Company: BKYI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017209
Chunk: 1

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 1
---
CONDENSED CONSOLIDATED BALANCE SHEETS

      March 31,    December 31,  
   2025    2024  
   (Unaudited)      
 ASSETS         
 Cash and cash equivalents  $3,133,752  $437,604 
 Accounts receivable, net   803,277   718,229 
 Due from factor   40,450   74,170 
 Inventory   357,842   378,307 
 Prepaid expenses and other   254,285   278,648 
 Total current assets   4,589,606   1,886,958 
 Equipment and leasehold improvements, net   122,986   140,198 
 Capitalized contract costs, net   375,705   409,426 
 Deposits and other assets   7,976   7,976 
 Operating lease right-of-use assets   67,142   73,372 
 Investments   5,000,000   5,000,000 
 Intangible assets, net   1,020,261   1,097,630 
 Total non-current assets   6,594,070   6,728,602 
 TOTAL ASSETS  $11,183,676  $8,615,560 
         
 LIABILITIES         
 Accounts payable  $568,836  $818,187 
 Accrued liabilities   1,042,411   1,278,732 
 Note payable   762,151   1,525,977 
 Government loan – BBVA Bank, current portion   138,667   132,731 
 Deferred revenue, current   928,291   773,267 
 Operating lease liabilities, current portion   25,260   24,642 
 Total current liabilities   3,465,616   4,553,536 
 Deferred revenue, long term   136,931   196,237 
 Government loan – BBVA Bank – net of current portion   11,666   44,762 
 Operating lease liabilities, net of current portion   42,410   48,994 
 Total non-current liabilities   191,007   289,993 
 TOTAL LIABILITIES   3,656,623   4,843,529 
         
 Commitments and Cont