Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 12, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-41051 | |
Entity Registrant Name | BLACKBOXSTOCKS INC. | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 45-3598066 | |
Entity Address, Address Line One | 5430 LBJ Freeway, Suite 1485 | |
Entity Address, City or Town | Dallas | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 75240 | |
City Area Code | 972 | |
Local Phone Number | 726-9203 | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | BLBX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 3,187,815 | |
Entity Central Index Key | 0001567900 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Balance Sheets (Current Period
Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash | $ 463,288 | $ 425,578 |
Accounts receivable, net of allowance for doubtful accounts of $68,589 at September 30, 2023 and December 31, 2022, respectively | 82,098 | 59,613 |
Inventory | 3,464 | 15,464 |
Marketable securities | 2,276 | 3,216,280 |
Prepaid expenses and other current assets | 259,393 | 190,120 |
Total current assets | 810,519 | 3,907,055 |
Property and equipment: | ||
Right of use lease, net of amortization of $266,476 and $213,459 at September 30, 2023 and December 31, 2022, respectively | 282,623 | 335,640 |
Total property and equipment | 346,017 | 428,726 |
Investments | 8,424,000 | 0 |
Total assets | 9,580,536 | 4,335,781 |
Liabilities, Current [Abstract] | ||
Accounts payable and accrued expenses | 825,087 | 730,099 |
Accrued interest | 1,613 | 1,613 |
Unearned subscriptions | 571,379 | 1,022,428 |
Lease liability right of use, current | 66,079 | 70,002 |
Note payable, current portion (Note 8) | 28,950 | 28,733 |
Total current liabilities | 1,493,108 | 1,852,875 |
Long term liabilities: | ||
Lease liability right of use, long term | 216,545 | 265,639 |
Total long term liabilities | 234,419 | $ 305,253 |
Commitments and Contingencies | ||
Common Stock, Shares, Outstanding (in shares) | 3,197,815 | 3,297,927 |
Common stock, $0.001 par value, 100,000,000 shares authorized: 3,197,815 and 3,297,927 issued and outstanding at September 30, 2023 and December 31, 2022, respectively | $ 3,198 | $ 3,298 |
Common stock payable | 0 | 23,340 |
Treasury stock | (15,291) | (1,102,375) |
Additional paid in capital | 26,676,475 | 18,070,556 |
Accumulated deficit | (18,817,043) | (14,820,436) |
Total stockholders' equity | 7,853,009 | 2,177,653 |
Total liabilities and stockholders' equity | 9,580,536 | 4,335,781 |
Undesignated Preferred Stock [Member] | ||
Long term liabilities: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively | 0 | 0 |
Series A Preferred Stock [Member] | ||
Long term liabilities: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively | 3,270 | 3,270 |
Series B Preferred Stock [Member] | ||
Long term liabilities: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively | 2,400 | 0 |
Related Party [Member] | ||
Long term liabilities: | ||
Note payable (Note 8) | 17,874 | 39,614 |
Machinery and Equipment [Member] | ||
Property and equipment: | ||
Office, computer and related equipment, net of depreciation of $136,707 and $104,410 at September 30, 2023 and December 31, 2022, respectively | $ 63,394 | $ 93,086 |
Balance Sheets (Current Perio_2
Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Accounts receivable, allowance for doubtful accounts | $ 68,589 | $ 68,589 |
Lease Right Of Use Asset Accumulated Amortization | $ 266,476 | $ 213,459 |
Preferred stock, par value (in dollars per share) | $ 0.001 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued (in shares) | 3,197,815 | 3,297,927 |
Common Stock, Shares, Outstanding (in shares) | 3,197,815 | 3,297,927 |
Common Stock, Shares, Issued (in shares) | 3,197,815 | 3,297,927 |
Undesignated Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued (in shares) | 3,269,998 | 3,269,998 |
Preferred stock, shares outstanding (in shares) | 3,269,998 | 3,269,998 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued (in shares) | 2,400,000 | 0 |
Preferred stock, shares outstanding (in shares) | 2,400,000 | 0 |
Machinery and Equipment [Member] | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 136,707 | $ 104,410 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue | $ 728,468 | $ 1,219,150 | $ 2,324,870 | $ 3,890,951 |
Cost of revenues | 327,928 | 492,991 | 1,202,534 | 1,572,380 |
Gross margin | 400,540 | 726,159 | 1,122,336 | 2,318,571 |
Operating expenses: | ||||
Software development costs | 173,665 | 302,273 | 755,959 | 832,143 |
Selling, general and administrative | 957,372 | 1,199,233 | 4,085,384 | 3,615,430 |
Advertising and marketing | 127,632 | 417,433 | 496,028 | 1,242,573 |
Depreciation and amortization | 11,100 | 5,521 | 32,297 | 16,646 |
Total operating expenses | 1,269,769 | 1,924,460 | 5,369,668 | 5,706,792 |
Operating loss | (869,229) | (1,198,301) | (4,247,332) | (3,388,221) |
Other (income) expense: | ||||
Interest expense | 210 | 28,025 | 522 | 86,220 |
Amortization of debt discount and issuance costs | 0 | 13,314 | 0 | 39,942 |
Other income | (188,760) | 0 | (188,760) | 0 |
Investment (income) loss | (8,934) | 68,802 | (62,487) | 352,601 |
Total other (income) expense | (197,484) | 110,141 | (250,725) | 478,763 |
