Electrical Tech Co. Teams With A-Lister to Make New Smart Product
Source: Tim Weintraut
May 19, 2022 (Investorideas.com Newswire) Every once upon a time comes a new, groundbreaking technology that becomes the new industry standard. In 2007, Steve jobs brought us the iPhone, now SQL Technologies has pioneered the safe-smart SkyPlug.
SQL Technologies Corp. (SKYX:NASDAQ) founder, innovator, and chairman, Rani Kohen never intended to run a publicly-traded company.
As a long-term player in the real-estate business, all Rani wanted to do was devise a safer, faster, more efficient way to install light fixtures and ceiling fans on his properties.
The problem is that the average ceiling fan installation can take anywhere from 35 to 60 minutes, depending on your level of experience.
SKYX designed an open platform system where the installation takes roughly 30 seconds for all fixture types. That equates to a 6,000% percent reduction in time to install.
What was most important to the company was making a safer product that would reduce the potential for injury or death. Over the years, there have been hundreds of thousands of light fixture and ceiling fan installation-related injuries-everything from falling off of a ladder, electrocution, or improper wiring that led to a fire.
The Safe-Smart Solution
With the team's innovation, SkyPlug was launched by SQL (now dba Sky Technologies Inc.) and is poised to change and improve the way every ceiling fan and light fixture will be installed in the future.
It's basically the concept of your everyday electrical outlet, redesigned, and now on your ceiling-but the technology will be used in every home, business, cruise ship, hotel, hospital, and commercial real estate project for decades to come, once National Electric Code (NEC) certification is in hand. With certification from the regulating body of our national electric certification authority, there is a high likelihood that every lighting manufacturer, builder, architect, and engineer will use or specify the SkyPlug in every new project designed and built.
The Sky team has been through nine rounds with the NEC, and nine changes have been made to the NEC code to redefine it to reflect SkyPlug's design capabilities. The product redefines the NEC code, and the team is hopeful that the tenth time is a charm.
Sky succeeded in designing the product, but having a good design does not guarantee instant success.
So they used a multi-pronged approach to get there.
Three Steps to Success
One, Sky knew that the last product to be certified by the NEC was the ground fault interrupter (GFI) breaker in the 1980s. As you probably know, all structures have GFI breakers in the kitchen, garage, bathroom-basically anywhere where there is electricity and water (and the risk of electrocution).
The GFI breaker is not a choice. It is the required standard.
This makes it a shoo-in for guaranteed adoption.
Let's not stop there.
Second, SKYX studied what some of the most successful innovators have done throughout history, making their path to success almost inevitable. SKYX uses the example of the airbag system in the automobile.
The inventor of the airbag system did not hustle his design to each automotive manufacturer. He went to the insurance companies and the regulators for the auto industry with mountains of data proving his design reduced injury in the event of a collision or even loss of life. Which ultimately meant less cost for insurers as well. In the race to revolutionize an industry, some companies fail simply because there are more prominent and better-financed competitors.
Third, SKYX was smart enough to recognize that a good design does not make for instant success.
They partnered with a company that knows a thing or two about licensing and manufacturing...
A little company called GE.
Significantly Undervalued Stock
Sky Technologies has attracted a talent pool of executives, advisors, board of directors, designers, and innovators that should impress anyone regardless of their personal views or standards.
When you learn all of the potential applications of Skyplug and why it makes so much sense to be part of this solution, you will understand why I believe the stock is significantly undervalued at its current price level. As an investor with a long-term view, I see $SKYX as an opportunity to get in early on the ground floor of a company that will revolutionize not one but potentially multiple industries.
Sky Technologies has a clean cap structure and doesn't have a ballooned share count with death spiral financing.
Technically, after the recent IPO, there is not a lot of historical data to analyze. In a very volatile nervous market, the share price is in consolidation mode and holding up better than most stocks in this environment. There is substantial insider participation and a wide mote of protection because the NEC safety certification almost de-risks the investment.
Update at press time: With the time it took me to edit the interview and this article, the stock price broke technical support. That created a flush in the stock on a relatively light volume of around 270k thousand shares. SKYX has nearly one hundred million outstanding (fully diluted), 270 thousand shares traded does not seem like a high level of conviction during this recent sell-off. I took advantage of what I viewed as a tremendous opportunity to start building a position during last week's unsubstantiated sharp decline in the SKYX share price.
I highly recommend watching this video and deciding if Sky Technologies is indeed another "Hidden Gem!" I believe that, as Rani eloquently put it during our interview, the sky is truly the limit.
After you see Rani's passion and understand how much opportunity lies ahead for Rani and Sky Technologies Inc., put $SKYX on your watchlist. Maybe dip your toe in with a starter position, and-as Sky executes its strategy-consider adding to that starter position.
As I said earlier, I view this as a long-term hold that I will buy and hold for years to come, opportunistically adding to my holding at various levels as I deem worthy.
Source: SKYX 5.43 ▲ +0.37% Unnamed (tradingview.com)
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