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More About CyberCore’s History
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New York
July 11, 2011
Moelis Capital Partners Announces the Acquisition of CyberCore Technologies
Moelis Capital Partners (MCP), the private equity business affiliated with Moelis & Company, today announced the acquisition of CyberCore Technologies (“CyberCore”), a leading provider of information technology services to the federal government and intelligence community with expertise in cyber security, systems integration, and secure supply chain management.
Headquartered in Elkridge, Maryland, CyberCore’s supply chain management services include the secure procurement, installation, integration, and management of complex IT systems to streamline customers’ acquisition and refresh cycles. CyberCore also provides a full suite of IT managed services, including network engineering and architecture, systems engineering and lifecycle management. CyberCore supports numerous long-term IT engagements, including some of the largest IT contracts to the defense and intelligence communities. Approximately 80 percent of CyberCore’s more than 200 employees are high-level engineers, working to ensure the security of critical customer IT infrastructure. The company has recently added a new state-of-the-art facility with a cutting-edge integration center and lab to fully support the company’s intelligence community customers. Prior to the acquisition, CyberCore was a portfolio company of Roark Capital Group, an Atlanta-based private equity firm.
“We are excited about this partnership and believe it will help us grow and better meet the mission-critical needs of our customers,” said Kevin Powderly, Co-Founder and Co-CEO of CyberCore Technologies. “This is a time of advancement and transformation in technology and MCP’s involvement will allow CyberCore to offer an even more innovative suite of services going forward.” Kevin and his brother John, who co-founded CyberCore in 2000, will retain a significant equity ownership interest and continue their leadership roles as Co-CEOs.
Kurt Larsen, Managing Partner of Moelis Capital Partners, said, “We were impressed by CyberCore’s strong leadership team and successful track record. The company has developed a reputation for providing leading IT procurement, asset management and related engineering services to the most demanding clients. We’re particularly excited by the company’s growth prospects and we look forward to working with this talented management team.”
Chris Mills, President of CyberCore, said, “This new capital will enable us to expand and manage our business more effectively during this exciting growth period. We are pleased that MCP sees the importance of fostering the development of technology companies leading the way in cyber security.”
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According to Gov. Martin O'Malley, the field of cybersecurity is growing in Maryland at a fast rate.
Elkridge-based CyberCore Technologies is on the cutting edge of that growth, he said.
Company Co-founder Kevin Powderly shared some fast facts about the business:
CyberCore was founded in 2000 by brothers Kevin and Tom Powderly. Tom Powderly has been recognized in Smart CEO magazine.
The company was originally located in Timonium; in 2006 it moved to its Elkridge location.
In 2007 the company was recognized in Smart CEO magazine as one of the future's 50 fastest growing companies. "It a really short period that we started rapidly growing," Kevin Powderly said."The market has really driven a tremendous amount of opportunity."
The company recently opened an expanded, "state-of-the-art," $4.5 million high-tech, all-glass expansion to its Elkridge facility.
The company employs 250 people from high-tech engineers to sales people. A large portion of the workforce has the highest level government security clearance.
The company takes in approximately $250-300 million in annual revenue.
Kevin Powderly describes what the company does as "protecting the integrity of data that flows through networks" against hackers or other cyber-attackers. The company provides such services as network vulnerability testing. "We're protecting the information that flows through the World Wide Web," Powderly explained.
The company's biggest client is the Department of Homeland Security and other intelligence organizations.
Powderly calls some of his employees "cyber-warriors."
The Powderly brothers were recognized in 2005 by Earnst & Young as Entrepreneurs of the Year.
WALL, N.J., Nov. 01, 2017 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (Nasdaq:BKYI), an innovative provider of biometric software and hardware solutions for strong and convenient user authentication as well as biometric-based consumer products, announced today the U.S. sales launch of its TouchLock™ line of biometric and Bluetooth enabled padlocks and bicycle locks. A selection of TouchLock products are now available for purchase through the company’s newly developed e-Commerce website (shopbio-key.com) and via Amazon.com as well as in select stores in the coming weeks and months via established retail and distribution partners.
A leading government defense contractor has selected BIO-key to secure employee access to their online infrastructure using BIO-key’s SideSwipe fingerprint reader solution.
WALL, N.J., Oct. 09, 2017 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ:BKYI), an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, today announced that a leading government defense contractor has selected BIO-key to secure employee access to their online infrastructure using BIO-key’s SideSwipe fingerprint reader solution. The initial purchase order valued at approximately $75K will enable compliance with regulatory requirements for multi-factor authentication and will lead to additional opportunities as the solution is deployed.
BIO-key's SideSwipe fingerprint reader offers native support for Windows Biometric Framework, which streamlines the implementation of biometric authentication into an enterprise network. The contractor provides highly sensitive solutions to government and commercial customers in space, aviation, cyber, electronics, telemedicine, navigation and systems integration applications. BIO-key worked together with the customer’s integration team to deliver the interoperability necessary to connect with and support their existing authentication system.
Mike DePasquale, Chairman & CEO, BIO-key commented, “This project confirms the security, workflow and return on investment benefits of our solutions in enabling customers to meet rigorous governmental requirements for strong multi-factor authentication. Defense contractors must be at the cutting edge of highly secure and cost effective solutions to protect their sensitive infrastructure from security threats, and we are pleased to have been selected as their preferred biometric security provider.”
Q2 Earnings Report
WALL, NJ -- (Marketwired) -- 08/14/17 -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, today reported results for its second quarter (Q2'17) and six months ended June 30, 2017 and reviewed recent business developments. BIO-key will host a conference call for investors tomorrow at 10:00 a.m. EDT (call details below).
Q2'17 Financial Highlights:
Total revenues rose 113% in Q2'17 to $887,000 vs. Q2'16, but did not include a $600,000 professional services contract executed in Q2'17 which will be recognized during the second half of 2017.
Software
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license revenues rose 76% to $128,000 reflecting demand from both new and existing customers.
Hardware sales rose 281% to $467,000, reflecting broader distribution and increased demand for BIO-key's fingerprint reader lines with plug & play integration to Windows 10.
Q2'17 results also included $158,000 in revenue from initial shipments of BIO-key's recently launched TouchLock™ line of biometric padlocks and bicycle locks in Asia.
Other Highlights:
An Australian government agency selected BIO-key's ID Director Software and SideSwipe Finger Scanners.
Global Financial Institution selected BIO-key's Biometric ID Solutions to Secure Windows 10 Devices Across 189 Countries.
Japanese Security Systems Integrator DDS ordered 30,000 SideSwipe fingerprint readers for customers in Japan, China and other Asian markets.
Global Firearms Manufacturer selected BIO-key Biometric Authentication Solutions for Workstation & Kiosk Access.
BIO-key Common Stock was up-listed to Nasdaq Capital Market where it commenced trading on July 25th. BIO-key celebrated its listing by ringing the Nasdaq Closing Bell on August 10, 2017.
Michael DePasquale, Chairman & CEO of BIO-key, commented, "We are encouraged by our sales and marketing progress on a global basis during the second quarter and first six months of 2017. Based on this performance and our pipeline of hardware and software opportunities, we remain very optimistic about BIO-key's growth potential and reiterate our full-year financial guidance.
