SKYX Platforms Corp. Files Amendment No. 1 to Annual Report on Form 10-K/A

Key Points from the Filing

• Amendment Reason: The company has filed Amendment No. 1 to its 2025 Annual Report on Form 10-K solely to correct a typographical error in the date of the Report of Independent Registered Public Accounting Firm. No changes or revisions have been made to the financial statements or any other information in Item 8 of the original filing.
• Financial Statements: The report includes audited consolidated financial statements for the years ended December 31, 2025 and 2024, with all relevant schedules and notes.
• Exhibits and Certifications: The amendment includes updated certifications from the principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as well as an updated Consent of Independent Registered Public Accounting Firm.
• SEC Compliance: SKYX Platforms Corp. confirms that it is not a well-known seasoned issuer, is not a shell company, and has filed all required reports and interactive data files during the preceding 12 months.
• Going Concern Highlight: The auditor’s report notes a critical audit matter regarding the company’s ability to continue as a going concern, due to net losses, accumulated deficit, and negative cash flows from operations for the year. Management’s estimates of future revenues and expenses are highlighted as significant judgements.
• Shareholder Impact: No corrections to previously issued financial statements or restatements requiring recovery analysis of incentive-based compensation for executive officers were made. All required financial statement schedules have been omitted as the information is either not applicable or already included in the financial statements.
• Common Stock Information: The company’s common stock (trading symbol: SKYX) is listed on The Nasdaq Stock Market LLC. No securities are registered under Section 12(g) of the Exchange Act.
• Summary of Financial Position: As of December 31, 2025, SKYX Platforms Corp. reported total assets of \$65,887,362 and long-term assets of \$11,314,318. The consolidated balance sheets, statements of operations, cash flows, and equity are available within the report.
• Exhibit Index: The filing includes a comprehensive index of exhibits, including articles of incorporation, amendments, bylaws, stock incentive plans, warrants, promissory notes, agreements, and insider trading policy. Many exhibits reference previous filings, and certain exhibits or schedules are omitted in accordance with SEC regulations due to confidentiality or immateriality.

Important Shareholder Considerations

• Going Concern Risk: The auditor’s identification of going concern is a price-sensitive issue. Investors should be aware that the company’s ongoing viability is dependent on management’s estimates and plans to mitigate losses and negative cash flows. This is a significant risk factor that could affect share value.
• No Financial Restatements or Corrections: The amendment does not include corrections to previous financial statements or restatements, thus no immediate risk of regulatory recovery actions for incentive-based compensation.
• Compliance and Reporting Status: The company remains compliant with SEC reporting requirements and has submitted all necessary interactive data files, which supports transparency for investors.
• Exhibit Changes: The updated certifications and consent of the independent auditor are procedural and do not represent substantive changes to financial results or operations.
• Typographical Correction Only: The amendment is administrative in nature and does not reflect any operational, financial, or strategic changes that would impact valuation or shareholder interests, aside from the ongoing concern highlighted.

Potential Price-Sensitive News

The most noteworthy aspect for investors is the auditor’s explicit identification of a “going concern” issue. This signals that, due to ongoing losses and negative cash flows, there is substantial doubt about the company’s ability to continue as a viable entity without additional capital, improved financial performance, or successful execution of management’s mitigation plans. This assessment can impact investor confidence and share price.

Otherwise, the amendment is not substantive or newsworthy from a financial or operational standpoint, as it does not revise any financial data or introduce new material information.

Disclaimer

This article is based on public filings by SKYX Platforms Corp. and is intended for informational purposes only. It does not constitute investment advice. Investors should conduct their own due diligence and consult with financial advisors before making investment decisions. The presence of a going concern warning should be carefully considered, as it may materially affect the company’s future performance and share value.

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