistributions of capital or earnings can only be made to all members based upontheir percentage interest without preference;

•        Compensationof the key officers/managers and their affiliates, including, but not limitedto, all salary, bonuses, commissions and/or fees, shall be limited based uponthe success of the borrower company in reaching predetermined milestones; and

•        Theprimary responsibility of the management/officers of the entity is to serve asfiduciaries charged with serving the best interests of the stockholders/memberseven when such interests may be in conflict with the management, officers orother employees of the entity.

(4)CHECK REFERENCES. We will require that each entrepreneur supply a list ofreferences in order that we may get a better sense of the entrepreneur's pastexperience, strengths, weaknesses, and work habits. We make it a point to getreferences outside of this list as well, in order to avoid only"cherry-picked references." We believe that these checks areimportant to develop a more complete and accurate picture of the team.

(5)CALL CUSTOMERS AND SUPPLIERS. We intend to call a number of current and/orprospective customers and suppliers to get a sense of how they view thetargeted investment including its products and the market.

(6)EVALUATE PRODUCTS/TECHNOLOGY. As part of our analysis, we will evaluate thetarget borrower's current products, development pipeline and underlyingtechnology. To evaluate technology, we will not rely on in-house expertisealone, but will contact and hire appropriate specialists and consultants.

(7)EVALUATE RISKS/REWARDS. Evaluate the pro-forma financials, the likelihood of anexit after a 6 month to 24 month holding period.

(8)NEGOTIATE LOAN TERMS. When deciding on making an investment, we will draw up aterm sheet for negotiation, and terms will be agreed upon.

(9)FINANCIALS AND CORPORATE INFORMATION.

Inaddition, consideration of an investment in mezzanine and growth stagecompanies will require a careful evaluation of their financial records,including an evaluation of the following:

•        Financialstatements and notes to the financial statements including: managementdiscussion of operations and liquidity; details regarding all forms of actualcompensation of management and affiliates to compensation by the entity; numberof shares outstanding at the beginning of the period and the end of the periodand an explanation of the difference, if any; and a detailed discussion of theentity's rights and obligations under any joint ventures entered into alongwith a full discussion of any conflicts of interest management may have inentering into such joint ventures on behalf of the entity;

•        Equipmentlist and appraisal of equipment;

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•        Facilities,current product descriptions;

•        Currentmanagement resumes, employment contracts;

•        Allmaterial contracts (and amendments) currently in effect, including, withoutlimitation, leases, sales, purchase, financing, distribution, franchise,intellectual property, employment, insurance, employee benefit, and jointventure contracts; currently outstanding contractual offers by and to thecompany;

•        Correspondencewith contracting parties regarding contract interpretation, claims, or threatsof contract litigation;

•        Documentsrelating to the company's internal determinations as to whether it can, orshould, fulfill a particular contract;

•        Documentsrelating to material acquisitions and divestitures for the immediatelypreceding five years, particularly agreements involving covenants by or infavor of the company;

•        Minutebooks of the company, including minutes of the meetings of the board ofdirectors, any committee (whether of the board or otherwise), and shareholdersfor the last five years to date;

•        Allstock option, bonus, incentive, or pension plans, and any other agreements toissue shares of the company or any of its subsidiaries in the future;

•        Allagreements under which registration or preemptive-rights are granted toshareholders of the company; and

•        Allagreements, offering circulars, letters of intent, written proposals, ormemoranda of any oral proposals for the disposition, acquisition, ordistribution of any of the assets or shares of the company.

WARRANTSAND EQUITY SECURITIES. We expect to acquire warrants to purchase equitysecurities and convertible debt of eligible borrower companies in connectionwith providing loan financing. The terms of the warrants, including theexpiration date, exercise price and terms of the equity security for which thewarrant may be exercised, will be negotiated individually with each eligibleborrower company, and will likely be affected by the price and terms ofsecurities issued by the eligible borrower company to other venture capitalistsand other holders. It is anticipated that most warrants will be for a term ofthree to five years, and will have an exercise price related to the price atwhich the eligible borrower company most recently issued equity securities or,if a new equity offering is imminent, will next issue equity securities. Theequity securities for which a warrant can be exercised generally will be commonstock (of which there may be one or more classes) or convertible preferredstock. Substantially all of the warrants and underlying equity securities to beobtained by us will be restricted securities under the Securities Act at thetime of their issuance. We intend to negotiate registration rights withborrower companies such as (i) "piggyback" registration rights, whichwould permit us under certain circumstances to include some or all of thesecurities owned by us in a registration statement filed by the eligibleborrower company, or (ii) in rare circumstances, "demand"registration rights permitting us under certain circumstances to require theeligible borrower company to register the securities under the Securities Act(in some cases at our expense). We also intend to request "cashless"provisions in the warrants, which would allow us to receive, upon exercise ofthe warrant without payment of any cash, a net amount of shares determined bythe increase in the value of the issuer's stock above the exercise price statedin the warrant.

Eachwarrant or stock purchase is expected to contain customary and negotiatedrepresentations, warranties, covenants and events of default to protect us.

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LEVERAGE.We intend to borrow money from and issue debt securities to investment funds.The use of leverage increases investment risk. Lenders may require that wepledge borrower assets as collateral for loans. If we are unable to service theborrowings, we may risk the loss of such pledged assets. Lenders are also expectedto require that we agree to covenants limiting our ability to incur additionaldebt or otherwise limiting our flexibility. Typically, such loan agreementsprovide for acceleration of the maturity of the indebtedness if certainfinancial tests are not met.

RESERVES.We may retain reserves after the investment in order to have sufficient fundsfor equity-oriented follow-on investments in borrower companies. We intend tosell additional common stock to meet the funding requirements for such followon investments. If such sales are successful, we expect to have cash reserves.In order to enhance the rate of return on these reserves and increase theamounts ultimately available for investments and our operating costs, we planto engage in a reserve management strategy that will include making securedloans to borrower companies, potential borrower companies, or similar types ofcorporations.

AVERAGELOAN OR INVESTMENT. The amount of funds committed to a borrower company willvary depending on the funds available to us, the quality and completeness ofthe borrower company's management team, the perceived business opportunity, thecapital required compared to existing capital, and the potential return.Although loan or investment amounts will vary considerably, we expect that theaverage loan (excluding follow-on investments) will be between $250,000 and$2,000,000.

OTHERINVESTMENT POLICIES. We may sell securities short or acquire significantamounts of equity securities within a single issuer. We will not purchasesecurities on margin (except to the extent our permitted borrowings are deemedto constitute margin purchases), write puts or calls, purchase or sellcommodities or commodity contracts. We will not underwrite the securities ofother companies, except to the extent we may be deemed an underwriter upon thedisposition of restricted securities acquired in the ordinary course of ourbusiness.

**INDUSTRYANALYSIS AND HISTORY**

Barriersto Entry in the Industry

Thereis one major barrier to entry into the Industry which is capital. We have verylimited capital with which to compete in this industry. Many other competitorshave been in the business for many years and have very large capital resourcesand an established reputation. Our barriers to entry are, in addition to lackof capital, lack of reputation, lack of recognition, part-time management, lackof financial history to raise money, and lack of equity in our company uponwhich to base a capital raise.

CompetitiveFactors impacting our ability to gain market share

Ourcompetition enjoys advantages which may prevent us from achieving a marketshare due to our competitions known reputations, large funding abilities,competent management, and capital resources all of which will impede our abilitiesto achieve market share.

CompetitiveFactors in the Industry

Thereare numerous entities, Investments banks, merchant banks, hedge funds, privateequity, commercial banks and private investors which will compete for the samebusiness in which we intend to engage. We will be at a significant disadvantageto all of these other competitors for the foreseeable future. All of ourcompetitors should be considered to be far better capitalized than we are.

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Company's Competitive position in the Industry

Registrantis an insignificant participant in the merchant banking industry and cannot beexpected to obtain a market share even discernable percentage wise. Without alarge infusion of capital, it will remain a very small participant in theindustry.

MerchantBanking 

Theterm merchant banking is generally understood to mean negotiated private equityinvestment or financing through alternative methods by financial institutionsin loans, convertible debt or off balance sheet vehicles, or through unregisteredsecurities of either privately or publicly held companies. Both investmentbanks, commercial banks, and other companies engage in merchant banking, andthe type of security in which they invest is diverse. They may invest insecurities with an equity participation feature; these may be convertiblepreferred stock or subordinated debt with conversion privileges or warrants.Other investment bank services-raising capital from outside sources, advisingon mergers and acquisitions, and providing bridge loans while bond financing isbeing raised in a leveraged buyout (LBO) and are also typically offered byfinancial institutions or broker dealers engaged in the merchant bank industry.One which is often omitted is the provision of experienced management by themerchant to commercialize ideas, or technology.

Merchantbanking has been an occasionally lucrative but a highly risky-endeavor for thesmall number of bank holding companies and banks that have engaged in it underexisting law, and for private equity investors. Banking law legislation hasexpanded the merchant-banking activity that is permissible to commercial banksand has spurred interest in this lucrative specialty on the part of a someinstitutions, however, limitations exist and have scared many banks away fromthe markets after the Lehman collapse and the resulting fallout with JP Morgan,Bank of America and the big bank Wall Street bailout. Although for much of thepast half-century commercial banks have been permitted (subject to certain restrictions)to engage in merchant banking activities, their continued role is limited bythe conservatism of the regulators and their Boards.** **

Evolutionof the Private Equity Market 

Untilthe 1950s, U.S. investors in private equity were primarily wealthy individualsand families. In the 1960s and 1970s, corporations and financial institutionsjoined them in this type of investment. (In the 1960s, commercial banks werethe major providers of one kind of private equity investing, venture-capitalfinancing.) Through the late 1970s, wealthy families, industrial corporations,and financial institutions, for the most part investing directly in the issuingfirms, constituted the bulk of private equity investors.

In thelate 1970s, changes in the Employee Retirement Income Security Act (ERISA)regulations, in tax laws, and in securities laws brought new investors intoprivate equity. In particular, the Department of Labor's revised interpretationof the "prudent man rule" spurred pension fund investment in privateequity capital. Currently, the major investors in private equity in the UnitedStates are pension funds, endowments and foundations, corporations, and wealthyinvestors; financial institutions-both commercial banks and investmentbanks-represent significant segments of total private equity capital.

Thecapital markets have been through a number of cycles and the differentiationbetween investment banking and merchant banking has not been kept clear andstatistics have been difficult to collect for reliable data.

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Typical Uses of Private Equity 

Privateequity financing is an alternative to raising public equity, issuing publicdebt, or arranging a private placement of debt or bank loan. The reasonscompanies seek private equity financing are varied. For example, other forms offinancing may be unavailable or too expensive because the company's trackrecord is either nonexistent or poor (that is, the company is in financialdistress). Or a private company may want to expand or change its ownership but notgo public. Or a firm may not want to take on the fixed cost of debt financing.

Publicfirms may seek private equity financing when their capital needs are verylimited and do not warrant the expense, time, and regulatory paperwork requiredfor a public issue. They also may seek private equity to keep a plannedacquisition confidential or to avoid other public disclosures. They may use theprivate equity market because the public market for new issues in general isbad or because the public equity market is temporarily unimpressed with theirindustry's prospects. Finally, very often in recent years, managements of largepublic firms have felt their firms will benefit from a change in capitalstructure and ownership and will choose to go private by means of a leveragedbuyout (LBO).

Althoughcompanies seek private equity for all these reasons, most private equityfunding has been used for one of two purposes: to fund start-up or early-stagecompanies (venture capital) or to bring large public companies private in LBOs.

FormsTaken by Investments 

Currently,many private equity investments (including loans and convertible debt) are madeby limited partnerships or limited liability companies, with professionalprivate equity managers acting on behalf of institutional investors. In alimited partnership, the professional equity managers serve as generalpartners, and the institutional investors serve as limited partners. Thegeneral partners or managers manage the investment and contribute aninsignificant part of the investment, generally approximately 1 percent. Theseentities have a contractually fixed life, usually five to ten years. Theinvestments are often highly illiquid over the entity's life, with a return notexpected until the entity's later years, when the business is sold through apublic offering or a private sale, or interest or the shares are repurchased bythe company.  

Evolutionof Modern Era Merchant Banking

Manybanks entered merchant banking in the 1960s to take advantage of the economiesof scope produced when private equity investing is added to other bankservices, particularly commercial lending. As lenders to small and medium-sizedcompanies, banks become knowledgeable about individual firms' products andprospects and consequently are natural providers of direct private equityinvestment to these firms.

In themiddle to late 1980s, the decision to enter merchant banking was thrust onother banks and bank holding companies by unforeseen events. In those years, asa result of the LDC (less-developed-country) debt crisis, many banks receivedprivate equity from developing nations in return for their defaulted loans. Atthat time, many of these banks set up merchant-banking subsidiaries to try toextract some value from this private equity.

Also atabout that time, most commercial banks began refocusing their private equityinvestments to middle-market and public companies (often low-tech, alreadyprofitable companies) and, rather than providing seed capital, financedexpansion or changes in capital structure and ownership. Most particularly,they took equity positions in LBOs, takeovers, or recapitalizations or providedsubordinated debt in the form of bridge loans to facilitate the transaction.Often they did both. Commercial banks financed much of the LBO activity of the1980s.

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Then,in the mid-1990s, major commercial banks began once again focusing on venturecapital, where they had substantial expertise from their previous exposure tothis kind of investment. Some of these recent venture-capital investments havebeen spectacularly successful. For example, the Internet search engine Lycoswas a 1998 investment of Chase Manhattan's venture-capital arm.

We donot compete in the area of these ultra large merchant banks, or even large ormid-market banks. We are an insignificant participant in the total market andour focus is on small investments, which larger banks rule out.

OurCompany has no historical track record and we should be deemed a pure start-upof earning or operating with all of the risks of an unproven company (see "RiskFactors").

COMPETITION, MARKETS, REGULATION ANDTAXATION

COMPETITION

There are a large number of companies and individuals engaged inthe Merchant Banking and Finance industry; accordingly, there is a high degreeof competition. Almost all of the companies and individuals so engaged havesubstantially greater technical and financial resources than we do.

We are an insignificant participant among the firms which engagein the funding of business opportunities. There are many established venturecapital and financial concerns that have significantly greater financial andpersonnel resources and technical expertise than we have. In view of ourlimited financial resources and limited management availability, we willcontinue to be at a significant competitive disadvantage compared to ourcompetitors.

Investment Company Act 1940

Although we will be subject to regulation under the Securities Actof 1933, as amended, and the Securities Exchange Act of 1934, we believe wewill not be subject to regulation under the Investment Company Act of1940 (the "1940 Act") insofar as we will not be engaged in thebusiness of investing or trading in securities within the definitions andparameters which would make us subject to the "1940 Act." In the event weengage in business activities that result in us holding investment interests ina number of entities, we might become subject to regulation under the 1940 Act.In such event, we would be required to register as an Investment Company andincur significant registration and compliance costs.

As a fundamental concept, the 1940 Act requires registration ofcompanies that invest and manage funds to invest for others and trade insecurities of other companies. Those companies that cross a threshold of 40% ofassets in cash and stock in other companies may be required to register.Investment companies may issue face amount certificates, be a Unit InvestmentTrust, or be a mutual fund. We intend to do several things to remain outside ofthe 1940 Act: a) we will not trade in securities of other companies or manageinvestments for others, b) we intend to remain primarily in the merchant banklending business recognized as exempt under Sections 3(c)(4) and (5) of the 1940Act, c) we intend to carefully monitor our ratios of cash and securities tototal assets to avoid crossing the 1940 Act threshold, d) we intend to holdloans comprising 60% to 70% of our assets at any time, e) we intend to maintainsecured loans to companies as our primary business. We do not intend to providemanagerial services to borrowers, f) we do not intend to issue face amountcertificates, g) we do not intend to distribute profits and dividends to ourshareholders on an annual or shorter basis, if ever, h) we do not pass throughprofits and losses to our shareholders on a tax basis, i) smaller secured loanswill be our primary business and our primary profit center, which we intendwill account for more than 50% of our revenues; j) we will not issue Units ininvestment trusts, k) we will not act as a mutual fund, and l) we will notinvest funds on behalf of others.

We have obtained no formal determination from the SEC as to ourstatus under the 1940 Act and, consequently, any violation of the 1940 Actwould subject us to material adverse consequences. We believe that, currently,we are exempt under Regulation 3(c)(4) and (5) of the 1940 Act.

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MARKETS** **

Ourmarket is highly competitive and constantly changing. Commercial success isfrequently dependent on capital availability, the effectiveness and sufficiencyof which are very difficult to predict accurately. It is one of the principaleconomic risks of mezzanine and expansion stage funding companies like ours.

REGULATION

GovernmentalRegulation.

Weare subject to regulations by securities laws as a public company. We do notintend to become an investment company under the Investment Company Act of1940, but if we exceed certain thresholds of certain assets or our businessoperations cease to fall within certain exemptions, we might inadvertentlybecome subject to the Act.

Compliancewith Environmental Laws and Regulations.               

Certainstates may require that we obtain a Lender's License prior to making a loan inthat state. We intend to address this on an as needed basis.

