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SIGNIFICANT ACCOUNTING POLICIES (POLICIES)
3 Months Ended
Mar. 31, 2016
SIGNIFICANT ACCOUNTING POLICIES (POLICIES):  
Basis of Presentation

Basis of Presentation - The accompanying financial statements were prepared in conformity with GAAP.

Use of Estimates

Use of Estimates - Blackboxstocks' financial statement preparation requires that management make estimates and assumptions which affect the reporting of assets and liabilities and the related disclosure of contingent assets and liabilities in order to report these financial statements in conformity with GAAP.  Actual results could differ from those estimates.

Property and Equipment

Property and Equipment - Blackboxstocks is engaged in the development of its proprietary Blackbox System technology, an algorithm driven system, through a combination of in house system analysts and outside firms.  The Company's Blackbox System software is still in development and will be expensed until the software reaches technological feasibility.

 

The Company's property and equipment acquired during 2015 was placed in service effective January 1, 2016 and  depreciated on the straight line basis over an estimated useful life of three years beginning in 2016.

Earnings or (Loss) Per Share

Earnings or (Loss) Per Share - Basic earnings per share (or loss per share), is computed by dividing the earnings (loss) for the period by the weighted average number of common stock shares outstanding for the period.  Diluted earnings per share reflects the potential dilution of securities by including other potential common stock,  including stock options and warrants, in the weighted average number of common shares outstanding for the period.  Therefore because including options and warrants issued would have an anti-dilutive effect on the loss per  share, only the basic earnings (loss) per share is reported in the accompanying financial statements.  At March 31, 2016 the potential dilution would be 5,000,000 common shares in the event the issued and outstanding shares of Series A Convertible Preferred Stock are converted.  The Company had no potential dilution as of March 31, 2015.

Revenue Recognition

 

Revenue Recognition - The Company recognizes revenue from the sale of its subscriptions, when persuasive evidence of an arrangement exists, delivery and collectability is probable. Revenue generally is recognized net of allowances for returns and any taxes collected from customers and subsequently remitted to governmental authorities.  As of March 31, 2016 the Company continues to develop its software and has generated no revenues.