Blackboxstocks(BLBX) - 2024 Q3 - Quarterly Report

Revenue and Subscribers - For the three months ended September 30, 2024, revenue was $646,792, a decline of 11% compared to $727,218 for the same period in 2023, attributed to fewer subscribers[81] - Average subscribers for the three months ended September 30, 2024, were 2,972, down from 3,174 in the prior year period[81] - For the nine months ended September 30, 2024, revenue was $1,981,974, a decline of 15% from $2,324,870 in the prior year[85] - Average subscribers for the nine months ended September 30, 2024, were 2,986, down from 3,564 in the prior year[85] Operating Expenses and Losses - Operating expenses for the three months ended September 30, 2024, decreased by 14% to $1,088,582 from $1,269,769 in the same period in 2023[83] - Operating expenses for the nine months ended September 30, 2024, decreased by 36% to $3,429,812 from $5,369,668 in the same period in 2023[87] - The company incurred an operating loss of $2,452,989 for the nine months ended September 30, 2024, compared to a loss of $4,247,332 for the prior year[88] Cash and Financing Activities - Cash and marketable securities totaled $60,921 as of September 30, 2024, down from $475,652 at December 31, 2023[76] - Net cash provided by financing activities was $1,366,274 for the nine months ended September 30, 2024, compared to net cash used of $36,814 in the prior year[78] Net Loss and EBITDA - Net loss for Q3 2024 was $780,833, compared to a net loss of $671,745 in Q3 2023, representing an increase in loss of approximately 16.2%[91] - Total adjustments for EBITDA in Q3 2024 amounted to $130,940, down from $158,719 in Q3 2023, indicating a decrease of about 17.5%[91] - EBITDA for Q3 2024 was $(649,893), worsening from $(513,026) in Q3 2023, reflecting a decline of approximately 26.6%[91] - Net loss for the nine months ended September 30, 2024, was $(2,522,487), an improvement from $(3,996,607) in the same period of 2023, showing a reduction in loss of about 37.0%[91] - Total adjustments for EBITDA in the nine months ended September 30, 2024, were $384,514, significantly lower than $1,300,436 in the same period of 2023, a decrease of approximately 70.5%[91] - EBITDA for the nine months ended September 30, 2024, was $(2,139,973), an improvement from $(2,696,171) in the same period of 2023, indicating a reduction in loss of about 20.7%[91] Interest and Compensation - Interest expense for Q3 2024 was $58, down from $210 in Q3 2023, a decrease of approximately 72.4%[91] - Stock-based compensation for the nine months ended September 30, 2024, was $301,069, significantly lower than $1,330,104 in the same period of 2023, a decrease of about 77.4%[91] Company Classification and Arrangements - As of September 30, 2024, the company did not have any material off-balance sheet arrangements[92] - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures[92] Future Expectations - The company expects to acquire Evtec Aluminium, which is anticipated to attract additional capital investment[73]