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.
For additional information visit: www.blackboxstocks.comCaution Regarding Forward-Looking Statements Our prospects 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 in our other filings with the Securities Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.