"We are particularly gratified to build upon our relationship with a Fortune 500 telecommunications customer that selected BIO-key to support their endpoint security implementations through a $600,000 professional service engagement we expect to fulfill over the next two quarters.
"Software license sales rose 76% in the second quarter based on both new and existing customer demand. We continue to pursue a range of larger enterprise software opportunities, primarily within highly regulated industries like healthcare, government and financial services that are under the greatest pressure to adopt new security and authentication technologies. These dialogues also have the potential to drive hardware sales. Unfortunately, given the range of factors involved with each discussion, it's extremely difficult to predict the scope or timing of these potential deals.
"Hardware solutions were a bright spot in our second quarter performance as we achieved solid sales increases for our SideSwipe, SideTouch and EcoID fingerprint readers, and we also shipped initial orders of our new TouchLock line of biometric and Bluetooth enabled padlocks. We are pleased to see growing interest and encouraging demand trends building across our enterprise and consumer hardware solutions and expect this area to be an important contributor to second half results.
"Moreover, we continued to make progress in expanding our distribution channels on a global basis while actively supporting them with sales and marketing initiatives. To this end, we are currently in discussions with a leading national television shopping network that reaches nearly 100 million U.S. households to develop BIO-key product-based programing. We believe this broad visibility represents both an excellent sales opportunity as well as a powerful platform to build business and consumer awareness and understanding of the benefits and value of our solutions.
"Finally, we are excited to have successfully up-listed to Nasdaq. Beyond providing a more visible, accessible and liquid market for our common stock, we believe the visibility and credibility provided by a Nasdaq listing should also provide substantial sales and marketing support by raising the visibility of our solutions and brand before prospective customers and partners on a global basis."
Second Quarter and First Six Months Results
Q2'17 total revenue increased 113% to $886,881 compared to $415,814 in Q2'16, reflecting solid increases in both hardware sales and software license activity that offset a decrease in services revenue related to software maintenance. For the first half of 2017, sales increased 172% to $2,305,216 from $846,406 in the prior-year period.
Sales of fingerprint reader hardware rose 281% to $467,000 in Q2'17, reflecting growing demand and an expanded base of distribution channels. In addition, Q2'17 included approximately $158,000 in revenue from initial shipments of BIO-key's new TouchLock line of biometric padlocks. Software license revenue increased 76% to $128,000, and services revenue declined 39% to $134,061 reflecting lower revenue from software maintenance.
Gross margin decreased to 10.3% in Q2'17 from 67.2% in Q2'16, reflecting a higher percentage of hardware sales that carry lower margins, as well as $389,000 of non-cash amortization related to the license to the Finger Q portfolio of mobile and online payment security software technologies. FingerQ's mobile security capabilities have been incorporated into BIO-key's existing solutions and initial sales have commenced.
Q2'17 operating expenses increased to $1.8M from $1.6M, principally due to a $0.4M increase in selling, general and administrative expenses, primarily related to BIO-key's Hong Kong subsidiary, commitment fees and commissions, offset by a $0.1M reduction in research, development and engineering costs in the period.
BIO-key's Q2'17 net loss was ($1.8M), or ($0.32) per share after preferred dividends, as compared to ($1.4M), or ($0.29) per share after preferred dividends, in Q2'16. The slightly higher loss was primarily due to the decrease in gross margin and the increase in operating expenses. For the first six months of 2017, BIO-key's net loss was ($3.1M), or ($0.57) per share after preferred dividends, versus ($2.5M), or ($0.53) per share after preferred dividends, in the first half of 2016.
Per share results in Q2'17 and first six months of 2017 are based on a weighted average of 6.4 million and 6.2 million respectively, and Q2'16 and first six months 2016 are both based on a weighted average of 5.5 million basic shares outstanding, which have been adjusted to reflect the impact of the Company's 1-for-12 reverse split in December 2016.
Financial Guidance
Based on the company's year to date performance, combined with anticipated revenues discussed herein and sales and marketing efforts for its hardware and software solutions, including several large enterprise opportunities in pilot stages, management reiterates its 2017 revenue guidance range of $6M to $12M, with a gross margin range of 53% to 70% depending on the mix of software and hardware sales.
Liquidity & Other Resources
At June 30, 2017, total cash and cash equivalents plus current receivables was approximately $1.8 million, as compared to approximately $2.6 million at December 31, 2016. On April 28, 2017, BIO-key raised $1 million through the sale of common stock priced at $3.60 per share in a private placement with an existing investor and board member.
Conference Call and Webcast Replay
Date/Time: Tuesday, August 15, 2017 at 10 a.m. EDT
Dial-In number: 1-877-418-5460 U.S. or 412-717-9594 International
Webcast Replay: Q2'17 Webcast & Replay - available for 30 days.
Audio Replay: 1-877-344-7529 U.S. or 412-317-0088 Int'l; code 10111348
Tokyo, Japan and Wall, NJ, June 19, 2017 – BIO-key International, Inc. (OTCQB: BKYI), an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, announced today that DDS Inc. (TYO:3782:JP), a leading Japanese security solutions provider, has selected BIO-key’s SideSwipe finger scanners to provide secure biometric authentication for its custom, Windows based authentication solutions. DDS, which develops and delivers information security products to support the diverse online requirements of enterprise customers throughout Asia, has purchased an initial 30,000 devices for deployment in customer implementations. DDS is a system integrator for Nippon Telegraph and Telephone (NTT) Group, Japan’s largest telecom, governmental organization and corporate customer.
“After researching options for an affordable, Windows-compatible fingerprint reader, BIO-key’s compact readers, which are tested and qualified by Microsoft, stood out as the most compelling solution,” stated Kenji Miyoshino, President & CEO, DDS. “We chose SideSwipe because of its performance capabilities, native integration with Windows and its ability to support DDS solution packages. SideSwipe works well with DDS’s “EVE MA” solution, which offers flexible multifactor authentication options including ID Card and fingerprint, as well as our “EVE FA” solution for large scale ID programs with authentication taking place on the server.”
“We are excited to announce DDS as a major OEM customer in Japan,” stated Wong Kwok Fong, Managing Director, BIO-key Hong Kong Limited. “SideSwipe was designed to deliver fast and accurate fingerprint authentication with the ability to support any Windows 7, 8.1 or 10 device. We look forward to working closely with DDS to support their customer deployments and look to expand our relationship to other BIO-key fingerprint solutions, such as our new SidePass reader, in the future,” added Wong.
Cheers.
June 14, 2017 – BIO-key International has secured initial orders for its TouchLock line of biometric locks, which were debuted at CES in January.
By Stephen Mayhew,
Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.
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Each TouchLock model allows for multiple users’ fingerprints to be registered, depending upon the use case. The original owner or enrollee becomes the lock’s administrator and is able to manage between 1 to 20 different user fingers.
BIO-key’s lock line includes: a heavy-duty, water resistant padlock for outdoor use; a luggage lock that meets TSA travel lock standards; a compact lock for smaller portable items such as a purse or briefcase; a bike lock, and; a bluetooth enabled padlock.
