Day: March 8, 2022

 

New Categories Include Achievement in Social Media and Thought Leadership

FAIRFAX, Va., March 08, 2022 (GLOBE NEWSWIRE) — The Stevie Awards are now accepting nominations for The 19th Annual International Business Awards®, the world’s premier business awards competition, which attracts nominations from organizations in more than 60 nations and territories each year.

All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – may submit nominations to The International Business Awards. The early-bird entry deadline, with reduced entry fees, is 6 April. The final entry deadline is 11 May, but late entries will be accepted through 15 June with payment of a late fee. Entry details are available at www.StevieAwards.com/IBA.

Juries featuring more than 150 executives around the world will determine the Gold, Silver, and Bronze Stevie Award winners. Winners will be announced on 15 August and celebrated at a gala banquet in Europe in October.

The International Business Awards recognize achievement in every facet of the workplace. Categories include:

• Management Awards
• COVID-19 Response Awards
• Entrepreneur of the Year Awards
• Company of the Year Awards
• Customer Service Awards
• Human Resources Awards
• Information Technology Awards
• Marketing Awards
• New Product Awards
• Public Relations Awards
• Web Site, App, Event, Video and other media awards
• Social Media Awards
• Thought Leadership Awards

There are many new and revised features of The International Business Awards for 2022:

• Nine new event awards categories, ten new innovation in social media categories, three thought leadership categories, three video categories, three mobile site & app categories, two new product categories, and categories for Achievement in Diversity & Inclusion and Influencer Marketing Campaign of the Year
• Nominations that won in the 2021 IBAs may be resubmitted for consideration in the 2022 IBAs. If they have been updated with recent achievements, they may be submitted to the same categories in which they won. If they have not been updated, they must be submitted to categories different from those in which they won.
• In many of the category groups and categories you may now submit a video of up to five (5) minutes in length, illustrating the nominee’s achievements, instead of the traditional Stevie Awards written essay.

Stevie Award winners in the 2021 IBAs included Ayala Land (Philippines), Cvent (USA), Ernst & Young Global Limited (UK), Etihad Airways Group (UAE), IBM (USA), Halkbank (Turkey), HP Inc. (USA), Google (USA), Nestle India (India), PJ Lhuillier, Inc (Philippines), Rufus & Coco (Australia), Philip Morris International (Switzerland), Polish Railway Lines (Poland), SAP SE (Germany), and many more.

About the Stevie Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Contact:
Nina Moore
+1 (703) 547-8389
Nina@StevieAwards.com

 

 

Closes Successful $23.1 Million IPO and Commences Trading on the Nasdaq

 MIAMI, FL / ACCESSWIRE / March 8, 2022 /SQL Technologies Corp. (NASDAQ:SKYX) (“Sky Technologies” or “the Company”), a Company significantly enhancing safety in homes and buildings as well as smart home lifestyle, with highly disruptive smart platform technologies and over 60 issued and pending patents globally, today reported its financial results for the fourth quarter ended December 31, 2021.

Fourth Quarter 2021 and Subsequent Operational Highlights:

	●	On February 10, 2022, successfully completed its upsized $23.1 million initial public offering (IPO) on the Nasdaq Capital Market, selling 1,650,000 shares of common stock to the public at $14 per share.
	●	Announced the upcoming launch of the new universal SkyPlug, the SkyHome App and the smart connected SkyPlug, as well as an accompanying line of GE-branded smart ceiling fans and lighting fixtures, in the first half of 2022.
	●	Positioning for the public launch of Sky Platform, the Company’s all-in-one smart home solution, in the second half of 2022.
	●	As of December 31, 2021, the Company’s cash and cash equivalents were approximately $10.4 million, which excludes net proceeds from its February 2022 IPO.

The full text of the Company’s 2021 Annual Report on Form 10-K was filed with the SEC on March 8, 2022 and can be found here.

