\nBlackboxstocks Inc. (OTC PINK: BLBX) (\u201cBlackbox\u201d), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced the Company\u2019s financial results for its fiscal year ended December 31, 2020.\n<\/p>\n
\n2020 Financial and Operating Highlights:\n<\/p>\n
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- \nTotal revenue for the year ended December 31, 2020 was $3,367,563, compared to $1,062,573 for the 2019 year, an increase of $2,304,990 or 217%.\n<\/li>\n
- \nLoss from operations for 2020 was $412,698, or 12% of revenue, compared to a loss from operations of $1,005,033, or 95% of revenue, for 2019.\n<\/li>\n
- \nCompleted a $1.0 million debt financing with Feenix Venture Partners in November 2020\n<\/li>\n
- \nGenerated positive cash flow from operations of $143,580 in 2020 compared to negative cash flow from operations of $710,992 in 2019, a positive swing of $854,572.\n<\/li>\n
- \nCash position of $972,825 on December 31, 2020\n<\/li>\n<\/ul>\n
\nGust Kepler, CEO of Blackbox, commented, \u201c2020 was a pivotal year for Blackboxstocks as we obtained the capital necessary to conduct a sustained marketing initiative that drove an increase in our user base of 309% over 2019. The resulting revenue increase combined with our lean operating structure enabled us to refinance potentially toxic convertible debt on favorable terms and exponentially lower the cost of our debt financing. With a stronger base to support operations, we are looking forward to another banner year in 2021.\u201d\n<\/p>\n
\nThe table below presents summary financial data, see the Company\u2019s Form 10-K filed with the Securities and Exchange Commission on March 31, 2021 for additional information:\n<\/p>\n
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