“Our Asia Pacific sales team is pleased to have procured initial orders from our first distribution customers in Japan and China,” stated Wong Kwok Fong, managing director, BIO-key Hong Kong Limited. “Additionally, we have opened discussions with some of the largest bicycle manufacturers in both countries about bundling our biometric locks with the purchase of their bicycles.”
“The commercial launch of these innovative products is a major milestone for BIO-key’s consumer facing business and a direct benefit of our strategic partnership and presence in Asia,” commented Mike DePasquale, company chairman and CEO. “It’s fitting that we achieve our first commercial orders in Asia. We are working to build upon these sales in Asia at the same time we are in discussions with distributors and retailers in the U.S.”
The company will be showcasing the TouchLock series at GIFTEX 2017 next month in Tokyo, Japan.
Lloyds Bank to Trial Windows Hello Login for Customers
Posted on April 17, 2017
The UK’s Lloyds Banking Group has partnered with Microsoft to enable secure login for customers using Windows Hello biometric authentication.
Lloyds Bank to Trial Windows Hello Login for CustomersWhile the bank was relatively slow to come around to the Apple Pay mobile payment platform in 2015, it’s evidently eager to be at the forefront of new security technologies like the biometric authentication capabilities of Microsoft’s latest Windows operating system. It is just a tentative step in this direction, however, with the bank planning a pilot program to test the system in the later half of this year, with participating Windows 10 users able to log in to their Lloyds Bank, Bank of Scotland, and Halifax accounts using fingerprint or facial recognition.
In a statement announcing the pilot test, Lloyds emphasized the security of Windows Hello, noting that its facial recognition system uses infrared cameras, and that biometric data is stored locally, not in an external server that could be hacked. Lloyds Group Digital & Transformation COO Gill Wylie commented that she is “delighted we are the first banking organization in the UK to work with Microsoft on Windows Hello, and excited to see how our customers use this feature.”
Lloyd’s interest in Windows Hello biometric security comes amid growing hardware support for the technology, with a wide range of devices now available that allow Windows Hello functionality.
April 17, 2017 – by Alex Perala
In the Earnings Report Conference Call this morning it was announced that the name of the Fortune 500 company that signed a contract with BIO-key last December will be released soon. That should have a very positive affect on the BIO-key stock price.
TRDG puts security first with BIO-key’s TouchLock padlock
by Helen Pawson, Brands Editor
helen@moodiedavittreport.com
Source: ©The Moodie Davitt Report
20 March 2017
Travel Retail Distribution Group (TRDG) has added American company BIO-key to its brand portfolio.
TRDG will present BIO-key’s new TouchLock padlock at next week’s IAADFS Duty Free Show of the Americas (booth 1323).
TouchLock is a biometrically-enabled padlock that secures luggage, laptop bags and purses while travelling. The product is patented to include a TSA-approved locking and unlocking mechanism.
BIO-key specialises in the development of Biometric of Things (BoT). In 2015, the company introduced a line of compact fingerprint readers that are tested and qualified for Windows Hello.
BIO-key said key compact fingerprint readers for Windows address the ongoing battle with password fatigue.
BIO-key has received a 'notice of effectiveness'.
The notice of effectiveness is a public declaration by the Securities and Exchange Commission that a public company's registration statement has been accepted.
Biometric Update
January 13, 2017 –
By Justin Lee
Microsoft recently noted in a blog post that there are as many as 100 Windows devices and accessories across all platforms starting from laptops, all-in-ones, 2-in-1s, tablets, phones to peripheral devices use Windows Hello.
Windows Hello, a key biometric authentication feature of Windows 10, enables people to use their face, iris or fingerprint biometrics to unlock and gain access to Windows 10 devices.
So all you need to do is just look or touch to sign into the Windows device using the technology that Microsoft says is safer than traditional passwords.
As Microsoft’s first biometric solution partner, BIO-key International, Inc. paved the way for Windows Hello biometric-enabled devices. From November 2015 to December 2015, BIO-key demonstrated fingerprint readers at the Microsoft Ignite your Business with Windows 10 and Office 2016 launch events. The promotional tour was designed to help educate IT professionals, technical decision makers and enterprise developers about Windows 10 and Office 2016, including the biometric authentication logon capabilities available to Windows customers.
More recently, BIO-key launched a pair of new fingerprint readers — EcoID for desktops and SideTouch for tablets and laptops — to allow consumers to take full advantage of biometrics to secure their non-mobile or less-mobile devices.
Now, more than a year later, Microsoft has expanded the number of biometric-enabled Windows devices and accessories available across all platforms to more than 100 devices.
The company currently has more than 20 partners — which include HP, Lenovo, Xiaomi, Huawei and Asus — delivering Windows Hello devices.
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Best of Luck
OK! Everybody hold on tight!
It's gonna be a bumpy ride!
New BIO-key products will be revealed at CES event.
Las Vegas, NV & Wall, NJ – December 22, 2016 - BIO-key International, Inc. (OTCQB: BKYI), an innovative provider of biometric software and hardware solutions will debut several innovative products that expand its suite of fingerprint biometric solutions at the Consumer Electronic Show (CES) Thursday, January 5th – Sunday January 8th in Las Vegas - Booth #2317 (Hilton, Tech East – Westgate). BIO-key will also host a CES investor briefing Friday, January 6th at 2:00pm PT (details below).
At CES BIO-key will unveil:
• FreePass™ a wearable, mobile USB fingerprint reader for Windows that is ideal for users that want to employ biometric security and convenience on multiple devices.
FreePass gives customers the freedom to bring their identity from device to device without entering passwords or PINs.
• The TouchLock™ line of fingerprint biometric padlocks, including TouchLock BLE™ a Bluetooth enabled model that can be operated with a smartphone. TouchLock eliminates the need to enter a combination, which can be easily compromised or the need for a key which is inconvenient, especially if misplaced or lost.
TouchLock protects customer’s belongings with the convenience of one touch biometric security.
• SidePass™ a compact, square, mobile and durable touch reader for Windows.
SidePass replaces your password or PIN and provides one touch instant access to your device, websites, files and applications using your biometric.
• Q-180 Touch, a Micro USB compatible fingerprint reader for Android devices.
This compact reader for Android is designed to offer a strong layer of security and the convenience of biometric sign-in.
Mike DePasquale, Chairman & CEO, BIO-key, “Our new product introductions build on our initial line of Windows 10 compatible compact fingerprint readers that began shipping in volume this Fall. Seeing the rapid growth in deployment and consumer use of biometrics on smartphones, we committed to developing additional products that would provide consumers with convenient security they can use for daily access to information or to protect physical assets.
BIO-key is using the power, flexibility, ease of use and cost benefits of fingerprint biometrics to solve important business and consumer problems. As the worlds of media, communications and technology increasingly collide – the need for more effective security and authentication systems grows in urgency. CES provides the perfect backdrop to launch our next generation biometric solutions – as each new product line solves security and convenience challenges for consumers as well as the enterprise.”
