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Form 5 BLACKSTAR ENTERPRISE For: Dec 31 Filed by: KURCZODYNA JOSEPH E

July 1, 2022 12:09 PM EDT

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FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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OMB Number: 3235-0362
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hours per response: 1.0
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
Form 3 Holdings Reported.
  
Form 4 Transactions Reported.
1. Name and Address of Reporting Person *
KURCZODYNA JOSEPH E

(Last) (First) (Middle)
1711 WALES DRIVE

(Street)
BERTHOUD CO 80513

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BLACKSTAR ENTERPRISE GROUP, INC. [ BEGI ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CFO
3. Date of Earliest Transaction (Month/Day/Year)
12/31/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Amount (A) or (D) Price
Common Stock             2,884,445 D  
Common Stock             1,442,222 (1) I As an Officer of Patriot Mtg. Acceptance Corp.
Common Stock 06/22/2018   J (2) 962,963 A (2) 12,242,593 (2) I As an Officer and Director of International Hedge Group, Inc.
Common Stock 01/25/2019   J (3) 10,000 D (3) 4,792,702 (3) I As an Officer and Director of International Hedge Group, Inc.
Common Stock 05/28/2019   J (3) 150,000 D (3) 4,792,702 (3) I As an Officer and Director of International Hedge Group, Inc.
Common Stock 06/26/2019   J (3) 139,891 D (3) 4,792,702 (3) I As an Officer and Director of International Hedge Group, Inc.
Common Stock 12/17/2019   J (3) 7,150,000 D (3) 4,792,702 (3) (4) I As an Officer and Director of International Hedge Group, Inc.
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Convertible Preferred Stock (5)           01/25/2016   (5) Common Stock 100,000,000   1,000,000 (5) I As an Officer and Director of International Hedge Group, Inc.
Explanation of Responses:
1. Joseph E. Kurczodyna is an officer of Patriot Mtg. Acceptance Corp. and a beneficial owner. Mr. Kurczodyna beneficially owns 1,442,222 through Patriot Mtg. Acceptance Corp.
2. As part of the cancellation of the previously reported retirement of 16,370,370 shares to treasury by International Hedge Group, Inc. occurring on June 18, 2018, 962,963 shares were issued back to IHG, Inc. (should have been issued to International Hedge Group, Inc.) creating a separate certificate on June 22, 2018. Thus, the total holdings of International Hedge Group, Inc. (including certificates listed as IHG, Inc.) should have been 12,242,593 as of December 31, 2018.
3. On January 25, 2019, International Hedge Group, Inc. retired 10,000 shares to treasury simultaneously to the issuance of 10,000 shares issued for services. On May 28, 2019, International Hedge Group, Inc. (certificate listed as IHG, Inc.) retired 150,000 shares to treasury simultaneously to the issuance of 150,000 shares issued to loan holders. On June 26, 2019, International Hedge Group, Inc. retired 139,831 shares (certificate listed as IHG, Inc.) to treasury simultaneously to the issuance of 139,831 shares issued under the Power Up Lending convertible promissory note. On December 17, 2019, International Hedge Group, Inc. retired 150,000 shares to treasury simultaneously to the issuance of 150,000 shares issued to loan holders and retired an additional 7,000,000 shares to treasury as part of management's anti-dilutive strategy. The total shares beneficially owned by International Hedge Group, Inc. (including IHG, Inc. certificates) as of December 31, 2019, 2020 and 2021 was 4,792,702
4. Joseph E. Kurczodyna is an officer and director of International Hedge Group, Inc. ("IHG"). Mr. Kurczodyna's total beneficial ownership including Patriot Mtg. Acceptance Corp. and IHG is 9,119,369 (3.2%). Mr. Kurczodyna is the controlling shareholder of IHG through his sole ownership of preferred voting stock of IHG. Also see Note 5 regarding Mr. Kurczodyna's control of the Company as a result of his IHG holdings.
5. The Class A Preferred Convertible Stock can be converted at any time at a ratio of 100 shares of the common stock of the Company for each share of preferred stock of the Company. These shares do not have an expiration date. John Noble Harris, the Issuer's CEO and Director and Joseph E. Kurczodyna, the Issuer's CFO and Director, are Officers, Directors and Owners of International Hedge Group, Inc. Mr. Kurczodyna is the controlling shareholder of IHG through his sole ownership of preferred voting stock of IHG. Mr. Kurczodyna, through IHG, controls voting of the BlackStar Class A Super Majority Voting Preferred Stock which votes 60% of the common at all times and has the right to convert all of the Class A Super Majority Voting Preferred Stock (1,000,000 shares) into 100,000,000 shares of common stock of the Company. No conversion of preferred shares is planned at this time.
/s/ Joseph Kurczodyna 06/30/2022
** Signature of Reporting Person Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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