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SKYX Platforms (SKYX) - 2025 Q2 - Quarterly Report

PART I. FINANCIAL INFORMATION Cautionary Note Regarding Forward-Looking Statements This section highlights that the report contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially - The report contains forward-looking statements that are subject to risks, uncertainties, and other factors, which may cause actual results to differ materially from projections89 - Key risks include the ability to successfully launch and gain market acceptance for smart products, manage and grow operations (including Belami, Inc.), raise additional financing, comply with debt terms, reliance on third-party manufacturers, and potential legal proceedings10 - Macroeconomic conditions, such as unstable market conditions, governmental regulations, geopolitical conflicts, inflation, labor shortages, supply chain constraints, and cybersecurity breaches, are also identified as potential impact factors10 Item 1. Financial Statements This section presents the unaudited consolidated financial statements for SKYX Platforms Corp., including Balance Sheets, Statements of Operations, Stockholders' Equity, and Cash Flows, along with detailed notes Consolidated Balance Sheets (Unaudited) The Consolidated Balance Sheets detail the company's financial position, showing changes in assets, liabilities, and equity Consolidated Balance Sheet Highlights | Metric | June 30, 2025 | December 31, 2024 | Change ($) | Change (%) | |---|---|---|---|---| | Cash and cash equivalents | $12,846,554 | $12,639,441 | $207,113 | 1.64% | | Total current assets | $20,431,228 | $20,374,450 | $56,778 | 0.28% | | Total Assets | $64,439,039 | $65,887,047 | $(1,448,008) | -2.20% | | Total current liabilities | $29,037,927 | $26,135,511 | $2,902,416 | 11.11% | | Total liabilities | $58,749,100 | $56,833,619 | $1,915,481 | 3.37% | | Total stockholders' equity | $689,939 | $4,053,428 | $(3,363,489) | -82.98% | - The company's total assets decreased by approximately $1.45 million, while total liabilities increased by $1.92 million, leading to a significant decrease in total stockholders' equity by $3.36 million1314 Consolidated Statements of Operations (Unaudited) The Consolidated Statements of Operations show the company's financial performance, with increased revenue but also higher operating and interest expenses, resulting in a larger net loss Consolidated Statements of Operations Highlights | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | Change ($) | Change (%) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change ($) | Change (%) | |---|---|---|---|---|---|---|---|---| | Revenue | $23,061,655 | $21,446,148 | $1,615,507 | 7.53% | $43,175,593 | $40,423,969 | $2,751,624 | 6.81% | | Cost of revenues | $16,064,486 | $14,869,521 | $1,194,965 | 8.04% | $30,466,974 | $28,269,292 | $2,197,682 | 7.77% | | Selling and marketing expenses | $6,185,017 | $6,271,708 | $(86,691) | -1.38% | $13,012,437 | $12,798,524 | $213,913 | 1.67% | | General and administrative expenses | $8,333,265 | $6,540,218 | $1,793,047 | 27.42% | $14,930,320 | $14,479,799 | $450,521 | 3.11% | | Loss from operations | $(7,521,113) | $(6,235,299) | $(1,285,814) | 20.62% | $(15,234,138) | $(15,123,646) | $(110,492) | 0.73% | | Net loss | $(8,826,929) | $(7,462,949) | $(1,363,980) | 18.28% | $(17,879,057) | $(17,139,150) | $(739,907) | 4.32% | | Net loss per share - basic and diluted | $(0.08) | $(0.08) | $0.00 | 0.00% | $(0.17) | $(0.18) | $0.01 | -5.56% | - Revenue increased by 7.53% for the three months and 6.81% for the six months ended June 30, 2025, primarily due to increased sales of lighting and heating products1690 - Net loss increased by 18.28% for the three months and 4.32% for the six months ended June 30, 2025, driven by higher operating expenses, particularly general and administrative expenses, and increased interest expense169495 Consolidated Statements of Stockholders' Equity (Unaudited) The Consolidated Statements of Stockholders' Equity detail changes in preferred stock, common stock, additional paid-in capital, and accumulated deficit, reflecting new stock issuances and increased deficit Stockholders' Equity Changes (Six Months Ended June 30) | Metric | 2025 | 2024 | |---|---|---| | Series A-1 Preferred Stock (value) | $9,174,167 | $0 | | Common stock and paid-in capital | $191,667,028 | $172,426,254 | | Accumulated Deficit | $(200,151,256) | $(162,942,164) | | Total stockholders' equity | $689,939 | $9,484,090 | - Total stockholders' equity significantly decreased from $9.48 