Kelvin Wong, Managing Director of BIO-key Hong Kong Ltd. added, “Fundamentally, our goal is to create an entire ecosystem of traditional products, used daily by consumers that have been substantially enhanced in their function and security through the addition of our biometric technology. These new offerings combined with our other products, all further our mission of bringing ‘The Power of Touch’ to solutions on a global basis.
“For the hundreds of millions of consumers worldwide that use padlocks in their daily lives – on a suitcase in a storage room or locker – the challenge is remembering and securing the combination or keeping track of and protecting the key. We’ve developed a lock that can be enabled with the owner’s fingerprint and another lock that includes Bluetooth technology and can be opened using your fingerprint on your smartphone.”
CES Investment Community Briefing and New Product Showcase
Investors and interested parties are invited to visit BIO-key’s CES booth (Tech East - Westgate 2317) on Friday, January 6th at 2pm PT. BIO-key’s Chairman & CEO, Michael DePasquale and SVP Sales, Jim Sullivan will lead an informal session which will review the Company’s growth strategy, highlight the new products launching at CES 2017 and provide an opportunity for Q&A. Those planning to attend this session are requested to RSVP to bkyi-ces@catalyst-ir.com with their name, contact information and number of people in their party.
It should be a good day tomorrow.
'yukoncole' IGNORIZED!
An SEC Form 4 was filed today by BIO-key Director Kwok Fong Wong to show he acquired 6,200,000 more shares of BIO-key stock on Friday. He now owns 12,594,947 shares and about 12% of the company.
The form says the price was $0.30 per share, but BIO-key hasn’t been above $0.22 in months. I gather the large purchase drove the price up.
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I’m hoping this filing is related to the news today about BIO-key signing an agreement with Shinden Hightex Corp. headquartered in Tokyo, Japan.
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HONG KONG / ACCESSWIRE / November 21, 2016 / BIO-key International, Inc. (BKYI), an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, announced today that the company has signed an international distribution agreement with Shinden Hightex Corporation (JASDAQ:3131) a specialty electronics components trading organization headquartered in Tokyo, Japan. Shinden Hightex Corporation started in 1995 and today has over 150 employees in the APAC region and revenues exceeding $450M USD. The company has offices throughout Japan and regional offices in Seoul, Bangkok, Hong Kong and Singapore. Shinden Hightex Corporation's list of offerings includes LCD, RF-ID Cards and Semi-Conductor products. Marquee customers include Toshiba, Sony, NEC, Ricoh and Panasonic.
"BIO-key is highly committed to serving the demand for convenient online security in the APAC market," stated Wong Kwok Fong, Managing Director, BIO-key Hong Kong Limited. "Enterprises and consumers in this market have been early adopters of biometric technology, as they embrace the benefits the technology delivers. Our new line of compact fingerprint readers for Windows is revolutionizing the way the world is conducting online authentication and Shinden Hightex Corporation has cultivated and managed relationships with many companies in the APAC market, that could immediately benefit from our technology," added Wong.
"We are very excited about adding BIO-key's secure authentication solutions as our new product portfolio into national distribution through our enterprise and government. Security is the biggest concern in Japan which must be built quickly as social infrastructure, especially toward for the Olympic Games that will take place in Tokyo, Japan in 2020. It is very much an honor that we are able to deliver BIO-key's products and solutions to protect us from security threats," stated Tamotsu Shiroshita, President of Shinden Hightex Corporation.
About Shinden Hightex Corporation (http://www.shinden.co.jp/english/)
Shinden Hightex Corporation is a specialist trading firm dealing in the sale of electronics components and products. Since company establishment, has been delivering the products and solutions to precisely meet the needs of customers by ascertaining technology, quality and specifications with expert eyes from among a great number of products, as the function of a trading company, but also supply chain management which allows company to flexibly support significant technological innovations and market conditions that change on a daily basis.
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Best of Luck.
There were 4 more BIO-key Directors that acquired stock on November 9. The number of shares acquired by each was 11,111 or less.
Someone posted a reply stating the low number of shares acquired means it wasn't good news. It sure was a lot better than selling shares would have been considering the Q3 report is coming out next week. I would imagine the Directors could have postponed the acquiring of the stock until after the Q3 Earnings Report if it was going to be BAD news!
But I just think some people like to complain no matter how insignificant the statement mind have been.
Cheers.
It's nice to see a BIO-key Director acquiring 11,111 shares of company stock a week before the 3rd Quarter Earnings Report. Let's hope we see some more acquisitions before the end of the week.
Best of Luck.
Q3 Conference Call on Tuesday, Nov 15.
WALL, NJ / ACCESSWIRE / November 4, 2016 / BIO-key International, Inc. (BKYI), an innovative provider of biometric software and hardware solutions for stronger user authentication, will host a conference call to review its Q3 2016 progress and results on Tuesday, November 15th, 2016 at 10:00 am EST. Results will be issued on Monday, November 14th after the market closes.
Participating on the call will be Mike DePasquale, Chairman & CEO and Cecilia Welch, CFO and Barbara Rivera, COO.
Call Dial In #: 1-877-418-5460 U.S. or 412-717-9594 International
Live Webcast / Replay: BKYI Q3 Webcast & Replay - Available for 30 days.
Audio Replay: 1-877-344-7529 U.S. or 412-317-0088 Int'l; code 10096411#
News from Reuters. Oct 26,2016.
China Goldjoy Group Ltd
* Unit entered into provisional agreement with vendor to acquire property for hk$248.1 million.
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That's about $32 million USA.
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That's all the news I could find about it.
China Goldjoy invested $5 million in IDEX.
NEXT Biometrics Group ASA (OAX:NEXT) announced Dell Inc. has implemented NEXT fingerprint sensors in a range of their 2016 Commercial and Ruggedized market Notebook and Tablet products.
September 26, 2016 -
With the release of Windows 10, many consumers are quick to notice changes to the Start Menu and Action Center, but the new Windows Hello identity management program may be the improvement with the most lasting impact. BIO-key has launched a pair of new fingerprint readers to allow consumers to take full advantage of biometrics to secure their non-mobile or less-mobile devices.
BIO-key’s EcoID for desktops and SideTouch for tablets and laptops leverage the biometric capabilities built into Windows 10, which offers an easy break from the password as the primary means of authentication.
Windows Hello allows the user to choose to use a sensor like the EcoID to log on to their Windows 10 account. Advanced features of Hello will be introduced soon allowing customers to use their biometrics to sign in to popular websites and applications.
The EcoID features a 12mm x 17mm Active Thermal sensor from NEXT Biometrics, providing 180×256 pixel resolution, housed in a small but durable plastic shell, adorned with rubber sections to keep it from sliding around on your work surface, and a USB slot
The SideTouch captures fingerprints with a 7.8mm squared IDEX Eagle II sensor at 113×115 pixel resolution, and a lower power draw than the EcoID (less than 25 ma at 5 to 5.5 volts) to avoid draining device power.
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Between Microsoft, IBM, Dell, and China Goldjoy, BIO-key should have a very prosperous future.
I was glad to see the EcoID fingerprint reader is on Amazon and for only $39.99.
