Company: BKYI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017209
Chunk: 41

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 41
---
 provided a full valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized.
    
   Spain
   Due to the current loss for the three months ended  March 31, 2025, the Company did not record income taxes.  

    16  SUBSEQUENT EVENTS 

   During  April 2025, 16,926 shares of restricted common stock were forfeited by employees who left the Company before the lapse of the restriction period applicable to such shares.
    
   On  May 8, 2025, the Company issued 11,691 shares of common stock to its directors in payment of meeting fees. Additionally, the Company issued an aggregate of 12,500 shares of restricted stock to new employees with three-year vesting. All the shares were issued at $0.77 the closing price on  May 8, 2024, as reported on the Nasdaq Capital Market. 
    
   The Company has reviewed subsequent events through the date of this filing. 

     14

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words “anticipate,” “believe,” “should,” “estimate,” “will,” “may,” “future,” “plan,” “intend” and “expect” and similar expressions generally identify forward-looking statements. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to continue as a going concern; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology and identity access management industries; market acceptance of biometric products generally and our products under development; our ability to convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to migrate Swivel Secure customers to BIO-key and Portal Guard offerings; our ability