Tag: SKYX Platforms Corp.

Research News and Market Data on SKYX

May 21, 2025 09:17 ET | Source: SKYX Platforms Corp.

The 63-Acre Mix-Use Urban Smart Home City in The Miami Little River District will include High- & Mid-Rise Buildings with over 5,700 Condos and Apartments including Workforce and Affordable Living, 350,000 SQF of Retail, 1.5 Million SQF of Green Walkways, Parks, Bike Paths, Shuttle Lanes, a New $35 Million Tri-Rail Station, and More

SKYX is Expected to Deploy Over 500,000 Units of its Advanced and Smart Home Plug & Play Platform Technologies and Products, including an AI Ecosystem. SKYX has Financial Backing from U.S. and Global Manufacturers to Support its Massive Product Deployment

The $3 Billion Project is Led by Prominent Developers SG Holdings, a Joint Venture between Swerdlow Group, SJM Partners, and Alben Duffie

The Architecture and Design of the Project is Led by World-Renowned Architectural Firm Arquitectonica

The Groundbreaking Smart Home Mixed-Use Major Development Will Redefine Miami’s Urban Landscape

MIAMI, May 21, 2025 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (“SKYX” or the “Company”), a highly disruptive smart home platform technology company with over 97 issued and pending patents globally and a growing portfolio of over 60 lighting and home décor websites, with a mission to make homes and buildings become smart, safe, and advanced as the new standard today announced a major collaboration with a $3 billion mixed-use smart city development in the Little River District in the heart of Miami. SKYX has financial backing from U.S. and Global manufacturers to support its massive product deployment.    

SKYX is expected to deliver over 500,000 units of its advanced and plug & play smart home technologies. SKYX’s platform technologies make homes and buildings safer, smart, and advanced, while saving significant time and cost.

SKYX’s deployed products will include ceiling outlet receptacles, its all-in-one smart home platform technology, an AI ecosystem, and plug & play products including lighting, ceiling fans, recessed lights, EXIT signs, emergency lighting, downlights, and indoor/outdoor wall lighting among others.

Per developers’ commitment to an advanced smart and safe urban community, all homes will be provided with SKYX’s all-in-one smart home platform technology that will include smart and safety features such as WIFI and WIFI repeaters, voice, and app controls, a 911 emergency calling feature, speakers, room to room intercom, emergency light, safety night light, color changing light, smoke and CO detectors, thermostats, among other AI and smart home features. Developers will be providing free internet for all community apartments. The Miami Little River project will be the first of its kind in the State of Florida.

SKYX’s technologies offer long-term recurring revenue opportunities through upgrades, product interchangeability, monitoring services, subscriptions, and platform-wide integrations for future developments.

The groundbreaking 63-acre urban revitalization project will be one of the largest housing and smart home initiatives in Miami’s history and will offer the 2,400 affordable apartments services, technology and amenities usually offered in high-end projects. The project is led by prominent developers SG Holdings, a joint venture comprised of the Swerdlow Group, SJM Partners and Alben Duffie, the team that has just delivered the 1.5 million sq. ft. Sawyer Walk project in Miami’s Overtown area.

The Urban Mixed-Use Smart Home Development will Contain High- & Mid-Rise Buildings and Housing and Will Include:

• Over 5,700 residential units, including workforce and affordable housing
• 350,000 square feet of retail and commercial space including major and national retailers, a major supermarket, big box retail, restaurants, offices, convenience stores, food and beverage options, and more
• 1.5 million square feet of green walkways, parks, bike paths, and shuttle lanes
• A new $35 million Tri-Rail station
• 250,000+ square feet of publicly accessible green space
• Amenities including fitness centers, pools, computer labs, among others
  

The Groundbreaking Smart Home Mixed-Use Major Development Will Redefine Miami’s Urban Landscape

Michael Swerdlow, Founder and CEO of Swerdlow Group and lead partner in SG Holdings, said, “Our $3 billion mixed-use development is set to redefine the urban landscape of Miami. To support that vision, we are integrating safe, advanced, and intelligent technologies—like SKYX’s innovative plug-and-play smart home platform—across our buildings and residences. These technologies will deliver meaningful value to our homeowners and the broader community.”