StateRegulations.

Weare not involved in operations with environmental considerations for ourbusiness.

RESEARCHAND DEVELOPMENT ACTIVITIES

Wehave not spent, and currently do not plan to spend in the future, any funds onresearch and development activities.  

EMPLOYEES

Asof December 31, 2016, we have no full-time employees and 3 independentconsultants who act as our officers and directors on a part-time basis of about20 hours per week. Our officers and directors are responsible for planning,development and operational duties, and will continue to do so throughout theearly stages of our growth. We have no intention of hiring additional employeesuntil we have sufficient, reliable revenue from our operations. We do not havewritten employment agreements with any of our officers or directors at thistime. 

REPORTS TO SECURITIES HOLDERS

Weprovide an annual report that includes audited financial information to ourshareholders. We will make our financial information equally available to anyinterested parties or investors through compliance with the disclosure rulesfor a small business issuer under the Securities Exchange Act of 1934. We aresubject to disclosure filing requirements including filing Form 10K annuallyand Form 10Q quarterly. In addition, we will file Form 8K and other proxy andinformation statements from time to time as required. We do not intend tovoluntarily file the above reports in the event that our obligation to filesuch reports is suspended under the Exchange Act. The public may read and copyany materials that we file with the Securities and Exchange Commission,("SEC"), at the SEC's Public Reference Room at 100 F Street NE, Washington, DC20549. The public may obtain information on the operation of the PublicReference Room by calling the SEC at 1-800-SEC-0330. The SEC maintains anInternet site (http://www.sec.gov) that contains reports, proxy and informationstatements, and other information regarding issuers that file electronically withthe SEC.

**Item 1A. Risk Factors.**

FORWARD LOOKING STATEMENTS

THIS DOCUMENT INCLUDES FORWARD-LOOKING STATEMENTS, INCLUDING,WITHOUT LIMITATION, STATEMENTS RELATING TO  BLACKSTAR'S PLANS, STRATEGIES,OBJECTIVES, EXPECTATIONS, INTENTIONS AND ADEQUACY OF RESOURCES. THESEFORWARD-

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LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, ANDOTHER FACTORS THAT MAY CAUSE OUR COMPANY'S ACTUAL RESULTS, PERFORMANCE ORACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE ORACHIEVEMENTS EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING STATEMENTS. THESEFACTORS INCLUDE, AMONG OTHERS, THE FOLLOWING: OUR ABILITY OF TO IMPLEMENT OURBUSINESS STRATEGY; ABILITY TO OBTAIN ADDITIONAL FINANCING;  BLACKSTAR'S LIMITEDOPERATING HISTORY; UNKNOWN LIABILITIES ASSOCIATED WITH FUTURE ACQUISITIONS;ABILITY TO MANAGE GROWTH; SIGNIFICANT COMPETITION; ABILITY TO ATTRACT ANDRETAIN TALENTED EMPLOYEES; AND FUTURE GOVERNMENT REGULATIONS; AND OTHER FACTORSDESCRIBED IN THIS FILING OR IN OTHER OF  BLACKSTAR'S FILINGS WITH THESECURITIES AND EXCHANGE COMMISSION. BLACKSTAR IS UNDER NO OBLIGATION TOPUBLICLY UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULTOF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE. 

**RISKSRELATED TO OUR COMPANY AND THE BUSINESS* ***

OURSUCCESS WILL DEPEND, TO A LARGE DEGREE, ON THE EXPERTISE AND EXPERIENCE OF THEMEMBERS OF OUR MANAGEMENT TEAM.

We willrely exclusively on the skills and expertise of our management team inconducting our business. Our management team has experience in identifying,evaluating and acquiring prospective businesses for which we may ultimatelyprovide loans, but there is no assurance our managements assessments will besuccessful in placing loans which are repaid with interest. ** **Accordingly,there is only a limited basis upon which to evaluate our prospects forachieving our intended business objectives.

We willbe wholly dependent for the selection, structuring, closing and monitoring ofall of our investments on the diligence and skill of our management team, underthe supervision of our Board of Directors. There can be no assurance that wewill attain our investment objective. The management team will have primaryresponsibility for the selection of companies to which we will loan or finance,the terms of such loans and the monitoring of such investments after they aremade. However, not all of the management team will devote all of their time tomanaging us. These factors may affect our returns.

We havelimited resources and limited operating history.

OUROPERATIONS AS A MERCHANT BANK MAY AFFECT OUR ABILITY TO, AND THE MANNER INWHICH, WE RAISE ADDITIONAL CAPITAL, WHICH MAY EXPOSE US TO RISKS.

Ourbusiness will require a substantial amount of capital. We may acquire additionalcapital from the issuance of senior securities, including borrowings or otherindebtedness, or the issuance of additional shares of our common stock. However,we may not be able to raise additional capital in the future on favorable termsor at all. We may issue debt securities, other evidences of indebtedness orpreferred stock, and we may borrow money from banks or other financialinstitutions, which we refer to collectively as "senior securities". If thevalue of our assets declines, we may be unable to satisfy loan requirements. Ifthat happens, we may be required to liquidate a portion of our investments andrepay a portion of our indebtedness at a time when such sales may bedisadvantageous. As a result of issuing senior securities, we would also beexposed to typical risks associated with leverage, including an increased riskof loss. If we issue preferred stock, the preferred stock 

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wouldrank "senior" to common stock in our capital structure, preferred stockholderswould have separate voting rights and might have rights, preferences, orprivileges more favorable than those of our common stockholders. If we raiseadditional funds by issuing more common stock or senior securities convertibleinto, or exchangeable for, our common stock, then the percentage ownership ofour stockholders at that time will decrease.

WE AREDEPENDENT UPON OUR PART-TIME MANAGEMENT FOR OUR SUCCESS WHICH IS A RISK TO OURINVESTORS.

Ourlack of full-time management may be an impediment to our business achievement.Without full-time officers, we may not have sufficient devoted time and effortto find successful loan prospects, additional capital, or manage our loanportfolio, which could impair our ability to succeed in our business plan, andcould cause investment in our Company to lose value.

WE HAVEA LIMITED AMOUNT OF FUNDS AVAILABLE FOR INVESTMENT IN LOANS OR OTHER FINANCIALINSTRUMENTS TO BORROWER COMPANIES AND AS A RESULT OUR LOAN INVESTMENTS LACKDIVERSIFICATION.

Basedon the amount of our existing available funds, it is unlikely that we will beable to commit our funds to loans to, and the acquisition of debt or,securities of a large number of companies. We intend to operate as adiversified merchant bank. Prospective investors should understand that ourcurrent investments are not, and in the future may not be, substantiallydiversified. We may not achieve the same level of diversification as largerentities engaged in similar activities. Therefore, our assets may be subject togreater risk of loss than if they were more widely diversified. The loss of oneor more of our limited number of investments could have a material adverseeffect on our financial condition.

WE HAVEA LACK OF REVENUE HISTORY AND STOCKHOLDERS CANNOT VIEW OUR PAST PERFORMANCESINCE WE HAVE A LIMITED OPERATING HISTORY.* *

We wereincorporated on December 17, 2007 for the purpose of engaging in any lawfulbusiness and have adopted a plan as a small and micro cap market merchantbanking company. During the period of inception through December 31, 2016, wedid not recognize revenues. We recognized no revenues during the fiscal yearended December 31, 2016. We are not profitable. We must be regarded as a newventure with all of the unforeseen costs, expenses, problems, risks anddifficulties to which such ventures are subject.

WE ARENOT DIVERSIFIED AND WE WILL BE DEPENDENT ON ONLY ONE BUSINESS, MERCHANTBANKING.

Becauseof the limited financial resources that we have, it is unlikely that we will beable to diversify our operations. Our probable inability to diversify ouractivities into more than one area will subject us to economic fluctuationswithin the merchant banking industry and therefore increase the risksassociated with our operations due to lack of diversification.

WE CANGIVE NO ASSURANCE OF SUCCESS OR PROFITABILITY TO OUR STOCKHOLDERS.

Thereis no assurance that we will ever operate profitably. There is no assurancethat we will generate revenues or profits, or that the market price of ourcommon stock will be increased thereby.

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WE MAY HAVE A SHORTAGE OF WORKING CAPITAL IN THEFUTURE WHICH COULD JEOPARDIZE OUR ABILITY TO CARRY OUT OUR BUSINESS PLAN.

Ourcapital needs consist primarily of expenses related to general andadministrative and legal and accounting and could exceed $200,000 in the nexttwelve months. Such funds are not currently committed, and we have cash ofapproximately $24,000 as of the date of this filing.

WE WILLNEED ADDITIONAL FINANCING FOR WHICH WE HAVE NO COMMITMENTS, AND THIS MAYJEOPARDIZE EXECUTION OF OUR BUSINESS PLAN.

We havelimited funds, and such funds may not be adequate to carryout our business planin the small and micro cap market merchant banking industry. Our ultimatesuccess depends upon our ability to raise additional capital. We areinvestigating the availability, sources, and terms that might govern theacquisition of additional capital. 

We haveno commitment at this time for additional capital.  If we need additionalcapital, we have no assurance that funds will be available from any source or,if available, that they can be obtained on terms acceptable to us. If notavailable, our operations will be limited to those that can be financed withour modest capital.

WE MAYIN THE FUTURE ISSUE MORE SHARES WHICH COULD CAUSE A LOSS OF CONTROL BY OUR PRESENTMANAGEMENT AND CURRENT STOCKHOLDERS.

We mayissue further shares as consideration for the cash or assets or services out ofour authorized but unissued common stock that would, upon issuance, represent amajority of the voting power and equity of our Company. The result of such anissuance would be those new stockholders and management would control ourCompany, and persons unknown could replace our management at this time. Such anoccurrence would result in a greatly reduced percentage of ownership of ourCompany by our current stockholders, which could present significant risks tostockholders.

WE HAVEAUTHORIZED AND DESIGNATED A CLASS A PREFERRED SUPER MAJORITY VOTING CONVERTIBLESTOCK, WHICH HAVING VOTING RIGHTS OF 60% TO OUR COMMON STOCK AT ALL TIMES.

Class APreferred Super Majority Voting Convertible Stock (the "Class A PreferredStock") of which 10,000,000 shares of preferred stock have been authorized forthe class. The Class A Preferred Stock are to have super majority voting rightsover common stock voting 60% at all times. At this time, all shares of theClass A Preferred Stock have been issued to International Hedge Group, Inc.which is controlled by Mr. Harris and Mr. Kurczodyna, our officers anddirectors.

OUROFFICERS AND DIRECTORS MAY HAVE CONFLICTS OF INTERESTS AS TO CORPORATEOPPORTUNITIES WHICH WE MAY NOT BE ABLE OR ALLOWED TO PARTICIPATE IN AND MAYRECEIVE COMPENSATION FROM OUR PARENT COMPANY.

Presentlythere is no requirement contained in our Articles of Incorporation, Bylaws, orminutes which requires officers and directors of our business to disclose to usbusiness opportunities which come to their attention. Our officers anddirectors do, however, have a fiduciary duty of loyalty to us to disclose to usany business opportunities which come to their attention, in their capacity asan officer and/or director or otherwise. Excluded from this duty would beopportunities which the person learns about through his involvement as anofficer and director of another company. We have no intention of merging withor acquiring a business opportunity from any affiliate or officer or director.Our officers and directors also serve our parent company, International HedgeGroup, Inc., which has and will have consulting agreements with most or all ofour loan borrower companies and such is a direct conflict and such officers anddirectors may be paid by such parent.

WE HAVEAGREED TO INDEMNIFICATION OF OFFICERS AND DIRECTORS AS IS PROVIDED BY DELAWARESTATUTES.

DelawareGeneral Corporation Laws provide for the indemnification of our directors,officers, employees, and agents, under certain circumstances, againstattorney's fees and other expenses incurred by them in any litigation to whichthey become a party arising from their association with or activities ourbehalf. We will also bear the expenses of such litigation for any of ourdirectors, officers, employees, or agents, upon such person's promise to repayus therefore if it is ultimately  

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determined that any such person shall not havebeen entitled to indemnification. This indemnification policy could result insubstantial expenditures by us that we will be unable to recoup.* *

OURDIRECTORS' LIABILITY TO US AND STOCKHOLDERS IS LIMITED

DelawareGeneral Corporation Laws exclude personal liability of our directors and ourstockholders for monetary damages for breach of fiduciary duty except incertain specifiedcircumstances. Accordingly, we will have a much more limited right of actionagainst our directors that otherwise would be the case. This provision does notaffect the liability of any director under federal or applicable statesecurities laws.

We haveno full-time employees which may impede our ability to carry on our business.Our officers are independent consultants who devote up to 20 hours per week toCompany business. The lack of full-time employees may very well prevent theCompany's operations from being efficient, and may impair the business progressand growth, which is a risk to any investor.

CONFLICTSOF INTEREST.

Certainconflicts of interest may exist between our Company and our officers anddirectors. They have other business interests to which they devote theirattention, and may be expected to continue to do so although management timeshould be devoted to the business of our Company. As a result, conflicts ofinterest may arise that can be resolved only through exercise of such judgmentas is consistent with fiduciary duties to our Company.

NOASSURANCE OF SUCCESS OR PROFITABILITY.

Thereis no assurance that our Company will ever operate profitably. There is noassurance that we will generate profits, or that the value of our Company'sShares will be increased thereby.

LACKOF DIVERSIFICATION.

Becauseof the limited financial resources that we have, it is unlikely that we will beable to diversify our operations. Our probable inability to diversify ouractivities into more than one area will subject us to economic fluctuationswithin our business or industry and therefore increase the risks associatedwith our operations.

DEPENDENCEUPON MANAGEMENT. LIMITED PARTICIPATION OF MANAGEMENT.

OurCompany will be heavily dependent upon our management skills, talents, andabilities, as well as our consultants, to implement our business plan, and may,from time to time, find that their inability to devote full time attention tothe business of our Company results in a delay in progress toward implementingour business plan.

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DEPENDENCE UPON OUTSIDE ADVISORS.

Tosupplement the business experience of our officers and directors, we may berequired to employ accountants, technical experts, appraisers, attorneys, orother consultants or advisors. Our Company's management, without any input fromstockholders, will make the selection of any such advisors. Furthermore, it isanticipated that such persons may be engaged on an "as needed" basis without acontinuing fiduciary or other obligation to our Company. In the event ourCompany considers it necessary to hire outside advisors, they may elect to hirepersons who are affiliates, if they are able to provide the required services.

Basedon our current cash reserves, we will have relatively small operational budgetfor the operations that we cannot expand without additional raising capital. 

Ifwe are unable to begin to generate enough revenue to cover our operationalcosts, we will need to seek additional sources of funds. Currently, we have nocommitted source for any funds as of date hereof. No representation is madethat any funds will be available when needed. In the event funds cannot beraised if and when needed, we may not be able to carry out our business planand could fail in business as a result of these uncertainties.

Wecannot give any assurances that we will be able to raise enough capital to fundacquisitions and product development.

Wewill need to raise additional funds to support not only our budget, but alsoour expansion operations. We cannot make any assurances that we will be able toraise such funds or whether we would be able to raise such funds with termsthat are favorable to us. We may seek to borrow monies from lenders atcommercial rates, but such lenders will probably be at higher than bank rates,which higher rates could, depending on the amount borrowed, make the netoperating income insufficient to cover the interest.

**RISK FACTORS OF THECOMPANY**

WE MAY NOT REALIZERETURNS ON OUR LOANS IN BORROWER COMPANIES FOR SEVERAL YEARS. THUS, ANINVESTMENT IN SHARES OF OUR COMMON STOCK IS ONLY APPROPRIATE FOR INVESTORS WHODO NOT NEED SHORT TERM LIQUIDITY IN THEIR MONEY.

We intend to make loansas quickly as possible consistent with our business objectives in thoseinvestments that meet our criteria. However, it is likely that a significantperiod of time will be required before we are able to achieve repayment and anyadditional value from warrants or stock conversions that we hold in an eligibleborrower company.

COMPETITION FOR LOANSAND INVESTMENTS.

We expect to encountercompetition from other entities having similar business objectives, some ofwhom may have greater resources than us. Historically, the primary competitionfor venture capital investments has been from venture capital funds andcorporations, venture capital affiliates of large industrial and financialcompanies, small business investment companies, and wealthy individuals.Additional competition is anticipated from foreign investors and from largeindustrial and financial companies investing directly rather than throughventure capital affiliates. Virtually all of our competitors will have acompetitive advantage and are much larger. The need to compete for loans orinvestment opportunities may make it necessary for us to offer borrowercompanies more attractive transaction terms than otherwise might be the case.We anticipate being a co-investor with other venture capital groups, and theserelationships with other groups may expand our access to businessopportunities.

RISKS OF COMPETITION FOROUR BORROWER COMPANIES.

Most emerging marketsare highly competitive. We anticipate that nearly all our borrower companieswill compete against firms with greater financial resources, more extensivedevelopment, manufacturing, marketing, and service capabilities, and a largernumber of qualified managerial and technical personnel.

