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Smart Home Co. Gains Five Additional Patents

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SKYX has been granted additional patents that raise the value of the company's portfolio. Read more to see why analysts like this company's stock.

SKYX Platforms Corp. (SKYX:NASDAQ) has announced that it has been issued five more patents. Two weeks ago, the company was issued three patents, and according to a recent press release from the company, this "brings the company's intellectual property portfolio to a total of 77 issued and pending patents, 23 of which are issued patents covering SKYX's advanced and smart technologies."

According to the company, it also submitted a safety mandatory application for its ceiling outlet receptacle with the National Electric Code (NEC).

The application was submitted by two leading figures in the electrical and lighting industries, Mark Early, who was the head of the NEC, and Eric Jacobson, who was the President and CEO of the American Lighting Association (ALA).

Chris Temple of The National Investor  said, "SKYX's story is one of those that will be on everyone's lips not many years hence, and this remains very much a ground-floor opportunity to be a part of it as an investor."

In the past 30 years, these two leaders were instrumental in safety code changes for the electrical and lighting industries. 

SKYX also reported that it included supporting data about electrical and lighting safety with its filing.

According to SKYX, "SKYX's code team and management strongly believe that it has met the necessary safety conditions and has significant data for a compelling case for its ceiling outlet receptacle to become a mandatory safety standardization for ceilings in homes and buildings."

A Growing Market

According to Fortune Business Insights, the market for smart home technology was valued at US$80.21 billion as of last year and is projected by Fortune Business to grow by 20.1% to US$338.28 billion by 2030. Fortune Business highlighted the pandemic as a major driver toward smart home technology, as well as a desire for energy-efficient home technology and connected devices. 

Markets and Markets also identified the greater control over homes provided by connected devices as a market driver, as it offers homeowners a larger sense of security. 

A Ground-Floor Opportunity

Chris Temple of The National Investor reviewed the company positively due to its potential to become a fixture of modern homes.

According to Temple, "such breakthrough products/technology, which end up becoming part of all our everyday lives, don't come around that often," and "SKYX's story is one of those that will be on everyone's lips not many years hence, and this remains very much a ground-floor opportunity to be a part of it as an investor."

According to SKYX's investor presentation, there have been several recent developments in the company's favor. It reports that in Q2 of 2023, it took control of an e-commerce platform with 64 different websites under its umbrella, and the company was joined by several notable persons, including Al Weiss, formerly of Disney, Eric Jacobson, formerly of the American Lighting Association, and Khadija Mustafa, formerly of Microsoft.

Ownership and Share Structure

streetwise book logoStreetwise Ownership Overview*


*Share Structure as of 9/5/2023

Reuters provided a breakdown of the ownership and share structure, where management and insiders own 22.22% of the company.

According to Reuters, board member Dov Shiff owns 16.33% with 15.00 million shares, Steven Siegelaub owns 3.50% with 3.21 million shares, CEO John P. Campi owns 1.30% with 1.20 million shares, and governor and director Thomas J. Ridge owns 1.09% with 1.00 million shares.

According to Reuters, institutions own 29.05%.

KRNB Holdings, LLC, owns 9.96% with 9.14 million shares, Motek 7 SQL, LLC, owns 6.66% with 6.12 million shares, Strul Associates LP owns 6.00% with 5.51 million shares, BlackRock Institutional Trust Company, NA, owns 3.03% with 2.78 million shares, The Vanguard Group, Inc., owns 2.33% with 2.14 million shares, and Geode Capital Management, LLC, owns 1.07% with 0.98 million shares.

Reuters reports that there are 91.85 million shares outstanding and 49.01 million free-float traded shares.

The company has a market cap of US$113.44, and trades in the 52-week period between US$1.20 and US$4.17.

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Important Disclosures:

  1. Skyx Platforms Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. Street Smart is conducting a digital media marketing campaign for this article on behalf of [COMPANY], and the company has paid a marketing fee between US$10,000 and US$100,000, of which Street Smart may receive 10-25% as compensation.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Skyx Platforms Corp. 
  3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
  4. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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