Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 150

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1B
Chunk 150
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23, 2025

    41

BIO-key International, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

      December 31,  
   2024    2023  
 ASSETS         
 Cash and cash equivalents  $437,604  $511,400 
 Accounts receivable, net   718,229   1,201,526 
 Due from factor   74,170   99,320 
 Inventory, net of reserve   378,307   445,740 
 Prepaid expenses and other   278,648   364,171 
 Total current assets   1,886,958   2,622,157 
 Equipment and leasehold improvements, net   140,198   220,177 
 Capitalized contract costs, net   409,426   229,806 
 Deposits and other assets   7,976   - 
 Operating lease right-of-use assets   73,372   36,905 
Investments  5,000,000   - 
 Intangible assets, net   1,097,630   1,407,990 
 Total non-current assets   6,728,602   1,894,878 
 TOTAL ASSETS  $8,615,560  $4,517,035 
         
 LIABILITIES         
 Accounts payable  $818,187  $1,316,014 
 Accrued liabilities   1,278,732   1,305,848 
 Note payable   1,525,977   - 
 Government loan – BBVA Bank, current portion   132,731   138,730 
 Deferred revenue - current   773,267   414,968 
 Operating lease liabilities, current portion   24,642   37,829 
 Total current liabilities   4,553,536   3,213,389 
 Deferred revenue, net of current portion   196,237   28,296 
 Deferred tax liability   -   22,998 
 Government loan – BBVA Bank, net of current portion   44,762   188,787 
 Operating lease liabilities, net of current portion   48,994   - 
 Total non-current liabilities   289,993   240,081 
 TOTAL LIABILITIES   4,