<SEC-DOCUMENT>0001437749-18-002819.txt : 20180220
<SEC-HEADER>0001437749-18-002819.hdr.sgml : 20180220
<ACCEPTANCE-DATETIME>20180220084028
ACCESSION NUMBER:		0001437749-18-002819
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180220
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180220
DATE AS OF CHANGE:		20180220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIO KEY INTERNATIONAL INC
		CENTRAL INDEX KEY:			0001019034
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		IRS NUMBER:				411761861
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13463
		FILM NUMBER:		18623190

	BUSINESS ADDRESS:	
		STREET 1:		3349 HIGHWAY 138
		STREET 2:		BUIDING A, SUITE E
		CITY:			WALL
		STATE:			NJ
		ZIP:			07719
		BUSINESS PHONE:		7323591100

	MAIL ADDRESS:	
		STREET 1:		3349 HIGHWAY 138
		STREET 2:		BUIDING A, SUITE E
		CITY:			WALL
		STATE:			NJ
		ZIP:			07719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAC TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19961115
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>bkyi20180216_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;">Washington<font style="font-family:Times New Roman, Times, serif;font-size:12pt;">, D.C. 20549</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Pursuant to Section<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date of Report (Date of earliest event reported): <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">February 20, 2018</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

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			<td colspan="3" style="vertical-align: top; width: 3334%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>BIO-key International, Inc.</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>
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			<td colspan="3" style="vertical-align: top; width: 3334%;">&nbsp;</td>
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			<td colspan="3" style="vertical-align: top; width: 3334%;">&nbsp;</td>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Delaware</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction of</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">incorporation)</p>
			</td>
			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>1-13463</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
			</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>41-1741861</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S. Employer Identification No.)</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>3349 Highway 138, Building A, Suite E</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Wall<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, NJ&nbsp;07719</font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal executive offices)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>732</b><b>)&nbsp;</b><b>359-1100</b></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Registrant<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s telephone number, including area code)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><i>see</i> General Instruction A.2 below):</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&#9744;&nbsp; <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&#9744;&nbsp; <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&#9744;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&#9744;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).</p>

<p style="font-family: Times\ New\ Roman, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: right;">Emerging growth company <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 2</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.</b></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On February 20, 2018, BIO-key International, Inc. (the &ldquo;Company&rdquo;) issued a press release announcing its unaudited financial summary results for its fourth quarter and fiscal year of 201<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">7. A copy of the press release issued by the Company on February 20, 2018 is attached as Exhibit&nbsp;99. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information, including the exhibit attached hereto, in this Current Report on Form 8-K shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as otherwise expressly stated in such filing.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 9.01.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements, Pro Forma Financial Information and Exhibit.</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">(d)<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">99.1<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="ex_105513.htm" style="-sec-extract:exhibit;">Press Release, dated February 20, 2018, issued by the Company.</a></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">2</div>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<td colspan="2" rowspan="1" style="width: 3%;">BIO-KEY INTERNATIONAL<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, INC.</font></td>
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		<tr>
			<td style="width: 50%;">Date: <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">February 20, 2018</font></td>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 47%;">&nbsp;</td>
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			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 3%;">By:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0); width: 47%;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">/s/ Cecilia C. Welch</font></td>
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			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 47%;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Cecilia C. Welch</font><br>
			<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Chief Financial Officer</font></td>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

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<p style="font-family: Times\ New\ Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>EXHIBIT INDEX</b></p>

<p style="font-family: Times\ New\ Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>

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			<td style="width:138pt;vertical-align:top;"><u><b>Exhibit No.</b></u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>&nbsp;</b></font></td>
			<td style="vertical-align:top;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u><b>Description</b></u></font></td>
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			<td style="width:138pt;vertical-align:top;">&nbsp;</td>
			<td style="vertical-align:top;">&nbsp;</td>
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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">99.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Press Release, dated <font style="font-size:10pt;font-family:Times New Roman, Times, serif;">February 20, 2018, issued by </font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">the Company.</font></p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex_105513.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif"><b>Exhibit 99.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif">&nbsp;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><img src="ex_105513.gif" style="width: 142pt; height: 36pt;"></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>BI</b><font style="font-family:Times New Roman, Times, serif;font-size:12pt;"><b>O-key Previews 2017 </b><b>Results</b><b> Including</b><b> </b><b>Revenue Increasing</b><b> 110% to</b></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><font style="font-family:Times New Roman, Times, serif;font-size:12pt;"><b>$6.3M on Growing Adoption of Secure, Cost Effective Biometric</b></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><font style="font-family:Times New Roman, Times, serif;font-size:12pt;"><b>Solutions </b></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Wall, NJ, </b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>February </b><b>20</b></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>,</b><b> 2018</b> - <u>BIO-key International, Inc</u>. (NASDAQ: <u>BKYI</u>), an innovative provider of enterprise biometric software and hardware systems and consumer products offering strong and convenient security, today announced unaudited preliminary results for its fourth quarter and full year ended December 31, 2017 and a recap of its 2017 operational achievements. BIO-key expects to report audited results for its FY 2017 in late March</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, details on the exact date and time of the earnings call will be announced in coming weeks</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BIO-key provided the following <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">unaudited preview of its Q4 and full year 2017 results.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="margin-left:0.1%;width:97.1%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

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			<td style="vertical-align: middle; border-color: rgb(0, 0, 0); border-style: solid; border-width: thin thin 1px; width: 18.2%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 16.1%; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Q4<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;17</font></p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 12.9%; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Q4<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;16</font></p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 10.7%; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Chg.</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.9%; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.1%; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">2016</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Chg.</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 18.2%; border-left: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Revenue</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 16.1%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$3.0M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 12.9%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$1.7M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 10.7%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">+76%</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.9%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$6.3M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.1%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$3.0M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">+110%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 18.2%; border-right: thin solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Gross Profit</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 16.1%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$ 2.2M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 12.9%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$1.4M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 10.7%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">+57%</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.9%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$3.0M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.1%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$2.2M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">+36%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 18.2%; border-left: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Net Income</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">(Loss)</font></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 16.1%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$0.5M</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 12.9%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">($0.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">5M)</font></p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 10.7%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">+<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">200%</font></p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.9%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">($4.2M)</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 13.1%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">($4.2M)</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%; border-right: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&ndash;</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BIO-key&#39;s CEO Michael DePasquale commented, &quot;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">In the past year, we worked to lay the foundation for long-term revenue growth. We focused on increasing our base of customers, growing our distribution channels</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, and launching a new line of products to deliver BIO-key&#39;s secure biometric technology to both enterprise and consumer customers. Our efforts resulted in solid results including net income in our fourth quarter and 110% revenue growth in 2017</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">. We are pleased with BIO-key&#39;s performance as it reflects the ramping demand and growing adoption of our secure biometric solutions. I am confident that we are on the right track as we pursue our goal of becoming a profitable company.&quot; </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Operational Achie<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">vements: </font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Software:</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BIO-key&#39;s<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> identity management software solutions continue to contribute strongly to total revenues due to the growing demand from customers seeking to deploy multifactor authentication to protect shared employee workstations against possible internal data breaches. BIO-key&#39;s solutions solve this problem by providing an added layer of security and accountability for system administrators to identify the person accessing their database or network at any given time. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">As more companies <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">recognize the security risks posed by passwords to their data networks, the company anticipates growing receptivity to the security and ease of use of its identity authentication solutions to gain even more momentum in 2018.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Software, license and maintenance revenue <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">contributed nearly 70% of full year 2017 revenues.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Notable software license contracts included:</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
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			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">$4M order including maintenance services for <font style="font-size:10pt;font-family:Times New Roman, Times, serif;">BIO-key&rsquo;s fingerprint biometric security software with a Fortune 500 company. This customer chose to expand the scope of agreement following an initial software-as-a-service license agreement. </font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
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			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Cybercore, a leading provider of managed services for government and commercial customers<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">, deployed ID Director for Windows to meet its multi-factor authentication requirements as a government contractor</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">. </font></p>
			</td>
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</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Province of British Columbia government selected BIO-key to provide fingerprint authentication solutions to enable secure self-service access for identity information management <font style="font-size:10pt;font-family:Times New Roman, Times, serif;">and authentication services.</font></p>
			</td>
		</tr>

</table>

<p style="background-color:#FFFFFF;font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;background-color:#FFFFFF;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;background-color:#FFFFFF;margin-bottom:0pt;font-size:10pt;">A g<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">lobal medical device &amp; data management solutions provider selected BIO-key to secure internal access to desktops and manufacturing systems for over 25,000 employees</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">.</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Hardware</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">: </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Readers:</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Demand for <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">BIO-key&#39;s hardware line of fingerprint readers that are natively integrated with Windows 7, Windows 8.1 and Windows 10 operating systems continued to expand in 2017. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Hardware readers contributed to <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">approximately 24% of full year 2017 revenues. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Hardware offers<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> BIO-key&#39;s customers the potential for more complete solutions at an attractive price, which enhances the size and scope of the company&#39;s contracts. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Notable <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">hardware reader contracts included: </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Japanese security systems integrator DDS, selected SideSwip<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">e fingerprint scanners to enable biometric authentication of its custom applications</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">. </font></p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">A leading international Government defense contractor chose <font style="font-size:10pt;font-family:Times New Roman, Times, serif;">BIO-key&rsquo;s solutions to secure internal online access with Windows compatible SideSwipe fingerprint readers. </font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">A leading insurance provider with over $250 billion in assets selected BIO-key&#39;s EcoID<font style="font-size:10pt;font-family:Times New Roman, Times, serif;"> fingerprint readers to complement its existing password based sign-in credentials</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">G<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">lobal firearms manufacturer and DoD contractor selected BIO-key for workstation and kiosk access</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Biometric and Bluetooth Enabled </b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>Locks:</b></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Since launching TouchLock<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><sup> TM</sup> in 2017, BIO-key&#39;s Biometric and Bluetooth enabled range of locks</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the company announced initial sales orders in China and Japan, which led to additional discussions with some of the largest bicycle manufacturers in both countries.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">In total, the company<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> realized 5.5% of its full year 2017 revenues from its biometric lock sales</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Distribution:</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">On <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">the product distribution front, BIO-key advanced several new relationships with partners with substantial outreach and marketing experience. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BIO-key partnered with SmarTone<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, a leading wireless telephone service provider in Hong Kong</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, to offer TouchLock <sup>TM</sup> in its 30+ retail outlets. Additionally, a leading Asian airline will be distributing TouchLock<sup> </sup><sup>TM </sup>in its customer loyalty reward program, which includes over 8 million members.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">S<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">ince announcing US sales of its Biometric and Bluetooth enabled locks, the company also launched its own e-commerce platform www.shopbio-key.com to support U.S. consumer sales and complement sales on Amazon and future retail sites. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>2018 Outlook:</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&ldquo;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">We are optimistic about our prospects for 2018 as the pace of engagement in biometrics gains momentum and we expect to provide a detailed update during our conference call</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&quot;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Our focus is to execute on investments made for future revenue opportunities including:</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">E<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">xpanding the use case of our biometric solutions by pursuing additional customers with mobile product applications, such as the mobile payments and credentialing markets</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">. </font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">I<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">ncreasing our Asian footprint by setting up support sales teams to serve customers in certain Asia Pacific countries including India, Malaysia, Sri Lanka, Singapore and China. </font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Leveraging our IP P<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">ortfolio including enhancing the performance of our fingerprint solutions while incorporating additional factors of authentication that will enhance the value of our product offerings.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Expanding our OEM relationships with the Identity and Access Managemen<font style="font-size:10pt;font-family:Times New Roman, Times, serif;">t providers to include our biometric option for their customers.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&quot;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">With these initiatives in place, I&#39;m confident that we are well positioned for continued financial and operational success in 2018,&quot; stated Mike DePasquale, BIO-key&rsquo;s CEO. &quot;We look forward to providing further details on our strategy</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, financial performance</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, and outlook during our Q4 and full year 2017 earnings call later in March.&quot;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>About BIO-key International, Inc. (</b><u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">www.bio-key.com</font></u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BIO-key is revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. We offer alternatives to passwords, PINs, tokens, and cards to make it easy for enterprises and consum<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">ers to secure their devices as well as information in the cloud. Our premium finger scanning devices, including <u>SideSwipe</u> <sup>TM</sup> <u>SideTouch <sup>TM</sup> EcoID</u> <sup>TM</sup> </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">and <u>SidePass <sup>TM</sup></u></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">offer market-leading quality, performance and price. BIO-key is now bringing the power and ease of use of biometric technology to its recently launched <u>TouchLock <sup>TM</sup></u> </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">line of biometric and Bluetooth enabled padlocks &ndash; thereby providing even more ways to BIO-key your world!</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>BIO-key Safe Harbor Statement</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:left;">All statements contained in this press release other than statements of historical facts are &quot;forward-looking statements&quot; as defined in the Private Securities Litigation Reform Act of 1995 (the &quot;Act&quot;). The words &quot;estimate,&quot; &quot;project,&quot; &quot;intends,&quot; &quot;expects,<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&quot; &quot;anticipates,&quot; &quot;believes&quot; and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management&#39;s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the &quot;safe-harbor&quot; 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 ability to develop new products and evolve existing ones, customer and market acceptance of biometric solutions generally and our specific offerings, our ability to expand sales within existing customer relationships, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see &quot;Risk Factors&quot; in the Company&#39;s Annual Report on Form 10-K for the year ended December 31, 2016 and its 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. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Times\ New\ Roman, Times, serif; width: 100%;">

		<tr>
			<td style="width: 169px;"><b>Facebook <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; Corporate:</font></b></td>
			<td style="width: 873px;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u>BIO-key International</u></font></td>
		</tr>
		<tr>
			<td style="width: 169px;"><b>Twitter <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; Corporate:</font></b></td>
			<td style="width: 873px;"><u><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">@BIOkeyIntl</font></u></td>
		</tr>
		<tr>
			<td style="width: 169px;"><b>Twitter <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; Investors:</font></b></td>
			<td style="width: 873px;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u>@BIO_keyIR</u></font></td>
		</tr>
		<tr>
			<td style="width: 169px;"><b>StockTwits:</b></td>
			<td style="width: 873px;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u>@BIO_keyIR</u></font></td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:left;"><b>Investor &amp; Media Contacts</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">William Jones, Tanya Kamatu</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Catalyst Global</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">212-924-9800</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u>bkyi@catalyst-ir.com</u></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