Loss before income taxes | (671,745) | (1,308,442) | (3,996,607) | (3,866,984) |
Income Taxes | 0 | 0 | 0 | 0 |
Net loss | $ (671,745) | $ (1,308,442) | $ (3,996,607) | $ (3,866,984) |
Weighted average number of common shares outstanding - basic (in shares) | 3,196,230 | 3,296,415 | 3,222,361 | 3,296,098 |
Net loss per share - basic (in dollars per share) | $ (0.21) | $ (0.40) | $ (1.24) | $ (1.17) |
Subscription and Circulation [Member] | ||||
Revenue | $ 727,218 | $ 1,210,474 | $ 2,316,856 | $ 3,877,028 |
Product and Service, Other [Member] | ||||
Revenue | $ 1,250 | $ 8,676 | $ 8,014 | $ 13,923 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Preferred Stock [Member] Series A Preferred Stock [Member] | Preferred Stock [Member] Series B Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock Payable [Member] | Treasury Stock, Common and Preferred [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balances, December 31, 2021 (in shares) at Dec. 31, 2021 | 3,269,998 | 0 | 3,274,927 | ||||||
Balances, December 31, 2021 at Dec. 31, 2021 | $ 3,270 | $ 0 | $ 3,275 | $ 15,000 | $ 0 | $ 17,596,459 | $ (9,800,554) | $ 7,817,450 | |
Purchase of treasury stock | $ 0 | $ 0 | $ 0 | $ 0 | 0 | (1,065,216) | 0 | (1,065,216) | |
Cashless exercise of warrants (in shares) | 0 | 0 | 0 | 21,597 | |||||
Cashless exercise of warrants | $ 0 | $ 0 | $ 0 | $ 22 | 0 | 0 | (22) | 0 | 0 |
Issuance of warrants for compensation | 0 | 0 | 0 | 0 | 95,640 | 95,640 | |||
Issuance of options for compensation | 0 | 0 | 0 | 0 | 0 | 250,702 | 250,702 | ||
Common stock payable for compensation | $ 0 | $ 0 | 0 | 18,960 | 0 | 0 | 18,960 | ||
Common stock issued for common stock payable (in shares) | 1,512 | ||||||||
Common stock issued for common stock payable | $ 2 | (30,000) | 0 | 29,998 | 0 | 0 | |||
Net loss | $ 0 | 0 | (3,866,984) | (3,866,984) | |||||
Balances, March 31, 2022 (in shares) at Sep. 30, 2022 | 3,269,998 | 0 | 0 | 3,298,036 | |||||
Balances, March 31, 2022 at Sep. 30, 2022 | $ 3,270 | $ 0 | $ 0 | $ 3,299 | 3,960 | (1,065,216) | 17,972,777 | (13,667,538) | 3,250,552 |
Balances, December 31, 2021 (in shares) at Dec. 31, 2021 | 3,269,998 | 0 | 3,274,927 | ||||||
Balances, December 31, 2021 at Dec. 31, 2021 | $ 3,270 | $ 0 | $ 3,275 | 15,000 | 0 | 17,596,459 | (9,800,554) | 7,817,450 | |
Net loss | (5,019,882) | ||||||||
Balances, March 31, 2022 (in shares) at Dec. 31, 2022 | 3,269,998 | 0 | 0 | 3,297,927 | |||||
Balances, March 31, 2022 at Dec. 31, 2022 | $ 3,270 | $ 0 | $ 0 | $ 3,298 | 23,340 | (1,102,375) | 18,070,556 | (14,820,436) | 2,177,653 |
Purchase of treasury stock | 0 | 0 | 0 | 0 | (94,391) | 0 | (94,391) | ||
Issuance of warrants for compensation | 0 | 0 | 0 | 0 | 0 | 95,640 | 95,640 | ||
Issuance of options for compensation | 0 | 0 | 0 | 0 | 0 | 376,544 | 376,544 | ||
Net loss | 0 | 0 | $ 0 | 0 | 0 | 0 | (3,996,607) | ||
Issuance of stock for fractional shares resulting from reverse split | 0 | 0 | 0 | 0 | 0 | (9) | 0 | 0 | |
Issuance of stock for fractional shares resulting from reverse split (in shares) | 8,838 | ||||||||
Issuance of stock for fractional shares resulting from reverse split | $ 9 | ||||||||
Retirement of treasury stock | $ 0 | $ 0 | $ 0 | $ (454) | 0 | 1,181,475 | |||
Retirement of treasury stock (in shares) | 0 | (454,441) | |||||||
Treasury Stock, Retired ,Cost Method, Paid-in Capital, Amount | (1,181,021) | ||||||||
Issuance of stock for compensation (in shares) | 0 | 0 | 0 | 345,491 | |||||
Issuance of stock for compensation | $ 0 | $ 0 | $ 0 | $ 345 | (23,340) | 0 | 893,165 | 0 | 870,170 |
Issuance of stock for investment (in shares) | 0 | 2,400,000 | 0 | 0 | |||||
Issuance of stock for investment | $ 0 | $ 2,400 | $ 0 | $ 0 | 0 | 0 | 8,421,600 | 0 | 8,424,000 |
Balances, March 31, 2022 (in shares) at Sep. 30, 2023 | 3,269,998 | 2,400,000 | 0 | 3,197,815 | |||||
Balances, March 31, 2022 at Sep. 30, 2023 | $ 3,270 | $ 2,400 | $ 0 | $ 3,198 | $ 0 | $ (15,291) | $ 26,676,475 | $ (18,817,043) | $ 7,853,009 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Cash flows from operating activities: | |||||
Net loss | $ (671,745) | $ (1,308,442) | $ (3,996,607) | $ (3,866,984) | $ (5,019,882) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Depreciation and amortization expense | 32,297 | 16,646 | |||
Amortization of note discount and issuance costs | 0 | 39,942 | |||
Stock based compensation | 1,330,104 | 365,302 | |||
Investment (income) loss | (8,934) | 68,802 | (62,487) | 352,601 | |
Accounts receivable | (22,485) | (30,860) | |||
Inventory | 12,000 | (1,808) | |||
Prepaid expenses and other current assets | (148,373) | 142,574 | |||
Accounts payable and accrued expenses | 107,238 | 153,095 | |||
Unearned subscriptions | (451,049) | (663,731) | |||
Net cash used in operating activities | (3,199,362) | (3,493,223) | |||
Cash flows from investing activities: | |||||
Purchase of property and equipment | (2,605) | (63,473) | |||
Purchase of marketable securities | (6,418,134) | (22,573,384) | |||
Sale of marketable securities | 9,694,625 | 25,523,637 | |||
Net cash provided by investing activities | 3,273,886 | 2,886,780 | |||
Cash flows from financing activities: | |||||
Principal payments on senior secured note payable | 0 | (90,000) | |||
Principal payments on notes payable | (21,523) | (21,310) | |||
