BIO-key International (BKYI) 10-Q 17 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 14, 2021
Document Information [Line Items]
Entity Registrant Name	BIO KEY INTERNATIONAL INC
Entity Central Index Key	0001019034
Trading Symbol	bkyi
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		7,820,455
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 13,528,521	$ 16,993,096
Accounts receivable, net	1,432,248	548,049
Due from factor	49,808	60,453
Financing Receivable, after Allowance for Credit Loss, Current, Total		295,000
Inventory	600,447	330,947
Prepaid expenses and other	1,606,161	201,507
Investment – debt security	512,821	512,821
Total current assets	17,730,006	18,941,873
Resalable software license rights	56,361	58,882
Equipment and leasehold improvements, net	69,985	81,793
Capitalized contract costs, net	170,219	165,315
Deposits and other assets	8,712	8,712
Note receivable	295,000
Operating lease right-of-use assets	430,206	487,325
Intangible assets, net	1,460,130	1,514,146
Goodwill	1,262,526	1,262,526
Total non-current assets	3,753,139	3,578,699
TOTAL ASSETS	21,483,145	22,520,572
LIABILITIES
Accounts payable	309,323	244,158
Accrued liabilities	535,952	508,487
Note payable – PistolStar acquisition, net of debt discount		232,000
Deferred revenue - current	524,836	657,349
Operating lease liabilities, current portion	230,072	234,309
Total current liabilities	1,600,183	1,876,303
Deferred revenue – long term	49,393	44,987
Operating lease liabilities, net of current portion	211,442	264,163
Total non-current liabilities	260,835	309,150
TOTAL LIABILITIES	1,861,018	2,185,453
Commitments and Contingencies
STOCKHOLDERS’ EQUITY
Common stock — authorized, 170,000,000 shares; issued and outstanding; 7,817,913 and 7,814,572 of $.0001 par value at March 31, 2021 and December 31, 2020, respectively	782	782
Additional paid-in capital	119,982,465	119,844,026
Accumulated deficit	(100,361,120)	(99,509,689)
TOTAL STOCKHOLDERS’ EQUITY	19,622,127	20,335,119
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 21,483,145	$ 22,520,572

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Common stock, shares authorized (in shares)	170,000,000	170,000,000
Common stock, shares issued (in shares)	7,817,913	7,814,572
Common stock, shares outstanding (in shares)	7,817,913	7,814,572
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues	$ 1,888,638	$ 522,485
Costs and other expenses	766,635	124,263
Gross Profit	1,122,003	398,222
Operating Expenses
Selling, general and administrative	1,516,398	1,381,399
Research, development and engineering	441,651	336,889
Total Operating Expenses	1,958,049	1,718,288
Operating loss	(836,046)	(1,320,066)
Other income (expenses)
Interest income	2,615	1
Interest expense	(18,000)	(1,551,141)
Loss on extinguishment of debt		(499,076)
Total Other Income (Expenses)	(15,385)	(2,050,216)
Net loss	(851,431)	(3,370,282)
Deemed dividends related to down-round features		(112,686)
Net loss available to common stockholders	$ (851,431)	$ (3,482,968)
Basic & Diluted Loss per Common Share (in dollars per share)	$ (0.11)	$ (1.84)
Basic & Diluted (in shares)	7,773,688	1,895,690
Service [Member]
Revenues	$ 380,022	$ 207,523
Costs and other expenses	175,944	70,445
License [Member]
Revenues	478,958	235,345
Costs and other expenses	38,969	10,456
Hardware [Member]
Revenues	1,029,658	79,617
Costs and other expenses	$ 551,722	$ 43,362

