Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 61

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 61
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 of common stock 

      (172,350
      )

      (561,367
      )

       Proceeds from issuance of note payable 

      2,000,000

      -

       Repayment of note payable 

      (762,611
      )

      -

       Repayment of government loan 

      (150,024
      )

      (119,251
      )

       Proceeds from Employee Stock Purchase Plan 

      3,740

      17,478

       Net cash (used in) provided by financing activities 

      2,826,854

      1,433,440

       Effect of exchange rate changes 

      26,469

      236,894

       NET DECREASE IN CASH AND CASH EQUIVALENTS 

      (73,796
      )

      (2,124,122
      )

       CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 

      511,400

      2,635,522

       CASH AND CASH EQUIVALENTS, END OF YEAR 
       
      $
      437,604

      $
      511,400

All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-18 reverse stock split, which was effective December 21, 2023.

The accompanying notes are an integral part of these statements.

    45

SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION

       Years ended December 31, 

       2024 

       2023 

       Cash paid during the year for: 

       Taxes 
       
      $
      -

      $
      -

       Interest 
       
      $
      175,755

      $
      218,270

       Noncash investing and financing activities: 

       Operating lease right-of-use asset and liability for new lease 
       
      $
      79,521

      $
      -

All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-18 reverse stock split, which was effective December 21, 2023.

The accompanying notes are an integral part of these statements.

    46

BIO-key International, Inc. and Subsidiaries

NOTES TO THE FINANCIAL STATEMENTS

December 31, 2024 and 2023

   NOTE A —THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES