Company: BKYI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001437749-25-026549
Chunk: 32

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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 and the dependence by the Company on its ability, to obtain additional financing to fund its operations after the current cash resources are exhausted raises substantial doubt about the Company's ability to continue as a going concern. The Company has lowered expenses through decreasing spending in marketing, and research and development. In addition, the Company has purchased inventory for projects in Nigeria, which have been delayed in deployment, and is, therefore looking into other markets and opportunities to sell or return the product to generate additional cash.   The accompanying financial statements have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern, and assumes continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has suffered substantial net losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company’s ability to continue as a going concern. Recoverability of a major portion of the recorded asset amounts shown in the accompanying balance sheet is dependent upon the Company’s ability to increase its revenue and meet its financing requirements on a continuing basis and become profitable in its future operations. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

       3. 
       REVENUE FROM CONTRACTS WITH CUSTOMERS 

   Disaggregation of Revenue
    
   The following table summarizes revenue from contracts with customers for the three-month periods ended  June 30, 2025 and  June 30, 2024:

        North 

        June 30, 

        America 

        Africa 

        EMESA* 

        Asia 

        2025 

        Services 
        
       $
       220,138

       $
       63,482

       $
       37,743

       $
       633

       $
       321,996

        License fees 

       344,674

       -

       461,413

       -

       806,087

        Hardware 

       50,443

       -

       470,281

       48,100

       568,824

        Total revenues 
        
       $
       615,255

       $
       63,482

       $
       969,437

       $
       48,733

       $
       1,696,907