Purchase of treasury stock | (15,291) | (1,065,216) | |||
Net cash used in financing activities | (36,814) | (1,176,526) | |||
Net increase (decrease) in cash | 37,710 | (1,782,969) | |||
Cash - beginning of period | 425,578 | 2,426,497 | 2,426,497 | ||
Cash - end of period | $ 463,288 | $ 643,528 | 463,288 | 643,528 | $ 425,578 |
Supplemental disclosures: | |||||
Interest paid | 441 | 86,220 | |||
Income taxes paid | 0 | 0 | |||
Non-cash investing and financing activities: | |||||
Treasury stock purchased from related party with other assets | 79,100 | 0 | |||
Retirement of treasury stock | 1,181,475 | 0 | |||
Issuance of stock for investment | 8,424,000 | 0 | |||
Common stock issued in settlement of common stock payable | $ 0 | $ 30,000 |
Note 1 - Organization
Note 1 - Organization | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Organization Blackboxstocks Inc. (the “Company”) was incorporated on October 4, 2011 under the laws of the State of Nevada under the name SMSA Ballinger Acquisition Corp. to effect the reincorporation of Senior Management Services of Heritage Oaks at Ballinger, Inc., a Texas corporation, mandated by a Plan of Reorganization confirmed by the United States Bankruptcy Court for the Northern District of Texas for reorganization under Chapter 11 of the United States Bankruptcy Code. The Company changed its name to Blackboxstocks, Inc. and began operating as a financial technology and social media platform in March 2016. The platform offers real-time proprietary analytics and news for stock and options traders of all levels. The Company believes its 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. The software continuously scans the NASDAQ, New York Stock Exchange, CBOE, and other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. The Company also provides users with a fully interactive social media platform that is integrated into our dashboard, enabling users to exchange information and ideas quickly and efficiently through a common network. Recently, the Company also introduced a live audio/video feature that allows members to broadcast on their own channels to share trade strategies and market insight within the community. The platform was initially made available to subscribers in September 2016. Subscriptions for the use of the platform are sold on a monthly and/or annual subscription basis to individual consumers through the Company website at http://www.blackboxstocks.com. On November 10, 2021, the Company issued 2,400,000 shares of Common Stock in its initial public offering and concurrently was listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “BLBX”. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies The accompanying interim unaudited financial statements and footnotes of Blackboxstocks Inc. have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the results of the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2023. These financial statements should be read in conjunction with the audited financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The accompanying financial statements have been prepared in assumption of the continuation of the Company as a going concern, which is dependent upon the Company's ability to obtain sufficient financing or establish itself as a profitable business. For the nine months ended September 30, 2023, the Company incurred an operating loss of $4,247,332 and a net loss of $3,996,607. In addition, for the year ended December 31, 2022, the Company incurred an operating loss of $4,546,026 and a net loss of $5,019,882. Cash flows used in operations totaled $3,199,362 for the nine months ended September 30, 2023. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management has implemented a number of initiatives aimed at improving operating cash flow including, new product development, revised marketing strategies and expense reductions. In addition, the Company has historically been able to raise debt or equity financing to meet its capital needs and is also evaluating strategic alternatives with respect to possible mergers or acquisitions. There can be no assurance that the Company operational changes will impact its cash flow or if it will be able to raise additional capital or on what terms. The financial statements do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation. Use of Estimates. Cash. Investments in Marketable Securities. Recently Issued Accounting Pronouncements. Earnings or (Loss) Per Share. The Company had total potential additional dilutive securities outstanding at September 30, 2023, as follows. Series A Convertible Preferred Shares 3,269,998 Conversion rate 0.2 Common shares after conversion 654,000 Series B Convertible Preferred Shares 2,400,000 Option shares 211,875 Warrant shares 109,584 Revenue Recognition. Additionally, the Company receives revenues from commissions and the sale of promotional products which are presented as other revenues on the accompanying statements of operations. Commission revenues are recognized as they are earned and revenues from the sale of promotional products are recognized upon shipment. |
Note 3 - Investments and Market
