wickw50
1 week ago
Switzerland’s Canton of Ticino Implements BIO-key’s Multi-Factor Authentication Solution in its Information Systems Center
TICINO, Switzerland and HOLMDEL, N.J., April 09, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc.® (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, today announced that Switzerland’s Canton of Ticino (Ticino) has partnered with Asecus AG to implement BIO-key’s AuthControl Sentry login solution. In a significant enhancement to its digital security, Ticino’s Information Systems Center (TISC) has integrated AuthControl’s advanced protection for Office365 login across their network. Ticino is the southernmost of Switzerland’s 26 cantons (member states) and the sole canton where Italian is the only official language.
The AuthControl Sentry implementation is a critical component of TISC’s strategy to safeguard its digital assets and communications, especially considering the widespread use of Office365 for day-to-day operations. The collaboration with Asecus underscores the Ticino’s commitment to utilizing top-tier security solutions to protect against potential cyber threats. The partnership not only enhances the security of TISC’s Office365 logins but also strengthens the overall integrity of its digital communications.
Alex Rocha, Managing Director of BIO-key Europe, commented, “Canton Ticino’s proactive approach to working with Asecus and BIO-key to secure their Office365 logins is a best practices model for maintaining a robust and resilient digital environment. In today’s interconnected world, it is vital for government entities to ensure the highest level of security for their communication tools. We at BIO-key Europe applaud their commitment to cybersecurity and are pleased to see our solutions contributing to such important initiatives.”
Asecus AG (https://www.asecus.ch/)
Cybersecurity Integrator and managed service provider Asecus has been successfully protecting customers against cyberattacks since 1997. Long-standing customers include both small and medium-sized entities and international corporations across various industries. Asecus provides first-class security consulting, security operations/managed services and support, as well as a broad portfolio of leading products. The Asecus team also brings extensive security expertise and engineering know-how to on-premises, cloud and hybrid environments.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
2 weeks ago
Identity and Access Management Software Provider BIO-key Preliminary 2023 Results: Operating Loss Trimmed Approx. $3.5M on Approx. 29% Revenue Growth to $9.1M; Investor Call Tomorrow at 10am ET
HOLMDEL, N.J., April 01, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) solutions featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication, announced preliminary results for its fourth quarter (Q4’23) and year ended December 31, 2023 (2023). The independent audit of BIO-key’s 2023 financial statements has not yet been completed and, therefore, the figures included herein are subject to change. BIO-key will host an investor call tomorrow at 10:00am ET (details below).
Preliminary Results Highlights:
2023 revenue rose $2M (29%) to $9.1M
2023 SG&A trimmed by $2.1M (22%)
Net cash used in operating activities was reduced by $2.5M in 2023
Q4’23 & 2023 cost of hardware reflects $2.8M reserve against slow moving inventory for Africa
$1.5M cash payment received in Q1’24 for 2-year extension/expansion of biometric technology license
CEO Commentary
BIO-key CEO, Mike DePasquale commented, “BIO-key made solid progress on our path to profitability in 2023, driven by 29% revenue growth and cost cutting initiatives that trimmed SG&A expense by $2.1M, largely in the second half of the year. We look to build on this record in 2024, focusing on top-line growth opportunities balanced with further efforts to reduce costs. We believe our growing global distribution and customer base puts us in a strong position to reach profitability over the next several quarters.
“Looking forward, we expect increased deployment of enhanced IAM solutions as enterprises transition to the cloud and respond to a growing array of security incidents that highlight potential cybersecurity vulnerabilities. This trend is further supported by regulatory requirements and increasingly stringent Cyber Insurance underwriting standards that mandate enhanced multi-factor authentication and/or passwordless security solutions that are at the core of our offerings.
“As passwordless authentication gains traction, our solutions are well positioned to provide organizations an integrated approach to managing and securing all of their identities with technologies they already use, while also supporting their future needs with a cost-effective platform. We also expect that passkey authentication, which has been embraced by Google, Apple, Amazon and Microsoft, will continue to expand its penetration in 2024. To capitalize on this opportunity, BIO-key will soon launch, Passkey:YOU, a unique passwordless authentication solution that does not require the use of phones or hardware tokens, with planned enhancements expected later in the year.
Outlook
“The current climate of broad enterprise adoption of MFA to replace passwords presents opportunities for us to leverage our unique differentiators and exploit gaps in existing IAM approaches. Gaps include challenges of authenticating users that ‘rove’ among workstations and preventing unauthorized account sharing and delegation.
“Today BIO-key has more than 600 customers globally. Our business is predominately SaaS or subscription based, and most of our new business is sold through channel partners. We remain focused on an asset light go-to-market plan that leverages more than 150 Channel Alliance Partners, along with our targeted internal sale team. Together, we believe these channels position BIO-key for meaningful top- and bottom-line improvement in 2024, building on our base of annually recurring services and license fee revenues (ARRs) with a blended gross margin of approximately 65%.
“We will also continue to pursue cost reduction initiatives in 2024, to help accelerate our path to positive cash flow and profitability. Our Q4’23 bottom line included a $2.8M non-cash reserve on slow moving hardware inventory purchased for our Africa initiatives. We continue to explore opportunities to convert this inventory into cash. Importantly, during the first quarter of 2024 we enhanced our financial position with the execution of a $1.5M, 2-year license extension for a long-time customer and receipt the full license payment. We also continue to pursue large enterprise opportunities through our direct sales channel. For these and other reasons, we are particularly excited about BIO-key’s outlook for 2024.”
Preliminary Financial Results
Please note that the audit of our 2023 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are, therefore, subject to change.