Stephen Garchik, Founder of SJM Partners, and a principal partner in SG Holdings, said, “Our 63-acre mixed-use development is designed to be a model for the future of smart urban living—safe, connected, and forward-thinking. We are looking forward to incorporating SKYX’s game-changing technologies, which will add significant value to our project, while enhancing safety, functionality, and overall experience of our buildings and homes and for the entire community.”

Rani Kohen, Founder, Inventor and Executive Chairman of SKYX Platforms Corp., said, “We are proud to collaborate on a Miami urban mixed-use smart city project of this magnitude in the heart of the city. Our advanced plug & play smart platform was designed to support the next generation of urban developments, and we look forward to the opportunity to contribute to a connected, safer, and more efficient living environment.”

Khadija Mustafa, Global AI and Sales Leader at Microsoft and Senior Technology Advisor to SKYX, added: “This Miami groundbreaking smart city project marks the start of a new era in intelligent living. While phones and cars have leapt ahead, the building socket has been left behind — until now. SKYX is laying the infrastructure to not just connect homes, hotels, and communities, but to unlock a gateway for AI-enabled services that will redefine how we live, work, and connect.”

For SKYX’s Technologies Video Link CLICK HERE

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d058044d-f44f-4d13-b4b9-7fb3bb4fd1b9

Research News and Market Data on SKYX

May 14, 2025 16:05 ET

Company expects its products to be in 30,000 U.S. and Canadian homes by the end of the Second quarter of 2025.

Company is Progressing with Significant Projects and Orders that will Enable it to Become Cash Flow Positive in Second Half of 2025

General and Administrative Expenses Decreased by 17% as Compared to the First Quarter of 2024 and Gross Margin and Gross Profit Improvement by 4.8% and 2% in the First Quarter of 2025 Sequentially from the Fourth Quarter of 2024

SKYX Announces Additional $4 million in Recent Preferred Stock Funding Representing $2 Per Share from Strategic Investors in a Round Totaling $15 million Led by Global Marriott Hotels Chain Owner, The Shaner Group

SKYX’s Safety Code Standardization Team is Receiving Support from a New Significant Prominent Leader with its Government Safety Organization Process for a Safety Mandatory Standardization of its Electrical Ceiling Outlet/Receptacle Technology

MIAMI, May 14, 2025 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 97 pending and issued patents globally and over 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today reported its financial and operational results for the First quarter ended March 31, 2025.

