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I can see that, he should be admired. I'm not sure that most people could pull a quarter of a million a year out of this and stay out of jail.
He should be teaching...
Fraud 101
Buying Awards 401
and the list could go on and on.
SeanBoy, Mike is officially my hero now because of the way he has operated this tired company on the edge for all these years.
Mike's not in jail yet?
BIO-key a Provider of Identity & Access Management (IAM) Solutions Powered by Biometrics; Hosts Q2 Investor Call Tuesday, Aug. 17th at 10am ET
WALL, N.J., Aug. 09, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity access management (IAM) and large scale identity solutions, including industry leading biometric capabilities, will host a conference call to review its second quarter 2021 results on Tuesday, August 17, 2021 at 10 a.m. ET. Results will be released after the market closes on Monday, August 16th. Mike DePasquale, Chairman & CEO, Cecilia Welch, CFO, and Fred Corsentino, Chief Revenue Officer, will participate on the call.
Conference Call Details
Date / Time: Tuesday, August 17th at 10 a.m. ET
Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 International
Live Webcast / Replay: Investor Webcast & Replay – Available for 3 months.
Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 10159496
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multifactor identity and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
Engage with BIO-key
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact Investor Contact
Erin Knapp William Jones, David Collins
Matter Communications Catalyst IR
BIO-key@matternow.com BKYI@catalyst-ir.com
914-260-3158 212-924-9800
Identity & Access Management Provider BIO-key’s MobileAuth™ with PalmPositive™ Wins Lucintel 2021 Technology Innovation Award in the Biometric Market
WALL, N.J., July 15, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics, today announced its BIO-key MobileAuth™ with PalmPositive™ solution has been selected as the winner of the 2021 Technology Innovation Award in the Biometric Market, conducted by Lucintel, a premier market research, and management consulting firm. This new mobile application is the latest among over sixteen strong authentication factors available for BIO-key’s PortalGuard® Identity-as-a-Service (IDaaS) platform that aims to obsolete traditional authentication methods.
Based on recent market research, Lucintel chose BIO-key MobileAuth for this award because of its novel approach to multi-factor authentication. MobileAuth offers fast, touchless Identity-Bound Biometric user authentication – using a palm scan – that works on any camera-equipped device, supporting both Android and iOS, to provide the unique combination of a simple and convenient user experience with the highest levels of security and flexibility enterprises need.
With MobileAuth, BIO-key has introduced a different way to authenticate that eliminates the inconvenience, security risks, and costs of traditional authentication methods. Well-suited for everyday use cases including secure remote access for the workforce, third-party access, Customer IAM (CIAM), and passwordless workflows, MobileAuth offers Identity-Bound Biometrics as an alternative to user-controlled, device-based biometric methods, ensuring that only an authentic user can access their online identity, preventing information from being accessed by unauthorized users or hackers.
“We’re honored that Lucintel awarded BIO-key MobileAuth with its Technology Innovation Award in the biometric sector. This continues to confirm that by offering this different way to authenticate among our other flexible authentication options, we’re giving the enterprise a more accurate, secure, convenient authentication method that provides the level of integrity they require,” said Michael DePasquale, Chairman and CEO of BIO-key International.
Lucintel’s awards in innovation and industry excellence recognize outstanding achievements and the latest endeavors by companies in various industries, identifying the most successful, innovative, and forward-thinking companies and products in business today. Lucintel awards are based on systematic and detailed research on the market to identify and recognize the most successful recent innovations or industry excellences that demonstrate high levels of industry impact and benefits to end users.
Learn more about BIO-key MobileAuth with PalmPositive by visiting the BIO-key website.
About Lucintel
Lucintel, a premier market research and management consulting firm based in Dallas, Texas, has served over 1,000 clients for over 20 years. With in-depth analysis and sage advice, Lucintel offers solutions for your growth through game-changing ideas and analysis of robust markets and unmet needs. Lucintel has been quoted in esteemed publications including The Wall Street Journal, ZACKS and The Financial Times.
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
BIO-key to Showcase PortalGuard IDaaS Identity Platform at Booth 302 at National Association of Counties Annual Conference July 8-12 and Participate in Panel: “Redefining Connectivity to Protect Your Employees, Contractors, and Citizens”
Cybersecurity Remains a Top Priority for County Officials
WALL, N.J., July 08, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics, today announced the company will be a sponsor and exhibitor at the National Association of Counties (NACo) Annual Conference, to be held at the National Harbor in Prince George’s County, Maryland from July 8-12. BIO-key be available for meetings with customers, Q&A sessions, and live demonstrations of their award-winning PortalGuard IDaaS platform at booth 302. In addition, Kimberly Johnson, VP of Product at BIO-key, will be a featured expert panelist on “Redefining Connectivity to Protect Your Employees, Contractors, and Citizens” during the NACo CIO Forum & Technology Summit on July 8th.
Surveys reveal that county officials face a constant threat of cyberattacks such as ransomware and phishing while managing the impact of the current pandemic environment on how employees collaborate and connect with citizens and suppliers. These challenges have elevated cybersecurity to a top priority for attendees at this year’s conference. To its credit, NACo is advocating multi-factor authentication (MFA) as a best-practice for all members, but warns that costs can be in the hundreds of thousands of dollars per county. BIO-key’s proven PortalGuard IAM solutions are available to member counties at a fraction of the cost of less-capable, mainstream MFA solutions, and can be implemented in an IDaaS model to control infrastructure investments and exposure. Cost and implementation overhead don’t have to be limiting factors when counties implement key cyber defense measures.
Attendees are invited to stop by booth 302 for live demonstrations of BIO-key's PortalGuard solutions and to discuss top county cybersecurity priorities, including:
MFA
Single Sign-on (SSO) for cloud, SaaS and thick client applications
Self-service password reset
Simplified secure user experiences
Election security
During the demonstrations, attendees will see how BIO-key PortalGuard was designed from the ground up to offer the end-to-end flexibility to support counties’ dynamic cybersecurity strategies. BIO-key PortalGuard offers a wide range of flexible options for connecting user and constituent directories, providing diverse multi-factor authentication choices, and is the only IAM provider of Identity-Bound Biometrics, which are phish-proof and provide absolute certainty who is accessing critical systems by preventing unauthorized delegation and account takeover.
“For over ten years, BIO-key has been focused on helping counties secure access for their employees, citizens, and contractors,” said Fred Corsentino, Chief Revenue Officer of BIO-key International. “Now, more than ever, we’re excited to attend and sponsor this event at such a critical time when counties require solutions to protect against breaches, eliminate passwords, lower costs, and improve productivity for their IT teams.”
To learn more about BIO-key's IAM solutions for counties please visit BIO-key's website.