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ILLIQUID NATURE OF OURINVESTMENTS.

We anticipate thatsubstantially all of our borrower loans (other than short-term investments)will consist of debt securities that at the time of acquisition areunmarketable, illiquid and for which no ready market will exist, or if such amarket does in fact exist. If we receive Restricted securities as part of aloan transaction such cannot be sold publicly without prior agreement with theissuer to register the securities under the Securities Act, or by selling such securitiesunder Rule 144 or other provisions of the Securities Act which permit onlylimited sales under specified conditions. Venture capital investments in thesecurities of borrower companies are privately negotiated transactions. Therewill be no established trading market in which such securities, particularlydebt, can be sold. In the case of warrants or equity securities in privatecompanies, we generally will realize the value of such securities only if theissuer is able to make an initial public offering of its shares, or enters intoa business combination with another company which purchases our warrants orequity securities or exchanges them for publicly traded securities of theacquirer. The feasibility of such transactions depends upon the borrowercompany's financial results as well as general economic and equity marketconditions. Furthermore, even if the restricted warrants or equity securitiesowned become publicly-traded, our ability to sell such securities may belimited by the lack of or limited nature of a trading market for suchsecurities. When restricted securities are sold to the public, under certaincircumstances we may be deemed an "underwriter" or a controllingperson with respect thereto for the purposes of the Securities Act, and besubject to potential liabilities as such under that Act. Because of theilliquid nature of our investments, a substantial portion of our assets will becarried on its books at fair value as determined by the Board from time to timeadjusted. This value will not necessarily reflect the amount which could berealized upon a sale, or payoff.

RISKS OF OUR NEED FORADDITIONAL CAPITAL TO FUND LOANS OR EQUITY TO OUR BORROWER COMPANIES.

We expect that mostborrower companies will require additional financing to satisfy their workingcapital requirements. The amount of additional financing needed will dependupon the maturity and objectives of the particular company. Each round ofventure financing (whether from us or other investors) is typically intended toprovide a borrower company with enough capital to reach the next majorvaluation milestone. If the funds provided are not sufficient, a company mayhave to raise additional capital at a price or at terms unfavorable to theexisting investors, including our Company. This additional financing or theavailability of any form of equity or debt capital is generally a function ofcapital market conditions that are beyond our control or any borrower company.Our management team may not be able to predict accurately the future capitalrequirements necessary for success of our Company or borrower companies.Additional funds may not be available from any source.

OUR LOAN PORTFOLIO ISAND MAY CONTINUE TO BE CONCENTRATED IN A LIMITED NUMBER OF LOAN PORTFOLIOCOMPANIES AND INDUSTRIES, WHICH WILL SUBJECT US TO A RISK OF SIGNIFICANT LOSSIF ANY OF THESE COMPANIES DEFAULTS ON ITS OBLIGATIONS UNDER ANY OF ITS DEBTINSTRUMENTS OR BY A DOWNTURN IN THE PARTICULAR INDUSTRY.

Our loan portfolio isand may continue to be concentrated in a limited number of borrower companiesand industries. We do not have fixed guidelines for diversification, and whilewe are not targeting any specific industries, our investments are, and couldcontinue to be, concentrated in relatively few industries. As a result, theaggregate returns we realize may be significantly adversely affected if a smallnumber of investments perform poorly or if we need to write down the value ofany one investment. Additionally, a downturn in any particular industry inwhich we are invested could also significantly impact the aggregate returns werealize.

WE WILL NOT CONTROL ANYOF OUR BORROWER COMPANIES.

We will not control anyof our borrower companies, even though we may have financial observationrights. As a result, we are subject to the risk that a borrower company inwhich we invest may make business decisions with which we disagree, may takerisks or otherwise act in ways that do not serve our interests.

WE MAY NOT REALIZE GAINSFROM OUR INVESTMENT ASSETS.

Ourgoal is ultimately to dispose of any equity interests we receive from ourborrower companies to attempt to realize gains upon our disposition of suchinterests. 

-24- 

However, any equity interests we receive may not appreciate in value and, infact, may decline in value. Accordingly, we may not be able to realize gainsfrom any equity interests, and any gains that we do realize on the dispositionof any equity interests may not be sufficient to offset any other losses weexperience.

THE INABILITY OF OURBORROWER COMPANIES TO COMMERCIALIZE THEIR TECHNOLOGIES OR CREATE OR DEVELOPCOMMERCIALLY VIABLE PRODUCTS OR BUSINESSES WOULD HAVE A NEGATIVE IMPACT ON OURINVESTMENT RETURNS.

The possibility that ourborrower companies will not be able to commercialize their technology, productsor business concepts presents significant risks to the value of our loans.Additionally, although some of our borrower companies may already have acommercially successful product or product line when we invest, technology relatedproducts and services often have a more limited market or life span than haveproducts in other industries. Thus, the ultimate success of these companiesoften depends on their ability to continually innovate in increasinglycompetitive markets. Their inability to do so could affect our investmentreturn. We cannot assure you that any of our borrower companies willsuccessfully acquire or develop any new technologies, or that the intellectualproperty the companies currently hold will remain viable. Even if our borrowercompanies are able to develop commercially viable products, the market for newproducts and services is highly competitive and rapidly changing. Neither ourborrower companies nor we have any control over the pace of technologydevelopment. Commercial success is difficult to predict, and the marketingefforts of our borrower companies may not be successful.

**RISK FACTORS RELATING TOOUR BUSINESS**

WE HAVE INCURREDSIGNIFICANT LOSSES AND ANTICIPATE FUTURE LOSSES.

As of December 31, 2016,we had an accumulated deficit of ($2,993,815).

Future losses are likelyto occur until we are able to receive returns on our loans and investmentssince we have no other sources of income to meet our operating expenses. As aresult of these, among other factors, we received from our registeredindependent public accountants in their report for the financial statements forthe years ended December 31, 2016 and 2015, an explanatory paragraph statingthat there is substantial doubt about our ability to continue as a goingconcern.

OUR EXISTING FINANCIALRESOURCES ARE INSUFFICIENT TO MEET OUR ONGOING OPERATING EXPENSES.

We have no sources ofincome at this time and insufficient assets to meet our ongoing operatingexpenses. In the short term, unless we are able to raise additional debt and,or, equity we shall be unable to meet our ongoing operating expenses. On alonger term basis, we intend to merge with another entity with experiencedmanagement and opportunities for growth in return for shares of our commonstock to create value for our shareholders. There can be no assurance thatthese events will be successfully completed.

BECAUSE INSIDERS CONTROLOUR ACTIVITIES, THAT MAY CAUSE US TO ACT IN A MANNER THAT IS MOST BENEFICIAL TOTHEM AND NOT TO OUTSIDE SHAREHOLDERS WHICH COULD CAUSE US NOT TO TAKE ACTIONSTHAT OUTSIDE INVESTORS MIGHT VIEW FAVORABLY

Our executive officers,directors, and holders of 5% or more of our issued and outstanding common stockthrough International Hedge Group, Inc. beneficially own approximately 95% ofour issued and outstanding common stock and the Super Majority Voting Class APreferred Stock. As a result, they effectively control all matters requiringdirector and stockholder approval, including the election of directors, theapproval of significant corporate transactions, such as mergers and relatedparty transaction. These insiders also have the ability to delay or perhapseven block, by their ownership of our stock, an unsolicited tender offer. Thisconcentration of ownership could have the effect of delaying, deterring orpreventing a change in control of our company that you might view favorably.

-25- 

OURTWO OFFICERS AND DIRECTORS HAVE THE ABILITY TO EFFECTIVELY CONTROLSUBSTANTIALLY ALL ACTIONS TAKEN BY STOCKHOLDERS.

Mr. Harris and Mr.Kurczodyna, the officers and directors of the Company and of our parent,International Hedge Group, Inc. ("IHG") control in excess of our 95% of ourissued and outstanding common stock through IHG and are able to effectivelycontrol substantially all actions taken by our stockholders, including theelection of directors. Such concentration of ownership could also have theeffect of delaying, deterring or preventing a change in control that mightotherwise be beneficial to stockholders and may also discourage the market forour stock due to the concentration.

WE MAY DEPEND UPONOUTSIDE ADVISORS, WHO MAY NOT BE AVAILABLE ON REASONABLE TERMS AND AS NEEDED.

To supplement thebusiness experience of our officers and directors, we may be required to employaccountants, technical experts, appraisers, attorneys, or other consultants oradvisors. Our Board without any input from stockholders will make the selectionof any such advisors. Furthermore, it is anticipated that such persons may beengaged on an "as needed" basis without a continuing fiduciary orother obligation to us. In the event we consider it necessary to hire outsideadvisors, we may elect to hire persons who are affiliates, if they are able toprovide the required services.

**RISKS RELATING TO OURLOANS OR INVESTMENTS**

THE INABILITY OF OURBORROWER COMPANIES TO ADEQUATELY EXECUTE THEIR GROWTH OR EXPANSION STRATEGIESWOULD HAVE A NEGATIVE IMPACT ON OUR LOAN OR INVESTMENT RETURNS.

The possibility that ourborrower companies will not be able to fully carry out or execute on theirexpansion or growth plans presents significant risk. Our loans or investment inour borrower companies will ultimately depend on the success of our borrowercompany or our ability to be repaid loans or liquidate securities acquired byus in the borrower company. If the intended expansion or growth plan that wasone of the main reasons we had originally loaned does not come to fruition oris otherwise impeded, loan market value of the borrower company's stock may negativelyreflect this information, making our investment not profitable or may subjectus to a substantial loss. Further, we may loan to or invest in borrowercompanies for which no market for its securities exists, in which case, theborrower companies failure to complete or execute its expansion or growth planmay severely inhibit our repayment. In such case, we may incur an entire lossof our investment.

OUR BORROWER COMPANIESWILL LIKELY HAVE SIGNIFICANT COMPETITION FROM MORE ESTABLISHED COMPANIES ASWELL AS INNOVATIVE EARLY STAGE COMPANIES.

Emerging growthcompanies often face significant competition, both from early stage companiesand from more established companies. Early stage competitors may have strategiccapabilities such as an innovative management team or an ability to reactquickly to changing market conditions, while more established companies maypossess significantly more experience and greater financial resources than ourborrower companies. These factors could affect our investment returns.

OUR INVESTMENT RETURNSWILL DEPEND ON THE SUCCESS OF OUR BORROWER COMPANIES AND, ULTIMATELY, THEABILITIES OF THEIR KEY PERSONNEL.

Our success will dependupon the success of our borrower companies. Their success, in turn, will dependin large part upon the abilities of their key personnel. The day-to-dayoperations of our borrower companies will remain the responsibility of theirkey personnel. The loss of one or a few key managers can hinder or delay acompany's implementation of its business plan. Our borrower companies may notbe able to attract qualified managers and personnel. Any inability to do so maynegatively impact our investment returns.

-26- 

SOMEOF OUR BORROWER COMPANIES MAY NEED ADDITIONAL CAPITAL, WHICH MAY NOT BE READILYAVAILABLE.

Companies in which wemake expansion or mezzanine round loans will often require substantialadditional financing to fully execute their growth strategies. Each round ofventure financing is typically intended to provide a company with only enoughcapital to reach the next stage of development, or in the case of ourfinancings, the turn around stage or offering stage which might provide us witha liquidity event. We cannot predict the circumstances or market conditionsunder which our borrower companies may seek additional capital. It is possiblethat one or more of our borrower companies will not be able to raise additionalfinancing or may be able to do so at a price or on terms which are unfavorableto us, either of which could negatively impact our investment returns.

**RISKS RELATED TOOUR COMMON STOCK**

A LIMITED PUBLIC MARKETEXISTS FOR OUR COMMON STOCK AT THIS TIME, AND THERE IS NO ASSURANCE OF A FUTUREMARKET.

There is a limitedpublic market for our common stock, and no assurance can be given that a marketwill continue or that a shareholder ever will be able to liquidate hisinvestment without considerable delay, if at all. If a market should continue,the price may be highly volatile. Factors such as those discussed in the "RiskFactors" section may have a significant impact upon the market price of theshares offered hereby. Due to the low price of our securities, many brokeragefirms may not be willing to effect transactions in our securities. Even if apurchaser finds a broker willing to effect a transaction in our shares, thecombination of brokerage commissions, state transfer taxes, if any, and anyother selling costs may exceed the selling price. Further, many lendinginstitutions will not permit the use of our shares as collateral for any loans.

OUR STOCK WILL, IN ALLLIKELIHOOD, BE THINLY TRADED AND AS A RESULT YOU MAY BE UNABLE TO SELL AT ORNEAR ASK PRICES OR AT ALL IF YOU NEED TO LIQUIDATE YOUR SHARES.

The shares of our commonstock may be thinly-traded. We are a small company which is relatively unknownto stock analysts, stock brokers, institutional stockholders and others in theinvestment community that generate or influence sales volume, and that even ifwe came to the attention of such persons, they tend to be risk-averse and wouldbe reluctant to follow an unproven, early stage company such as ours orpurchase or recommend the purchase of any of our securities until such time aswe became more seasoned and viable. As a consequence, there may be periods ofseveral days or more when trading activity in our securities is minimal ornon-existent, as compared to a seasoned issuer which has a large and steadyvolume of trading activity that will generally support continuous sales withoutan adverse effect on Securities price. We cannot give you any assurance that abroader or more active public trading market for our common securities willdevelop or be sustained, or that any trading levels will be sustained. Due tothese conditions, we can give stockholders no assurance that they will be ableto sell their shares at or near ask prices or at all if they need money orotherwise desire to liquidate their securities.** **

OUR COMMON STOCK MAY BEVOLATILE, WHICH SUBSTANTIALLY INCREASES THE RISK THAT YOU MAY NOT BE ABLE TOSELL YOUR SECURITIES AT OR ABOVE THE PRICE THAT YOU MAY PAY FOR THE SECURITY.** **

Because of the possibleprice volatility, you may not be able to sell your shares of common stock whenyou desire to do so. The inability to sell your securities in a rapidlydeclining market may substantially increase your risk of loss because of suchilliquidity and because the price for our securities may suffer greaterdeclines because of our price volatility.

The price of our commonstock that will prevail in the market after this offering may be higher orlower than the price you may pay. Certain factors, some of which are beyond ourcontrol, that may cause our share price to fluctuate significantly include, butare not limited to the following:
- Variations in our     quarterly operating results;
- Loss of a key     relationship or failure to complete significant transactions;
- Additions or     departures of key personnel; and
-  Fluctuations in stock market price and volume.

-27- 

Additionally, in recentyears the stock market in general, has experienced extreme price and volumefluctuations. In some cases, these fluctuations are unrelated ordisproportionate to the operating performance of the underlying company. Thesemarket and industry factors may materially and adversely affect our stockprice, regardless of our operatingperformance. In the past, class action litigation often has been broughtagainst companies following periods of volatility in the market price of thosecompanies common stock. If we become involved in this type of litigation in thefuture, it could result in substantial costs and diversion of managementattention and resources, which could have a further negative effect on yourinvestment in our stock.

THE REGULATION OF PENNYSTOCKS BY THE SEC AND FINRA MAY DISCOURAGE THE TRADABILITY OF OUR SECURITIES.

We are a "penny stock"company, as our stock price is less than $5.00 per share. If we are able toobtain an exchange listing for our stock, we cannot make an assurance that wewill be able to maintain a stock price greater than $5.00 per share and if theshare price was to fall to such prices, that we wouldn't be subject to thePenny Stocks rules. None of our securities currently trade in any market and,if ever available for trading, will be subject to a Securities and ExchangeCommission rule that imposes special sales practice requirements uponbroker-dealers who sell such securities to persons other than establishedcustomers or accredited stockholders. For purposes of the rule, the phrase"accredited stockholders" means, in general terms, institutions with assets inexcess of $5,000,000, or individuals having a net worth in excess of $1,000,000or having an annual income that exceeds $200,000 (or that, when combined with aspouse's income, exceeds $300,000). For transactions covered by the rule, thebroker-dealer must make a special suitability determination for the purchaserand receive the purchaser's written agreement to the transaction prior to thesale. Effectively, this discourages broker-dealers from executing trades inpenny stocks. Consequently, the rule will affect the ability of purchasers inthis offering to sell their securities in any market that might developtherefore because it imposes additional regulatory burdens on penny stocktransactions.

In addition, theSecurities and Exchange Commission has adopted a number of rules to regulate"penny stocks". Such rules include Rules 3a51-1, 15g-1, 15g-2, 15g-3,15g-4, 15g-5, 15g-6, 15g-7, and 15g-9 under the Securities and Exchange Act of1934, as amended. Because our securities constitute "penny stocks" within themeaning of the rules, the rules would apply to us and to our securities. Therules will further affect the ability of owners of shares to sell oursecurities in any market that might develop for them because it imposes additionalregulatory burdens on penny stock transactions.

