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SKYX on Nasdaq

SKYX Platforms Corp.

SKYX Platforms Corp. is an American electric lighting and wiring equipment company based in Pompano Beach.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSKYX on Nasdaq1
  • IndustryElectric Lighting & Wiring Equipment1
  • HeadquartersPompano Beach, Florida1
  • Incorporated inFL2
  • Business address2855 W. Mcnab Road, Pompano Beach, Fl 330692
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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App allows scheduling, energy saving-eco mode, dimming, back-up emergency light, night light, light color changing and much more.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-31.6%Operating margin5
-36.3%Net margin5
6.6%Revenue growth, 20255

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue70¢$64.2M
  • Other costs30¢$27.8M

Out of $92.0M in revenue.5 The company lost money this year.

Financial statements

Revenue67895$92.0M in 2025+1212% since 2016
0$25.0M$50.0M$75.0M$100.0M2016: $7.0M$7.0M20162017: $7.7M$7.7M2017+10%2021: $43.1K$43.1K2021−99%2022: $32.0K$32.0K2022−26%2023: $58.8M$58.8M2023+183479%2024: $86.3M$86.3M2024+47%2025: $92.0M$92.0M2025+7%
Gross profit678$18.0M in 2023+1953% since 2016
-$5.0M0$5.0M$10.0M$15.0M$20.0M2016: $878.6K$878.6K20162017: $1.3M$1.3M2017+50%2021: -$45.4K-$45.4K20212022: $13.1K$13.1K20222023: $18.0M$18.0M2023+137484%
Operating income7895-$29.1M in 2025+461% since 2021
-$40.0M-$30.0M-$20.0M-$10.0M02021: -$5.2M-$5.2M20212022: -$26.6M-$26.6M2022+413%2023: -$37.8M-$37.8M2023+42%2024: -$32.1M-$32.1M2024−15%2025: -$29.1M-$29.1M2025−9%
Net income67895-$33.4M in 2025−66% since 2016
-$100.0M-$75.0M-$50.0M-$25.0M02016: -$98.4M-$98.4M20162017: -$26.7M-$26.7M2017−73%2021: -$5.7M-$5.7M2021−79%2022: -$27.0M-$27.0M2022+372%2023: -$39.7M-$39.7M2023+47%2024: -$35.8M-$35.8M2024−10%2025: -$33.4M-$33.4M2025−7%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$92.0M$86.3M
Cost of revenues$64.2M$61.7M
Selling and marketing expenses$25.7M$25.4M
General and administrative expenses$31.2M$31.4M
Total expenses, net$121.1M$118.4M
Loss from operations-$29.1M-$32.1M
Interest expense - related party$119.5K$151.9K
Interest expense, net$4.2M$3.9M
Gain on extinguishment of debt-$400.0K
Total other expenses, net$4.3M$3.7M
Net loss-$33.4M-$35.8M
Preferred dividends - related party$80.0K$20.0K
Preferred dividends$979.2K$192.7K
Net loss attributed to common stockholders-$34.5M-$36.0M
Net loss per share - basic-$0.32-$0.36
Net loss per share - diluted-$0.32-$0.36
Weighted average number of common shares outstanding - basic108.8M shares99.8M shares
Weighted average number of common shares outstanding - diluted108.8M shares99.8M shares

Compare SKYX Platforms Corp. with another company

Corporate structure

SKYX Platforms Corp. sits at the top of its group. 6 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SKYX Platforms Corp.