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multifactor identity and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
Somebody post this new news to Reddit r/pennystocks we need eyes/volume again. Good Pr after pr and nothing happens. People only care about that Nigerian price money?
BIO-key PortalGuard IDaaS Wins “Identity Management Solution of the Year”
Annual RemoteTech Breakthrough Awards Program Recognizes Innovation in the Global Remote Technology Industry
WALL, N.J., June 24, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions featuring Identity-Bound Biometrics, today announced its PortalGuard® Identity-as-a-Service (IDaaS) platform has been selected as the winner of the “Identity Management Solution of the Year” award in the 2021 RemoteTech Breakthrough Awards conducted by RemoteTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products, and services empowering remote work and distributed teams around the globe.
PortalGuard IDaaS provides a hosted unified Identity and Access Management (IAM) platform that offers an unmatched variety of choices for workforce and customer multi-factor authentication (MFA), including exclusive Identity-Bound Biometrics, single sign-on (SSO), and self-service password reset to support an enterprise’s present and future IAM strategies while delivering a superior user experience. For over 20 years, PortalGuard’s on-premise solution has been trusted by customers across multiple industries, including education, healthcare, manufacturing, finance, and government. As a result of this strong track record and IDaaS’ simplified deployment, PortalGuard IDaaS has experienced rapid growth from new and existing customers looking to improve their security posture and migrate their IAM strategy to the cloud.
With PortalGuard IDaaS, customers can consolidate their IAM solutions, eliminate passwords, simplify access for users, and reduce overhead for the IT team. PortalGuard is the only cloud-based IAM solution with fully integrated Identity-Bound Biometrics™, including palm scanning using BIO-key’s MobileAuth™ with PalmPositive™ mobile app, which offers the highest levels of identity integrity, availability, security, and accuracy for MFA and passwordless workflows. When securing remote access for employees, supply chain, and customers, positively identifying an individual with certainty during the authentication process is essential. With Identity Bound Biometrics, PortalGuard offers a different, more certain method of authentication that also eliminates the inconvenience, security risks, and costs of traditional authentication methods.
Offering the broadest range of flexible MFA and SSO options, BIO-key PortalGuard supports 16+ authentication methods, major federation and SSO standards as well as contextual authentication, empowering the IT Administrator to decide which methods work best to support their security policies and access scenarios, and making it easy for customers to protect on-premises, legacy, thick client, and web applications from a single comprehensive Identity Provider (IdP).
“Whether you’re looking for passwordless workflows, support for your Zero Trust architecture, or just implementing MFA for the first time, PortalGuard can easily secure access for all users whether they are remote or on-premises,” said Michael DePasquale, Chairman and CEO of BIO-key International. “As the only IDaaS platform offering Identity Bound-Biometrics and the highest level of flexibility, customers choose PortalGuard for its ability to address all use cases and requirements of their IAM strategy. We are so thrilled and honored to be recognized by RemoteTech Breakthrough for all the thought and innovations we have put into PortalGuard over the past decade for our customers.”
The mission of the annual RemoteTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions, and products in the remote technology industry today. This year’s program attracted more than 1,450 nominations from over 15 different countries throughout the world.
“The shift to remote work due to the pandemic and the hyper expansion of online services for customers has driven organizations to rethink how they secure remote access and modernize their IAM strategy,” said Bryan Vaughn, Managing Director of RemoteTech Breakthrough Awards. “IAM is essential. BIO-key International’s PortalGuard provides companies with the solutions they need to respond to an unrelenting threat landscape - especially over the past year. Congratulations for being our choice for the ‘Identity Management Solution of the Year’ award. Your work has never been more important.”
To learn more about BIO-key PortalGuard IDaaS please visit BIO-key's website.
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
About RemoteTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the RemoteTech Breakthrough Awards program is devoted to honoring excellence in technologies, services, companies and products that empower remote work and distributed teams around the globe. The RemoteTech Breakthrough Awards program provides a forum for public recognition around the achievements of technology companies and solutions in categories including messaging & communication, project management, virtual events, team collaboration, virtual offices, collaborative design and more. For more information visit RemoteTechBreakthrough.com.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
BIO-Key Introduces SSO Concierge™ to its PortalGuard Identity & Access Management Platform, Eliminating Passwords for Thick Client Applications
WALL, N.J., June 22, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions featuring Identity-Bound Biometrics, today introduced SSO ConciergeTM, the latest enhancement to their award-winning PortalGuard platform. SSO Concierge provides single sign-on (SSO) capabilities that eliminate the need for passwords to thick client applications that do not support federated identity management.
With this product enhancement, BIO-key PortalGuard continues its technology leadership as a unified IAM platform that best supports the complexity of the modern enterprise with the widest range of SSO and multi-factor authentication (MFA) options.
Despite the continuing migration to cloud services, many enterprises maintain complex environments, including thick client applications that until now have been outliers within cloud-only IAM strategies. Thick client applications maintain independent identity stores, do not support identity federation, and yet often perform mission-critical operations that demand secure Zero Trust access for users. Many IAM solutions are unable to provide SSO access to thick client applications, requiring users to manage and remember additional logins and passwords and negatively impacting the user experience and user and IT staff productivity.
BIO-key PortalGuard SSO Concierge embraces these critical applications, unburdening users from additional logins by seamlessly and securely passing the proper credentials to thick client applications on the user’s behalf, behind a single login protected by PortalGuard’s strong multi-factor authentication. With this PortalGuard enhancement, enterprises can protect access to cloud-based, on-premises, legacy, and thick client applications from a single managed Identity Provider (IdP). By assuring user identity with 16+ multi-factor authentication options, including Identity-Bound Biometrics, PortalGuard creates additional layers of identity protection. Once authenticated, PortalGuard eliminates all additional passwords for users, greatly reducing IT support demands, and allowing employees, customers, and partners to improve their productivity instead of losing time trying to sign in.
“We recognize that the modern enterprise is complex, dynamic, and constantly evolving,” said Michael DePasquale, Chairman and CEO of BIO-key International. “Our customers don’t want their users frustrated with disjointed authentication solutions that leave key applications as unprotected one-offs. They come to us with the desire to consolidate solutions and address the challenges they face with delivering a consistent user experience for their employees, supply chain, and customers. Our focus with PortalGuard is to provide the flexibility and options that modern enterprises require in a single, secure and unified solution."
To learn more about BIO-key PortalGuard IDaaS and SSO Concierge please visit BIO-key's website.
About BIO-key International, Inc.
