DALLAS--(BUSINESS WIRE)--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. market.
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.
For more information visit our website at: www.blackboxstocks.com
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