Note 3 - Investments and Marketable Securities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investment [Text Block] | 3. Investments and Marketable Securities Marketable Securities The Company determines the fair values of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following three levels of inputs may be used to measure fair value: Level 1 inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access; Level 2 inputs utilize other-than-quoted prices that are observable, either directly or indirectly and include quoted prices for similar assets and liabilities in active markets, and inputs such as interest rates and yield curves that are observable at commonly quoted intervals; and Level 3 inputs are unobservable and are typically based on our own assumptions, including situations where there is little, if any, market activity. The Company’s marketable securities are highly liquid and are quoted on major exchanges and are therefore classified as Level 1 securities. The following table summarizes the Company’s assets that were measured and recognized at fair value as of September 30, 2023: Level 1 Level 2 Level 3 Total Balance at December 31, 2022 $ 3,216,280 $ - $ - $ 3,216,280 Purchases 6,418,134 - - 6,418,134 Sales (9,694,625 ) - - (9,694,625 ) Change in fair value 62,487 - - 62,487 Balance at September 30, 2023 $ 2,276 $ - $ - $ 2,276 Investments Evtec Group Limited (“Evtec”) operates through a single subsidiary, Evtec Automotive Limited, as a supplier of critical automotive parts to the automobile manufacturing industry. Evtec is based in the UK and provides complete assemblies to auto manufacturers, simplifying sourcing, saving time on procurement, and increasing production efficiency. Their pick and pack service supplies aftermarket automotive products, as well as offering kitting and fulfilment for non-automotive businesses. Their business focuses on premium luxury brands and a market transition to electric vehicles and includes Jaguar Land Rover Group as their largest customer. On June 9, 2023, the Company entered into a share exchange agreement with Evtec whereby the Company issued 2,400,000 shares of Series B Convertible Preferred Stock (the “Series B Stock”) (Note 4) in exchange for 4,086 preferred shares of Evtec. Upon conversion of the Series B Stock, the 2,400,000 shares would represent approximately 43% of the total common shares outstanding. The Evtec preferred shares are convertible into common shares of Evtec on a one-for-one The Company’s initial investment in Evtec was measured at $8,424,000 in accordance with ASC 820-10-30. The value of the Series B Stock issued by the Company was set by the closing price of its common stock on the day prior to closing of $3.51 as reported by Nasdaq. As a result, the 2,400,000 Series B Stock shares were valued at $8,424,000. |
Note 4 - Stockholders' Equity
Note 4 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 4. Stockholders Equity The Company has authorized 10,000,000 shares of preferred stock at $0.001 par value, 5,000,000 of which are designated as “Series A Convertible Preferred Stock” at $0.001 par value, 5,000,000 of which are designated as “Series B Convertible Preferred Stock” at $0.001 par value, and 100,000,000 authorized shares of common stock at $0.001 par value (“Common Stock”). Shares of Series A Convertible Preferred Stock (the “Series A Stock”) rank pari passu with the Company’s Common Stock with respect to dividend and liquidation rights. Additionally, each share entitles the holder to 100 votes on matters submitted to Company stockholders. There are 3,269,998 shares of Series A Stock outstanding which are all held by Gust Kepler, the Company’s Chairman and Chief Executive Officer (“Mr. Kepler”). The Company and Mr. Kepler entered into Conversion Rights Agreement dated effective as of October 14, 2021, limiting the rights of the holder(s) of our outstanding shares of Series A Stock to convert such shares into Common Stock on a one ● If the Company’s Market Capitalization is less than $150,000,000, the outstanding Series A Stock will be convertible into Common Stock on a 5-for-1 share basis; ● If the Company’s Market Capitalization is equal to or greater than $150,000,000 but less than $200,000,000, the outstanding Series A Stock will be convertible into Common Stock on a 3.3-for-1 share basis; ● If the Company’s Market Capitalization is equal to or greater than $200,000,000 but less than $250,000,000, the outstanding Series A Stock will be convertible into Common Stock on a 2.5-for-1 share basis; ● If the Company’s Market Capitalization is equal to or greater than $250,000,000 but less than $350,000,000 the outstanding Series A Stock will be convertible into Common Stock on a 1.75-for-1 share basis; ● If the Company’s Market Capitalization is equal to or greater than $350,000,000 the outstanding Series A Stock will thereafter convertible into Common Stock pursuant to the Designation Conversion Rights (on a 1-for-1 share basis). The Conversion Rights Agreement terminates when the last share of Series A Stock is either converted or the largest Market Capitalization Threshold is met. The Series B Stock has no dividend rights and no voting rights except as required by law or the Company’s bylaws. The Series B Stock is convertible into common shares on a one-for-one On