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
CEO bought 2K more shares 6/16/21 at $4.
https://www.sec.gov/Archives/edgar/data/1019034/000143774921015001/xslF345X03/rdgdoc.xml
Rio Hondo College Enhances Enterprise Security and User Experience With BIO-key's PortalGuard Identity-as-a-Service Platform
WHITTIER, Calif. and WALL, N.J., June 02, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions featuring biometrics, today announced that Rio Hondo College in Whittier, CA, with more than 19,000 students has selected BIO-key's PortalGuard Identity-as-a-Service (IDaaS) platform to improve their security posture and user experience for access to more than twenty enterprise applications such as Ellucian Banner, Brightspace, Canvas LMS and Microsoft Office 365.
The IT team at Rio Hondo College is focused on improving the user experience and streamlining access to critical applications through PortalGuard's Single Sign-On (SSO) capabilities. Providing an array of valuable applications enhances the student experience, but remembering multiple unique passwords and usernames for each application creates a significant access burden, often leading to 'password fatigue.' With just one set of SSO credentials to manage, login and authentication issues are dramatically reduced for the college and its students. Consolidating to one access point also reduces the chance of a security breach and improves mobile adoption by providing secure access to systems from any device. Additionally, PortalGuard IDaaS delivers an attractive return on investment because Rio Hondo College does not need to manage the deployment, security, configuration, hosting, and maintenance of the cloud-based platform and deploy those resources in other ways.
Rio Hondo is building on PortalGuard's SSO benefits by adding Multi-Factor Authentication (MFA) security improvements. MFA is especially effective when combined with an SSO solution to remove multiple usernames and passwords from the equation, strengthening security and further improving the user experience. PortalGuard IDaaS provides 16 different MFA options that allow customers to adopt flexible authentication standards and gain these combined SSO and MFA benefits. BIO-key's new MobileAuth™ with PalmPositive™ app for mobile devices provides fast, touchless, secure access to user accounts from any device. MobileAuth can be used for multi-factor authentication or passwordless workflows that make it quicker and easier to sign in.
"While passwords remain the most common way to authenticate your identity online, their frequently breached vulnerabilities provide very little protection for users," states Mark Cochran, President, BIO-key PortalGuard. "MobileAuth is a powerful new biometric capability we have built into PortalGuard IDaaS to provide secure, individual-tied access that eliminates the inconvenience, security risks, and higher costs of traditional authentication methods. While many vendors do not take usability seriously enough, PortalGuard IDaaS delivers an enterprise-grade cloud IAM solution with frictionless access and security improvements, allowing our customers to achieve their cybersecurity objectives while also improving the user experience."
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity, and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
Up 7.5% so far today. Seems like someone had advance knowledge of how the market would react today. This company seems to operate in a very sketchy manner and with complete disregard for its shareholders.
Thats a legitimate question and I wondered the same myself. I assume that any announcement has to have immediate material consequences. Today's pr was about a partnership with a reseller and not any actual sale.
On another note ,,looking at the new partners website,, it says they have been growing at 110% a year. Which is fairly stunning in my book.
How is a CEO entitled to purchase stock before a press release announcing expansion of the company’s business?
BIO-key's Channel Alliance Partnership with UVS Infotech Opens Doors in Maryland and Virginia Higher Education Markets along with National Federal Government Projects
WALL, N.J., May 24, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions featuring biometrics, today announced that its channel alliance partnership with leading Managed Service Provider UVS Infotech is providing a gateway for BIO-key to expand the company's presence within the higher education community and federal government agencies.
UVS Infotech has added the BIO-key PortalGuard IAM solution to the IT Security Services and Solutions Master Contract of the Maryland Education Enterprise Consortium (MEEC). The MEEC consists of over 200 educational institutions and offers centrally coordinated and negotiated procurement opportunities for its member organizations to gain economic advantage and value in the acquisition of products and services that are beneficial to the educational enterprise. The two partners have already begun bidding on projects and are jointly participating in RFP's. More than 190+ educational institutions worldwide trust BIO-key's PortalGuard IAM solution to provide enterprise-grade authentication and self-service capabilities in the cloud (IDaaS) or on-premises.
Beyond their presence in Maryland, UVS is a Master Agent in Virginia and is recognized by the Virginia Community College System (VCCS), which comprises 23 community colleges. BIO-key and UVS plan to introduce their joint value solutions to the VA market soon. In addition, UVS is also a minority-owned and operated 8(a) certified business. The 8(a) certification allows UVS to participate in "sole sourced" federal government technology projects under $4M.
"Our organization is partnering with BIO-key to address a topic that's front of mind for every customer; security," states Sam Singh, Managing Partner, UVS Infotech. "BIO-key offers a tested and proven suite of IAM solutions that are flexible to accommodate customer-specific password and authentication requirements. Furthermore, we anticipate that their biometric authentication solutions, including the new Palm Positive mobile app, will be well received by our government customers."
"BIO-key has an extensive footprint in higher education and also extensive experience managing highly sensitive government projects of all sizes,” states Mark Cochran, President, BIO-key PortalGuard. "We look forward to working together with UVS to help the members of MEEC and VCCS solve their security and identity and access management challenges. Our higher education customers have found that our solutions are positioned to deliver rapid value. Additionally, we're equally excited about partnering with UVS on federal opportunities and leveraging our 20+ years of experience in successfully delivering government projects."
About UVS Infotech LLC (www.uvsit.net)
UVS Infotech is a leader in current and emerging Enterprise Technologies and provides turnkey solutions for Higher Education, Federal, State, Local, and Commercial Organizations across the United States. The Laurel, Maryland-based IT System Integrator was founded in 2012 by Senior Directors of the University of Maryland with the objective of reducing the IT cost by leveraging the repeatable process-driven approach, cutting edge technology (Artificial Intelligence, Blockchain, and Robotics).
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
LOL - I’m not short you shit talker!!! I was making what is or use to be called a joke, get a life lol
Yukon is short? 725K short as of 4/30/21. They're getting worried?
Not just CEO bought. Jim Sullivan as well 10K.
It’s a trap, don’t fall for it!!
Mike D bought 5k shares this morning.
When it comes to Bio-Key.... lessons learned after many years of stock ownership.... don’t get your hopes up. It seems like a highly manipulated stock that will suck you dry.
Its a pretty quiet day for such a nice news release. imo
Identity & Access Management Solutions Provider BIO-key’s Q1 Revenues Improved to $1.9M versus $0.5M in Q1’20 and $1.1M in Q4; Investor Call Today at 10am ET
WALL, N.J., May 14, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (Nasdaq: BKYI), an innovative provider of biometric and multi-factor identity and access management (IAM) solutions for strong, convenient user authentication and large-scale identity applications, today reported results for its first quarter ended March 31, 2021 (Q1’21). BIO-key will host a conference call today at 10:00 a.m. ET (details below) to review its results and outlook.
