Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 152

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 152
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 respond to those risks.  Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements.  Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.  We believe that our audit provides a reasonable basis for our opinion.
 
We have served as the Company’s auditor from 2015 to 2024.
 
/s/ MSL, P.A.
 Orlando, Florida March 14, 2024

    F-3

BK TECHNOLOGIES CORPORATION 

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data) 

      December 31,    December 31,  
   2024    2023  
         
 ASSETS         
         
 Current assets:         
 Cash and cash equivalents  $7,075  $3,456 
 Trade accounts receivable, net   7,349   7,902 
 Inventories, net   17,636   23,952 
 Prepaid expenses and other current assets   4,881   1,892 
 Total current assets   36,941   37,202 
         
 Property, plant and equipment, net   4,911   5,366 
 Operating lease right-of-use (ROU) assets   1,128   1,560 
 Investments   —   742 
 Deferred tax assets, net   6,788   4,116 
 Capitalized product development cost   1,321   — 
 Other assets   410   422 
 Total assets  $51,499  $49,408 
         
 LIABILITIES AND STOCKHOLDERS’ EQUITY         
         
 Current liabilities:         
 Accounts payable  $6,327  $9,822 
 Accrued compensation and related taxes   2,289   1,302 
 Accrued warranty expense   1,008   722 
 Accrued other expenses and other current liabilities   1,894   363 
 Short-term operating lease liabilities   571   525 
 Credit facility   —   6,476 
 Notes payable-current portion   —   71 
 Deferred revenue   1,885   1,137 
 Total current liabilities   13,974   20,418