10-Q Filing

BLACKBOXSTOCKS INC. CIK: 1567900 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-014079`
Period End Date	20200331
Filing Date	20200629
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	blbx-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 40 Cash Flow Statement 64 Stockholders Equity 14

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$74.97K	USD	Point-in-time
Cash	`Cash`	$21.17K	USD	Point-in-time
Cash	`Cash`	$28.00K	USD	Point-in-time
Cash	`Cash`	$24.65K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $68,589 at March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$3.88K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $68,589 at March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$5.75K	USD	Point-in-time
Advances receivable, related parties (Note 5)	`AccountsReceivableRelatedPartiesCurrent`	$9.82K	USD	Point-in-time
Advances receivable, related parties (Note 5)	`AccountsReceivableRelatedPartiesCurrent`	$1.87K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$68.59K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$68.59K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.74K	USD	Point-in-time
Right of use lease, amortization	`LeaseRightOfUseAssetAccumulatedAmortization`	$63.67K	USD	Point-in-time
Right of use lease, amortization	`LeaseRightOfUseAssetAccumulatedAmortization`	$51.01K	USD	Point-in-time
Right of use lease, net of amortization of $63,672 and $51,009 at March 31, 2020 and December 31, 2019, respectively	`LeaseRightofuseAsset`	$96.46K	USD	Point-in-time
Right of use lease, net of amortization of $63,672 and $51,009 at March 31, 2020 and December 31, 2019, respectively	`LeaseRightofuseAsset`	$109.06K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentRightOfUseLeaseAssetsAndFinitedLivedIntangibleAssets`	$126.33K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentRightOfUseLeaseAssetsAndFinitedLivedIntangibleAssets`	$110.24K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseNoncurrent`	$80.87K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseNoncurrent`	$80.87K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses, related party (Note 5)	`PrepaidExpensesRelatedPartyNoncurrent`	$36.70K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses, related party (Note 5)	`PrepaidExpensesRelatedPartyNoncurrent`	$36.70K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total long term assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$117.57K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total long term assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$117.57K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total Assets	`Assets`	$280.64K	USD	Point-in-time
Total Assets	`Assets`	$308.52K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.91M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.96M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$639.57K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.91M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$632.29K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.96M	shares	Point-in-time
Accrued interest	`InterestPayableCurrent`	$71.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$42.57K	USD	Point-in-time
Accrued interest, related party	`InterestPayableRelatedPartyCurrent`	$20.32K	USD	Point-in-time
Accrued interest, related party	`InterestPayableRelatedPartyCurrent`	$16.68K	USD	Point-in-time
Unearned subscriptions	`DeferredRevenueCurrent`	$262.09K	USD	Point-in-time
Unearned subscriptions	`DeferredRevenueCurrent`	$189.01K	USD	Point-in-time
Lease liability right of use, current	`LeaseLiabilityCurrent`	$46.12K	USD	Point-in-time
Lease liability right of use, current	`LeaseLiabilityCurrent`	$45.15K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$180.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$180.00K	USD	Point-in-time
Convertible notes payable, net of discount of $97,808 and $13,859 at March 31, 2020 and December 31, 2019, respectively (Note 8)	`ConvertibleNotesPayableCurrent`	$634.69K	USD	Point-in-time
Convertible notes payable, net of discount of $97,808 and $13,859 at March 31, 2020 and December 31, 2019, respectively (Note 8)	`ConvertibleNotesPayableCurrent`	$593.89K	USD	Point-in-time
Notes payable, net of note discount of $72,237 and $38,294 at March 31, 2020 and December 31, 2019, respectively (Note 6)	`NonconvertibleNotesPayableCurrent`	$218.14K	USD	Point-in-time
Notes payable, net of note discount of $72,237 and $38,294 at March 31, 2020 and December 31, 2019, respectively (Note 6)	`NonconvertibleNotesPayableCurrent`	$275.08K	USD	Point-in-time
Notes payable, related party (Note 7)	`NotesPayableRelatedPartiesClassifiedCurrent`	$198.00K	USD	Point-in-time
Notes payable, related party (Note 7)	`NotesPayableRelatedPartiesClassifiedCurrent`	$228.00K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.41M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.45M	USD	Point-in-time
Lease liability right of use, long term	`LeaseLiabilityNoncurrent`	$66.72K	USD	Point-in-time
Lease liability right of use, long term	`LeaseLiabilityNoncurrent`	$55.95K	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized: 7,958,236 and 7,908,231 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$7.91K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized: 7,958,236 and 7,908,231 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$7.96K	USD	Point-in-time
Common stock, subscribed	`CommonStockSharesSubscriptions`	$35.06K	USD	Point-in-time
Common stock, subscribed	`CommonStockSharesSubscriptions`	$35.06K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.44M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.83M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.20M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$308.52K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$280.64K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$415.25K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$226.35K	USD	1 Quarter
Cost of operations	`CostOfRevenue`	$161.32K	USD	1 Quarter
Cost of operations	`CostOfRevenue`	$207.85K	USD	1 Quarter
Gross margin	`GrossProfit`	$65.03K	USD	1 Quarter
Gross margin	`GrossProfit`	$207.40K	USD	1 Quarter
Software development costs	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$34.33K	USD	1 Quarter
Software development costs	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$21.98K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$227.88K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$400.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.23K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.49K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$438.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$255.10K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-230.71K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-190.06K	USD	1 Quarter
