Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 98

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 98
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  (3.22)

   The restated line items of the consolidated statements of comprehensive income for the six-month period ended  June 30, 2023 and nine-month period ended  September 30, 2023 are as follows:

       Originally Reported    Adjustment   Restated 
   Six Months Ended    Nine Months Ended    Six Months Ended    Nine Months Ended    Six Months Ended    Nine Months Ended  
   June 30, 2023    September 30, 2023    June 30, 2023    September 30, 2023    June 30, 2023    September 30, 2023  
                         
 License fees  $3,714,327  $4,664,341  $(900,000) $(900,000) $2,814,327  $3,764,341 
 Total revenues   5,012,696   6,829,804   (900,000)  (900,000)  4,112,696   5,929,804 
 Cost of hardware - reserve   -   -   1,500,000   2,500,000   1,500,000   2,500,000 
 Total costs and other expenses   1,426,385   1,902,989   1,500,000   2,500,000   2,926,385   4,402,989 
 Gross profit   3,586,311   4,926,815   (2,400,000)  (3,400,000)  1,186,311   1,526,815 
 Selling, general and administrative   3,874,896   5,422,272   200,000   400,000   4,074,896   5,822,272 
 Total Operating Expenses   5,123,237   7,229,298   200,000   400,000   5,323,237   7,629,298 
 Operating loss   (1,536,926)  (2,302,483)  (2,600,000)  (3,800,000)  (4,136