Sky Century Issues 4.1M Shares to CEO to Settle $205K Unpaid Salary
SKYI has more than doubled off its 52-week low of $0.011.
Summary
Sky Century's CEO took 4.1 million shares at $0.05 instead of $205,000 in owed salary, cutting a cash liability the company could not fund but diluting existing holders by roughly 29%.
Key Events · Financing and Capital Events · SKYI
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CEO Salary Converted to Stock
The Board approved converting $205,000 of accrued unpaid salary owed to President/CEO Nataliia Petranetska into 4,100,000 shares at $0.05 per share; the shares were issued October 16, 2026.
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Roughly 29% Dilution
With the 4.1M new shares, total shares outstanding reach 14,229,357, diluting existing holders' stake by about 29% (4.1M / 14.23M).
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Cash Liability Eliminated
The conversion removes a $205,000 salary obligation from the balance sheet — meaningful for a company that reported only $264 in cash and a going-concern warning in its July 2026 10-Q.
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Conversion Priced Near Market
At $0.05, the conversion price sits just below today's $0.0552 quote, so the shares were issued at roughly market rather than at a premium.
Analysis · SKYI · Trade & Services
Why it matters: the CEO converted $205,000 of owed salary into 4.1 million shares at $0.05, roughly 29% of the 14.23 million shares now outstanding (4.1M / 14.23M). That erases a cash obligation the company could not have paid, given only $264 in cash and a going-concern warning in its last 10-Q. Existing holders bear the trade-off in heavy dilution, and with the $0.05 conversion price just below today's $0.0552 quote, the new shares are effectively at-market rather than at a premium. Insiders now hold a larger slice of a company whose equity is being used in place of cash.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 29% of the 1517 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.52%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SKYI was trading at $0.06 on OTC in the Trade & Services sector, with a market capitalization of approximately $414K. The 52-week trading range was $0.01 to $75.90. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.