# EDGAR Filing Document

**Accession Number:** 0001567900
**File Stem:** 0001437749-23-002914
**Filing Date:** 2023-2
**Character Count:** 32832
**Document Hash:** 8aefd8a0e7de20ab84a770e478188f32
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-002914.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001437749-23-002914

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKBOXSTOCKS INC.
- **CENTRAL INDEX KEY:** 0001567900
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **IRS NUMBER:** 453598066
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269680
- **FILM NUMBER:** 23609575

**BUSINESS ADDRESS:**
- **STREET 1:** 5430 LBJ FREEWAY
- **STREET 2:** SUITE 1485
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75240
- **BUSINESS PHONE:** 972-726-9203

**MAIL ADDRESS:**
- **STREET 1:** 5430 LBJ FREEWAY
- **STREET 2:** SUITE 1485
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75240

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMSA BALLINGER ACQUISITION CORP
- **DATE OF NAME CHANGE:** 20130125

**As filed with the Securities and Exchange Commission on February 9, 2023.**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER**

**THE SECURITIES ACT OF 1933**

**BLACKBOXSTOCKS INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** |  | **45-3598066** |
| (State or other jurisdiction of<br> incorporation or organization) |  | (I.R.S. Employer<br> Identification Number) |
|  | **5430 LBJ Freeway, Suite 1485**<br> **Dallas, Texas 75240**<br> **(972) 726-9203** |  |
| (Address of Principal Executive Offices) (Zip Code) | (Address of Principal Executive Offices) (Zip Code) | (Address of Principal Executive Offices) (Zip Code) |

---

------

**2021 Stock Incentive Plan**

(Full title of the plan)

------

**Gust Kepler**

**President and Chief Executive Officer**

**5430 LBJ Freeway, Suite 1485**

**Dallas, Texas 75240**

**(972) 726-9203**

(Name and address of agent for service)

***Copy to:***

**Jeffrey M. McPhaul, Esq.**

**Winstead PC**

**2728 N. Harwood Street, Suite 500**

**Dallas, Texas 75201**<br> **(214) 745-5400**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act. ☐

------

**EXPLANATORY NOTE** 

Blackboxstocks, Inc. (the "Company") has filed this Registration Statement to register under the Securities Act of 1933, as amended (the "Securities Act"), the offer and sale of up to 2,443,952 shares of common stock of the Company, par value $0.001 per share (the "Common Stock"). On December 27, 2022, our Board of Directors and our stockholders approved the adoption of the 2021 Stock Incentive Plan as amended and restated effective February 6, 2023 (the "2021 Plan").

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

**Item 1. Plan Information.** 

The document(s) containing the information required by Part I of Form S-8 will be sent or given to employees as specified by Rule 428(b)(1) under the Securities Act. Such documents need not be filed with the Securities and Exchange Commission (the "Commission"), either as part of the Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the requirement of Section 10(a) of the Securities Act.

**Item 2. Registrant Information and Employee Plan Annual Information.** 

The Company will furnish without charge to each person to whom the prospectus is delivered, upon the written or oral request of such person, a copy of any and all of the documents incorporated by reference in Item 3 of Part II of this Registration Statement. Those documents are incorporated by reference in the Section 10(a) prospectus. Requests should be directed to Blackboxstocks, Inc., 5430 LBJ Freeway, Suite 1485, Dallas, Texas 75240, Attention: Secretary, telephone number (972) 726-9203.

------

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The Company incorporates by reference in this Registration Statement:

● The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Commission on March 31, 2022;

● Amendment No. 1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Commission on May 19, 2022;

● The Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2021, each respectively filed with the Commission on May 16, 2022, August 15, 2022 and November 14, 2022;

● The Company's Current Reports on Form 8-K filed with the Commission on January 10, 2022, April 19, 2022, July 28, 2022, October 12, 2022, October 14, 2022, October 27, 2022, January 5, 2023 and January 31, 2023; and

● The Company's description of Common Stock contained in the Company's registration statement on Form 8-A filed with the Commission on November 9, 2021.

