SKYX Platforms Corp
For the period ended Jun 30, 2024. Filed Aug 12, 2024.
View on SEC.govAbout 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.
Jun 30, 2024 · Filed Aug 12, 2024
SKYX$0.70-5.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
| For the six months ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(17,139,150) | $(20,228,484) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 2,399,350 | 1,031,732 |
| Amortization of debt discount | 604,976 | 520,349 |
| Gain on forgiveness of debt | — | (1,201,857) |
| Non-cash equity-based compensation expense | 6,070,935 | 10,638,534 |
| Change in operating assets and liabilities: | ||
| Inventory | (794,841) | (1,114,063) |
| Accounts receivable | 364,662 | 40,551 |
| Prepaid expenses and other assets | (592,920) | 449,358 |
| Deferred charges | (86,234) | 186,900 |
| Deferred revenues | 596,604 | (266,218) |
| Operating lease liabilities | (1,021,684) | (199,417) |
| Accretion operating lease liabilities | — | 798,229 |
| Other assets | — | — |
| Royalty obligation | (400,000) | — |
| Consideration payable | (750,000) | — |
| Accounts payable and accrued expenses | 351,283 | 2,700,311 |
| Net cash used in operating activities | (10,397,019) | (6,644,075) |
| Cash flows from investing activities: | ||
| Purchase of debt securities | — | (136,033) |
| Proceeds from disposition of debt securities | — | 7,572,136 |
| Acquisition, net of cash acquired | — | (4,206,200) |
| Purchase of property and equipment | (279,277) | — |
| Net cash used in investing activities | (279,277) | 3,229,903 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock- offerings | 4,418,721 | 7,826,045 |
| Placement cost | (88,426) | (379,772) |
| Proceeds from line of credit | — | 2,000,000 |
| Proceeds from issuance of convertible notes | — | 10,350,000 |
| Principal repayments of notes payable | (482,585) | (2,147,900) |
| Net cash provided by financing activities | 3,847,710 | 17,648,373 |
| (Decrease) increase in cash, cash equivalents and restricted cash | (6,828,586) | 14,234,201 |
| 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 | $15,601,667 | $23,695,798 |
| Supplementary disclosure of non-cash financing activities: | ||
| Substitution of consideration payable to convertible notes | $3,117,408 | $— |
| Substitution of royalty payable to convertible notes | 1,000,000 | — |
| Common stock issued pursuant to extinguishment of debt | — | 2,040,231 |
| Right-of-use assets and operating lease liabilities | 662,698 | — |
| Preferred stock conversion to common | — | 220,099 |
| Business acquisition: | ||
| Assets acquired excluding identifiable intangible assets and goodwill and cash | — | 7,090,094 |
| Liabilities assumed and consideration payable | — | 19,439,856 |
| Identifiable intangible assets and goodwill, net of cash outlay | — | 19,677,478 |
| Fair value of shares issued pursuant to acquisition | — | 7,327,716 |
| Debt discount | — | 5,569,978 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.