2023 revenues increased 29% to $9.1M from $7.0M in 2022, driven by increases in license fees (of $1.1M), hardware sales (of $0.5M); and services revenue (of $0.4M). Service revenue benefitted from custom services for new customer installations, Swivel Secure service fees, and conversions from on-premises deployments of PortalGuard to our PortalGuard IDaaS cloud platform. Hardware revenue benefitted from fourth quarter sales to an international defense agency in 2023. Likewise, Q4’23 revenue grew 26% over Q4’22, also driven by the aforementioned hardware sales to an international defense agency.
The Company took a $2.8M reserve on inventory due to slow moving inventory purchased for large projects in Nigeria in Q4’23. This reserve was included in cost of hardware, which caused a decline in gross profit to $3.3M in 2023, from $4.6M in 2022 and a decline in gross margin to 36.5% in 2023 from 65.2% in 2022. BIO-key continues to explore opportunities to sell the product, including other markets, to convert inventories to cash.
In terms of operating expenses, Selling, general and administrative costs were $7.3M in 2023, representing a 22% decrease from 2022. The decrease included lower sales and marketing expenses, including personnel and related benefits and outside services expenses. Research, development and engineering expenses also declined by $0.9M or 26% to $2.4M, due to reductions in personnel, related benefits and outside services expenses.
On a preliminary basis, reflecting higher revenue and lower operating costs, BIO-key significantly trimmed its 2023 net loss 48% to $(6.2M), or $(11.45) per share, from $(12.2M), or $(27.26) per share, in 2022, even after including the $2.8 million reserve on inventory. Likewise, in Q4’23 BIO-key reduced its net loss more than 40% to $(4.1M), or $(5.54) per share, from $(6.7M), or $(14.58) per share in 2023.
Preliminary Balance Sheet
At December 31, 2023, BIO-key had current assets of $5.3M, including $0.5M of cash and cash equivalents, $3.2M of accounts receivable and amounts due from factor, and $1.2M of inventory.
Conference Call Details
Date / Time: Tuesday, April 2nd at 10 a.m. ET
Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 Int’l
Live Webcast / Replay: Webcast & Replay Link – Available for 3 months.
Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 6114035
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 weeks ago
HOLMDEL, N.J., March 27, 2024 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management and Identity-Bound Biometric solutions, will host its Q4 2023 investor call Tuesday, April 2nd at 10 a.m. ET. Results will be released after the market close on Monday. Mike DePasquale, Chairman & CEO and Cecilia Welch, CFO will lead the call and Q&A session.
Conference Call Details
Date / Time: Tuesday, April 2nd at 10 a.m. ET
Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 Int’l
Live Webcast / Replay: Webcast & Replay Link – Available for 3 months.
Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 6114035
BIO-key at a Glance
Recent Price $2.00 TTM Revenue $8.6M
Shares Out.* 1.9M TTM Revenue Growth +39%
Market Cap $3.9M Price/TTM Revenue 0.45X
* Common stock and common stock equivalents outstanding.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over 38 million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
wickw50
1 month ago
DUBAI, United Arab Emirates, March 11, 2024 (GLOBE NEWSWIRE) -- Humanity International Investments announces significant milestones in its innovative Humanity Protocol initiative. Over 40,000 NFTs have been claimed to date, showcasing the project making remarkable strides in digital identity and blockchain technology integration.
Humanity International Investments, under the Chairmanship of His Highness, Sheikh Marwan bin Mohamed bin Rashid Al Maktoum, launched a blockchain-based economic empowerment initiative, the Humanity Protocol, and strategically partnered with BIO-key (Nasdaq: BKYI), a leader in Identity and Access Management solutions including biometric palm scan authentication.
This collaboration will enable individuals, particularly in Africa, to authenticate their identities through a palm scan to securely claim their digital footprint through a Non-Fungible Token (NFT). The innovative approach not only enhances security and privacy in digital transactions but empowers individuals by providing them with a verified and immutable digital identity, marking a significant step forward in the integration of biometric technology with blockchain for identity verification. To date, the partnership has already garnered approximately 15,000 palm scans with plans to verify each of the current registered users.
"This milestone demonstrates our commitment to revolutionizing digital identity in Africa and beyond, made possible by our partnership with BIO-key, a leading biometric technology provider," said Aly Ramji, General Partner of Humanity International Investments.
The initiative has expanded to include a groundbreaking Community Staking program, engineered to function as a comprehensive ecosystem where Non-Fungible Tokens (NFTs) represent the identity of participants. Each NFT assigns a unique digital identity to each user but also facilitates a direct and transparent method for distributing economic returns.
With over 40,000 unique registered users across 94 countries, with a significant footprint in Nigeria, Kenya, and Vietnam, the Humanity Protocol demonstrates a sustainable model where community stakers back each participant. This backing is not just financial; it's a vote of confidence in the individuals' ability to contribute to and thrive within the digital economy.
"This innovative program is designed to provide financial benefits to participants, fostering a robust and financially inclusive community to those at the bottom of the pyramid across Africa and Asia", said Ramji.
The Humanity Protocol is pioneering a digital identity revolution, leveraging the potential of Africa's young and rapidly urbanizing population to ensure broader access to the decentralized digital economy. The community staking program is Humanity International Investment's commitment to inclusivity and security in the digital space.
For further inquiries with Humanity International Investment, please contact:
Communications@humanityinvestments.co
About Humanity International Investments (www.humanityinvestments.co)
Humanity International Investments is a Dubai-based social impact fund dedicated to fostering financial inclusion across Africa. With an expansive network spanning the continent, the organization is committed to bridging the identity gap for the unbanked and the ultra-poor. By collaborating with innovative technology partners, the Humanity Protocol seeks to provide verifiable identities, enabling countless Africans to access financial services, credit, and opportunities for wealth creation. Their vision is not just about creating identities but about empowering individuals to change their futures and have a voice in the global digital community.