Management Commentary

“The fourth quarter of 2021 represented a transformational period for Sky Technologies, building the foundation for our transition to a public company – further accelerated by the infusion of new capital from our IPO to expedite our commercialization pathway,” said Rani Kohen, Executive Chairman of Sky Technologies. “We believe our Nasdaq listing will help elevate the Company’s public profile, expand our shareholder base, improve liquidity and enhance shareholder value. The net proceeds to Sky Technologies from the offering amounted to $20 million.

“Launch of our next-generation SkyPlug and Sky Platform product lines are moving ahead, and we anticipate coming to market with both products this year. The SkyPlug enables consumers to install plug-and-play smart home fixtures into a receptacle quickly and safely without the need for a professional installer, and the Sky Platform is an all-in-one smart home solution, integrating several smart home & safety features such as a motion sensor, security camera and Wi-Fi extender. We believe our breakthrough platform technology has the ability to become the standard for smart home and office fixtures, with countless applications and potential addressable installations in the billions globally.

“Moving into 2022 we expect to launch our new universal SkyPlug, our SkyHome App, and our smart SkyPlug, as well as an accompanying line of smart ceiling fans and lighting fixtures leveraging GE-branding through our branding and licensing partnership with General Electric, in the first half of 2022. This will be followed by the launch of our widely anticipated, all-in-one Sky Platform in the second half of 2022. In anticipation, we are ramping our go-to-market strategy to include public relations and marketing campaigns that emphasize education of our products and how they can be used to create safer and smarter homes. We expect to provide additional announcements on our product launch timeline in the coming months – helping to create sustainable, long-term value for our shareholders.”

FY 2021 Financial Results

Selling, general and administrative expenses in 2021 were $5.1 million, as compared to $8.7 million for the prior year.

Net loss in 2021 decreased to $5.9 million, as compared to a net loss of $9.4 million for the prior year.

Cash and cash equivalents totaled $10.4 million as of December 31, 2021, excluding net proceeds from its IPO completed in February 2022.

There will be no earnings call related to the Company’s 2021 annual report.

About SQL Technologies 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 standard.

SQL Technologies Corp. (NASDAQ: SKYX) d/b/a Sky Technologies has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. 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

Cautionary Statement Concerning Forward-Looking Statements

 This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements other than statements of historical facts contained in this press release, including statements regarding the Company’s strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, outlook, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “aim,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors, many of which have been, and may further be, exacerbated by the COVID-19 pandemic, that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.

Forward-looking statements in this press release include, but are not limited to, statements about: the Company’s ability to successfully launch, develop additional features and achieve market acceptance of its smart products and technologies, access and integrate its products and technologies with third-party platforms or technologies, respond to rapidly changing technology and customer demands, and compete in its industry; the Company’s financial performance and liquidity, including the Company’s ability to successfully generate sufficient revenue to support its operations; the Company’s ability to expand, operate and successfully manage its operations, including managing its business transformation in connection with evolving its business strategy to focus on smart products and technologies; the Company’s ability to raise additional financing to support its operations as needed; the Company’s ability to comply with the terms of, and timely repay, its current debt financing; the impact of the COVID-19 pandemic on the Company’s business and operations; the Company’s reliance on a limited number of third-party manufacturers and suppliers and its ability to successfully reduce its production costs; the Company’s potential dependence upon a limited number of customers and/or on contracts awarded through competitive bidding processes; any downturn in the cyclical industries in which the Company’s customers operate; the Company’s ability to acquire other businesses, license rights, form alliances or dispose of operations when desired; the Company’s ability to comply with regulations relating to applicable quality standards; the Company’s ability to maintain its license agreement with General Electric (GE); the Company’s ability to maintain, protect and enhance its intellectual property; the potential outcome of any legal proceedings; the Company’s ability to successfully sell and distribute its products and technologies; the Company’s ability to retain key executives and qualified personnel; the Company’s ability to successfully manage its planned development and expansion, including the additional costs of being a public company; the Company’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; the potential impact of unstable market and economic conditions on the Company’s business, financial condition and stock price; the potential impact of cybersecurity breaches or disruptions to the Company’s information systems, including its cloud-based infrastructure; the potential impact of natural disasters and other catastrophic events, such as the COVID-19 pandemic; risks related to ownership of the Company’s common stock; and the potential impact of anti-takeover and director and officer liability provisions in the Company’s charter documents and under Florida law. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the Securities and Exchange Commission, including the section of the Annual Report on Form 10-K for its 2021 fiscal year titled “Risk Factors” and the “Risk Factors” section in its prospectus dated February 10, 2022. As a result of these factors, the Company cannot assure you that its forward-looking statements will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all.