August 11, 2022, the Company entered into a services agreement whereby a third-party service provider received 9,000 shares of common stock vesting monthly over 12 months. As of September 30, 2023, all of the shares have vested. In February of 2023, the Company retired 171,940 shares of Common Stock acquired pursuant to its stock repurchase plan. In March of 2023, the Company acquired 282,501 shares of its common stock from Mr. Kepler at a price of $0.28 per share and then retired these shares returning them to authorized but unissued shares (See Note 7). On April 10, 2023, the Company filed an Amendment to the Company’s Articles of Incorporation with the Nevada Secretary of State to effect a reverse stock split of the Company's outstanding common stock at a split ratio of one-for-four There was no change in the authorized shares or par value of our common stock or preferred stock in connection with the reverse split. As a result of the reverse stock split, every 4 shares of the Company’s Common Stock issued and outstanding immediately prior to the effective time was consolidated into one issued and outstanding share. In addition, proportionate adjustments were made to the exercise prices of the Company’s outstanding stock options and warrants and to the number of shares issued and issuable under the Company’s existing stock incentive plans. The impact of the reverse stock split has been retroactively applied to these financial statements. |
Note 5 - Warrants to Purchase C
Note 5 - Warrants to Purchase Common Stock | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 5. Warrants to Purchase Common Stock The following table presents the Company’s warrants as of September 30, 2023: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Warrants as of December 31, 2022 109,584 $ 13.24 4.53 Issued - $ - - Exercised - $ - - Warrants as of September 30, 2023 109,584 $ 13.25 3.78 At September 30, 2023, warrants for the purchase of 101,945 shares were vested and warrants for the purchase of 7,639 shares remained unvested. The Company expects to incur expenses for the unvested warrants totaling $116,896 as they vest. |
Note 6 - Incentive Stock Plan
Note 6 - Incentive Stock Plan | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 5. Warrants to Purchase Common Stock The following table presents the Company’s warrants as of September 30, 2023: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Warrants as of December 31, 2022 109,584 $ 13.24 4.53 Issued - $ - - Exercised - $ - - Warrants as of September 30, 2023 109,584 $ 13.25 3.78 At September 30, 2023, warrants for the purchase of 101,945 shares were vested and warrants for the purchase of 7,639 shares remained unvested. The Company expects to incur expenses for the unvested warrants totaling $116,896 as they vest. |
Share-Based Payment Arrangement, Option [Member] | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 6. Incentive Stock Plan On August 4, 2021, our Board of Directors created and our stockholders approved the 2021 Blackboxstocks, Inc. Incentive Stock Plan (the “2021 Plan”) which became effective August 31, 2021. Effective October 7, 2022, the Company’s Stockholders approved an amendment and restatement of the 2021 Plan to increase the numbers of issuable shares from 187,500 to 312,500. On February 6, 2023 the Company’s stockholders approved a subsequent amendment and restatement of the 2021 Plan to increase the number of shares available for issuance from 312,500 to 612,500 shares. The 2021 Plan allows the Company, under the direction of the Board of Directors or a committee thereof, to make grants of stock options, restricted and unrestricted stock and other stock-based awards to employees, including our executive officers, consultants and directors. During September 2022, 7,353 shares of restricted common stock were granted with 25% vesting quarterly over twelve months. As of September 30, 2023, all shares of the restricted common stock shares have vested. During the nine months ended September 30, 2023, 329,138 shares of restricted common stock were granted. The restricted shares, valued at $815,987, vested at issuance. The following table presents the Company’s options as of September 30, 2023: Options as of December 31, 2022 167,561 $ 11.68 8.78 Issued 75,000 $ 3.65 10.00 Forfeited (30,686 ) $ 9.90 8.78 Exercised - $ - - Options as of September 30, 2023 211,875 $ 9.09 8.59 At September 30, 2023, options to purchase 159,849 shares were vested and options to purchase 52,026 shares remained unvested. The Company expects to incur expenses for the unvested options totaling $270,802 as they vest. |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 7. Related Party Transactions On March 16, 2023, the Company purchased 282,501 shares of Common Stock from Mr. Kepler at a price of $0.28 per share. The purchase of these shares was done in order to reduce Mr. Kepler’s cash bonus for 2022. The shares acquired from Mr. Kepler were subsequently retired and added back to authorized but unissued shares. |
Note 8 - Debt
