2024 Q4 Form 10-Q Financial Statement

#000149315224044769 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $22.17M
YoY Change 2.55%
Cost Of Revenue $15.33M
YoY Change 2.75%
Gross Profit $6.842M
YoY Change 2.11%
Gross Profit Margin 30.86%
Selling, General & Admin $14.45M
YoY Change 9.27%
% of Gross Profit 211.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $726.6K
YoY Change -32.1%
% of Gross Profit 10.62%
Operating Expenses $14.45M
YoY Change 9.27%
Operating Profit -$7.605M
YoY Change 16.62%
Interest Expense -$1.016M
YoY Change -253.41%
% of Operating Profit
Other Income/Expense, Net -$1.016M
YoY Change 53.41%
Pretax Income -$8.621M
YoY Change 20.07%
Income Tax
% Of Pretax Income
Net Earnings -$8.621M
YoY Change 20.01%
Net Earnings / Revenue -38.89%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.08
COMMON SHARES
Basic Shares Outstanding 102.5M shares 101.6M shares
Diluted Shares Outstanding 103.5M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.17M
YoY Change -38.27%
Cash & Equivalents $10.17M
Short-Term Investments
Other Short-Term Assets $1.350M
YoY Change -60.77%
Inventory $4.538M
Prepaid Expenses $1.041M
Receivables $2.926M
Other Receivables $0.00
Total Short-Term Assets $18.99M
YoY Change -33.01%
LONG-TERM ASSETS
Property, Plant & Equipment $840.0K
YoY Change 41.77%
Goodwill $16.16M
YoY Change 2.26%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.081M
YoY Change 1295.8%
Total Long-Term Assets $45.98M
YoY Change -8.04%
TOTAL ASSETS
Total Short-Term Assets $18.99M
Total Long-Term Assets $45.98M
Total Assets $64.97M
YoY Change -17.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.34M
YoY Change 60.84%
Accrued Expenses $2.447M
YoY Change 10.23%
Deferred Revenue $2.108M
YoY Change 13.66%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $7.865M
YoY Change -43.13%
Total Short-Term Liabilities $30.76M
YoY Change -1.83%
LONG-TERM LIABILITIES
Long-Term Debt $8.231M
YoY Change 24.33%
Other Long-Term Liabilities $22.15M
YoY Change -5.08%
Total Long-Term Liabilities $30.38M
YoY Change 1.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.76M
Total Long-Term Liabilities $30.38M
Total Liabilities $61.14M
YoY Change -0.25%
SHAREHOLDERS EQUITY
Retained Earnings -$171.6M
YoY Change 28.53%
Common Stock $175.4M
YoY Change 16.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.835M
YoY Change
Total Liabilities & Shareholders Equity $64.97M
YoY Change -17.07%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$8.621M
YoY Change 20.01%
Depreciation, Depletion And Amortization $726.6K
YoY Change -32.1%
Cash From Operating Activities -$2.554M
YoY Change -25.96%
INVESTING ACTIVITIES
Capital Expenditures $256.7K
YoY Change 113.94%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$256.7K
YoY Change 113.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 258.3K
YoY Change -86.96%
NET CHANGE
Cash From Operating Activities -2.554M
Cash From Investing Activities -256.7K
Cash From Financing Activities 258.3K
Net Change In Cash -2.553M
YoY Change 60.56%
FREE CASH FLOW
Cash From Operating Activities -$2.554M
Capital Expenditures $256.7K
Free Cash Flow -$2.811M
YoY Change -21.26%

Facts In Submission

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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
3834570 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
17055708 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
3834570 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
17055708 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
3834570 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
17055708 usd
us-gaap Net Income Loss
NetIncomeLoss
-25760456 usd
us-gaap Net Income Loss
NetIncomeLoss
-27412260 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3125903 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2098935 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
933476 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
867572 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
1118750 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1201857 usd
us-gaap Share Based Compensation
ShareBasedCompensation
9035220 usd
us-gaap Share Based Compensation
ShareBasedCompensation
13109135 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1112378 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1675394 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-459289 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
512826 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
318878 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-79224 usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
84463 usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-1200916 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
632832 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-74111 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1636374 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-215743 usd
SKYX Accretion Operating Lease Liabilities
AccretionOperatingLeaseLiabilities
890474 usd
us-gaap Increase Decrease In Royalties Payable
IncreaseDecreaseInRoyaltiesPayable
-400000 usd
SKYX Increase Decrease In Consideration Payable
IncreaseDecreaseInConsiderationPayable
750000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1805631 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2753572 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12951448 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10092363 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
136033 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
7572136 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4206200 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
536014 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
119942 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-536014 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3109961 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4426221 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8723461 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
88426 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
491932 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