  • Alyeska Investment Group, L.P. Filed SCHEDULE 13G/A on SKYX Platforms Corp., latest Aug 14, 2026 (2 filings since May 15, 2026)
  • Dov Shiff Filed SCHEDULE 13D/A on SKYX Platforms Corp., latest Jul 13, 2026 (9 filings since Feb 16, 2022)
  • Ran Roland Kohen Filed SCHEDULE 13D/A on SKYX Platforms Corp., latest Jan 28, 2026 (5 filings since Feb 15, 2022)
  • Motek 7 SQL LLC Filed SCHEDULE 13G/A on SKYX Platforms Corp., latest Aug 14, 2025 (2 filings since Feb 16, 2022)
  • Steven Siegelaub Filed SC 13G/A on SKYX Platforms Corp., latest May 31, 2023 (2 filings since Feb 16, 2022)
  • SKYX Platforms Corp. Pompano Beach, Florida
    • BEC CA 2, LLC Subsidiary · California, United States
    • Belami, Inc. Subsidiary · California, United States
    • Office Club Miami, LLC Subsidiary · Florida, United States
    • Sky Technology LLC Subsidiary · Florida, United States
    • SQL Lighting & Fans, LLC Subsidiary · Florida, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SKYX Platforms Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.3M5 Dec 31, 2025$1.3M5 Dec 31, 2024+81.0%
Accumulated depreciation$977.5K5 Dec 31, 2025$739.3K5 Dec 31, 2024+32.2%
Property and equipment, net$1.3M5 Dec 31, 2025$545.3K5 Dec 31, 2024+147.1%
Operating-lease assets (leased space)$17.5M5 Dec 31, 2025$19.8M5 Dec 31, 2024−11.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$8.1M5 Dec 31, 2025$12.6M5 Dec 31, 2024−36.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$16.2M5 Dec 31, 2025$16.2M5 Dec 31, 20240%
Finite-lived intangibles, gross$8.5M5 Dec 31, 2025$7.6M5 Dec 31, 2024+11.7%
Accumulated amortization-$3.5M5 Dec 31, 2025-$1.6M5 Dec 31, 2024−111.7%
Finite-lived intangibles, net$5.1M5 Dec 31, 2025$6.0M5 Dec 31, 2024−15.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$4.3M5 Dec 31, 2025$3.8M5 Dec 31, 2024+12.3%
Finished goods$3.1M5 Dec 31, 2025$3.2M5 Dec 31, 2024−1.5%

Properties, in its own words

We lease office space in Sacramento, California, Johns Creek, Georgia, Miami, Florida, Pompano Beach, Florida, New York, New York, and Guangdong Province, China. We anticipate moving our principal executive offices from Pompano Beach, Florida to Miami, Florida during 2026. We believe that our facilities are adequate to meet our current needs and that suitable additional or substitute space at commercially reasonable terms will be available as needed to accommodate any future expansion of our operations.

Item 2 of the 10-K filed Mar 26, 2026.4

Leadership

Who has led SKYX Platforms Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John P. Campi2015–2024
  2. Leonard J. Sokolow2023–now

Chair

  1. Ran Roland Kohen2017–now

President

  1. Mark J. Wells2017
  2. Steven Mark Schmidt2022–now

Chief financial officer

  1. Marc Andre Boisseau2022–now
20202025
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorEfrat L. Greenstein Brayer named Nov 10, 2022 to Sep 10, 202629

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • BEC CA 2, LLC California3
  • Belami, Inc. California3
  • Office Club Miami, LLC Florida3
  • SQL Lighting & Fans, LLC Florida3
  • Sky Technology LLC Florida3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • SQL Technologies Corp.Aug 15, 2016 to Jun 14, 20222
  • Safety Quick Lighting & Fans Corp.Feb 19, 2014 to Jul 20, 20162

Timeline

  1. Oct 14, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation30
  2. Oct 1, 20268-K Listing notice or transfer31
  3. Sep 10, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares32
  4. Aug 12, 20268-K Results of operations33
  5. Jul 10, 20268-K Shareholder vote34
  6. May 11, 20268-K Results of operations35
  7. Mar 26, 20268-K Results of operations36
  8. Jan 26, 20268-K Entered a material agreement; Regulation FD disclosure37
  9. Jan 13, 20268-K Entered a material agreement; Unregistered sale of shares38
  10. Jan 2, 20268-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed39
  11. Jan 2, 20268-K Entered a material agreement; Unregistered sale of shares40
  12. Dec 5, 20258-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed41
  13. Sep 13, 2023New chief executive Leonard J. Sokolow becomes CEO14
  14. Feb 20, 2015New chief executive John P. Campi becomes CEO15

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.07) a share, on Nov 12, 2025.42

