Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 786

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1
Chunk 786
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3,007     

   The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $1.71, $3.00, and $10.62 as of  December 31, 2024, 2023 and 2022, respectively, which would have been received by the option holders had all option holders exercised their options as of that date. There were no in-the-money options exercisable as of  December 31, 2024, 2023 and 2022.
    
   The weighted average fair value of options granted during the years ended  December 31, 2024 and 2023 was $0 as no options were granted in either year. The total intrinsic value of options exercised during the years ended  December 31, 2024 and 2023 was $0 as no options were exercised in either year. The total fair value of shares vested during the years ended  December 31, 2024 and 2023 was $0 (none vested) and $18,310. respectively.
    
   As of  December 31, 2024, there was no future forfeiture adjusted compensation costs related to nonvested stock options.

   NOTE P—INCOME TAXES
    
   The components of net loss consist of the following:

       Year ended    Year ended  
   December 31,    December 31,  
   2024    2023  
         
 United States  $(2,767,752) $(7,279,970)
 Hong Kong   (222,901)  (627,146)
 Nigeria   (223,426)  (203,700)
 Spain   (1,086,613)  (411,021)
 Total  $(4,300,692) $(8,521,837 ) 

       62

   There was no provision for current federal, foreign or state taxes for both of the years ended  December 31, 2024 and 2023 as a result of taxable losses incurred in these jurisdictions. The provision for income tax benefits consist of the following (in thousands):

       Year ended    Year ended  
   December 31,    December 31,  
   2024    2023  
         
 Current – federal,  $-  $-