Access Alpha Virtual Best Ideas Summer Investment Conference 2025. The next presenting company is SKYX Platforms Corp. If you would like to ask a question during the webcast, you may do so at any point during the presentation by clicking the Ask Question button on the left side of your screen. Type your question into the box and hit Send to submit. I'd now like to turn the floor over to today's host, Lenny Sokolow, CEO of SKYX Platforms Corp. Sir, the floor is yours.
Thank you very much, and thank you for the opportunity. I just wanted to—I’ll go through our main slides and make sure everyone has an overview of what we have at SKYX. You know, our mission, of course, is making homes and buildings safe, smart, and advanced as a new standard. Of course, we’ve got our disclosures, cautionary statements, and I’m going to play a three-minute video and give you an overview of our product.
SKYX Platforms. 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 home, 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 a minute to install, and it is safe to touch. SkyPlug is recognized as part of the NEC, the National Electrical Code, 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 SmartThanks. 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 SkyPlatform installed safely and simply within minutes to the top center of your ceiling, blending inconspicuously with your décor. The SkyPlatform is integrated with a backup power failure LED light. In the center of the SkyPlatform is embedded the SkyOutlet, as approved by the National Electrical Code. SkyPlug lighting, fans, and accessories can connect with the click of a button to the SkyPlatform. A series of SkyPlatforms 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.
Okay, so sorry, there have been at least some audio problems that we're having. We have—I'm sure you're seeing the slides—but the CAGR growth has been extraordinary. We have, as I said before, the growth in the markets in multiple ways for home construction and new buildings, etc., will continue in smart buildings. Again, 97 patents, 36 issued globally. To continue on, and I know some of the audio has been missed, we have—these slides are a little laggy. I'm sorry. The 2023, $58.8 million in sales. 2024, $86.3 million. We've had almost five consecutive quarters of growth. We did a—with insiders and the strategic investors, we did a $15 million raise starting in October of 2024 for a preferred convertible at $2 per share.
We have, again, our three generations: the Plug, the Smart, and the All-in-One, which will be in production by the end of this year. We have already in the market our app and control our Generation- 2, and it works with Siri, Alexa, Google Home, etc. In the last few years, we've won seven CES awards, and we've announced a few weeks ago the $3 billion Smart Urban City in Miami was announced. This is downtown Miami. The Wynwood, which is the graffiti-cool area that they've built. You have South Beach over here in the horizon, and the Smart City is just north of that. We expect to have over 500,000 installations of our Smart platform technologies and products. And we know that's a conservative number. It's going to be mixed-use, commercial, and a train station to name other construction that they'll have there.
This is going to be a three-year project. We are now two of the largest builders in Miami, as well as one of the biggest international builders. This is, we think, also a beginning for the Smart Cities and that we find them as early adopters. In terms of distribution, we've had the Home Depot, Wayfair, Kichler. These are all announced relationships. Quoizel, EGLO, the largest in Europe, and Rui Appliances, which is the largest Chinese manufacturer for the U.S., the Chinese markets, and the European markets. They do about half of the manufacturing for these markets. They've provided as a partner also financial support similar to the financial opportunity that we use on our websites where we use the Dell model. We collect day one. We don't pay the vendors 30-60, 90, 30-60 days.
We have also again solving this problem of the wires and the plug and using our technology. What we have done is from a mandatory—this is now the regulations behind all of what we have accomplished. You have the wall outlet here on the left. Lights used to be put in by three wires, and then the outlet was created in 1904. Again, the Edison Bulb did not become a standard until the Edison Socket was created. In the 1980s, you had the Ground Fault Circuit Interrupter. I know you all have that in your home or in terms of your kitchen or bathroom because it was mandatory in the 1980s. They created a standard, and your buttons may be a different color, but everything is a GFCI, Ground Fault Circuit Interrupter. The people that had these patents, they still get royalties on them.
What's interesting is that the people, the inventors of the wall outlet and the GFCI, they have patents only on the receptacle, not on what got plugged into it. We're different. We have patents on both sides, the receptacle and our plug. Very unusual. I actually met the founder and the Executive Chairman over 13 years ago. I was the General Counsel and EVP of a company that made hair dryers. In the 1980s, just after the GFCI was mandated, I went through the process of having to license this technology. All the hair dryer companies like GE and Philips and Sunbeam, Conair, my company, we had to go license this technology, and it's now mandatory. You go buy a hair dryer today, it's on the end of the cord.
This is the standard, and this is what the landscape that we have in the United States. What we've done is that we've created a standard just like the solution. This solution, this is the equivalency of concepts. The wall outlet, the Edison bulb, and our outlet. What's transpired is in terms of the ceiling receptacle, why the TAM is so huge is that there's so many installations. You've got over 140 million homes in the U.S. and about 30 fixtures or installs in the U.S., about five times more than the wall outlet. The market for this is massive. This is just in the U.S. and just in residential. We're talking about annually about 420 million U.S. fixture installs in the U.S. You get the commercial, it's that much, if not more.