120687 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
6197695 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
10350000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2652504 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
5147300 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4105978 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19631924 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9381484 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12649522 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22430253 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9461597 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13048769 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22111119 usd
us-gaap Interest Paid Net
InterestPaidNet
1161304 usd
us-gaap Interest Paid Net
InterestPaidNet
666539 usd
SKYX Substitution Of Consideration Payable To Convertible Notes
SubstitutionOfConsiderationPayableToConvertibleNotes
3117408 usd
SKYX Substition Of Royalty Payable To Convertible Notes
SubstitionOfRoyaltyPayableToConvertibleNotes
1000000 usd
SKYX Assets Acquired Excluding Identifiable Intangible Assets And Goodwill And Cash
AssetsAcquiredExcludingIdentifiableIntangibleAssetsAndGoodwillAndCash
7090094 usd
SKYX Liabilities Assumed And Consideration Payable
LiabilitiesAssumedAndConsiderationPayable
19755903 usd
SKYX Identifiable Intangible Assets And Goodwill
IdentifiableIntangibleAssetsAndGoodwill
19993525 usd
SKYX Debt Discount
DebtDiscount
5569978 usd
SKYX Stock Issued During Value Pursuant To Acquisition
StockIssuedDuringValuePursuantToAcquisition
7327716 usd
SKYX Common Stock Pursuant To Extinguishment Of Debt
CommonStockPursuantToExtinguishmentOfDebt
2040231 usd
SKYX Rightofuse Assets And Operating Lease Liabilities
RightofuseAssetsAndOperatingLeaseLiabilities
662698 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zMY00lCKcWpi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">NOTE 1 <span id="xdx_82C_z50z7itBIGY4">ORGANIZATION AND NATURE OF OPERATIONS</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SKYX Platforms Corp., a corporation (the “Company”), was incorporated in Florida in May 2004.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains offices in Sacramento, California, Johns Creek, Georgia, Miami and Pompano Beach, Florida, New York City, and Guangdong Province, China.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a series of advanced-safe-smart platform technologies. The Company’s first-generation technologies enable light fixtures, ceiling fans and other electrically wired products to be installed safely and plugged-in to a ceiling’s electrical outlet box within seconds, and without the need to touch hazardous wires. The plug and play technology method is a universal power-plug device that has a matching receptacle that is simply connected to the electrical outlet box on the ceiling, enabling a safe and quick plug and play installation of light fixtures and ceiling fans in just seconds. The plug and play power-plug technology eliminates the need of touching hazardous electrical wires while installing light fixtures, ceiling fans and other hard wired electrical products. In recent years, the Company has expanded the capabilities of its power-plug product, to include its second generation advanced-safe and quick universal installation methods, as well as advanced-smart capabilities. The smart features include control of light fixtures and ceiling fans by the SkyHome App, through WIFI, Bluetooth Low Energy and voice control. It allows scheduling, energy savings eco mode, dimming, back-up emergency light, night light, light color changing and much more. The Company’s third-generation technology is an all-in-one safe and smart-advanced platform that is designed to enhance all-around safety and lifestyle of homes and other buildings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since April 2023, the Company also markets home lighting, ceiling fans and other home furnishings from third parties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s liquidity sources include $ <span id="xdx_90E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_pn6n6_c20240930_z0QVRlYnqSel" title="Restricted cash and cash equivalents">13</span> million in cash and cash equivalents, including restricted cash of $<span id="xdx_909_eus-gaap--RestrictedCashEquivalentsNoncurrent_iI_pn5n6_c20240930_zNkfNFMEZjP3" title="Restricted cash, long term">2.9</span> million held for long-term purposes, and $ <span id="xdx_903_ecustom--WorkingCapital_iI_pn5n6_c20240930_z5MSqbtvR1Rf" title="Working capital">11.7</span> million of working capital deficit as of September 30, 2024. The Company has a history of recurring operating losses, and its net cash used in operating activities amounted to $<span id="xdx_90D_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20240101__20240930_zcshMCa7vc14" title="Net cash used in operating activities">13.0</span> million and $<span id="xdx_902_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20230101__20230930_zGaj9d634dS8" title="Net cash used in operating activities">10.1</span> million during the nine months ended September 30, 2024, and 2023, respectively. The Company has also generated net cash provided by financing activities of $<span id="xdx_904_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn5n6_c20240101__20240930_z6bsDbKt5ZMj" title="Net cash provided by financing activities">4.1</span> million and $<span id="xdx_905_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn5n6_c20230101__20230930_zxfxgw46lAPf" title="Net cash provided by financing activities">19.6</span> million during the nine months ended September 30, 2024 and 2023, respectively. Accordingly, the Company’s management cannot ascertain that there is no substantial doubt that it will be able to meet its obligations as they become due within one year after the date that its financial statements are issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management intends to mitigate such conditions by supporting its continued growth, decreasing its cash used in operating activities through increased revenues and increased margins from products sold to large retailers and its internet portals, and to the extent necessary, generate cash provided by financing activities through its at the market (“ATM”) offering or other equity or debt financing means.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
