Skyx Platforms elects board and ratifies auditor at annual meeting

SKYX Platforms Corp. (NASDAQ:SKYX), a technology company with a market capitalization of $110 million and currently showing a WEAK financial health score according to InvestingPro, held its 2025 Annual Meeting of Stockholders on Wednesday at its headquarters in Pompano Beach, Florida, according to a statement based on a recent SEC filing.

During the meeting, shareholders elected Rani R. Kohen, Nancy DiMattia, Gary N. Golden, Efrat L. Greenstein Brayer, Thomas J. Ridge, Dov Shiff, and Leonard J. Sokolow to serve as directors until the next annual meeting or until successors are elected and qualified. Voting results for each nominee showed at least 25.1 million votes in favor and between 291,589 and 871,399 votes withheld, with 25.9 million broker non-votes recorded for each candidate. The board faces significant challenges, as InvestingPro data shows the company is quickly burning through cash with short-term obligations exceeding liquid assets.

Shareholders also ratified the appointment of M&K CPAS, PLLC as SKYX Platforms’ independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote count for this proposal was 51,035,872 in favor, 860,184 against, and 74,870 abstaining.

Additionally, the compensation of the company’s named executive officers was approved on an advisory, non-binding basis. This measure received 25,287,709 votes in favor, 660,715 against, and 91,759 abstentions, along with 25,930,743 broker non-votes.

SKYX Platforms Corp. is listed on The Nasdaq Stock Market LLC under the ticker SKYX. All information is based on a press release statement included in the company’s SEC filing.

In other recent news, SKYX Platforms Corp. reported its Q1 2025 earnings, revealing it met its earnings per share (EPS) forecast of -$0.09 but missed revenue expectations, bringing in $20.1 million against a projected $21.15 million. Despite the revenue shortfall, the company noted improvements in gross margin and cash flow efficiency. SKYX Platforms is set to launch a smart ceiling fan-heater combo in Q3 2025, targeting both residential and commercial markets, with manufacturing already underway. The firm also announced its inclusion in the Russell 2000 and 3000 indexes, which could enhance investor awareness and institutional ownership. Additionally, SKYX Platforms received eight new patents across various global markets, bolstering its intellectual property portfolio. In a significant development, SKYX has partnered with SG Holdings to create a $3 billion mixed-use smart city in Miami, integrating its smart home technologies into the project. The company aims to achieve cash-flow positive operations by late 2025, supported by strategic partnerships and product innovation.

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