BIO-key approved for Nasdaq listing
BIO-key International, Inc. announced that its common stock has been approved for listing on the Nasdaq Capital Market, effective with the start of trading on Tuesday, July 25, 2017.
The company said its shares will continue to trade under the symbol BKYI.
“Our Nasdaq listing is a significant milestone for BIO-key and our shareholders, that underscores our ramping sales momentum so far this year,” Michael DePasquale, chairman and CEO of BIO-key, said. “We continue to see growing interest in the efficiency, cost benefits and enhanced security of our biometric solutions. This trend is supported by the growing prevalence of fingerprint biometric solutions on mobile devices as well as the recognition that conventional password and PIN authentication is fundamentally broken.
“Innovation is also playing a pivotal role in expanding BIO-key’s business potential. We continue to develop new technology to solve pressing, large-scale cybersecurity and authentication challenges as well as consumer-facing products that leverage our core biometric expertise. ”
DePasquale said the listing on Nasdaq will provide a range of benefits to the company’s shareholders, as well as support its sales and marketing efforts by increasing the visibility of its brand and authentication solutions before prospective customers, partners and the media.
BIO-key was advised by Maxim Group LLC and Donohoe Advisory Associates LLC in its Nasdaq listing process.
BIO-key recently received orders from ten healthcare organizations for its fingerprint biometric solutions during the second quarter of 2017, representing approximately $250,000 in revenue.