Benzinga | Jan 5, 2022 07:30AM EST

EXCLUSIVE: Blackboxstocks CEO Sends Shareholders Letter With Corporate Updates

DALLAS, TX -- January 5, 2021-- 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 released a shareholder update.

Dear Shareholders,

As we close the books on 2021, and the new year is upon us, I would like to

recap some of the milestones that Blackbox achieved in 2021 and update

you on initiatives we have in store for 2022. I have always been a firm

believer in the adage "simplicity sells" and am also a fan of brevity whenever

possible. So please consider this a brief, but comprehensive recap and

update with the purpose of keeping our stakeholders informed until we file

our Form-10K with the SEC in March.

On November 10, 2021, BLBX uplisted to the NASDAQ Capital Market

exchange in conjunction with a $12,000,000 initial public offering providing

Blackbox with significant working capital. It also allowed our stock to trade

on an exchange offering exposure to a broad group of investors and

enhanced liquidity for our shareholders. The new surplus of working capital is

a luxury that management has not had in the past. Since the inception of

Blackbox, we have often operated under tight capital constraints that made

the development of our product and scaling of our customer base extremely

challenging. At the same time, we learned how to operate very effectively

and efficiently. We are very thankful for the efficient machine that was

spawned from the lean years at Blackbox.

We had a banner year in 2021!! We reported record revenue in the first

three quarters of the year. We also provided guidance for full year revenue

for 2021 to be in a range between $5.94 and $5.98 million, 76-78% ahead of

2020. Revenue growth was driven by significant membership growth which

grew to and surpassed the milestone of 6,000 paid subscribers in December

2021. While we are very proud of these achievements, it is important for our

shareholders to understand that we have our sights set much higher. We

believe we can improve on our current growth trajectory as well as continue

to enhance the quality and scope of our product.

Currently, we are in the process of completing and implementing multiple

new initiatives that we believe will enable us to substantially grow our

subscriber base and revenue. We have built a brand that is known for its

quality user experience and personalized customer service and we believe

that these new initiatives will allow us to scale our platform without

sacrificing the quality of our brand.

Blackbox is a community driven platform that leverages the power of our

members in a team environment to create what I often refer to as "the best

of man and machine!" We believe our powerful analytics are greatly

enhanced by our community that interprets them. In 2022 we plan to

augment this unique dynamic that has differentiated Blackbox from other

trading tools and fintech platforms. Here are three near term initiatives that

we are finalizing and implementing in order to start 2022 with a strong

trajectory.

1.) Audio Broadcast Upgrade: We have been working on upgrading and

enhancing our audio broadcast capability and the corresponding chat

features. Our goal is to provide for additional rooms and channels as

our community continues to grow. We released the interim version of

this upgrade in December. We expect the full production version of this

upgrade to be released by the end of January.

2.) Native Mobile Apps for iOS and Android: We are in the final stages of

internal testing before we release a beta version of our new native

apps. We are confident that we will recreate the robust user

experience that we offer our desktop users with these new apps,

including the audio broadcast feature that is so popular within our

community. We know offering these apps is imperative for the

continued growth of our user base now that so many new traders are

back at work post-pandemic and we're excited for their launch.

3.) Expansion of Development Team: The recent capital raise has provided

us with the ability to source and acquire additional developers. We

intend to double the number of developers and engineers on our team

in the coming months. We plan to add experts in the areas of UI/UX

Design and Trading Analytics, as well as additional engineers and

developers. Increasing the size of our development team will allow us

to add new features and products more quickly to better serve our

members and drive revenue.

Before closing, I would like to take this opportunity to remind all of our

stakeholders that Blackbox is a platform that caters to traders, and we

appreciate the dynamic created by a two-sided market. As a public

company, we are committed to providing transparency and communicating

effectively with all BLBX participants. As of January 3, 2022, there were

3,650,274 shares of BLBX stock on deposit with the Depository Trust Corp.

(DTC).

I would like to thank all of our shareholders and supporters. Many of you

have been with us since inception, and some of you may have just

purchased shares today. Some of you are shareholders as well as members

of our platform. We appreciate all of you and believe strongly that we are

just getting started and 2022 will be another banner year for Blackbox!