Stockholders should beaware that, according to Securities and Exchange Commission, the market forpenny stocks has suffered in recent years from patterns of fraud and abuse.Such patterns include (i) control of the market for the security by one or afew broker-dealers that are often related to the promoter or issuer; (ii)manipulation of prices through prearranged matching of purchases and sales andfalse and misleading press releases; (iii) "boiler room" practices involvinghigh-pressure sales tactics and unrealistic price projections by inexperiencedsales persons; (iv) excessive and undisclosed bid-ask differentials and markupsby selling broker-dealers; and (v) the wholesale dumping of the same securitiesby promoters and broker-dealers after prices have been manipulated to a desiredconsequent investor losses. Our management is aware of the abuses that haveoccurred historically in the penny stock market. Although we do not expect tobe in a position to dictate the behavior of the market or of broker-dealers whoparticipate in the market, management will strive within the confines ofpractical limitations to prevent the described patterns from being establishedwith respect to our securities.

Inventory in pennystocks have limited remedies in the event of violations of penny stock rules.While the courts are always available to seek remedies for fraud against us,most, if not all, brokerages require their customers to sign mandatoryarbitration agreements in conjunctions with opening trading accounts. Sucharbitration may be through an independent arbiter. Stockholders may file acomplaint with FINRA against the broker allegedly at fault, and FINRA may bethe arbiter, under FINRA rules. Arbitration rules generally limit discovery andprovide more expedient adjudication, but also provide limited remedies indamages 

-28- 

usually only the actual economic loss in the account. Stockholders shouldunderstand that if a fraud case is filed an against a company in the courts itmay be vigorously defended and may take years and great legal expenses and coststo pursue, which may not be economically feasible for small stockholders.

Thatabsent arbitration agreements, specific legal remedies available to stockholdersof penny stocks include the following:

If apenny stock is sold to the investor in violation of the requirements listedabove, or other federal or states securities laws, the investor may be able tocancel the purchase and receive a refund of the investment.

If apenny stock is sold to the investor in a fraudulent manner, the investor may beable to sue the persons and firms that committed the fraud for damages.

Thefact that we are a penny stock company will cause many brokers to refuse tohandle transactions in the stocks, and may discourage trading activity andvolume, or result in wide disparities between bid and ask prices. These maycause stockholders significant illiquidity of the stock at a price at whichthey may wish to sell or in the opportunity to complete a sale. Stockholderswill have no effective legal remedies for these illiquidity issues.* *

WE WILLPAY NO FORESEEABLE DIVIDENDS IN THE FUTURE.

We havenot paid dividends on our common stock and do not ever anticipate paying suchdividends in the foreseeable future. Stockholders whose investment criteria aredependent on dividends should not invest in our common stock.** **

RULE144 SALES IN THE FUTURE MAY HAVE A DEPRESSIVE EFFECT ON OUR STOCK PRICE.

All ofthe outstanding shares of common stock are held by our present officers,directors, and affiliate stockholders as "restricted securities"within the meaning of Rule 144 under the Securities Act of 1933, as amended. Asrestricted shares, these shares may be resold only pursuant to an effectiveregistration statement or under the requirements of Rule 144 or otherapplicable exemptions from registration under the Act and as required underapplicable state securities laws. Rule 144 provides in essence that a personwho has held restricted securities for six months may, under certainconditions, sell every three months, in brokerage transactions, a number ofshares that does not exceed the greater of 1.0% of a company's outstandingcommon stock or the average weekly trading volume during the four calendarweeks prior to the sale. There is no limit on the amount of restrictedsecurities that may be sold by a non-affiliate after the owner has held therestricted securities for a period of two years. A sale under Rule 144 or underany other exemption from the Act, if available, or pursuant to subsequentregistration of shares of common stock of present stockholders, may have adepressive effect upon the price of the common stock in any market that maydevelop.* *

OURSTOCKHOLDERS MAY SUFFER FUTURE DILUTION DUE TO ISSUANCES OF SHARES FOR VARIOUSCONSIDERATIONS IN THE FUTURE.

Theremay be substantial dilution to BlackStar Enterprise Group, Inc. stockholders asa result of future decisions of the Board to issue shares without shareholderapproval for cash, services, or acquisitions.

WE HAVENOT IDENTIFIED BUT ONE OF THE BORROWER COMPANIES TO WHICH WE WILL LOAN OR INWHICH WE MAY INVEST.

We haveonly loaned money to one borrower company, Meshworks Media Corporation, and maytake time to find another finance candidate.

-29- 

FUTUREDILUTION MAY OCCUR DUE TO ISSUANCES OF SHARES FOR VARIOUS CONSIDERATION IN THEFUTURE.

Theremay be substantial dilution to our shareholders as a result of future decisionsof the Board to issue shares without shareholder approval for cash, services,acquisitions, or pursuant to any future Employee/Consultant Stock Option Plan. *** ***

OURNEW INVESTORS WILL SUFFER A DISPROPORTIONATE RISK AND THERE WILL BE IMMEDIATEDILUTION OF PURCHASERS' INVESTMENTS.

Ourpresent shareholders have acquired their securities at a cost significantlyless than that which the investors at which future purchasers in the market maypay. Therefore, new investors will bear most of the risk of loss. *** ***

OURBUSINESS IS HIGHLY SPECULATIVE AND THE INVESTMENT IS THEREFORE HIGHLY RISKY.

Dueto the speculative nature of our business, it is probable that the investmentin shares offered hereby will result in a total loss to the investor. Investorsshould be able to financially bear the loss of their entire investment.Investment should, therefore, be limited to that portion of discretionary fundsnot needed for normal living purposes or for reserves for disability andretirement.

Theongoing economic downturn and continued uncertainty in the financial markets andother adverse changes in general economic or political conditions may adverselyaffect our industry, business and results of operations.

Theglobal credit and financial markets have continued to experience disruptions,including diminished liquidity and credit availability, declines in consumerconfidence, declines in economic growth, increases in unemployment rates, anduncertainty about economic stability. There can be no assurance that there willnot be future deterioration in credit and financial markets and confidence ineconomic conditions. These economic uncertainties affect businesses such asours in a number of ways, making it difficult to accurately forecast and planour future business activities. We are unable to predict the likely duration andseverity of the current disruptions in the credit and financial markets andadverse global economic conditions, and if the current uncertain economicconditions continue or further deteriorate, our business and results ofoperations could be materially and adversely affected.

POTENTIALCHANGES IN ACCOUNTING PRACTICES AND/OR TAXATION MAY ADVERSELY AFFECT OURFINANCIAL RESULTS.

Wecannot predict the impact that future changes in accounting standards orpractices may have on our financial results. New accounting standards could beissued that change the way we record revenues, expenses, assets andliabilities. These changes in accounting standards could adversely affect ourreported earnings. Increases in direct and indirect income tax rates could affectafter tax income. Equally, increases in indirect taxes could affect ourproducts affordability and reduce our sales.

WEWILL RELY ON THIRD PARTIES FOR SERVICES IN CONDUCTING OUR BUSINESS AND ANYDISRUPTION OF THESE RELATIONSHIPS COULD ADVERSELY AFFECT OUR BUSINESS.

Wewill have contracts with third parties. If these relationships are disruptedfor any reason our results of operation and financial condition could beadversely affected.*** ***

REPORTINGINFORMATION.

OurCompany is subject to the reporting requirements under the Securities andExchange Act of 1934. As a result, shareholders will have ready access to theinformation required to be reported by publicly held companies under theSecurities and Exchange Act and the regulations thereunder. Our Company intendsto provide our shareholders with annual reports containing financialinformation prepared in accordance with Generally Accepted AccountingPrinciples as required by  

-30- 

Sec. 13 of the Securities Exchange Act of 1934. As aresult, we will be subject to legal and accounting expenses that privatecompanies are not subject to and this could affect our ability to generateoperating income.** **

LIMITEDFINANCING - LACK OF LOAN AVAILABILITY.

Themonies currently on hand may not be sufficient for the continued expandedoperations of our Company. There is no assurance that additional monies orfinancing will be available in the future or, if available, will be at termsfavorable to our Company. (See "Business Summary")

OurCompany may borrow money to finance its operations on terms to be determined.Any such borrowing will increase the risk of loss to the investor in the eventour Company is unsuccessful in repaying such loans.

CAPITALRESOURCES.

Theonly capital resources of our Company are our shares.

**ITEM 1B. UNRESOLVED STAFF COMMENTS.**

None.

**ITEM 2. PROPERTIES.**

REALESTATE.

None.

OIL ANDGAS.

None.

PATENTS.

None.

**ITEM 3. LEGAL PROCEEDINGS.**

We are not currently involved in any litigation that we believecould have a material adverse effect on our financial condition or results ofoperations. There is no action, suite, proceeding, inquiry or investigationbefore or by any court, public board, government agency, self-regulatoryorganization or body pending or, to the knowledge of the executive officers ofour company or any of our subsidiaries, threatened against or affecting ourcompany, our common stock, any of our subsidiaries or of our companies or oursubsidiaries' officers or directors in their capacities as such, in which anadverse decision could have a material adverse effect. We anticipate that we(including current and any future subsidiaries) will from time to time becomesubject to claims and legal proceedings arising in the ordinary course ofbusiness. It is not feasible to predict the outcome of any such proceedings andwe cannot assure that their ultimate disposition will not have a materiallyadverse effect on our business, financial condition, cash flows or results ofoperations.

**ITEM 4. MINE SAFETY DISCLOSURE.**

Not applicable.

-31- 

**PART II**

**ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDERMATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.**

Our common stock is currently quoted on the OTC Pink under thesymbol "BEGI". Because we are quoted on the OTC Pink, our securities may beless liquid, receive less coverage by security analysts and news media, andgenerate lower prices than might otherwise be obtained if they were listed on anational securities exchange.

International Hedge Group, Inc. ("IHG"), ourparent company, contracted to acquire 95% of our outstanding stock in January2016 and closed on the purchase in summer of 2016. IHG is our controllingshareholder and is engaged in providing management services to companies, and,on occasion, capital consulting. IHG's strategy in investing in BlackStarEnterprise Group, Inc. is to own a controlling interest in a publicly quotedcompany which has the legal ability and mission to do loan based funding ofstart-up and developed business ventures using its stock for private placementor public offerings. IHG and BlackStar are managed and controlled by the sameindividuals, but IHG may seek its funding from different and as yet,undetermined sources, with funding structures of different natures.

The following table sets forth the high and low bid quotations forour common stock as reported on the OTC Pink for the periods indicated.

**Fiscal 2015**

** **

**Low**

** **

** **

**High**

** **

First Quarter - ended March 31, 2015

$

.06

$

.20

Second Quarter - ended June 30, 2015

$

.08

$

.08

Third Quarter - ended September 30, 2015

$

.06

$

.08

Fourth Quarter - ended December 31, 2015

$

.06

$

.06

**Fiscal 2016**

** **

**Low**

** **

** **

**High**

** **

First Quarter - ended March 31, 2016

$

.05

$

.06

Second Quarter - ended June 30, 2016

$

.04

$

.03

Third Quarter - ended September 30, 2016

$

.04

$

.55

Fourth Quarter - ended December 31, 2016

$

.35

$

1.15

**Holders.**

As of December 31, 2016, there are approximately 353 recordholders of 55,824,970 shares of our common stock.

**Dividends.**

As of the filing of this registration statement, we have not paidany dividends to stockholders. There are no restrictions which would limit ourability to pay dividends on common equity or that are likely to do so in thefuture. The Delaware General Corporation Laws, however, do prohibit us fromdeclaring dividends where, after giving effect to the distribution of thedividend; we would not be able to pay our debts as they become due in the usualcourse of business; or our total assets would be less than the sum of the totalliabilities plus the amount that would be needed to satisfy the rights ofstockholders who have preferential rights superior to those receiving thedistribution.

Class A Preferred Super Majority Voting Convertible Stock

The Certificate of Incorporation of the Company authorizes theissuance of up to ten million (10,000,000) shares of Preferred Stock, $0.001par value per share (herein, "Preferred Stock" or "Preferred Shares"), andexpressly vests in the Board of Directors of the Company the authority providedtherein to issue any or all of the Preferred Shares in one (1) or more Class orclasses and by resolution or resolutions to establish the designation andnumber and to fix the relative rights and preferences of each Class to beissued. The Board authorized One Million (1,000,000) of the Ten Million(10,000,000) authorized shares of Preferred Stock of the Company to bedesignated Class A Preferred Convertible Stock, $0.001 par value per share, andshall possess the rights and preferences set forth below:

-32- 

Rank. The ClassA Preferred Convertible Stock shall rank: (i) senior to any other class orClass of outstanding Preferred Shares or Class of capital stock of the Company;(ii) prior to all of the Company's Common Stock, ("Common Stock");and (iii) prior to any other class or Class of capital stock of the Companyhereafter created "Junior Securities"); and in each case as todistributions of assets upon liquidation, dissolution or winding up of theCompany, whether voluntary or involuntary (all such distributions beingreferred to collectively as "Distributions").

Dividends. The Class APreferred Convertible Stock shall bear no dividends, except that in the eventdividends are declared for common stock, the same rate of dividend per shareshall be due and payable to the Class A Preferred shareholders on the sameterms.

Liquidation / Merger Preference.

(a)       Solong as a majority of the shares of Class A Preferred authorized are outstanding,the Company will not, without the written consent of the holders of at least51% of the Company's outstanding Class A Preferred, either directly or byamendment, merger, consolidation, or otherwise: (i) liquidate, dissolve orwind-up the affairs of the Company, or effect any Liquidation Event;(ii) amend, alter, or repeal any provision of the Certificate ofIncorporation or Bylaws in a manner adverse to the Class A Preferred(iii) create or authorize the creation of, or issue any other securityconvertible into or exercisable for, any equity security, having rights,preferences or privileges senior to the Class A Preferred, or (iv) purchase orredeem or pay any dividend on any capital stock prior to the Class A Preferred,other than stock repurchased from former employees or consultants in connectionwith the cessation of their employment/services.

(b)       Inthe event of any liquidation, merger, dissolution or winding up of the Company,either voluntary or involuntary, the holders of shares of Class A PreferredConvertible Stock (each a "Holder" and collectively the "Holders") shall beentitled to receive, prior in preference to any distribution to JuniorSecurities, an amount per share equal to $.01 plus any allocable and duedividends per share. 

(c)       Uponthe completion of the distribution required to Class A holders, if assetsremain in the Company, they shall be distributed to holders of JuniorSecurities in accordance with the Company's Certificate of Incorporationincluding any duly adopted Certificate(s) of Designation.

Conversion Rights:** **

The Holders of the Class A Preferred ConvertibleStock shall, individually and collectively, have the right to convert all oftheir Class A Preferred Convertible Stock, in one transaction, by electing, inwriting, to convert the 1,000,000 shares of Class A Preferred Stock into sharesof Common Stock of the Company, on the basis of 100 common shares for eachshare of Class A Preferred Stock, subject to adjustment **          **

Adjustment to Conversion Rate. The conversionprice will be subject to adjustments for stock dividends, splits, combinationsand similar events and to Adjustment Due to Merger, Consolidation, Etc*.*If,prior to the conversion of all Class A Preferred Convertible Stock, there shallbe any merger, consolidation, exchange of shares, recapitalization,reorganization, or other similar event, as a result of which shares of CommonStock of the Company shall be changed into the same or a different number ofshares of the same or another class or classes of stock or securities of theCompany or another entity or there is a sale of all or substantially all theCompany's assets, then the Holders of Class A Preferred Convertible Stock shallthereafter have the right to receive upon conversion of Class A PreferredConvertible Stock, upon the basis and upon the terms and conditions specifiedherein and in lieu of the shares of Common Stock immediately theretoforeissuable upon conversion, such stock, securities and/or other assets ("NewAssets") which the Holder would have been entitled to receive in suchtransaction had the Class A Preferred Convertible Stock been convertible intoNew Assets from the date hereof, at the market price of such New Assets on thedate of conversion, and in any such case appropriate provisions shall be madewith respect to the rights and interests of the Holders of the Class APreferred Convertible Stock to the end that the provisions hereof (including,without limitation, provisions for the adjustment of the conversion price and ofthe number of shares of Common Stock issuable or New Assets deliverable uponconversion of the Class A Preferred Convertible Stock) shall thereafter beapplicable, as nearly as may be practicable in relation to any securitiesthereafter deliverable upon the exercise here.

-33- 

Redemption by Company. TheCompany may, at its sole discretion redeem all or any portion of the Class APreferred Convertible Stock by paying in cash by wire transfer the stated valueof US $50.00 per share, plus all accrued and unpaid dividends on the Class APreferred Convertible Stock to be redeemed, to the Holder pursuant to theHolder's written instructions. The Holders may convert Class A PreferredConvertible Stock into Common Stock of the Company until such cash has beentransmitted to the Holder, at which time conversion rights shall cease and theHolder shall surrender all redeemed Class A Preferred Certificates to theCompany for cancellation.

