Blackboxstocks Inc. Closes $1.5 Million Private Placement Financing
Blackboxstocks Inc. (OTC:BLBX) ("Blackbox") announced today the closing of a private placement financing in the amount of US$ 1,500,000 consisting of the sale of 3,000,000 shares of common stock at a price of US$ .
Blackboxstocks Inc. (OTC:BLBX) ("Blackbox") announced today the closing of a private placement financing in the amount of US$ 1,500,000 consisting of the sale of 3,000,000 shares of common stock at a price of US$ .50 per share. This transaction was completed on October 27 th, 2016 and is referenced in an 8-K filing dated October 27 th, 2016. The entire private placement round was purchased by Mr. Stephen Chiang, a resident of Singapore. Stephen Chiang, age 33, is the founder of UNOChat Business Communication Platform, a division of UNO Ventures, a Singapore based corporation. UNOChat is a global platform that facilitates the promotion of business products and services through its social network. "I am very pleased to announce the completion of this funding by Mr. Stephen Chiang," said Founder and CEO Gust Kepler. "Mr. Chiang has extensive knowledge and experience in the digital marketing arena and I believe he saw the enormous potential our technology has on a global scale!" added Kepler. The majority of the proceeds from this financing are expected to be used for continued product development and marketing of the Blackboxstocks trading platform. Blackbox began an extensive beta testing program in June of 2016 and initiated a soft launch for paying subscribers in September 2016. About Blackboxstocks Inc. Blackboxstocks Inc. is a Nevada corporation headquartered in Dallas, Texas. We develop real-time, web and mobile based analytical software tools for day traders and swing traders. Our servers, located in close proximity to the NYSE, AMEX, NASDAQ, and OTC exchanges, drive our proprietary algorithms at near light speed. This allows our system to monitor and analyze over 13,000 stocks simultaneously. Our platform employs predictive technology enhanced by artificial intelligence to find volatility and unusual market activity that can result in the rapid change in a stock's price. The complexity of our backend analytics are neatly hidden from the end user by our simple and easy to use interface/dashboard. Our mission is to provide our users accurate information in a quick and concise user friendly format to enable them to take advantage of lucrative market opportunities. We intend to derive the majority of our revenue by selling monthly subscriptions while other ancillary revenue sources may include referral fees and online advertising.