SKYX Platforms Corp
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
SKYX$0.70-5.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| For the three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(9,676,201) | $(7,970,269) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,060,571 | 497,373 |
| Amortization of debt discount | 228,499 | 143,257 |
| Non-cash equity-based compensation expense | 3,295,029 | 2,963,702 |
| Change in operating assets and liabilities: | ||
| Inventory | (351,990) | (178,780) |
| Accounts receivable | (547,032) | — |
| Prepaid expenses and other assets | 91,640 | (45,501) |
| Deferred charges | (21,289) | — |
| Deferred revenues | 140,519 | — |
| Operating lease liabilities | (505,920) | (171,963) |
| Accretion operating lease liabilities | — | 245,009 |
| Royalty obligation | (200,000) | — |
| Accounts payable and accrued expenses | 303,866 | 398,183 |
| Net cash used in operating activities | (6,182,308) | (4,118,989) |
| Cash flows from investing activities: | ||
| Purchase of debt securities | — | (136,033) |
| Purchase of property and equipment | (53,647) | (306) |
| Payment of patent costs and other intangibles | — | (33,559) |
| Net cash used in investing activities | (53,647) | (169,898) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock- offerings | 3,655,755 | — |
| Proceeds from issuance of convertible notes | — | 10,350,000) |
| Principal repayments of notes payable | (60,390) | (893) |
| Net cash provided by financing activities | 3,595,365 | 10,349,107 |
| Change in cash, cash equivalents and restricted cash | (2,640,590) | 6,060,221 |
| Cash, cash equivalents, and restricted cash at beginning of period | 22,430,253 | 9,461,597 |
| Cash, cash equivalents and restricted cash at end of period | $19,789,663 | $15,521,818 |
| Supplementary disclosure of non-cash financing activities: | ||
| Substitution of consideration payable to convertible notes | $3,117,408 | $— |
| Debt discount | — | $5,569,978 |
| Right-of-use assets and operating lease liabilities | 662,698 | — |
| Cash paid during the period for: | ||
| Interest | $641,647 | $711,648 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.