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Blackboxstocks Announces Stock
Repurchase Program of up to $2.5 Million
DALLAS, TX – January 10, 2021-- InvestorsHub NewsWire
-- Blackboxstocks Inc. (NASDAQ: BLBX) ("Blackbox"), a financial technology and
social media hybrid platform offering real-time proprietary
analytics for stock and options traders of all levels, today
announced that the Company's Board of Directors has approved a
stock repurchase program for up to $2.5 million of the Company's
common stock.
The repurchase plan will expire on December 31, 2022. The
timing and actual number of shares repurchased will depend on a
variety of factors including but not limited to share price,
trading volume, general business and market conditions as well as
other potential investment opportunities. The repurchase program
will be executed consistent with the Company's capital allocation
strategy, which will continue to prioritize aggressive investments
to grow the business.
"This stock repurchase program demonstrates management's
confidence in our business prospects and enables us to purchase
shares at what we believe to be a significant discount to their
intrinsic value," said Robert Winspear, Chief Financial Officer of
Blackboxstocks. "We believe we can leverage the strength of our
balance sheet to execute this plan without impeding any of our
growth initiatives."
Under the repurchase program, repurchases can be made from
time to time using a variety of methods, including open market
purchases, all in compliance with the rules of the United States
Securities and Exchange Commission and other applicable legal
requirements.
The repurchase program does not obligate the Company to
acquire any specific amount of the Company's common stock, and may
be suspended, modified or discontinued at any time at the Company's
discretion.
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. For more information, go to:
www.blackboxstocks.com
Safe Harbor Statement
Our prospects here at Blackboxstocks are subject to
uncertainties and risks. This press release contains
forward-looking statements that involve substantial uncertainties
and risks. These forward-looking statements are based upon our
current expectations, estimates and projections about our business,
and reflect our beliefs and assumptions based upon information
available to us at the date of this press release. In some cases,
you can identify these statements by words such as "if," "may,"
"might," "will, "should," "expects," "plans," "anticipates,"
"believes," "estimates," "predicts," "potential," "continue," and
other similar terms. These forward-looking statements include,
among other things, plans for proposed operations, descriptions of
our strategies, our product and market development plans, and other
objectives, expectations and intentions, the trends we anticipate
in our business and the markets in which we operate, and the
competitive nature and anticipated growth of those markets. We
caution readers that forward-looking statements are predictions
based on our current expectations about future events. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and assumptions that are
difficult to predict. Our actual results, performance or
achievements could differ materially from those expressed or
implied by the forward-looking statements as a result of a number
of factors including, but not limited to, the risks and
uncertainties discussed under risk factors in our registration
statement on Form S-1, as amended (File No. 333- 260065) as well as
our other filings with the SEC. We undertake no obligation to
revise or update any forward-looking statement for any
reason.
Contacts:
Investors@blackboxstocks.com
John
McNamara
TraDigital
IR
1-917-658-2602
john@tradigitalir.com