Please be advised that this conference call will contain statements that are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Please note this event is being recorded. I would now like to turn the conference over to Rani Kohen, Founder and Executive Chairman. Please go ahead. Good afternoon, everyone. We're happy to have you all here in our Q2 earnings call 2025. We will start with our President, Steve Schmidt, with a general overview about some highlights of this quarter. Thank you. Steve? Rani, thank you, and good afternoon, everyone, on the call. It's my pleasure to be with you here this afternoon. What I'm going to do is cover just briefly at a very high level some very good results from a quarter standpoint on the financial side, and then talk to you about some key updates relative to the business and progress we've been making. As an overview on the key financials, for the quarter, our revenue was up 15% versus Q1, good growth. Our cash position was up $3.4 million, growing significantly versus prior quarter. Our gross profit was up 23%, which shows significant progress on that side of the financial ledger. Our net cash used was down significantly, down 54%, primarily due to some favorability in payables and the improvement in gross profit. Leonard Sokolow, our Chief Executive Officer, will be going into more detail on the financials here in just a little bit. Let's talk now about the business perspective and the key progress we've made. During the quarter, it's important to talk about our patents, and significant progress was made. We have granted eight newly issued U.S. and global patents, and we now have over 100 patents and pending applications with 45 issued patents, which is absolutely critical to maintain the momentum of our business. It's very important that I mention to everyone and note that each of our 100 patents and pending applications is based on three major factors: safety, massive addressable market, the TAM, and global applications, all of which will drive future growth for this company. We also continue our collaboration with Home Depot, which I've spoken about in our past updates with our advanced smart plug-and-p lay products. We're in the process of growing our product assortment at Home Depot to offer a variety of our advanced plug-and-play smart products, including ceiling fans, heating fans, light fixtures, exit signs, emergency lights, advanced ceiling and electrical outlet, recessed lights, down lights, indoor/outdoor, you name it, we've got it. We're very pleased that this growth continues as we expand our retail presence. We expect our products to be in over 40,000 unit-sized homes by the end of Q3 of 2023 in the U.S. and Canada through retail and pro segments. As I mentioned, we raised, and we thought this last quarter, the $15 million led by the Shaner Group, owner and developer of more than 70 hotels, including 60 Marriotts. Important to add that we're making progress with this segment, and we hope that we can share some progress soon as a major Marriott developer. Our safety code standardization team, a very important area of focus for us, continues to make progress and is receiving significant support from a new prominent leader with its government safety organization process for safety mandatory standardization in homes and buildings of ceiling outlets and the receptacle technology. If you recall last quarter, we announced and said to you that we'd have some major announcements relative to a major collaboration, and we did. We have announced that major collaboration with a Miami $3 billion mixed-use urban smart home city project, a significant opportunity for the company, and we are working on some additional large projects that we hope to be able to talk to you soon about. A lot of progress is being made and good financial results. With that, what I'm going to ask Rani to do is come back on and really speak more granular regarding the patents, the code, and the Miami Smart City. Let me turn it back to Rani. Rani? Thank you, Steve. As Steve mentioned, we're happy with additional patents here, and I think the most important aspect is everything we invent here in SKYX has to do with safety first, a massive TAM, addressable market, and with a global application. We're proud to have over 100 patents, and that all fit into those two categories that is a contingency for anything we invent here. That's our core foundation, and this is why I think we got a lot of support from tremendous leaders. Steve is one of them, but as you know, former CEOs of Home Depot and Presidents of Disney World Parks, Hotels, Cruiser to the Resorts, and many other key members, including the National Electrical Code Head and American Lighting Association Head, and all of those good people are joining us here. Additionally, with the code, we are making some progress, and we have found out that there's two government safety organizations that are really one of them in charge on ladder falls and falls in general, and another one in charge of electrical and electronics. According to our code team, their general criteria is to save lives, mitigate injuries, and property damages. You know we are pursuing those aspects according to the criteria they probably need to find us too. We're working on this, and we have made some progress behind the scenes that hopefully