10-Q Filing

BLACKBOXSTOCKS INC. CIK: 1567900 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-012678`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	blkbx20220331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 40 Cash Flow Statement 64 Stockholders Equity 17

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$2.43M	USD	Point-in-time
Cash	`Cash`	$651.52K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $68,589 at March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$18.59K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $68,589 at March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$11.07K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$68.59K	USD	Point-in-time
Inventory	`InventoryNet`	$14.06K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$68.59K	USD	Point-in-time
Inventory	`InventoryNet`	$13.57K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$8.02M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$7.92M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$227.44K	USD	Point-in-time
Right of use lease, amortization	`LeaseRightOfUseAssetAccumulatedAmortization`	$166.06K	USD	Point-in-time
Right of use lease, amortization	`LeaseRightOfUseAssetAccumulatedAmortization`	$150.83K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$95.59K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.69M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right of use lease, net of amortization of $166,058 and $150,829 at March 31, 2022 and December 31, 2021, respectively	`LeaseRightofuseAsset`	$398.27K	USD	Point-in-time
Right of use lease, net of amortization of $166,058 and $150,829 at March 31, 2022 and December 31, 2021, respectively	`LeaseRightofuseAsset`	$383.04K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentRightOfUseLeaseAssetsAndFinitedLivedIntangibleAssets`	$427.64K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentRightOfUseLeaseAssetsAndFinitedLivedIntangibleAssets`	$448.14K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.19M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.10M	shares	Point-in-time
Total assets	`Assets`	$11.15M	USD	Point-in-time
Total assets	`Assets`	$9.12M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$585.62K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$700.99K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.19M	shares	Point-in-time
Accrued interest	`InterestPayableCurrent`	$6.54K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.10M	shares	Point-in-time
Accrued interest	`InterestPayableCurrent`	$6.54K	USD	Point-in-time
Unearned subscriptions	`DeferredRevenueCurrent`	$1.18M	USD	Point-in-time
Unearned subscriptions	`DeferredRevenueCurrent`	$1.30M	USD	Point-in-time
Lease liability right of use, current	`LeaseLiabilityCurrent`	$66.49K	USD	Point-in-time
Lease liability right of use, current	`LeaseLiabilityCurrent`	$62.63K	USD	Point-in-time
Senior secured note payable, net of debt issuance costs of $33,283 and $46,597 at March 31, 2022 and December 31, 2021, respectively (Note 7)	`SeniorNotesCurrent`	$926.72K	USD	Point-in-time
Senior secured note payable, net of debt issuance costs of $33,283 and $46,597 at March 31, 2022 and December 31, 2021, respectively (Note 7)	`SeniorNotesCurrent`	$943.40K	USD	Point-in-time
Note payable, current portion (Note 7)	`NonconvertibleNotesPayableCurrent`	$28.45K	USD	Point-in-time
Note payable, current portion (Note 7)	`NonconvertibleNotesPayableCurrent`	$28.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.91M	USD	Point-in-time
Note payable, net of current portion (Note 7)	`NotesPayableRelatedPartiesNoncurrent`	$68.35K	USD	Point-in-time
Note payable, net of current portion (Note 7)	`NotesPayableRelatedPartiesNoncurrent`	$61.26K	USD	Point-in-time
Lease liability right of use, long term	`LeaseLiabilityNoncurrent`	$316.55K	USD	Point-in-time
Lease liability right of use, long term	`LeaseLiabilityNoncurrent`	$335.64K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$403.99K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$377.81K	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized: 13,185,659 and 13,099,272 issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$13.10K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized: 13,185,659 and 13,099,272 issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$13.19K	USD	Point-in-time
Common stock payable	`CommonStockPayable`	$22.50K	USD	Point-in-time
Common stock payable	`CommonStockPayable`	$15.00K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	-	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$859.61K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$17.70M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$17.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-1.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.82M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-1.43M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.15M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.12M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.49M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.27M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$579.96K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$395.77K	USD	1 Quarter
Gross margin	`GrossProfit`	$1.09M	USD	1 Quarter
Gross margin	`GrossProfit`	$692.52K	USD	1 Quarter
Software development costs	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$130.44K	USD	1 Quarter
Software development costs	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$184.88K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$606.69K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$298.80K	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$207.31K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.32K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.28K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.71M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$948.76K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$145.13K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.02M	USD	1 Quarter
Interest expense	`InterestExpenseDebtExcludingAmortization`	$29.24K	USD	1 Quarter
Interest expense	`InterestExpenseDebtExcludingAmortization`	$41.04K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$13.31K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$91.54K	USD	1 Quarter