When it reported results

  1. Aug 12, 2026Reported quarterly or annual results33
  2. May 11, 2026Reported quarterly or annual results35
  3. Mar 26, 2026Reported quarterly or annual results36
  4. Nov 12, 2025Reported quarterly or annual results43
  5. Aug 12, 2025Reported quarterly or annual results44
  6. Jul 31, 2025Reported quarterly or annual results45
  7. May 14, 2025Reported quarterly or annual results46
  8. Mar 24, 2025Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

349 filings to the SEC since October 2021: 6 annual reports, 14 quarterly reports, 67 major events, 144 insider forms, 20 large holders, 23 private raises, 75 other. The latest 20:

  1. Oct 14, 2026S-3 EDGAR
  2. Oct 14, 20268-K EDGAR
  3. Oct 1, 20268-K EDGAR
  4. Sep 30, 20264 EDGAR
  5. Sep 14, 20264 EDGAR
  6. Sep 10, 2026D EDGAR
  7. Sep 10, 20268-K EDGAR
  8. Aug 14, 2026SCHEDULE 13G/A EDGAR
  9. Aug 12, 202610-Q EDGAR
  10. Aug 12, 20268-K EDGAR
  11. Aug 4, 20264 EDGAR
  12. Jul 13, 2026SCHEDULE 13D/A EDGAR
  13. Jul 13, 20264 EDGAR
  14. Jul 10, 20268-K EDGAR
  15. Jun 30, 20264 EDGAR
  16. Jun 17, 20264 EDGAR
  17. Jun 12, 20264 EDGAR
  18. May 29, 2026SD EDGAR
  19. May 15, 2026D EDGAR
  20. May 15, 2026SCHEDULE 13G EDGAR

The 349 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

19 open-market trades by officers, directors and large owners since October 2021: 19 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 10, 2022Kohen Ran RolandExecutive ChairmanBuy1,000$2.05$2.0KForm 4
Jun 10, 2022Campi John P.Co-Chief Executive OfficerBuy3,400$2.15$7.3KForm 4
Jun 9, 2022Kohen Ran RolandExecutive ChairmanBuy5,000$2.15$10.8KForm 4
Jun 9, 2022Campi John P.Co-Chief Executive OfficerBuy5,000$2.06$10.3KForm 4
Jun 6, 2022Shiff DovDirectorBuy20,000$2.72$54.4KForm 4
Jun 6, 2022Kohen Ran RolandExecutive ChairmanBuy5,000$2.94$14.7KForm 4
Jun 3, 2022Shiff DovDirectorBuy10,000$3.56$35.6KForm 4
Jun 2, 2022Shiff DovDirectorBuy883$3.69$3.3KForm 4
Jun 1, 2022Shiff DovDirectorBuy5,723$3.70$21.2KForm 4
May 31, 2022Shiff DovDirectorBuy848$3.39$2.9KForm 4
May 27, 2022Shiff DovDirectorBuy1,604$3.40$5.5KForm 4
May 26, 2022Shiff DovDirectorBuy2,955$3.49$10.3KForm 4
May 24, 2022Shiff DovDirectorBuy11,922$3.58$42.7KForm 4
May 16, 2022Campi John P.Co-Chief Executive OfficerBuy5,000$5.36$26.8KForm 4
May 12, 2022Shiff DovDirectorBuy10,824$4.77$51.6KForm 4
May 12, 2022Kohen Ran RolandExecutive ChairmanBuy5,000$4.28$21.4KForm 4
May 12, 2022Schmidt Steven MarkPresidentBuy5,000$4.38$21.9KForm 4
Feb 14, 2022Shiff DovDirectorBuy235,712$14.00$3.3MForm 4
Feb 14, 2022Campi John P.Co-Chief Executive OfficerBuy14,285$14.00$200.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Rani R. Kohen60$300.0K$2.9M53
2025Leonard J. Sokolow69$160.0K$916.4K53
2025Patricia Barron65$150.0K$612.9K53
2025Marc-Andre Boisseau61$144.0K$242.8K53
2025John P. Campi$118.8K$193.9K53
2024Executive Chairman$300.0K$650.6K53
2024President$10.3K$580.6K53
2024Chief Executive Officer$160.0K$306.9K53
2024Chief Operations Officer$150.0K$261.7K53
2024Chief Financial Officer$144.0K$207.0K53
2024Former Co-ChiefExecutive Officer$150.0K$195.0K53