we will be able to share with you sometimes, hopefully sooner than later. That's quite significant progress that our code team feels that we are doing behind the scenes with the mandatory application for our ceiling outlet and receptacle technology, all based on safety. Last but not least here for now is the smart city. We're very proud to really announce that collaboration. It's a major milestone for us, for the company. We're just sharing a picture here of this entire footprint in the heart of Miami. The ones that have it online, they can see downtown, they can see South Beach, and they can see Wynwood. Just next to Wynwood and Art Basel area, that's where that smart city is located from West of I-95 all the way to US 1. A huge footprint is a 200-year lease from the City of Miami. If they had to do it the old way to wire the entire community, it would take them probably several years or several, maybe several years more, but much more, several times more than what that will take with our product. In addition to this, they will also save not only a lot of time here, but I think we can do it in a much more cost-efficient way for them. I think we're bringing here the future, our all-in-one smart platform. We hope to have it in production in the next coming months. That is going to be a big factor here. As Steve mentioned, we expect to deploy 500,000 units between our smart and advanced products, all plug- and- play. That is going to include from smart all-in-one smart home platforms to other smart products and recessed lights, exit signs, emergency lights. It's all going to be part of that urban city. This is really a major milestone in the fact that we were able to compete in probably one of the leading cities in America here and land probably one of the largest smart cities in America too, based on our technology, working with those prominent developers that have a background of many huge projects. This is their probably landmark project for them and for sure for us. To collaborate with prominent developers, SG Holdings, and all their partnership is really, we're not taking it for granted. We're here doing together a project that I think is going to be a landmark in Miami. You know there's a lot of excitement around the city and with the mayors and everyone around that project because this really is going to redefine Miami as a city. Again, we're very proud to be part of it. With that being said, as Steve mentioned, we're progressing with Home Depot, progressing other things. We launched recently a plug-and-play advanced and also smart heater. We announced that we hope to have it very soon in the market here for this coming winter. It's an all-in-one product that provides the cool air for summertime and heat for winter. We also announced that we had some global collaborations on this, and there's some excitement around this product. We're happy to say it's in production, and we expect that product to land here soon. Some more slides of the smart city here before we wrap up. There's a train station, as the ones that have a screen can see, parks, restaurants, malls, hotels. We understand they're going to have a Home Depot there and a Publix. It's really, it's an urban smart city, huge train station with the Brightl ine in Miami. Again, tremendous, really, achievement for the team. I thank our team here for making that happen. Again, it's based on the razor and the blade model that we like to discuss. You have the razor, what we say, the ceiling receptacles for the ones that can see the slides. Once you have a ceiling receptacle, you can decide what you want to plug in, if it's a smart fixture or a smart platform, ceiling fan, a light fixture, or any other type of fixture. Really proud that we're able to deploy and lead that project. With that being said, I want to pass it to our CEO here, Leonard Sokolow, with some additional financial highlights. Thank you, Lenny. Great. Thank you, Rani. Appreciate that and that update. As Steve mentioned, we reported an increase of 15% with a record second quarter 2025 revenues of $23.1 million compared to $20.1 million for the first quarter of 2025. We continue to grow our market penetration in the U.S. and Canadian markets. Further to that, our growth has increased six comparable quarters from Q1 2024 to Q2 2025. That's been really good progress for us. With respect to cash, just to reiterate, as of June 30, the company reported $15.7 million in cash and cash equivalents and restricted cash as compared to $12.3 million as of March 31st, 2025. As is common with companies such as ours, when sales are converted into cash rapidly, we often refer to that as the Dell working capital model. We leverage our trade payable to finance our operations and to enhance our cash position and to lower our cost of capital. We have basically leveraged our e-commerce platform of our 60 websites among other methods to support this approach, as well as the support from strategic investors and insiders. We believe, and we've said this before, that we have sufficient cash to achieve our goal of becoming cash flow positive in 2025. To that end, our net cash used in operating activities for the second quarter ending June 30th, 2025, decreased sequentially by 54% to $2 million compared to $4.3 million in the first quarter of 2025. Contributing to that was