M&A - SKYX Platforms Corp.

Form Type: 10-K

Filing Date: 2025-03-24

Corporate Action: Acquisition

Type: Update

Accession Number: 000164117225000290

Filing Summary: SKYX Platforms Corp. aims to make homes and buildings safer and smarter through innovative technologies. The company has developed advanced-safe-smart platform technologies, supported by nearly 100 U.S. and global patents. Their plug-and-play technology allows for easy installation of electrical fixtures without contacting hazardous wires. In 2023, SKYX expanded by acquiring an online retailer specializing in home lighting and furnishings, enhancing their e-commerce capabilities. The company continues to innovate in smart home technologies, integrating features that allow control through various app interfaces. Financial challenges persist, including a history of operating losses and the need for further financing to support ongoing operations. These factors contribute to significant risks, including reliance on third-party manufacturers and potential operational disruptions due to geopolitical events.