Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 478

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 9
Chunk 478
---
 )

      (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
    
   Nature of Business
    
   The Company, founded in 1993, develops and markets proprietary fingerprint identification biometric technology and software solutions enterprise-ready identity access management solutions to commercial, government and education customers throughout the United States and internationally. The Company was a pioneer in developing automated, finger identification technology that supplements or compliments other methods of identification and verification, such as personal inspection identification, passwords, tokens, smart cards, ID cards, PKI (public key infrastructure), credit cards, passports, driver’s licenses, OTP or other form of possession or knowledge-based credentialing. Additionally, advanced BIO-key® technology has been, and is, used to improve both the accuracy and speed of competing finger-based biometrics.
    
   Going Concern and Basis of Presentation
    
   The Company has historically financed operations through access to