For further inquiries with Bio-Key International, please contact:
732.359.1100
info@bio-key.com
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-eight million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
Media Contact Full Name: Jumal Lewis
Media Contact Company: Humanity International Investments
Media Contact Phone Number: 1 (917) 833-1830
Media Contact Website: https://humanityinvestments.co/
Media Contact Email: communications@humanityinvestments.co
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6cee45fb-9e83-405f-ba12-87270dc12bee
wickw50
2 months ago
Bridgetown, Barbados Credit Union Selects BIO-key’s PortalGuard to Enhance Access to Shared Workstations Including Biometrics
BRIDGETOWN, Barbados and HOLMDEL, N.J., Feb. 06, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of passwordless, phoneless, and token-less Identity and Access Management (IAM) Multifactor Authentication (MFA) solutions, announced that the City of Bridgetown Co-operative Credit Union Ltd. (COB) has selected BIO-key’s PortalGuard platform with Identity-Bound Biometrics (IBB), to transform its secure login methodologies for staff access to critical systems and data. COB has multiple locations supporting more than 60,000 members in Barbados.
By implementing BIO-key’s PortalGuard platform with Identity-Bound Biometric authentication, COB ensures a more robust and reliable defense against unauthorized access to the credit union’s systems. Project requirements included meeting or exceeding cybersecurity insurance mandates and providing improved access workflows to support staff productivity. COB also desired a complete solution that could support multiple authentication factors including one-time passwords, biometrics or tokens.
These security and productivity requirements were especially important for shared workstation environments utilized by credit union tellers. PortalGuard’s centralized biometrics excel at providing instant support across a multitude of devices without requiring a hardware authentication device such as a phone or token. PortalGuard sets itself apart as a unified IAM platform, providing cutting-edge solutions to a range of use cases and business initiatives with flexibility to support a wide variety of authentication options and factors within an organization.
"BIO-key’s PortalGuard and IBB security solutions provide robust security and best-in-class support for shared workstations where other vendor solutions are limited and costly," said Mark Cochran, President of BIO-key’s PortalGuard division. "Credit Unions and other financial institutions are embracing BIO-key’s advanced biometric security measures because we can accommodate their unique authentication use cases with secure and cost-effective approaches that protect their systems and data. BIO-key is helping accelerate our customers’ ability to execute strategic security initiatives and meet their digital transformation and compliance goals."
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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:
LinkedIn – Corporate:
Twitter – Corporate:
Twitter – Investors:
StockTwits: https://www.facebook.com/BIOkeyInternational/
https://www.linkedin.com/company/bio-key-international
@BIOkeyIntl
@BIO_keyIR
BIO_keyIR
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 months ago
Tragsa Group Enhances Cybersecurity with BIO-key’s Multi-Factor Authentication Solution
BIO-key International, Inc.
January 22, 2024 05:15 ET
MADRID, Spain and HOLMDEL, N.J., Jan. 22, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, today announced that Spain’s Grupo Tragsa (the Tragsa Group) has partnered with Factum España to implement BIO-key’s AuthControl Sentry solution. AuthControl Sentry, renowned for its comprehensive authentication capabilities, now plays a critical role in protecting the login processes of Tragsa’s internal and external users.
The implementation of AuthControl Sentry, complemented by a Virtual Private Network (VPN), enhances the overall security posture of Tragsa, ensuring encrypted and secure access across its vast network. The collaboration underscores Tragsa’s commitment to utilizing top-tier technology to maintain the highest standards of data security and operational integrity.
Alex Rocha, Managing Director of BIO-key Europe, remarked, “Tragsa’s decision to incorporate AuthControl Sentry into their security framework marks a significant stride in protecting their expansive network. The integration highlights Tragsa’s proactive approach to cybersecurity, ensuring both the safety and privacy of its data against ever evolving cyber threats. We are proud to support Tragsa in setting new standards for data protection and security. Our partnership with Factum España, a leader in cybersecurity implementation, not only showcases the robustness and adaptability of our solutions, but also demonstrates our collective commitment to advancing cybersecurity solutions for the challenges of today’s digital age.”
About Factum España (https://www.factum.es/)
Factum España is a specialist in cybersecurity solutions for enterprises ranging from large corporations to small and medium-sized companies. Its services range from advanced cybersecurity audits and consulting to the development of specialized products, solutions and managed services. Factum has a team of more than 140 specialists, allowing it to operate in a wide variety of sectors in Spain and internationally. Factum operates a Managed Detection & Response (MDR) center equipped with the latest innovations and currently provides cybersecurity solutions to more than 200 clients worldwide.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 months ago
Haver & Boecker Implements Single Sign-On (SSO) with Multifactor Authentication via P&W Netzwerk and BIO-key Europe to Secure and Streamline User Access
HOLMDEL, N.J. and OELDE, Germany, Jan. 17, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) solutions featuring Identity-Bound Biometric (IBB) authentication solutions, today announced that Haver & Boecker, a global leader in processing and packaging technology for bulk materials, has implemented Multifactor Authentication (MFA) and Single Sign-On (SSO) technology for its digital platforms via P&W Netzwerk GmbH & Co. KG, utilizing BIO-key Europe‘s AuthControl Sentry solution. The SSO integration is part of a strategic initiative to enhance efficiency and user experience for the Company’s employees.
Single Sign-on will allow access to multiple applications and services that, together with multifactor authentication, eliminate the complexity and lost time inherent in managing numerous passwords. This modernization reflects the customer’s commitment to identifying and adopting innovative technologies that improve workplace productivity.
