SQL Technologies Corp., which does business as Sky Technologies, said on Wednesday it applied to list its shares on the Nasdaq stock market.
SQL Technologies develops connect devices used in the installation of lighting fixtures and ceiling fans. Its products include lighting, fans, and safety quick light devices. The company also said its SkyHome app can control products, adjusting lighting, sound and scheduling, among others functions.
“Developing and maintaining a strong intellectual property position is one of the most important elements of our business,” the company said, adding it has over 60 U.S. and global patents and patent applications.
The company said it had revenue of $3.8 million in the year ended Dec. 31, 2019, and $258,376 in the year ended Dec. 31, 2020.
In 2019 and 2020, the company said it “opted to sell through our existing inventory of discontinued products to facilitate our planned transition into our new patented product lines,” adding, “as such, the decrease in revenues was directly related to the planned reduction of discontinued inventory.”
The company didn’t give an expected size for its offering, nor did it provide an anticipated price range.
The Benchmark Co. is listed as the offering’s underwriter.