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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): September 11, 2023
SKYX
PLATFORMS CORP.
(Exact
name of Registrant as Specified in its Charter)
Florida |
|
001-41276 |
|
46-3645414 |
(State
or other jurisdiction of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
2855
W. McNab Road
Pompano
Beach, Florida 33069
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (855) 759-7584
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, no par value per share |
|
SKYX |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
On
September 11, 2023, SKYX Platforms Corp. (the “Company” or “SKYX”) issued a press release announcing the filing
of its application with the National Electrical Code (NEC) seeking mandatory safety standardization for its ceiling outlet receptacle
platform. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Forward-looking
Statements
Certain
statements made in this Current Report on Form 8-K are not based on historical facts, but are forward-looking statements. These statements
can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,”
“can,” “could,” “continue,” “estimate,” “expect,” “evaluate,”
“forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,”
“ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,”
“project,” “seek,” “should,” “target” “view,” “case,” “will,”
or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking
statements contain these words.
These
statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and
other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes
to differ materially from those expressed or implied by the forward-looking statements.
Such
forward-looking statements include any statements regarding any of the Company’s products becoming a new standard. The filing of
the Company’s application for a mandatory safety standardization with the National Electrical Code (NEC) does not guarantee approval
within any specific timeframe or at all. The NEC’s approval of the Company’s generic names for its weight-bearing safe plug
& play outlet/receptacle for ceilings as WSCR (Weight-Supporting Ceiling Receptacle) for its universal ceiling outlet and WSAF (Weight-Supporting
Attachment Fitting) for its ceiling plug, or the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers
Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings
do not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which
consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any
other trade or regulatory organization and do not guarantee that any of the Company’s products will become NEC-code mandatory in
any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country,
or municipality, within any specific timeframe or at all. There can be no assurance that any of the Company’s current or future
products or technologies will gain market acceptance or that they will be adopted by any state, country, or municipality, within any
specific timeframe or at all.
Our
estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially
differ from actual demand. Such risks and uncertainties also include statements relating to the Company’s ability to successfully
launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement
of presales, the Company’s efforts and ability to drive the adoption of SKYX’s Smart Platforms into homes, buildings, cruise
ships and communities and adoption by hotels, builders and architects, ability to capture market share, ability to execute on any sales
and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, risks arising from mergers and acquisitions, and
other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic
reports on Form 10-K and Form 10-Q. Readers are cautioned not to put undue reliance on forward-looking statements. Forward-looking statements
speak only as of the date they are made and the Company undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Item 9.01 Financial Statements and Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
SKYX
PLATFORMS CORP. |
|
|
|
Date:
September 11, 2023 |
By:
|
/s/
John P. Campi |
|
Name: |
John
P. Campi |
|
Title: |
Chief
Executive Officer |
Exhibit
99.1
SKYX
Files for a Mandatory Safety Standardization with the National Electrical Code (NEC) for Its Outlet Receptacle for Ceilings in Homes
and Buildings
As
Part of Its Application the Company Has Provided Significant Data Related to Hazardous Incidents with Electrical Wire Installations.
SKYX’s Ceiling Outlet Receptacle Platform Enables a Safer, Fast, and Robust Plug and Play Installation of Light Fixtures, Ceiling
Fans and Smart Home Products to Ceilings
The
Last Significant NEC Mandatory Standardization Approval for Homes and Buildings Was for the GFCI (GFI) Electrical Wall Safety Outlet
for Bathrooms and Kitchens
Miami,
FL / ACCESSWIRE / September 11, 2023 – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a “Sky Technologies”), a
highly disruptive smart platform technology company with 72 issued and pending patents in the U.S and globally and over 60 websites for
lighting and home décor with a mission to make homes and buildings become safe and smart as the new standard, announced today
that it has filed an application for a mandatory safety standardization with the National Electrical Code (NEC) for its ceiling outlet
receptacle platform for homes and buildings.
In
a market of hundreds of millions of installations, a mandatory standardization of SKYX’s ceiling outlet platform, should it occur,
would enable a robust, safer plug and play ceiling installation of light fixtures and ceiling fans without a need to touch electrical
hazardous wires and would significantly reduce fires, ladder falls, electrocutions, injuries, and deaths due to hazardous electrical
wire installations.
SKYX’s
code team is led by Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the
American Lighting Association (ALA). As part of the mandatory application, SKYX’s code team has submitted significant supporting
data regarding hazardous incidents that occur due to electrical wire installations. The data includes fires, ladder falls, electrocutions,
injuries, and deaths caused due to hazardous wire installations.
After
years of rigorous standardization progress, SKYX’s management and code team strongly believe that it has met the necessary safety
conditions and has significant hazardous data support for a compelling case for its ceiling outlet receptacle to become a mandatory safety
standardization for ceilings in homes and buildings.
