I like the idea and contrast but not much else.
It is monotonous, black and white is one thing, but I am no fan of one color stints. The black coming down from the top right is unnecessary IMO and would look better without it. And the text.. because of the black in the corner, it's hard to read. It's also gray text and doesn't look good with the monochromatic sepia scheme. Could use more effects too.