Electrical Tech Co. Teams With A-Lister to Make New Smart Product
Every once upon a time comes, new, groundbreaking technology becomes the new industry standard. In 2007, Steve Jobs brought us the iPhone. Now Sky Technologies has pioneered the safe-smart SkyPlug.
Sky 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 20 minutes for a seasoned pro or up to 45 minutes if you are a novice.
Rani 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.
Most important to him was making a safer product that would reduce the potential for injury or death. Over the years, hundreds of thousands of light fixtures and ceiling fan installation-related injuries — everything from falling off a ladder, electrocution, or improper wiring that led to a fire that resulted in someone's death have been documented through insurance claims.
The Safe-Smart Solution
With his innovation, Sky's Skyplug is poised to change and improve how every ceiling fan and light fixture will be installed in the future. The concept is based on the typical electrical outlet we use every day. The idea is the same, but the design is unique because you have to consider the weight and movement of the light fixture or ceiling fan. Rani and his team designed a system that has a 200-pound rating for light fixtures and ceiling fans. With the help of a collar system and a half twist motion, there is an additional 200-pound rating and the reduction of any wobble when you have the fan set on high speed. This technology could wind up being 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 accreditation 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.
Rani and his team have been through nine rounds with the NEC, and nine changes have been made to the NEC code to redefine it to reflect Rani's design capabilities. The product redefines the NEC code, and Rani is hopeful that the tenth time is a charm.
Rani succeeded in designing the product, but having a good design does not guarantee instant success.
So Rani used a multi-pronged approach to get there.
3 Steps to Success
1. Rani 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, and bathroom, not by choice but because it is the standard in safety protecting people from being electrocuted in any room where there could be electricity and water. The safety aspect of the GFI breaker made it nearly a shoo-in for adoption and a standard in the industry.
2. Rani studied what some of our most successful innovators have done throughout history, making their path to success almost inevitable. Rani 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.
3. Rani was smart enough to recognize that a good design does not make for instant success. Rani partnered with a company that knows a thing or two about licensing and manufacturing.
A little company called GE.
'Significantly Undervalued' Stock
Rani 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 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.
**(Update: 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. The pull to 3.41 allowed me to get my starter position filled.) **
There is substantial insider participation and a wide mote of protection because the NEC safety certification almost de-risks the investment.
I highly recommend watching the video and deciding if this is another "Hidden Gem!" I believe that, as Rani eloquently put it during our interview, "the Sky is the limit. "
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.
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