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 9, 2026Raised $25.2 million in a private offering of equity Form D: 3 investors so far Form D
  2. Apr 30, 2026Raised $186,984 in a private offering of equity Form D: 2 investors so far Form D
  3. Jan 7, 2026Raised $4 million in a private offering of equity Form D: 1 investor so far Form D
  4. Dec 30, 2025Raised $500,000 in a private offering of equity Form D: 2 investors so far Form D
  5. Dec 30, 2025Raised $600,000 in a private offering of debt Form D: 1 investor so far Form D
  6. Dec 3, 2025Raised $1 million in a private offering of equity Form D: 1 investor so far Form D
  7. Oct 17, 2025Raised $9.6 million in a private offering of debt Form D: 3 investors so far Form D
  8. Sep 2, 2025Raised $6 million in a private offering of debt Form D: 1 investor so far Form D
  9. Aug 15, 2025Raised $153,493 in a private offering of equity Form D: 2 investors so far Form D
  10. Apr 7, 2025Raised $975,000 in a private offering of equity Form D: 7 investors so far Form D
  11. Mar 27, 2025Raised $94,500 in a private offering of equity Form D: 1 investor so far Form D
  12. Nov 18, 2024Raised $107,000 in a private offering of equity Form D: 1 investor so far Form D
  13. Oct 4, 2024Raised $11 million in a private offering of equity Form D: 17 investors so far Form D
  14. Apr 11, 2024Raised $1 million in a private offering of debt Form D: 1 investor so far Form D
  15. Mar 29, 2024Raised $3.1 million in a private offering of debt Form D: 3 investors so far Form D
  16. Mar 29, 2024Raised $650,000 in a private offering of debt Form D: 3 investors so far Form D
  17. Mar 29, 2024Raised $515,751 in a private offering of equity Form D: 2 investors so far Form D
  18. Nov 10, 2023Raised $100,000 in a private offering of equity Form D: 1 investor so far Form D
  19. Apr 28, 2023Raised $11.8 million in a private offering of equity Form D: 3 investors so far Form D
  20. Apr 27, 2023Raised $2 million in a private offering of equity Form D: 1 investor so far Form D
  21. Mar 29, 2023Raised $2.2 million in a private offering of debt Form D: 3 investors so far Form D
  22. Feb 6, 2023Raised $8.1 million in a private offering of debt Form D: 3 investors so far Form D
  23. Nov 9, 2022Raised $653,300 in a private offering of equity Form D: 9 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 84. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC4,061,142$4.5M0.0%+694,666
Kanen Wealth Management LLC1,843,338$2.0M0.5%+693,217
Alyeska Investment Group, L.P.1,555,509$1.7M0.0%−6,133,441
Allied Private Wealth LLC1,123,352$1.3M0.8%New
Millennium Management LLC1,082,034$1.2M0.0%−538,561
BlackRock, Inc.995,824$1.1M0.0%−3,988,532
Geode Capital Management, LLC995,328$1.1M0.0%−1,135,475
Jane Street Group, LLC993,489$1.1M0.0%New
Clear Harbor Asset Management, LLC771,515$852.5K0.1%+138,900
Daytona Street Capital LLC634,089$808.5K0.6%+104,534
Corient Private Wealth LP709,549$784.1K0.0%+282,149
Vanguard Fiduciary Trust Co568,413$628.1K0.0%−74,897
Renaissance Technologies LLC501,700$554.4K0.0%−719,800
UBS Group AG427,552$472.4K0.0%+61,668
State Street Corp424,514$469.1K0.0%−754,970
Kestra Private Wealth Services, LLC348,000$384.5K0.0%−1,400
Susquehanna International Group, Llp347,746$384.3K0.0%+296,014
Leavell Investment Management, Inc.334,980$370.2K0.0%+171,230
Choreo, LLC301,898$333.6K0.0%+10,187
Qube Research & Technologies Ltd279,409$308.7K0.0%New
Goldman Sachs Group Inc276,389$305.4K0.0%+76,623
Jacobs Levy Equity Management, Inc232,963$257.4K0.0%New
Matrix Asset Advisors Inc/ny215,000$237.6K0.0%+13,334
Northern Trust Corp206,800$228.5K0.0%−457,578
Aster Capital Management (DIFC) Ltd193,240$213.5K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How SKYX Platforms Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSKYX Platforms Corp.1
  • CIK0001598981
  • Employer ID (EIN)46-36454144
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inFlorida4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3640 Electric Lighting & Wiring Equipment1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address2855 W. Mcnab Road, Pompano Beach, FL 330691
  • Phone(855) 759-75841
  • Shares outstanding135,430,994 as of Jul 31, 202612
  • Public float$87.1M as of Jun 30, 20254
  • AuditorM&K CPAS, PLLC, The Woodlands, TX PCAOB ID 2738; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceFeb 19, 20141
  • Filings434 in all: 4 (141), 8-K (75), 10-Q (27), D (26), CORRESP (23), 3 (21), UPLOAD (14), EFFECT (12)1
    All 42 form types

