Company: BKYI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001437749-25-035227
Chunk: 27

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
non-recurring write-off of administration fees.

Research, development and engineering

      Three Months Ended 

      September 30, 

      2025 

      2024 

      $ Change 

      % Change 

      Research, development, and engineering 
      
     $
     683,620

     $
     652,174

     $
     31,446

     5
     %

For the three months ended September 30, 2025, research, development, and engineering costs increased 5% to $683,620 compared to $652,174 in the corresponding period in 2024. The increase consisted primarily of professional services and personnel costs, offset by a decrease in rent costs.

Other income (expense)

      Three Months Ended 

      September 30, 

      2025 

      2024 

      $ Change 

      % Change 

      Interest income 
      
     $
     515

     $
     2

     $
     513

     25650
     %

      Loan fee amortization 

     (60,000
     )

     (60,000
     )

     -

     0
     %

      Interest expense 

     (13,174
     )

     (98,556
     )

     85,382

     87
     %

      Other income (expense) 
      
     $
     (72,659
     )
      
     $
     (158,554
     )
      
     $
     85,895

     54
     %

Other income (expense) for the three months ended September 30, 2025 consisted of interest income of $515, interest expense of $13,174 on the note payable and the government loan through the BBVA bank, and a loan fee amortization amount of $60,000. Other income (expense) for the three months ended September 30, 2024 consisted of interest income of $2 and interest expense of $98,556 comprised of approximately $4,200 on the government loan through the BBVA bank and the balance on the 2024 Note, and a loan fee amortization amount of $60,000.

       20

Nine MONTHS ENDED September 30, 2025 AS COMPARED TO September 30, 2024

Consolidated Results of Operations - Percent Trend

      Nine Months Ended September 30,