Blackboxstocks Inc. Files Q2 2024 10-Q, Notes Acquisition

TL;DR

BLACKBOXSTOCKS (BLBX) Q2 10-Q filed. Major acquisition agreement with Quadrofoglio Holdings LLC signed July 1st. Watch this space.

AI Summary

Blackboxstocks Inc. filed its 10-Q for the period ending June 30, 2024. A significant subsequent event noted is the Stock Purchase Agreement with Quadrofoglio Holdings LLC, effective July 1, 2024. The company's fiscal year ends on December 31st, and its principal business address is in Dallas, TX.

Why It Matters

This filing provides insight into Blackboxstocks' financial health and strategic moves, including a recent acquisition agreement that could impact future performance.

Risk Assessment

Risk Level: medium — The company is in the computer programming services sector, which can be competitive, and the filing details a significant acquisition which carries inherent integration risks.

Key Players & Entities

• BLACKBOXSTOCKS INC. (company) — Filer of the 10-Q
• Quadrofoglio Holdings LLC (company) — Party to a Stock Purchase Agreement
• 20240630 (date) — End of reporting period
• 20240815 (date) — Filing date
• 2024-07-01 (date) — Effective date of Stock Purchase Agreement

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BLBX The Nasdaq Stock Mar

Filing Documents

• blkbx20240630_10q.htm (10-Q) — 1023KB
• ex_712946.htm (EX-31.1) — 12KB
• ex_712947.htm (EX-31.2) — 12KB
• ex_712948.htm (EX-32.1) — 5KB
• ex_713542.htm (EX-32.2) — 5KB
• 0001437749-24-027047.txt ( ) — 4351KB
• blbx-20240630.xsd (EX-101.SCH) — 41KB
• blbx-20240630_def.xml (EX-101.DEF) — 302KB
• blbx-20240630_lab.xml (EX-101.LAB) — 276KB
• blbx-20240630_pre.xml (EX-101.PRE) — 325KB
• blbx-20240630_cal.xml (EX-101.CAL) — 35KB
• blkbx20240630_10q_htm.xml (XML) — 377KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 2 Item 1. Condensed Consolidated Financial Statements 2 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 (Unaudited) 2 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statement of Stockholders ' Equity for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements 6 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17

– OTHER INFORMATION

PART II – OTHER INFORMATION 18 Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 19

SIGNATURES

SIGNATURES 19 Table of Contents INTRODUCTORY COMMENT Throughout this Quarterly Report on Form 10-Q, the terms "we," "us," "our," "Blackboxstocks," or the "Company" refers to Blackboxstocks Inc., a Nevada corporation. 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

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Blackboxstocks Inc. Condensed Consolidated Balance Sheets As of June 30, 2024 and December 31, 2023 (Unaudited) 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 - -

View Full Filing

View this 10-Q filing on SEC EDGAR