The forward-looking statements in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change; however, the Company undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws. You should, therefore, not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this press release.

Investor Relations Contact:

Lucas A. Zimmerman

MZ North America

(949) 259-4987

SKYX@mzgroup.us

SQL Technologies Corp. and Subsidiary

Unaudited Consolidated Balance Sheets

		December 31, 2021				December 31, 2020
Assets
Current assets:
Cash and cash equivalents		$	10,426,249			$	2,308,871
Accounts receivable, net			115				1,543
Inventory			918,651				918,651
Prepaid expenses			40,903				—
Total current assets			11,385,918				3,229,065
Other assets:
Furniture and equipment, net			25,710				67,735
Patents, net			540,033				403,092
Other assets			2,174				2,174
Total other assets			567,917				473,001
Total Assets		$	11,953,835			$	3,702,066
Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable		$	507,250			$	1,008,051
Notes payable, current			404,648				344,032
Accrued expenses			522,086				358,621
							—
GE royalty obligation			1,200,000				500,000
Total current liabilities			2,633,984				2,210,704
Long term liabilities:
Notes payable			5,492,572				5,286,642
Convertible notes			1,300,000				1,250,000
GE royalty obligation			2,638,000				3,838,000
Total long-term liabilities			9,430,572				10,374,642
Total liabilities			12,064,556				12,585,346
Commitments and Contingent Liabilities:
Redeemable preferred stock – subject to redemption: $0 par value; 20,000,000 shares authorized; 13,256,936 and 13,456,936 shares issued and outstanding at December 31, 2021 and December 31, 2020			3,314,233				3,364,233
Stockholders’ Deficit:
Common stock: $0 par value, 500,000,000 shares authorized; 66,295,288 and 64,515,231 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively			57,356,139				34,353,592
Common stock to be issued			–				8,088,474
Additional paid-in capital			13,524,247				13,755,891
Accumulated deficit			(74,296,898	)			(68,410,028	)
Total stockholders’ deficit			(3,314,512	)			(12,212,071	)
Non-controlling interest			(35,442	)			(35,442	)
Total deficit			(3,349,954	)			(12,247,513	)
Total Liabilities and Stockholders’ Deficit		$	11,953,835			$	3,702,066

SQL Technologies Corp. and Subsidiary

Unaudited Consolidated Statements of Operations

 

		For the Year Ended December 31,
		2021				2020
Revenue		$	43,109			$	258,376
Cost of revenues			(149,286	)			(503,033	)
Gross (loss)			(106,177	)			(244,657	)
Selling, general and administrative expenses			5,081,906				8,741,320
Loss from operations			(5,188,083	)			(8,985,977	)
Other income / (expense)
Interest expense			(560,418	)			(515,515	)
Other income, Loan forgiveness			10,000				257,468
Gain on exchange			8,051				408
Interest income			36				1,511
Total other income (expense), net			(542,331	)			(256,128	)
Net loss including noncontrolling interest			(5,730,414	)			(9,242,105	)
							—
Preferred dividends			129,456				130,206
Net loss attributed to common shareholders		$	(5,859,870	)		$	(9,372,311	)
Net loss per share – basic and diluted		$	(0.09	)		$	(0.15	)
Weighted average number of common shares outstanding during the year – basic and diluted			64,943,703				62,754,177

