You're right...I guess anger was clouding my vision. Still, more unfulfilled promises.

It's also important to note that they lowered year end guidance to $5-$6 mil. from $6-$7.5 mil.

Q3 Results Total revenue for Q3'15 decreased to $669,846 compared to a strong 2014 performance of $1,283,847 based on the shipment of a few large non-recurring license orders in Q3'14. Q3'15 license and other fee revenue decreased to $419,655 compared to $787,720 in Q3'14 and service revenues decreased to $250,191 in Q3'15 from $496,127 in Q3'14. The non-recurring custom services decreased due to a customer project that was completed at year-end 2014.

Q3'15 gross margin was 44% as compared to 81% in Q3'14, principally due to the decrease in higher margin license sales and higher volume hardware sales. Q3'15 operating expenses rose 5% to $1,382,566 from $1,314,513 in Q3'14, reflecting increases in both SG&A and R&D expenses related to the expanding scope of the business, costs related to the strategic transactions, and R&D efforts focused on product refresh updates and new product offerings, along with a reclassification of roughly $100,000 of Q3'14 service related R&D expenses to Cost of Goods Sold.

BIO-key reported Q3'15 net loss of ($1,079,584), or ($0.02) per basic share, compared to a net loss of ($51,526), or ($0.00) per basic share, in Q3'14. BIO-key had a weighted average number of basic shares outstanding of 66,038,941 and 58,026,262 in Q3'15 and Q3'14, respectively. Share and per-share figures have been adjusted to reflect a February, 2015 2-for-1 reverse split.

Liquidity and Capital Resources Net cash used for operations during Q3'15 was ($973,836) compared to ($1,696,817) in Q3'14. As of September 30, 2015, BIO-key reported current assets and working capital of $2,425,956 and ($604,256), respectively. Reflecting the impact of the convertible preferred placements and strategic license agreement, as of 11/12/2015 current assets and working capital were approximately $12,800,000 and $11,400,000, respectively.

2015 Financial Guidance The Company's Fourth Quarter 2015 Opportunity Pipeline, representing the aggregate total of all deal opportunities that could book as revenue during the quarter, is comprised of 43 deals valued at approximately $8 million. The Company's opportunity pipeline for the next twelve months (the aggregate total of all deal opportunities that could book as revenue over the next twelve months ending September 30, 2016) consists of 127 opportunities valued at $30 million, as compared to $25.0 million at December 31, 2014 and $25.0 million at June 30, 2015. Given the variability in the timing and size of potential contracts within the Company's sales opportunity pipeline, BIO-key's quarterly financial performance will likely vary significantly from quarter to quarter.

BIO-key has tightened its full year 2015 revenue guidance range to $5 million to $6 million, compared to revenue of $4.0 million in 2014. BIO-key expects Q4 revenue to range between $1.4 million and $2.2 million, versus $1.5 million in Q4 '14.

Gross margin is expected between 75% and 80% for the Fiscal Fourth Quarter and full year 2015 period. Reflecting additional dividend expense, BIO-key has revised its cash breakeven level to annual revenues of roughly $6.9 million.

This inactivity is bizarre and incredibly frustrating.

"We have already closed our first joint FingerQ solution sale for an International mobile payment application."

And, it's already started to pay off.

With all of the good news, nothing like adding a buzz kill of a reverse split lurking in the near future. Really draws the investors.

According to this, they'll need much more than a reverse split.

What are the listing requirements for the Nasdaq?
By Investopedia Staff AAA |
A:

Major stock exchanges, like the Nasdaq, are exclusive clubs - their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on its exchange. Only companies with a solid history and top-notch management behind them are considered.

The Nasdaq has three sets of listing requirements. Each company must meet at least one of the three requirement sets, as well as the main rules for all companies.

Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying reequirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.

In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.

Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.

Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.

Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.

A company has three ways to get listed on the Nasdaq, depending on the underlying fundamentals of the company. If a company does not meet certain criteria, such as the operating income minimum, it has to make it up with larger minimum amounts in another area like revenue. This helps to improve the quality of companies listed on the exchange.

It doesn't end there. After a company gets listed on the market, it must maintain certain standards to continue trading. Failure to meet the specifications set out by the stock exchange will result in its delisting. Falling below the minimum required share price, or market capitalization, is one of the major factors triggering a delisting. Again, the exact details of delisting depend on the exchange.

Thanks Sean. It seemed weird to me that they would be valued at $100 per share when the stock was in the .15-.16 range.

"...84,500 shares (the “Series A-1 Shares”) of Series A-1 Convertible Preferred Stock at a purchase price of $100.00 per share..."

Can someone explain the $100 per share reference in the 8K?

Top...all of your hard work and DD is great, but according to the SP, Biokey may not be involved with any/much of it. It probably would help if management could make a comment/announcement/status report to us mushrooms on something...ANYTHING!!!

Just curious, is it true that Jay only likes to frequent bars that leave the barstools upside down so he can sit comfortably?

What we obviously need is for Oprah to endorse FP technology as a weight loss aid...for chubby fingers!

Are Facial Recognition and Iris Scanning leapfrogging Fingerprint Scanning?

http://www.bostonherald.com/business/technology/technology_news/2015/10/booting_up_iris_scans_better_than_chips_for_card

"BIO-key is integrated with Windows 10"

Hmm, that might be a bit of a stretch Top.

Napco does have the Gemini Bioreader.

http://www.napcosecurity.com/Bioprint.html

They SO overpayed for Marks, a privately owned company. The owner, George Marks, kept saying no...again and again, and finally they made him an offer he couldn't refuse. Btw, Marks, USA is a misnomer. They buy almost everything overseas and assemble it in the states.

Alarm Lock and Marks USA, both owned by Napco, already have fingerprint readers. Napco has been looking to buy many industrial related companies. A few years back they almost bought Dynalock Corp., as well.

Jonq...I retract that post and apologize. Totally uncalled for remark.

Who cares?

"Cutting a fat hog is like working in a cushy government job where you are getting high wages, excellent benefits, excellent retirement plan, very easy work, and almost no chance of getting laid off or fired." Sounds about right.

Bobby1943..."Mike and the boys are cutting a fat hog on this company". Translation, please, lol!

Remember Fundotech? Right about now he would be saying that a double bottom is forming and to load up!

I'd ask Jay about it, but he'd just respond by reciting the entire SEC handbook on what an insider can or cannot say to shareholders.

Wick...who do you think the lucky buyer will be?

Just un-f**king-believable.

At least she got a rise out of you...

Is this board on strike?

Someone should tell Bio-key that the Labor Day holiday was Monday not yesterday

I thought that this was dead money. I was wrong...it's gone money.

Maybe the the 3rd qtr guidance turned off a lot of investors.

Wick...thanks for the info. Nicely done.

Wishful thinking, but wouldn't it be swell if management released earnings after market close today, instead of waiting for tomorrow morning, with record results?!

I feel comfort in knowing that they have saved all the news that they haven't been releasing in months, for Friday. Don't you?

What a joke! Is everybody happy?!!!

IMO, it's starting to like "NEVER."

When I click on "SEC Filings" on the BioKey website, I get this message below:

This service has expired. Please contact Issuer Direct at 919-481-4000 ext. 111 to renew service.

Bob...I hope that's not the answer. I guess we'll know soon enough why they've been playing it so close to the vest.

Wick, I get it...I'm not defending him. I'm super frustrated, too. My thing is that I can't understand why they have been so f**king quiet!

Wick...he never said that.

This is starting to look like fundotech's cup and handle formation. Hope it works out better this time around.