BLACKBOXSTOCKS INC
For the period ended Jun 30, 2024. Filed Aug 15, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 15, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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CAUTION REGARDING FORWARD LOOKING STATEMENTS
Our prospects are subject to uncertainties and risks. In this Quarterly Report on Form 10-Q (the “Report”), we make forward-looking statements that involve substantial uncertainties and risks. When used in this Report, the words “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “intend,” and similar expressions are intended to identify forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) regarding events, conditions and financial trends which may affect our future plans of operations, business strategy, operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties described herein and actual results may differ materially from those included within the forward-looking statements. Additional factors are described in our other public reports and filings with the Securities and Exchange Commission (the “SEC”). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
This Report contains certain estimates and plans related to us and the industry in which we operate, which assume certain events, trends and activities will occur and the projected information based on those assumptions. We do not know that all of our assumptions are accurate. If our assumptions are wrong about any events, trends and activities, then our estimates for future growth for our business may also be wrong. There can be no assurance that any of our estimates as to our business growth will be achieved.
The following discussion and analysis should be read in conjunction with our financial statements and the notes associated with them contained elsewhere in this Report. This discussion should not be construed to imply that the results discussed in this Report will necessarily continue into the future or that any conclusion reached in this Report will necessarily be indicative of actual operating results in the future. The discussion represents only the best assessment of management.
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Blackboxstocks Inc.
Condensed Consolidated Balance Sheets
As of June 30, 2024 and December 31, 2023
| June 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash | $1,055,482 | $472,697 |
| Accounts receivable, net of allowance for doubtful accounts of $68,589 at June 30, 2024 and December 31, 2023, respectively | 17,495 | 18,212 |
| Inventory | 3,464 | 3,464 |
| Marketable securities | - | 2,955 |
| Other receivable | - | 475,000 |
| Prepaid expenses and other current assets | 50,375 | 35,161 |
| Total current assets | 1,126,816 | 1,007,489 |
| Property and equipment: | ||
| Property and equipment, net | 10,930 | 52,281 |
| Right of use lease | 318,636 | 344,370 |
| Total property and equipment | 329,566 | 396,651 |
| Investments | 8,424,000 | 8,424,000 |
| Total assets | $9,880,382 | $9,828,140 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $1,154,315 | $842,404 |
| Accrued interest | 1,613 | 1,613 |
| Unearned subscriptions | 917,954 | 1,295,514 |
| Lease liability right of use, current | 61,725 | 64,818 |
| Note payable, current portion | 25,139 | 28,064 |
| Merchant cash advance | 182,655 | - |
| Other liabilities | 1,500,000 | - |
| Total current liabilities | 3,843,401 | 2,232,413 |
| Long term liabilities: | ||
| Note payable | - | 11,550 |
| Lease liability right of use, long term | 262,543 | 287,417 |
| Total long term liabilities | 262,543 | 298,967 |
| Commitments and contingencies | ||
| Stockholders' equity | ||
| Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively | - | - |
| Series A Convertible Preferred Stock, $0.001 par value, 5,000,000 shares authorized; 3,269,998 issued and outstanding at June 30, 2024 and December 31, 2023, respectively | 3,270 | 3,270 |
| Series B Convertible Preferred Stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively | - | - |
| Common stock, $0.001 par value, 100,000,000 shares authorized: 3,215,528 and 3,223,015 issued and outstanding at June 30, 2024 and December 31, 2023, respectively | 3,215 | 3,223 |
| Treasury stock | - | (27,650) |
| Additional paid in capital | 26,994,498 | 26,802,808 |
| Accumulated deficit | (21,226,545) | (19,484,891) |
| Total stockholders' equity | 5,774,438 | 7,296,760 |
| Total liabilities and stockholders' equity | $9,880,382 | $9,828,140 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.