2 weeks Ago
SKYX Platforms Corp. ( NASDAQ: SKYX ) Q3 2024 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Rani Kohen - Founder & Executive Chairman Steve Schmidt - President Lenny Sokolow - Co Chief Executive Officer Conference Call Participants Gerry Sweeney - ROTH Capital Pat McCann - Noble Capital Jack Vander Aarde - Maxim Group Paul Cooney - Benchmark Operator Good day and welcome to the SKYX Platforms Corp. Third Quarter 2024 Earnings Call.
Today, all participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask your questions. [Operator Instructions] Please note that today's event is being recorded.
I would now like to turn the conference over to Rani Kohen, SKYX Founder. Please go ahead sir. Rani Kohen 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. Steve Schmidt Okay, Rani.
Rani, 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 2024 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 30, 2024. And in October of 2024, 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.
