Company: BKYI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001437749-25-035227
Chunk: 17

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 September 30,    September 30,  
   2025    2024    2025    2024  
                 
 Stock options   1,857   3,007   1,857   3,007 
 Warrants   3,995,685   2,739,362   3,995,685   2,739,362 
 Total   3,997,542   2,742,369   3,997,542   2,742,369 

    12.  STOCKHOLDERS’ EQUITY 

   Issuances of Common Stock
    
   During the nine-month periods ended  September 30, 2025, and 2024, there have not been any shares of common stock issued to anyone outside the Company, except as noted in this Note 12.
    
   On  June 18, 2021, the stockholders approved the Employee Stock Purchase Plan. Under the terms of this plan, 43,334 shares of common stock are reserved for issuance to employees and officers of the Company at a purchase price equal to 85% of the lower of the closing price of the common stock on the first day or the last day of the offering period as reported on the Nasdaq Capital Market. Eligible employees are granted an option to purchase shares under the plan funded by payroll deductions. The Company  may suspend or terminate the plan at any time, otherwise the plan expires  June 17, 2031. On  June 30, 2025, 1,251 shares were issued to employees which resulted in a $876 non-cash compensation expense for the Company. On  June 28, 2024, 1,390 shares were issued to employees which resulted in a $456 non-cash compensation expense for the Company.

       14

   Issuances of Restricted Stock
    
   Restricted stock consists of shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. The fair value of nonvested shares is determined based on the market price of the Company's common stock on the grant date. Nonvested stock is expensed ratably over the term of the restriction period.
    
   During the nine-month periods ended  September 30, 2025 and 2024, the Company issued 280,