SKYX Platforms Corp. Files Q2 2024 10-Q

TL;DR

SKYX Platforms filed its Q2 10-Q. Financials are in.

AI Summary

SKYX Platforms Corp. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as SQL Technologies Corp. and Safety Quick Lighting & Fans Corp., is incorporated in Florida and operates in the electric lighting & wiring equipment sector. Its principal business address is in Pompano Beach, Florida.

Why It Matters

This filing provides investors with the company's financial performance and operational details for the second quarter of 2024, crucial for understanding its current business standing.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with its financial performance and market position.

Key Numbers

• 20240630 — Reporting Period End Date (The 10-Q covers financial information up to this date.)
• 20240812 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-01-01 to 2024-06-30 — Fiscal Year-to-Date Period (The period for which financial results are reported in this filing.)

Key Players & Entities

• SKYX Platforms Corp. (company) — Filer
• SQL Technologies Corp. (company) — Former company name
• Safety Quick Lighting & Fans Corp. (company) — Former company name
• 2855 W. MCNAB ROAD (location) — Business and mailing address
• POMPANO BEACH (location) — City for business and mailing address
• FL (location) — State for business and mailing address
• 33069 (location) — ZIP code for business and mailing address
• 463645414 (organization_id) — IRS Number

FAQ

Filing Documents

• form10-q.htm (10-Q) — 973KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex31-3.htm (EX-31.3) — 13KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex32-3.htm (EX-32.3) — 7KB
• 0001493152-24-031279.txt ( ) — 5871KB
• skyx-20240630.xsd (EX-101.SCH) — 44KB
• skyx-20240630_cal.xml (EX-101.CAL) — 66KB
• skyx-20240630_def.xml (EX-101.DEF) — 173KB
• skyx-20240630_lab.xml (EX-101.LAB) — 446KB
• skyx-20240630_pre.xml (EX-101.PRE) — 331KB
• form10-q_htm.xml (XML) — 848KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Cautionary Note Regarding Forward Looking Statements Item 1

Financial Statements

Financial Statements 4 Consolidated Balance Sheets 4 Consolidated Statements of Operations and Comprehensive Loss 5 Consolidated Statements of Changes in Stockholders' Equity (Deficit) 6 Consolidated Statements of Cash Flows 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4

Controls and Procedures

Controls and Procedures 26

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 27 Item 1A

Risk Factors

Risk Factors 27 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3 Defaults Upon Senior Securities 27 Item 4 Mine Safety Disclosures 27 Item 5 Other Information 27 Item 6 Exhibits 28

Signatures

Signatures 29 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Form 10-Q") of SKYX Platforms Corp. (the "Company," "we," "us," or "our") contains forward-looking statements that are based on management's beliefs and assumptions and on information currently available to management. All statements other than statements of historical facts contained in this Form 10-Q, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, outlook, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "aim," "objective," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative of these terms or other comparable terminology, although not all forward-looking are difficult to predict and may be outside our control, that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this Form 10-Q include, but are not limited to, statements about: our ability to successfully launch, develop additional features and achieve market acceptance of our smart products and technologies, access and integrate our products and technologies with third-party platforms or technologies, respond to rapidly changing technology and customer demands, and compete in our industry; our ability to successfully integrate and manage the operations of Belami, Inc. ("Belami") with our business; our ability to expand, operate and successfully manage

View Full Filing

View this 10-Q filing on SEC EDGAR