All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the 1934 Act, subsequent to the date of this Registration Statement shall be deemed to be incorporated herein by reference and to be a part hereof from the date of filing of such documents until such time as there shall have been filed a post-effective amendment that indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold at the time of such amendment.

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

**Item 6. Indemnification of Directors and Officers.** 

*Nevada Law*

Section 78.7502 of the Nevada Revised Statutes permits a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee, or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee, or agent of another corporation, partnership joint venture, trust, or other enterprise, against expenses, including attorneys' fees, judgments, fines, and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding if he: (a) is not liable pursuant to Nevada Revised Statute 78.138, or (b) acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.

------

In addition, Section 78.7502 of the Nevada Revised Statutes permits a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee, or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise against expenses, including amounts paid in settlement and attorneys' fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit if he: (a) is not liable pursuant to Nevada Revised Statute 78.138; or (b) acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation.

To the extent that a director, officer, employee, or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit, or proceeding referred to above, or in defense of any claim, issue, or matter, the corporation is required to indemnify him against expenses, including attorneys' fees, actually and reasonably incurred by him in connection with the defense.

Section 78.751 of the Nevada Revised Statutes provides that such indemnification may also include payment by the Company of expenses incurred in defending a civil or criminal action or proceeding in advance of the final disposition of such action or proceeding upon receipt of an undertaking by the person indemnified to repay such payment if he shall be ultimately found not to be entitled to indemnification under Section 78.751 of the Nevada Revised Statutes. Indemnification may be provided even though the person to be indemnified is no longer a director, officer, employee, or agent of the Company or such other entities.

Section 78.752 of the Nevada Revised Statutes allows a corporation to purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a director, officer, employee, or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise for any liability asserted against him and liability and expenses incurred by him in his capacity as a director, officer, employee, or agent, or arising out of his status as such, whether or not the corporation has the authority to indemnify him against such liability and expenses.

Other financial arrangements made by the Company pursuant to Section 78.752 of the Nevada Revised Statutes may include the following:

(a) the creation of a trust fund;

(b) the establishment of a program of self-insurance;

(c) the securing of its obligations of indemnification by granting a security interest or other lien on any assets of the corporation; and

(d) the establishment of a letter of credit, guaranty or surety.

No financial arrangement made pursuant to Section 78.752 may provide protection for a person adjudged by a court of competent jurisdiction, after exhaustion of all appeals, to be liable for intentional misconduct, fraud or a knowing violation of law, except with respect to the advancement of expenses of indemnification ordered by a court.

------

Any discretionary indemnification pursuant to Section 78.7502 of the Nevada Revised Statutes, unless ordered by a court or advanced pursuant to an undertaking to repay the amount if it is determined by a court that the indemnified party is not entitled to be indemnified by the corporation, may be made by the corporation only as authorized in the specific case upon a determination that indemnification of the director, officer, employee, or agent is proper in the circumstances. The determination must be made:

(a) by the stockholders;

(b) by the board of directors by a majority vote of a quorum consisting of directors who were not parties to the action, suit, or proceeding;

(c) if a majority vote of a quorum consisting of directors who were not parties to the action, suit, or proceeding so orders, by independent legal counsel in a written opinion, or

(d) if a quorum consisting of directors who were not parties to the action, suit, or proceeding cannot be obtained, by independent legal counsel in a written opinion.

Subsection 7 of Section 78.138 of the Nevada Revised Statutes provides that, subject to certain very limited statutory exceptions, a director or officer is not individually liable to the corporation or its stockholders or creditors for any damages as a result of any act or failure to act in his or her capacity as a director or officer, unless it is proven that the act or failure to act constituted a breach of his or her fiduciary duties as a director or officer and such breach of those duties involved intentional misconduct, fraud or a knowing violation of law. The statutory standard of liability established by Section 78.138 controls even if there is a provision in the corporation's articles of incorporation unless a provision in the corporation's articles of incorporation provides for greater individual liability.