Unfortunately, my desktop can't be upgraded to Windows 10.
https://www.amazon.com/BIO-key-Compact-Enterprise-Fingerprint-Biometric/dp/B01L7XO5H2/ref=sr_1_1?s=electronics&ie=UTF8&qid=1475014073&sr=1-1&keywords=ecoid+fingerprint+reader
Cheers
China Goldjoy Acquires Properties of Baonengcheng for Approximately HK$366 Million($47 million dollars) With Prominent Location Bringing in Value and Additional Source of Income.
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For what it's worth:
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HONG KONG, Sept 19, 2016 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; stock code: 1282) is pleased to announce that the Group has entered into an agreement on 13 September 2016 to acquire properties at Hefei City, the PRC, for a total consideration of RMB315,054,000 (equivalent to approximately HK$365,746,000($47 million dollars)).
The properties are located at Hefei City, Anhui Province, the PRC and a portion of Phase 2 of the Baonengcheng project. Binghu district, which Baonengcheng is located, is one of the most popular districts in the Hefei City's property market. The Baonengcheng project is adjacent to the heart of provincial capital and the offices of the back-office operations of the international financial services providers with favorable geographical location. The Group is confident that the acquisition will contribute positively to the Group by bringing in additional source of income from such investment.
The properties are buildings no. 3 and no. 8 (excluding floors 1-2, which are intended for commercial use). Currently, construction of the properties has not been completed, but the properties are qualified for pre-sales. Building no. 3 has a gross floor area of 14,288.04 sqm with 39 floors on the ground, and building no. 8 has a gross floor area of 17,616.90 sqm with 49 floors on the ground (floor 3-49 for residential use). The properties comprise 344 units in total. By comparing the selling price of the properties in the same area, the total amount of acquisition is very reasonable. It is expected to bring substantial return on investment to the Group.
China Goldjoy has been actively implementing a diversified development strategy in recent years. Investment, development and operation of quality property is set to become one of the Group's core businesses in the future. The Group also plans to continue to look for property investment opportunities in focus areas and regions with development potential so as to capture the opportunities arising from the flourishing real estate market. Hefei City, where the Group's target properties are located, has also shown rapid economic growth and strong development potential in recent years with the rise in the region's property prices ranking among the top in the country.
China Goldjoy's announcement mentioned that as one of the applicable percentage ratios (as defined under the Listing Rules) in respect of the acquisition is more than 5% but less than 25%, the acquisition constitutes a disclosable and connected transaction of the Group, and is subject to the reporting, announcement, circular and independent shareholders' approval requirements under Chapter 14A of the Listing Rules. Related shareholders will abstain from voting at the EGM. An independent board committee will be formed to advise the independent shareholders on the sale and purchase agreement and the transactions contemplated thereunder. The independent financial adviser will be appointed to advise the independent board committee and the independent shareholders in this regard.
Mr. Feng Huiming, Executive Director and Senior Vice President of China Goldjoy, said, "As the property market shows a good momentum of development, the Group considers this acquisition as a good investment opportunity and believe that China Goldjoy will benefit from the anticipated growth in value of the properties."
About China Goldjoy Group Limited (HKEx stock code: 1282)
China Goldjoy Group Limited is principally engaged in the development of a range of high technology products; trading and providing services with respect to automation-related equipment; securities investment; and strategic investment and development in technologies mainly related to biometric security, high-speed wireless data transmission and communications. The Group has completed the acquisitions of six financial institutions including KB Credit, China Yinsheng Asset Management, China Yinsheng Securities, China Yinsheng Wealth Management, KB Investment and KB Bullion in August 2016 and has included financial services as one of its principal businesses. After the acquisition of the integrated financial services and asset management business, the Group is identifying appropriate investment opportunities in new energy and emerging industries. It aims to expand into new industries and new markets and also realize its diversified development strategy through the implementation of a series of strategic transformation measures.
This is an update to the buying activity of BIO-key Board member Mr. Wong Kwok Fong(Kelvin) for all 5 days last week.
On Friday he bought 651,500 shares.
Mr. Wong Kwok Fong(Kelvin) has filed another SEC FORM 4. He has bought a total of 2,418,675 shares of BIO-key stock for all of last week. He now owns over 6,383,836 million shares. Coincidentally, China Goldjoy purchased a Chinese company for about $40 Million last week. Something good must be cooking in the kitchen.
BIO-key Board of Directors member Wong Kwok Fong(Kelvin) is the co-founder of China Goldjoy Group (previously World Wide Touch Technology Holdings Limited). From 1997 until August, 2015, Mr. Wong served as the chairman of China Goldjoy Group and currently serves as its Chief Technology Officer. During this time, Mr. Wong played a significant role in the substantial growth of the business. Mr. Wong brings over 14 years of senior management experience in manufacturing, supply chain, and marketing functions in the electronics and technology industries, including establishing manufacturing plants in Hong Kong and China, and building an extensive network in the electronics and technology industries. Mr. Wong’s substantial experience in the technology industry, including biometrics and payment systems, and serving the Asian markets, broadens and strengthens the Board’s collective qualifications, skills, and experience.
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Mr. Kwok Fong Wong(Kelvin) has bought a total of 1,767,175 shares of BIO-key stock this week. He now owns over 5.7 million shares. Coincidentally, China Goldjoy purchased a Chinese company for about $40 Million last week. Something good must be cooking in the kitchen.
BIO-key Board of Directors member Wong Kwok Fong(Kelvin) is the co-founder of China Goldjoy Group (previously World Wide Touch Technology Holdings Limited). From 1997 until August, 2015, Mr. Wong served as the chairman of China Goldjoy Group and currently serves as its Chief Technology Officer. During this time, Mr. Wong played a significant role in the substantial growth of the business. Mr. Wong brings over 14 years of senior management experience in manufacturing, supply chain, and marketing functions in the electronics and technology industries, including establishing manufacturing plants in Hong Kong and China, and building an extensive network in the electronics and technology industries. Mr. Wong’s substantial experience in the technology industry, including biometrics and payment systems, and serving the Asian markets, broadens and strengthens the Board’s collective qualifications, skills, and experience.
Kwok Fong Wong has filed another SEC FORM 4. He now owns over 5.7 million shares of BIO-key. Coincidentally, China Goldjoy purchased a Chinese company for about $40 Million last week. Something good must be cooking in the kitchen.
Kwok Fong Wong bought about 480,000 more shares of BIO-key over the last 2 days. An SEC FORM 4 has been filed. He has about 4.8 million shares now.
I found this recent news very interesting and hope it will foreshadow good news for BIO-key in the near future.
Mr. Yao Jianhui is a member of the BIO-key Board of Directors as well as the CEO and Chairman of China Goldjoy. He recently bought more shares in Goldjoy for $1.5 million.
Mr. Wong Kwok Fong is also a member of BIO-key Board of Directors as well as the CTO of China Goldjoy. Mr. Fong has bought about 4 million shares of BIO-key is the last 3 months.
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China Goldjoy Announces 2016 Interim Results; Revenue Surges 30.9% to HK$328.5 Million
Focuses on the Development of Comprehensive Financial Services, Asset Management and Emerging Industry;
Executes Diversified Development Strategies
HONG KONG, Aug 27, 2016 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; stock code: 1282) today announced its interim results for the six months ended 30 June 2016 ("period under review"). The Group has made further improvements to its business performance, resulting in profit growth.