In
the past several years the Company’s product was already voted into 10 segments in the NEC and since 2022 it has succeeded in achieving
major additional necessary milestones for mandatory standardization, including voting approvals by U.S. standardization organizations
ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturing Association), as well as a vote approval
by the NEC for the generic name WSCR (Weight Support Ceiling Receptacle) for its ceiling outlet receptacle.
The
last significant NEC mandatory standardization approval for homes and buildings was for the GFCI (GFI) electrical wall safety outlet
for Bathrooms and Kitchens to reduce and prevent electrocutions.
The
Company’s application included data regarding hazardous incidents from U.S. governmental agencies such as the U.S. Census Bureau,
NFPA, OSHA, NIOSH, CPSC, and CDC.
An
NFPA Report No. USS117 published in February 2022, “Home Fires Caused by Electrical Distribution and Lighting Equipment”
provides evidence that not enough emphasis is placed on incorrect installation of lighting. The report noted that fires involving electrical
distribution and lighting equipment caused an estimated average of 430 deaths per year in 2015–2019. Specifically, wiring, and
related equipment accounted for 68% of these fires, 60% of the property damage and 42% of the civilian deaths and 53% of injuries.
SKYX’s
lead code team member Mark Earley, former head of the National Electrical Code (NEC) and former Chief Electrical Engineer of NFPA, said:
“I truly believe that we have made a compelling case for a mandatory requirement for plug-and-play installations using the safe
and robust weight supporting ceiling receptacle. We have gathered a significant amount of data on incidents involving lighting fixtures
and ceiling fans using the existing wiring methods. This data includes a substantial number of hazardous incidents that include deaths
and or injuries from fires related to wiring, falls from ladders, fixtures or fans that fell on individuals, including young children
among other incidents. Many of these accidents could have been prevented using this safe and robust plug-and-play installation method.
It is about time that the existing wiring installation method be replaced by a safe, robust method that reflects today’s advanced
but litigious world”.
SKYX’s
lead code team member Eric Jacobson, former President and CEO of the American Lighting Association (ALA), said: “I am highly confident
that our application to the NEC has all the necessary safety data aspects and information to support our case for a mandatory safety
standardization approval. As part of our application, we intend to share our product for all manufacturers to benefit. As a world leading
country, it is about time that we make our consumers, electricians, handymen, and business owners safer and more advanced by moving away
from the old hazardous wiring installation method to a safer, and fast plug and play installation method.”
About
SKYX Platforms Corp.
As
electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the
new standard. SKYX Platforms Corp. (NASDAQ: SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over
72 U.S. and global patents and patent pending applications as well as over 60 lighting and home décor websites. Our technologies
place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We
believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information,
please visit our website at https://skyplug.com/ or follow us on LinkedIn.
Forward-looking
Statements
Certain
statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be
identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,”
“could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,”
“guidance,” “intend,” “likely,” “may,” “might,” “objective,”
“ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,”
“project,” “seek,” “should,” “target” “view,” “case,” “will,”
or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking
statements contain these words.
These
statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and
other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes
to differ materially from those expressed or implied by the forward-looking statements.
Such
forward-looking statements include any statements regarding any of the Company’s products becoming a new standard. The filing of
the Company’s application for a mandatory safety standardization with the National Electrical Code (NEC) does not guarantee approval
within any specific timeframe or at all. The NEC’s approval of the Company’s generic names for its weight-bearing safe plug
& play outlet/receptacle for ceilings as WSCR (Weight-Supporting Ceiling Receptacle) for its universal ceiling outlet and WSAF (Weight-Supporting
Attachment Fitting) for its ceiling plug, or the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers
Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings
do not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which
consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any
other trade or regulatory organization and do not guarantee that any of the Company’s products will become NEC-code mandatory in
any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country,
or municipality, within any specific timeframe or at all. There can be no assurance that any of the Company’s current or future
products or technologies will gain market acceptance or that they will be adopted by any state, country, or municipality, within any
specific timeframe or at all.
Our
estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially
differ from actual demand. Such risks and uncertainties also include statements relating to the Company’s ability to successfully
launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement
of presales, the Company’s efforts and ability to drive the adoption of SKYX’s Smart Platforms into homes, buildings, cruise
ships and communities and adoption by hotels, builders and architects, ability to capture market share, ability to execute on any sales
and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, risks arising from mergers and acquisitions, and
other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic
reports on Form 10-K and Form 10-Q. Readers are cautioned not to put undue reliance on forward-looking statements. Forward-looking statements
speak only as of the date they are made and the Company undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor
Relations Contact:
Lucas
A. Zimmerman
MZ
North America
(949)
259-4987
SKYX@mzgroup.us
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