*Charter Provisions and Other Arrangements*

Pursuant to the provisions of Nevada Revised Statutes, we have adopted indemnification provisions in our Articles of Incorporation, as amended, with respect to our officers and directors which state that, among other things, each person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was a director or officer of the Corporation, or who is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, shall be indemnified against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with the action, suit or proceeding, to the full extent permitted by the Nevada Revised Statutes as such statutes may be amended from time to time.

We also purchase directors and officer's liability insurance in order to limit our exposure to liability of indemnification of directors and officers.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

------

**Item 8. Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Exhibits</u>.

---

| | |
|:---|:---|
| Exhibit |  |
| Number | Description |
| 4.1 | [<u>Articles of Incorporation of SMSA Ballinger Acquisition Corp. (incorporated by reference to Exhibit 3.4 of the Company's Registration Statement on Form 10-12G filed with the Commission on August 5, 2014).</u>\*](http://www.sec.gov/Archives/edgar/data/1567900/000101054914000385/ex34.htm) |
| 4.2 | [<u>Certificate of Designation of Series A Preferred Stock dated December 1, 2015 (incorporated by reference to Exhibit 3.1 of the Company'</u><u>s Information Statement on Form 8-K filed with the Commission on December 7, 2015).</u>\*](http://www.sec.gov/Archives/edgar/data/1567900/000101054915000375/ex31.htm) |
| 4.3 | [<u>Certificate of Amendment to Articles of Incorporation dated effective March 9, 2016. (incorporated by reference to Exhibit 3.9 of the Company'</u><u>s Annual Report on Form 10-K filed with the Commission on April 14, 2016).</u> \*](http://www.sec.gov/Archives/edgar/data/1567900/000101054916000569/ex39.htm) |
| 4.4 | [<u>Certificate of Amendment to Articles of Incorporation dated effective as of July 15, 2019 (incorporated by reference to Exhibit 3.1 of the Company'</u><u>s Current Report on Form 8-K filed with the Commission on July 15, 2019)</u> \*](http://www.sec.gov/Archives/edgar/data/1567900/000101054919000171/exh31.htm) |
| 4.5 | [<u>Amended and Restated Bylaws of Blackboxstocks, Inc. adopted and effective on April 18, 2022.\*</u>](http://www.sec.gov/Archives/edgar/data/1567900/000143774922009141/ex_356671.htm) |
| 4.6 | [<u>Blackboxstocks, Inc. 2021 Stock Incentive Plan (amended and restated effective as of February 6, 2023) (incorporated by reference to Appendix A to the Company</u><u>'</u><u>s Information Statement on Schedule 14C filed on December 29, 2022)</u>\*](http://www.sec.gov/Archives/edgar/data/1567900/000143774922029849/blkbx20221227_def14c.htm) |
| 5.1 | [Opinion of Winstead PC\*\*](ex_473232.htm) |
| 23.1 | [Consent of Turner, Stone & Company, L.L.P\*\*](ex_473233.htm) |
| 23.2 | [Consent of Winstead PC (included in Exhibit 5.1)\*\*](ex_473232.htm) |
| 24.1 | [Power of Attorney (included on the signature page to this Registration Statement)\*\*](#sig) |
| 107 | [Filing Fee Table\*\*](ex_472615.htm) |

---

\* Previously filed

\*\* Filed Herewith

**Item 9. Undertakings.** 

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the 1933 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in the Registration Statement;

------

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Company pursuant to Section 13 or Section 15(d) of the 1934 Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the 1933 Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining liability under the Securities Act, each filing of the Company's annual report pursuant to section 13(a) or section 15(d) of the 1934 Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer, or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Dallas, State of Texas, on February 9, 2023.

---

| | |
|:---|:---|
| **BLACKBOXSTOCKS INC.** | **BLACKBOXSTOCKS INC.** |
| By: | /s/ Gust Kepler |
|  | Gust Kepler, President and Chief<br> Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Gust Kepler and Robert Winspear, and each of them, as his or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to act on, sign any and all amendments to this Registration Statement (including post-effective amendments), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact, proxy, and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact, proxy and agent, or his substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities set forth opposite their names and on February 9, 2023.