Note 8 - Debt | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8. Debt Note Payable On May 1, 2020, pursuant to the Paycheck Protection Program under the Coronavirus Aid Relief and Economic Security Act (“CARES Act”), the Company received a loan of $130,200. The loan carries an interest rate of 1% and an initial maturity of May 1, 2022. During August 2021, the Company received partial loan forgiveness from the SBA reducing the principal balance of the note to $96,795. During December 2021, the terms of the note were amended to carry an interest rate of 1% and mature on May 4, 2025. As of September 30, 2023, the unpaid balance of the note totaled $46,824. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. Commitments and Contingencies The Company leases approximately 2,685 square feet of office space in Dallas Texas pursuant to an office lease with Teachers Insurance and Annuity Association of America that expires on September 30, 2028. During the period ended September 30, 2023, the Company’s rental expenses totaled approximately $94,000. The table below shows the future lease payment obligations: Year Ending December 31, Amount 2023 $ 22,151 2024 89,948 2025 91,122 2026 93,136 2027 95,150 Thereafter 72,495 Total remaining lease payments $ 464,002 Less: imputed interest (181,376 ) Present Value of remaining lease payments $ 282,624 Current $ 66,079 Noncurrent $ 216,545 Weighted-average remaining lease term (years) 3.84 Weighted-average discount rate 10.00 % From time to time the Company is party to threatened or actual litigation occurring in the normal course of business but does not believe that the outcome of these matters could have a material effect on the Company’s financial statements. The Company has applied for a tax credit under the CARES Act known as an Employee Retention Credit or “ERC” and has recorded $188,760 as other income on the accompanying statement of operations for the ERC. All tax forms are subject to audit and if audited, the Company may have to return or portion or all of the ERC if the Internal Revenue Service denies some or all of the claims for the credit as the Company may not have met all of the criteria to be eligible for the credit. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash. |
Marketable Securities, Policy [Policy Text Block] | Investments in Marketable Securities. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements. |
Earnings Per Share, Policy [Policy Text Block] | Earnings or (Loss) Per Share. The Company had total potential additional dilutive securities outstanding at September 30, 2023, as follows. Series A Convertible Preferred Shares 3,269,998 Conversion rate 0.2 Common shares after conversion 654,000 Series B Convertible Preferred Shares 2,400,000 Option shares 211,875 Warrant shares 109,584 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition. Additionally, the Company receives revenues from commissions and the sale of promotional products which are presented as other revenues on the accompanying statements of operations. Commission revenues are recognized as they are earned and revenues from the sale of promotional products are recognized upon shipment. |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Series A Convertible Preferred Shares 3,269,998 Conversion rate 0.2 Common shares after conversion 654,000 Series B Convertible Preferred Shares 2,400,000 Option shares 211,875 Warrant shares 109,584 |
Note 3 - Investments and Mark_2
Note 3 - Investments and Marketable Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Level 1 Level 2 Level 3 Total Balance at December 31, 2022 $ 3,216,280 $ - $ - $ 3,216,280 Purchases 6,418,134 - - 6,418,134 Sales (9,694,625 ) - - (9,694,625 ) Change in fair value 62,487 - - 62,487 Balance at September 30, 2023 $ 2,276 $ - $ - $ 2,276 |
Note 5 - Warrants to Purchase_2
Note 5 - Warrants to Purchase Common Stock (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in years) Warrants as of December 31, 2022 109,584 $ 13.24 4.53 Issued - $ - - Exercised - $ - - Warrants as of September 30, 2023 109,584 $ 13.25 3.78 |
Note 6 - Incentive Stock Plan (
Note 6 - Incentive Stock Plan (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Options as of December 31, 2022 167,561 $ 11.68 8.78 Issued 75,000 $ 3.65 10.00 Forfeited (30,686 ) $ 9.90 8.78 Exercised - $ - - Options as of September 30, 2023 211,875 $ 9.09 8.59 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Year Ending December 31, Amount 2023 $ 22,151 2024 89,948 2025 91,122 2026 93,136 2027 95,150 Thereafter 72,495 Total remaining lease payments $ 464,002 Less: imputed interest (181,376 ) Present Value of remaining lease payments $ 282,624 Current $ 66,079 Noncurrent $ 216,545 Weighted-average remaining lease term (years) 3.84 Weighted-average discount rate 10.00 % |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | Nov. 10, 2021 shares |
Stock Issued During Period, Shares, New Issues | 2,400,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Operating Income (Loss) | $ 869,229 | $ 1,198,301 | $ 4,247,332 | $ 3,388,221 | $ 4,546,026 |
Net Income (Loss) Attributable to Parent | $ 671,745 | $ 1,308,442 | 3,996,607 | 3,866,984 | $ 5,019,882 |
Net Cash Provided by (Used in) Operating Activities, Total | $ (3,199,362) | $ (3,493,223) |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Potential Additional Dilutive Securities (Details) | 9 Months Ended |
Sep. 30, 2023 shares | |
Conversion rate | 0.2 |