Alex Rocha, Managing Director of BIO-key Europe, added, “Haver & Boecker’s decision to integrate an MFA and SSO solution that leverages the capabilities of AuthControl Sentry and the expertise of P&W Network, shows their forward-thinking approach to digital transformation. Such collaborations are crucial in an era where security and efficiency are paramount. BIO-key is proud to team with P&W Network to support innovative solutions that deliver operational and security improvements for forward-thinking industry leaders like Haver & Boecker.”
About P&W Network (www.puw-netzwerk.de)
For more than 20 years, P&W Network has been a reliable partner for complex IT infrastructures, network analysis and security. Their goal is to always offer the best solution to keep the end customer’s IT infrastructure secure and stable. Whether you need support with troubleshooting or simply want expert advice in the area of IT infrastructure – P&W Network is always a reliable and trusted IT partner.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 months ago
NJ-based Authentication Solutions Provider BIO-key to Review Growth Strategy and Progress at The Microcap Conf. in Atlantic City – Presentation Wed., Jan 31 at 10:50am ET
ATLANTIC CITY, N.J. and HOLMDEL, N.J., Jan. 16, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of passwordless, phoneless, and token-less Identity and Access Management solutions leveraging proprietary biometric technology, will present and meet with investors at DealFlow Event’s Microcap Conference, Wed., January 31, 2024 at Caesars Atlantic City Hotel & Casino in New Jersey.
CEO Mike DePasquale will present on January 31st at 10:50am ET, on Track 5, and will be available for one-on-one meetings throughout the conference..
Registration Information:
Click here: https://themicrocapconference.com/tickets/ to register and attend the Microcap Conference. All investors are welcome to register and attend.
Mr. DePasquale commented, “Over the past two years we have built out an expanded base of solutions and a global footprint that is enabled by our channel alliance partners. Our business model has started to deliver the results we believe make BIO-key an exciting company and investment. The Microcap Conference provides a convenient, cost-effective opportunity for us to begin to reintroduce our company to investors.
Operating Highlights
“Our reported revenues grew 39% to $8.6M in the 12 months ended Sept 30, 2023, enabling a significant increase in gross profit. Importantly, we have recast our business into a largely recurring software as a service (SaaS) and services revenue model, which means that we start each year from an expanded base of contract activity, providing both stability and transparency for our growth and bottom-line performance.
“We have also made good progress in trimming overhead, contributing to reduced losses in recent periods, and we expect to benefit from these efforts as we move forward. From a valuation standpoint, we have approximately 1.937M common stock equivalents outstanding for a market cap of approximately $4M based on Friday’s closing price of $2.03. With an annual revenue run rate of nearly $9M and expected continued growth in revenues and improvement in our bottom-line performance, we are excited to present to prospective investors.”
Registration Information:
Click here: https://themicrocapconference.com/tickets/ to register and attend the Microcap Conference. All investors are welcome to register and attend.
About The Microcap Conference and DealFlow Events
Organized by DealFlow Events, the 3-day event at Caesars Atlantic City Hotel & Casino will feature company presentations from publicly-traded microcap businesses and qualified private companies across healthcare, technology, financial services, energy, and other high-growth sectors. Keynote presentations and panel discussions led by industry experts will provide insights into trading strategies, regulations, risk assessment and mitigation, tax issues, and other topics critical to the microcap community. Unlike many other microcap events, no invitation is required. The conference facilitates extensive networking through 1-on-1 investor meetings, interactive sessions as well as entertainment, including a poker tournament and an exclusive concert with Soul Asylum.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 months ago
Fargo, ND and Junction City, KS Choose BIO-key PortalGuard For Secure Access via Biometric Authentication
Expect lower costs and superior user experience with biometrics
HOLMDEL, N.J., Jan. 11, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of passwordless, phoneless, and token-less Identity and Access Management (IAM) Multifactor Authentication (MFA) solutions, announced that Fargo, North Dakota and Junction City, Kansas are the latest municipalities to select BIO-key PortalGuard and its phoneless and tokenless Identity Bound Biometric (IBB) authentication options to add phish-resistance, enhance information security and streamline workflows while saving taxpayers money. A growing number of U.S. and global government entities have adopted BIO-key’s biometric authentication solutions to benefit from its unique combination of the highest-level of security, a superior end-user experience, greater flexibility, workflow efficiency, and competitive total cost of ownership. These new deployments reflect the cities’ commitment to safeguard the integrity and confidentiality of municipal data with state-of-the-art security solutions, while also fostering efficiency with a streamlined user-friendly experience.
BIO-key’s NIST- and independent lab-tested biometric security technology measures and compares unique biometric characteristics of users to verify and authenticate them, eliminating the need to carry phones or per-user tokens in order to access systems and get things done. Implementing biometric authentication in Fargo and Junction City ensures a more robust and reliable defense against unauthorized access to the cities’ systems. By relying on unique biological traits for authentication instead of passwords and other knowledge factors, municipalities can thwart common phishing threats and enhance the overall resilience and availability of their information systems.
Beyond a superior user experience and better resiliency to phishing and social engineering attacks, customers save money by choosing BIO-key PortalGuard’s biometric factors. BIO-key enables users to be their own authentication credential for sign in and account recovery, instead of requiring their employers to provision security tokens to each and every user or to require (and potentially, to reimburse) for personal phone use. The result is decreased reliance on costly physical identification factors such as hardware tokens, access cards, or users’ phones. Municipalities can re-allocate these long-term savings to optimize their budgets for the benefit of their community.