Q1 & Recent Highlights:
BIO-key began initial technology deployments for its large-scale ID projects in Africa, recording hardware revenue of $680k in Q1.
BIO-key secured a $1.2M, three-year contract extension from a Fortune 500 telecommunications customer for fingerprint biometric security support services.
BIO-key added new higher education customer contracts in the quarter, extending the penetration of its PortalGuard™ identity and access management solution, while also converting several customers to the new cloud hosted version, PortalGuard IDaaS (Identity-as-a-Service).
U.S. Department of Justice Division Leverages PortalGuard for Secure Authentication.
West Coast State Increased Deployment of BIO-key’s Biometric Authentication Solution to secure access to Centralized Voter Registration database.
BIO-key secured a U.S. patent for enabling next-generation continuous biometric user authentication, increasing its IP portfolio to 18 patents.
BIO-key CEO Michael DePasquale commented, “Our first quarter performance reflects the progress BIO-key has achieved over the past year in expanding and strengthening our business. We saw improved demand across the business in the first quarter, adding 29 new members to our Channel Alliance Partner program, positioning BIO-key to pursue a much broader base of opportunities on a global basis. Importantly, after several quarters of delay, we commenced initial hardware shipments in support of our large-scale ID projects in Africa and expect to see growing momentum as we progress through the year.
“We also continue to focus on innovation and new product development to provide greater functionality and value to our enterprise customers. We recently launched our new mobile app, BIO-key MobileAuthTM with PalmPositiveTM, a touchless palm-scan authentication technology for IOS and Android systems. This easy-to-use app requires no specialized hardware, as it utilizes the device’s camera, offers fast registration and enrollment while supporting multifactor and Single Sign-on solutions to streamline logins, while also making them more secure. MobileAuth builds upon our substantial biometric experience to add touchless biometric capabilities to the 16 authentication factors already supported by BIO-key’s PortalGuard® platform.
“PalmPositive is substantially more accurate than common, user-controlled mobile biometric authentication methods. Given the well-known deficiencies in traditional authentication methods, such as passwords, we believe enterprises are increasingly recognizing that they have no choice but to raise the bar on their authentication methods. We plan to add other identity-bound biometric authentication methods, such as voice and facial recognition, to the MobileAuth application in 2021. This will extend our leadership and support for strong multi-factor authentication (MFA) that offers the highest levels of integrity, security, accuracy, and availability across devices.
“We continue to see building demand for our PortalGuard solution within the higher education and enterprise markets, particularly our cloud-hosted, IDaaS solution, launched in Q4. PortalGuard IDaaS is an ideal solution for enterprises and institutions that are increasingly moving their IT infrastructure to the ‘asset-light’ cloud model. The transition to the cloud has been accelerated by the pandemic and the rapid rise in work-from-anywhere and study-from-home demands, and we believe the need to support remote access is here to stay. Off-premises access creates unprecedented IT security challenges as more users access mission critical data and applications outside the enterprise firewall. BIO-key helps enterprises meet these challenges with attractively priced IAM solutions supporting a wide array of MFA options, including our core, patented biometric capabilities.
“BIO-key’s Channel Alliance Partner (CAP) Program continues to build momentum and is expected to be a key component of our long-term growth strategy as it helps us to substantially expand our reach into new customers on a global basis. We have grown to 60 Partners over the past year, and we are working to double the size of this program in coming months, having expanded the program to include managed service providers (MSPs) and managed security service providers (MSSPs) in addition to system integrators and value-added resellers. We are targeting partners in key verticals, including financial services, government, and higher education – where our solutions and value proposition are well established.
“During the first quarter, we delivered our first shipment of biometric fingerprint scanners in support of our initiatives in Nigeria, recording initial revenue of $680K in the period. We anticipate increased activity from these contracts throughout 2021, while we continue pursuing other projects in neighboring countries, and additional opportunities across Africa.
Outlook
“We believe we have the right team in place, a broad suite of solutions, a strong balance sheet, and the resources we need to drive growth. We are on-track to achieve our full year revenue guidance of $8M to $12M, with potential upside, particularly related to our African contracts, the pace and timing of which remain difficult to predict. The mid-point of our revenue guidance range would represent growth of more than 250% over FY 2020. We believe BIO-key is positioned to achieve profitability within this guidance range depending on the mix of hardware and software revenues.”
Financial Results
Q1’21 revenue grew significantly to $1.8M from $522k in Q1’20. The increase is attributable to more than 100% growth in license revenue and 1193% growth in hardware revenue, including $680k of revenue from the Africa projects. License and services growth includes revenue from the PistolStar/PortalGuard acquisition that closed on June 30, 2020 and was not included in Q1’20 results.
Q1’21 gross profit increased 182% to $1.1M from $0.4M in Q1’20 reflecting higher revenues. Gross margin decreased to 59.4% in Q1’21 vs. 76.2% in Q1’20, due to a higher proportion of hardware sales in Q1’21, including fingerprint scanners for our African projects. Hardware represented 55% of Q1’21 revenue vs. 15% in Q1’20, however the mix between hardware and software is expected to include more software revenue in future periods.
Q1’21 operating expenses increased 7% to $1.8M from $1.7M in Q1’20, despite significantly higher revenue. The increase in operating expenses was attributable primarily to higher research, development and engineering costs reflecting the addition of the PortalGuard operations and continued investments in new product development.
BIO-key reported a net loss available to stockholders of $0.7M, or ($0.09) per share, in Q1’21, compared to a net loss of $3.5M, or ($1.84) per share, in Q1’20. Weighted average basic shares outstanding were approximately 7.8M in Q1’21 compared to 1.9M in Q1’20.
Financial Strength
BIO-key ended the first quarter with no debt and current assets of $17.8M, including $13.5M of cash and cash equivalents, compared to current assets of $2.0M and $2.3M of convertible notes outstanding at the end of Q1’20.
Conference Call Details
Date / Time: Today, Friday, May 14th at 10 a.m. ET
Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 International
Live Webcast / Replay: Investor Webcast & Replay – Available for 3 months.
Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 10156403
About BIO-key International, Inc. (www.bio-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of PistolStar into our business; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.
