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SKYX Platforms Corp

For the period ended Mar 31, 2024. Filed May 14, 2024.

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About this filing

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$0.73+6.8%Stored close · as of Nov 6, 2026

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Cautionary Note Regarding Forward Looking Statements

This Quarterly Report on Form 10-Q (this “Form 10-Q”) of SKYX Platforms Corp. (the “Company,” “we,” “us,” or “our”) contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements other than statements of historical facts contained in this Form 10-Q, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, outlook, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “aim,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors, many of which have outcomes that are difficult to predict and may be outside our control, that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this Form 10-Q include, but are not limited to, statements about:

●our ability to successfully launch, develop additional features and achieve market acceptance of our smart products and technologies, access and integrate our products and technologies with third-party platforms or technologies, respond to rapidly changing technology and customer demands, and compete in our industry;
●our ability to successfully manage and grow the operations of Belami, Inc. (“Belami”) with our business;
●our ability to expand and successfully manage our operations, including managing our business transformation in connection with evolving our business strategy to focus on smart products and technologies and integrating new lines of business;
●our ability to raise additional financing to support and continue our operations as needed;
●our ability to comply with the terms of, and timely repay, our current debt financing;
●our reliance on a limited number of third-party manufacturers and suppliers and our ability to successfully reduce our production costs;
●our potential dependence upon a limited number of customers and/or on contracts awarded through competitive bidding processes;
●any downturn in the cyclical industries in which our customers operate;
●our ability to acquire other businesses, license rights, form alliances or dispose of operations when desired;
●our ability to comply with regulations relating to applicable quality standards;
●our ability to maintain, protect and enhance our intellectual property and retain rights to use intellectual property owned by third parties;
●the potential outcome of any legal proceedings;
●compliance with various tax laws and regulations, including income and sale tax;
●our ability to successfully sell and distribute our products and technologies;
●our ability to attract and retain key executives and qualified personnel;
●guidance provided by management, which may differ from our actual operating results;
●our ability to successfully manage our planned development and expansion, including the additional costs of being a public company;
●Our estimated total addressable market;
●our ability to maintain effective internal control over financial reporting and disclosure controls and procedures;
●the potential impact of unstable market and economic conditions on our business, financial condition and stock price, including the effects of governmental regulations, geopolitical conflicts, including the Israel-Hamas war and potentially deteriorating relationships with China, inflation, labor shortages, supply chain constraints and shortages, including availability of affordable electronic microchips, instability in the global banking system and the possibility of an economic recession;
●the potential impact of cybersecurity breaches or disruptions to our information systems, including our cloud-based infrastructure;
●the potential impact of natural disasters and other catastrophic events;
●risks related to ownership of our common stock; and
●the potential impact of anti-takeover and director and officer liability provisions in our charter documents and under Florida law.

These forward-looking statements represent our intentions, plans, expectations, assumptions, and beliefs about future events and are subject to risks, uncertainties, and other factors, including unpredictable or unanticipated factors that we have not discussed in this Form 10-Q. Investors should refer to the heading “Part I. Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 for a discussion of other important factors, many of which are outside of our control, that may cause actual results to differ materially from those expressed or implied by the forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this Form 10-Q will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. Considering the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this Form 10-Q represent our views as of the date of this Form 10-Q. We anticipate that subsequent events and developments will cause our views to change; however, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this Form 10-Q.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.