0001598981
false
0001598981
2023-08-03
2023-08-03
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 3, 2023
SKYX
PLATFORMS CORP.
(Exact
name of Registrant as Specified in its Charter)
Florida
|
|
001-41276
|
|
46-3645414
|
(State
or other jurisdiction of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
2855
W. McNab Road
Pompano
Beach, Florida 33069
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (855) 759-7584
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
symbol(s) |
|
Name
of each exchange on which registered |
| Common
Stock, no par value per share |
|
SKYX |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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 pursuant to Section 13(a) of the Exchange Act. ☐
| Item
2.02 |
Results
of Operations and Financial Condition |
On
August 3, 2023, SKYX Platforms Corp. (d/b/a Sky Technologies) (the “Company”) issued a press release announcing its preliminary
selected unaudited financial results for the three months ended June 30, 2023. A copy of the press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by reference.
The
preliminary selected financial results in such exhibit are preliminary, are not a comprehensive statement of financial results for the
quarter ended June 30, 2023, and are provided prior to completion of all internal and external audit review procedures and, therefore,
are subject to adjustment. Actual results may vary from these estimates, and the variations may be material. Among the factors that could
cause or contribute to material differences between the Company’s actual results and expectations indicated by the forward-looking
statements are risks and uncertainties that include, but are not limited to: changes to the Company’s financial results for the
quarter ended June 30, 2023 due to the completion of financial closing procedures, final adjustments and other developments that may
arise between now and the time that the Company’s financial statements for the quarter are finalized and publicly released and
other risks and uncertainties described above and in the Company’s filings with the Securities and Exchange Commission.
Pursuant
to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein and in this
Item 2.02 have been furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section nor shall they be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such filing regardless of any general incorporation language.
| Item
9.01 |
Financial
Statements and Exhibits. |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| |
SKYX
PLATFORMS CORP. |
| |
|
|
| Date:
August 3, 2023 |
By:
|
/s/
John P. Campi |
| |
Name: |
John
P. Campi |
| |
Title: |
Chief
Executive Officer |
Exhibit
99.1
SKYX
Announces Over $14 Million (unaudited) In Sales for Partial Second Quarter, Including Sales of Its Plug & Play Products That Are
Now Sold on 16 US and Canadian Leading Websites
The
Company Will Conduct an Investor Update Call on August 9 at 10:30am EST to Discuss its Progress and Growing Sales of its Plug & Play
Smart and Standard Products, Financials, as Well as its Continuing Safety Standardization Progress
The
Company will Provide an Access Link to the Investor Update Call in a Subsequent Press Release
Miami,
FL / ACCESSWIRE / August 3, 2023 – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a “Sky Technologies”), a
highly disruptive platform technology company with over 60 issued and pending patents globally with a mission to make homes and buildings
become safe and smart as the new standard, announced today that it has over $14 million in sales for the partial second quarter,
including sales of its Smart and Standard Plug & Play products that are now sold on over 16 US and Canadian leading lighting and
home décor websites.
These
websites serve both retail and professional customers and include the following websites: 1stoplighting.com, Lightingdesignexperts.com,
Canadalightingexperts.com, Americanlightingstore.com, Homeclick.com, and Lunawarehouse.com among others.
Rani
Kohen, Founder and Executive Chairman of SKYX Platforms, said: “We are very happy to initiate our sales now on over 16 lighting
and home décor websites in the US and Canada, as well as market and educate both retail and professional customers on the simplicity,
cost saving, time saving, and life-saving aspects of our Sky ceiling outlet receptacle and our plug & play smart and standard products.
We expect to continue our product launch in additional locations in the coming months.”
Steve
Schmidt, President of SKYX Platforms, said: “Seeding the market with our products and introducing the concept of a plug &
play ceiling outlet and products to
consumers, showing them that there is truly a better, safer, and faster way, positions us to
continue our rapid pace of operational execution. We look forward to providing the investment community with an update on our value-creation
initiatives next week on our investor update call and would encourage all current and prospective shareholders to attend.”
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
Platforms Corp. (NASDAQ:SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global
patents and patent pending applications. 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. The company owns 64 lighting and home décor websites For more information, please visit our
website at https://skyplug.com/ or follow us on LinkedIn.
Preliminary
Financial Results
The
preliminary selected financial results in this press release are preliminary, are not a comprehensive statement of financial results
for the quarter ended June 30, 2023, and are provided prior to completion of all internal and external audit review procedures and, therefore,
are subject to adjustment. Actual results may vary from these estimates, and the variations may be material. Among the factors that could
cause or contribute to material differences between the Company’s actual results and expectations indicated by the forward-looking
statements are risks and uncertainties that include, but are not limited to: changes to the Company’s financial results for the
quarter ended June 30, 2023 due to the completion of financial closing procedures, final adjustments and other developments that may
arise between now and the time that the Company’s financial statements for the quarter are finalized and publicly released and
other risks and uncertainties described above and in the Company’s filings with the Securities and Exchange Commission.
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,” “position,” “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.
Such
forward-looking statements include any statements regarding SKYX’s sales, revenues, and SKYX’s products becoming a new standard.
There can be no assurance that any of the Company’s current or future products or technologies will gain market acceptance or that
they will be adopted by any state, country, or municipality, within any specific timeframe or at all. 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 smart products and technologies, including commencement
of presales, the Company’s efforts and ability to drive the adoption of Sky’s Smart Platforms into homes, buildings, cruise
ships and communities and adoption by hotels, builders and architects, ability to capture market share, ability to execute on any sales
and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, risks arising from mergers and acquisitions, 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. 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.
Media
Relations Contacts:
Britney
Ouzts/Barbara Goldberg
O’Connell
& Goldberg, Inc.
(754)
204-7074/ (954) 294-4677
bouzts@oandgpr.com / bgoldberg@oandgpr.com
Investor
Relations Contact:
Lucas
A. Zimmerman
MZ
North America
(949)
259-4987
SKYX@mzgroup.us
v3.23.2
| X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
| Name: |
dei_EntityAddressAddressLine1 |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Definition
+ References
+ Details
| Name: |
dei_EntityAddressCityOrTown |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCode for the postal or zip code
| Name: |
dei_EntityAddressPostalZipCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the state or province.
| Name: |
dei_EntityAddressStateOrProvince |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:stateOrProvinceItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityEmergingGrowthCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
| Name: |
dei_EntityFileNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fileNumberItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
| Name: |
dei_EntityIncorporationStateCountryCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarStateCountryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityRegistrantName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityTaxIdentificationNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:employerIdItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLocal phone number for entity.
| Name: |
dei_LocalPhoneNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
| Name: |
dei_PreCommencementIssuerTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
| Name: |
dei_PreCommencementTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTitle of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
| Name: |
dei_Security12bTitle |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:securityTitleItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
| Name: |
dei_SecurityExchangeName |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarExchangeCodeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Section 14a
-Number 240
-Subsection 12
| Name: |
dei_SolicitingMaterial |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
| Name: |
dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:tradingSymbolItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
| Name: |
dei_WrittenCommunications |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
SKYX Platforms (NASDAQ:SKYX)
Historical Stock Chart
From Apr 2024 to May 2024
SKYX Platforms (NASDAQ:SKYX)
Historical Stock Chart
From May 2023 to May 2024
