The reason is very simple; the Law of Universal Balance, which say that: The Cosmos tend to have the same energy density in all the places of the same one.
For this it is magnetism, a force of redistribution of masses and energy which tries to maintain this middling density of energy through the whole space.
Now well, when a great accumulation of mass that can end up surpassing the absolute value of energy happens in the space, a magnetic force of high intensity acts on this accumulation of masses until to destroy it and to divide it in other smaller two masses that are already inside the allowed level of energy, which doesn't represent a great energy imbalance in the space.
And this happens so much in atoms (uranium) as in stars (supernovas).
Therefore the possibility of the existence of the black holes according to this theory is null practically.
When a great star acquires a quantity of mass that makes it surpass its absolute level of energy, in its nucleus such a high degree of magnetic potential (energy redistribution through space) have been developed that this nucleus goes expanding more and more, finishing with the explosion of same one that usually becomes smaller two new stars which are already inside the required energy balance.
In a same way it is not possible the existence of stars of neutrons, since these would not be composed by atoms but for neutrons intimately united and without orbital ones. It would require a great energy concentration that would surpass the absolute level of energy in these stars, which goes also against the Law of Universal Balance: The same energy density en all place of the space.