SKYX Platforms Corp.

Good day and welcome to the SkyX Platforms Corp First Quarter 2025 Earnings Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. And to withdraw your question, please press star then two. Before we begin, please note that today's call may contain forward-looking statements based on current expectations and assumptions. These are subject to risk and uncertainties and actual results may differ materially. For a more complete discussion, please refer to our form 10Q for the quarter ending March 31st of 2025, filed with the SEC. Please note this event is being recorded. I would now like to turn the conference over to SkyX's founder and executive chairman, Mr. Ronnie Cohen. Please go ahead, sir.

Thank you. Good afternoon, everyone. Happy to be here again as we continue to progress with our business goals. We will have, and I'll pass it to our president, Steve Schmidt, to start our conference. Steve?

Hey, Ronnie, thank you very much. You know, as I think about the comments I'm about ready to make, I think several things stand out. First of all, we are making great progress, and we're excited about the momentum that we have in the business right now. And we really see significant activity going on that's going to really move us forward to really become something very, very significant. It's an exciting time at SkyX. It really is. So let's jump into kind of our key highlights that we've got. We recorded first quarter sales in 2025 of 20.1 million compared to 18.9 million for the first quarter of 2024, and we continue to grow our market penetration of our advanced and smart platform products in both the U.S. and Canadian markets. This is our fifth consecutive quarter of year-over-year revenue growth, and we hope that that will continue. We expect our products to be in 30,000 U.S. and Canadian homes by the end of the second quarter of 2025. We are progressing with significant projects and orders that will enable us to become cash flow positive in the second half of 2025. Our GNA expenses decreased by 17% compared to the first quarter of 2024, and gross margin and gross profit improved by 4.8% and 2% in the first quarter of 2025, sequentially from the fourth quarter of 2024. Very important regarding our safety code standardization team is receiving support from a new significant leading individual with our government safety organization process for a safety mandatory standardization of our electrical ceiling outlet and more to come. As of March 31st, 2024, we reported $12.3 million in cash, cash equivalents and restricted cash, as compared to $15.5 million as of March 31st, 2024. We recently secured approximately $4 million in additional equity, mainly through preferred stock investments, representing $2 per share of common stock with no warrants, part of a broader financing round totaling approximately $15 million to date, led by the Shader Group, owner and developer of more than 70 hotels worldwide. The $15 million broader round included substantial participation from company insiders, including myself and co-CEOs Lenny Sokolow and John Campy. underscoring their continued confidence in Sky's strategic vision and growth trajectory. As you can see, we are continuing to raise money from strategic investors that understand the depth of our strategic vision and our significant value proposition for builders, insurance companies, and others. As common with companies such as ours, when sales are converted into cash rapidly, often referred to as the Dell Working Capital Model, we leverage our trades payable to finance our operations to enhance our cash position and lower our cost of capital. We strongly believe our product can save insurance companies many billions of dollars annually by reducing fires, ladder falls, electrocutions, We expect once we complete an entire range of variation of our safe plug and play products, we will start being recommended by insurance companies. Our technologies provide opportunities for recurring revenues through interchangeability, upgrades, monitoring, and subscriptions. We are focused on the razor and blade model, and our product range includes our advanced sealing electrical outlet, the razor, and our advanced smart home plug-and-play products, the Blade, including our advanced smart home plug-and-play platform products, lighting, recessed lights, down lights, exit signs, emergency lights, ceiling fans, chandeliers, pendants, holiday kits, you name it, outdoor and indoor lights, along other things. You can think it, we've got it. Our plug-and-play technology enables an installation of lighting, fans, and smart home products in high-rise buildings and hotels within days rather than months. Our total addressable market, our TAM, in the U.S. is roughly $500 billion, with over 42 billion ceiling applications in the U.S. alone. Expected revenue streams from our retail and professional segments include product sales, royalties, licensing subscriptions, monitoring, and the sale of global country rights. We continue to utilize our e-commerce platform of over 60 websites for lighting and home decor to educate, enhance our market penetration to both retail and the professional segments. So as I said, great progress, a lot going on, and significant more information to come. So with that, let me introduce our co-CEO, Lenny Sokolow, who will walk you through the financials. Lenny, all yours. Thank you.