Super Majority Voting Rights. The recordHolders of the Class A Preferred Convertible Stock shall have the right to voteon any matter with holders of Common Stock and may vote as required on anyaction, which Delaware law provides may or must be approved by vote or consentof the holders of the specific Class of voting preferred shares and the holdersof common shares. The Record Holders of the Class A Preferred Shares shall havethe right to vote on any matter with holders of common stock voting together asone (1) class. The Record Holders of the Class A Preferred Shares shall have thatnumber of votes (identical in every other respect to the voting rights of theholders of other Class of voting preferred shares and the holders of commonstock entitled to vote at any Regular or Special Meeting of the Shareholders)equal to that number of common shares which is not less than 60% of the voterequired to approve any action, which Delaware law provides may or must beapproved by vote or consent of the holders of other Class of voting preferredshares and the holders of common shares or the holders of other securitiesentitled to vote, if any.

**Securities Authorized for Issuance Under Equity CompensationPlans.**

None.

**Recent Sales of Unregistered Securities. **

We have sold securities in the past 2 years without registeringthe securities under the Securities Act of 1933 as shown in the followingtables:

**Shares Issued in Private Offering**

44,400,000 Common shares and 1,000,000 Class A Preferred SuperMajority Voting Convertible Shares were issued to International Hedge Group,Inc., for $200,000 in cash consideration and 34,000,000 (cashless) warrantsexercisable in 3 years @ $0.05 per share were issued to officers, and directorsand seven individuals. 250,000 shares of common were issued to William Brandfor services, and 162,579 shares of common were issued to Shelly D. Williamsfor services.

**Exemption from Registration Claimed**

Sales and issuances by us of the unregistered securities listedabove were made by us in reliance upon Rule 506 of Regulation D to theindividuals listed above. All of the individuals and/or entities listed abovethat purchased the unregistered securities were all known to us and ourmanagement, through pre-existing business relationships, as long standingbusiness associates, friends, and employees. All purchasers were providedaccess to all material information, which they requested, and all informationnecessary to verify such information and were afforded access to our managementin connection with their purchases. All purchasers of the unregisteredsecurities acquired such securities for investment and not with a view towarddistribution, acknowledging such intent to us. All certificates or agreementsrepresenting such securities that were issued contained restrictive legends,prohibiting further transfer of the certificates or agreements representingsuch securities, without such securities either being first registered orotherwise exempt from registration in any further resale or disposition. Eachpurchaser made written representation under Rule 506 of Regulation D, includingnet worth and sophistication. We required written representation that eachpurchaser who was not an accredited investor, either alone or with hispurchaser representative, had such knowledge and experience in financial andbusiness matters that he/she was capable of evaluating the merits and risks ofthe prospective investment, and the issuer reasonably believed (based onwritten representations) immediately prior to making any sale that thepurchaser came within this description.

-34- 

**Shares or Warrants Issued for Compensation or Services**

Since January 1, 2014 through December 20, 2016, we have issuedshares and Warrants of our common stock in exchange for services to theindividuals and the amounts set forth below.

William Brand (1)

250,000 shares of common stock

Shelly D. Williams (2)

162,579 shares of common stock

M.A. Littman

800,000 Warrants exercisable @ $0.05 per share for $20,000  receivable waiver

MATERIAL RELATIONSHIPS

(1)

Former Director/Officer

(2)

Non-Executive Secretary

**Exemption from Registration Claimed**

All of the sales by us of the unregistered securities listedimmediately above were made by us in reliance upon Section 4(a)(2) of the Act.All of the individuals and/or entities listed above that purchased the unregisteredsecurities were all known to us and our management, through pre-existingbusiness relationships, as long standing business associates, friends, andemployees. All purchasers were provided access to all material information,which they requested, and all information necessary to verify such informationand were afforded access to our management in connection with their purchases.All purchasers of the unregistered securities acquired such securities forinvestment and not with a view toward distribution, acknowledging such intentto us. All certificates or agreements representing such securities that wereissued contained restrictive legends, prohibiting further transfer of thecertificates or agreements representing such securities, without such securitieseither being first registered or otherwise exempt from registration in anyfurther resale or disposition.

ISSUER PURCHASES OF EQUITYSECURITIES

We did not repurchase any shares of our common stock during theyear ended December 31, 2016. 

**ITEM 6. SELECTED FINANCIAL DATA.**

Not applicable.

**ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS.**

***Forward-Looking Statements and Associated Risks.***

*This form 10-K contains certain statements thatare forward-looking within the meaning of the Private Securities LitigationReform Act of 1995. For this purpose any statements contained in this Form 10-Kthat are not statements of historical fact may be deemed to be forward-lookingstatements. Without limiting the foregoing, words such as "may", "will","expect", "believe", "anticipate", "estimate, or "continue" or comparableterminology are intended to identify forward-looking statements. Thesestatements by their nature involve substantial risks and uncertainties, andactual results may differ materially depending on a variety of factors, many ofwhich are not within our control. These factors include but are not limited toeconomic conditions generally and in the industries in which we mayparticipate; competition within our chosen industry, including competition frommuch larger competitors; technological advances and failure to successfullydevelop business relationships.*

Based on our financial history since inception, our auditorhas expressed substantial doubt as to our ability to continue as a goingconcern. As reflected in the accompanying financial statements, as of December31, 2016, we had an accumulated deficit totaling $2,993,815. This raisessubstantial doubts about our ability to continue as a going concern.

-35- 

**Plan of Operation**

We intend to expend funds over the next four quarters asfollows:

2nd Quarter 2017

•          Loans

•          $250,000

•          Operations

•          $50,000

3rd Quarter 2017

•          Loans

•          $250,000

•          Operations

•          $50,000

4th Quarter 2017

•          Loans

•          $250,000

•          Operations

•          $50,000

1st Quarter 2018

•          Loans

•          $250,000

•          Operations

•          $50,000

Our Budget for operations in the next year is as follows:

Working Capital - Loans

$1,000,000

Legal, Audit and Accounting

$100,000

Fees, rent, travel and general &  administrative expenses

$100,000

**$1,200,000**

TheCompany may change any or all of the budget categories in the execution of itsbusiness model. None of the line items are to be considered fixed orunchangeable. The Company may need substantial additional capital to supportits budget. We have not recognized revenues from our operational activities.

Basedon our current cash reserves of approximately $14,175 as of December 31, 2016,we have the cash for an operational budget of three months.  Weintend to offer a private placement of stock or Notes to investors in order toachieve $1,200,000 in funding in the next six months. We intend to commencethis offering in late Spring of 2017. If we are unable to generate enoughrevenue to cover our operational costs, we will need to seek additional sourcesof funds.  Currently, we have no committed source for any funds asof date hereof.  No representation is made that any funds will beavailable when needed.  In the event funds cannot be raised if and whenneeded, we may not be able to carry out our business plan and could fail in businessas a result of these uncertainties.

-36- 

Theindependent registered public accounting firm's report on our financialstatements as of December 31, 2016, includes a "going concern" explanatoryparagraph that describes substantial doubt about our ability to continue as agoing concern.

Whileour cash reserves were only $14,175, our parent company, IHG, has agreed tofund on an interim basis any shortfall in our cash reserves. We would use ourfunds to pay legal, accounting, office rent and general and administrativeexpense. We have estimated $50,000 per quarter in 2017 in operations costswhich includes legal, accounting, travel, general and administrative, audit,rent, telephones and miscellaneous.

Wereceived the funding to loan the monies to Meshworks from our parent, IHG, inthe form of two loans to BlackStar for a total of $500,000. The notes are threeyear notes payable at 6% interest per year.

**Results of Operations**

We had minimal operations and no revenues in 2015, incurring$2,800 in expenses resulting in a loss of ($2,800) for the year ended December31,2015. In summer of 2016, we achieved capital of $100,000, in our efforts torecapitalize the Company. We had no revenues during the year ended December 31,2016. Due to startup and administrative expenses, stock issuances, warrantexpenses of $1,328,000 and consulting fees, we incurred a loss of ($1,064,678)for the period. 

We had income (gain) on settlement of debt for the yearended December 31, 2016 of $270,822, which resulted in a net loss for theperiod of ($1,154,285) or ($0.06) per share. For the year ended December 31,2015, we had a net loss of ($17,800).

**Liquidity and Capital Resources.**

Our total assets were $265,604 as of December 31, 2016,consisting of cash of $14,175 and other assets. By comparison, our total assetswere $0 as of December 31, 2015. Our current liabilities as of December 31,2016 and 2015, respectively, totaled $151,066 and $343,681, which is comprisedof accounts payable of $1,066 and $26,423, notes payable of $0 and$200,000, to related parties, loan payable of $0 and $50,000, and accruedinterest payable of $0 and $67,258.

We intend to attempt to raise capital through severalsources: a) partner venture funds, b) private placements of our stock, c) loansfrom our parent IHG.

We do not have terms or committed sources of capital of anytype at this time. If we are able to raise additional capital, we intend tomake additional loans and would intend to use the funds repaid from the loansto a) retire debt, and b) fund additional loans to companies, and c) to provideoperational funds.

We have been, and intend to continue, working towardidentifying and obtaining new sources of financing. No assurances can be giventhat we will be successful in obtaining additional financing in thefuture.  Any future financing that we may obtain may causesignificant dilution to existing stockholders. Any debt financing or otherfinancing of securities senior to common stock that we are able to obtain willlikely include financial and other covenants that will restrict ourflexibility. Any failure to comply with these covenants would have a negativeimpact on our business, prospects, financial condition, results of operationsand cash flows.

If adequate funds are not available, we may be required todelay, scale back or eliminate portions of our operations or obtain fundsthrough arrangements with strategic partners or others that may require us torelinquish rights to certain of our assets. Accordingly, the inability toobtain such financing could result in a significant loss of ownership and/orcontrol of our assets and could also adversely affect our ability to fund ourcontinued operations and our expansion efforts.

We do not anticipate that we will purchase any significantequipment over the next twelve months.

-37- 

We do not anticipate any significant changes in the numberof employee unless we significantly increase the size of our operations. Webelieve that we do not require the services of additional independentcontractors to operate at our current level of activity. However, if our levelof operations increases beyond the level that our current staff can provide, wemay need to supplement our staff in this manner.

Our auditor has expressed substantial doubt as to whether wewill be able to continue to operate as a "going concern" due to the fact thatthe Company has an accumulated deficit of $2,993,815 as of December 31, 2016,and has not yet established an ongoing source of revenues sufficient to coverits operating costs and allow it to continue as a going concern. The ability ofthe Company to continue as a going concern is dependent on the Companyobtaining the adequate capital to fund operating losses until it becomesprofitable. If the Company is unable to obtain adequate capital, it could beforced to cease operations.

***Financing Activities***

On January 25, 2016 the Company received and agreed to apurchase of its common stock from International Hedge Group, Inc. (IHG) topurchase a 95% controlling interest in the Company. At the closing IHG was toprovide the Company with a promissory note in the amount of $200,000 payableover a 180 day period in increments as the buyer is able to achieve funding. Asat the date of this 10-K the Company has received $200,000 in cash.

During the year ended December 31, 2016 the Company received$200,000 in private placement subscriptions for the Company's common stock andissued 44,400,000 shares of common stock and 1,000,000 shares of preferredstock. During the year ended December 31, 2016 the Company issued 1,312,549 toconsultants for services rendered and in exchange for debt, with the sharesvalued at $52,504.

During the year ended December 31, 2016, the Companyreceived $216,580 in shareholder contributions to be used in the Company'sregular activities. As of December 31, 2016, the Company has used these proceedson the Company's operations and purchases.

***Investing Activities***

The Company used $251,659 in investing activities for theyear ended December 31, 2016, with $1,659 going to fixed assets and $250,000being used on Notes Receivable.

***Operating Activities***

During the year ended December 31, 2016, the Company usedcash in the amount of $1,296,670 in operating activities, compared to $Nil overthe previous year. The increased operating expenses are due to the Company'sstartup of operations.

**Off Balance Sheet Arrangements**

None

**ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK.**

We are a smaller reporting company as defined by Rule 12b-2 of theSecurities Act of 1934 and are not required to provide the information underthis item.

-38- 

** **

**ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.**

**BLACKSTARENTERPRISE GROUP, INC.**

**FINANCIALSTATEMENTS**

**For theyears ended December 31, 2016 and 2015**

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - B.F.  BORGERS CPA PC

F-1

BALANCE SHEETS 

F-2

STATEMENTS OF OPERATIONS

F-3

STATEMENTS OF STOCKHOLDERS' DEFICIENCY

F-4

STATEMENTS OF CASH FLOWS

F-5

NOTES TO FINANCIAL STATEMENTS

F-6
 
 

 

 

 

-39- 

**REPORT OF INDEPENDENT REGISTERED PUBLICACCOUNTING FIRM**

** **

** **

**Tothe Board of Directors and Stockholders of Blackstar Enterprise Group, Inc.:**

** **

We have audited theaccompanying balance sheets of Blackstar Enterprise Group, Inc. ("the Company")as of December 31, 2016 and 2015 and the related statements of operations,stockholders' equity (deficit) and cash flows for the years then ended. Thesefinancial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements basedon our audit.  

 

We conducted our audits inaccordance with standards of the Public Company Accounting Oversight Board(United States). Those standards require that we plan and perform the audits toobtain reasonable assurance about whether the financial statements are free ofmaterial misstatement.  An audit includes examining, on a test basis,evidence supporting the amounts and disclosures in the financial statements,assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall financial statementpresentation.  We believe that our audits provide a reasonable basis forour opinions.  

 

In our opinion, the financialstatement referred to above present fairly, in all material respects, thefinancial position of Blackstar Enterprise Group, Inc., as of December 31, 2016and 2015, and the results of its operations and its cash flows for the yearsthen ended, in conformity with generally accepted accounting principles in theUnited States of America.

 

The company is not required tohave, nor were we engaged to perform, an audit of its internal control overfinancial reporting.  Our audits included consideration of internalcontrol over financial reporting as a basis for designing audit procedures thatare appropriate in the circumstances, but not for the purpose of expressing anopinion on the Company's internal control over financial reporting. Accordingly, we express no such opinion.

 

The accompanying financialstatements have been prepared assuming that the Company will continue as agoing concern. As discussed in Note 2 to the financial statements, theCompany's significant operating losses raise substantial doubt about itsability to continue as a going concern.  The financial statements do notinclude any adjustments that might result from the outcome of this uncertainty.

** **

/s/ BF Borgers CPA PC

**BF Borgers CPA PC**Lakewood, CO April 17, 2017

** **

F-1 

** **
    BLACKSTAR ENTERPRISE GROUP, INC.    CONDENSED BALANCE SHEETS                                December 31,      December 31,                2016      2015                     ASSETS                              Current assets                        Cash             $      14,175       $      -                                     -                            -        Total current assets                          14,175                          -                       Fixed assets                       Furniture and equipment                            1,659                          -             Accumulated depreciation                             (230)                         -        Total fixed assets                            1,429                          -                       Other assets                       Notes receivable                        250,000                          -        Total other assets                        250,000                          -                        Total Assets             $      265,604       $      -                                LIABILITIES & STOCKHOLDERS' DEFICIT                                 Current liabilities                         Accounts payable             $      1,066       $      26,423             Accrued interest payable                                -                      67,258             Loan payable                                -                      50,000             Notes payable                                -                    200,000               Loan payable - related party                        150,000                            -                 Total current liabilties                        151,066                  343,681                      Stockholders' Equity (Deficit)                       Preferred stock, 10,000,000 shares authorized                            with $0.001 par value. 1,000,000 and Nil                            shares issued and outstanding respectively                                   1,000                                    -            Common stock, 200,000,000 shares authorized                            with $0.001 par value. 55,824,970 and 11,112,421                             issued and outstanding at each period respectively                          55,825                    11,112                             Additional paid in capital                      1,691,528                1,484,737             Additional paid in capital - warrants                      1,360,000                Accumulated deficit                    (2,993,815)             (1,839,530)      Total Stockholders' Deficit                        114,538                 (343,681)                     Total Liabilities and Stockholders' Deficit             $      265,604       $     - 
* *

*See accompanying notes to the financial statements.*

F-2 

* *
    BLACKSTAR ENTERPRISE GROUP, INC.     CONDENSED STATEMENTS OF OPERATIONS                                                       Year Ended            December 31,                            2016      2015                   REVENUE            $     -         $     -              Cost of revenues                               -                         -        GROSS PROFIT                               -                         -                      Operating Expenses:                      Consulting fees                          6,250                       -             Depreciation                             230                       -             Legal and professional                         31,190                       -             Management consulting                         30,000              General and administrative                         21,937                  2,800               Total operating expenses                         89,607                  2,800                    Income (loss) from operations                       (89,607)                (2,800)                   Other income (expense)                      Gain on debt settlement                       270,822                         -           Warrant expense                   (1,328,000)                        -           Interest expense                         (7,500)              (15,000)              Other income (expense) net                   (1,064,678)              (15,000)                   Income (loss) before provision                    (1,154,285)              (17,800)          for income taxes                               Provision (credit) for income tax                                 -                         -                    Net income (loss)            $      (1,154,285)      $     (17,800)                   Net income (loss) per share                 (Basic and fully diluted)            $      (0.06)      $      (0.00)                   Weighted average number of                 common shares outstanding                   19,710,993          11,112,421 
* *

