Blackboxstocks Inc. Faces Potential Delisting From Nasdaq

Blackboxstocks Inc. (NASDAQ:BLBX) recently disclosed its non-compliance with Nasdaq Listing Rule 5620(a), regarding the failure to hold the 2024 annual meeting of stockholders before December 31, 2024. This non-compliance, as reported on January 7, 2025, could lead to potential delisting from Nasdaq due to the annual meeting requirement breach.

In response, Blackboxstocks Inc. received a notice from Nasdaq on January 13, 2025, setting a deadline of February 27, 2025, for submitting a plan to regain compliance. Nasdaq can allow an exception of up to 180 days post-fiscal year-end (June 30, 2025) for compliance if the submitted plan is accepted. Blackboxstocks has scheduled its 2024 annual meeting for February 7, 2025, in an effort to remedy the situation and intends to meet the deadline for plan submission to Nasdaq.

Furthermore, Blackboxstocks Inc. reported non-compliance with Nasdaq Listing Rule 5605(b)(1) and Nasdaq Listing Rule 5605(c)(2)(A) on January 7, 2025, following the passing of Ray Balestri. These rules require a majority of the board of directors to be Independent Directors and the Audit Committee to consist of at least three independent directors, respectively. In response, Nasdaq granted Blackboxstocks a cure period to regain compliance until the earlier of the next annual meeting or January 4, 2026, with a deadline of July 3, 2025, if the annual meeting is held prior to that date.

Blackboxstocks Inc. is currently evaluating various strategies to comply with Nasdaq Listing Rules 5605(b)(1) and 5605(c)(2)(A) within the provided cure period to maintain its listing on the Nasdaq Capital Market.

It is essential to note that Blackboxstocks Inc. remains committed to meeting Nasdaq’s requirements and ensuring continued listing on the stock exchange.

This press release contains forward-looking statements that are based on current expectations and assumptions which are subject to risks and uncertainties. Actual results may differ materially from these expectations.

Please refer to the appropriate filings with the U.S. Securities and Exchange Commission for further information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blackboxstocks’s 8K filing here.

About Blackboxstocks

Blackboxstocks Inc develops and markets financial technology and social media hybrid platform. The company offers Blackbox System, a subscription-based software as a service that provides real-time proprietary analytics and news for stock and options traders. Blackboxstocks Inc is headquartered in Dallas, Texas.