    10-K (9), 424B3 (8), S-3 (8), POS AM (6), S-1/A (6), SC 13D/A (6), SCHEDULE 13D/A (6), DEF 14A (5), DEFA14A (5), ARS (4), S-1 (3), SC 13D (3), 424B5 (2), S-8 (2), SC 13G (2), SCHEDULE 13G/A (2), 10-K/A (1), 15-12G (1), 424B4 (1), 8-A12B (1), 8-A12G (1), 8-K/A (1), CERT (1), D/A (1), DEF 14C (1), DRS (1), PRE 14C (1), PRER14C (1), RW (1), S-1MEF (1), S-3/A (1), SC 13G/A (1), SCHEDULE 13G (1), SD (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) May 13, 2026
    Latest 8-K (8-K) Oct 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, no par value per shareSKYXThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 26, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks SKYX Platforms Corp. names in Item 1A of its 10-K filed Mar 26, 2026: 63 risks under these headings, as written.4

  • These disclosures reflect the Company’s beliefs and opinions as to factors that could materially and adversely affect the Company and its securities in the future. References to past events are provided by way of examples only and are not intended to be a complete listing or a representation as to whether or not such factors have occurred in the past or their likelihood of occurring in the future.
  • Risks Related to Our Business
  • We have incurred net losses since inception, and we cannot assure you that we will ever generate sustainable revenue; in addition, our business has evolved, which makes it difficult to predict our future operating results.
  • We have a history of operating losses and will likely incur losses in the future as we continue our efforts to transition our product lines, achieve our strategic initiatives, grow our business and streamline our operations at a profitable level.
  • We expect to derive a substantial portion of our future revenue from a portfolio of related products and technologies; if we cannot successfully launch our products or further develop them to include additional features, our products and technologies fail to satisfy customer demands or achieve market acceptance, our business, operating results, financial condition, and growth prospects would be adversely affected.
  • We may be adversely impacted by monetary and trade policies.
  • Global economic conditions and the effect of economic pressures and other business factors on discretionary consumer spending and consumer preferences may have a material adverse effect on our business, results of operations and financial condition.
  • We invest significantly in research and development, and to the extent our research and development investments are not directed efficiently or do not result in material enhancements to our products and technologies, our business and results of operations would be harmed.
  • If we are unable to introduce new features or services successfully or make enhancements to our products and technologies or fail to integrate our products and technologies with a variety of third-party technologies, our business and results of operations could be adversely affected.
  • Our smart products and technologies will depend in part on access to third-party platforms or technologies, and if any such access is withdrawn, denied, or is not available on acceptable terms, or if the platforms or technologies change without notice, our business and operating results could be adversely affected.
  • If we fail to maintain and improve our methods and technologies, or anticipate new methods or technologies, for data collection, organization, and cleansing, competing products and services could surpass ours in depth, breadth or accuracy of our insights or in other respects.
  • If our smart products and technologies are not compatible with some or all leading third-party internet of things (“IoT”) products and protocols, we could be materially adversely affected.
The other 52 risks
  • The success of our business, and our ability to achieve our desired revenue and profitability goals, depends on our ability to develop, expand and successfully manage our operations and effectively and timely develop and implement our strategic business initiatives.
  • As we continue to implement our business strategy to focus on our smart products and technologies and retail websites, our results of operations, financial condition and cash flows may be materially adversely affected.
  • We will need to raise additional financing to support our operations, but we cannot provide any assurance that we will be able to obtain additional financing on terms favorable to us, or at all. If we are unable to obtain additional financing to meet our needs, our operations may be adversely affected or terminated.
  • We face risks associated with financing our operations related to our debt financing.
  • Our marketing efforts to help grow our retail business may not be effective, and failure to effectively develop and expand our sales and marketing capabilities could harm our ability to increase our customer base and achieve broader market acceptance of our e-commerce channel.
  • We operate in a highly competitive industry, and if we are unable to compete successfully, our business may be adversely affected.
