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Note 6 - Incentive Stock Plan
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

5. Warrants to Purchase Common Stock

 

The following table presents the Company’s warrants as of September 30, 2023:

 

   

Number of Shares

    

Weighted Average Exercise Price

    

Weighted Average Remaining Life (in

years)

  

Warrants as of December 31, 2022

     109,584     $ 13.24       4.53  

Issued

     -     $ -       -  

Exercised

     -     $ -       -  

Warrants as of September 30, 2023

     109,584     $ 13.25       3.78  

 

At September 30, 2023, warrants for the purchase of 101,945 shares were vested and warrants for the purchase of 7,639 shares remained unvested. The Company expects to incur expenses for the unvested warrants totaling $116,896 as they vest.
Share-Based Payment Arrangement, Option [Member]  
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

6. Incentive Stock Plan

 

On August 4, 2021, our Board of Directors created and our stockholders approved the 2021 Blackboxstocks, Inc. Incentive Stock Plan (the “2021 Plan”) which became effective August 31, 2021. Effective October 7, 2022, the Company’s Stockholders approved an amendment and restatement of the 2021 Plan to increase the numbers of issuable shares from 187,500 to 312,500. On February 6, 2023 the Company’s stockholders approved a subsequent amendment and restatement of the 2021 Plan to increase the number of shares available for issuance from 312,500 to 612,500 shares. The 2021 Plan allows the Company, under the direction of the Board of Directors or a committee thereof, to make grants of stock options, restricted and unrestricted stock and other stock-based awards to employees, including our executive officers, consultants and directors.

 

During September 2022, 7,353 shares of restricted common stock were granted with 25% vesting quarterly over twelve months. As of September 30, 2023, all shares of the restricted common stock shares have vested.

 

During the nine months ended September 30, 2023, 329,138 shares of restricted common stock were granted. The restricted shares, valued at $815,987, vested at issuance.

 

The following table presents the Company’s options as of September 30, 2023:

 

Options as of December 31, 2022

     167,561     $ 11.68       8.78  

Issued

     75,000     $ 3.65       10.00  

Forfeited

     (30,686 )   $ 9.90       8.78  

Exercised

     -     $ -       -  

Options as of September 30, 2023

     211,875     $ 9.09       8.59  

 

At September 30, 2023, options to purchase 159,849 shares were vested and options to purchase 52,026 shares remained unvested. The Company expects to incur expenses for the unvested options totaling $270,802 as they vest.