All right. Hello everyone. Thank you for joining us throughout the day here at the Lytham Partners Fall 2024 Investor Conference. My name is Robert Blum, Managing Partner of Lytham Partners. During this presentation, we welcome SkyX Platforms, ticker symbol of S-K-Y-X on the Nasdaq, and joining us today from the company is Rani Kohen, the company's founder and Executive Chairman. Before I turn it over to Rani, I just want to remind everyone that management is available for one-on-one meetings today throughout the conference. If you've not already scheduled your meeting and would like to do so, feel free to send me an email. That's Blum, B-L-U-M, @lythampartners.com, or visit lythampartners.com/fall2024. From there, you can click on the Investor Registration button to make your one-on-one selection. Rani, thank you very much for your participation in the conference here today.
The floor is all yours.
Thank you very much for having me. Good day, everyone. We're happy here to present to you SkyX Platforms, SkyX Technologies. We're making homes and buildings become safe and smart and advanced as the new standard. If you think about it, I always like to say we've been to the moon over 50 years ago, but that technology was good enough to take us to the moon, but for some reason, not good enough to make homes become smart and safe as a standard. As a matter of fact, 97% of homes are not smart in the U.S., and 99% of homes are not smart around the world. So we have a few solutions for the smart home and lighting industry, how to make homes become smart, safe, and advanced as the new standard. Our cautionary statement.
That's part of our management, board, advisory, and investors that all of them here are working for the company, part of our team, and some of them executives in the company, and some of them are senior advisors. We have here our president, second from left, Steven Schmidt, a former CEO of Nielsen Data Rating and former president of Office Depot, is our president and investor in our company, invested several rounds. So is Bob Nardelli, former CEO of Home Depot, Chrysler, and GE Power Systems, invested with us several rounds and is part of our senior advisory team here. Al Weiss also invested and part of our senior advisory team. Al was the former president of Disney Worldwide Parks, Hotels, Resorts, Cruise Ships, and Products.
Our lead director is Governor Tom Ridge, former head of Homeland Security, two times Governor of Pennsylvania. We have with us Lance Shaner, he's the founder and owner of a global hotel chain, including many Marriotts, and he's an investor in the company and also senior advisor for us. Mark Earley in the center here is former head of the National Electrical Code. National Electrical Code is the National Electrical Code for all 50 states for electricity, safety, and standard. He ran this organization for over 33 years and then retired and joined us. He was in charge of every nuclear site, military base, airport, hospital, residential, commercial structure in the U.S., and a very senior member of our team here.
Our co-CEO, John Campi, former Chief Procurement Officer in Chrysler and Vice President in Home Depot. And Lenny Sokolow, our co-CEO, former President of National Securities and CEO of Newbridge. We have here Eric Jacobson, former CEO of American Lighting Association, and Khadija Mustafa, former head of Microsoft Global AI and business leader. We have Paul Cernohous, former Entrepreneur of the Year by EY and investor and a very successful insurance person. Our last but not least, Patricia Barron, our co-CEO, a world-class UL and safety expert. We will share with you why those people invested in us, many of them in our IPO and before, when we were $14 and $12 a share, and still really great believers and great to have them on our team.
This is our three-generation product video that will tell you about our company for three minutes, and we then will go back to the presentation.
SkyX Platforms. SkyX's leadership includes former Fortune 100 CEOs and executives. SkyX, the future is here. Advancing, simplifying, while saving time, cost, and lives. SkyX's technologies won seven CES awards and has nearly 100 U.S. and global patents and patent applications. Thomas Edison invented the light bulb, that for many years was installed by twisting hazardous wires, until inventing the Edison base that became the global standard in every home and building for billions of light bulbs. Billions of fixtures are installed annually while touching hazardous, dangerous wires and risking lives. SkyX has a goal to follow Edison's path, to become a U.S. and global standard in homes and buildings for billions of fixtures, including smart homes, AI, lighting, and fans, to become plug-and-play, advancing their performance, making homes become safer and smart within seconds, while saving time, cost, and lives.
Our Gen-1 SkyPlug enables a safe installation of light fixtures, ceiling fans, smart home and electronics within seconds, making it safe, easy, and convenient for the user. First time installation takes 2-3 minutes to install, and it is safe to touch. SkyPlug is recognized as part of the NEC, the National Electrical Code, determining electrical safety protocols and code nationally. SkyPlug's technology has been listed multiple times in the NEC code books. SkyPlug's technology is also endorsed by the IAEI, the International Association of Electrical Inspectors, and mentioned in multiple publications, acknowledging the safety and the usability that its technology brings to the electrical profession. Our Gen-2 is a smart SkyPlug, takes only seconds to install, and is integrated with the newest technologies and platforms.
