Company: BKYI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001437749-25-026549
Chunk: 23

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 ended June 30, 2025, decreased 18% from $3,724,839 in the corresponding period in 2024 to $3,053,074 in the current quarter.  The decreases included reductions in administration, sales personnel costs, and professional services fees.

Research, development and engineering

      Six Months Ended 

      June 30, 

      2025 

      2024 

      $ Change 

      % Change 

      Research, development and engineering 
      
     $
     1,231,802

     $
     1,198,755

     $
     33,047

     3
     %

For the six months ended June 30, 2025, research, development, and engineering costs increased 3% to $1,231,802 compared to $1,198,755 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)

      Six Months Ended 

      June 30, 

      2025 

      2024 

      $ Change 

      % Change 

      Interest income 
      
     $
     2,095

     $
     51

     $
     2,044

     4008
     %

      Loan fee amortization 

     (120,000
     )

     (4,000
     )

     (116,000
     )

     -103
     %

      Interest expense 

     (61,548
     )

     (10,267
     )

     (51,281
     )

     -499

      Other income (expense) 
      
     $
     (179,453
     )
      
     $
     (14,216
     )
      
     $
     (165,237
     )

     -1162
     %

Other income (expense) for the six months ended June 30, 2025 consisted of interest income of $2,095, interest expense of $61,548 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 six months ended June 30, 2024 consisted of interest income of $51 and interest expense of $10,267 consisting of approximately $2,700 on the government loan through the BBVA bank and the