Sharps Technology Inc.

Sharps Technology, Inc. has officially rebranded to SkyAI, Inc., effective May 26, 2026, with its common stock now trading under the ticker symbol SKYA on the Nasdaq Capital Market. This name change reflects a major strategic transformation, shifting the company's focus from its legacy operations to building an AI-driven agentic finance platform. The new platform is designed to serve emerging markets across Asia, Latin America, and Africa, leveraging artificial intelligence and blockchain technology, including stablecoin rails and the Solana network, to provide financial services and education. The company has also established an operational headquarters in Hong Kong to facilitate licensing and regional expansion, while acknowledging significant risks and uncertainties inherent in this strategic pivot and the integration of AI.

Sharps Technology Inc. announced the appointment of Arthur Levine as its Chief Financial Officer, effective May 22, 2026. Mr. Levine had been serving as interim CFO since February 2026. His employment agreement includes an annual base salary of $400,000, an annual cash bonus of up to 50% of his base salary based on performance, and eligibility for equity-based compensation. The agreement also details severance provisions, including a lump sum payment and accelerated equity vesting under certain termination scenarios.

SkyAI, Inc., a financial technology company, announced the appointment of Arthur Levine as its new Chief Financial Officer, effective immediately. Mr. Levine brings over 30 years of experience in finance leadership, including guiding companies through IPOs and capital raises. His appointment is expected to strengthen SkyAI's financial operations and support its global expansion strategy, particularly in serving the Global South.

Sharps Technology Inc. reported a net loss of $86.2 million for the first quarter of 2026, a significant decline from a net income of $1.9 million in the prior year, primarily driven by substantial unrealized and realized losses on digital commodities. The company generated $192,780 in net product revenue and $3.1 million in staking revenue. Total assets decreased to $181.0 million from $269.1 million at year-end 2025, largely due to a decrease in the fair value of digital commodities. The company also repaid a $3.1 million margin loan and conducted a $1.6 million share repurchase.