"The growing adoption of biometric authentication by U.S. municipalities reflects a continuing shift towards a more efficient, cost-effective, and user-friendly approach to securely authenticating to municipal digital services," said Mark Cochran, President of BIO-key’s PortalGuard division. "By embracing BIO-key’s advanced biometric security measures, forward-looking cities raise the ceiling on what their IAM systems can accommodate for users and use cases. We are glad to help Fargo and Junction City to enhance their security posture against cyber threats and contribute to the broader goal of safeguarding public trust in the digital age.”
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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:
LinkedIn – Corporate:
Twitter – Corporate:
Twitter – Investors:
StockTwits: https://www.facebook.com/BIOkeyInternational/
https://www.linkedin.com/company/bio-key-international
@BIOkeyIntl
@BIO_keyIR
BIO_keyIR
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 months ago
BIO-key PortalGuard Wins 2024 Business Intelligence Group’s BIG Innovation Award for its Authentication Software
HOLMDEL, N.J., Jan. 10, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less FIDO and Passkey authentication solutions through its unique Identity Bound Biometrics (IBB) capabilities, announced that its Access Management platform, PortalGuard® IDaaS was selected as the winner of a 2024 BIG Innovation Award presented by the Business Intelligence Group in the Software category.
BIO-key differentiates itself in the authentication market by more effectively addressing large scale enterprise and consumer passwordless and multi-factor (MFA) sign-in scenarios involving roving users and shared devices without imposing costly and cumbersome requirements that all users use and carry a phone, card or token in order to authenticate and access critical systems. For more than two decades, BIO-key has delivered more secure phoneless, tokenless and passwordless user experiences for some of the largest and most security-conscious entities in the world by offering secure, NIST-tested and fully privacy-law-compliant biometric authentication factors that identify the person, not what they are carrying. These unique what-you-are biometric factors allow every user to be their own credential, instead of mandating that they carry and use a personal phone, card or token to authenticate their identity along their digital journeys.
With cyber-insurers and regulatory bodies such as the SEC, FTC and FFIEC placing greater emphasis on deploying phish-resistant MFA and passwordless authentication, migrating all users off of vulnerable passwords and shared credentials is top of mind for organizations of all sizes and across all industries. BIO-key’s award-winning unified IAM platform, PortalGuard® IDaaS, along with IBB, allows enterprises to offer flexible options for authentication, including all of the traditional phone and token-based FIDO approaches, but adding the higher ceiling of a biometric-secured tokenless, phoneless option for everyday sign in and for self-service account recovery using biometric-secured identities in IBB.
“We are pleased to have been selected by Business Intelligence Group as a leader in the software category recognizing BIO-key for our advanced enterprise IAM solutions”, stated Mike DePasquale Chairman and CEO BIO-key.
“Innovation is driving our society,” said Maria Jimenez, chief nominations officer of the Business Intelligence Group. “We are thrilled to be honoring BIO-key International as they lead by example and improve the lives of many.”
Organizations from across the globe submitted their recent innovations for consideration in the BIG Innovation Awards. Nominations were then judged by a select group of business leaders and executives who volunteered their time and expertise to score submissions. After this rigorous selection process, BIO-key was named the winner of the BIG Innovation Award in the prestigious Software category.
About Business Intelligence Group
The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, these programs are judged by business executives having experience and knowledge. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.
Contact
Maria Jimenez
Chief Nominations Officer
Business Intelligence Group
jmaria@bintelligence.com
+1 (909) 529-2737
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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:
LinkedIn – Corporate:
Twitter – Corporate:
Twitter – Investors:
StockTwits:
https://www.facebook.com/BIOkeyInternational/
https://www.linkedin.com/company/bio-key-international
@BIOkeyIntl
@BIO_keyIR
BIO_keyIR
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
3 months ago
Denmark’s Ministry of Foreign Affairs Bolsters Network Security via IT2Trust and BIO-key®
COPENHAGEN, Denmark and HOLMDEL, N.J., Jan. 08, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, today announced the Ministry of Foreign Affairs of Denmark is enhancing its digital security infrastructure for 4,500 users worldwide. The Ministry chose IT2Trust to implement a state-of-the-art Virtual Private Network secured by BIO-key Europe’s AuthControl Sentry authentication solution.
This deployment is part of the Ministry’s strategy to strengthen its digital capabilities in the face of evolving global cybersecurity challenges. The VPN solution provided by IT2Trust, a leading European digital security solutions provider, is pivotal in ensuring secure and efficient communication channels for the Ministry’s staff, both within Denmark and across embassies and consulates worldwide.
Alex Rocha, Managing Director of BIO-key Europe, remarked, “The Denmark’s Ministry of Foreign Affairs deployment of IT2Trust’s VPN and our AuthControl Sentry solution is a proactive effort to protect their systems and data from growing threats in an increasingly complex digital world. BIO-key Europe is proud to partner with IT2Trust to enhance the security and reliability of public sector digital infrastructure.
“The Ministry’s decision to work with IT2Trust reflects its commitment to adopting cutting-edge technology to protect sensitive information and maintain seamless global operations. The VPN implementation is a crucial aspect of the Ministry’s broader cybersecurity strategy seeking to ensure the highest standards of data protection and privacy.”
About IT2Trust (www.it2trust.com)
IT2Trust is the leading distributor of business critical information technology solutions in Nordic countries. IT2Trust earns this title by ensuring the right product matching for businesses and by offering competent advisory and guidance on all products from start to finish. It offers a wide range of vendor services enabling high quality-solutions. IT2Trust’s assistance covers everything from market- and competitor analyses and product positioning to marketing, technical support, and training at every level. With IT2Trust, you get a solution covering all needs, delivered by a serious and competent adviser and partner.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
4 months ago
Portugal’s Judiciary Police Enhances Security Infrastructure via Securnet and BIO-key
HOLMDEL, N.J. and LISBON, Portugal, Jan. 02, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, today announced the Judiciary Police of Portugal (Polícia Judiciária) has significantly enhanced its operational security by implementing a robust Virtual Private Network (VPN) secured by BIO-key Swivel Secure authentication technology AuthControl Sentry. The deployment was sourced through BIO-key’s strategic collaboration with Securnet.