SQL Technologies Corp. and Subsidiary

Unaudited Consolidated Statements of Cash Flows

		For the Year Ended December 31,
		2021				2020
Cash flows from operating activities:
Net loss attributable to SQL Technologies		$	(5,730,414	)		$	(9,242,105	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense			42,025				74,277
Amortization of patent			42,262				32,032
(Other income), Loan forgiveness			(10,000	)			(257,468	)
Non-cash equity-based compensation expense			464,953				5,188,428
Non-cash equity-based compensation expense, related party			998,080
Change in operating assets and liabilities:
Accounts receivable			1,428				417,994
Prepaid expenses			(40,902	)			5,629
Inventory			–				325,357
Right-to-use assets			–				54,112
Other assets			–				16,080
Royalty obligation			(500,000	)			(87,508	)
Lease, current							(53,210	)
Accounts payable			(58,651	)			158,468
Accrued expenses			88,464				358,621
Net cash used in operating activities			(4,627,755	)			(3,129,293	)
Cash flows from investing activities:
Purchase of property and equipment			–				(15,336	)
Payment of patent costs			(179,203	)			(94,540	)
Net cash used in investing activities			(179,203	)			(109,876	)
Cash flows from financing activities:
Proceeds from common stock issuance			13,039,396				100,009
Proceeds from exercise of warrants			–				2,025,000
Proceeds from exercise of options			130,000				–
Proceeds from – PPP1 notes payable			178,235				279,500
Proceeds from – EIDL notes payable			–				150,000
Proceeds from issuance of convertible notes			50,000				1,250,000
Dividends paid			(129,456	)			(130,206	)
Principal repayments of – PPP1 note payable			(839	)			—
Principal repayments on note			(343,000	)			—
Net cash provided by financing activities			12,924,336				3,674,303
Increase (Decrease) cash and cash equivalents			8,117,378				435,134
Cash and cash equivalents at beginning of period			2,308,871				1,873,737
Cash and cash equivalents at end of period		$	10,426,249			$	2,308,871
Supplementary disclosure of non-cash financing activities:
Issuance of common stock listed as “to be issued” in prior year			8,088,474				–
Reclassed of accrued interest to note			442,150				–
Stock issuance, placement fees			502,040				–
Preferred stock conversion to common			50,000				–
Stock issuance, cashless exercise of warrants			74,375				–
Cash paid during the year for:
Interest		$	560,418			$	515,515

SOURCE:SQL Technologies, Inc. dba Sky Technologies

The Former Executive Vice President of Strategy at August Jackson Brings Over 10 Years of Industry Experience and Insights to INVNT Higher Ed

New York, March 08, 2022 (GLOBE NEWSWIRE) — INVNT® Higher Ed, the live and experiential higher education storytelling division of INVNT and global umbrella enterprise [INVNT GROUP]®, announces Josh Johns as new Vice President of Creative Strategy.

Johns has spent the last ten years leading branding, communications, and launch strategies for new initiatives and fundraising campaigns with many of the top universities, health care systems, and non-profit institutions across the United States. Throughout his career, Johns has helped institutions launch fundraising campaigns of $500 million to $5 billion for higher education and healthcare institutions.

Prior to joining the INVNT Higher Ed Team, Johns held the role of Chief Creative Officer at Feats Inc., and led branding, communications, and launch strategies for a multitude of prestigious institutions including Duke University, Harvard Business School, INSEAD, the University of California, Irvine, New York University, and M.I.T. Johns has also worked as a creative director in film and advertising, and served in product marketing management roles at internet start-ups, and across the software industry.

Tapping into a powerful stack of omnichannel engagement strategies, creative direction, and deep networks in the higher education realm, Johns will leverage his expertise to expand the reach of INVNT Higher Ed.

“Among the most impressive of Josh’s talents is his creativity and commitment to challenging the way colleges and universities engage with their audiences across all platforms. His thought leadership and deep industry knowledge align perfectly with INVNT Higher Ed’s position as the go-to partner for the most forward-thinking schools,” said Sarah Winkler, Senior Vice President of INVNT Higher Ed.

