Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 305

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 305
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 future. The Company generally relies on cash from operations, commercial debt, and equity offerings to the extent available, to satisfy its liquidity needs and to meet its payment obligations. The Company  may engage in public or private offerings of equity or debt securities to maintain or increase its liquidity and capital resources. However, financial and economic conditions, including those resulting from the current inflationary environment and current geopolitical tension, could impact our ability to raise capital or debt financing, if needed, on acceptable terms or at all.

        F-
        10

         BK TECHNOLOGIES CORPORATION

         YEARS ENDED
         DECEMBER 31, 2024 AND
        2023

         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

         (in thousands, except share data and percentages)

       1. Summary of Significant Accounting Policies (Continued)

   Reverse Stock Split   On  March 23, 2023, the Board of Directors approved a one (1)-for-five (5) reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding shares of the Company’s Common Stock, and on  April 4, 2023, the Company filed with the Secretary of State of the State of Nevada a Certificate of Change to its Articles of Incorporation to effect the Reverse Stock Split.   The Company executed the Reverse Stock Split, which became effective at 5:00 p.m. Eastern Time on  April 21, 2023. Shares of Common Stock underlying outstanding stock options and restricted stock units were proportionately reduced, and the respective exercise prices were proportionately increased in accordance with the terms of the agreements governing such securities. Accordingly, all shares and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been retroactively adjusted, where applicable, to reflect the Reverse Stock Split.

   Advertising and Promotion Costs   The cost for advertising and promotion is expensed as incurred. Advertising and promotion expenses are classified as part of selling, general and administrative (“SG&A”) expenses in the accompanying consolidated statements of operations. For the years ended  December 31, 2024 and 2023, such expenses totaled $496 and $478, respectively.

   Engineering, Research and Development Costs   Included in SG&A expenses for the years ended  December 31, 2024 and 2023 are engineering, research and development costs of $7,841 and $9,334, respectively.

   Share-Based Compensation   The Company accounts for share-based