BIO-Key International Inc

NASDAQ:BKYIUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Accrued liabilities 1,254,415 1,305,848 Note payable 2,164,693 - Government loan -- BBVA Bank, current portion 141,854 138,730 Deferred revenue, current 719,846 414,968 Operating lease liabilities, current portion 24,545 37,829 ------------ ------------ Total current liabilities 5,870,007 3,213,389 ------------ ------------ Deferred revenue, long term 240,664 28,296 Deferred tax liability 22,998 22,998 Government loan -- BBVA Bank -- net of current portion 83,901 188,787 Operating lease liabilities, net of current portion 49,091 - Total non-current liabilities 396,654 240,081 ------------ ------------ TOTAL LIABILITIES 6,266,661 3,453,470 ------------ ------------ Commitments and Contingencies STOCKHOLDERS' EQUITY Common stock -- authorized, 170,000,000 shares; issued and outstanding; 3,109,288 and 1,032,777 of $.0001 par value at September 30, 2024 and December 31, 2023, respectively 311 103 Additional paid-in capital 127,981,436 126,047,851 Accumulated other comprehensive loss 74,699 22,821 Accumulated deficit (127,923,404) (125,007,210) ------------ ------------ TOTAL STOCKHOLDERS' EQUITY 133,042 1,063,565 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,399,703 $ 4,517,035 ============ ============ All BIO-key shares issued and outstanding for all periods reflect BIO-key's 1-for-18 reverse stock split, which was effective December 21, 2023. BIO-KEY INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Nine Months Ended September 30, ----------------------------------- 2024 2023 ------------------ -------------- CASH FLOW FROM OPERATING ACTIVITIES: Net loss $ (2,916,195) $ (6,149,024) Adjustments to reconcile net loss to net cash used for operating activities: Depreciation 69,115 38,213 Amortization of intangible assets 233,269 217,978 Change in fair value of convertible note - (264,706) Amortization of capitalized contract costs 128,953 126,057 Amortization of Note Payable 64,000 - Reserve for inventory (98,875) 2,500,000 Operating leases right-of-use assets (58,950) 146,890 Share and warrant-based compensation for employees and consultants 162,614 163,584 Stock based directors' fees 9,003 39,006 Deferred income tax benefit - (20,000) Bad debts - 550,000 Change in assets and liabilities: Accounts receivable (398,753) (434,989) Due from factor 50,302 (13,072) Capitalized contract costs (329,743) (107,336) Deposits (7,975) - Inventory 58,796 145,156 Prepaid expenses and other (18,695) (51,831) Accounts payable 248,640 488,417 Accrued liabilities (51,433) 327,131 Income taxes payable - 62,811 Deferred revenue 517,246 128,253 Operating lease liabilities (60,827) (154,460) -------------- ------------- Net cash used in operating activities (2,399,508) (2,261,922) -------------- ------------- CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (23,047) - -------------- ------------- Net cash used in investing activities (23,047) - -------------- ------------- CASH FLOW FROM FINANCING ACTIVITIES: Proceeds from Note Payable 2,000,000 - Offering costs (147,862) (25,434) Proceeds for exercise of warrants 1,908,099 - Receipt of cash from Employee stock purchase plan 1,939 13,934 Repayment of government loan (101,762) (113,885) -------------- ------------- Net cash used in financing activities 3,660,414 (125,385) -------------- ------------- Effect of exchange rate changes 51,878 58,871 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,289,737 (2,328,436) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 511,400 2,635,522 -------------- ------------- CASH AND CASH EQUIVALENTS, END OF PERIOD $ 1,801,137 $ 307,086 ============== ============= All BIO-key shares issued and outstanding for all periods reflect BIO-key's 1-for-18 reverse stock split, which was effective December 21, 2023.

Identity and Access Management and Biometric Solutions Provider BIO-key Hosts Q3 Investor Call Friday, November 15th at 10am ET

HOLMDEL, N.J., Nov. 07, 2024 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management and Identity-Bound Biometric solutions, will host its Q3 2024 investor call Friday, November 15th at 10 a.m. ET. Results will be released after the market close on Thursday. Mike DePasquale, Chairman & CEO and Cecilia Welch, CFO will lead the conference call and Q&A session.