WALL, N.J., Dec. 3 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in wireless public safety and finger-based biometric identification solutions, announced that a majority of its shareholders at a Special Shareholder Meeting held today approved the sale of the company's Law Enforcement Division to Interact911 Mobile Systems Inc. Of the shares voted, 98.6% were cast in favor and 1.2% were opposed.
BIO-key expects to close the sale transaction with Interact911 Mobile Systems Inc. by the end of December.
Mike DePasquale, BIO-key's CEO said, "We are thrilled with the overwhelming support we have received from our shareholders for our vision, strategy and future. As we enter a new year, we will be a new company - net debt free and focused with what we believe is the world's most accurate and scalable finger biometric technology. As the biometric market finally begins to emerge, we believe our long and sustained investment in technology, our premier biometric customers and our licensing and reseller business model provide us with the opportunity to be a high-margin growth business".
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 1,000 police departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for law enforcement. (http://www.bio-key.com)
BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "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 subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, 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 "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 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 also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
© Copyright 2009 by BIO-key International, Inc.
CONTACT: Bud Yanak of BIO-key International, Inc., +1-732-359-1113
SOURCE BIO-key International, Inc.
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