DALLAS, May 16, 2024 (GLOBE NEWSWIRE) -- Blackboxstocks Inc. (NASDAQ:BLBX), ("Blackbox" or the "Company"), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, announced that it filed its Form S-4 on May 13, 2024, for its acquisition of Evtec Aluminium Ltd. and today reported its financial results for the first quarter ended March 31, 2024. The filing of the S-4 was a significant milestone in the Company's planned acquisition of Evtec Aluminium Ltd. Pending SEC and Nasdaq approval, the Company expects to consummate the merger as soon as possible. First Quarter Financial and Operating Highlights: Total revenue for the first quarter of 2024 was $649,420 as compared to $859,004 for the same period in 2023. Average member count of 2,944 was 17.2% lower than the first quarter of 2023 but approximately equal to the fourth quarter of 2023. Operating expenses decreased by 51% to $1,155,428 in the first quarter of 2024 compared to $2,358,177 for the same period in 2023. Stock based compensation declined from $768,126 in the first quarter of 2023 to $114,666 in the first quarter of 2024. Operating loss decreased by 56% to $863,966 for the first quarter of 2024 as compared to $1,946,804 in the first quarter of 2023. Filed a Registration Statement on Form S-4 including an Information Statement/Prospectus regarding the acquisition of Evtec Aluminium Limited on May 13, 2024 Gust Kepler, Chief Executive Officer, commented, "The significant reduction in our operating loss for the first quarter reflects the stabilization of our membership over the past several quarters within the core business as well as lower operating expenses. We have completed development for our new portfolio alert product StockNanny, which we are planning to launch in June of this year. We acquired 13% of Evtec Automotive Ltd., the sister company to Evtec Aluminium in Q2 2023, which we may seek to acquire following the acquisition of the Evtec Aluminium Ltd. as part of a larger roll-up strategy. The acquisition of Evtec Aluminium Ltd. has taken longer than expected, however we are pleased to announce that we have an S-4 filed and are working diligently to complete this transaction." Gust Kepler continued, "Despite 2023 being a challenging year for our company, we have pivoted swiftly to implement multiple strategic and operational initiatives for 2024 and I am confident that our stockholders will be well rewarded for their faith in our company." Summary financial data is presented in the tables below. Please see the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 15, 2024, for additional information. About Blackboxstocks, Inc. Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs "predictive technology" enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/video feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans over 40 countries; current subscription fees are $99.97 per month or $959.00 annually. For more information, go to: https://blackboxstocks.com Safe Harbor Statement Our prospects here at Blackbox stocks 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. Disclosure of Non-GAAP Financial Measures We report our financial results in accordance with accounting principles generally accepted in the United States of America ("GAAP"). However, management believes the presentation of certain non-GAAP financial measures provides useful information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations, and that when GAAP financial measures are viewed in conjunction with the non-GAAP financial measures, investors are provided with a more meaningful understanding of the Company's ongoing operating performance. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for evaluating performance. For all non-GAAP financial measures in this release, we have provided corresponding GAAP financial measures for comparative purposes in the report. We refer to the term "EBITDA" in various places of our financial discussion. EBITDA is defined by us as net income (loss) from continuing operations before interest expense, income tax, depreciation and amortization expense and certain non-cash expenses including stock-based compensation. EBITDA is not a measure of operating performance under GAAP and therefore should not be considered in isolation nor construed as an alternative to operating profit, net income (loss) or cash flows from operating, investing or financing activities, each as determined in accordance with GAAP. Also, EBITDA should not be considered as a measure of liquidity. Moreover, since EBITDA is not a measurement determined in accordance with GAAP, and thus is susceptible to varying interpretations and calculations, EBITDA, as presented, may not be comparable to similarly titled measures presented by other companies. Contacts: PCG AdvisoryJeff -Tables Follow- Blackboxstocks Inc.   Summary Balance Sheet Data   As of March 31, 2024 and December 31 2023                           March 31, 2024   December 31, 2023   Assets                           Cash   $ 114,968     $ 472,697     Receivables     16,194       493,212     Other current assets     103,275       41,580     Total current assets   $ 234,437