SKYX Platforms Corp. (SKYX) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the SkyX Platforms Corp third quarter 2024 earnings call. Today, all participants will be in a listen-only mode. Should you need assistance during today's conference, please signal for a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask your questions. To ask a question, you may press star then one on your telephone keypad. If you would like to withdraw your question, please press star then two. Please note that today's event is being recorded. I would now like to turn the conference over to Ronnie Cohen, SkyX founder. Please go ahead, sir. Good afternoon. Thank you, everyone, for joining us for the third quarter update call. With me today, we have our president, Steve Schmidt. and our co-CEO, Lenny Sokolow, that are going to join on this call. I will start by moving it to Steve Schmidt. I think we have here the cautionary statement first. And after you take a brief look here, our president, Steve Schmidt, will start with the call. Okay, Ronnie, thank you very much. It's great to be with you here this afternoon. So let's get into it. We generated record third quarter revenues of $22.2 million compared to $21.6 million for the third quarter of 2023. Next, prior to the completion of the $11 million equity raise in October 24, as of September 30, 2024, we reported $13 million plus in cash, cash equivalents and restricted cash as compared to 15.6 million as of June 30th, 2024. And in October of 24, we secured 11 million equity preferred stock investment representing $2 per share of common stock with no warrants led by a global Marriott hotel chain developer and owner of over 70 hotels, plus significant insider investing by myself, at $500,000, co-CEO Lenny Sokolow at $2...