SKYX Platforms (SKYX) to be a Supplier for New York Residential Project

SKYX Platforms Corp. (NASDAQ:SKYX) is one of the 10 best penny stocks that could triple your money.

On March 11, SKYX Platforms Corp. (NASDAQ:SKYX) announced that it will supply its technologies to a new residential project in Pittsford, New York. The development project is led by Daniele Management & Development Group, which will include 171 units and a range of modern amenities.

SKYX is expected to provide around 10,000 units of its smart plug-and-play technologies, including lighting and related products, to support a more advanced, tech-enabled living environment across the project.

Back on February 19, SKYX Platforms Corp. (NASDAQ:SKYX) provided a corporate update covering recent events and future initiatives. Since September 30, the company has brought in over $33 million in cash from institutional and existing investors. This included a $25 million investment by one institutional investor at $2.50 per share of straight common stock, with no warrants. The Shaner Group, which owns and develops more than 70 hotels worldwide, led the $16.5 million investment.

SKYX Platforms Corp. (NASDAQ:SKYX) also extended and converted $13.5 million in notes that were coming due. This pushed out the maturity to 2030. The company will be releasing new AI-based software for its e-commerce site, which includes 60 websites. This is expected to increase conversion rates and sales by as much as 30 percent.

SKYX Platforms Corp. (NASDAQ:SKYX) provides a chain of safe-smart platform technologies. With its first- and second-generation technologies, electrically wired devices such as light fixtures and ceiling fans are installed and plugged into ceiling electrical outlet boxes. Additionally, it also supplies universal power plugs and receptacle products.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. Follow Insider Monkey on Google News.