13000000 usd
CY2024Q3 us-gaap Restricted Cash Equivalents Noncurrent
RestrictedCashEquivalentsNoncurrent
2900000 usd
CY2024Q3 SKYX Working Capital
WorkingCapital
11700000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13000000.0 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10100000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4100000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19600000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zlmDBj5wEdre" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such estimates and assumptions impact both assets and liabilities, including but not limited to: net realizable value of accounts receivable and inventory, estimated useful lives and potential impairment of property and equipment, the valuation of intangible assets, estimate of fair value of share based payments and derivative liabilities, estimates of fair value of warrants issued and recorded as debt discount, estimates of tax liabilities and estimates of the probability and potential magnitude of contingent liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future nonconforming events. Accordingly, actual results will differ from estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10172387 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16810983 usd
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
2876382 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
5619270 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13048769 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22430253 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
2800000 usd
CY2024Q3 us-gaap Restricted Investments
RestrictedInvestments
2800000 usd
CY2023Q4 us-gaap Restricted Investments
RestrictedInvestments
2800000 usd
CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
750000 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
2000000.0 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
8584 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
54987 usd
CY2024Q3 SKYX Allowance For Sales Returns
AllowanceForSalesReturns
26393 usd
CY2023Q4 SKYX Allowance For Sales Returns
AllowanceForSalesReturns
182584 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2108351 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1475519 usd
CY2024Q3 us-gaap Deferred Costs Current
DeferredCostsCurrent
308908 usd
CY2023Q4 us-gaap Deferred Costs Current
DeferredCostsCurrent
224445 usd
CY2024Q3 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
2975163 usd
CY2023Q4 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
2230252 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2862949 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2495482 usd
CY2024Q3 us-gaap Inventory Adjustments
InventoryAdjustments
1300000 usd
CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
1300000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
4538112 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
3425734 usd
CY2024Q3 us-gaap Inventory Adjustments
InventoryAdjustments
1300000 usd
CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
1300000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
48979792 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
45113800 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
48979792 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
45113800 shares
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1643876 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1107862 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
803878 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
671275 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
839998 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
436587 usd
us-gaap Depreciation
Depreciation
132603 usd
us-gaap Depreciation
Depreciation
67897 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6831831 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1222690 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5609141 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
9440927 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1299895 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8141032 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1213389 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
642943 usd
CY2024Q3 SKYX Impairment Carrying Value
ImpairmentCarryingValue
1400000 usd
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1100000 usd
CY2024Q3 SKYX Adjustment Of Impairment Carrying Value
AdjustmentOfImpairmentCarryingValue
1400000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2089449 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
689449 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
689449 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
689449 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
689449 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
19851644 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
18266053 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3755726 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4591222 usd
CY2024Q3 SKYX Debt Net Of Unamortized Debt Discount
DebtNetOfUnamortizedDebtDiscount
16095918 usd
CY2023Q4 SKYX Debt Net Of Unamortized Debt Discount
DebtNetOfUnamortizedDebtDiscount
13674831 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
2061236 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
1939353 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2024Q3 SKYX Unamortized Future Option Expense
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us-gaap Business Acquisitions Pro Forma Revenue
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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CY2024Q3 SKYX Rule10b51 Arr Modified Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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