During the period under review, the Group pushed ahead with its development in high value-added and diversified businesses. It has also eliminated the low-margin and low value-added electronic manufacturing business in an effort to allocate resources to business segments with greater growth potential. Furthermore, with the development focus shifted to comprehensive financial services, asset management and emerging industry, the Group's performance has shown significant improvement. During the period under review, the Group recorded a net profit attributable to equity holders of HK$14.9 million (corresponding period in 2015: loss of HK$34.9 million). Basic earnings per share were 0.07 HK cents (corresponding period in 2015: basic loss per share of 1.19 HK cents). Revenue surged 30.9% to about HK$328.5 million (corresponding period in 2015: HK$250.9 million). Automation products remained the largest source of revenue for the Group and accounted for approximately 80.4% of total revenue (corresponding period in 2015: 61.8%). As part of its transformation strategy, the percentage of revenue from the manufacturing business further decreased to 6.6% (corresponding period in 2015: 38.2%), whereas the securities investment business commenced last year accounted for 12.6% (corresponding period in 2015: N/A).
Mr. Yao Jianhui, Chairman and Chief Executive Officer of China Goldjoy, said, "We have placed emphasis on developing the comprehensive financial services, asset management and emerging industry during the period. The securities investment business added last year has generated fruitful returns for the Group, which shows that our transformation strategy is heading in the right direction. To capture the immense potential of the financial service industry in the PRC, we have acquired a number of financial institutions during the period under review to tap the financial market segment. The acquisition and development of various financial institutions has enabled us to provide more comprehensive financial services for our clients and generate greater synergies by way of cross-selling and building a comprehensive client platform and integrating capabilities. As for the emerging industry, in view of the strong demand for new energy in the PRC, we have increased our effort in developing the new energy industry and LED manufacturing business. We aim to enhance the Group's competitiveness in research and development, equipment manufacturing, application and promotion and industry services in the new energy industry by means of cooperation or merger and acquisition which integrate with our existing business. Such investments are expected to lead to significant benefits to the long-term development of the Group."
Business Review
The automation business has continued to be a major source of revenue for the Group during the period under review. Gallant Tech Limited ("Gallant Tech"), a wholly-owned subsidiary of the Group, recorded a significant increase in revenue to HK$264.1 million (corresponding period in 2015: HK$155.0 million), accounting for 80.4% (corresponding period in 2015: 61.8%) of the Group's total revenue. The significant increase in revenue was mainly attributable to the securing of various wholesale orders and the increase in sales of well-profited automatic optical inspection ("AOI") equipment during the period under review.
The Group continued to eliminate its low-margin and low value-added electronic manufacturing business, and included securities investment in its main business portfolio. During the period under review, the Group recorded an increase in profit mainly due to the income from listed securities investment of approximately HK$41.4 million (corresponding period in 2015: N/A). The Group has subscribed for 6.30% and 1.19% of the total H shares and total issued shares of China Zheshang Bank, to further expand and enrich its investment portfolio. The transaction was in line with its investment strategy of capturing opportunities arising from financial service enterprises in the PRC - considered a medium-term investment by the Group. The Group will continue to monitor the securities industry and related potential investment opportunities, and will optimally use resources to invest in and consolidate its business.
To develop its financial business effectively, the Group entered into Sale and Purchase Agreement with China Yinsheng Capital Group Limited ("China Yinsheng") during the period under review to acquire 70% interests in China Yinsheng Asset Management Limited, China Yinsheng Securities Limited, China Yinsheng Wealth Management Limited, KB Bullion Limited, KB Credit Limited and KB Investment Limited ("Target Group"). Such acquisitions were completed on 3rd May, 4th July and 1st August 2016. It marks the Group's entry into the Hong Kong financial services market. This business is expected to generate notable revenue for the Group in the second half of the year. In addition, the Group acquired 33.21% equity interests in Zhanjiang Jifutong Financial Services Joint Stock Company Limited* (for identification only)), a financial company established in the PRC. This acquisition will facilitate its objective of providing internet financial services, as well as enhancing the value to of its financial service business.
Business Outlook
The Group acquired several financial services and asset management companies during the period under review. Going forward, it will proactively identify potential business opportunities in the financial services market and make effective use of existing resources to execute its diversification strategies with the aim of broadening its revenue sources and increasing shareholders' returns. Moreover, the Group made an additional investment in the Target Group, consequently increasing its equity interest to 80%. In respect of new energy industry and LED manufacturing business, the Group will facilitate its development through associated acquisitions. Such investments are expected to bring significant benefits to the long-term development of the Group. As for automated production equipment, the Group will further improve the business and better address customers' needs, and explore new business opportunities according to market and customers' demand. The Group is optimistic about the long-term development of the automation business.
Mr. Yao concluded, "The Group will continue to actively focus on investment opportunities in the financial services, assurance and reassurance industry, and new energy and new scientific technology industry. Keeping abreast of market trends, the Group will also develop a business blueprint, which is wider than the Great China market, in Hong Kong, Macau and the PRC, aligned with the building of financial services platform progressively in other key economies across the world so as to attract and utilize global capitals and financial resources to boost the ability of the Group in providing comprehensive financial services to its clients across the PRC."
About China Goldjoy Group Limited (HKEx stock code: 1282)
China Goldjoy Group Limited is principally engaged in the development of a range of high technology products; trading and providing services with respect to automation-related equipment; securities investment; and strategic investment and development in technologies mainly related to biometric security, high-speed wireless data transmission and communications. The Group has completed the acquisitions of six financial institutions including KB Credit, China Yinsheng Asset Management, China Yinsheng Securities, China Yinsheng Wealth Management, KB Investment and KB Bullion in August 2016 and has included financial services as one of its principal businesses. After the acquisition of the integrated financial services and asset management business, the Group is identifying appropriate investment opportunities in new energy and emerging industries. It aims to expand into new industries and new markets and also realize its diversified development strategy through the implementation of a series of strategic transformation measures.
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Best of Luck
BIO-key Names Former Experian Executive Barbara Rivera as Chief Operating Officer to Manage the Anticipated Ramp Demand for Its Fingerprint Biometric Solutions
WALL, NJ--(Marketwired - Aug 23, 2016) - BIO-key International, Inc. (OTCQB: BKYI), an innovative provider of biometric software and hardware solutions for stronger user authentication, announced today the appointment of Barbara Rivera as Chief Operating Officer, a new position at the Company. Ms. Rivera possesses substantial expertise, a broad base of technology industry relationships, and a record of accomplishment at some of the world's largest technology service providers, with particular insight on security and authentication issues. She will be responsible for overseeing business operations with a focus on marketing as well as product development, in support of the company's growth initiatives. Ms. Rivera previously served on BIO-key's Board.
