Bio-key receives nasdaq notification regarding $1 minimum closing bid price requirement

Bio-key international, inc. (nasdaqcm:bkyi) announced it has received a continued listing deficiency notice from the nasdaq stock market llc because its share price has not met the $1.00 minimum closing bid price requirement for 30 consecutive trading days - nasdaq listing rule 5550(a)(2) and 5810(c)(3)(a). this notice has no immediate effect on the company nasdaq listing or the trading of its common stock. bio-key has a 180-day period, until march 23, 2020, in which to regain compliance with the minimum bid price requirement. if at any time during the compliance period, the closing bid price of bio-key common stock is at least $1.00 per share for a minimum of ten consecutive trading days, nasdaq will provide a written confirmation of compliance and the matter would be resolved. should bio-key not regain compliance within the initial compliance period, it may be eligible for an additional 180-day compliance period if it meets the market value of publicly held shares requirement for continued listing, all other initial inclusion requirements for the nasdaq capital market, except for the bid price requirement, and provides written notice of a plan to regain compliance during the second 180-day compliance period.
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