DelistingMay 12, 2026, 04:03 PM
BIO-key Nasdaq Trading Suspended; Moves to OTC Markets
AI Summary
BIO-key International announced its common stock trading will be suspended on Nasdaq effective May 12, 2026, and will begin quoting on the OTC Market under the same symbol from May 13, 2026. The suspension is due to not meeting Nasdaq's $1 minimum bid price requirement for 10 consecutive days by May 4th, despite a recent 1-for-10 reverse split, and the unfiled 2025 Annual Report on Form 10-K. The company intends to request a hearing to appeal the suspension. Despite this, BIO-key's CEO stated the business is strong, with expectations for 1H'26 revenues to rise 50% to $5M and achieve profitability.
Key Highlights
- Nasdaq trading of BIO-key common stock suspended effective May 12, 2026.
- Shares approved for quoting on OTC Market under BKYI from May 13, 2026.
- Suspension due to not meeting Nasdaq's $1 bid price for 10 consecutive days.
- Also due to unfiled Annual Report on Form 10-K for year ended Dec 31, 2025.
- Company plans to request a hearing to appeal Nasdaq suspension.
- Expects 1H'26 revenues to rise 50% to $5M vs. $3.3M in 1H'25.
- Anticipates 1H'26 profitability vs. $1.9M net loss in 1H'25.
- Implemented a 1-for-10 reverse stock split effective April 30th.