For more than 30 years, Ms. Rivera has demonstrated her management and leadership skills in developing new markets. Most recently, as President & General Manager of the U.S. Public Sector Division of Experian North America, her efforts regularly addressed key issues around Multi-Factor Authentication, Fraud and Healthcare which complement BIO-key's focus. She was instrumental in establishing new accounts with Federal customers, including the Department of Defense, the Justice Department and Department of Education, as well as New York City. Prior to Experian, she held senior management positions at L-3 Communications, SAP America and Oracle Corporation, having launched her technology career at IBM's Data Processing Division.
BIO-key's Chairman & CEO Michael DePasquale commented, "We know first-hand that Barbara brings deep expertise and an ideal skill set to hit the ground running in her COO role. She is a proven strategist and change agent with valuable experience in operations management, as well as advancing business with key enterprise and government accounts. We believe that her expertise will strengthen our collective efforts to expand BIO-key's business, and we welcome her back to the company in a senior management role."
Ms. Rivera commented, "Given the breadth of security failures and related liability and regulatory mandates, there has never been a more opportune time to drive broad-scale adoption of biometric technologies. I know from experience that BIO-key is well positioned to play a leadership role in the security industry, and I'm excited to play a role in steering the company toward profitable growth."
Ms. Rivera earned her B.S. degree in Mathematics and Education from University of Massachusetts, earned an MBA from Howard University, and was named to the Beta Gamma Sigma honor society. She also earned a certificate in Global Leadership Development from Insead University in France.
Retirement of Director Charles Romeo
Separately, BIO-key also announced the retirement of Director Charles Romeo who has served on the Company's Board for over ten years. Mr. Romeo retired from the Board solely for personal reasons. Mr. Romeo joined BIO-key as Vice President of Sales in its Public Safety Division in 2004 and served in that capacity until his appointment as a Director in 2005.
Mr. DePasquale, commented, "On behalf of BIO-key and our Board, we express our sincere gratitude to Charles for his committed service to BIO-key over more than a decade. He was a valued leader and contributor to the Board, its deliberations and decision-making, and we wish him all the best."
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Biometric ID Provider BIO-key Reports Q2 2016 Results
Mon August 15, 2016 4:48 PM|Marketwire | About: BKYI
Q2 2016 Earnings Summary
News
EPS of $-0.02 misses by $-0.02 | Revenue of $0.42M (- 81.5% Y/Y) beats by $0.42M
WALL, NJ -- (Marketwired) -- 08/15/16 -- BIO-key International, Inc. (BKYI), an innovative provider of biometric software and hardware solutions for stronger user authentication, today reported results for its second quarter ended June 30, 2016 (Q2'16). BIO-key will host a conference call tomorrow at 10:00 a.m. ET to review its results (details below).
Michael DePasquale, Chairman & CEO of BIO-key, commented, "While we made good incremental progress positioning BIO-key for significant hardware and software revenue opportunities later this year and into next year, our second quarter sales performance was disappointing. Revenue declined to $415,000 in the second quarter as several larger scale opportunities did not close during the period for a variety of reasons that were unrelated to BIO-key. We believe these opportunities still have strong prospects for closing, and we remain in active discussions with the customers to that end. At the same time, we are building out our sales, marketing and distribution channels to drive sales of our line of fingerprint readers for enterprise and retail users.
"We have also continued to build upon our strategic partnership with Microsoft to support the use of expanded biometric security capabilities now resident in the Windows 10 Anniversary Edition released on August 2nd. Windows 10 has already been downloaded on over 350 million devices, providing a substantial and growing market opportunity for our biometric solutions. We believe BIO-key offers the the strongest, most convenient, and cost effective authentication solutions for Windows 10 enterprise and retail users.
"To tackle this opportunity, we are establishing enterprise and retail distribution channels, packaging and collateral, and sales and marketing support and expect to see broad availability of our products in September. In summary, despite the slow start to the year, BIO-key is working a robust pipeline of enterprise hardware and software opportunities. Over the next several months we believe we can convert these opportunities into meaningful revenue growth for the full year 2016, which we now expect to range between $6.0M and $8.5M."
Recent Highlights:
Partnered with Access Sales Group to expand distribution and marketing for fingerprint biometric readers and software into high-volume national enterprise and retail channels.
BIO-key worked closely with Microsoft's device team to achieve Windows Hello™ certification of its compact USB fingerprint readers, including web application security extensions to use Windows Hello to sign into Microsoft Edge compatible web sites and apps such as iHeartRadio.
Completed development of its enterprise authentication software for Microsoft Active Directory environments. BIO-key's solution ID Director for Windows allows large and small enterprises to leverage BIO-key fingerprint readers for web authentication envirnoments.
Expanded sales and production of BIO-key's new SideTouch fingerprint reader. SideTouch combines the new IDEX (IDEX.NO) advanced off-chip sensor technology with BIO-key's universal Windows Biometric Framework (WBF) fingerprint engine. SideTouch is a Microsoft tested and qualified Windows Hello device.
Launched availability of SideSwipe and EcoID USB fingerprint readers on Amazon.
Expanded sales reach into the Middle East and North Africa via distribution relationship with Moroccan technology provider, Arthur & Co.
UK-based former Vodafone & Microsoft executive Pieter Knook was appointed to BIO-key Board.
Guidance:
Managment remains confident in the company's pipeline of hardware and software revenue opportunities for the balance of 2016. However, based on delays in the conversion of several significant opportunities into revenue so far in 2016, BIO-key believes it prudent to reduce its full year revenue guidance to a range of $6.0M - $8.5M in 2016, versus revenue of approximately $5M in 2015. BIO-key's estimated breakeven revenue run rate is approximately $7.5M.
Q2 2016 Results:
Q2'16 total revenue declined to $415,814 compared to $2,272,804 in Q2'15, principally due to a $2.0 million software license from an existing customer in Q2'15. Service revenues, principally comprised of recurring maintenance and support, decreased 13% to $220,926 compared to $255,269 in Q2'15, reflecting an increase in maintenance revenue offset by no special software requirements for current or new customers. License and other revenue decreased to $194,888 from $2,017,535, principally reflecting the $2.0 million software license booked in Q2'15. Hardware sales increased 5% reflecting an increase in volume.
Q2'16 gross margin declined to 67% from 94% in Q2'15, due to lower revenue and a change in revenue mix. Q2'16 operating expenses rose 17% to $1,605,352 compared to $1,373,860 in Q2'15, principally due to increased R&D expense for new personnel, temporary outside services, and recruiting expenses.
BIO-key's Q2'16 net loss to common shareholders was ($1,576,114), or ($0.02) per share, compared to net income of $753,146, or $0.01 per share, in Q2'15.
Liquidity and Capital Resources
At June 30, 2016, BIO-key had cash, cash equivalents and net receivables of $4.3M compared to $7.7M at December 31, 2015.
Conference Call and Webcast Replay
Date/Time: Tuesday, August 16, 2016 at 10 am ET
Dial-In number: 1-877-418-5460 (U.S.), 412-717-9594 (Intl.)
Webcast Replay: http://services.choruscall.com/links/biokey160815 - Available for 30 days.
Call Replay: 1-877-344-7529 U.S. or 412-317-0088 use code 10091361
August 9th, 2016 – by Alex Perala
BIO-key will announce its second-quarter results next Monday, August 15th, after the close of the market. The Q2 update will be followed by a conference call on August 16th, which will be hosted by company CEO Mike DePasquale, and CFO Cecilia Welch.