that the gross profit for the second quarter ending June 30 increased sequentially by 23% to $7 million compared to the first quarter ending March 31, 2025. At the beginning of, we hope, positive momentum, the gross margin for the second quarter ending June 30, 2025, increased sequentially by 7% to 30.3% compared to the first quarter ending March 31st, 2025. Finally, the adjusted EBITDA loss for the second quarter, which is a loss before interest, taxes, depreciation, and amortization, and we adjust for share-based payments, which, of course, is a non-GAAP measure, decreased to $2.6 million or $0.02 per share as compared to $3.6 million or $0.04 per share in the first quarter of 2025. Rani, if I could maybe turn it over to you. Thank you, Lenny. We can open it up for Q&A. I think we have Gerry Sweeney here from ROTH Capital. You can go ahead, Gerry, and any questions, we're here for you. Gerry. Gerry, you see me? Yes. Is my line open now? Yes, you may proceed. Hey, guys. Thanks for taking my call and good afternoon. A couple of questions. I mean, obviously, you highlighted being cash, I think, cash flow break even this year. It looks like you're making some headway there. Can you maybe give us a little bit of a bridge from where we are today to cash flow break even? Is this accelerating sales? I did orders and a little bit of, you know, we also have some G&A was up a little bit in the quarter, but just want to understand how we go get to cash flow break even by the end of the year. Yeah, we are, as you can see, as Lenny mentioned here, we reduced some cash expenses on our end. That by itself is a major step that we want to continue, and we believe we will continue in that direction. Additionally, we expect to launch a few products very soon. One of them is the all-in-one and advanced and smart heater plug-and-play that, as I mentioned, has a ceiling fan for the summer, but more importantly, has a heater. As we mentioned, related to our patents, we always think about safety. That's a product that really is safe. Rather than having space heaters on the floor, you can have it in a safe location in the ceiling that warms up the entire room. There's great demand for that product from some big box retailers and others. We hope to let everyone know once we launch them. Based on these things, based on some things we're doing with our e-commerce platform, we feel that this winter can be a significant increase in revenues and in gross margins. That's what we believe and anticipate to happen in the next coming months. I got it. You know the standardized code or the mandatory standardization of the code, that's always been like a huge potential catalyst for you guys. I know there's been some movement on this over the last six months in different options. You did highlight, I think, the two government agencies where there could be some help in maybe achieving that. Could you give us a little bit more detail, as much as possible, as to what's going on there and maybe the path forward? Yeah. I'm sharing an interesting slide now, the ones that can see the slides. Those are prominent mandatory safety, mandatory standardizations that I think almost everyone knows. The plug- and- play, the plug for the wall, the Edison bulb that was with wires that we mentioned many times became the bulb socket, the GFCI that are in the bathrooms, something we maybe didn't mention before, for example. Every hairdryer in the U.S. over 20 years ago was forced to change the plug that goes to the wall to a block, a plug that's a very big plug with the GFCI receptacle on it. That became mandatory as well. Exit signs in buildings became mandatory. Emergency lights in buildings became mandatory. Airbags and seat belts. Many that joined us, all our leadership here, people know we have, you know, top Fortune 100 CEOs and executives here that invested with us several rounds and joined us all believe that this is just a matter of time. It's not an if, it's more a when because we met all the contingencies, including the ANSI, NEMA, including we got a generic name, WSCR. We got also NFPA, NEC, 10 votes, 10 segments into voted to the National Electrical Code. We met all the conditions. Now we believe there's some government organizations that can help expedite that process. Many of us believe it's more a when than an if. This is really the law. They forced every hairdryer to change a plug. You know what? They They had a plug, okay? The lighting industry and the smart home industry, you don't have even a plug. You go on ladders and you touch hazardous wires. I think that we're under the radar for a long time. Based on recent progress, we strongly believe that we're getting closer to this. Eventually, what will happen, as we said, hopefully sooner than later. We hope to have some news about this as soon as possible. Again, we need to wait and see. Got it. Just one more maybe question from me. You know, a big hire on your e-commerce platform from Amazon. Just any details on maybe some changes that are going there or tweaking or the opportunity that they bring to that to the e-commerce platform? Thanks. Yeah. We have a great e-commerce team. We have our Executive Chairman, Todd Johnson, that was running the show. Now he's focused on major platform changes. We felt that for e-commerce, we could bring a prominent leader