The SkyPlug Smart is integrated with many smart features, including phone control, voice control, energy-saving eco mode, scheduling, dimming, works with Siri, Alexa, Google, Cortana, and SmartThings. It has an emergency light, night light, color-changing light. Our Gen-3 Sky All-in-One smart home platform enhances your all-around lifestyle, making your home become smart and safe instantly. It includes the most advanced, smart, and safe features that are necessary for every home. The top center of the ceiling is the best location in the room to maximize performance of many technologies, significantly enhancing the Wi-Fi/Bluetooth sound signal and distance. The Sky Platform installed safely and simply within minutes to the top center of your ceiling, blending inconspicuously with your decor. The Sky Platform is integrated with a backup power failure LED light. In the center of the Sky Platform is embedded the Sky Outlet, as approved by the National Electrical Code.
SkyPlug lighting, fans, and accessories can connect with the click of a button to the Sky Platform. A series of Sky Platforms installed in a home could repeat Wi-Fi signal and play the same music throughout the house. In the event of a fire, the integrated smoke and CO2 sensor would make an alarming sound. The SkyHome app can easily control light intensity, motion detector, light color control, temperature and humidity monitoring, room-to-room intercom, control volume and music in each room. SkyX Platforms.
So now we move to, starting to go a bit deeper into our, technology and, our achievements. So as we said earlier, and now you can see why we believe our product is necessary, is a necessity in every home, how it saves lives, significantly save cost, significantly save time, simplify, and advance. And if you think about this, one of those reasons by itself can be a major reason for huge success for companies, and we have all of them. It's rarely that you see a company that can advance and simplify, save costs and time and lives in one product. We have 97 patents, with 36 issued, including, in China, India, and in Europe. We own 60 , home lighting and home decor websites that we currently sell our products there, plus among other places.
Our TAM addressable market is over $500 billion, and expected revenues are coming now for product sales, but we expect them also to come from royalties, licensing, subscription, monitoring, sale of global country rights. Our products can influence and advance key sectors like insurance companies, building and safety regulators, lighting industry, smart home industry, electrical industry, building, apartment building, hotels, cruise ships, et cetera. We generated in our first year $58 million. First year of revenue, $58 million in 2023. Our first quarter was $19 million in sales. Our second quarter was Q2 was $21.4 million in sales, and we reported cash and cash equivalents of $15.6 million. Our management team anticipates that we can come cash flow positive next year.
We had some key collaborations with world-leading, U.S. and world-leading companies, including a collaboration with Home Depot for the retail and professional segments in both online and retail stores. Our product is starting to arrive online and on retail stores as we talk now, and we expect to grow it to hundreds of products online and, hopefully many also in, retail stores. We're starting with a few as we talk now. They're starting to arrive to many Home Depot stores. We signed a 5-year agreement with GE, a global licensing agreement, to share our technology and create a global standard. And GE has many experiences or, I say, significant experience in making homes-...
and buildings and other places become safe, as well as advanced in commercial and industrial, and GE and many others strongly believe our product will become standard for homes and buildings. We collaborated with U.S. and world-leading companies, Kichler, U.S. lighting company, 100 years old, Quoizel, the biggest and largest European lighting leading lighting company, EGLO, and we also in collaborating for the home market, professional market, retail segments, and online. And we also collaborated with the Chinese leading supplier and manufacturer, probably the largest in the world, supplying the U.S., Europe, and China, and that includes some financial backing in some aspects and ways. We are now starting to sell products, and we are nearing 10,000 U.S. and Canadian homes already.
We expect to be in tens of thousands of homes by next year. As we mentioned earlier, we're selling online in over 60 websites of our own, among other places that we are starting to penetrate. We signed with a large builder that's doing approximately 1,000 units, and we expect to supply them down the road in the next coming years, 30,000 units of our products in 1,000 homes, our smart plug-and-play and advanced products. Those are the three generations of products that we showed you in the video, and we are gonna license them to the smart home industry, to the lighting industry, and to the electrical industry. As we mentioned, we won seven Consumer Electronics CES Awards in the past twelve months or so.
