Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On April 18, 2023, Blackboxstocks Inc. (the "Company") received a written
notification from the Listing Qualifications staff of The Nasdaq Stock Market
("Nasdaq") that the Company is not in compliance with the minimum stockholders'
equity requirement for continued listing on the Nasdaq Capital
Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain
stockholders' equity of at least $2,500,000 (the "Stockholders' Equity
Requirement"). The Company's Form 10-K for the fiscal year ended December 31,
2022 filed on April 14, 2023 reported that the Company's stockholders' equity as
of December 31, 2022 was $2,177,653. In addition, as of April 17, 2023, the
Company did not meet the alternative compliance standards relating to the market
value of listed securities or net income from continuing operations.
The Notification Letter has no immediate effect on the listing or trading of the
Company's common stock on the Nasdaq Capital Market and, at this time, the
common stock will continue to trade on the Nasdaq Capital Market under the
symbol "BLBX". Nasdaq has provided the Company with 45 calendar days, or until
June 2, 2023, to submit a plan to regain compliance with Nasdaq's listing
standards. If the Company submits a plan to regain compliance that is
accepted, Nasdaq may grant an extension of up to 180 calendar days from April
18, 2023 to regain compliance. If the Company does not submit a plan to regain
compliance or if such plan is not accepted, or if it is accepted and the Company
does not regain compliance in the timeframe required by Nasdaq, the Nasdaq staff
could provide notice that the Company's common stock is subject to delisting.
The Company is presently evaluating potential actions to regain compliance
and intends to timely submit a plan to Nasdaq to fully regain compliance with
the Stockholders' Equity Requirement.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
BLACKBOXSTOCKS INC. 