* *

*See accompanying notes to the financial statements.*

F-3 

* *
    BLACKSTAR ENTERPRISE GROUP, INC.    STATEMENT OF STOCKHOLDER'S EQUITY                                                        Common Stock     Preferred Stock                     Amount        Amount      Paid in      Accumulated        Stockholders'         Shares        ($0.001 Par)     Shares      ($0.001 Par)      Capital      Deficit      Deficit                             Balances - December 31, 2014        11,112,421       $     11,112                    -         $      -        $     1,484,737       $      (1,821,730)      $     (325,881)                              Net loss for the year                                                 (17,800)                  (17,800)                              Balances - December 31, 2015        11,112,421               11,112                    -                       -            1,484,737             (1,839,530)                 (343,681)                              Shares cancelled          (1,000,000)              (1,000)                    1,000                              -         Shares exchanged for debt          1,312,549                1,313                   51,191                        52,504       Shares issued for cash        44,400,000               44,400         1,000,000                1,000            154,600                      200,000       Warrants issued                    1,328,000                    1,328,000       Warrants issued for debt                       32,000                        32,000       Net loss for the year                                             (1,154,285)              (1,154,285)             55,824,970       $      55,825         1,000,000       $      1,000      $     3,051,528       $     (2,993,815)      $      114,538  
* *

* *

* *

* *

*See accompanying notes to the financial statements.*

F-4 

* *

* *
    BLACKSTAR ENTERPRISE GROUP, INC.    STATEMENTS OF CASH FLOWS                             For the Years Ended              December 31,              2016      2015                   Cash Flows From Operating Activities:                      Net income (loss)            $     1,154,285)     $     (17,800)                                     Adjustments to reconcile net loss to net cash used                      in operating activities:                      Depreciation                                230                             -        Changes in operating assets and liabilities                                  -                               -              Increase/(Decrease) in accounts payable                          (25,357)                       2,800            Increase/(Decrease) in accrued expenses                          (67,258)                      15,000            (Decrease) in Advances                          (50,000)                              -                                       -                               -      NET CASH USED IN OPERATING ACTIVITIES                      (1,296,670)                              -                    CASH FLOWS USED IN INVESTING ACTIVITIES                       Increase in Fixed Assets                            (1,659)              Increase in Notes Receivable                        (250,000)                            -       NET CASH USED IN INVESTING ACTIVITIES                        (251,659)                            -                     CASH FLOWS FROM FINANCING ACTIVITIES                       Notes payable retired                         (200,000)              Notes payable related party incurred                      150,000                  Sale of Common Stock                      251,504                  Sale of Preferred Stock                         1,000                  Paid in Capital Warrants                   1,360,000                                -       NET CASH PROVIDED BY FINANCING ACTIVITIES                   1,562,504                                  -                                  Net Increase (Decrease) In Cash                            14,175                               -                    Cash At The Beginning Of The Period                                    -                               -                    Cash At The End Of The Period            $      14,175      $     -                     Schedule of Non-Cash Investing and Financing Activities                                     Debt and accrued interest exchanged for common stock           $     317,258      $     -                $     -        $     -                      Supplemental Disclosure                               Cash paid for interest            $      -      $     -      Cash paid for income taxes            $      -      $     - 
 

* *

* *

*                                                                         Seeaccompanying notes to the financial statements.*

F-5 

**BlackStar EnterpriseGroup, Inc.**

**Notes to the FinancialStatements**

**For the Year EndedDecember 31, 2016 and 2015**

** **

**NOTE1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION**

BlackStarEnterprise Group, Inc. (the Company" or "BlackStar") was incorporated in theState of Delaware on December 18, 2007 as NPI08, Inc. ("NPI08"). In January2010, NPI08 acquired an ownership interest in Black Star Energy Group, Inc., aColorado Corporation. BlackStar Energy then merged into NPI08, with NPI08 beingthe surviving entity. Concurrently, NPI08 changed its name to BlackStar EnergyGroup, Inc. On January 25, 2016, International Hedge Group, Inc. signed anagreement to acquire a 95% interest in the Company. The name was changed toBlackStar Enterprise Group, Inc. in August of 2016. 

TheCompany is a Delaware corporation organized for the purpose of engaging in anylawful business. The Company intends to act as a merchant bank as at the dateof these financial statements. It currently trades on the Pink Sheets under thesymbol "BEGI".

TheCompany's fiscal year end is December 31st. The Company's financialstatements are presented on the accrual basis of accounting. The Company is asubsidiary of International Hedge Group, Inc., whose financial statements arenot presented here and are not consolidated herein.

**NOTE 2 - GOING CONCERN**

The Company's financial statements have beenprepared on a going concern basis, which contemplates the realization of assetsand the satisfaction of liabilities in the normal course of business. As shownin the financial statements for the years ended December 31, 2016 and 2015, theCompany has generated no revenues and has incurred losses. . These conditionsraise substantial doubt as to the Company's ability to continue as a goingconcern. These financial statements do not include any adjustments relating tothe recoverability and classification of recorded asset amounts, or amounts andclassification of liabilities that might be necessary should the Company beunable to continue as a going concern.

The continuation of the Company as a going concernis dependent upon the ability to raise equity or debt financing, and theattainment of profitable operations from the Company's planned business.Management cannot provide any assurances that the Company will be successful inaccomplishing any of its plans.

**NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**    

**Cash and cash equivalents**

The Company considers all cash on hand, cash accounts notsubject to withdrawal restrictions or penalties and all highly liquidinvestments with an original maturity of three months or less as cashequivalents.

**Revenue recognition**

The Company has realized minimal revenues from operations.The Company recognizes revenues when the sale and/or distribution of productsis complete, risk of loss and title to the products have transferred to thecustomer, there is persuasive evidence of an agreement, acceptance has beenapproved by the customer, the fee is fixed or determinable based on thecompletion of stated terms and conditions, and collection of any relatedreceivable is probable. Net sales will be comprised of gross revenues lessexpected returns, trade discounts, and customer allowances that will includecosts associated with off-invoice markdowns and other price reductions, as wellas trade promotions and coupons. The incentive costs will be recognized at thelater of the date on which the Company recognized the related revenue or thedate on which the Company offers the incentive.

**Basic and Diluted Loss per Share**

The Company computes loss per share in accordance with"ASC-260," "Earnings per Share" which requires presentation of both basic anddiluted earnings per share on the face of the statement of operations. Basicloss per share is computed by dividing net loss available to commonshareholders by the weighted average number of outstanding common share duringthe period. Diluted loss per share gives effect to all dilutive potentialcommon shares outstanding during the period. Diluted loss per share excludesall potential common shares if their effect is anti-dilutive.

**Income Taxes**

The Company accounts for income taxes pursuant to ASC 740.Under ASC 740 deferred taxes are provided on a liability method wherebydeferred tax assets are recognized for deductible temporary differences andoperating loss carryforwards and deferred tax liabilities are recognized fortaxable temporary differences. Temporary differences are the differencesbetween the reported amounts of assets and liabilities and their tax bases.

F-6 

The Company maintains a valuation allowance with respect todeferred tax asset. Blackstar Enterprise Group establishes a valuationallowance based upon the potential likelihood of realizing the deferred taxasset and taking into consideration the Company's financial position andresults of operations for the current period. Future realization of thedeferred tax benefit depends on the existence of sufficient taxable incomewithin the carry-forward period under Federal tax laws.

Changes in circumstances, such as the Company generatingtaxable income, could cause a change in judgment about the reliability of therelated deferred tax asset. Any change in the valuation allowance will beincluded in income in the year of the change estimate.

**Carrying Value, Recoverability and Impairment ofLong-Lived Assets**

The Company has adopted paragraph 360-10-35-17 of FASBAccounting Standards Codification for its long-lived assets. The Company's long-lived assets are reviewed for impairment whenever events or changes incircumstances indicate the carrying amount of an asset may not be recoverable.

The company assesses the recoverability of its long-livedassets by comparing the projected undiscounted net cash flows associated withthe related long-lived asset or group of assets over their remaining estimateduseful lives against their respective carrying amounts. Impairment, if any, isbased on the excess of the carrying amount over the fair value of those assets.Fair value is generally determined using the assets expected future discountedcash flows or market value, if readily determinable. If long-lived assets aredetermined to be recoverable, but the newly determined remaining estimateduseful lives are shorter than originally estimated, the net book values of thelong-lived assets are depreciated over the newly determined remaining estimateduseful lives.

 The Company considers the following to be some examples ofimportant indicators that may trigger an impairment review; (i) significantunder-performance or losses of assets relative to expected historical orprojected future operating results; (ii) significant changes in the manner oruse of assets or in the Company's overall strategy with respect to the mannerof use of the acquired assets or changes in the Company's overall businessstrategy; (iii) significant negative industry or economic trends; (iv)increased competitive pressures; (v) a significant decline in the Company'sstock price for a sustained period of time; and (vi) regulatory changes. TheCompany evaluates acquired assets for potential impairment indicators at leastannually and more frequently upon the occurrence of such events.

The impairment charges, if any, are included in operatingexpenses in the accompanying statements of operations.

**Use of Estimates**

The preparation of financial statements in conformity withaccounting principles generally accepted in the United States of Americarequires management to make estimates and assumptions that affect reportedamounts of assets and liabilities and disclosure of contingent assets andliabilities at the date of the financial statements and the reported amounts ofrevenues and expenses during the reporting period. Management bases itsestimates on historical experience and on various assumptions that are believedto be reasonable under the circumstances, the results of which form the basisfor making judgments about the carrying values of assets and liabilities thatare not readily apparent from other sources. 

The Company's significant estimates include income taxesprovision and valuation allowance  of deferred tax assets; the fair value offinancial instruments; the carrying value and recoverability of long-livedassets, and the assumption that the Company will continue as a going concern.Those significant accounting estimates or assumptions bear the risk of changedue to the fact that there are uncertainties attached to those estimates orassumptions, and certain estimates or assumptions are difficult to measure orvalue.

Management regularly reviews its estimates utilizingcurrently available information, changes in facts and circumstances, historicalexperience and reasonable assumptions. After such reviews, and if deemedappropriate, those estimates are adjusted accordingly. Actual results coulddiffer from those estimates.

**Fair value of Financial Instruments**

The estimated fair values of financial instruments weredetermined by management using available market information and appropriatevaluation methodologies. The carrying amounts of financial instrumentsincluding cash approximate their fair value because of their short maturities.

**Long Lived Assets**

In accordance with ASC 350 the Company regularly reviews thecarrying value of intangible and other long lived assets for the existence offacts or circumstances both internally and externally that suggest impairment.If impairment testing indicates a lack of recoverability, an impairment loss isrecognized by the Company if the carrying amount of a long lived asset exceedsits fair value.

F-7 

**Stock-based Compensation**

The Company accounts for stock-based compensation issued toemployees based on FASB accounting standard for Share Based Payment. Itrequires an entity to measure the cost of employee services received inexchange for an award of equity instruments based on the grant-date fair valueof the award (with limited exceptions). That cost will be recognized over theperiod during which an employee is required to provide service in exchange forthe award - the requisite service period (usually the vesting period). Itrequires that the compensation cost relating to share-based paymenttransactions be recognized in financial statements. That cost will be measuredbased on the fair value of the equity or liability instruments issued. Thescope of the FASB accounting standard includes a wide range of share-basedcompensation arrangements including share options, restricted share plans, performance-basedawards, share appreciation rights, and employee share purchase plans. TheCompany currently has no stock based compensation plan in place.

**Recent pronouncements**

Management has evaluated accounting standards andinterpretations issued but not yet effective as of December 31, 2016, and doesnot expect such pronouncements to have a material impact on the Company'sfinancial position, operations, or cash flows.

**NOTE 4 - CASH IN TRUST ACCOUNT**

Due to the Company's inability to open a bank account in itsown name, International Hedge Group opened a trust account on behalf of theCompany and paid various bills both current and previously outstanding for theCompany.  At such time as the Company is able to open accounts in its own namethese funds will be transferred to the Company accounts. During the month ofNovember 2016 the Company successfully opened an account in its own name andconsequently ceased using the trust account at the end of December 2016 for anybanking activities.

**NOTE 5 - PROPERTY, PLANT AND EQUIPMENT**

During the quarter ended September 30, 2016, the Companypurchased certain office equipment for a total of $1,659. This equipment isbeing depreciated over a three year life and the Company has recorded adepreciation expense of $230 for the current year.

**NOTE 6 - ACCRUED INTEREST PAYABLE**

The Company has been accruing interest on a note of $200,000dated July 11, 2011 and an advance of $50,000 dated September 23, 2011. Eachhas been accrued at a rate of 6% simple interest. At August 30, 2016 thisliability was settled in exchange for stock. For further detail the reader isadvised to refer to the note "**NOTES PAYABLE".**       

**NOTE 7 - STOCKHOLDER'S DEFICIT**

The total number of common shares authorized that may beissued by the Company is 200,000,000 shares with a par value of $0.001 pershare. The Company is authorized to issue 10,000,000 shares of preferred stockwith a par value of $0.001 per share. 

On August 25, 2016 the Company issued 1,000,000 shares ofits preferred series A stock to IHG in fulfillment of the purchase agreement.As at December 31, 2016 there are 1,000,000 preferred series A shares issuedand outstanding. These shares are convertible at a ratio of 100 shares of thecommon stock of the Company for each share of preferred stock of the Company.

As at December 31, 2016 the total number of common sharesoutstanding was 55,825,000. The Company has an ongoing program of privateplacements to raise funds to support the operations. During the period endedMarch 31, 2016 the Company entered into a purchase agreement with InternationalHedge Group, Inc. ("IHG") whereby certain existing stockholders would surrendertheir stock and IHG would acquire a 95% working interest in the Company. As atthe date of these financial statements only one of the stockholders hadcompleted the transaction. IHG's commitment was to provide at least $200,000 inworking capital within 6 months of the date of the agreement. As of theSeptember 30, 2016 financial statements IHG has provided $100,000 of the commitment.On June 30, 2016 the Company signed an extension agreement allowing for anextension to October 30, 2016 for fulfillment of this obligation. During themonth of October 2016 International Hedge Group fulfilled the commitment bypaying the remaining $100,000. 

During the quarter ended September, 30 2016 the Companyissued 1,322,579 shares of its common stock to satisfy certain accounts payableand notes payable plus accrued interest. The stock was valued at $0.04 pershare which valued the total debt relief at $52,903. The debts discharged inthese transactions were valued at $335,072. These transactions were withunrelated parties giving the Company a net gain of $282,569 as gain on debtrelief.

During the quarter ended September 30, 2016, the Companyissued 34,000,000 warrants for the purchase of its common stock at $0.05 pershare. Using the Black-Scholes valuation model the Company assigned a value of$1,360,000 to these warrants. The Company recorded an expense of $1,328,000 onthe operating statement for the quarter ended December 31, 2016. The Companyalso used 800,000 of these warrants to satisfy an account payable to a serviceprovider. The value of the debt discharged in this transaction was $20,253.This transaction was with an unrelated party giving the Company a net loss of$11,747 on the debt relief.

Total net gain on all debt relief transactions was $270,822.

F-8 

**Super Majority Voting Rights.**Therecord Holders of the Class A Preferred Convertible Stock shall have the rightto vote on any matter with holders of Common Stock and may vote as required onany action, which Delaware law provides may or must be approved by vote orconsent of the holders of the specific Class of voting preferred shares and theholders of common shares. The Record Holders of the Class  A PreferredShares shall have the right to vote on any matter with holders of common stockvoting together as one (1) class. The Record Holders of the Class A PreferredShares shall have that number of votes (identical in every other respect to thevoting rights of the holders of other Class of voting preferred shares and theholders of common stock entitled to vote at any Regula or 

Special Meeting of the Shareholders) equalto that number of common shares which is not less than60% of the vote requiredto approve any action, which Delaware law provides may or must be approved byvote or consent of the holders of other Class of voting preferred shares and theholders of common shares or the holders of other securities entitled to vote, ifany.

As at December 31, 2016 IHG is the holder of 79.53% if theoutstanding common stock. When the balance of the certificates to be cancelled,3,825,000, are cancelled then the percentage of ownership held by IHG will be85.38%. For purposes of control it is to be noted also that at such time as theClass A Preferred Convertible shares are converted at the designated ratio of100 shares of common stock for each share of Class A Preferred Convertible thenthe percentage of ownership will be 95.00%.

**NOTE 8 - WARRANTS**

At the time of the issuance of stocks referenced in Note 8the Company issued 34,000,000 warrants to purchase the Company's common stockat an exercise price of $0.05 These warrants have an exercise price of $0.05per share and an expiration date that is three years from the date of issuance.The warrants were issued to the existing shareholders of International HedgeGroup. There are 15 stockholders in IHG and 6 of these represent owners ofgreater than 5% of IHG stock. These 6 stockholders received 57.35% of thewarrants issued. 800,000 of these warrants were issued to satisfy outstandingaccounts payable. The payable amounted to $20,253 and the warrants were valuedat $32,000 giving rise to a loss of $11,747 on the settlement of debt.

Using the Black-Scholes valuation model a value of$1,328,000 is assigned to these warrants. The parameters used in theBlack-Scholes model were as follows: stock price $0.04; strike price $0.05;volatility 172%; risk free rate 1.75% and time to expiration of 3 years. Thisexpense is recorded on the books of the Company as "Warrant expense" with anoffsetting entry in the Stockholder's Deficit section as "Additional paid incapital - Warrants."