This is really how we see our product, starting with cables that used to be wires, became plug-and-play, and the most significant kind of example to what we're doing here is the Edison bulb that, as we showed in the video, the first bulbs were connected with wires to the ceiling until Edison and established GE started the company, and then they invented the Edison base that made it a global standard. We're following the same path here to create, instead of wires and hazardous installations, installation for electrical and smart home fixtures, a plug-and-play solution. And GE and others believe we can become a global standard for safe, time-saving, cost-saving installations. This is really how homes are today.
If you take out your outlet box in the ceiling, if it's an old home, that's what you're gonna see. If it's a newer home, you'll see the same with maybe nicer wires, but all the risk involve injuries, death, electrocutions, ladder falls, fires, and many other hazardous incidents, so we believe this is a global application. Like, every home has a wall outlet, why not a ceiling outlet? This is really what you see here, happens approximately 10x billion globally, that people go on ladders to install smart home fixtures, light fixtures, ceiling fans, and with much risk associated to those things. As you can see on the left, our plug-and-play can hold up to 200 lbs.
It has two locks, and we spec it mainly for 50-pound products right now, but we expect, though, to grow to much heavier products as well. There's, in the U.S. in residential alone, 4.2 billion applications in ceilings for us, and that's in residential only. Commercial should be as twice as big as residential. So there's close to 1 billion applications in the U.S. to our product, and we expect to capture even a very small percentage or less than 1% of the market. That can be a huge success for us, and we're in the right path. As was mentioned earlier, we're nearing 10,000 homes already and expect to be in tens of thousands of homes by next year.
We're really conducting here what we call the razor and the blade model, opening an entire new world in the ceiling that the razor is our receptacle, and the blades are really everything that plugs in. If it's smart products, if it's smart ceiling fans, smart home platforms, recessed lights, wall sconces, chandeliers, et cetera. Our product also significantly enhances performance of smart home and AI fixtures. As you can see here, and even on the all-in-one smart platform, you can still plug-and-play the fixture. Really, the problem that you have on the left here is the reason that 97% of American homes and 99% of entire world homes are not smart.
The complexity of making one bedroom smart in today's world is a day or two for wiring, and then when the gadgets are installed all across the room, they lag and create many complications. People that have this experience with smart homes will tell you. Our product here, as you can see on the right, saves 99% of time, but is all synchronized on one device. It also prevents most of the lagging, if not all. In addition to this, quite significant is if someone gets a gift of all the smart gadgets he can find on the left, and he gets a free home, and he wants to install it. He'll find out that the installer himself will probably charge him twice or three times more than our device paid for and installed to the ceiling.
And that's the main reason why many homes, the cost and the complexity is one of the reasons that homes do not have them, and builders do not like to use them, because not only it's a cost, major cost, pre-construction and during construction, but it's a major headache after you deliver the home. And our products solve the, you know, time-saving, cost-saving, with the life-saving aspects and definitely simplifying and advancing the process. As you can see here, on one bedroom will take you a minute rather than a day or two. A large home will take you probably an hour or two compared to weeks, and a high-rise or a 500-bedroom hotel will take you today probably a year and many millions of dollars.
With our product, it can take you probably a few days and a fraction of cost. Really, it's the same concept of an iPhone. You have all the smart gadgets you have on your personal platform as a smartphone. We did the same, took all the smart home gadgets and smart home and safety gadgets, put them all in one to create what you saw in the video. We have smart smoke detectors, smart CO detectors, Wi-Fi extenders, emergency light. We will have nine one one calling. We have color-changing ambiance, night light, room-to-room intercom, Wi-Fi extenders, scheduling, and many other sensors to come, and really, our product advances many things. Top center of the ceiling will advance definitely Wi-Fi.
You can see here on the chart on the left here, that's what happened with most of people use the wall outlet to put the Wi-Fi extender or the routers, and the same chip going on the ceiling will probably almost double the speed of internet and probably triple the range of internet. So that's also with smoke detectors, CO detectors, Wi-Fi extenders, I mentioned, but also intercom, voice control, sound, and many others will work much better in the top center of the ceiling. We mentioned it's good for hotel rooms, cruise ships, hospitals, elder living, home care, offices, retail, and we also, based on the safety aspects we have in our product, we applied with our leadership to become a standard and a mandatory standard.
And Mark Earley, who ran the National Electrical Code, is really the one that is leading our code committee, together with Eric Jacobson, the former president and CEO of American Lighting Association. What you see here on the left is what we or not on the left only, but those are the most significant additions to the National Electrical Code, and we're very proud to be the most significant addition in the past forty years, since those things happened. Every bathroom has the GFCI. You can see it here on the center with the red button. Sometimes it's white buttons in the center, but this is a mandated code. We're following the path.