The VPN, along with an advanced Access Control Device system provided by Securnet, significantly augments the security and efficiency of communications and data access for the Judiciary Police. The technologies support key infrastructure supporting the relentless fight against organized crime, terrorism, drug trafficking, corruption, as well as economic and financial crimes.
“The Judiciary Police’s commitment to advanced technological solutions is commendable,” said Alex Rocha, Managing Director of BIO-key Europe. “Our involvement in this project, through our partnership with Securnet, demonstrates the adaptability and strength of our security solutions in high-stakes environments. This collaboration is a prime example of how cutting-edge technology can empower law enforcement agencies to perform their critical duties more securely and effectively.”
“The implementation of these security solutions, facilitated by our collaboration with Securnet was pivotal in maintaining the integrity of communications. These technologies play a vital role in safeguarding information systems and operations, which are essential in the fight against sophisticated criminal networks.”
About Securnet (www.securnet.pt)
Founded in 2002 with the mission of putting organizations “Always online, Always Secure”, Securnet has evolved into a complete provider of IT infrastructure solutions and services. The excellence of Securnet solutions and services is widely recognized by customers and manufacturers as generators of value, innovation and competitiveness. Betting on transparent, trustworthy and long-term relationships, supported by an experienced, efficient, specialized and certified technical team, Securnet is a preferred supplier and technological partner of an increasing number of customers across a diverse range of sectors and industries.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
About the Judiciary Police (www.policiajudiciaria.pt)
The Polícia Judiciária (PJ; English: Judiciary Police) is the national criminal investigation police agency of Portugal, focused in fighting serious crimes, including homicides, kidnapping, organized crime, terrorism, illegal drug trade, corruption, cybercrime and financial crime. It is integrated into the Ministry of Justice, but operates under the supervision of the Public Ministry.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
4 months ago
Carrefour Strengthens Enterprise Cybersecurity in Spain with BIO-key’s AuthControl Sentry® Cloud Solution in Partnership with Evolutio
HOLMDEL, N.J. and MADRID, Spain, Dec. 27, 2023 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, announced today that Carrefour, a leading global retailer, is integrating BIO-key’s AuthControl Sentry® cloud solution in Spain in collaboration with Evolutio, a trusted partner of BIO-key’s Swivel Secure Europe subsidiary. The strategic collaboration is part of Carrefour’s ongoing commitment to operational excellence and data security.
AuthControl Sentry is now a key component in safeguarding the authentication process for Carrefour’s 6,500 Spanish employees. The solution protects access to critical services and reinforces the company’s dedication to the highest standards of data security and privacy.
Alex Rocha, Managing Director of BIO-key Europe, commented, “We are honored to have leading global retailer Carrefour implement our AuthControl Cloud Sentry solution in Spain. This collaboration, facilitated by our partner Evolutio, showcases the security, versatility and reliability of our products in meeting the complex cybersecurity needs of large-scale organizations. BIO-key Europe is committed to delivering top-tier security solutions that empower businesses like Carrefour to operate with confidence and resilience in an increasingly digital world. Our AuthControl solution not only enhances operational efficiency but also ensures the utmost security for our customers, their employees and critical data.”
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
About Evolutio (www.evolutio.com/)
Evolutio is the trusted technological partner that any company needs. Evolutio consultants are experts in the integration of cloud services for multinational and domestic companies in the Spanish market. Its objective is to boost the agility, flexibility and capacity for innovation of clients, helping them to achieve the maximum possible value from their business and accompanying them in their digitization process. Headquartered in Madrid, Evolutio has a track record of over 30 years of experience in the IT sector.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
4 months ago
BIO-key Repays $2.2M Senior Secured Note
HOLMDEL, N.J., Dec. 21, 2023 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, announced today that it has repaid its $2.2M senior secured note in full, eliminating all long-term debt and has completed a $550,000 private placement of units at a premium to market. Each unit in the placement included one share of common stock or a prefunded warrant in lieu thereof and one common warrant to purchase one and one half shares of common stock at a presplit price of $0.175 per unit ($3.15 on a post-split basis). Each common warrant is exercisable at a presplit price of $0.175 per share ($3.15 on a post-split basis).
BIO-key CEO Michael DePasquale commented, “We are working to put BIO-key on a strong financial footing for continued growth and improving bottom-line performance in 2024 and beyond. These efforts include the completion of $4.3M in equity funding over the past two months. Proceeds from these offerings have strengthened our cash and liquidity position while also enabling us to retire a $2.2M note issued and held by AJB Capital Investments.
“Given our progress to date this year, we are optimistic about our outlook for 2024. Over the last four completed quarters , we grew revenues 39% to $8.6M. and in Q3’23 we reduced our net loss to $638,000 from a net loss of $2.4M in Q3’22. Given our operating improvements and new capital, we believe we are well positioned to build on this progress in 2024. Our optimism is supported by increasing quote activity and deal sizing; our expanding base of recurring revenues; and our expanding global Channel Alliance Partner program.”
Following the 1-for-18 reverse stock split effective with the commencement of trading on December 21, 2023, BIO-key will have approximately 1 million shares of common stock issued and outstanding and approximately 1.9 million common stock equivalents inclusive of prefunded warrants.