First Quarter 2025 Highlights and Recent Events

• Generated record First quarter 2025 revenues of 20.1 million compared to $18.9 million for the First quarter of 2024.
• As of March 31, 2024, Company reported $12.3 million in cash, cash equivalents, and restricted cash, as compared to $15.5 million as of March 31, 2024.
• SKYX has recently secured approximately $4 million in additional equity, mainly through preferred stock investment representing $2.00 per share of common stock with no warrants part of a broader financing round totaling approximately $15 million to date, led by The Shaner Group, owner, and developer of more than 70 hotels worldwide.
• The $15 million broader round included substantial participation from company insiders, including SKYX President Steve Schmidt and Co-CEOs Lenny Sokolow and John Campi, underscoring their continued confidence in SKYX’s strategic vision and growth trajectory.
• As common with companies such as ours when sales are converted into cash rapidly, often referred to as the “Dell Working Capital Model”, the Company leverages its trades payable to finance its operations, to enhance its cash position and to lower its cost of capital.
• Management emphasizes that it has sufficient cash to achieve its goals including being cash flow positive in 2025.
• Company reported a reduction in General and Administrative expenses of 17% by $1.3 million to $6.6 million in the First quarter of 2025 from $7.9 million in the First quarter of 2024.
• Company’s gross margin and gross profit for the First quarter ending March 31, 2025, increased sequentially by 4.8% and 2% to $5.7 million compared to the quarter ending December 31, 2024.
• Net loss per share decreased by $0.01 to ($0.09) per share in the first quarter of 2025 compared to ($0.10) in the first quarter of 2024. Adjusted EBITDA loss per share, a non-GAAP measure, decreased to $(0.04) per share in the first quarter of 2025, as compared to $(0.05) per share, in the first quarter of 2024.
• The Company continues to grow its market penetration of its advanced and smart plug & play products and expects its products to be in 30,000 U.S. and Canadian homes by the end of the Second quarter of 2025.
• Company expects its products to be in tens of thousands additional homes in the second half 2025.
• Company expects to continue increasing units and grow its revenue to pro and builder segments.
• The Company announced a U.S. strategic manufacturing partnership with Profab Electronics, a premier electronic contract manufacturer based in Pompano Beach, Florida. This collaboration marks a significant step forward in SKYX’s commitment to building a resilient, efficient, and localized supply chain for its innovative product lines. This in addition to manufacturing collaborations in Vietnam, Taiwan, China and Cambodia.
• Company strongly believes its products can save insurance companies many billions of dollars annually by reducing fires, ladder falls, and electrocutions among other things. Management expects that once it completes an entire range and variations of its safe plug & play products it will start being recommended by insurance companies.
• SKYX’s technologies provide opportunities for recurring revenues through interchangeability, upgrades, monitoring, and subscriptions. Company is focused on the “Razor & Blades” model and its product range includes its advanced ceiling electrical outlet (Razor) and its advance and smart home plug & play products (Blades) including its advance and smart home plug & play platform products, lighting, recessed lights, down lights, EXIT signs, emergency lights, ceiling fans, chandeliers/pendants, holiday/kids/themes lights, indoor/outdoor wall lights among other. Company’s plug & play technology enables an installation of lighting, fans, and smart home products in high-rise buildings and hotels within days rather than months.
• Company’s total addressable market (TAM) in the U.S. is roughly $500 billion with over 4.2 billion ceiling applications in the U.S. alone. Expected revenue streams from retail and professional segments include product sales, royalties, licensing, subscription, monitoring, and sale of global country rights.
• Company continues to utilize its e-commerce platform of over 60 websites for lighting and home décor to educate and enhance its market penetration to both retail and professional segments.

 Market Acceptance and Recent Events:

• In addition to selling product on it its 60 websites, SKYX collaborates with Home Depot for its Advanced and Smart Plug & Play Products for both retail and professional segments. SKYX’s product offering will include a variety of its Advanced and Smart Plug & Play Products including Retrofit Kits, Smart Light Fixtures, Smart Ceiling Fans, Ceiling Outlet Receptacles, Recessed Lights and more.
• Company collaborates with Wayfair for Its Advanced and Smart Plug & Play Products for both retail and professional segments. SKYX’s product offering will include a variety of its advanced and Smart Plug & Play products including Retrofit Kits, Smart Light Fixtures, Smart Ceiling Fans, Ceiling Outlet Receptacles, Recessed Lights and more.
• SKYX collaborates with U.S. and world leading lighting companies including Kichler Quoizel, European leading company, EGLO, and worlding lighting manufacturer Ruee.
• Collaborated with Cavco Homes, a leading U.S. prefabricated home manufacturer, for integrating our advanced and smart plug & play technologies into Cavco’s high-end premium homes shown at the builder show. Cavco is a public company that has sold nearly one million homes and continues to deliver close to 20,000 annually.
• Three luxury developments by Forte Developments, including an 80-story high-rise in Miami’s Brickell District and projects in Clearwater Beach and Jupiter, Florida, will feature SKYX’s technology. More than 12,000 smart plug & play products, including ceiling outlets, lighting, fans, and emergency fixtures, will be supplied across 400+ units. A 1,000-unit mixed-use development by Jeremiah Baron Companies will incorporate smart plug & play technologies, with 140 units receiving initial product supply. This product rollout will include ceiling outlets, lighting, fans, and emergency fixtures, with deliveries continuing throughout construction.
• A strategic partnership with JIT Electrical Supply, a leading builder supplier, will expand SKYX’s footprint in electrical, lighting, and ceiling fan markets. JIT, which has supplied over 100,000 U.S. homes, will distribute SKYX’s lighting solutions, ceiling fans, recessed lights, emergency lights, exit signs, and indoor/outdoor wall lights beginning early 2025.
• Huey Long, former Amazon E-Commerce Director and executive at Walmart and Ashley Furniture, has joined as head of SKYX’s e-commerce platform. He will collaborate with the existing team to expand market penetration across 60 lighting and home décor websites and other key e-commerce channels in the U.S. and Canada.
• Greg St. John, former Home Depot lighting head and CEO of Eglo and Cordelia Lighting, has been appointed President of Lighting, Fans, and Smart Home Products. With 30+ years of industry experience, he will lead expansion efforts in retail, homebuilder, and commercial markets, overseeing partnerships with Home Depot, Wayfair, and other major retailers.