We became a standard in the National Electrical Code, and by ANSI, American National Standards Institute, and NEMA, National Electrical Manufacturers Association, all voted for us as the standard, and we're applying now to become a mandated standard in every home. Like every home has a GFCI in the bathroom and many kitchens, we expect, based on the safety aspect of our products, that we will be mandated in every home. There's no exact timetable. You know, regulators take a while, and more than a while, and many times to make it happen, and that's the bad news. But the good news is we're already 12 years in the process, and we believe that we're getting closer and closer, and it will happen one day.
That's our strong belief, and we hope that will come true sooner than later, but we also got voted by the American Institute of Architects as part of our safety applications, as part of their continuing education program, and we also, if you can see here in the center, as the GFCI has a generic name, Ground Fault Circuit Interrupter, we were voted with a generic name of WSCR. It's part of the conditions to have a generic name when you're in the code, if you wanna become a standard. This is really equivalence of concepts, like there was a wall outlet, why not a ceiling outlet? We need to prove technically, one death can be enough to become mandatory. Unfortunately, there are much more just from fires related to electrical wires.
There's over 400 people that die a year. You know, you have ladder falls and electrocutions and huge numbers. We didn't even mention them here. This, again, our leadership and Mark Earley, the former head of the NEC, and Eric Jacobson and Bob Nardelli, that was the CEO of GE Power Systems, also have a lot of experience in making changes and seeing changes in safety by the regulators. Our Gen-1, one and two products, really, we have a retrofit kit that we'll show you in a second. But today, there's three ways to buy light fixtures, for example, on the left, with wires.
In the center here, you can see our Plug and Play, and on the right, you can see the Smart Plug and Play, and it's again the razor and the blade model here. We're selling our product in many websites, including some of them you can see here. This is the retrofit kits. You have a smart retrofit kit here. It can change the color ambiance of your room. You can talk to it with Siri, Alexa, Google Home, Samsung, and many others, and control your light fixtures and dim it through voice or through our app, the SkyHome app, and that's the same for ceiling fans, so you can see this, and you can have home control and all the smart home features you see here.
Wi-Fi, Bluetooth, scheduling, energy-saving mode, dimming, color changing, night light, emergency light, power meter, temperature, humidity, and much more. And we also have a patent on recessed light. This is a multi-billion-unit market that we got a patent on, and we're gonna have all kinds of designs, rounds, squares, and many different colors. And you go on the ladder to just install a recessed light. You can find yourself spending 20, 30 minutes to touch a hazardous wire when you can do it Plug and Play within seconds. That's a lot of other products that we are getting to the market and sharing our technology with others, and we expect to license it down the road with our GE agreement. That's a sample of our boxes. We're spreading around those receptacles.
You can see on the left, we have several sizes of boxes, one, four, eight, and 24, and the recessed lights, and we also have a patent on the smart heater, a ceiling fan with a heater inside, among others. The go-to-market is for online and retail builders, hotels, and we expect to license and sell OEMs and online retail and builders, apartment buildings, hotel, cruises, online retail, commercial, and subscriptions and data aggregations can always be part of our model and expected to be. We're doing our PR campaigns and IR through our 60 websites, and our IR firm does the investor PR, and our marketing people doing the education PR on our product.
And, as we sell, we're selling online already and started now in retail, and wholesale, and OEMs, too. And, we're starting sales to builders, apartment buildings, hotels, and, we expect to start with licensing, and, selling even country rights. So really, that's the entire team here. We have our tech office in Israel, and, most of the team is here in the U.S. Our board members mentioned earlier, our management, and, really, that's it. Thank you very much for your time. Looking forward to meeting with you in person. I will be with our Co-CEO, Lenny Sokolow, and we'll be happy to answer any questions you have. We hope you have a great day. Looking forward to meet you all. Thank you.
Great, Rani. Thank you very much. Great presentation. Again, just want a quick reminder before we wrap up, as Rani just said, if you'd like to schedule a one-on-one meeting with management throughout the day here at the conference, send me an email, Blum, B-L-U-M, @lythampartners.com, or again, visit the landing page for the conference website. That's lythampartners.com/fall2024. From there, you can click on the Investor Registration button. So Rani, once again, thank you very much for your time here today, participation in the conference. We hope you enjoy it, and have a great day here.
Thank you.