The securities issued in the private placement were not registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
4 months ago
Following Stockholder Approval, BIO-key Announces 1-for-18 Reverse Stock Split to Regain Compliance with Nasdaq Minimum Bid Price Requirement
WALL, N.J., Dec. 19, 2023 (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 (IBB), today announced that it has approved a 1-for-18 reverse stock split that will become effective with the commencement of trading on December 21, 2023.
BIO-key stockholders approved a proposal last week to allow the Board to proceed with a reverse split to assist the Company in its effort to regain compliance with the minimum bid price requirement.
BIO-key had approximately 16.9 million shares of common stock issued and outstanding as of December 19, 2023. After giving effect to the 1-for-18 reverse stock split, BIO-key will have approximately 941,000 shares of common stock issued and outstanding.
BIO-key CEO Michael DePasquale commented, “We view our Nasdaq listing as an important stockholder and corporate asset. In order to regain compliance with Nasdaq’s $1 minimum closing bid price requirement, a reverse stock split was required. The Board’s decision to set the ratio at 1-for-18 was intended to position our common stock for ongoing minimum bid price compliance as we execute on our growth and profitability goals in 2024 and beyond.”
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy debt repayment obligations and working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
wickw50
4 months ago
Genesis HealthCare System Builds on its Investment in BIO-key Biometric Authentication Security as it Migrates to Epic Hyperdrive
ZANESVILLE, Ohio and HOLMDEL, N.J., Dec. 14, 2023 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, announced that its longstanding customer Genesis HealthCare System, the largest healthcare provider in its six-county region of Ohio, will add BIO-key’s PortalGuard IAM platform to support its existing BIO-key biometric authentication investment as it migrates to Epic Systems’ Hyperdrive end-user application interface. Genesis HealthCare has a network of more than 300 physicians and 4,000 employees across 27 locations.
PortalGuard’s standards-based integration with Hyperdrive allows Genesis HealthCare System to continue enjoying the security and streamlined biometric authentication user experience that BIO-key provides without re-enrolling employees or adopting more cumbersome and expensive multi-factor authentication solutions.
Named by Computerworld as one of the 100 Best Places to Work in IT every year since 2017, Genesis Healthcare utilizes BIO-key biometric software and hardware to secure and streamline its users’ login experience for Epic. By deploying PortalGuard IAM, it is able to maintain a consistent user experience and simplify the Hyperdrive migration. PortalGuard fully supports Hyperdrive’s modern authentication approach through its SAML Identity Provider (IdP) capabilities. PortalGuard provides seventeen authentication factor options, including WEB-key fingerprint authentication, the same core BIO-key biometric authentication platform regularly used by thousands of Genesis HealthCare employees. Additionally, users can now use PortalGuard for biometric authentication in other hospital applications through its support for standard IdP integration options like SAML, OAUTH, and OpenID Connect.
"Epic is a mission-critical application for many of BIO-key’s hospital customers, and implementing PortalGuard SAML SSO allows Genesis to maintain streamlined workflows and ensure secure access to patient information with IBB," said Mark Cochran, President of BIO-key – PortalGuard. "Healthcare organizations face the challenge of providing convenient and reliable access to necessary systems while ensuring data privacy and regulatory compliance. BIO-key’s Identity-Bound Biometrics allows customers to cost-effectively leverage a phoneless, tokenless, and cardless authentication experience that users prefer because it strikes the proper balance between security and convenience."
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy debt repayment obligations and working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI @Bacchus-9800
wickw50
4 months ago
BIO-key Partners with Ping Identity to Bring its Cutting-Edge Biometric Authentication to Ping Customers
DENVER and HOMDEL, N.J., Dec. 11, 2023 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of Identity and Access Management (IAM) solutions including Identity-Bound Biometrics, and Ping Identity, a leading provider of seamless and secure digital experiences, announced today that BIO-key's unique biometric authentication technology is now included on the Ping Identity Integration Directory. The integration enables Ping clients to utilize BIO-key’s powerful and seamless biometric authentication solution in combination with the PingOne Cloud Platform. The combined solution streamlines authentication processes and ensures a secure, frictionless user experiences across diverse digital environments and use cases.
BIO-key joins a growing list of leading technology partners developing integrations through the Ping Identity Global Technology Partner Program. Partner solutions built on the PingOne Cloud Platform are helping organizations compete in a new digital era where the user experience is increasingly essential, and security cannot be sacrificed.
“Ping Identity is committed to expanding our technology partner ecosystem to enhance digital customer experiences across the entire user journey,” said Loren Russon, the SVP of product management at Ping Identity. "Our partnership with BIO-key makes integration seamless for customers to quickly benefit from the robust PingOne Cloud Platform.”
"We are excited to join forces with Ping Identity, a recognized leader in seamless and secure digital experiences,” said Galen Rodgers, VP of Sales & Channel at BIO-key. “This partnership allows BIO-key to integrate our cutting-edge biometric authentication technology with the PingOne Cloud Platform, offering organizations a powerful solution to enhance security and their user experience. Together, we are dedicated to shaping the future of digital identity and contributing to a safer and more frictionless digital world."
Traditional authentication methods are insufficient in many scenarios, and enterprises must explore new solutions that can offer flexibility to accommodate the needs of different users and various use cases while maintaining the highest level of security. BIO-key integrates its state-of-the-art biometric authentication technology seamlessly with the PingOne Cloud Platform. With phish-resistant MFA and passwordless authentication top of mind for enterprises of all sizes and across all industries, BIO-key’s Identity Bound Biometrics enable users to take advantage of a true biometric, passwordless authentication solution without requiring phones or tokens to assist in the process. This collaboration empowers organizations to leverage BIO-key's expertise in biometrics within the Ping Identity ecosystem, ensuring a secure and better digital experience for users across various applications and platforms.
