Blackboxstocks Announces $5.0 Million Licensing Agreement with EIGH8T Technologies
Agreement Provides Exclusive Marketing Rights to Chinese Stock Exchanges
DALLAS, Sep. 06 /BusinessWire/ --
Blackboxstocks Inc. (OTC PINK: BLBX) ("Blackbox"), a developer of
real-time, web and mobile based analytical software tools for day
traders and swing traders, announced today that the Company has signed a
two year, $5.0 million licensing agreement with EIGH8T Technologies Inc.
(EIGH8T). The agreement provides EIGH8T with exclusive marketing rights
to the Blackbox analytics software for the Shanghai Stock Exchange and
the Shenzhen Stock Exchange.
EIGH8T is a marketing concern based in The British Virgin Islands, with
primary business operations located in mainland China. The terms of the
agreement provide that EIGH8T pay Blackbox $1.4 million in royalties for
the first 12-month period beginning on June 1, 2017 through May 31,
2018, and an additional $3.6 million for the second 12-month period
beginning June 1, 2018 through May 31, 2019. EIGH8T prepaid an initial
advance in the amount of $250,000 to the Company on May 10, 2017. The
payment schedule starts at $100,000 per month and increases based on a
predetermined schedule which is detailed in Blackbox's 10Q filed with
the SEC on August 14, 2017.
"This is an important agreement for Blackbox as it provides consistent
monthly revenue for our company and demonstrates the value of our
predictive analytics software on an international level," commented Gust
Kepler, CEO of Blackbox. "We are also excited to have EIGH8T
Technologies as a strategic partner to introduce our product into
mainland China. China has the largest number of active traders in the
world, which numbered over 200 million in 2015."
Blackbox initiated a soft-launch of its domestic trading tool for the
U.S. stock exchanges to a limited number of users on a paid subscription
basis of $79.97 per month, or $767 annually, in September 2016. The
Company has been in the process of developing a comprehensive chat and
social media feature that is imbedded directly in the platform allowing
users to interact in a dynamic fashion with the live analytics modules,
charts, and quotation systems. The first version of the enhanced chat
platform was released in July 2017. Beta testing for this feature is now
complete and the Company now intends to ramp up marketing for the U.S.
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 is 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.
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.