Engage with BIO-key
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact Investor Contact
Erin Knapp William Jones, David Collins
Matter Communications Catalyst IR
BIO-key@matternow.com
BKYI@catalyst-ir.com
914-260-3158 212-924-9800
BIO-KEY International, Inc. and Subsidiaries
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS
March 31,
2021 December 31,
2020
(Unaudited)
ASSETS
Cash and cash equivalents $ 13,528,521 $ 16,993,096
Accounts receivable, net 1,432,248 548,049
Due from factor 49,808 60,453
Note receivable - 295,000
Inventory 600,447 330,947
Prepaid expenses and other 1,706,161 201,507
Investment – debt security 512,821 512,821
Total current assets 17,830,006 1,894,873
Resalable software license rights 56,361 58,882
Equipment and leasehold improvements, net 69,985 81,793
Capitalized contract costs, net 170,219 165,315
Deposits and other assets 8,712 8,712
Note receivable 295,000 -
Operating lease right-of-use assets 430,206 487,325
Intangible assets, net 1,460,130 1,514,146
Goodwill 1,262,526 1,262,526
Total non-current assets 3,753,139 3,578,699
TOTAL ASSETS $ 21,583,145 $ 22,520,572
LIABILITIES
Accounts payable $ 309,323 $ 244,158
Accrued liabilities 515,952 508,487
Note payable – PistolStar acquisition, net of debt discount - 232,000
Deferred revenue – current 524,836 657,349
Operating lease liabilities, current portion 230,072 234,309
Total current liabilities 1,580,183 1,876,303
Deferred revenue – long term 49,393 44,987
Operating lease liabilities, net of current portion 211,442 264,163
Total non-current liabilities 260,835 309,150
TOTAL LIABILITIES 1,841,018 2,185,453
Commitments and Contingencies
STOCKHOLDERS’ EQUITY
Common stock — authorized, 170,000,000 shares; issued and outstanding; 7,817,913 and 7,814,572 of $.0001 par value at March 31, 2021 and December 31, 2020, respectively 782 782
Additional paid-in capital 119,982,465 119,844,026
Accumulated deficit (100,241,120 ) (99,509,689 )
TOTAL STOCKHOLDERS’ EQUITY 19,742,127 20,335,119
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 21,583,145 $ 22,520,572
All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-8 reverse stock split, which was effective November 20, 2020.
BIO-KEY International, Inc. and Subsidiaries
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three months ended
March 31,
2021 2020
Revenues
Services $ 380,022 $ 207,523
License fees 478,958 235,345
Hardware 1,029,658 79,617
Total revenues 1,888,638 522,485
Costs and other expenses
Cost of services 175,944 70,445
Cost of license fees 38,969 10,456
Cost of hardware 551,722 43,362
Total cost of goods sold 766,635 124,263
Gross Profit 1,122,003 398,222
Operating Expenses
Selling, general and administrative 1,396,398 1,381,399
Research, development and engineering 441,651 336,889
Total Operating Expenses 1,838,049 1,718,288
Operating loss (716,046 ) (1,320,066 )
Other income (expenses)
Interest income 2,615 1
Interest expense (18,000 ) (1,551,141 )
Loss on extinguishment of debt - (499,076 )
Total Other Income (Expenses) (15,385 ) (2,050,216 )
Net loss (731,431 ) (3,370,282 )
Deemed dividends related to down-round features - (112,686 )
Net loss available to common stockholders $ (731,431 ) $ (3,482,968 )
Basic Loss per Common Share $ (0.09 ) $ (1.84 )
Weighted Average Shares Outstanding:
Basic 7,773,688 1,895,690
BIO-key’s weighted average shares outstanding in the 2021 and 2020 periods have been adjusted to reflect BIO-key’s 1-for-8 reverse stock split, which was effective November 20, 2020.
BIO-Key Shares Move Higher; Co Highlights Launch Of MobileAuth
BIO-key MobileAuth Aims to Obsolete Traditional Authentication Methods WALL, N.J., May 10, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ:BKYI), an innovative provider of identity and access
32
5/10/2021, 8:00:27 AM
BIO-key MobileAuth Aims to Obsolete Traditional Authentication Methods
WALL, N.J., May 10, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ:BKYI), an innovative provider of identity and access management (IAM) solutions featuring biometrics, today introduced its new mobile app, BIO-key MobileAuth™ with PalmPositive™ the latest among over sixteen strong authentication factors available for BIO-key's PortalGuard® Identity-as-a-Service (IDaaS) platform. MobileAuth's fast, touchless biometric user authentication – using a palm scan – works with any Android or iOS device to provide the unprecedented combination of a simple, privacy-protected, and convenient user experience with the identity integrity and availability that enterprises require.
While multi-factor authentication (MFA) is an essential part of any IAM strategy, organizations such as NIST and the FBI have warned that traditional MFA methods such as passwords and phone-based methods, including one-time password (OTP) generators and SMS codes, remain vulnerable to social engineering and cyberattacks. Moreover, relying parties, lose control over who is accessing their systems, since the end-user can share a credential or enroll additional users into their phones, without the relying party's consent. In addition, hardware tokens with their lifecycle costs, lost token churn and difficult user experiences present other challenges.
According to the 2020 Verizon Data Breach Investigations Report, 81% of hacking-related breaches leverage stolen or weak passwords. This, along with other well-documented password challenges, has driven the adoption of passwordless workflows using phone apps secured with user-controlled device-based biometrics or other device-unlock factors. While more secure than passwords, reports of account sharing, unauthorized delegation, and SIM swapping demonstrate that this type of biometrics lacks the integrity and availability required to support enterprise-level security.
BIO-key MobileAuth with PalmPositive offers a different way to authenticate, eliminating the inconvenience, security risks, and costs of traditional authentication methods by introducing the new category of Identity-Bound Biometrics (IBB), which are well-suited for everyday use cases including remote workforces, third-party access, Customer IAM (CIAM), and passwordless workflows.
Starting with PalmPositive as the first Identity-Bound Biometrics authentication method, future methods including voice and facial recognition will be added to BIO-key MobileAuth in 2021 to continue to offer the highest levels of:
Integrity: by permanently binding a biometric (palm scan) to the user's digital identity to ensure only they can use their account privileges, not a proxy.
Availability: because the user is free to authenticate themselves across multiple devices, even if a new device is introduced.
Security: because biometrics cannot be forgotten, phished, stolen, or forged. Built-in liveness detection prevents imposters from using scanned pictures or fakes.
Accuracy: a palm scan is up to 400x more accurate than common user-controlled device-based biometric authentication methods.
"With the obvious deficiencies in traditional authentication methods, we believe it is time to challenge the status quo," said Michael DePasquale, Chairman and CEO of BIO-key International. "While we still provide customers with a full suite of flexible authentication options, we felt it was important to introduce a different way to authenticate that costs less and provides the security controls enterprises need without sacrificing convenience. By launching BIO-key MobileAuth with PalmPositive as a form of Identity-Bound Biometrics, customers can have the confidence that their multi-factor authentication and passwordless workflows will distinguish legitimate users from hackers."