Investment loss	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Investment loss	`UnrealizedGainLossOnInvestments`	$-178.73K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-221.29K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-132.58K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.55K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.24M	USD	1 Quarter
Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income Taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$12.55K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.24M	USD	1 Quarter
Weighted average number of common shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.18M	shares	1 Quarter
Weighted average number of common shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.51M	shares	1 Quarter
Weighted average number of common shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.18M	shares	1 Quarter
Weighted average number of common shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.78M	shares	1 Quarter
Net income (loss) per share - basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share - basic (in dollars per share)	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Net income (loss) per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$12.55K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.24M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$4.32K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$5.28K	USD	1 Quarter
Amortization of note discount and issuance costs	`AmortizationOfNoteDiscountPremium`	$13.31K	USD	1 Quarter
Amortization of note discount and issuance costs	`AmortizationOfNoteDiscountPremium`	$104.85K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$122.03K	USD	1 Quarter
Right of use lease	`NoncashPortionOfLeaseExpense`	-	USD	1 Quarter
Right of use lease	`NoncashPortionOfLeaseExpense`	$-506.00	USD	1 Quarter
Investment loss	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Investment loss	`UnrealizedGainLossOnInvestments`	$-178.73K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.99K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.51K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$355.00	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$495.00	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets`	$-15.60K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesAndOtherCurrentAssets`	$-131.85K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$115.37K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-2.39K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Unearned subscriptions	`IncreaseDecreaseInContractWithCustomerLiability`	$78.84K	USD	1 Quarter
Unearned subscriptions	`IncreaseDecreaseInContractWithCustomerLiability`	$-124.33K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$231.91K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-793.19K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.23K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$9.86M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.77M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.23K	USD	1 Quarter
Common stock and warrants issued for cash	`ProceedsFromIssuanceOfCommonStock`	$150.51K	USD	1 Quarter
Common stock and warrants issued for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Common stock subscribed	`PaymentsForCommonStockSubscribed`	$12.50K	USD	1 Quarter
Common stock subscribed	`PaymentsForCommonStockSubscribed`	-	USD	1 Quarter
Principal payments on senior secured note payable	`RepaymentOfSeniorSecuredNotesPayable`	-	USD	1 Quarter
Principal payments on senior secured note payable	`RepaymentOfSeniorSecuredNotesPayable`	$30.00K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$7.08K	USD	1 Quarter
Principal payments on notes payable	`RepaymentsOfNotesPayable`	$832.00	USD	1 Quarter
Principal payments on convertible notes payable	`RepaymentsOfConvertibleNotePayable`	$196.21K	USD	1 Quarter
Principal payments on convertible notes payable	`RepaymentsOfConvertibleNotePayable`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$859.61K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.03K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-896.70K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$141.64K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.77M	USD	1 Quarter
Cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$651.52K	USD	Point-in-time
Cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.11M	USD	Point-in-time
Cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.43M	USD	Point-in-time
Cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$972.83K	USD	Point-in-time
Cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$651.52K	USD	Point-in-time
Cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.11M	USD	Point-in-time
Cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.43M	USD	Point-in-time
Cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$972.83K	USD	Point-in-time
Interest paid	`InterestPaidNet`	$29.24K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$43.42K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Common stock issued in settlement of accrued liabilities	`StockIssuedSettlementOfAccruedLiabilities`	$180.00K	USD	1 Quarter
Common stock issued in settlement of accrued liabilities	`StockIssuedSettlementOfAccruedLiabilities`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.43M	USD	Point-in-time
Issuance of shares for cash, net of fees (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	2.40M	shares	Point-in-time
Issuance of shares for cash, net of fees	`StockIssuedDuringPeriodValueNewIssues`	$138.01K	USD	1 Quarter
Issuance of shares in settlement of liabilities	`StockIssuedDuringPeriodValueSettlementOfLiabilities`	$180.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$12.55K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.24M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$859.61K	USD	1 Quarter
Cashless exercise of warrants	`StockIssuedDuringPeriodValueCashlessWarrantExercise`	-	USD	1 Quarter
Issuance of options for compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$82.65K	USD	1 Quarter
Common stock payable for compensation	`CommonStockPayableForCompensationEquityImpact`	$7.50K	USD	1 Quarter
Balance	`StockholdersEquity`	$-1.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.43M	USD	Point-in-time

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