Action Follows Recent Retirement of 688,000
Common Shares
Blackboxstocks Inc. (NASDAQ: BLBX), (“Blackbox” or the
“Company”), a financial technology and social media hybrid platform
offering real-time proprietary analytics for stock and options
traders of all levels, announced today that it has retired
1,130,002 issued and outstanding common shares that were recently
acquired from its Chief Executive Officer, Gust Kepler. The Company
acquired the shares from Mr. Kepler for $0.07 per share. Mr. Kepler
acquired the shares in February 2023 via private transactions which
were reported on a Form 4 filing with the SEC.
Following this action, Blackbox will have retired a total of
1,817,763 issued and outstanding common shares, consisting of the
1,130,002 common shares in this announcement plus 687,761 common
shares that were held in Treasury and retired, as announced on
March 1, 2023. The retired shares will be added back to authorized
but unissued shares. Blackbox will have 12,503,946 common shares
issued and outstanding after completion of this action, which
includes common shares that have been issued under the 2021
Blackboxstocks Inc Incentive Stock Plan.
The 687,761 common shares were repurchased during 2022 under the
Company’s authorized stock repurchase plan. The Company initiated
the $2.5 million stock repurchase plan in January 2022 and later
extended its termination date to December 31, 2023. As of March 1,
2023, approximately $1.4 million remains available under the plan
to repurchase the Company’s common stock.
Blackboxstocks Chief Financial Officer Robert Winspear stated,
“The acquisition and retirement of these common shares by Mr.
Kepler, the Company’s largest shareholder, is another example of
the commitment of both management and the board of directors to our
long-term capital strategy to enhance shareholder value. We believe
that the retirement of these shares as well as the retirement of
the 687,761 treasury shares completed in February will provide a
cleaner capital structure to support future growth.”
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media
hybrid platform offering real-time proprietary analytics and news
for stock and options traders of all levels. Our web-based software
employs "predictive technology" enhanced by artificial intelligence
to find volatility and unusual market activity that may result in
the rapid change in the price of a stock or option. Blackbox
continuously scans the NASDAQ, New York Stock Exchange, CBOE, and
all other options markets, analyzing over 10,000 stocks and up to
1,500,000 options contracts multiple times per second. We provide
our users with a fully interactive social media platform that is
integrated into our dashboard, enabling our users to exchange
information and ideas quickly and efficiently through a common
network. We recently introduced a live audio/screenshare feature
that allows our members to broadcast on their own channels to share
trade strategies and market insight within the Blackbox community.
Blackbox is a SaaS company with a growing base of users that spans
42 countries; current subscription fees are $99.97 per month or
$959.00 annually.
For more information, go to: www.blackboxstocks.com.
Safe Harbor Clause and Forward-Looking Statements
This press release includes forward-looking statements. All
statements other than statements of historical facts contained in
this press release, including statements regarding our future
results of operations and financial position, business strategy and
plans, and our objectives for future operations, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “expose,” “intend,”
“may,” “might,” “opportunity,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “will,” “would” and similar
expressions that convey uncertainty of future events or outcomes
are intended to identify forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us. Future developments
affecting us may not be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond our control) and other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements. These risks and uncertainties include, but are not
limited to, those factors described under the heading “Risk
Factors” in our filings with the Securities and Exchange Commission
(the “SEC”), including our reports on Forms 10-K, 10-Q, 8-K and
other filings that we make with the SEC from time to time. Should
one or more of these risks or uncertainties materialize, or should
any of our assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws. These risks and others described under
“Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. We caution
you that forward-looking statements are not guarantees of future
performance and that our actual results of operations, financial
condition and liquidity, and developments in the industry in which
we operate may differ materially from those made in or suggested by
the forward-looking statements contained in this press release. In
addition, even if our results or operations, financial condition
and liquidity, and developments in the industry in which we operate
are consistent with the forward-looking statements contained in
this press release, those results or developments may not be
indicative of results or developments in subsequent periods.
Disclosure Information
Blackboxstocks uses and intends to continue to use its Investors
website at www.blackboxstocks.com/company-overview as a means of
disclosing material nonpublic information and for complying with
its disclosure obligations under Regulation FD. Accordingly,
investors should monitor the Company’s Investors website, in
addition to following the Company’s press releases, SEC filings,
public conference calls, presentations and webcasts.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230320005159/en/
Investors@blackboxstocks.com
PCG Advisory Stephanie Prince (646) 863-6341
sprince@pcgadvisory.com
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