Thu, Jun 20, 9:21 PM (79 days ago)
BIO-key International, Inc. filed Amendment No. 1 to its annual report for the fiscal year ended December 31, 2023, to correct a typographical error in the auditor’s report date. The amendment does not affect any other content of the original report. Key financial highlights include: - Revenue: $7,754,905, up from $7,020,258 in 2022. - Net loss: $8,521,837, a reduction from $11,909,903 in 2022. - Operating expenses: $10,257,636, down from $14,504,316 in 2022. - Earnings per share: $(15.21), improved from $(27.26) in 2022. - Significant inventory reserve of $3,586,500 due to delayed projects. - Cash and cash equivalents decreased to $511,400 from $2,635,522. - The company faces substantial doubt about its ability to continue as a going concern due to historical net losses and negative cash flows. The amendment also includes updated certifications from the CEO and CFO as required by the Sarbanes-Oxley Act.