# EDGAR Filing Document

**Accession Number:** 0001019034
**File Stem:** 0001437749-23-001055
**Filing Date:** 2023-1
**Character Count:** 6023
**Document Hash:** b42e4bd5e2a22459ce141e00de5194a6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-001055.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001437749-23-001055

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230112

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BIO KEY INTERNATIONAL INC
- **CENTRAL INDEX KEY:** 0001019034
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 411761861
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13463
- **FILM NUMBER:** 23529453

**BUSINESS ADDRESS:**
- **STREET 1:** 3349 HIGHWAY 138
- **STREET 2:** BUIDING A, SUITE E
- **CITY:** WALL
- **STATE:** NJ
- **ZIP:** 07719
- **BUSINESS PHONE:** 7323591100

**MAIL ADDRESS:**
- **STREET 1:** 3349 HIGHWAY 138
- **STREET 2:** BUIDING A, SUITE E
- **CITY:** WALL
- **STATE:** NJ
- **ZIP:** 07719

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SAC TECHNOLOGIES INC
- **DATE OF NAME CHANGE:** 19961115

bkyi20230113_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM **8-K**

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 12, 2023

**BIO-key International, Inc.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware**<br> (State or other jurisdiction of incorporation) | **1-13463**<br> (Commission File Number) | **41-1741861**<br> (I.R.S. Employer Identification No.) |

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**3349 Highway 138, Building A, Suite E**

**Wall**, **NJ** 07719**

(Address of principal executive offices)

**(**732**) 359-1100**

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | BKYI | Nasdaq Capital Market |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐<br>

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**

On January 12, 2023, BIO-key International, Inc. (the "Company"), received a letter (the "Letter") from the staff of The Nasdaq Capital Market LLC (the "Nasdaq Capital Market") stating that the Company's closing bid price for the last 30 consecutive business days was less than $1.00 per share. As a result, the Company does not satisfy the continued listing requirement to maintain a minimum bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). The notification had no immediate effect on the listing or trading of the common stock on the Nasdaq Capital Market.

Nasdaq Listing Rule 5810(c)(3)(A) provides a compliance period of 180 calendar days, or until July 11, 2023 (the "Compliance Date"), to regain compliance. If at any time during this 180-day period the closing bid price of the Company's common stock is at least $1.00 for a minimum of ten consecutive business days, the Company will regain compliance. If the Company is unable to regain compliance before the Compliance Date, the Company may be eligible for an additional 180 calendar days to satisfy the Bid Price Rule. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during such additional compliance period, by effecting a reverse stock split, if necessary. If the Company does not regain compliance by the Compliance Date and is not eligible for the additional compliance period at that time, the Nasdaq Capital Market will provide written notification to the Company that its common stock may be delisted. At that time, the Company would have an opportunity to appeal the delisting determination to a Nasdaq Listing Qualifications Panel. The Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider available options to regain compliance with the Bid Price Rule.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | BIO-KEY INTERNATIONAL, INC. | BIO-KEY INTERNATIONAL, INC. |
| Date: January 13, 2023 |  |  |
|  | By: | &nbsp;&nbsp;&nbsp; /s/ Cecilia C. Welch |
|  |  | Cecilia C. Welch |
|  |  | Chief Financial Officer |

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