BIO-key MobileAuth is an easy-to-use mobile app with no new hardware required and a fast QR code registration and enrollment process that can be completed in seconds. As part of BIO-key's PortalGuard IDaaS platform, BIO-key MobileAuth supports its MFA and Single Sign-On (SSO) solutions to streamline logins while making them more secure. BIO-key MobileAuth with PalmPositive is now available for both iOS and Android and requires an active BIO-key PortalGuard IDaaS account.
To learn more about BIO-key MobileAuth, PalmPositive, and Identity-Bound Biometrics please visit BIO-key's website.
About BIO-key International, Inc.
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, 3 personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors'' in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl Twitter –
Investors: @BIO_keyIR StockTwits:
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
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Warning: The article represents only the author's personal opinion and does not constitute investment advice of Webull. Webull cannot guarantee the accuracy and reliability of the content of the article, nor does it assume responsibility for any loss caused by trust or use of the article information.
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+0.88%
BIO-key, Provider of Identity & Access Management (IAM) Solutions, including Biometrics, Hosts Q1 Investor Call Friday, May 14th at 10am ET
WALL, N.J., May 07, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity access management (IAM) and large scale identity solutions, including industry leading biometric capabilities, will host a conference call to review its first quarter 2021 results on Friday, May 14, 2021 at 10 a.m. ET. Results will be released prior to the market’s opening. Mike DePasquale, Chairman & CEO, Cecilia Welch, CFO, and Fred Corsentino, Chief Revenue Officer, will participate on the call.
Conference Call Details
Date / Time: Friday, May 14th at 10 a.m. ET
Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 International
Live Webcast / Replay: Investor Webcast & Replay – Available for 3 months.
Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 10156403
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard solution, that provide convenient and secure access to devices, information, applications and high-value transactions. BIO-key’s proprietary software and hardware solutions, with industry leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
Engage with BIO-key
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact Investor Contact
Erin Knapp William Jones, David Collins
Matter Communications Catalyst IR
BIO-key@matternow.com BKYI@catalyst-ir.com
914-260-3158 212-924-9800
Surprise, surprise… Have the Chinese directors been selling their shares?
I've noticed that there was 800k shares short as of April 15th. This would normally be a safe bet and easy to exit but with volume drying up I'd think some shorts are getting nervous. Imagine a crowded room with a fire alarm ringing..its ok if there are lots of doors.
This pos stock only goes down.
Down. A rocket-ride to Hell.
Do they care about their shareholders? I think not.
This pos stock only goes down.
Down, down down.
True story. Ever since inter coastal got in this before the r/s this tickers been shit. Any news would see spike now volume is garbage. Contract after contract idk what it’s going to take?
Does Management know what they're doing? This pos only goes down.
Crap!
Ok Wick, What does all this mean??
NOTICE OF EFFECTIVENESS
Effectiveness form filed... https://sec.report/Document/9999999995-21-001520/
Adoption of BIO-key's PortalGuard® Identity-as-a-Service (IDaaS) Platform Accelerates as Customers Seek Cloud-Based Approach to Enterprise-wide Identity Management
WALL, N.J., April 21, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced that Barstow Community College and Southeastern Illinois College selected the PortalGuard® IDaaS Platform, further demonstrating continued strong growth in customer adoption for the company’s cloud-based IAM solution. PortalGuard IDaaS provides enhanced IAM security while empowering workforces and institutions to access enterprise applications across any device and work or educational environment. Organizations should consider IDaaS as an opportunity to streamline IAM processes, optimize the user experience, and provide an enterprise-wide access security approach that supports both on-premises as well as cloud-based environments.
With PortalGuard IDaaS, Barstow Community College and Southeastern Illinois College sought to migrate their enterprise IAM strategy to the cloud with a predictable low cost, scalability, 24/7 availability, and rapid time to value. BIO-key provides its customers relief from the overhead associated with infrastructure support and the specialized staffing needed to operate common on-premises solutions while allowing for faster deployments and built-in, continuous maintenance and upgrades. PortalGuard significantly improves user access by providing single sign-on to applications while replacing approaches that can be challenging for the customer’s IT team to manage and support.
"Many of our customers are opting for the benefits IDaaS, and we are excited to extend our business relationships and provide this next-level IAM security service to them," said Mark Cochran, President of BIO-key - PortalGuard. "It is so important to find the right company to handle your IDaaS needs, and our customers continue to put their trust in our cloud experts to guide them through security improvements. We have created a consultative partnership with our customers to help them meet their requirements for improving the end-user experience while delivering secure access to critical applications and data.”
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions, including customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contact
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
Thanks,,that's good. EOM.
They arent raising money. Its an s1 for the warrants on the last deal
Not sure why they need to do an offering with 16M ? in the bank. Not really looking out for shareholders are they.
BIO-key's Cloud-Based PortalGuard® Identity-as-a-Service (IDaaS) Platform Expands Footprint to Over 55 California Community Colleges with Addition of Mendocino College
WALL, N.J., April 14, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced the company’s footprint in providing security solutions for higher education continues to grow within the California Community College System with more than fifty-five colleges now under support. Most recently, Mendocino College has selected BIO-key’s PortalGuard IDaaS solution to enhance its online user experience, secure critical enterprise application access, and reduce IT resource-related expenses.
PortalGuard IDaaS will significantly improve user access by providing secure single sign-on to applications, including O365, G-Suite, Canvas, and Ellucian, among others, while replacing Shibboleth IdP, which can be challenging to manage and support. PortalGuard will also enable Mendocino College to reduce up to 95% of their IT help desk costs related to password resets with PortalGuard’s robust self-service password reset capabilities, providing the college with quick time to value. PortalGuard IDaaS has experienced rapid growth from new and existing customers across multiple industries, including education, healthcare, manufacturing, finance, and government, looking to improve their security posture and migrate their IAM strategy to the cloud.
"We are pleased to expand our long-term relationship with the California Community College System," said Mark Cochran, President of BIO-key - PortalGuard. "Higher Education institutions are seeking a partner to assist them with their strategic cloud initiatives and meet the demands for a highly scalable and redundant IAM solution. PortalGuard provides powerful features that strengthen the institution's security posture while also improving the user experience for students, educators, and the IT organization.”
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions, including customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact
Investor Contact
Erin Knapp William Jones, David Collins
Matter Communications Catalyst IR
BIO-key@matternow.com BKYI@catalyst-ir.com
914-260-3158 212-924-9800
BIO-key Announces New Fingerprint Scanner Hardware Additions to Support Secure and Convenient Biometric Authentication
BIO-key extends leadership with comprehensive hardware options and fully integrated IAM platform
WALL, N.J., April 12, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced the immediate availability of several new additions to its lineup of fingerprint scanners to meet the growing demand from enterprises and government for new form factors and USB connection options. First, BIO-key introduced Pocket10™, its FBI FAP50, NIMC- and STQC-certified fingerprint scanner, which captures ten print enrollments in a compact, pocket-sized form factor, allowing highly mobile enrollment capability suitable for national IDs, background check submissions, and law enforcement use. Second, BIO-key unveiled USB-C versions of its popular SidePass® and SideSwipe® fingerprint scanners. With this next generation of affordable hardware options for its customers, BIO-key continues its leadership in developing hardware to support the most secure and convenient authentication method - biometrics.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e05e6b3-f0da-4eb0-b4e5-618ab5d331a4
https://www.globenewswire.com/NewsRoom/AttachmentNg/88769c7e-2fd7-4cf9-af35-be39e789a754
https://www.globenewswire.com/NewsRoom/AttachmentNg/499fc15b-0268-419e-9310-49bbaca351cc
BIO-key’s entire line of single-finger USB fingerprint scanners are all tested and qualified as Windows Hello accessories, allowing enterprises to deliver Windows Hello biometric experiences to users who lack a fingerprint scanner for secure access. Where higher levels of assurance are required, BIO-key’s award-winning PortalGuard® Identity-as-a-Service (IDaaS) platform, offers Multi-Factor Authentication (MFA), Single Sign On (SSO), and Self-Service Password Reset, which incorporates BIO-key’s server-secured biometric management for maximum flexibility and assurance when authenticating users. Additionally, BIO-key’s software is scanner independent, allowing customers to mix and match any of over 40 supported fingerprint scanners to deliver a secure biometric experience. With this unmatched combination of platform and hardware options, BIO-key customers and partners have access to flexible, cost-effective, and secure solutions to secure the way their employees, customers and partners access their systems, no matter where they work.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f0f8bc9-cad4-45e1-b527-fbba9ac66542
https://www.globenewswire.com/NewsRoom/AttachmentNg/54e4baad-a82e-487e-a621-4dc59de368ed
The demand for biometric authentication solutions is increasing rapidly as companies seek to replace outdated security methods provided by password-based authentication. The global market for biometrics is expected to increase from $22 billion in revenue this year to $55 billion in 2027, according to Raconteur. In North America and Europe, respondents note that fingerprint biometrics are faster, more convenient and more secure than passwords or other security methods.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/94b7e2f7-0e72-4c6d-ac9a-e8d986a1bf56
https://www.globenewswire.com/NewsRoom/AttachmentNg/08aa155f-da31-480e-a88f-8f6d3643cffb
“The release of these new low-cost, high-quality fingerprint scanners enable faster, more economical identity workflows for BIO-key customers,” said Kimberly Johnson, Vice President of Products, BIO-key. “Not only are these scanners secure and more convenient than passwords, tokens and phone factors for the end user, they are easily integrated into customers’ existing security solutions and align with our WEB-key and PortalGuard IDaaS platform. BIO-key continues to lead the industry by providing the most advanced and secure biometric product offerings to a broad range of customers and partners.”
For more information about BIO-key’s Biometric Identity Solutions, visit www.bio-key.com
About BIO-key International, Inc.
BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access
management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements, as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019, and other filings with the Securities and Exchange Commission.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Email from Scott Mahken:
“Feeling the pressure to make a quick decision or only evaluate the obvious choices, you can end up stuck with a solution that isn’t the best fit for your IAM strategy.
PortalGuard IDaaS offers options where it matters the most. Options for multi-factor authentication, biometrics, and single sign-on, that can be combined to provide flexible, powerful identity security. With PortalGuard, it's your choice to secure identity the way you want.
Join us for an introduction to PortalGuard IDaaS on Tuesday April 20th at 2pm EST to see the flexible options PortalGuard has to offer around:
Multi-factor authentication – including 15+ authentication methods
Industry-leading Biometrics
Single Sign-on
Self-service Password Management
Desktop Login
And more!
Our 45-minute virtual event includes a live demo by our top IAM experts with 25+ years of experience who are available to answer all of your questions.”
Save Your Spot
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LinkedIn
Twitter
BIO-key Expands Channel Alliance Partner Program in Africa, Adding Kenya-Based Cyber Security Provider Kristel Communication to Sell its Biometric and Identity and Access Management Solutions in High-Growth East African Markets
NAIROBI, Kenya and WALL, N.J., April 07, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced it has added Nairobi, Kenya-based Kristel Communication Ltd., a leading provider of cyber security solutions in Africa, to its BIO-key Channel Alliance Partner Program. Kristel Communication will sell BIO-key’s PortalGuard cloud based Identity as a Service (IDaaS) solution and its biometric hardware and software solutions to commercial and government accounts through its reseller network in Kenya and other East African countries.
Kristel Communication is a leading cyber security solutions provider in Kenya and Eastern Africa with a broad reseller network and diverse array of cutting-edge network solutions that complement PortalGuard IDaaS and BIO-key’s biometric offerings. Kristel is the country partner for Bitdefender, which runs on over 500M systems worldwide, and is a distribution partner for Endpoint Protector, a data loss prevention solution for personal information and intellectual property recognized as a premier solution in Gartner's latest Enterprise DLP Magic Quadrant.
“We are anxious to begin selling BIO-key’s PortalGuard IDaaS solution through our reseller network,” affirmed Ben Obinju, CEO of Kristel Communication. “Our experience with selling cloud-delivered security solutions will be critical as we introduce the PortalGuard platform to our customers. Our customers expect a reduced total cost of ownership by moving to a SaaS model of delivery since the overhead burden of hosting and maintaining the solution is no longer necessary. Many of our customers, such as those in financial services will also take advantage of the integrated biometric solutions that BIO-key offers.”
“We are excited to welcome Kristel Communication to our Channel Alliance Partner Program and expand our footprint in Africa,” said Michael DePasquale, Chairman and CEO of BIO-key International. “Kristel has a demonstrated track record of exceptional customer service, a critical factor for us as we expand into new markets. Our IDaaS solution is a great fit for Kristel and their customers. IAM technology needs to be flexible, available everywhere, and highly reliable, allowing customers to focus on their mission. Integrated biometrics is also extremely important for many of Kristel’s target markets. Kristel has outstanding experience selling cybersecurity solutions in Kenya and other countries in East Africa. They have developed a strong reseller network throughout the region and provide excellent support, ensuring high levels of customer satisfaction.”
PortalGuard IDaaS’s unmatched security, flexibility, ease of deployment and support for fifteen different authentication factors allows customers across myriad industries to become secure “cloud first” businesses, while maintaining the highest levels of security.