million in 2024 to $0.69 million in 2025 for the six-month period, primarily due to an increased accumulated deficit19 - The company issued 154,000 shares of Series A-1 Preferred Stock for $3.67 million and 3,875,013 shares of common stock through offerings for $4.67 million during the six months ended June 30, 2025196162 Consolidated Statements of Cash Flows (Unaudited) The Consolidated Statements of Cash Flows show decreased net cash used in operating activities and increased net cash from financing, leading to a positive change in cash in 2025 Consolidated Statements of Cash Flows Highlights (Six Months Ended June 30) | Activity | 2025 | 2024 | |---|---|---| | Net cash used in operating activities | $(6,309,778) | $(10,397,019) | | Net cash used in investing activities | $(775,365) | $(279,277) | | Net cash provided by financing activities | $7,292,256 | $3,847,710 | | Change in cash, cash equivalents and restricted cash | $207,113 | $(6,828,586) | | Cash, cash equivalents and restricted cash at end of period | $15,707,608 | $15,601,677 | - Net cash used in operating activities decreased by approximately $4.09 million, while net cash provided by financing activities increased by $3.44 million, primarily from stock issuances21 - The company's cash, cash equivalents, and restricted cash increased by $207,113 in 2025, a significant improvement from a decrease of $6.83 million in 202421 Notes to Consolidated Financial Statements (Unaudited) These notes provide detailed explanations and disclosures for the unaudited consolidated financial statements, covering operations, accounting policies, and specific financial accounts NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS SKYX Platforms Corp. develops advanced-safe-smart platform technologies and markets home furnishings, facing a 'going concern' doubt due to recurring losses - SKYX Platforms Corp. develops advanced-safe-smart platform technologies for light fixtures, ceiling fans, and other electrically wired products, featuring plug-and-play installation and smart controls via the SkyHome App2324 - The company also markets home lighting, ceiling fans, and other home furnishings from third parties since April 202325 - A 'going concern' doubt exists due to recurring operating losses ($6.3 million net cash used in operations for H1 2025) and an $8.6 million working capital deficit as of June 30, 2025, despite $15.7 million in cash and cash equivalents26 - Management plans to mitigate the going concern risk by increasing revenues and margins, and generating cash through ATM offerings or other equity/debt financing27 NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This note outlines significant accounting policies, including GAAP basis, use of estimates, consolidation, and policies for cash, inventory, and income taxes - Financial statements are prepared in accordance with GAAP for interim statements, relying on management estimates and assumptions28293031 - The consolidated financial statements include the results of SKYX Platforms Corp. and its subsidiaries, such as Belami, Inc32 Cash, Cash Equivalents, and Restricted Cash | Item | June 30, 2025 | December 31, 2024 | |---|---|---| | Cash and cash equivalents | $12,846,554 | $12,639,441 | | Restricted cash | $2,861,054 | $2,861,054 | | Total | $15,707,608 | $15,500,495 | Inventory Composition | Item | June 30, 2025 | December 31, 2024 | |---|---|---| | Inventory, component parts | $1,777,306 | $1,901,922 | | Inventory, finished goods | $2,627,136 | $3,183,424 | | Allowance | $(1,300,000) | $(1,300,000) | | Inventory-total | $3,104,442 | $3,785,346 | - New FASB standards on income tax disclosures (effective 2025) and expense disaggregation (effective 2026) are being evaluated for their impact4445 NOTE 3. PROPERTY AND EQUIPMENT Property and equipment, net, increased to $1.99 million as of June 30, 2025, primarily due to a rise in internal-use software Property and Equipment, Net | Item | June 30, 2025 | December 31, 2024 | |---|---|---| | Equipment and furniture | $924,627 | $924,627 | | Internal-use software | $1,580,027 | $804,660 | | Leasehold improvements | $360,003 | $360,003 | | Total, net | $1,992,228 | $1,349,993 | - Internal-use software significantly increased from $804,660 to $1.58 million, contributing to the overall rise in property and equipment47 - Depreciation expense amounted to $133,132 as of June 30, 202547 NOTE 4. INTANGIBLE ASSETS AND GOODWILL Intangible assets, net, decreased to $4.17 million due to amortization, while goodwill remained constant at $16.16 million Intangible Assets, Net | Item | June 30, 2025 (Net carrying value) | December 31, 2024 (Net carrying value) | |---|---|---| | Customer relationships | $3,107,143 | $3,428,571 | | E-commerce technology platforms | $485,126 | $1,156,258 | | Patents and other | $574,955 | $604,884 | | Total, net | $4,167,224 | $5,189,713 | - Amortization expense on intangible assets was $1.02 million for the six months ended June 30, 2025, compared to $880,440 for the same period in 202448 - Goodwill remained unchanged at $16.16 million13 NOTE 5. DEBTS Total debt, net of unamortized debt discount, was $16.62 million as of June 30, 2025, with increased interest expense and new convertible notes issued Debt Components (Net of Discount) | Item | June 30, 2025 | December 31, 2024 | |---|---|---| | Convertible Notes | $15,592,408 | $15,592,408 | | Notes payable to financial institutions and others | $3,945,507 | $4,515,297 | | Total Debt | $19,537,915 | $20,107,705 | | Unamortized debt discount | $(2,920,229) | $(3,477,227) | | Debt, net of Unamortized debt Discount | $16,617,686 | $16,630,478 | - Interest expense for the six months ended June 30, 2025, was $2.64 million, an increase from $2.02 million in the prior year50 - The company issued convertible promissory notes totaling $3.12 million to Belami sellers in substitution of cash obligations, bearing 10% annual interest and convertible at $3.00 per share51 - A $1.0 million convertible note was issued to GE in April 2024, due April 2027, non-interest bearing, and convertible at $1.07 per share52 NOTE 6. OPERATING LEASE LIABILITIES The company has operating lease liabilities for office and showroom spaces, with a weighted-average remaining lease term of 89 months and a discount rate of 6.48% - The company holds significant operating lease liabilities for office and showroom spaces, including a 124-month lease for its future headquarters5354 Operating Lease Information (Six Months Ended June 30) | Metric | 2025 | 2024 | |---|---|---| | Cash paid for operating lease liabilities | $1,141,327 | $1,021,684 | | Rights-of-use obtained in exchange for new operating lease liabilities | $0 | $662,696 | | Fixed rent payments | $1,848,803 | $1,801,418 | | Lease - Depreciation expense | $1,013,688 | $1,041,593 | | Weighted-average discount rate | 6.48% | 6.48% | | Weighted-average remaining lease term (in months) | 89 | 98 | NOTE 7. ROYALTY OBLIGATIONS The company owes $1.5 million to General Electric (GE) under a past license agreement, payable in quarterly tranches through 2026 - The company owes $1.5 million to GE as of June 30, 2025, from a license agreement that expired in 202357 - Payments are scheduled in quarterly tranches, with $0.8 million due in 2024-2025 and $0.9 million in 202657 - An additional $1.4 million obligation to GE was reduced by $400,000 in April 2024, in exchange for a $1.0 million convertible promissory note57 NOTE 8. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Total accounts payable and accrued expenses increased to $16.64 million as of June 30, 2025, driven by higher trade payables and accrued interest Accounts Payable and Accrued Expenses | Item | June 30, 2025 | December 31, 2024 | |---|---|---| | Accrued interest, convertible notes | $1,243,060 | $1,044,708 | | Accrued dividends | $269,228 | $212,667 | | Trade payables | $13,600,641 | $10,043,423 | | Accrued compensation | $1,530,322 | $2,979,131 | | Total | $16,643,251 | $14,279,929 | - Trade payables saw a significant increase of over $3.5 million, indicating increased purchasing or extended payment terms58 NOTE 9. RELATED PARTY TRANSACTIONS Related party transactions include $950,000 in convertible notes with $187,597 accrued interest, and $20,000 in preferred dividends paid - Convertible notes from related parties (director and Co-CEOs) totaled $950,000, with accrued interest of $187,597 as of June 30, 202559 - Interest expense to related parties was $35,696 for the six months ended June 30, 202559 - Preferred dividends of $20,000 were paid/declared to related parties during the six months ended June 30, 202560 NOTE 10. STOCKHOLDERS' EQUITY This note details changes in common stock, preferred stock, stock options, restricted stock units, and warrants, including issuances and compensation expenses Common Stock Issuances (Six Months Ended June 30, 2025) | Transaction Type | Shares Issued | Valuation ($) | Average Value Per Share | |---|---|---|---| | Common stock issued, pursuant to services provided | 3,295,268 | $6,653,522 | $1.16 – 1.87 | | Common stock issued pursuant to stock at the market offering, net | 