Friday, July 03, 2015 6:58:31 PM
I think I understand the WWTT strategy. Two very interesting points in the 8K and WWTT’s release. In BKYI’s 8K, it states that WWTT would have voting rights on an as-converted basis. This is unusual for preferred stock. In the WWTT release, they state that they are investing UP TO $15M. The actual amount to be invested depends upon other things the current stock. Why would the current stock matter? I believe WWTT wants enough voting power to gain control of BKYI and will invest up to $15M to gain this control.
It makes sense. Who would give Mikey $15M to spend at his discretion? WWTT will immediately have one seat on the board, and with majority voting power will be able to make other changes on the board. They will be able to control how the $15M investment is spent. Mikey’s role as COB might be in jeopardy. A couple of bad quarters and even his job as CEO could be in jeopardy. (one can only hope)
So: WTCC invests up to 15M. WWTT get a 6% dividend with potential larger gains. WWTT is preferred if BKYI fails and is forced to liquidate. WWTT will have majority voting power, effectively in total control of BKYI.
So now the question is: what will WWTT do with the $15M? Should be interesting.
Recent BKYI News
- BIO-key Expands Deployment with Province of British Columbia, Adds 10,000 Biometric Users for Sign-on and Physical Access Control • GlobeNewswire Inc. • 09/23/2024 12:28:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 08:45:26 PM
- BIO-key International Enters into $1.9 Million Warrant Inducement • GlobeNewswire Inc. • 09/12/2024 05:18:35 PM
- Leading Government Defense Ministry Awards BIO-key $500K In Follow-On Orders for Biometric User Authentication • GlobeNewswire Inc. • 09/10/2024 12:27:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/28/2024 08:34:27 PM
- Identity and Access Management Software Provider BIO-key to Participate at H.C. Wainwright Investment Conf. Sept. 9th to 10th • GlobeNewswire Inc. • 08/22/2024 05:10:00 PM
- BIO-key’s PortalGuard Identity and Access Management Solution and Identity-Bound Biometrics Are Now Available on the Amazon Web Services (AWS) Marketplace • GlobeNewswire Inc. • 08/15/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 09:00:34 PM
- BIO-key Reports Reduced Net Loss and Cash Used in Operations on Lower Q2’24 Revenues; Hosts Investor Call Thu. Aug. 15th at 10am ET • GlobeNewswire Inc. • 08/14/2024 08:30:00 PM
- Identity and Access Management Solutions Provider BIO-key Hosts Q2 Investor Call Thursday, August 15th at 10am ET • GlobeNewswire Inc. • 08/12/2024 02:35:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 10:12:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 10:06:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:52:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:46:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:40:42 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 08/02/2024 09:28:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 09:03:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 08:57:36 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 07/10/2024 08:30:50 PM
- Williamsburg, VA Advances Zero Trust Initiative for City Infrastructure and Data with BIO-key Identity-Bound Biometrics • GlobeNewswire Inc. • 07/08/2024 12:29:00 PM
- BIO-key Secures Los Angeles LGBT Center's IT Systems with Seamless Badge-Tap Authentication Solution • GlobeNewswire Inc. • 06/25/2024 12:29:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:17:51 PM
- Identity and Access Management Software Provider BIO-key Reports Q1’24 Revenue of $2.2M and Positive Operating Cash Flow; Hosts Investor Call Tuesday, 10am ET • GlobeNewswire Inc. • 06/17/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/14/2024 09:03:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 09:01:36 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM