SKYX Announces Lenny Sokolow Joins the Company as Co-CEO

Rhea-AI Summary

Leonard Sokolow joins SKYX as Co-CEO, choosing majority of compensation in SKYX stock and options. Sokolow's experience and relationships expected to increase awareness of SKYX's growth opportunity in financial institution segments.

Mr. Sokolow, Former CEO of Newbridge Securities and Former President of National Securities, Has joined SKYX to Enhance U.S. and Global Institutional Awareness of the Company's Unique Growth Opportunity

Mr. Sokolow has Chosen to Receive the Majority of his Compensation in SKYX Stock and Stock Options

Mr. Sokolow is an Attorney and CPA with Vast Experience in the Public Financial Markets

MIAMI, FL / ACCESSWIRE / September 13, 2023 / SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a "Sky Technologies"), a highly disruptive smart platform technology company with 72 issued and pending patents in the U.S. and globally and over 60 websites for lighting and home décor with a mission to make homes and buildings become safe and smart as the new standard, announced today that Leonard (Lenny) Sokolow has joined the SKYX as its Co-Chief Executive Officer. Mr. Sokolow will continue to serve on SKYX's Board of Directors, which he joined in 2015.

Prior to joining SKYX, Mr. Sokolow was the CEO of Newbridge Securities Corporation and Newbridge Financial Services Group, Inc. with approximately $3 Billion in client assets. During his time at Newbridge, he was leading its full-service broker/dealer, wealth management, as well as its investment banking operations. Previously he served as President and Vice Chairman of National Holdings Corporation (National Securities), a broad-based financial services company. Mr. Sokolow serves on the board of three additional Nasdaq-listed companies.

Leonard Sokolow said: "I can't emphasize enough how excited I am to join SKYX and introduce its growth opportunity to the financial institution segments during its inflection point. I strongly believe that SKYX's recent filling of its mandatory safety standardization application with the National Electrical Code (NEC) for its outlet receptacle platform for ceilings in homes and buildings, as well as its acquisition of 60 lighting and home decor websites, positions SKYX to revolutionize the lighting and smart home industries.

"As evidence, I agreed for the majority of my compensation to be paid in SKYX's stock and stock options. I look forward to joining Rani and to continue working together with John Campi, and the exceptional SKYX management team which includes several true leaders from a variety of industries."

John Campi, Chief Executive Officer of SKYX Platforms, said: I am extremely excited to have Lenny join SKYX and me as Co-CEO, as he is a widely respected authority in the public financial markets. He brings more than three decades of highly sophisticated institutional, managerial, investment banking, legal, regulatory, and public markets experience to SKYX."

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: "I am truly excited to have Lenny join SKYX as Co-CEO and work together with John Campi and I. With Lenny's vast experience and long-term relationships in the public financial markets, I am confident that he will significantly increase awareness of our unique growth opportunity in the financial institution segments."

About SKYX Platforms 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 new standard. SKYX Platforms Corp. (NASDAQ: SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 72 U.S. and global patents and patent pending applications as well as over 60 lighting and home décor websites. 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.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as "aim," "anticipate," "believe," "can," "could," "continue," "positions", "estimate," "expect," "evaluate," "forecast," "guidance," "intend," "likely," "may," "might," "objective," "ongoing," "outlook," "plan," "potential," "predict," "probable," "project," "seek," "should," "target" "view," "case," "will," or "would," or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words.

These statements reflect the Company's reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those expressed or implied by the forward-looking statements.

Such forward-looking statements include any statements regarding any of the Company's products becoming a new standard. The filing of the Company's application for a mandatory safety standardization with the National Electrical Code (NEC) does not guarantee approval within any specific timeframe or at all. The NEC's approval of the Company's generic names for its weight-bearing safe plug & play outlet/receptacle for ceilings as WSCR (Weight-Supporting Ceiling Receptacle) for its universal ceiling outlet and WSAF (Weight-Supporting Attachment Fitting) for its ceiling plug, or the American National Standards Institute's (ANSI) and the National Electrical Manufacturers Association's (NEMA) vote for the standardization of the Company's weight-bearing plug and outlet/receptacle for ceilings do not guarantee approval by the National Fire Protection Association's (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and do not guarantee that any of the Company's products will become NEC-code mandatory in any jurisdiction, or that any of the Company's current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance that any of the Company's current or future products or technologies will gain market acceptance or that they will be adopted by any state, country, or municipality, within any specific timeframe or at all.

Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Such risks and uncertainties also include statements relating to the Company's ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company's efforts and ability to drive the adoption of SKYX's Smart Platforms into homes, buildings, cruise ships and communities and adoption by hotels, builders and architects, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, risks arising from mergers and acquisitions, and other risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. Readers are cautioned not to put undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987
SKYX@mzgroup.us

SOURCE: SKYX Platforms Corp. dba Sky Technologies

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