ADDED
As of March 18, 2026, the registrant had 133,281,119 shares of common stock, no par value per share, issued and outstanding.
Many of the sixty websites acquired serve as marketing and growth platforms for our smart products and provide several distribution channels, including to retail customers, builders, and professionals.
We are continuing to refine our products and began manufacturing certain advanced and smart products during 2023 and expect to manufacture and make commercially available our Smart Sky Platform within the next few months.
The adoption of the Smart Sky Platform should contribute to the elimination of hazardous incidents in homes and buildings including ladder falls, electric shock and electrocutions, fires, carbon monoxide poisonings, injuries, and deaths.
These patents and patent applications protect various aspects of our technologies.
As of December 31, 2025, we had 73 employees, including 71 full-time employees.
We launched our new universal power plug, our SkyHome App, and our smart universal plug, as well as the smart ceiling fans and lighting fixtures containing such plug, in 2023 and expect to launch our Smart Sky Platform within the next few months.
Raw materials used in our products include copper, aluminum, zinc, steel, acrylonitrile butadiene styrene (ABS) plastic, and wood.
We also rely on third-party suppliers to provide fans, lighting fixtures, and heaters to generate recurring revenues.
We use several suppliers to manufacture SKYX products, some of which have their principal operations in China.
REMOVED
As of March 13, 2025, the registrant had 104,471,445 shares of common stock, no par value per share, issued and outstanding.
We cannot ascertain that there are no substantial doubts about our ability to continue as a going concern, and accordingly, we will not be able to achieve our objectives and continue our operations if we cannot adequately fund our operations.
Many of the 60 websites acquired serve as a marketing and growth platform for our smart products and provide several distribution channels, including to retail customers, builders, and professionals.
The acquisition was completed in accordance with the terms and conditions of the Stock Purchase Agreement, dated February 6, 2023, between the Company and the stockholders of Belami (the Sellers ) (as amended, the Stock Purchase Agreement).
The purchase price paid at the Closing consisted of $7,000,000 in cash (which excluded, among other things, $1.0 million released to the Sellers from escrow) and an aggregate of 1,923,285 shares of the Company s common stock.
At the Closing, $750,000 of the purchase price was deposited into an escrow account, and was held for 12 months following the Closing as a source of recourse for claims the Company may have against the Sellers under the Stock Purchase Agreement.
The Company agreed to pay to the Sellers on the first anniversary of the Closing, or April 28, 2024, (i) $3,117,408 in cash and (ii) a number of shares of common stock equal to $5,560,262 divided by $3.00 per share.
The deferred payment was subject to a working capital adjustment, as provided for in the Stock Purchase Agreement, and o offset for indemnification claims.
On March 29, 2024, the Company and the Sellers entered into a letter agreement modifying certain obligations under the Stock Purchase Agreement.
In connection with the letter agreement, the Company issued convertible promissory notes to each of the Sellers (the Seller Note(s) ) in substitution of an aggregate of $3,117,408 in cash due to the Sellers on the first anniversary of the Closing.