On September 11, 2021, the Board of Directors (the “Board”) of Blackboxstocks Inc. (the “Company”) increased the size of the Board to five (5) directors. To fill the vacancies caused by the increase in the number of directors, the Board appointed Robert Winspear, Andrew Malloy, Ray Balestri and Dalya Sulaiman to serve on the Board as directors of the Company until the next annual meeting of stockholders and his or her successor is duly elected and qualified or until his or her death, resignation or removal. The Board has affirmatively determined that Ms. Sulaiman and Messrs. Malloy and Balestri are independent directors pursuant to Nasdaq’s governance listing standards. The Board also appointed Mr. Malloy to serve on and as Chairperson of the Company’s Audit Committee and to serve on the Nominating and Compensation Committees. Further, the Board determined that Mr. Malloy meets the qualifications of an audit committee financial expert as that term is defined under Item 407(d)(5)(ii) of Regulation S-K. Mr. Balestri was appointed to serve on and as Chairperson of both the Company’s Compensation and Nominating Committees and to serve as a member of the Company’s Audit Committee. Ms. Sulaiman was also appointed to serve on each of the Company’s Audit, Nominating and Compensation Committees. Gust Kepler submitted written notice to the Company of his resignation as Secretary effective September 11, 2021. The Board subsequently resolved to appoint Robert Winspear to serve as Secretary and Chief Financial Officer of the Company, effective as of September 11, 2021, to serve as such until the election and qualification of his successor or until his earlier death, resignation or removal. Prior to joining the Company as a Director, Secretary and Chief Financial Officer, Robert Winspear, age 56, was working as and remains the President of Winspear Investments LLC, a Dallas based private investment firm specializing in lower middle market transactions, since 2002. The Board also appointed Eric Pharis to serve as Chief Operating Officer of the Company, effective as of September 11, 2021, to serve as such until the election and qualification of his successor or until his earlier death, resignation or removal. Mr. Pharis, age 46, is a founder and stockholder of the Company. Mr. Pharis has been working in quantitative finance for over 20 years. Prior to founding the Company with Mr. Kepler, Mr. Pharis worked in the proprietary trading operations of Daytek Securities, a pioneer in the area of electronic and algorithm trading, and also founded high frequency trading firm Blackbox Karma in 2005 as well as quantBrasil, a fully quantitative, computer driven hedge fund in Brazil launched in 2012 and EDM Operators, a commodities trading company using automated software based on news events launched in 2014. Mr. Pharis directs the development of the Company’s proprietary algorithms as well as data analysis.
Blackboxstocks Inc. is a Software as a Service (SaaS) company. The Company provides a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Its Web-based software employs predictive technology enhanced by artificial intelligence (AI) to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. It scans the NASDAQ, New York Stock Exchange, Chicago Board Options Exchange (CBOE), and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. It provides its users with an interactive social media platform that is integrated into its dashboard, enabling its users to exchange information and ideas through a common network. Its live audio/video feature allows its members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community.
BLACKBOXSTOCKS INC. 