Safety Standardization Mandatory Code / Insurance Specification and Recommendation

• SKYX’s Safety Code Standardization Team is receiving support from a new significant prominent leader with its government safety organization process for a safety mandatory standardization of its electrical ceiling outlet/receptacle technology.

• SKYX’s code team, led by industry veterans Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association (ALA). Company’s safety Code Standardization team believes it will achieve assistance from additional safety organizations with its code mandatory safety standardization efforts based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were instrumental in numerous code and safety changes in both the electrical and lighting industries. Both strongly believe that, in light of the Company’s standardization progress including its product specification approval voting for by ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturers Association) and being voted into 10 segments in the NEC Code Book, it has met the necessary safety conditions for becoming a ceiling safety standardization requirement for homes and buildings.
• With respect to insurance companies, the Company strongly believes its products can save insurance companies many billions of dollars annually by reducing fires, ladder falls, and electrocutions among other things. Management expects that once it completes an entire range and variations of its safe advanced plug & play products it will start being recommended by insurance companies.

Select First Quarter 2025 Financial Results

Revenue in the First quarter of 2025 increased 6% to a $20.1million, including E-commerce sales as well as smart and standard plug and play products, as compared to $18.9 million in the First quarter of 2024.

The gross margin and gross profit for the First quarter ending March 31, 2025, increased sequentially by 4.8 % and 2% to $5.7 million compared to the fourth quarter ending December 31, 2024.

Net cash used in operating activities for the First quarter ending March 31, 2025, decreased sequentially by 29% to $4 million compared to $6.1 million in the Fourth quarter of 2024.

Reported $12.3million in cash, cash equivalents, and restricted cash, as of March 31, 2025, as compared to $15.5 million as of March 31, 2024. As common with companies such as ours when their sales are converted into cash rapidly, often referred to as the “Dell Working Capital Model”, we leverage our trades payable to finance our operations to enhance our cash position and lower our cost of capital.

Recently secured $4 million in additional equity, mainly through preferred stock investment representing $2.00 per share of common stock with no warrants. This part of broader financing round totaling approximately $15 million to date, led by The Shaner Group, owner and developer of more than 70 hotels worldwide as well as SKYX’s President Steve Schmidt and Co-CEOs Lenny Sokolow and John Campi, underscoring their continued confidence in SKYX’s strategic vision and growth trajectory.

For the First quarter of 2025 Adjusted EBITDA loss, which is the loss before interest, taxes, depreciation, and amortization, as adjusted for share-based payments, a non-GAAP measure, decreased to $3.6 million, or $(.04) per share, as compared to $4.5 million, or $(.05) per share, in the First quarter of 2024.

The Company’s financial statements for the quarter ended March 31, 2025, will be filed with the SEC and are available on the Company’s investor relations website. https://ir.skyplug.com/sec-filings/.

Management Commentary

Company’s Management, Board members, and Senior Advisors include former CEO’s and executives from Fortune 100 companies including Nielsen, Microsoft, Disney, GE, Home Depot, Office Depot, Chrysler, among others.

Although the First quarter of 2025 reflected expected tempered revenues following traditionally stronger calendar fourth-quarter sales, the Company generated record First quarter 2025 revenues of $20.1 million as compared to $18.9 million for the First quarter of 2024.

The First quarter of 2025 was highlighted by our continued market acceptance and positioning that includes our previously announced collaboration with Home Depot and Wayfair which we believe can be significant for our growth to both retail and professional markets. Additionally, the Ruee Appliances collaboration will assist us with product variety, gross margins, future distribution channels, and sales and marketing programs with key stakeholders in such channels. We believe we have accelerated our cadence of sales, notably managing our cash burn, while our e-commerce platform with over 60 websites is providing additional cash flow to the Company, which, when combined with our existing cash enhanced by our approximately $15 Million equity raises between in October 2024 and May 2025, enhances our cash position to continue executing our business plan. We believe we will be cash flow positive during 2025.