3,875,013 | $4,672,383 | $1.21 | | Common stock issued pursuant to conversion of preferred stock and related dividends | 251,935 | $503,870 | $2.00 | - Series A-1 Preferred Stock balance increased to 374,000 shares with a carrying value of $9.17 million as of June 30, 2025, following issuances and a conversion to common stock62 - Stock options outstanding decreased slightly to 31,470,322 shares with a weighted average exercise price of $6.80 as of June 30, 202563 - Non-vested restricted stock units decreased to 5,528,579 shares with a weighted average grant fair value of $1.62 as of June 30, 202566 - Total stock-based compensation expense recognized for the six months ended June 30, 2025, was $6.65 million ($5.41 million for RSUs/RSAs and $1.24 million for stock options)68 NOTE 11. CONCENTRATIONS OF RISKS AND SEGMENT The company operates in one segment, advanced-safe-smart technologies, with cash concentrated in two financial institutions and two third-party payors representing 47% of accounts receivable - The company operates as a single segment focused on advanced-safe-smart technologies and related products77 - No single customer accounted for 10% or more of revenue or accounts receivable, but two third-party payors represented 47% of total accounts receivable as of June 30, 202573 - Cash and cash equivalents are held primarily with two financial institutions, with deposits exceeding FDIC insured amounts75 Consolidated Revenues and Net Loss (Six Months Ended June 30) | Metric | 2025 | 2024 | |---|---|---| | Revenues from external customers and consolidated revenues | $43,175,593 | $40,423,969 | | Total operating expenses, net | $58,409,731 | $55,547,615 | | Net loss | $(17,879,057) | $(17,139,150) | NOTE 12. SUBSEQUENT EVENTS Management found no significant subsequent events requiring adjustment or disclosure between June 30, 2025, and the financial statement issuance date - No significant subsequent events requiring adjustment or disclosure were identified between June 30, 2025, and the financial statement issuance date80 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management's Discussion and Analysis provides an overview of the company's business, recent developments, and a detailed comparison of financial results, liquidity, and accounting policies Overview SKYX Platforms Corp. develops advanced-safe-smart platform technologies with 100 U.S. and global patents, targeting a $500 billion market, while monitoring macroeconomic impacts - SKYX Platforms Corp. specializes in advanced-safe-smart platform technologies for electrical products, offering plug-and-play installation and smart controls via the SkyHome App82 - The company holds 100 U.S. and global patents and has received electrical code approvals (UL, cUL, CE), with inclusion in the NEC Code Book82 - The estimated total addressable market in the United States exceeds $500 billion, with third-generation smart-advanced platforms expected in 20258283 - Monetary and trade policies, including tariffs, interest rates, and supply chain constraints, may adversely affect operating results, though the material impact to date has been limited84 Recent Developments Recent developments include modifying Belami acquisition obligations by issuing $3.12 million in convertible promissory notes and generating $14.2 million from preferred stock issuances - Modified Belami acquisition obligations in March 2024 (amended June 2025), issuing $3.12 million in convertible promissory notes to sellers, bearing 10% annual interest and convertible at $3.00 per share86 - Generated $14.2 million in proceeds from the issuance of Series A and A-1 Preferred Stock between October 2024 and May 202587 - The company continues its ATM offering program, which began in Q2 202387 Results of Operations For the three and six months ended June 30, 2025, the company experienced revenue growth but also increased operating expenses and interest expense, leading to a higher net loss Results of Operations Summary (YoY Comparison) | Metric | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | Change ($) | Change (%) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | Change ($) | Change (%) | |---|---|---|---|---|---|---|---|---| | Revenue | $23,061,655 | $21,446,148 | $1,615,507 | 8% | $43,175,593 | $40,423,969 | $2,751,624 | 7% | | Total expenses | $30,582,768 | $27,681,447 | $2,901,321 | 10% | $58,409,731 | $55,547,615 | $2,862,116 | 5% | | Operating loss | $(7,521,113) | $(6,235,299) | $(1,285,814) | 21% | $(15,234,138) | $(15,123,646) | $(110,492) | (1)% | | Net loss | $(8,826,929) | $(7,462,949) | $(1,363,980) | 18% | $(17,879,057) | $(17,139,150) | $(739,907) | 4% | Revenue Revenue increased by 8% for the three months and 7% for the six months ended June 30, 2025, primarily due to higher unit sales of lighting and heating products - Revenue increased by $1.62 million (8%) for the three months and $2.75 million (7%) for the six months ended June 30, 202589 - The increase is primarily due to an increased number of units of lighting and heating products sold90 - Anticipates higher revenues in 2025, mainly from the sale of advanced and smart products90 Cost of Revenues Cost of revenues increased proportionately with the rise in revenues, reflecting the higher volume of products sold, a trend expected to continue in 2025 - Cost of revenues increased by $1.19 million (8%) for the three months and $2.20 million (8%) for the six months ended June 30, 2025, proportionate to the increase in revenues8991 - The company expects cost of revenues to increase in 2025, commensurate with anticipated revenue growth92 Selling and Marketing Expenses Selling and marketing expenses remained relatively unchanged for the six months ended June 30, 2025, with a decrease in share-based payments offset by increased program expenses - Selling and marketing expenses were relatively unchanged, with a slight decrease of $86,691 (-1%) for the three months and an increase of $213,913 (2%) for the six months ended June 30, 202589 - Changes were primarily due to lower share-based payments for marketing personnel (approx. $1.0 million decrease in Q2 2025) offset by increased sales and marketing program expenses93 General and Administrative Expenses General and administrative expenses increased significantly by 27% for the three months and 3% for the six months ended June 30, 2025, primarily due to a substantial rise in share-based payments - General and administrative expenses increased by $1.79 million (27%) for the three months and $450,521 (3%) for the six months ended June 30, 202589 - The increase is primarily attributed to increased share-based payments of approximately $1.6 million during the second quarter of 202594 Interest Expense Interest expense increased by 6% for the three months and 31% for the six months ended June 30, 2025, mainly due to higher interest charges from increased weighted average debt - Interest expense increased by $78,166 (6%) for the three months and $629,415 (31%) for the six months ended June 30, 202589 - The increase resulted primarily from interest charges related to increased interest-bearing weighted average debt in the first quarter of 202495 Liquidity and Capital Resources As of June 30, 2025, the company had $15.7 million in cash, a $8.5 million working capital deficit, and recurring operating losses, leading to a 'going concern' doubt - Cash, cash equivalents, and restricted cash totaled $15.7 million as of June 30, 202597 - Raised $4.8 million from common stock offerings and $14.2 million from preferred stock issuances during the six months ended June 30, 202597 - The company has a working capital deficit of $8.5 million as of June 30, 2025, and recurring operating losses, leading to a 'going concern' doubt101105 - Management plans to mitigate the going concern risk through continued growth, increased revenues and margins, and additional equity or debt financing106 - Total fixed rate obligations amount to approximately $20.0 million as of June 30, 2025, plus $1.5 million in royalty obligations to GE100 Non-GAAP Financial Measures Management uses EBITDA, as adjusted, as a non-GAAP financial measure to evaluate business performance, which improved slightly to $(6.30 million) in 2025 - EBITDA, as adjusted, is used by management to evaluate business performance, excluding items like interest expense, amortization, impairment, and share-based payments107 EBITDA, as Adjusted (Six Months Ended June 30) | Metric | 2025 | 2024 | |---|---|---| | Net loss | $(17,879,057) | $(17,139,150) | | Share-based payments | $6,653,521 | $6,070,935 | | Interest expense | $2,644,919 | $2,015,504 | | Depreciation, amortization | $2,280,154 | $2,399,350 | | EBITDA, as adjusted | $(6,300,463) | $(6,653,361) | - Adjusted EBITDA improved slightly from $(6.65 million) in 2024 to $(6.30 million) in 2025 for the six-month period108 Critical Accounting Policies This section reiterates the company's critical accounting policies, emphasizing significant management estimates and judgments in fair value measurements, stock-based compensation, and revenue recognition - The preparation of financial statements requires