BIO-key’s Q2 conference call is scheduled for 10:00 a.m. EDT next Tuesday.
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Cheers.
Here’s a new BIO-key video. Top notch advertisement!
BIO-key Biometric Solutions Go Mainstream, Partners With Access Sales Group to Launch Its National Enterprise and Retail Marketing Campaign
WALL, NJ--(Marketwired - Aug 1, 2016) - BIO-key International, Inc. ( OTCQB : BKYI ), a trusted provider of enterprise and consumer biometric software and hardware authentication solutions, today announced it has signed a strategic sales and distribution agreement with Access Sales Group (ASG) for distribution of its fingerprint biometric readers and software into high-volume retail and enterprise channels. ASG has extensive VAR/VAD distribution along with a retail partner network with expertise in driving new products through the retail sales channel. ASG's network includes mass market retailers, consumer electronics stores, warehouse clubs, retail TV, electronics distributors and the federal government.
"We are very excited about launching BIO-key's secure authentication solutions into national distribution, dealer VAR/VAD, enterprise and retail partners. This technology delivers ease of use for secure sign-in for Windows Hello-enabled sites and applications. Most consumers and enterprise customers are looking for an easy solution to address the inefficiencies of passwords and prevent credential misuse," stated Norman Yohay, President of ASG.
"Since its launch a year ago, Windows 10 is already running on 350 million devices. Leveraging the Windows Hello™ biometric support built into Windows 10, BIO-key's hardware and software is well positioned as the strongest, most convenient and cost effective authentication choice for Windows 10 users," stated Mike DePasquale, BIO-key Chairman and CEO.
"Customers tell us that improved security and a simplified end-user sign-in experience are among the primary reasons they choose Windows 10," said Margaret Arakawa, Microsoft General Manager, U.S. Windows 10 & Devices. "BIO-key is our strategic partner that extends Windows 10 biometrics capability and helps bring Windows Hello to more users."
"The scale of this opportunity requires a mass market distribution strategy and partnership that aligns with our goal of leading the Windows Hello accessory market, as well as our ability to deliver quality product in high volumes. Our three readers -- SideSwipe™, SideTouch™ and EcoID™ -- each provide Windows 10 customers with an easy-to-use, plug-and-play fingerprint sign-in solution that allows them to eliminate their use of passwords," continued DePasquale.
In preparation for the August 2nd release of the Windows 10 Anniversary Update, BIO-key worked closely with Microsoft's device team to ensure that its line of compact USB fingerprint readers are certified for Windows Hello, and ready for web and application security extensions to use Windows Hello to sign in to Microsoft Edge compatible web sites and apps such as iHeartRadio. BIO-key scanners are also backed by our enterprise authentication software, allowing large and small enterprises to leverage BIO-key solutions in Active Directory and web authentication environments.
About BIO-key (www.bio-key.com)
BIO-key is revolutionizing authentication as our easy to use biometric solutions enable convenient and secure access to information and financial transactions. We eliminate passwords, PINs, tokens and cards and make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices SideSwipe and EcoID offer market-leading quality, performance and price.
About Microsoft
Microsoft ( NASDAQ : MSFT ) (@microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.
About ASG (http://accesssalesgroup.com)
Access Sales Group is a national representative company that specializes in sales and marketing of Consumer and Computer Technology. The company has over 35 years' experience selling into the North American Retail marketplace and Dealer VAR channels. ASG has supported the launch of Logitech, Canon, Apple and Belkin products throughout its channel partners and currently supports Fellowes IT channel distribution strategies.
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Here is the link: http://finance.yahoo.com/news/bio-key-biometric-solutions-mainstream-120000980.html
HONG KONG, July 8, 2016 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; HKEx stock code: 1282) is pleased to announce that it has completed the acquisition of China Yinsheng Asset Management, China Yinsheng Securities, China Yinsheng Wealth Management and KB Investment on 4 July 2016, following the same of KB Credit Limited on 3 May 2016. The five financial services and asset management companies have each become a 70%-owned indirect subsidiary of China Goldjoy, and their results will be consolidated into the financial statements of the Group.
Commenting on the acquisition, Mr. Yao Jianhui, Chairman and Chief Executive Officer of China Goldjoy, said, "The Group has been active in recent years pushing to transform our business towards the high value-adding end and aiming for diversification. We have continued to oust the low-margin and low value-added electronic manufacturing business that resources may be injected into business segments with greater growth potential. The successful acquisitions are proof that China Goldjoy has included financial services as one of its principal businesses. The Group will keep our eyes open for potential business opportunities in the financial services market and better use the resources we have to raise returns to shareholders, broaden our income source as well as improve the Group's financial position."
I’d like to think that the reason BIO-key stock traded in the millions of shares and doubled in price a few weeks ago is because of the expectation of this acquisition by China Goldjoy.
Amended Statement of Beneficial Ownership (sc 13d/a)
Date : 06/20/2016 @ 3:14PM
In the latest SEC filing concerning Mr. Wong, it stated this:
The Reporting Person beneficially owns 6,854,037 shares of Common Stock, which includes 3,960,994 shares of Common Stock and shares issuable upon conversion of the Series A-1 Shares. The shares of Common Stock beneficially owned by the Reporting Person constitute 9.99% of the Issuer’s outstanding shares of Common Stock.
BIO-key submitted an SEC form S-8, Employee Benefit Plan. It looks like Mr. M.D. is going to be given 8,000,000 shares of company stock. Is there anybody out there that knows what this form actually means?
It sure sounds like good news. It sounds like it might be related to all that buying Mr. Wong has done lately.
Mr. Wong on Wednesday, June 15, bought 172,000 shares of BIO-key. He now has 3,960,994 shares of BIO-key.
Mr. Wong on Monday, June 13, bought 786,900 shares of BIO-key. He now has 3,788,994 shares of BIO-key.
Mr. Yao is also on BIO-key’s Board of Directors. He is also the Chairman and has the controlling shares of China Goldjoy. From May 25-27, 2016, he purchased 15,852,000 shares of China Goldjoy. I can’t help but wonder if it’s not a coincidence that Mr. Yao and Mr. Wong purchased these large shares of stock within a few days of each other. I’m hoping this next week is going to be another big week for BIO-key. Maybe some good news is coming.
Here is the news release:
HONG KONG, June 3, 2016 - (ACN Newswire) - China Goldjoy Group Limited ("China Goldjoy" or the "Group"; stock code: 1282) is pleased to announce that Mr. Yao Jianhui, the Chairman and controlling shareholder of the Group has purchased an aggregate of 15,852,000 shares during the period from 25-27 May at a total consideration of HK$11,978,328. Upon completion, Mr. Yao's total equity interest in China Goldjoy has increased from 49.99% to 50.06% or 10,787,687,600 shares, including the aforesaid 15,852,000 shares held by Mr. Yao himself and 10,771,835,600 shares held through his wholly-owned company Tinmark Development Limited. This move fully demonstrates that the Group's major shareholder is confident about its long-term sustainable investment value, operations and prospects.
Best of Luck