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Blackboxstocks Retires Additional 1.1 Million Common Shares
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Blackboxstocks Inc. (NASDAQ: BLBX) has announced the retirement of 1,130,002 common shares acquired from CEO Gust Kepler at $0.07 per share. This action increases the total retired shares to 1,817,763, including previously retired shares held in treasury. Following this, the company will have 12,503,946 common shares outstanding. Blackbox initiated a $2.5 million stock repurchase plan in January 2022, with approximately $1.4 million remaining. CFO Robert Winspear stated that this move exemplifies the commitment to enhancing shareholder value and aims to create a cleaner capital structure for future growth.
Positive
Retirement of 1,130,002 shares enhances shareholder value.
Total of 1,817,763 shares retired signals commitment to capital strategy.
Remaining $1.4 million in repurchase plan supports potential future buybacks.
Negative
None.
Action Follows Recent Retirement of 688,000 Common Shares
DALLAS--(BUSINESS WIRE)--
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.
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.