As at December 31, 2016 the Company has not received anynotifications with respect to any exercise of any outstanding warrants

Shares  Under Warrant

Exercise  Price

Remaining  Life

Balance at  December 31, 2015

0

0

0

Granted

                      34,000,000

 $              0.05 

3.00

Exercised

0

0

0

Expired

0

0

0

Balance at December  31, 2016

                      34,000,000 

 $              0.05 

2.33

**NOTE 9 - INCOME TAXES**

A reconciliation of the provision for income taxes at theUnited States federal statutory rate of 34% and a Colorado state rate of 5%compared to the Company's income tax expense as reported is as follows:

December  31, 

December  31,

December  31,

2016

2015

2014

Net loss  before income taxes

$

       (1,154,285)

$

          (15,000)

$

          (15,000)

   Adjustments to net loss

      Warrant expense

        1,328,000 

                 -   

                 -   

     Gain  on exchange of debt for stock

          (270,822)

                 -   

                 -   

Net taxable  income (loss)

            (97,107)

          (15,000)

          (15,000)

Income tax  rate

39%

39%

39%

Income tax  recovery

             37,870 

            5,850 

            5,850 

Valuation  allowance change

            (37,870)

           (5,850)

           (5,850)

Provision  for income taxes

$

                    -   

$

                 -   

$

                 -   
 
F-9 

The significant components of deferred income tax assets atDecember 31, 2016, December 31, 2015 and 2014 are as follows:

December 31,

December 31,

December 31,

2016

2016

2014

Net  operating loss carry-forward

$

        97,107

$

0

$

0

Valuation  allowance

(97,107)

0

0

Net  deferred income tax asset

$

0

$

0

$

0

As of December 31, 2016, the Company has no unrecognizedincome tax benefits. Based on management's understanding of IRC Sec 383 thesubstantial change in ownership and change in business activities precludes anycarryforward of the accumulated net operating losses. The Company's policy forclassifying interest and penalties associated with unrecognized income taxbenefits is to include such items as tax expense. No interest or penalties havebeen recorded during the years ended December 31, 2015 and 2014, and nointerest or penalties have been accrued as of December 31, 2016. As of December31, 2015 and 2014 the Company did not have any amounts recorded pertaining touncertain tax positions.

As at December 31, 2016 the current management of theCompany has been unable to ascertain when the last corporation income taxreturns were filed. Management will use its best efforts to bring current allthe necessary filings. The Company is currently not under examination by theInternal Revenue Service or any other taxing authorities. The Company has notrecorded any liability for an uncertain tax position related to the lack ofreturn filings since the Company records show a continuing pattern of lossesfor the periods in question. Since penalties are commonly assessed based on taxamounts owed management has deemed in unnecessary to record any liability.

**NOTE 10 - LOAN PAYABLE**

During the quarter ended December 31, 2016 InternationalHedge Group, the holder of a majority of the common stock and all of thepreferred stock of the Company has advanced a total of $150,000 to the Company.This loan is not secured, bears no interest, is not documented in writing andis payable on demand of the lender. 

**NOTE11 - NOTES PAYABLE**

OnSeptember 23, 2011 the Company received $50,000 in the form of cash as atemporary loan from a director of the Company. The Company has elected toaccrue interest at the rate of 6% per annum non-compounding. The Company hasnot received any notice of default and has continued to accrue interest on itsbooks at the rate of 6% each year. During the month of August 2016 the Companyagreed to issue 200,000 shares of its common stock in satisfaction for thisindebtedness along with all accrued interest, and authorized the sharesconditioned upon receipt of a release.

OnJuly 11, 2011 the Company received $200,000 in the form of cash in exchange fora promissory note bearing interest at the rate of 6% per annum. The; note doesnot specify that the interest is compounding therefore the Company is accruingthe expense at a simple interest rate of 6%. The Company has not received anynotice of default and has continued to accrue interest on its books at the rateof 6% each year. During the month of August 2016 the Company issued 700,000shares of its common stock in exchange for this indebtedness along with allaccrued interest.

F-10 

**NOTE12 - GENERAL AND ADMINISTRATIVE EXPENSES**

Components  of General and Administrative Expenses

**Year Ended**

**December 31,**

**2016**

** **

**2015**

Advertising  and promotion

         905 

           -   

Automobile

         132 

Bank  charges

         166 

Clerical  services

       6,564 

Meals and  entertainment

         687 

Office  expense

       1,448 

Filing fees

       5,237 

         525 

Transfer  Agent

       4,786 

       2,275 

Travel

       1,838 

           -   

Website

         174 

           -   

 $  21,937 

 $    2,800 

**NOTE13 - STOCK PURCHASE AGREEMENT**

OnJanuary 25, 2016 the Company received and agreed to a purchase of its commonstock from International Hedge Group, Inc.(IHG) to purchase a 95% controllinginterest in the Company. At the closing IHG was to provide the Company with apromissory note in the amount of $200,000 payable over a 180 day period inincrements as the buyer is able to achieve funding. As at the date of thesefinancial statements the Company has received $200,000 in cash.

**NOTE14 - SUBSEQUENT EVENTS**

Subsequentto the signing of the agreement between International Hedge Group, Inc. and theCompany six major stockholders have agreed to surrender a total of 4,825,000shares of common stock. As of the date of these financial statements a total of1,000,000 shares have been surrendered. During the month of October 2016 theCompany received the certificates for 3,825,000 shares to be submitted to thetransfer agent for official cancellation. To date the certificates have notbeen submitted for cancellation.

OnJanuary 21, 2017, IHG, the parent company, completed a second round of financing under theSecurities Purchase Agreement by funding an additional $250,000. This fundingwas competed under the same terms and conditions as the first round of funding.

F-11 

**ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE.**

None.

**ITEM 9A. CONTROLS AND PROCEDURES.**

This annual report does not include a report of management'sassessment regarding internal control over financial reporting or anattestation report of the company's registered public accounting firm due to atransition period established by rules of the Securities and ExchangeCommission for newly public companies.

**CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING**

There have been no changes in our internal control over financialreporting identified in connection with the evaluation required by paragraph(d) of Rules 13a-15 or 15d-15 under the Exchange Act that occurred during thesmall business issuer's last fiscal quarter that has materially affected, or isreasonably likely to materially affect, our internal control over financialreporting.

**Item 9B. Other Information.**

None

-40- 

**PART III**

**ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.**

The following table sets forth information as to persons whocurrently serve as our directors or executive officers, including their ages asof February 28, 2017.

Name

Age

Position

John Noble Harris

70

Chief Executive Officer and Director

Joseph E. Kurczodyna

63

Chief Financial Officer and Director

Todd H. Lahr (1)

56

Former President and Former Director

(1)

Resigned as an Officer and Director of BlackStar Enterprise  Group, Inc. as of February 8, 2017

Our officers are elected by the board of directors at the firstmeeting after each annual meeting of our stockholders and hold office untiltheir successors are duly elected and qualified under our bylaws.

The directors named above will serve until the next annual meetingof our stockholders. Thereafter, directors will be elected for one-year termsat the annual stockholders' meeting. Officers will hold their positions at thepleasure of the board of directors absent any employment agreement. There is noarrangement or understanding between our directors and officers and any otherperson pursuant to which any director or officer was or is to be selected as adirector or officer.** **

**BIOGRAPHICAL INFORMATION**

**John Noble Harris, Chief Executive Officer and Director**

Mr. Harris began his career in the securities industry in 1971with Newhart Cook & Co., a St. Louis based NYSE member firm.  Licensedboth as a broker and principal, he ultimately managed brokerage offices forseveral regional NASD brokerage firms.  Since 1985, he has been self-employed as a business consultant and as a private investor. Mr. Harris bringsto the Company experience in the public securities market.  Mr. Harrisserved as the president of Tombstone Technologies from 2005-2010 and eventuallymerged the public company with Hunt Global Resources.  In 2011, Mr. Harrisbecame president of Rare Green, Inc., a private mineral exploration company. In2014, Mr. Harris was one of the founders of International Hedge Group, Inc. ("IHG").In 2016, IHG acquired 95% interest in BlackStar Enterprise Group, Inc.

**Joseph E. Kurczodyna, Chief Financial Officer and Director**

Working with various Commodity and Stock brokerage firms inChicago and Denver Mr. Kurczodyna began his career in 1977 trading Bonds andT-Bill futures In the 1980's, he focused on underwriting early stage companies. As a principle with Mills Financial, a registered Broker Dealer with theSEC and NASD, he underwrote and syndicated the Western International Gold &Silver (WIGS) in 1984. In 1991, Mr. Kurczodyna purchased Mills Financial andwas the firm's President and General Principle. While leading Mills Financial,he underwrote and funded several private placements and IPO's. In 1998, Millswas the lead underwriter for United Financial Mortgage Corp. (UFMC), which waseventually listed on the American Stock Exchange.  From 2004 to 2009, Mr.Kurczodyna was the CEO of Capital Merchant Bank LLC, an independent investmentbanker. From 2006-2008 he acted as the CFO and Director of OnMediaInternational. In 2009, Mr. Kurczodyna founded Patriot Mortgage AcceptanceCorp. a private mortgage company. In 2014, Mr. Kurczodyna was one of thefounders of International Hedge Group Inc.(IHG). In 2016, IHG acquired 95%interest in BlackStar Enterprise Group Inc.

CONFLICTS OF INTEREST - GENERAL

There can be no assurance that management will resolve allconflicts of interest in favor of the Company.

-41- 

Our directors and officers are, or may become, in their individualcapacities, officers, directors, controlling shareholder and/or partners ofother entities engaged in a variety of businesses. Thus, there exist potentialconflicts of interest including, among other things, time, efforts andcorporation opportunity, involved in participation with such other entities.Consequently, there are potential inherent conflicts of interest in theiracting as officers and directors of the Company. Insofar as the officers anddirectors are engaged in other business activities, management anticipates itwill devote only up to approximately 20 hours per week to the Company'saffairs.

CONFLICTS OF INTEREST - CORPORATE OPPORTUNITIES

Presently no requirement contained in our Articles ofIncorporation, Bylaws, or minutes which requires officers and directors of ourCompany to disclose business opportunities which come to their attention. Ourofficers and directors do, however, have a fiduciary duty of loyalty to ourcompany to disclose to it any business opportunities which come to theirattention, in their capacity as an officer and/or director or otherwise.Excluded from this duty would be opportunities which the person learns aboutthrough his involvement as an officer and director of another company. We haveno intention of merging with or acquiring an affiliate, associate person orbusiness opportunity from any affiliate or any client of any such person.

Our Board of Directors has adopted a policy that the Company willnot seek a fund of, any entity in which any officer or director serves as anofficer or director or in which they or their family members own or hold acontrolling ownership interest. Although the Board of Directors could elect tochange this policy, the Board of Directors has no present intention to do so.

The members of the Board and management are also the Board andManagement of our parent, International Hedge Group, Inc. ("IHG") and haveownership and compensation through IHG. IHG will often be engaged by clientborrowers of our Company to provide, consulting services, and such poses a riskof financial conflict to our Company.

COMMITTEES OF THE BOARD OF DIRECTORS

We are managed under the direction of its board of directors.

EXECUTIVE COMMITTEE

We do not have an executive committee, at this time.

AUDIT COMMITTEE

We have formed a non-independent audit committee in October 2016to assist the Board in monitoring (1) the integrity of the financial statementsof the Company, (2) the compliance by the Company with legal and regulatoryrequirements and (3) the independence and performance of the Company's internaland external auditors. Joe Kurczodyna, as Chairman, and John Harris act as theinitial members of the Audit Committee.

The functions of the audit committee are to review the scope ofthe audit procedures employed by our independent auditors, to review with theindependent auditors our accounting practices and policies and recommend towhom reports should be submitted, to review with the independent auditors theirfinal audit reports, to review with our internal and independent auditors ouroverall accounting and financial controls, to be available to the independentauditors during the year for consultation, to approve the audit fee charged bythe independent auditors, to report to the board of directors with respect tosuch matters and to recommend the selection of the independent auditors.

In the absence of a separate audit committee our board ofdirectors functions as audit committee and performs some of the same functionsof an audit committee, such as recommending a firm of independent certifiedpublic accountants to audit the annual financial statements; reviewing theindependent auditors independence, the financial statements and their auditreport; and reviewing management's administration of the system of internalaccounting control We expect that the selection of a business opportunity willbe complex. Due to general economic conditions, rapid technological advancesbeing made in some industries and shortages of available capital, we believethat there are numerous firms seeking the benefits of an issuer who has compliedwith the 1934 Act. Such benefits may include facilitating or 

-42- 

improving the terms on which additional equity financingmay be sought, providing liquidity for incentive stock options or similarbenefits to key employees, providing liquidity (subject to restrictions ofapplicable statutes) for all stockholders and other factors. Potentially,available business opportunities may occur in many different industries and atvarious stages of development, all of which will make the task of comparativeinvestigation and analysis of such business opportunities extremely difficultand complex. We have, and will continue to have, essentially no assets toprovide the owners of business opportunities. However, we will be able to offerowners of acquisition candidates the opportunity to acquire a controllingownership interest in an issuer who has complied with the 1934 Act withoutincurring the cost and time required to conduct an initial public offering.

ANNUAL MEETING

Our annual meeting of stockholders is expected to be held at afuture date about 6 months after the filing of this Form 10. This will be anannual meeting of stockholders and will include the election of directors. Theannual meeting will be held at our principal office or at such other place aspermitted by the laws of the State of Delaware and on such date as may be fixedfrom time to time by resolution of our board of directors.

PREVIOUS "BLANK CHECK" OR "SHELL" COMPANYINVOLVEMENT

No members of our management have been involved in previous"blank-check" or "shell" companies.

Involvement in Legal Proceedings

No executive Officer or Director of our Company has been convictedin any criminal proceeding (excluding traffic violations) or is the subject ofa criminal proceeding that is currently pending.

No executive Officer or Director of our Company is the subject ofany pending legal proceedings.

No Executive Officer or Director of our Company is involved in anybankruptcy petition by or against any business in which they are a generalpartner or executive officer at this time or within two years of anyinvolvement as a general partner, executive officer, or Director of anybusiness.

-43- 

**ITEM 11. EXECUTIVE COMPENSATION.**

**Summary of Executives and Director Compensation Table**

The following table sets forth the compensation paid to ourofficers from the period of 2015 through December 31, 2016.

**SUMMARYEXECUTIVES COMPENSATION TABLE**

**In Dollars**

Name & Position

Year

Contract Payments

($)

Bonus

($)

Stock awards

($)

Option awards

($)

Non-equity incentive plan compensa-tion

($)(1)

Non-qualified deferred compensation earnings

($)

All other compensation

($)

Total

($)

John Noble Harris, CEO 

2015

0

0

0

0

0

0

0

0

2016

$10,000

0

0

3,000,000

0

0

0

0

Joseph E. Kurczodyna, CFO

2015

0

0

0

0

0

0

0

0

2016

$10,000

0

0

3,000,000

0

0

0

0

Todd H. Lahr, Former President (2)

2015

0

0

0

0

0

0

0

0

2016

$10,000

0

0

6,500,000

0

0

0

0

(1)

International Hedge Group, of which these persons are  controlling parties, also own 2,700,000 Warrants to purchase @ $0.05 expiring  August 2019.

(2)

Resigned as President of BlackStar Enterprise Group, Inc. on  February 8, 2017.

**Employment Contracts and Termination of Employment andChange-in-Control Arrangements**

There are no employment contracts, compensatory plans orarrangements, including payments to be received from us, with respect to any ofour directors or executive officers which would in any way result in paymentsto any such person because of his or her resignation, retirement or othertermination of employment with us. These agreements do not provide for paymentsto be made as a result of any change in control of us, or a change in theperson's responsibilities following such a change in control.

**Compensation Committee Interlocks and Insider Participation**

Our board of directors in our entirety acts as the compensationcommittee for BlackStar Enterprise Group, Inc.

-44- 

**DIRECTORCOMPENSATION**

The following table sets forth certain information concerningcompensation paid to our directors for services as directors, but not includingcompensation for services as officers reported in the "Summary Executives'Compensation Table" during the year ended December 31, 2015 and 2016: 

** **

** **

** **

** **

**Name**

** **

** **

** **

** **

**Year**

** **

** **

**Fees earned or paid in cash**

**($)**

** **

** **

** **

**Stock awards**

**($)**

** **

** **

** **

**Option awards ($)**

** **

**Non-equity incentive plan compensation ($)**

**Non-qualified deferred compensation earnings**

**($)**

** **

** **

**All other compensation ($)**

** **

** **

** **

**Total**

**($)**

John Noble Harris

2015

0

0

0

0

0

0

$0

2016

0

0

0

0

0

0

$0

Joseph E. Kurczodyna, 

2015

0

0

0

0

0

0

$0

2016

0

0

0

0

0

0

$0

Todd H. Lahr, 

2015

0

0

0

0

0

0

$0

Former Director (1)

2016

0

0

0

0

0

0

$0

(1)

Mr. Lahr resigned as an Officer and Director of BlackStar  Enterprise Group, Inc. on February 8, 2017.