in that industry, Huey Long. Huey really started as a buyer at Circuit City, became a business owner with a sourcing company overseas. His biggest customer was Amazon. He decided to sell it to the CEO of Circuit City, the business, and then announcing it to their biggest customer, Amazon, and Bezos said, "What are you doing? Come join us." What Huey did for them is really established the first Amazon brand, which is Basic. Today, Amazon has 50 brands, I think, but the largest one and the most famous one is Amazon Basic. They started their own brand by sourcing around the world. From that position, he also was running marketing and e-commerce for Walmart. Recently, for Ashley Furniture, growing their business to $1 billion online. Ashley Furniture is not only the stores that everyone knows, it's probably the biggest furniture wholesale company in America. They sell to most of the furniture names you know and projects. They're a multi-billion dollar company. The e-commerce platform became a $1 billion business, and Huey led it. Huey was excited from what we're doing here from the disruptive perspective, game-changing plug- and- play. We wanted someone more on the offense to help us here. We have two great talented people that are running the show. Huey is the CEO, running the offense very strongly, very strong on defense too. We have Todd, our Chairman, Todd Johnson, that's there forever as supporting Huey in everything we're doing. We really are blessed to have. We also have the founders of Bellamy that are working with us and also helping the company. We have really a tremendous team there. Huey here is the icing on the cake. Stay tuned with this. Hopefully, we'll have some more announcements when it comes to the e-commerce and some of the things we're doing there. I appreciate it, Rani. Always a pleasure talking to you. Thank you, Gerry. Thank you. A pleasure talking to you as well. Thank you. Ladies and gentlemen, that was Gerry Sweeney with ROTH Capital. We have our next guest. We have now Pat McCann from NOBLE. Hey, thanks guys for taking my questions. First, I wanted to just touch on the Parrot Uncle manufacturing partnership for the ceiling heaters and fans. I was wondering if you could talk about to what extent getting that product available. Are there any new partnerships as far as with developer? You mentioned that that would be something that the big box retailers would want in their stores and want to be able to start selling once it's available. I'm also wondering, are there any partnerships with other developers that might potentially hinge on that product becoming available? What other opportunities might that open up, if any? Yes. We are working on several channels with that advanced and smart plug-and-play heater all in one, including global. That collaboration with Parrot Uncle opens markets here in the U.S., but definitely global markets. They have great businesses in Europe and Asia. We think that can be a global product because many places know that people don't use AC or don't have AC or don't want a central AC, want to heat in one room in a safe way. The same for the summer. Many see in that product some great potential. Yes, we are working with several big boxes and other channels that we hope to be able to announce soon once those heater fans land towards the winter here. We are definitely working also with some builders and developers that like our entire assortment and also very much like the smart heater fan and other products as well. We hope to have some announcements in the coming weeks or months with projects with some channels, new channels we're opening up. Excellent. I was also wondering, with regard to the smart city development, does that collaboration serve as a bit of a proof point for other developers that maybe would not have necessarily considered working with you previously, but upon seeing you be involved in that project, you're hitting other developers' radar screens? You know, are you seeing any extra traction with new partnerships with builders that you might think is a direct result of making that such a large announcement and being part of such a big project? Thank you, Pat. That's a perfect question for us because we must say we're all smiling here in the room when we listen to that question. Yes, we are getting great interest and we're working, as Steve mentioned. Steve said, as I mentioned, wait for some good major news for us in that last quarter call. He said that and he said we came with the smart city. As he said here earlier, we're working on some other major aspects that are related to this. Yes, we got a lot of recognition and a lot of good discussions, and we're exploring many opportunities based on that smart city announcement. Perfect question for us, and it's absolutely yes. Excellent. I'll end on a high note. I appreciate all the extra color. Okay. Thank you. Go ahead. Okay. Can you show me the other screen? I think we're great with questions here. We very much appreciate everyone's time, and we're looking forward to our next call with you guys or other updates in between those calls. Thank you, Steve Schmidt, our President, Lenny Sokolow, CEO. Thank you very much, and hopefully, we'll see you or talk to you soon in the next call. Thank you. Thank you. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.