Again, when we went to the regulators, we presented the equivalency of concepts just like the wall outlet. We have the junction box, which is standard, and we do not cannibalize anybody. We do not replace this. The three wires come out of here, and those three wires go into our receptacle, and we screw in the bracket, cover plate, finished product, and then the plug. This is what the regulators saw. This is what we have accomplished, really. When you think about FDA, the equivalent is like we got almost over 10 FDA phase three approvals. 1904 is the wall receptacle. We talked about the 1980s, the Ground Fault Circuit Interrupter became mandatory. What happened is over the last 13 years, we are at 10 segments in the electrical code. Two years ago, we got approved by ANSI, which most people do not know. It is probably even more groundbreaking.
Those are the standards for commercial buildings. Excuse me. And you can't put in rebar or concrete without having it subject to ANSI specifications. We got ANSI approval, which is very unique and very rare. And the American Institute of Architects was already training on our solution, our products. So what happened, basically, after all these segments that were approved and mandated, after 120 years, the definition of the receptacle got changed, which most people don't know. And this is a little disconnect we have in the marketplace because if people knew what they know about the FDA, about the NEC, there'd be a better understanding. But now the National Electrical Code has changed the code to add a second defined receptacle. You have this one, old from 1904, and you have ours. And so what's happened is that as a result, a builder could put in a wall outlet.
They do not need to plug in lamps to get their certificate of occupancy or a permit. They could put in a ceiling receptacle or sconces or an outdoor light, and they do not need to put in a fixture or a cheap fixture. They just need to put this in. They could get their certificate of occupancy or permit. That is one of the groundbreaking time saving and money saving, but that is not really the best part. Besides that, they have now given us a generic name already. This is all codified. They have called us the WSER, just like the GFCI, where the weight support ceiling receptacle. We are a receptacle, but we can hold 200 pounds. The junction box only holds 50. We are over-engineered from a weight perspective. What is groundbreaking is that after 120 years, the definition has been changed. We have been given a generic name.
It's already in the NEC codebook. The next step that we've done is that we've applied for mandatory. The guys that signed our application, just to remind you, are these two guys, Mark Early, who has the code, and Eric Jacobson. We've also announced a very prominent person who's very close with the U.S. Administration and President, that a lawyer and very prominent internationally has concluded that there's at least four other U.S. agencies that can also require this to be mandatory because we've proven that we save lives and we mitigate damages and property damage. This is the data from the National Fire Protection Association, which is the parent umbrella to the National Electrical Code. There's over 430 civilian deaths per year and thousands of injuries annually. This is just from twisting wires, fixtures in the ceiling or sconce was wrong.
They may work for a couple of years, but maybe they'll start to spark an arc if it wasn't done correctly. Over 500,000 ladder falls and hundreds of deaths annually. Yesterday, I spoke to someone, an analyst, who said their uncle died changing a light bulb in the garage from being on the ladder. The tens of thousands of electric shocks annually. This is their data. They didn't give us these code provisions because they liked us, just because we save lives, according to their own data. Our whole strategy is basically to, when the builder builds the building, they're putting in the receptacle, and they're putting in our receptacle. They could get their certificate, and we call it the razor and blade model, not to be simplistic. All these products can click right in and be interchanged.
The reason why the lighting companies have collaborated with us is they believe that we will reduce the velocity. We'll increase the velocity and reduce the replacement cycle of lighting sales because it would be so easy to replace your light. You've seen already for two seasons, we've got the Christmas tree that you plug in. All these products, these are already selling on our websites. These are landed already with the plugs ready to go. We have patents on all the recessed lighting, which is a massive lighting, and global patents and exit signs. Of course, we're commercial and emergency lights. The fans, we announced a fan that we're launching and getting great demand for an all-in-one fan that we have a global patent for. It's a fan and a heater.
For all seasons, the big box stores, we believe, will be very interested in this and are very interested in this. We did a press release yesterday. The turbo fan below, fan to cool, and the same thing is two different styles. What we did not know, thinking we are smart sometimes and know it all, but what we did not know is that these big box stores have a big problem with these box heaters, that people do have fires and injuries and deaths. They sue the manufacturer and they sue the retailer. Having these heaters off the floor is why we designed it for safety, but we did not realize that these corporate, these enterprises, there is a whole risk issue for them as well for liability. This is a major product.
This is a product we believe will get us to cash flow positive by the end of this year. It comes with all our smart features. This is a very quick overview. I know we have limited time. We have all of our products available, box ready to go, selling the outlets, all-in-one platform for later this year, etc. We have a licensing strategy that we've developed, go to market, and we're prepared to license all of what we have to third parties. The market's so vast, it's incredible. Maybe with that, I will see if there's any Q&A. I could do quickly. One question is, and I'm not sure what the, there was a referral about ANSI and NEMA. ANSI and NEMA have already approved the product.
I think it's unrelated to what the regulators do, but it does help. Again, the mandated opportunities are broader now with other government agencies. I apologize for the sound getting cut off. Another quick question is, how is the pipeline of new partners and distributors? Some of them are, the pipeline's good. I mean, we just announced the smart city, which is massive and unit opportunity. Very large developers we've announced. There will be more penetration when all these things start to become something that we make sure that it's reportable. I think that's it for the questions. In terms of time, we got about a minute left. I hope if you guys have any further interest, they'll know how to contact me. Happy to have a one-on-one and also a full presentation because I know this was shortened.
When you have, if there's an interest, I could do a full presentation or Zoom. We make ourselves available to anyone that has an interest. We appreciate your interest as well. I think that's it, Mr. Moderator.