Company: BKYI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001437749-25-026549
Chunk: 6

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 approximately $970,000 and $485,000, respectively. Revenue recognized during the three months and six months ended  June 30, 2025 from amounts included in deferred revenue at the beginning of the period was approximately 122,000 and 321,000, respectively. Revenue recognized during the three and six-months ended  June 30, 2024 from amounts included in deferred revenue at the beginning of the period was approximately $157,000 and $431,000, respectively.

       4. 
       ACCOUNTS RECEIVABLE 

   Accounts receivable are carried at original amount less an estimate made for credit losses based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for credit losses by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, current economic conditions and other relevant factors, including specific reserves for certain accounts. Accounts receivable are written off when deemed uncollectible.
    
   Accounts receivable at  June 30, 2025 and  December 31, 2024 consisted of the following: 

        June 30, 

        December 31, 

        2025 

        2024 

        Accounts receivable 
        
       $
       1,366,787

       $
       1,351,482

        Allowance for credit losses 

       (383,253
       )

       (633,253
       )

        Accounts receivable, net of allowances for credit losses 
        
       $
       983,534

       $
       718,229

   Bad debt expenses are recorded in selling, general, and administrative expense.

       5. 
       SHARE-BASED COMPENSATION 

   The following table presents share-based compensation expenses included in the Company’s unaudited condensed interim consolidated statements of operations:

        Three Months Ended June 30, 

        2025 

        2024 

        Selling, general and administrative 
        
       $
       17,715

       $
       39,383

        Research, development and engineering 

       4,122

       9,388

       $
       21,837

       $
       48,771

        Six Months Ended June 30, 

        2025 

        2024 

        Selling, general and administrative 
        
       $
       62,546

       $
       87,025