The term of office for each Director is one (1) year, or untilhis/her successor is elected at our annual meeting and qualified. The term ofoffice for each of our Officers is at the pleasure of the Board of Directors.

The Board of Directors has no nominating, auditing committee or acompensation committee. Therefore, the selection of person or election to theBoard of Directors was neither independently made nor negotiated at arm'slength.

At this time, our Directors do not receive cash compensation forserving as members of our Board of Directors.

**Limitation on Liability and Indemnification**

We are a Delaware corporation. The Delaware General CorporationLaws (DGCL) provides that the articles of incorporation of a Delawarecorporation may contain a provision eliminating or limiting the personal liabilityof a director to the corporation or our stockholders for monetary damages forbreach of fiduciary duty as a director, except that any such provision may noteliminate or limit the liability of a director (i) for any breach of thedirector's duty of loyalty to the corporation or our stockholders, (ii) acts oromissions not in good faith or which involve intentional misconduct or aknowing violation of law, (iii) acts specified in Section 78 (concerningunlawful distributions), or (iv) any transaction from which a director directlyor indirectly derived an improper personal benefit. Our articles ofincorporation contain a provision eliminating the personal liability ofdirectors to our company' or our stockholders for monetary damages to thefullest extent provided by the DGCL.

The DGCL provides that a Delaware corporation mustindemnify a person who was wholly successful, on the merits or otherwise, indefense of any threatened, pending, or completed action, suit, or proceeding,whether civil, criminal, administrative, or investigative and whether formal orinformal (a "Proceeding"), in which 

-45- 

he or she was a party because the person is or was adirector, against reasonable expenses incurred by him or her in connection withthe Proceeding, unless such indemnity is limited by the corporation's articlesof incorporation. Our articles of incorporation do not contain any suchlimitation.

The DGCL provides that a Delaware corporation may indemnify aperson made a party to a Proceeding because the person is or was a directoragainst any obligation incurred with respect to a Proceeding to pay a judgment,settlement, penalty, fine (including an excise tax assessed with respect to anemployee benefit plan) or reasonable expenses incurred in the Proceeding if theperson conducted himself or herself in good faith and the person reasonablybelieved, in the case of conduct in an official capacity with the corporation,that the person's conduct was in the corporation's best interests and, in allother cases, his or her conduct was at least not opposed to the corporation'sbest interests and, with respect to any criminal proceedings, the person had noreasonable cause to believe that his or her conduct was unlawful. Our articlesof incorporation and bylaws allow for such indemnification. A corporation maynot indemnify a director in connection with any Proceeding by or in the rightof the corporation in which the director was adjudged liable to the corporationor, in connection with any other Proceeding charging that the director derivedan improper personal benefit, whether or not involving actions in an officialcapacity, in which Proceeding the director was judged liable on the basis thathe or she derived an improper personal benefit. Any indemnification permittedin connection with a Proceeding by or in the right of the corporation islimited to reasonable expenses incurred in connection with such Proceeding.

The DGCL, unless otherwise provided in the articles ofincorporation, a Delaware corporation may indemnify an officer, employee,fiduciary, or agent of the corporation to the same extent as a director and mayindemnify such a person who is not a director to a greater extent, if notinconsistent with public policy and if provided for by our bylaws, general orspecific action of our board of directors or stockholders, or contract. Ourarticles of incorporation provide for indemnification of our directors,officers, employees, fiduciaries and agents to the full extent permitted byDelaware law.

Our articles of incorporation also provide that we may purchaseand maintain insurance on behalf of any person who is or was a director orofficer of our company or who is or was serving at our request as a director,officer or agent of another enterprise against any liability asserted againsthim or her and incurred by him or her in any such capacity or arising out ofhis or her status as such, whether or not we would have the power to indemnifyhim or her against such liability.

**EQUITY COMPENSATION PLAN INFORMATION **

**Key Employees Stock Compensation Plan **

Effective December1, 2016, our Stock Option and Award Plan (the "Stock Incentive Plan")was approved by our Board of Directors. Under the Stock Incentive Plan, theBoard of Directors may grant options or purchase rights to purchase commonstock to officers, employees, and other persons who provide services to us orany related company. The participants towhom awards are granted, the type of awards granted, the number of sharescovered for each award, and the purchase or exercise price, conditions andother terms of each award are determined by the Board of Directors, except thatthe term of the options shall not exceed 10 years. A total of 10 million sharesof our common stock are subject to the Stock Incentive Plan and maybe either aqualified or non-qualified stock option. The shares issued for the StockIncentive Plan may be either treasury or authorized and unissued shares. As ofDecember 20, 2016, we have granted no stock options to purchase any shares ofour common stock under the Plan.

**ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS.**

Thefollowing table sets forth information with respect to the beneficial ownershipof our outstanding common stock by:

•

each  person who is known by us to be the beneficial owner of five percent (5%) or  more of our common stock;

•

our  executive officers, and each director as identified in the "Management -  Executive Compensation" section; and

•

all  of our directors and executive officers as a group.
 
-46- 

Beneficialownership is determined in accordance with the rules of the Securities andExchange Commission and generally includes voting or investment power withrespect to securities. Shares of common stock and options, warrants andconvertible securities that are currently exercisable or convertible within 60days of the date of this document into shares of our common stock are deemed tobe outstanding and to be beneficially owned by the person holding the options,warrants or convertible securities for the purpose of computing the percentageownership of the person, but are not treated as outstanding for the purpose ofcomputing the percentage ownership of any other person.

Theinformation below is based on the number of shares of our common stock that webelieve was beneficially owned by each person or entity as of February 28,2017.** **

**OFFICERSAND DIRECTORS**

**Title  of Class**

**Name  of Beneficial Owner (1)**

**Amount  and Nature of Beneficial Owner**

**Percent  of Class Outstanding (2)(4)**

**Number  of Shares & Warrants if fully exercised**

**Percent  of Class including Warrants(5)(6)(7)**

Common  Stock

John  Noble Harris,

Chief  Executive Officer and Director (3)(4)

44,400,000

80%

48,900,000

54.4%

Class  A Preferred Convertible Stock

John  Noble Harris

Chief  Executive Officer and Director (3)(4)

1,000,000

100%

N/A

N/A

Common  Stock

Todd  H. Lahr,

Former  President and Former Director (3)(4)(8)

44,400,000

80%

58,100,000

64.7%

Class  A Preferred Convertible Stock

Todd  H. Lahr,

Former  President and Former Director (3)(4)(8)

1,000,000

100%

N/A

N/A

Common  Stock

Joseph  E. Kurczodyna,

Chief  Financial Officer and Director (3)(4)

44,400,000

80%

48,900,000

54.4%

Class  A Preferred Convertible Stock

Joseph  E. Kurczodyna,

Chief  Financial Officer and Director (3)(4)

1,000,000

100%

N/A

N/A

Common  shares

All  Directors and Executive Officers as a Group (2 persons) Common Shares

44,400,000

80%

58,100,000

64.7%

All  Directors and Executive Officers as a Group (3 persons) Preferred Shares

1,000,000

100%

N/A

N/A

(1)

The address of each person listed above, unless otherwise  indicated, is c/o BlackStar Enterprise Group, Inc., 4450 Arapahoe Ave., Suite  100, Boulder, CO 80303.

(2)

Based upon 55,825,000 common shares issued and outstanding on a  fully diluted basis. (Does not include conversion rights of Class A Preferred  Super Majority Voting Convertible Stock held by International Hedge Group,  Inc.)
 
 

-47- 

 

(3)

Mr. Harris, Mr. Lahr and Mr. Kurczodyna are persons owning and  controlling International Hedge Group, Inc. and deemed beneficial owners.

(4)

International Hedge Group, Inc. ("IHG"), Mr. Harris, Mr. Lahr  and Mr. Kurczodyna are shown collectively as they jointly control IHG. IHG  also controls voting of the Class A Super Majority Voting Preferred stock  which votes 60% of the common at all times.

(5)

Assuming full exercise of all warrants (34,000,000).

(6)

Including warrants held by International Hedge Group, Inc., our  parent, which are deemed beneficially owned by the other persons (Mr. Lahr,  Mr. Harris & Mr. Kurczodyna).

Including

other affiliate companies of Mr. Lahr, Mr. Harris and Mr.  Kurczodyna.

(7)

(8)

Resigned as an Officer and Director of BlackStar Enterprise  Group, Inc. on February 8, 2017 and as an Officer and Director of  International Hedge Group, Inc. on February 9, 2017.
 
 

-48- 

** **

**GREATER THAN 5% STOCKHOLDERS**

**Title of Class**

**Name of Beneficial Owner (1)**

**Amount and Nature of Beneficial Owner**

**Percent of Class Outstanding (2)(4)**

** Number of Shares & Warrants if fully exercised**

**Percent of Class including Warrants(5)(6)(7)**

Common Stock

International Hedge Group, Inc. (4)

44,400,000

80%

58,100,000

100%

Class A Preferred Convertible Stock

International Hedge Group, Inc. (4)

1,000,000

100%

N/A

N/A

Common Stock

John Noble Harris,

Chief Executive Officer and Director (3)(4)

44,400,000

80%

48,900,000

54.4%

Class A Preferred Convertible Stock

John Noble Harris

Chief Executive Officer and Director (3)(4)

1,000,000

100%

N/A

N/A

Common Stock

Todd H. Lahr,

Former President and Former Director (3)(4)(8)

44,400,000

80%

58,100,000

64.7%

Class A Preferred Convertible Stock

Todd H. Lahr,

Former President and Former Director (3)(4)(8)

1,000,000

100%

N/A

N/A

Common Stock

Joseph E. Kurczodyna,

Chief Financial Officer and Director (3)(4)

44,400,000

80%

48,900,000

54.4%

Class A Preferred Convertible Stock

Joseph E. Kurczodyna,

Chief Financial Officer and Director (3)(4)

1,000,000

100%

N/A

N/A

(1)

The address of each person listed above, unless otherwise  indicated, is c/o BlackStar Enterprise Group, Inc., 4450 Arapahoe Ave., Suite  100, Boulder, CO 80303.

(2)

Based upon 55,825,000 shares issued and outstanding on a fully  diluted basis. (Does not include conversion rights of Class A Preferred Super  Majority Voting Convertible Stock held by International Hedge Group, Inc.)

(3)

Mr. Harris, Mr. Lahr and Mr. Kurczodyna are persons owning and  controlling International Hedge Group, Inc. and deemed beneficial owners.

(4)

International Hedge Group, Inc. ("IHG"), Mr. Harris, Mr. Lahr  and Mr. Kurczodyna are shown collectively as they jointly control IHG. IHG  also controls voting of the Class A Super Majority Voting Preferred stock  which votes 60% of the common at all times.

(5)

Assuming full exercise of all warrants (34,000,000).

(6)

Including warrants held by International Hedge Group, Inc., our  parent, which are deemed beneficially owned by the other persons (Mr. Lahr,  Mr. Harris & Mr. Kurczodyna).
 
 

-49- 

 

(7)

Including other affiliate companies of Mr. Lahr, Mr. Harris and  Mr. Kurczodyna.

(8)

Resigned as an Officer and Director of BlackStar Enterprise  Group, Inc. on February 8, 2017 and as an Officer and Director of  International Hedge Group, Inc. on February 9, 2017.

Rule 13d-3 under the Securities Exchange Act of 1934 governs thedetermination of beneficial ownership of securities. That rule provides that abeneficial owner of a security includes any person who directly or indirectlyhas or shares voting power and/or investment power with respect to suchsecurity. Rule 13d-3 also provides that a beneficial owner of a securityincludes any person who has the right to acquire beneficial ownership of suchsecurity within sixty days, including through the exercise of any option,warrant or conversion of a security. Any securities not outstanding which aresubject to such options, warrants or conversion privileges are deemed to beoutstanding for the purpose of computing the percentage of outstandingsecurities of the class owned by such person. Those securities are not deemedto be outstanding for the purpose of computing the percentage of the classowned by any other person. Included in this table are only those derivativesecurities with exercise prices that we believe have a reasonable likelihood ofbeing "in the money" within the next sixty days.

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END** **

We adopted a Stock Option and Award Plan on December 1, 2016. Wehave authorized 10,000,000 shares of common stock to be available for the Plan.We have granted no options exercisable for shares of our common stock under thePlan.

**ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, ANDDIRECTOR INDEPENDENCE.**

Other than the stock transactions discussed below, we have notentered into any transaction nor are there any proposed transactions in whichany of our founders, directors, executive officers, stockholders or any membersof the immediate family of any of the foregoing had or is to have a direct orindirect material interest.

In 2016, we entered into an agreement whereby our parent,International Hedge Group, Inc., acquired 44,000,000 shares of common stock and1,000,000 shares of our Class A Preferred Super Majority Voting ConvertibleStock for capital infusion of $200,000 and 34,000,000 warrants to purchasecommon stock @ $0.05 per share expiring in 3 years (cashless). Our Directorsand Officers own the control of International Hedge Group, Inc., which in turncontrols the voting stock of our Company, BlackStar.** **

Our officers and directors, listed below, who also control ourparent- International Hedge Group, Inc., and International Hedge Group, Inc.,own warrants of our Company granted in August 2016, which provide for anexercise price of $.05 per share, and which expire in three years, and providefor cashless exercise. The warrants were issued for services in reorganizingthe Company and settling the debts of the Company. 

The warrants are as follows:** **

Todd H. Lahr, Former President

6,500,000 - Expiry August 2019

John Noble Harris, CEO

3,000,000 - Expiry August 2019

Joseph E. Kurczodyna, CFO

3,000,000 - Expiry August 2019

International Hedge Group, Inc.

2,700,000 - Expiry August 2019

In addition to those listed above, Messrs. Harris, Lahr, andKurcyodyna assigned warrants earned to affiliates of the following shareholderswhich held warrants in BlackStar Enterprise Group, Inc. in the followingamounts:

THL Holdings, LLC

Affiliate: Todd H. Lahr

4,000,000 Warrants

Rare Green, Inc.

Affiliate: John Noble Harris

1,500,000 Warrants

Patriot Mtg. Acceptance Corp.

Affiliate: Joseph E. Kurczodyna

1,500,000 Warrants

In 2016, Messrs. Harris, Lahr, and Kurcyodnya each were paid$10,000 for their consulting services.  No further compensationarrangements exist at this time.

-50- 

**ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.**

We incurred approximately $10,000 in audit fees to our principalindependent accountants for professional services rendered in connection withthe audit of financial statements for the fiscal year ended December 31, 2016. Weincurred approximately $12,960 in audit fees to our principal independentaccountants for professional services rendered in connection with the audit offinancial statements for the fiscal year ended December 31, 2015.

During the fiscal years ended December 31, 2016 and 2015, we didnot incur any other fees for professional services rendered by our principalindependent accountants for all other non-audit services which may include, butnot limited to, tax related services, actuarial services or valuation services.****

**PART IV**

**Item 15. Exhibits, Financial Statement Schedules.**

The following exhibits are incorporated into this Form 10-K AnnualReport:

**Exhibit No.**

** **

**Description**

3(i).1

Certificate of Incorporation of NPI08, Inc. - filed December 17,  2007 [1]

3(i).2

Certificate of Amendment of BlackStar Energy Group, Inc. - name  change to BlackStar Enterprise Group, Inc. filed July 14, 2016 [1]

3(i).3

Certificate of Amendment filed August 25, 2016 [1]

3(i).4

Certificate of Correction filed August 25, 2016 [1]

3(ii).1

Bylaws of BlackStar Enterprise Group, Inc. [1]

31.1

Certification of Chief Executive Officer Pursuant to Rule  13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934

31.2

Certification of Chief Financial Officer Pursuant to Rule  13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934

32.1

Certification of Chief Executive Officer under Section 1350 as  Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2

Certification of Chief Financial Officer under Section 1350 as  Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

[1]

Incorporated by reference from the exhibits included in the  Company's Registration Statement No. 000-55730 on Form 10-12g filed with the  Securities and Exchange Commission (www.sec.gov), dated December 28, 2016, as  amended.
 
-51- 

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of theSecurities and Exchange Act of 1934, the registrant has duly caused this reportto be signed on its behalf by the undersigned, thereunto duly authorized.

**BLACKSTAR ENTERPRISE GROUP, INC.**

 

 

/s/ John Noble Harris

April  17, 2017

John Noble Harris

(Chief  Executive Officer/Principal Executive Officer)
                  
/s/ Joseph E.  Kurczodyna

April  17, 2017

Joseph E. Kurczodyna

(Chief  Financial Officer/Principal Accounting Officer)

Pursuant to therequirements of the Securities Exchange Act of 1934, this report has beensigned below by the following persons on behalf of the registrant and in thecapacities and on the dates indicated.

** **

/s/  John Noble Harris

April  17, 2017

John  Noble Harris, Director 
                  
/s/  Joseph E. Kurczodyna

April  17, 2017

Joseph  E. Kurczodyna, Director

** **

** **

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