INVNT Higher Ed is dedicated to providing universities and colleges with strategically and creatively led physical and virtual experiences that challenge convention, while engaging and uniting communities. The division – part of the global live brand story telling agency INVNT – is led by industry veterans Sarah Winkler, Senior Vice President, and JoAnn Peroutka, Vice President. They each bring more than 25 years’ experience to the agency. Over the course of their careers, they have successfully designed and delivered higher education events including campaign launches, regional tours, centennial and sesquicentennial celebrations, and presidential transitions for internationally renowned institutions.

“We first introduced our INVNT Higher Ed offering at a time when the world was experiencing a seismic shift in how we connected to one another. Globally, we saw our universities, colleges, and other institutions grappling with world concerns – many of which continue to evolve. The expansion of the INVNT Higher Ed division is a testament to the transformative power of storytelling and community building. We are proud of the deep partnerships cultivating alongside the global ‘challenge everything’ brands and institutions that put their trust in us,” said Kristina McCoobery, CEO of INVNT and COO of [INVNT GROUP].

As Vice President of Creative Strategy, Johns will articulate INVNT Higher Ed’s vision through strategic engagement-driven campaigns, powered by INVNT’s ‘Challenge Everything’ mantra, to deliver compelling, innovative, and authentic brand storytelling.

“Higher Ed is going through a period of tremendous change, and there’s a lot of opportunity for institutions to rethink and reimagine how they’re telling their stories. I’m excited to be able to leverage the expertise and creativity across the INVNT Group to explore new models for engagement and break new ground in how universities use innovation and technology to reach their most important audiences,” said Josh Johns.

To learn more about the INVNT Higher Ed team and their mission to create innovative strategies and live events for higher education, please visit our website.

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About INVNT® Higher Ed
A division of award-winning global live brand storytelling agency, INVNT™, INVNT Higher Ed specializes in providing colleges and universities with strategically and creatively led physical and virtual experiences that challenge convention and unite and excite audiences. Led by Senior Vice-President, Sarah Winkler,  JoAnn Peroutka, Vice-President, the division draws on INVNT’s award-winning challenger positioning and approach and their combined experience in higher ed to curate tailored solutions that communicate institutions’ mission and purpose and engage and mobilize entire communities. Visit www.invnt.com/highered for more.

About INVNT
Founded in 2008 by Scott Cullather and Kristina McCoobery, INVNT uses the craft of live brand storytelling to Challenge Everything, producing live experiences that excite and unite physical and virtual audiences, globally. The company’s ‘challenge everything’ positioning statement helps clients including General Motors, Microsoft, Merck, PepsiCo., and Samsung share their stories with every audience that matters. Part of [INVNT GROUP], THE GLOBAL BRANDSTORY PROJECT™, INVNT’s offices are strategically located in New York – where its INVNT Higher Ed division is also based – London, Sydney, Detroit, San Francisco, Washington D.C., Stockholm, and Singapore. Visit www.invnt.com for more.

About [INVNT GROUP]
[INVNT GROUP] was established in 2020, as an evolution of the founding global live brand storytelling agency INVNT in 2008, with a vision to provide consistent, meaningful, well-articulated BrandStory across all platforms. Headed by President and CEO, Scott Cullather, [INVNT GROUP], THE GLOBAL BRANDSTORY PROJECT™ represents a growing portfolio of complementary disciplines designed to help forward-thinking organizations everywhere, impact the audiences that matter, anywhere. The GROUP consists of modern brand strategy firm, Folk Hero; creative-led culture consultancy, Meaning; branded content studio and content marketing agency HEVĒ, INVNT Higher Ed; events for colleges and universities, and the original live brand storytelling agency, INVNT. Visit www.invntgroup.com for more.

Attachment

• INVNT® Higher Ed Bolsters Team

Jhonathan Mendez de Leon
INVNT GROUP
3478192089
jmendezdeleon@invnt.com