---

| | |
|:---|:---|
| **Name** | **Title** |
| /s/ Gust Kepler | Chief Executive Officer and Director |
| Gust Kepler | (Principal Executive Officer) |
| /s/ Robert Winspear | Chief Financial Officer |
| Robert Winspear | (Principal Accounting and Financial Officer) |
| /s/ Keller Reid | Director |
| Keller Reid |  |
| /s/ Ray Balestri | Director |
| Ray Balestri |  |
| /s/ Dalya Sulaiman | Director |
| Dalya Sulaiman |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![winslogo.jpg](winslogo.jpg)

Austin \| Charlotte \| Dall as \| Fort Worth \| Houston \| New York \| San Antonio \| The Woodlands

------

2728 N. Harwood Street<br> Suite 500 Dallas, TX 75201 214.745.5000 *office*<br> 214.745.5390 *fax* <br> winstead.com

February 9, 2023

Blackboxstocks, Inc.

5430 LBJ Freeway, Suite 1485

Dallas, Texas 75240

Ladies and Gentlemen:

We have acted as counsel to Blackboxstocks, Inc., a Nevada corporation (the "<u>Company</u>"), in connection with the filing with the Securities and Exchange Commission (the "<u>SEC</u>") of a registration statement on Form S-8 (the "<u>Registration Statement</u>") under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), relating to the registration of up to 2,450,000 shares (the "<u>Shares</u>") of the Company's common stock, par value $0.001 per share ("<u>Common Stock</u>"), to be issued by the Company pursuant to Blackboxstocks, Inc. 2021 Stock Incentive Plan, as amended (the "<u>Plan</u>").

In connection with this opinion, we have examined originals or copies, certified or otherwise identified to our satisfaction, of (i) the Registration Statement, (ii) the Plan, (iii) the Articles of Incorporation (the "<u>Articles of Incorporation</u>") of the Company, as currently in effect; (iv) the Amended and Restated Bylaws (the "<u>Bylaws</u>") of the Company, as currently in effect, and (v) such other records, certificates and documents as we have deemed appropriate or necessary for the purposes of this opinion. We have also examined originals or copies of such corporate records of the Company and have made such examinations of law and other investigations as we have deemed relevant.

In our examination, we have assumed and have not verified (i) the legal capacity of all natural persons; (ii) the genuineness of all signatures; (iii) the authenticity of all documents, certificates and instruments submitted to us as originals; (iv) the conformity with the originals of all documents supplied to us as copies; (v) the accuracy and completeness of all corporate records and documents made available to us by the Company; and (vi) that the foregoing documents, in the form submitted to us for our review, have not been altered or amended in any respect material to our opinions stated herein. We have relied as to factual matters upon certificates from officers of the Company and certificates and other documents from public officials and government agencies and departments and we have assumed the accuracy and authenticity of such certificates and documents. We have also assumed that, at or prior to the time of the issuance and delivery of any Shares, that there will not have occurred any change in law, change in the Company's Articles of Incorporation, or further action by the Company's board of directors, in each case affecting the validity of the issuance of the Shares.

With respect to our opinions as to the Shares, we have also assumed that (i) the Registration Statement, and any amendments thereto (including post-effective amendments), will have become effective and will comply with all applicable laws; (ii) all Shares will be issued and sold in compliance with applicable federal and state securities laws and in the manner stated in the Registration Statement and the Plan; and (iii) with respect to Shares offered, there will be sufficient shares of Common Stock authorized under the Company's Articles of Incorporation and not otherwise reserved for issuance.

Based on the foregoing and subject to the limitations, qualifications and assumptions set forth herein, we are of the opinion that the Shares have been duly authorized and, when issued in accordance with the terms of and for legal consideration in excess of par value in the circumstances contemplated by the Plan (and the agreements and awards duly adopted thereunder and in accordance therewith), assuming, in each case, that the individual issuances, grants or awards under the Plan are duly authorized by all necessary corporate action of the Company, will be validly issued, fully paid and non-assessable.

