SKYX Platforms SEC Filings

SKYX Platforms Corp. (SKYX) reported insider equity transactions by its Chief Operations Officer. On November 14, 2025, the officer exercised stock options to acquire 165,000 shares of common stock at $0.60 per share and 83,000 shares at $1.20 per share. On the same date, 110,949 shares were surrendered in connection with the option exercises at a price of $1.79 per share. After these transactions, the officer beneficially owned 307,321 shares of SKYX common stock, including 25,000 restricted stock units scheduled to vest on August 4, 2026. The filing also lists remaining stock options with various exercise prices and expiration dates held directly by the officer.

SKYX Platforms Corp. filed a Rule 424(b)(3) prospectus covering the resale, from time to time, of up to 14,719,841 shares of common stock by selling securityholders. The total includes up to 14,700,001 shares issuable upon conversion of subordinated secured convertible notes at a $1.20 conversion price, plus up to 19,840 shares issued or issuable under a private placement. The company will not receive any proceeds from these sales.

The registration is pursuant to contractual registration rights. Conversions are subject to beneficial ownership limits of 4.99% or 9.99% (at each holder’s election) and aggregate issuance caps of 19.99% under the related purchase agreements unless stockholder approval is obtained. Examples include Strul Associates Limited Partnership 5,500,000 and the David S. Nagelberg 2003 Revocable Trust 8,529,167, each shown as a maximum offered amount for resale.

Shares outstanding were 113,523,361 as of October 22, 2025; this is a baseline figure, not the amount being offered. SKYX common stock trades on Nasdaq under “SKYX.”

SKYX Platforms Corp. filed an 8-K stating it furnished an earnings press release for the quarter ended September 30, 2025. The press release is attached as Exhibit 99.1 dated November 12, 2025 and is incorporated by reference.

The company notes the information in Item 2.02 and Exhibit 99.1 is furnished and not deemed filed under the Exchange Act. The filing was signed by CEO Leonard J. Sokolow. SKYX’s common stock trades on Nasdaq under ticker SKYX.

SKYX Platforms Corp. reported Q3 results with modest top-line growth but continued losses. Revenue reached $23.9 million for the quarter (up 7.8% year over year) and $67.1 million for the nine months (up 7.1%). Quarterly net loss was $7.6 million and nine‑month net loss was $25.5 million, with Q3 loss per share of $0.07 and nine‑month loss per share of $0.24.

At September 30, 2025, cash, cash equivalents and restricted cash totaled $9.9 million, and stockholders’ equity was a deficit of $3.8 million. The company reported a working capital deficit of $8.7 million and net cash used in operations of $11.3 million for the nine months. Convertible notes were $18.36 million (principal), with total debt of $18.99 million.

Management disclosed substantial doubt about the company’s ability to meet obligations within one year and outlined plans to pursue higher‑margin sales and potential financing, including ATM and debt. As of October 31, 2025, 113,749,372 common shares were outstanding. Preferred activity included Series A‑1 cumulative dividends (8%) and 374,000 Series A‑1 shares outstanding.

SKYX Platforms Corp. filed Amendment No. 1 to a shelf registration to register the resale of up to 14,719,841 shares of common stock by selling securityholders. The shares consist of up to 14,700,001 shares issuable upon conversion of $15.6 million of outstanding subordinated secured convertible notes at a $1.20 conversion price, plus any accrued and unpaid interest that may be paid in shares, and 19,840 shares issued or issuable in a private placement.

The company states it will not receive any proceeds from sales by selling securityholders and will bear registration expenses. The notes include beneficial ownership limits of 4.99% or 9.99% and a 19.99% cap on aggregate issuances under the related purchase agreements unless stockholder approval is obtained. An explanatory note indicates the amendment includes language under Rule 473(b) for automatic effectiveness 20 days after filing. SKYX trades on Nasdaq as “SKYX”; the closing price was $1.42 on October 22, 2025.

SKYX Platforms Corp. restructured its debt and raised new capital. The company extended the maturity of four outstanding convertible promissory notes with an aggregate principal balance of $7.6 million by five years to October 17, 2030, and secured $2 million of additional capital from an existing lead investor. Following these actions, the company will have a total of $9.6 million in five-year subordinated secured convertible promissory notes, comprised of a new $8.9 million note and amendments to two notes totaling $700,000. The incremental proceeds are designated for general working capital.

The notes are convertible at $1.20 per share, bear 7% interest payable quarterly in cash and an additional 3% payable quarterly in cash or stock upon repayment or conversion, for a total accrual of 10% per annum. The transaction includes customary registration rights and beneficial ownership limits that cap conversions at 4.99% or 9.99% at the holder’s election. The issuance and amendments were conducted as a private placement under Section 4(a)(2) and Regulation D Rule 506.

Securities reporting shows Steven Mark Schmidt, President and director of SKYX Platforms Corp. (SKYX), reported transactions dated 09/30/2025. He directed the issuer to withhold 5,930 common shares to satisfy tax withholding on vested restricted stock units, reducing his direct common stock by that amount to 484,418 shares held following the transaction. The filing also discloses outstanding derivative holdings: 100,000 options at $12.00 (exercisable 06/01/2026), 250,000 options at $0.90 (expiring 09/15/2029), and 100,000 options at $1.09 (expiring 12/15/2029). He also holds conversion rights to Preferred A-1 convertible into 416,667 common shares and 210,000 RSUs with specified vesting schedules.