We are encouraged by our path to the builder/commercial segments, large online and brick-and-mortar retail partners as well as our future potential to realize incremental licensing, subscription, and AI/data aggregation revenues.

Furthermore, our e-commerce website platform with 60 websites enhances the acceleration of marketing, distribution channels, collaborations, licensing and sales to both professional and retail segments. Our websites include banners, videos, and educational materials regarding the simplicity, cost savings, timesaving, and lifesaving aspects of the Company’s patented technologies.

 We believe we have accelerated our pace of sales with a robust gross margin profile, notably managing the cash burn of SKYX. Our e-commerce platform with over 60 websites is expected to continue providing additional cash flow to the Company.

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with First-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions, including recent measures adopted by the federal government, on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Non-GAAP Financial Measures

Management considers earnings (loss) before interest, taxes, depreciation and amortization, or EBITDA, as adjusted, an important indicator in evaluating the Company’s business on a consistent basis across various periods. Due to the significance of non-recurring items, EBITDA, as adjusted, enables management to monitor and evaluate the business on a consistent basis. The Company uses EBITDA, as adjusted, as a primary measure, among others, to analyze and evaluate financial and strategic planning decisions regarding future operating investments and potential acquisitions. The Company believes that EBITDA, as adjusted, eliminates items that are not part of the Company’s core operations, such as interest expense and amortization expense associated with intangible assets, or items that do not involve a cash outlay, such as share-based payments and non-recurring items, such as transaction costs. EBITDA, as adjusted, should be considered in addition to, rather than as a substitute for, pre-tax income (loss), net income (loss) and cash flows used in operating activities. This non-GAAP financial measure excludes significant expenses that are required by GAAP to be recorded in the Company’s financial statements and is subject to inherent limitations. Investors should review the reconciliation of this non-GAAP financial measure to the comparable GAAP financial measure. Investors should not rely on any single financial measure to evaluate the Company’s business.

Investor Relations Contact:

Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

Research News and Market Data on SKYX

May 13, 2025 09:29 ET

MIAMI, May 13, 2025 (GLOBE NEWSWIRE) — SKYX (NASDAQ: SKYX) (d/b/a “SKYX Technologies”), a highly disruptive advanced and smart home platform technology company for homes and buildings, with more than 97 issued and pending patents globally and a portfolio of over 60 lighting and home décor websites, announced today that it has secured approximately $4 million in recent funding from strategic investors through the purchase of preferred stock representing $2.00 per share. This investment is part of a broader financing round totaling approximately $15 million to date, led by The Shaner Group, owner and developer of more than 70 hotels worldwide.

The $15 million broader funding round also included substantial participation from company insiders, including SKYX President Steve Schmidt and Co-CEOs Lenny Sokolow and John Campi, underscoring their continued confidence in SKYX’s strategic vision and growth trajectory.

Proceeds from the financing will be used for general working capital and corporate purposes.

About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

Research News and Market Data on SKYX

Company to Provide Corporate Updates Including New Developments, First Quarter 2025 Overview and Financial Results; Conference Call to be Held Wednesday, May 14, 2025, at 4:30 P.M. Eastern Time

May 12, 2025 16:05 ET 

MIAMI, May 12, 2025 (GLOBE NEWSWIRE) — SKYX (NASDAQ: SKYX) (d/b/a “SKYX Technologies”), a highly disruptive advanced and smart home platform technology company for homes and buildings, with more than 97 issued and pending patents globally and a portfolio of over 60 lighting and home décor websites, announces today that it will host a Corporate Update call and present its first quarter 2025 overview and financial results. The conference call will be held on Wednesday, May 14, 2025, at 4:30 p.m. Eastern Time.

SKYX Participating Members will Include:

• Rani Kohen, Founder and Executive Chairman
• Steve Schmidt, SKYX President, (Former CEO of Nielsen Data Corporation and former President of Office Depot International)
• Lenny Sokolow, Co-CEO
• Marc Boisseau, CFO

SKYX Platforms – Q1 2025

Date: Wednesday, May 14, 2025
Time: 4:30 p.m. Eastern Time
U.S./Canada
Dial-in: 1-412-317-5180

International Dial-in: 1-844-825-9789

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About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com