SKYX Technologies Provides Corporate Update Highlighting $11M Preferred Stock Investment; Including $500K From President Steve Schmidt; Expects To Be Cash Flow Positive In 2025; Q2 2024 Sales Of $21.4M; Pursues Additional Strategic Collaborations To Enhance Growth Opportunities
Portfolio Pulse from Benzinga Newsdesk
SKYX Technologies announced a $11M preferred stock investment, including $500K from President Steve Schmidt. The company aims to be cash flow positive by 2025, with Q2 2024 sales of $21.4M. SKYX is pursuing strategic collaborations to enhance growth opportunities.
October 09, 2024 | 3:56 pm
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SKYX Technologies secured a significant $11M preferred stock investment, with insider buying from key executives. The company reported strong Q2 2024 sales of $21.4M and aims to be cash flow positive by 2025, indicating potential growth and stability.
The $11M investment, including insider buying, signals confidence in SKYX's future. Strong sales figures and a goal to be cash flow positive by 2025 suggest potential growth, likely positively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
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