Document:

EXHIBIT 10.3

BLACKSTAR
ENTERPRISE GROUP, INC.

 

September
1, 2021

EQ Shareowner
Services

3200 Cherry
Creek Drive South

Denver,
CO 80209

 

 

Ladies
and Gentlemen:

BLACKSTAR
ENTERPRISE GROUP, INC., a Delaware corporation (the "Company") and POWER UP LENDING GROUP LTD., a Virginia corporation
(the "Investor") have entered into a Securities Purchase Agreement dated as of September 1, 2021 (the "Agreement")
providing for the issuance of a Convertible Promissory Note in the principal amount of $53,750.00 (the "Note").

A copy
of the Note is attached hereto. You should familiarize yourself with your issuance and delivery obligations, as Transfer Agent,
contained therein. The shares to be issued are to be registered in the names of the registered holder of the securities submitted
for conversion or exercise.

You are
hereby irrevocably authorized and instructed to reserve 17,348,036 shares of common stock ("Common Stock") of the Company
for issuance upon full conversion of the Note. The amount of Common Stock so reserved may be increased, from time to time, by written
instructions of the Company or the Investor so long as there are sufficient authorized and unissued shares of the Company not otherwise
reserved available to do so.

 

So long
as you have previously received confirmation from the Company (or Investor’s counsel) that the shares have been registered
under the 1933 Act or otherwise may be sold pursuant to Rule 144 without any restriction, and the Company or its counsel or Investor's
counsel provides an opinion of counsel to that effect in form, substance and scope customary for opinions of counsel in comparable
transactions (and satisfactory to the transfer agent), together with other documentation that may reasonably be requested, and
the number of shares to be issued are less than 4.99% of the total issued and outstanding common stock of the Company, such shares
should be issued either (i) electronically by crediting the account of a Prime Broker with the Depository Trust Company through
its Deposit/Withdrawal Agent Commission system, provided that the Company has been made FAST/DRS eligible by DTCC (DWAC), or (ii)
in certificated form without any legend which would restrict the transfer of the shares, and you should

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remove all stop-transfer instructions
relating to such shares (such shares shall be issued from the reserve, but in the event there are insufficient reserve shares of
Common Stock to accommodate a Conversion Notice, your firm and the Company agree that the Conversion Notice should be completed
using authorized but unissued shares of Common Stock that the Company has in its treasury that are not otherwise reserved). CST
is not responsible for the accuracy set forth in the Notice of Conversion. Until such time as you are advised by Investor or Company
counsel as above that the shares have been registered under the 1933 Act or otherwise may be sold pursuant to Rule 144 without
any restriction, you are hereby instructed to place the following legend on the certificates:

 

THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES MAY NOT BE
SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT, OR AN OPINION
OF COUNSEL IN FORM, SUBSTANCE AND SCOPE CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS, THAT REGISTRATION IS NOT
REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

 

The Company
hereby requests that your firm act promptly, without unreasonable delay and without the need for any action or confirmation by
the Company with respect to the issuance of Common Stock pursuant to any Conversion Notices received from the Investor.

 

The Company
shall indemnify you and your officers, directors, principals, partners, agents and representatives, and hold each of them harmless
from and against any and all loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its
attorneys) incurred by or asserted against you or any of them arising out of or in connection with the instructions set forth herein,
the performance of your duties hereunder and otherwise in respect hereof, including the costs and expenses of defending yourself
or themselves against any claim or liability hereunder, including claims that may be asserted by the Company, except that the Company
shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross negligence or in
bad faith. You shall have no liability to the Company in respect to any action taken or any failure to act in respect of this if
such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard on the advice of counsel.

 

The Board
of Directors of the Company has approved the foregoing (irrevocable instructions) and does hereby extend the Company's irrevocable
agreement to indemnify your firm for all loss, liability or expense in carrying out the authority and direction herein contained
on the terms herein set forth.

 

All processing
fees will be expected and payable upon receipt of the request from the presenter of such request. The Company and Investor understand
and agree that Corporate Stock Transfer's fee schedule is subject to change and the Investor and the Company agree to pay the full
amount of any such conversion according to the Corporate Stock Transfer fee schedule then in force. Corporate Stock Transfer shall
not be obligated to process any request until and unless its fees are paid. Further, the Company and Investor understand and acknowledge
that in the event that the Company is delinquent in payment of fees due Corporate Stock Transfer in an amount less than $1,500,
Corporate Stock Transfer will honor conversion requests with the additional payment of $200.00 per request. In the event that the
Company is suspended with Corporate Stock Transfer due to non-payment with an account balance owing in excess of $2,500,

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Investor or Company will be required
to bring the account balance current before any transactions will be processed.

