Biokey International Inc (BKYI)

[topseeded]

SEC filing simplified.

The MOU says that WWTT would invest up to $15 million into the Company through the purchase of shares of convertible preferred stock.

The preferred shares would accrue an annual 6% cumulative dividend payable quarterly in cash or at BIO-key’s option, in shares of common stock, and would be convertible at the option of WWTT into shares of BIO-key common stock at a conversion price of $0.30 per share.

Closing of the potential transaction is subject to, among other things, negotiation and execution of mutually acceptable definitive transaction documents, completion of due diligence satisfactory to WWTT, and obtaining all necessary corporate and third party approvals.

As the terms of the MOU are non-binding, there can be no assurance that the potential transaction will be completed on the terms set forth in the MOU, if at all.