Our opinions herein are expressed solely as to the federal laws of the United States and Chapter 78 of the Nevada Revised Statutes. We express no opinion as to the laws of any other jurisdiction. The opinion expressed herein is given as of this date, and we do not undertake to supplement this opinion with respect to any events or changes occurring subsequent to the date of this letter. The opinion expressed in this letter is provided as a legal opinion only and not as any guarantee or warranty of the matters discussed herein, and such opinion is strictly limited to the matters stated herein, and no other opinion may be implied therefrom.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are "experts" within the meaning of Section 11 of the Securities Act or within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the SEC promulgated thereunder.

---

| |
|:---|
| Very truly yours, |
| **WINSTEAD PC** |
| */s/ Winstead, PC* |

---

## Exhibit 23.1

**Exhibit 23.1**

![turnerlogo.jpg](turnerlogo.jpg)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference of our report dated March 31, 2022, in the Registration Statement (No. 333-) on Form S-8 of Blackboxstocks Inc.

/s/ Turner, Stone & Company, L.L.P.

Dallas, Texas

February 9, 2023

---

| | |
|:---|:---|
| Turner, Stone & Company, L.L.P.<br> Accountants and Consultants<br>12700 Park Central Drive, Suite 1400<br> Dallas, Texas 75251<br> Telephone: 972-239-1660 ⁄ Facsimile: 972-239-1665<br> Toll Free: 877-853-4195<br> Web site: turnerstone.com | ![inaalogo.jpg](inaalogo.jpg) |

---

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-8**

(Form Type)

**Blackboxstocks, Inc.**

(Exact name of Registrant as Specified in its Charter)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security** <br> **Type** | **Security**<br> **Class Title** | **Fee** <br> **Calculation**<br> **Rule** | **Amount** <br> **Registered(1)** | **Proposed**<br> **Maximum** <br> **Offering** <br> **Price Per**<br> **Share(2)** | **Maximum** <br> **Aggregate**<br> **Offering**<br> **Price(2)** | **Fee Rate** | **Amount**<br> **of** <br> **Registration**<br> **Fee** |
| Fees to be<br> Paid | Equity | Common Stock, $0.001 par value per share | Other(2) | 482,500 shares(3) | $2.99 | $1442675 | 0.0001102 | $158.98 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 15,000 shares(3) | $4.96 | $74400 | 0.0001102 | $8.20 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 50,000 shares(3) | $3.42 | $171000 | 0.0001102 | $18.84 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 15,000 shares(3) | $3.19 | $47850 | 0.0001102 | $5.27 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 25,000 shares (3) | $1.71 | $42750 | 0.0001102 | $4.71 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 22,000 shares (3) | $1.54 | $33880 | 0.0001102 | $3.73 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 5,000 shares(3) | $1.05 | $5250 | 0.0001102 | $0.58 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 11,667 shares(3) | $1.02 | $11900 | 0.0001102 | $1.31 |
|  | Equity | Common Stock, $0.001 par value per share | Other(2) | 1,817,785 shares(4) | $.65 | $1181560 | 0.0001102 | $130.21 |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | -- | $3011265 | -- | $331.84 |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | -- | -- | -- | -- |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | -- | -- | **--** | **--** |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **--** | **--** | **--** | $331.84 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the " <u>Securities Act</u> "), this Registration Statement shall also cover any additional shares of Registrant's common stock (the " <u>Common Stock</u> ") that become issuable under the plans by reason of any stock dividend, stock split, recapitalization or other similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;(2) This estimate is made pursuant to Rule 457(c) and Rule 457(h)(1) of the Securities Act solely for purposes of calculating the registration fee. The price per share and aggregate offering price of shares authorized for issuance under the Registrant's 2021 Stock Incentive Plan are based upon the average of the high and low prices of the Common Stock on February 7, 2023, as reported on the Nasdaq Capital Market.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Represents Common Stock issuable under stock option awards granted under the Registrant's 2021 Stock Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Represents shares of Common Stock authorized for issuance under the Registrant's 2021 Stock Incentive Plan.