Cash Position
The company has 5.4 months of cash left based on the quarterly cash burn of $176.43 k and estimated current cash of $317.81 k
Commentary on Financial Condition
The company is facing significant financial challenges, with substantial doubt about its ability to continue as a going concern due to operating and net losses in 2024 and 2023. The company has entered into a Merger Agreement with REalloys, which is expected to provide $5,000,000 upon completion, but there is no assurance that the merger and related financing will be completed. Additionally, the company has secured a Purchase Agreement for up to $2,300,000, with $1,050,000 already received, but further funding is contingent on the merger's progress. The company has also filed a shelf registration statement to raise up to $50,000,000, but there is no guarantee of success in raising this capital., Filed At: 2025-03-21
Former Symbols
Nasdaq Compliance
Date
Deficiency
Market
Status
Notes
Jan 13, 2025
Board Independence
NCM
RESOLVED
Blackboxstocks Inc. has recently addressed its Nasdaq compliance with the Board Independence rule by appointing Grant Evans as a new director on January 27, 2025, ensuring the board maintains a majority of independent directors as required by Nasdaq rules. This appointment follows previous compliance issues related to board composition after the passing of a director, with a cure period extending until January 4, 2026, or July 3, 2025, depending on the timing of the annual meeting. Filed At: 2025-03-21.
Jan 13, 2025
Annual Shareholder Meeting
NCM
RESOLVED
Blackboxstocks Inc. has notified Nasdaq of non-compliance for not holding its 2024 annual meeting by the end of 2024. The company has scheduled the annual meeting for February 7, 2025, and has until February 27, 2025, to submit a compliance plan. Filed At: 2025-01-16.
Jan 13, 2025
Audit Committee Composition
NCM
RESOLVED
Blackboxstocks Inc. has addressed its Nasdaq compliance issues related to the Audit Committee Composition rule by appointing Grant Evans as a new director on January 27, 2025. His appointment ensures the board maintains a majority of independent directors as required by Nasdaq rules, following the passing of a previous director. Filed At: 2025-03-21.
Previous Splits
Date
Split
4/11/2023
4 to 1
7/16/2019
3 to 1
Shelf
Title | Raisable Amt | Offering Amt | Amt Sold Last 12 Mos | Float | 60 Day High | Price to Exceed Baby Shelf | Float Value | Exp Date | Effective date | |
|---|---|---|---|---|---|---|---|---|---|---|
January 2025 SHELF | $2,569,312.00 | $50.00 M | 0 | 1.89 M | 4.08 | 39.7 | 7.71 M | 2/11/2028 | 2/11/2025 |
Convertibles
Title | Registered | Shares Remaining | Cv Price | $ Amt Remaining | Total $ Amt | Owners | Bank | Price Protection | Details | Convertible Date | Maturity Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
January 2025 - Additional Debentures | Registered | 110,000 | $5.00 | $550,000.00 | $550,000.00 | Five Narrow Lane | Palladium Capital Group, LLC | Customary Anti-Dilution | Conversion price is 175% of the closing price of the Company’s common stock with a minimum price of $5.00 per share. additional funding will be contingent on these milestones: - Exchange of Initial Debentures: $250,000 in principal amount credited from the exchange of Initial Debentures. - Execution and Delivery of a Merger Agreement: $500,000 upon the execution and delivery of a Merger Agreement. - Filing of a Registration Statement on Form S-4: $750,000 upon filing with the Securities and Exchange Commission of a registration statement on Form S-4 in connection with the Merger Transaction. - Effectiveness of the Registration Statement: $500,000 upon the registration statement being declared effective. Registration effective on 5/6/25 | Jan 22, 2025 | Mar 15, 2025 | Jan 22, 2025 |
Completed Offerings
Title | Offering Amt | Shr Amt | Share Price | Warrants | Bank | Owners | Date | Type | |
|---|---|---|---|---|---|---|---|---|---|
PREFERRED SHARE ISSUANCE FOR ACQUISTION | $5.00 M | - | - | 5.00 M | Palladium Capital Group, LLC | - | Mar 10, 2025 | 8-K | |
PRIVATE PLACEMENT, DEBT OFFERING (To be paid in tranches contingent on milestones) | $550.00 k | - | - | - | Palladium Capital Group, LLC | Five Narrow Lane | Jan 22, 2025 | 8-K | |
PRIVATE PLACEMENT | $1.25 M | 312.50 k | $4.00 | 0.00 | - | Insiders | Jul 2, 2024 | 8-K | |
UPLIST | $12.00 M | 600.00 k | $20.00 | 0.00 | Alexander Capital | - | Nov 10, 2021 | 8-K |