For more information on BIO-key’s work with Ping Identity, visit the Integration Directory.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right phish-resistant authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options when users cannot use phones or tokens to sign in. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
About Ping Identity
At Ping Identity, we believe in making digital experiences both secure and seamless for all users, without compromise. That's digital freedom. We let enterprises combine our best-in-class identity solutions with third-party services they already use to remove passwords, prevent fraud, support Zero Trust, or anything in between. This can be accomplished through a simple drag-and-drop canvas. That's why more than half of the Fortune 100 choose Ping Identity to protect digital interactions for their users while making experiences frictionless. On August 23, 2023, Ping Identity and ForgeRock joined together to deliver more choice, deeper expertise, and a more complete identity solution for customers and partners.
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
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
Ping Identity Media Relations
Megan Johnson
press@pingidentity.com
757.635.2807
wickw50
5 months ago
BIO-key Showcasing Unique Identity, Authentication Innovations to Executives at Invite-Only Boston Cybersecurity Summit
Highlighting phoneless, tokenless, passwordless and lower cost phish resistant security options
BOSTON and HOLMDEL, N.J., Nov. 13, 2023 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring phoneless, tokenless and passwordless Identity-Bound Biometric (IBB) multi-factor authentication (MFA) solutions, announced the company will sponsor the seventh annual Boston Cyber Security Summit. The one-day event will be held at the Westin Copley Place on November 14th.
The Boston Cyber Security Summit is an exclusive, invite-only event hosting approximately 300 C-Level & Senior Executives responsible for managing the information security frameworks within their organizations. BIO-key and other leading cybersecurity solution providers will present cutting-edge products and solutions to this all-executive audience in an intimate, non-trade show like setting.
BIO-key will showcase its differentiating capability on center stage to high-level decision makers, including: FIDO2-compliant passwordless authentication options that include phoneless and tokenless MFA, in addition to offering all of the traditional multi-factor authentication approaches commonly used in mainstream MFA solutions. Unlike any other product or solution in the authentication category, BIO-key’s IBB allows users to take advantage of a true biometric passwordless authentication solution that does not require the use of phones or tokens to assist in the authentication process. With phish-resistant MFA and passwordless authentication top of mind for organizations of all sizes and across all industries, conference attendees will learn how the company’s award-winning unified IAM platform, PortalGuard®, along with Identity-Bound Biometrics, helps fill a critical business use case that traditional MFA overlooks – users who cannot use a phone or token to authenticate.
“Multi-factor authentication is no longer just nice-to-have. For most organizations it’s becoming mandatory, whether due to tightening SEC, FTC or cyber insurer scrutiny. Adopting company-wide MFA is bringing new challenges to enterprises for whom phones or tokens are not a viable option for large subsets of their users. Traditional approaches to MFA can require painful and costly solutions and pose an unnecessary barrier to adoption for many companies,” said Mark Cochran, President of PortalGuard. “Cybersecurity solutions need to provide elite security, but they also need to offer the same level of flexibility and usability. That’s a big reason why we’re so excited about the unique capabilities of PortalGuard with the power of Identity-Bound Biometrics. This exclusive event will be a prime opportunity to differentiate our solutions and have meaningful discussions with key stakeholders.”
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty five million users. BIO-key allows customers to choose the right phish-resistant authentication factors for diverse use cases, including phoneless, tokenless and passwordless biometric options when users cannot use phones or tokens to sign in. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
wickw50
5 months ago
BIO-key Awarded $800K Follow-On Order for Biometric User Authentication from Leading Government Defense Ministry
HOLMDEL, N.J., Nov. 06, 2023 (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 (IBB) for phoneless, tokenless, passwordless and phish-resistant authentication experiences, announced that one of the world’s most respected government defense ministries has selected and awarded BIO-key a new $800k order, leveraging a previously announced three-year purchasing agreement. The defense ministry is accelerating its deployment of BIO-key biometric authentication to secure, yet simplify, access to its most critical information systems. This order, along with portions of earlier $340k and $150K orders received in Q3’23, is expected to be recognized during Q4’23.
The defense ministry continues to expand its BIO-key user authentication deployment into new programs and user scenarios, delivering convenient phoneless, tokenless, and passwordless authentication access to digital services for over 30,000 users. BIO-key expects that expansion of the programs using its solution to additional defense ministry personnel will result in other awards in future periods.
BIO-key’s secure biometric authentication platform has been integrated with the ministry’s virtual desktop infrastructure (VDI) capabilities to allow secure VDI-optimized biometric authentication without requiring phones or tokens. BIO-key has worked closely with the ministry’s cybersecurity team to integrate state-of-the-art, cloud-enabled biometric authentication with its authentication federation platform to deliver advanced and secure biometric access to systems and applications across organizational boundaries. Because BIO-key credentials are the individuals themselves, access cannot be shared, delegated, phished, or forgotten.
Jim Sullivan, BIO-key’s SVP Strategy and Chief Legal Officer, said, “When the stakes are at their highest, security must be uncompromising yet user-friendly. BIO-key’s relationship with this innovative customer continues to expand, as does interest from the defense vertical in general. Last week, we were pleased to announce the addition of another new government defense ministry customer. We are pleased to be trusted to provide the highest level of security possible by biometrically ensuring only the right user accesses the most sensitive information. BIO-key has a long history of providing very secure and robust solutions in government, defense, finance, retail, and other highly regulated industries, and we are finding that our superior user experience and cost-saving tokenless solution translates well to enterprise authentication."
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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, 2022 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, we undertake 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
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
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