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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. Its web-based software (the Blackbox System) employs predictive technology enhanced by artificial intelligence to find volatility and unusual market activity that may result in a rapid change in the price of a stock or option. It provides users with a fully interactive social media platform that is integrated into its dashboard, enabling users to exchange information and ideas quickly and efficiently through a common network. The company introduced a live audio/video feature that allows members to broadcast on their channels to share trading strategies and market insight within the Blackbox community.
Blackboxstocks (NASDAQ: BLBX) has closed a $1.25 million private placement priced at $4.00 per share. The company will invest $1.15 million into Evtec Aluminium and retain $100,000 for working capital. As a result, Blackbox's ownership in the combined entity with Evtec Aluminium will increase from 26.2% to 29.4%.
This investment aims to enhance Evtec's manufacturing capabilities and facilitate growth initiatives. Blackbox and Evtec amended their Share Exchange Agreement to reflect these investments. The private placement was led by Quadrofoglio with $1.15 million and a $100,000 investment from Blackbox CEO Gust Kepler.
Blackbox's advanced analytics will support Evtec's manufacturing operations. Evtec Aluminium is a leading manufacturer of advanced aluminium castings for premium automotive brands, focusing on electric vehicle parts and local supply chain expansion in the UK.
Blackboxstocks (NASDAQ: BLBX) filed Form S-4 on May 13, 2024, for its planned acquisition of Evtec Aluminium SEC and Nasdaq approvals are pending. In the first quarter of 2024, Blackbox reported revenues of $649,420, a decrease from $859,004 in Q1 2023. The average member count dropped by 17.2% year-over-year to 2,944. However, operating expenses were cut by 51% to $1,155,428. Subsequently, the operating loss lessened by 56% to $863,966. The company plans to launch a new product, StockNanny, in June 2024. CEO Gust Kepler emphasized stabilization in membership and ongoing strategic initiatives.
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