Common shares after conversion (in shares) | 654,000 |
Warrant [Member] | |
Warrant shares (in shares) | 109,584 |
Share-Based Payment Arrangement, Nonemployee [Member] | |
Option shares (in shares) | 211,875 |
Series A Preferred Stock [Member] | |
Convertible Preferred Shares (in shares) | 3,269,998 |
Series B Preferred Stock [Member] | |
Convertible Preferred Shares (in shares) | 2,400,000 |
Note 3 - Investments and Mark_3
Note 3 - Investments and Marketable Securities (Details Textual) - USD ($) | Jun. 09, 2023 | Nov. 10, 2021 | Sep. 30, 2023 |
Stock Issued During Period, Shares, New Issues | 2,400,000 | ||
Share Price | $ 3.51 | ||
Series B Preferred Stock Converted into Common Stock [Member] | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | ||
Series B Preferred Stock Converted into Common Stock [Member] | Evtec [Member] | |||
Conversion of Stocks, Percentage of Total Common Stock Outstanding | 43% | ||
Conversion of Evtec Group Preferred Shares into Ordinary Shares [Member] | Evtec [Member] | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | ||
Evtec [Member] | |||
Investment Owned, Balance, Shares | 4,086 | ||
Investment Owned, Balance, Percentage of Total Outstanding Common Stock | 14% | ||
Investment Owned, Cost | $ 8,424,000 | ||
Investment Owned, Fair Value | $ 8,424,000 | ||
Preferred Stock Issued in Exchange for Preferred Shares From Other Company [Member] | Evtec [Member] | |||
Stock Issued During Period, Shares, New Issues | 2,400,000 |
Note 3 - Investments and Mark_4
Note 3 - Investments and Marketable Securities - Summary of Assets Measured at Fair Value By Measurement Input Level (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Balance at December 31, 2022 | $ 3,216,280 | |
Purchases | 6,418,134 | $ 22,573,384 |
Sales | (9,694,625) | $ (25,523,637) |
Change in fair value | 62,487 | |
Balance at June 30, 2023 | 2,276 | |
Fair Value, Inputs, Level 1 [Member] | ||
Balance at December 31, 2022 | 3,216,280 | |
Purchases | 6,418,134 | |
Sales | (9,694,625) | |
Change in fair value | 62,487 | |
Balance at June 30, 2023 | 2,276 | |
Fair Value, Inputs, Level 2 [Member] | ||
Balance at December 31, 2022 | 0 | |
Purchases | 0 | |
Sales | 0 | |
Change in fair value | 0 | |
Balance at June 30, 2023 | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Balance at December 31, 2022 | 0 | |
Purchases | 0 | |
Sales | 0 | |
Change in fair value | 0 | |
Balance at June 30, 2023 | $ 0 |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (Details Textual) | 1 Months Ended | 9 Months Ended | ||||
Apr. 10, 2023 | Mar. 31, 2023 $ / shares shares | Feb. 28, 2023 shares | Sep. 30, 2023 $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2021 USD ($) shares | |
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.001 | |||||
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 | ||||
Common stock, par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||
Reverse Stock Split [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 4 | |||||
Stock Repurchase Plan [Member] | ||||||
Treasury Stock, Shares, Retired | 171,940 | |||||
Treasury Stock, Shares, Acquired | 282,501 | |||||
Shares Acquired, Average Cost Per Share | $ / shares | $ 0.28 | |||||
One for Five Share Basis [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 5 | |||||
One for Three Point ThreeShare Basis [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 3.3 | |||||
One for Two Point Five Share Basis [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 2.5 | |||||
One For One Point Seven Five Share Basis [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1.75 | |||||
Series B Preferred Stock Converted into Common Stock [Member] | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||||
Conversion of Preferred Stock, Maximum Conversion Allowed, Percentage of Outstanding Common Stock | 19.90% | |||||
Total Preferred Stock [Member] | ||||||
Preferred stock, shares authorized (in shares) | 10,000,000 | |||||
Series A Preferred Stock [Member] | ||||||
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 | ||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||
Preferred Stock, Number of Votes Per Share | 100 | |||||
Preferred stock, shares outstanding (in shares) | 3,269,998 | 3,269,998 | ||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One for Five Share Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | $ 150,000,000 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One for Three Point ThreeShare Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | 200,000,000 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One for Two Point Five Share Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | 250,000,000 | |||||
Series A Preferred Stock [Member] | Maximum [Member] | One For One Point Seven Five Share Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | 350,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One for Three Point ThreeShare Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | 150,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One for Two Point Five Share Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | 200,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One For One Point Seven Five Share Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | 250,000,000 | |||||