Interest expense	`InterestExpenseDebtExcludingAmortization`	$18.44K	USD	1 Quarter
Interest expense	`InterestExpenseDebtExcludingAmortization`	$33.49K	USD	1 Quarter
Convertible note financing	`ConvertibleNoteFinancingExpense`	-	USD	1 Quarter
Convertible note financing	`ConvertibleNoteFinancingExpense`	$217.78K	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$601.17K	USD	1 Quarter
Default expense	`ConvertibleNoteDefaultExpense`	-	USD	1 Quarter
Default expense	`ConvertibleNoteDefaultExpense`	$24.75K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$51.61K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Incomce (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.83K	USD	1 Quarter
Incomce (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-208.50K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$42.83K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Weighted average number of common shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.69M	shares	1 Quarter
Weighted average number of common shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.94M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.55M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	-	shares	1 Quarter
Net income (loss) per share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income (loss) per share - basic (in dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Net income per share - fully diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income per share - fully diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$42.83K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$3.49K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$5.23K	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Amortization of note discount	`AmortizationOfNoteDiscountPremium`	$51.61K	USD	1 Quarter
Amortization of note discount	`AmortizationOfNoteDiscountPremium`	$10.40K	USD	1 Quarter
Shares issued in settlement of financing costs	`IssuanceOfStockInSettlementOfFinancingCosts`	-	USD	1 Quarter
Shares issued in settlement of financing costs	`IssuanceOfStockInSettlementOfFinancingCosts`	$100.00K	USD	1 Quarter
Expenses paid by lendor	`ExpensesPaidByLender`	$6.13K	USD	1 Quarter
Expenses paid by lendor	`ExpensesPaidByLender`	-	USD	1 Quarter
Convertible note financing	`ConvertibleNoteFinancingExpense`	-	USD	1 Quarter
Convertible note financing	`ConvertibleNoteFinancingExpense`	$217.78K	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnDerivativeInstrumentsNetPretax`	$601.17K	USD	1 Quarter
Convertible note default expense	`ConvertibleNoteDefaultExpense`	-	USD	1 Quarter
Convertible note default expense	`ConvertibleNoteDefaultExpense`	$24.75K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.87K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.28K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$78.85K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$28.43K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$3.67K	USD	1 Quarter
Accrued interest, related party	`IncreaseDecreaseInInterestPayableRelatedParty`	$3.64K	USD	1 Quarter
Accrued interest, related party	`IncreaseDecreaseInInterestPayableRelatedParty`	$3.60K	USD	1 Quarter
Unearned subscriptions	`IncreaseDecreaseInContractWithCustomerLiability`	$4.66K	USD	1 Quarter
Unearned subscriptions	`IncreaseDecreaseInContractWithCustomerLiability`	$73.08K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-105.09K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-40.28K	USD	1 Quarter
Common stock subscribed	`ProceedsFromSubscriptionOfCommonStock`	-	USD	1 Quarter
Common stock subscribed	`ProceedsFromSubscriptionOfCommonStock`	$10.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$127.10K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$88.75K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$100.00K	USD	1 Quarter
Repayment of notes payable	`RepaymentsOfNotesPayable`	$110.98K	USD	1 Quarter
Repayment of notes payable	`RepaymentsOfNotesPayable`	$29.86K	USD	1 Quarter
Cash advances from related parties	`ProceedsFromRelatedPartyDebt`	$61.43K	USD	1 Quarter
Cash advances from related parties	`ProceedsFromRelatedPartyDebt`	$5.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$101.74K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$94.07K	USD	1 Quarter
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-3.35K	USD	1 Quarter
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$53.80K	USD	1 Quarter
Cash - beginning of period	`Cash`	$74.97K	USD	Point-in-time
Cash - beginning of period	`Cash`	$21.17K	USD	Point-in-time
Cash - beginning of period	`Cash`	$28.00K	USD	Point-in-time
Cash - beginning of period	`Cash`	$24.65K	USD	Point-in-time
Cash - end of period	`Cash`	$74.97K	USD	Point-in-time
Cash - end of period	`Cash`	$21.17K	USD	Point-in-time
Cash - end of period	`Cash`	$28.00K	USD	Point-in-time
Cash - end of period	`Cash`	$24.65K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Repayment of note in exchange for note payable	`NotesPayableExchangedWithNotePayable`	$39.37K	USD	1 Quarter
Repayment of note in exchange for note payable	`NotesPayableExchangedWithNotePayable`	-	USD	1 Quarter
Repayment of note payable, related party in exchange for advances	`NotePayableRelatedPartyExchangedForAdvances`	-	USD	1 Quarter
Repayment of note payable, related party in exchange for advances	`NotePayableRelatedPartyExchangedForAdvances`	$2.95K	USD	1 Quarter
Lease, right of use and liability	`RightOfUseAssetAndLiabilityForLease`	$160.07K	USD	1 Quarter
Lease, right of use and liability	`RightOfUseAssetAndLiabilityForLease`	-	USD	1 Quarter
Discount on notes payable	`DiscountOnNotesPayable`	$16.45K	USD	1 Quarter
Discount on notes payable	`DiscountOnNotesPayable`	$69.50K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.20M	USD	Point-in-time
Issuance of shares for cash (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	50,000.00	shares	Point-in-time
Issuance of shares for cash	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Common stock shares, subscribed	`StockSubscribedDuringPeriodValue`	$10.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$42.83K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-208.50K	USD	1 Quarter
Issuance of shares in settlement of expenses	`StockIssuedDuringPeriodValueIssuedForServices`	$100.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.20M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.