PortalGuard IDaaS includes BIO-key’s NIST-certified device-or-server biometric authentication factors, along with fourteen other factor options for flexible authentication. As the demand for always-on cloud computing rises to all-time highs with the global shift to work-from-anywhere, PortalGuard IDaaS lets customers leverage existing authentication factors, accelerate deployments, cut costs and simplify operations instead of managing a mission-critical IAM solution on premise.
IDaaS is expected to experience strong growth. Gartner anticipates a 35 percent global increase in midsize and larger organizations using identity and access management capabilities delivered via SaaS to fulfill most of their identity needs, a prediction made prior to the COVID-19 driven shift to work-from-anywhere. Gartner also predicts growth for biometric authentication given its lower deployment costs, better phishing resistance and superior user experience. BIO-key’s PortalGuard IDaaS and biometric solutions are an efficient and proven means for customers to be ready for whatever challenges the future brings.
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions, including customized enterprise and cloud solutions.
About Kristel Communications, Limited (KLC) (www.kristel.co.ke)
Kristel Communication is a leading cyber security solutions provider in Kenya and has been in the ICT industry offering diverse and leading network solutions. KCL focuses on offering our clients the best and leading solution products, that are current and relevant in managing any network.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our company in particular have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contact
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
Just like in any other industry, cyber attacks in healthcare are quite common. Healthcare's vulnerable to security threats. And there are lots of specific risks, as well as security risks, for health organizations to address. Cybersecurity in healthcare subject of many contemporary debates.
BIO-key Secures $1.2M, Three-Year Contract Extension for Fingerprint Biometric Security Support Services from a Fortune 500 Telecommunications Customer
WALL, N.J., April 05, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (Nasdaq: BKYI), an innovative provider of biometric and multi-factor identity and access management (IAM) solutions for strong, convenient user authentication and large-scale identity applications, announced today that it has secured a $1.2M, three-year follow-on order from an existing Fortune 500 telecommunications industry customer for support services for its enterprise fingerprint biometric authentication platform. The extension will provide ongoing support for the BIO-key biometric authentication system securing access to enterprise resources and confidential customer data by several hundred thousand of the customer’s global personnel and supply chain partners.
Unlike arms-length consumer relationships, enterprises have a higher-trust relationship with their employees and supply chain and must affirmatively secure systems against account delegation and handover, not just takeover. Many multi-factor solutions offer only on-device biometric authentication such as TouchID or FaceID, which is problematic because it allows end-users to delegate or share access by enrolling others into their phones or associating other phones with their account. In the workplace, this approach requires smartphones to be used in sensitive areas such as call centers, interrupts customer interactions in retail, and opens the door to labor law actions or compensation of workers for personal phone use. BIO-key’s authentication platform is more flexible and secure than traditional MFA solutions, in that BIO-key customers can choose between managing and matching biometric credentials on secured servers, in the cloud or on-device, enabling a portable biometric user experience that requires no per-user tokens or smartphone use in the workplace. Additionally, BIO-key includes privacy and compliance by design, with integrated consent management, privacy disclosures and retention management built into all workflows.
Jim Sullivan, BIO-key SVP Strategy, Compliance, and Chief Legal Officer stated, “We are delighted by this high-profile customer’s renewed commitment to our biometric solutions, demonstrated by their support services contract extension. It confirms the competitive benefits, scalability and value of our biometric solutions for large enterprise customers, where a one-size-fits-all token or phone solution does not provide sufficient security to meet many customers’ needs. BIO-key’s server-secured biometrics provide the ultimate authentication tool for enterprises that have come to the realization that they must be absolutely certain who is accessing their systems on premises or remotely.”
About BIO-key International, Inc. (www.bio-key.com)
BIO-key streamlines secure connections between people and the applications they use to get things done. BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution provides convenient and secure access to devices, information, applications, and authorization for high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact Investor Contact
Erin Knapp William Jones, David Collins
Matter Communications Catalyst IR
BIO-key@matternow.com BKYI@catalyst-ir.com
914-260-3158 212-924-9800
I can't remember ever seeing the substantial doubt clause removed in their 10K before:
Going Concern and Basis of Presentation
We have historically financed our operations through access to the capital markets by issuing secured and convertible debt securities, convertible preferred stock, common stock, and through factoring receivables. We currently require approximately $735,000 per month to conduct our operations, a monthly amount that we have been unable to consistently achieve through revenue generation. During 2020, we generated approximately $2,837,000 of revenue, which is below our average monthly requirements. During 2020, we raised approximately $24,000,000 from financing activities and at December 31, 2020 had approximately $17,000,000 in cash. As of the date of this report, the Company has enough cash for twelve to eighteen months of operations, and therefore, there is no longer uncertainty in our going concern status.
http://irdirect.net/filings/viewer/index/1019034/000143774921007486/
International Defense Ministry Continues Expansion of BIO-key Biometric Solutions with Multiple Six-Figure Orders
Source: GlobeNewswire Inc.
BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of biometric authentication and security solutions, today announced it has fulfilled a pair of significant follow-on orders from a leading international defense ministry as part of a major expansion of their BIO-key deployment, initially reported in January of 2018.
After originally being referred to BIO-key by Microsoft’s Windows Core Security and Identity Management Team, the ministry’s technology team evaluated and selected WEB-key, BIO-key’s core biometric software engine, to integrate for strong authentication with Microsoft Windows Active Directory Federation Services (ADFS), delivering biometric single sign-on access control to secure shared files, Microsoft Office applications and Outlook. After successful initial deployment and operation, the ministry has placed multiple follow-on orders, including two in the last 90 days totaling nearly half a million dollars, adding more BIO-key software and hardware to provide secure access by thousands of additional users at thousands more workstations.
“We take particular pride in follow-on orders from our customers because it means we are helping them with their mission as it evolves,” stated Jim Sullivan, BIO-key Senior Vice President, Strategy, Compliance and Chief Legal Officer. “This particular customer is globally recognized for its cutting-edge cyber-security expertise. We were delighted that such a capable and prestigious technology team determined that BIO-key met their security and scalability requirements and have now made several follow-on investments to grow their BIO-key user base. The true test of a product is whether it works for customers after the first deployment so they become repeat customers.” added Sullivan.
About BIO-key International, Inc. (www.bio-key.com)
BIO-key streamlines secure connections between people and the applications they use to get things done. BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions. Its PortalGuard IAM solution provides convenient and secure access to devices, information, applications, and authorization for high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.
Engage with BIO-key
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media Contact
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
DISCLAIMER
Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions. There is no express or implied solicitation to buy or sell securities. The author(s) may have positions in the stocks or financial relationships with the company or companies discussed and may trade in the stocks mentioned. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only. No stock exchange has approved or disapproved of the information here.
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