Series A Preferred Stock [Member] | Minimum [Member] | One For One Share Basis [Member] | ||||||
Market Capitalization, Conversion Threshold, Value | $ | $ 350,000,000 | |||||
Series B Convertible Preferred Stock [Member] | ||||||
Preferred stock, shares authorized (in shares) | 5,000,000 | |||||
Series B Preferred Stock [Member] | ||||||
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | ||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||
Preferred stock, shares outstanding (in shares) | 2,400,000 | 0 |
Note 5 - Warrants to Purchase_3
Note 5 - Warrants to Purchase Common Stock (Details Textual) | Sep. 30, 2023 USD ($) shares |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Vested | 101,945 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Unvested | 7,639 |
Warrant, Nonvested, Cost Not yet Recognized, Amount | $ | $ 116,896 |
Note 5 - Warrants to Purchase_4
Note 5 - Warrants to Purchase Common Stock - Warrant Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Warrants, number of shares (in shares) | 109,584 | |
Warrants, average remaining life (Year) | 3 years 9 months 10 days | 4 years 6 months 10 days |
Issued, number of shares (in shares) | 0 | |
Exercised, number of shares (in shares) | 0 | |
Exercised, exercise price (in dollars per share) | $ 0 | |
Warrants, number of shares (in shares) | 109,584 | 109,584 |
Warrants, exercise price (in dollars per share) | $ 13.25 | |
Minimum [Member] | ||
Warrants, exercise price (in dollars per share) | 13.24 | |
Issued, exercise price (in dollars per share) | 0 | |
Exercised, exercise price (in dollars per share) | $ 0 | |
Warrants, exercise price (in dollars per share) | $ 13.24 |
Note 6 - Incentive Stock Plan_2
Note 6 - Incentive Stock Plan (Details Textual) - The 2021 Incentive Stock Plan [Member] - USD ($) | 1 Months Ended | |||||
Feb. 28, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Feb. 06, 2023 | Oct. 07, 2022 | Oct. 06, 2022 | |
Common Stock, Capital Shares Reserved for Future Issuance | 612,500 | 312,500 | 187,500 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 159,849 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares | 52,026 | |||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 270,802 | |||||
Restricted Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 329,138 | 7,353 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Value, Granted | $ 815,987 | |||||
Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 25% |
Note 6 - Incentive Stock Plan -
Note 6 - Incentive Stock Plan - Option Activity Under Stock Plan (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Options, weighted average remaining life (Year) | 8 years 7 months 2 days | |
Options, number (in shares) | 211,875 | |
Options, weighted average exercise price (in dollars per share) | $ 9.09 | |
The 2021 Incentive Stock Plan [Member] | ||
Options, number (in shares) | 167,561 | |
Options, weighted average exercise price (in dollars per share) | $ 11.68 | |
Options, weighted average remaining life (Year) | 8 years 9 months 10 days | |
Issued, number (in shares) | 75,000 | |
Issued, weighted average exercise price (in dollars per share) | $ 3.65 | |
Issued, weighted average remaining life (Year) | 10 years | |
Forfeited, number (in shares) | (30,686) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 9.90 | |
Forfeited, weighted average remaining life (Year) | 8 years 9 months 10 days | |
Exercised, number (in shares) | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Options, number (in shares) | 167,561 | |
Options, weighted average exercise price (in dollars per share) | $ 11.68 |
Note 7 - Related Party Transa_2
Note 7 - Related Party Transactions (Details Textual) - Chief Executive Officer [Member] | Mar. 16, 2023 $ / shares shares |
Treasury Stock, Shares, Acquired | shares | 282,501 |
Shares Acquired, Average Cost Per Share | $ / shares | $ 0.28 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - Paycheck Protection Program CARES Act [Member] - USD ($) | May 01, 2020 | Sep. 30, 2023 | Dec. 31, 2021 | Aug. 31, 2021 |
Proceeds from Issuance of Long-Term Debt | $ 130,200 | |||
Debt Instrument, Interest Rate, Stated Percentage | 1% | 1% | ||
Long-Term Debt | $ 96,795 | |||
Notes Payable, Noncurrent | $ 46,824 |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) | 9 Months Ended |
Sep. 30, 2023 USD ($) ft² | |
Operating Lease, Expense | $ 94,000 |
Employee Retention Credit [Member] | |
Effective Income Tax Rate Reconciliation, Tax Credit, Amount | $ 188,760 |
Expanded Office Space, 5430 LBJ Freeway Dallas Texas [Member] | |
Area of Real Estate Property | ft² | 2,685 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Future Lease Payment Obligations (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
2023 | $ 22,151 | ||
2024 | 89,948 | ||
2025 | 91,122 | ||
2026 | 93,136 | ||
2027 | 95,150 | ||
Thereafter | 72,495 | ||
Total remaining lease payments | 464,002 | ||
Less: imputed interest | (181,376) | ||
Present Value of remaining lease payments | 282,624 | ||
Lease liability right of use, current | 66,079 | $ 70,002 | |
Lease liability right of use, long term | $ 216,545 | $ 265,639 | |
Weighted-average remaining lease term (years) (Year) | 3 years 10 months 2 days | ||
Weighted-average discount rate | 10% |