Company: BKYI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001437749-25-026549
Chunk: 12

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 the 2024 Note to approximately $338,400.  All of the partitioned notes were subsequently exchanged for shares of common stock.

       11. 
       EARNINGS (LOSS) PER SHARE - COMMON STOCK (“EPS”) 

   The Company’s basic EPS is calculated using net income (loss) available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of preferred stock.
    
   Items excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares, and they were also excluded from diluted earnings per share due to anti-dilution:

       Three Months ended    Six Months Ended  
   June 30,    June 30,  
   2025    2024    2025    2024  
                 
 Stock options   1,857   3,373   1,857   3,373 
 Warrants   3,745,958   1,722,695   3,745,958   1,722,695 
 Total   3,747,815   1,726,068   3,747,815   1,726,068 

    12.  STOCKHOLDERS’ EQUITY 

   Issuances of Common Stock
    
   During the six-month periods ended  June 30, 2025, and 2024, there have not been any shares of common stock issued to anyone outside the Company, except as noted in this Note 12.
    
   On  June 18, 2021, the stockholders approved the Employee Stock Purchase Plan. Under the terms of this plan, 43,334 shares of common stock are reserved for issuance to employees and officers of the Company at a purchase price equal to 85% of the lower of the closing price of the common stock on the first day or the last day of the offering period as reported on the Nasdaq Capital Market. Eligible employees are granted an option to purchase shares under the plan funded by payroll deductions. The Company  may suspend or terminate the plan at any time, otherwise the plan expires  June 17, 2031. On  June 30, 2025,