Bio Key International Inc.

Snapshot

BIO-key is a tiny identity-security micro-cap with $6.1M in FY 2025 revenue, down 12% YoY, though healthy 77.5% gross margin. It lost $4.6M for the year and burned $4.7M in free cash flow.

What's Happening Right Now

• Fri 9th Oct '26 · Dilution: BIO-key filed an S-1 registering 1.24M warrant shares (about 38% of shares outstanding) for Armistice Capital; a prior stockholder vote to approve the warrants failed and the meeting was adjourned again to October 30, 2026.
• Fri 9th Oct '26 · Registration: Registered 1.24M shares for sale on Form S-1.
• Tue 29th Sep '26 · Note conversion: $416K principal converted · 247.8K shares.
• Wed 9th Sep '26 · Earnings/Going-concern: Q2 2026 10-Q showed revenue up 13% YoY to $1.92M and a narrower net loss, but disclosed going-concern doubt with only $1.38M cash against roughly $750K in monthly operating needs.
• Wed 9th Sep '26 · Vote failed: Stockholders failed to approve the Nasdaq-required warrant issuance (Proposal 4) at the September 3, 2026 annual meeting, blocking the share issuance and leaving the Armistice inducement deal incomplete.
• Wed 9th Sep '26 · Financing: On August 10, 2026, BIO-key induced Armistice Capital to cash-exercise warrants by cutting the strike from $10.20 to $4.06, raising $2.51M, in exchange for new warrants on double the shares.
• Tue 11th Aug '26 · Offering: Raised $2.51M in gross proceeds through an offering, with warrants over 1.24M shares.
• Tue 28th Jul '26 · Contract win: BIO-key was selected by the Central Bank of Jordan to support a national biometric authentication initiative across the country's financial sector.