  • We depend on third parties to provide integrated circuit chip sets and other critical components for use in our products.
  • We rely on a limited number of third-party manufacturers to produce our products. We may be unable to achieve our growth and profitability objectives if we cannot secure acceptable third-party manufacturers or existing third-party manufacturer relationships dissolve. In addition, our financial results could be adversely affected if we fail to successfully reduce our current or future production costs.
  • Our third-party manufacturers and many of our suppliers are located in China, which exposes us to additional risks.
  • We may acquire other businesses, license rights to technologies or products, form alliances, or dispose of assets or operations, which could cause us to incur significant expenses and could negatively affect profitability.
  • Our products business may become substantially dependent on contracts that are awarded through competitive bidding processes.
  • If we fail to develop our brand, our business may suffer.
  • Our inability to protect our intellectual property, or our involvement in damaging and disruptive intellectual property litigation, could adversely affect our business, results of operations and financial condition or result in the loss of use of the related product or service.
  • The expiration or loss of patent protection and licenses may affect our future revenues and operating income.
  • We are, or may be in the future, subject to substantial regulation related to quality and safety standards applicable to our products and technologies. Our failure to comply with applicable quality or safety standards could have an adverse effect on our business, financial condition or results of operations.
  • We could face significant liabilities in connection with our products, technologies, and business operations, which, if incurred beyond any insurance limits, would adversely affect our business and financial condition.
  • We are, from time to time, subject to legal claims against us or claims by us that could have a significant impact on our resulting financial performance.
  • We have limited product distribution experience for our Sky Technologies products and we expect to rely on third parties, who may not successfully sell our products and technologies.
  • We rely on third parties maintaining open marketplaces to distribute our mobile application. If such third parties interfere with the distribution of our application, our business would be adversely affected.
  • Our net sales, and ability to market and sell our new products and technologies, might be adversely impacted if our products and technologies do not meet certain certification and compliance standards.
  • Defects in our mobile application and the technology powering it may adversely affect our business.
  • Changes to tax laws or exposure to additional tax liabilities may have a negative impact on our operating results.
  • Certain U.S. state and local tax authorities may assert that the Company has a nexus with such states or localities and may seek to impose state and local income taxes on its income allocated to such state and localities.
  • Taxing authorities may successfully assert that the Company should have collected or in the future should collect sales and use taxes for its services, which could adversely affect the Company’s results of operations.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • The elimination of monetary liability against our directors, officers, and employees under Florida law and the existence of indemnification rights to our directors, officers and employees may result in substantial expenditures by us and may discourage lawsuits against our directors, officers and employees.
  • Other factors could have a materially adverse effect on our future profitability and financial condition.
  • Risks Related to Our Operations
  • Our actual operating results will differ significantly from guidance provided by our management.
  • We have incurred, and will continue to incur, increased costs as a result of operating as a public company, and our management is required to devote substantial time to compliance initiatives.
  • Our future success depends on our ability to retain key employees and to attract, retain and motivate qualified personnel.
  • Our culture has contributed to our success, and if we cannot maintain this culture as we grow, we could lose the innovation, creativity and teamwork fostered by our culture, and our business may be harmed.
  • As a result of being a public company, we are obligated to develop and maintain proper and effective internal control over financial reporting, and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in us and, as a result, the value of our common stock.
  • Unstable market and economic conditions may have serious adverse consequences on our business, financial condition, and stock price.
  • Conditions in Israel, including conflicts in the Middle East, may adversely affect our operations, which could negatively impact our revenues and cash flows.