 

The Company
agrees that the Transfer Agent may resign as the Company's transfer agent. In that event, or in the event that the company terminates
the Transfer Agent, the Transfer Agent reserves the right to and may complete any issuance or transfer requests then pending. The
Company shall engage a suitable replacement transfer agent that will agree to serve as transfer agent for the Company and be bound
by the terms and conditions of these Irrevocable Instructions within five (5) business days. In the event that the Company decides
to terminate Corporate Stock Transfer, 30 days’ notice of termination must be given and a fee of $350/irrevocable instruction
letter must be paid prior to termination.

 

The Company
hereby authorizes the issuance of such number of shares as will be necessary to fully convert the Note under its terms and any
such shares shall be considered fully paid and non-assessable at the time of their issuance. The Company and the Investor agree
that the Transfer Agent will be notified in writing by the Company and the Investor when the Note has been fully converted and
if there are any remaining shares in the reservation that are to be released and returned to the Company’s Authorized shares.

 

The Investor
and Company expressly understand and agree that nothing in this Irrevocable Transfer Instruction Agreement shall require or be
construed in any way to require Corporate Stock Transfer, in its sole discretion, to do, take or not do or take any action that
would be contrary to any court order, any Federal or State law, rule, or regulation including but expressly not limited to both
the Securities Act of 1933 and the Securities and Exchange Act of 1934 as amended, the rules and regulations promulgated thereunder
by the Securities and Exchange Commission, or the transfer agent agreement with the Company.

 

The Transfer
Agent is not responsible for determining the accuracy of any conversion notice and may rely on any instructions presented to it
consistent with this letter.

 

 

The Investor
is intended to be and is a third party beneficiary hereof, and no amendment or modification to the instructions set forth herein
may be made without the consent of the Investor.

 

Very
truly yours,

BLACKSTAR ENTERPRISE GROUP, INC.

/s/
Joseph E. Kurczodyna

Joseph
E. Kurczodyna

Chief Financial Officer

 

Acknowledged and Agreed:

 

EQ Shareowner
Services

By:
/s/ Andrea Severson

____________________________________

Name:
Andrea Severson

Title:
Senior Vice President

 

 

 

Power
Up Lending Group Ltd.

By:
/s/ Curt Kramer

____________________________________

Name: Curt Kramer

Title: Chief
Executive Officer

 

 

 

 

    	3EX-4.1

 Exhibit 4.1 
  

 
 THESEUS PO BOX 505006, Louisville, KY 40233-5006 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 CUSIP/IDENTIFIER
Holder ID Insurance Value Number of Shares DTC Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total Transaction XXXXXX XX X XXXXXXXXXX
1,000,000.00 123456 12345678 123456789012345 Num/No. 123456 Denom. 123456 Total 1234567 ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# COMMON STOCK PAR VALUE $0.0001 COMMON STOCK Certificate Number ZQ00000000 THESEUS Shares * * 000000* * * * *
* * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * THESEUS PHARMACEUTICALS, INC.
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE THIS CERTIFIES THAT MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE & MRS. SAMPLE ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample SEE REVERSE FOR CERTAIN DEFINITIONS CUSIP 88369M 10 1 is the owner of ***ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO***
**000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*
 *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S
 THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF Theseus Pharmaceuticals, Inc. (hereinafter called the Company),
transferable on the books of the Company in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the
provisions of the Certificate of Incorporation, as amended, and the By-Laws, as amended, of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This
Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers. FACSIMILE SIGNATURE TO COME President THESEUS
PHARMACEUTICALS, INC. CORPORATE SEAL 12/29/2017 DEL AWARE DATED DD-MMM-YYYY COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FACSIMILE SIGNATURE TO COME Secretary By AUTHORIZED SIGNATURE 1234567 SECURITY
INSTRUCTIONS ON REVERSE 

 

 
 THESEUS PHARMACEUTICALS, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF
THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN
RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS
TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL
REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT Custodian (Cust) (Minor) TEN ENT -
as tenants by the entireties under Uniform Gifts to Minors Act JT TEN - as joint tenants with right of survivorship and not as tenants in common UNIF TRF MIN ACT Custodian (until age) (Cust) Additional abbreviations may also be used though not in
the above list. under Uniform Transfers to Minors Act (Minor) (State) For value received, hereby sell, assign and transfer unto PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Shares to transfer the said stock on the books of the within-named Company with full power of
substitution in the premises. Attorney Dated: 20 Signature: Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit
Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every
particular, without alteration or enlargement, or any change whatever. The IRS requires that the named transfer agent (we) report the cost basis of certain shares or units acquired after January 1, 2011. If your shares or units are covered by the
legislation, and you requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis calculation method, then we have defaulted to the
first in, first out (FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in your account for the time period specified by state
law, your property may become subject to state unclaimed property laws and transferred to the appropriate state. SECURITY INSTRUCTIONS THIS IS WATERMARKED PAPER, DO NOT ACCEPT WITHOUT NOTING WATERMARK. HOLD TO LIGHT TO VERIFY WATERMARK.

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