significant management estimates and assumptions, impacting various assets and liabilities110111112 - Fair value of financial instruments is determined using a three-tier hierarchy, prioritizing quoted prices in active markets (Level 1) and using unobservable inputs (Level 3) when necessary114118 - Stock-based compensation is measured at grant-date fair value using the Black-Scholes option pricing model and expensed over the vesting period115116 - Revenue is recognized when control of promised goods or services is transferred to customers, following a five-step model117119 Item 3. Quantitative and Qualitative Disclosures About Market Risk As a smaller reporting company, SKYX Platforms Corp. is not required to provide quantitative and qualitative disclosures about market risk in this report - The Company, as a 'smaller reporting company,' is exempt from providing quantitative and qualitative disclosures about market risk120 Item 4. Controls and Procedures Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025122 - There were no material changes in internal control over financial reporting during the quarter ended June 30, 2025123 PART II. OTHER INFORMATION Item 1. Legal Proceedings The company is not currently a party to any material legal matters or claims, with liabilities for legal proceedings recorded when a loss is probable and estimable - As of the report date, the Company is not a party to any material legal matters or claims126 - Liabilities for legal proceedings are recorded when a loss is probable and reasonably estimable127 Item 1A. Risk Factors This section refers readers to the Annual Report on Form 10-K for risk factors, with an expanded discussion on the potential adverse impact of monetary and trade policies - No material changes to risk factors from the Annual Report on Form 10-K, except for an expanded discussion on monetary and trade policies128 - Monetary and trade policies (tariffs, increases in interest rates, supply and overhead costs, and transportation costs) may adversely affect operating results, and the company may not be able to offset increased costs with increased sales prices129 - The company is exploring alternatives to move production away from China and repatriate manufacturing of certain components to the U.S. to mitigate trade policy impacts129 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds During Q2 2025, the company issued 100,000 shares of common stock, warrants for 64,750 shares, and extended the conversion period for $3.12 million in convertible notes - Issued 100,000 shares of common stock to a contractor and warrants for 64,750 shares to a placement agent during Q2 2025130 - Extended the conversion period for $3.12 million in convertible notes from May 2025 to January 2026130 Issuer Purchases of Equity Securities (Q2 2025) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares That May Yet be Purchased Under the Plans or Programs | |---|---|---|---|---| | April 1-April 30, 2025 | — | $ — | — | — | | May 1-May 31, 2025 | 70,683 | 1.44 | — | — | | June 1-June 30, 2025 | — | — | — | — | | Total | 70,683 | $ 1.44 | — | — | Item 3. Defaults Upon Senior Securities The company reported no defaults upon senior securities - No defaults upon senior securities were reported133 Item 4. Mine Safety Disclosures This item is not applicable to the company's operations - Mine Safety Disclosures are not applicable to the Company134 Item 5. Other Information No directors or executive officers adopted, modified, or terminated any Rule 10b5-1 trading plans or non-Rule 10b5-1 trading arrangements during Q2 2025 - No directors or executive officers adopted, modified, or terminated Rule 10b5-1 trading plans or non-Rule 10b5-1 trading arrangements during Q2 2025135 Item 6. Exhibits This section lists all exhibits filed as part of the Form 10-Q, including various agreements, corporate governance documents, certifications, and XBRL financial statements - The exhibits include Stock Purchase Agreements, Articles of Incorporation and Amendments, Certificates of Designation for Preferred Stock, Bylaws, Securities Purchase Agreements, and Sarbanes-Oxley Act certifications136 - Financial statements for the quarter ended June 30, 2025, are provided in inline XBRL format136 Signatures The report is duly signed on behalf of SKYX Platforms Corp. by its Co-Chief Executive Officers and Chief Financial Officer as of August 12, 2025 - The report was signed by Co-Chief Executive Officers John P. Campi and Leonard J. Sokolow, and Chief Financial Officer Marc-Andre Boisseau on August 12, 2025140