  • Our internal computer systems, or those of our third-party manufacturers or other contractors or consultants, may fail or suffer security breaches. If our information technology systems security measures are breached or fail, our products and technologies may be perceived as not being secure, customers may curtail or stop buying our products and technologies, we may incur significant legal and financial exposure, and our reputation, results of operations, financial condition and cash flows could be materially adversely affected.
  • We have begun to incorporate artificial intelligence capabilities in our product offerings, which may present operational and reputational risks.
  • Intentional or accidental actions or inactions by employees or other third parties with authorized access to our networks may result in the exposure of vulnerabilities that may be exploited or expose us to liability. Third parties may also conduct attacks designed to temporarily deny customers access to our cloud services.
  • We rely upon third-party providers of cloud-based infrastructure to host our solutions. Any disruption in the operations of these third-party providers, limitations on capacity or interference with our use could adversely affect our business, financial condition, revenues, results of operations or cash flows.
  • We may collect, store, process and use our customers’ personal identifiable information and other data, which subjects us to governmental regulation and other legal obligations related to data privacy, information security and data protection. Any cybersecurity breaches or actual or perceived failure to comply with such legal obligations by us, or by our third-party service providers or partners, could harm our business.
  • Natural disasters, geopolitical events, and other highly disruptive events could materially and adversely affect our business, financial condition and results of operations.
  • We are implementing a new enterprise resource planning system. Our failure to implement it successfully, on time and on budget could have a material adverse effect on us.
  • Risks Related to Our Common Stock
  • We may not be able to maintain our Nasdaq listing and may incur additional costs as a result of our Nasdaq listing.
  • The price of our common stock may be volatile and fluctuate substantially.
  • The conversion of outstanding convertible notes or preferred stock into shares of common stock could materially dilute our stockholders.
  • The outstanding preferred stock has rights, preferences and privileges that will not be held by, and will be preferential to, the rights of holders of our common stock, which could adversely affect the liquidity and financial condition of the Company, and may result in the interests of the holders of our outstanding preferred stock differing from those of the holders of our common stock.
  • If securities analysts do not publish research or reports about our business, or if they publish negative evaluations of our stock, the price of our stock could decline.
  • Our executive officers, directors, principal stockholders, and their affiliates exercise considerable influence over us, which will limit your ability to influence corporate matters and could delay or prevent a change in corporate control. In addition, our outstanding convertible preferred stock has voting rights, which reduce the relative voting power of holders of our common stock.
  • Sales of a substantial number of shares of our common stock in the public market by our stockholders could cause our share price to fall.
  • We are a smaller reporting company, and the reduced reporting requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
  • Market and economic conditions may negatively impact on our business, financial condition and share price.
  • Because we do not anticipate paying any cash dividends on our common stock in the foreseeable future, capital appreciation, if any, will be your sole source of gain.
  • Anti-takeover provisions in our charter documents and under Florida law could discourage, delay or prevent a change in control of us and may affect the trading price of our common stock.

Legal proceedings

From time to time, we become involved in legal proceedings arising in the ordinary course of our business. As of the date of this Form 10-K, we were not a party to any material legal matters or claims. Legal proceedings are inherently uncertain and, as a result, the outcome of a particular matter or a combination of matters may be material to our results of operations for a particular period, depending upon the size of the loss or our income for that particular period.

We assess our liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that we will incur a loss and the amount of the loss can be reasonably estimated, we record a liability in our consolidated financial statements. These legal accruals may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of the loss is not estimable, we do not record an accrual, consistent with applicable accounting guidance.

The opening of Item 3, Legal Proceedings.4

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