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	1,812,483
Balance at Dec. 31, 2019	$ 182	$ 87,437,661	$ (89,723,016)	$ (2,285,173)
Share-based compensation		512,719		512,719
Net loss			(3,370,282)	(3,370,282)
Issuance of common stock pursuant to securities purchase agreements (in shares)	87,500
Issuance of common stock pursuant to securities purchase agreements	$ 8	1,032,492		1,032,500
Commitment fee adjustment		(900,000)		(900,000)
Beneficial conversion feature		641,215		641,215
Issuance of common stock pursuant to warrant conversion (in shares)	121,500
Issuance of common stock pursuant to warrant conversion	$ 12	1,457,988		1,458,000
Conversion of convertible note payable (in shares)	288,461
Conversion of convertible note payable	$ 29	1,499,971		1,500,000
Deemed dividends related to down-round features		112,686	(112,686)
Balance (in shares) at Mar. 31, 2020	2,309,944
Balance at Mar. 31, 2020	$ 231	91,794,732	(93,205,984)	(1,411,021)
Balance (in shares) at Dec. 31, 2020	7,814,572
Balance at Dec. 31, 2020	$ 782	119,844,026	(99,509,689)	20,335,119
Issuance of common stock for directors’ fees (in shares)	2,091
Issuance of common stock for directors’ fees		7,510		7,510
Legal and commitment fees		(2,709)		(2,709)
Issuance of restricted common stock to employees (in shares)	1,250
Issuance of restricted common stock to employees
Share-based compensation		133,638		133,638
Net loss			(851,431)	(851,431)
Balance (in shares) at Mar. 31, 2021	7,817,913
Balance at Mar. 31, 2021	$ 782	$ 119,982,465	$ (100,361,120)	$ 19,622,127

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$ (851,431)	$ (3,370,282)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation	25,115	19,912
Amortization of intangible assets	54,016	7,164
Amortization of debt discount	18,000	218,061
Amortization of capitalized contract costs	22,989	36,679
Amortization of debt issuance costs		878,398
Loss on extinguishment of debt		499,076
Amortization of beneficial conversion feature		413,687
Interest expense capitalized to note payable		40,995
Operating leases right-of-use assets	57,119	46,009
Stock based directors’ fees	7,510
Share based compensation for employees and consultants	133,638	512,719
Change in assets and liabilities:
Accounts receivable	(884,199)	5,707
Due from factor	10,645	(19,729)
Capitalized contract costs	(27,893)	(13,659)
Inventory	(269,500)	31,408
Resalable software license rights	2,521	5,028
Prepaid expenses and other	(1,404,654)	(58,175)
Accounts payable	65,165	(227,572)
Accrued liabilities	27,465	(57,777)
Deferred revenue	(128,107)	54,133
Operating lease liabilities	(56,958)	(44,587)
Net cash used in operating activities	(3,198,559)	(1,022,805)
CASH FLOW FROM INVESTING ACTIVITIES:
Capital expenditures	(13,307)
Net cash used in investing activities	(13,307)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issuance of convertible notes		283,000
Costs to issue notes and common stock	(2,709)	(13,000)
Proceeds from warrant exercise		1,458,000
Repayments of note payable - PistolStar	(250,000)
Net repayments of loans payable to related parties		(122,271)
Net cash (used in) provided by financing activities	(252,709)	1,605,729	$ 24,000,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(3,464,575)	582,924
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	16,993,096	79,013	79,013
CASH AND CASH EQUIVALENTS, END OF PERIOD	13,528,521	661,937	$ 16,993,096
Cash paid for:
Interest	18,000
Noncash Investing and financing activities
Deemed dividends related to down-round features		112,686
Common Stock issued for loan commitment fees		132,500
Conversion of convertible note payable to common stock		1,500,000
Beneficial conversion feature		$ 641,215

Note 1 - Nature of Business and

Note 1 - Nature of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	1. NATURE OF BUSINESS AND BASIS OF PRESENTATION Nature of Business The Company, founded in 1993, Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of BIO-key International, Inc. and its wholly-owned subsidiaries (collectively, the “Company” or “BIO-key”) and are stated in conformity with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The operating results for interim periods are not may In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all necessary adjustments, consisting only of those of a recurring nature, and disclosures to present fairly the Company's financial position and the results of its operations and cash flows for the periods presented. The balance sheet at December 31, 2020 not 10 December 31, 2020, March 29, 2021. Effective November 20, 2020, 1 8. Foreign Currency The Company accounts for foreign currency transactions pursuant to ASC 830, Foreign Currency Matters 830” 830, Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses 326 2016 13, not 2016 13 2016 13 no not may not 2016 13. 2016 13 December 15, 2022 2016 13 Effective January 1, 2021, 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 2019 12 2019 12 2019 12 2019 12 not Management does not not

Note 2 - Going Concern

Note 2 - Going Concern	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	2. GOING CONCERN The Company has historically financed its operations through access to the capital markets by issuing secured and convertible debt securities, convertible preferred stock, common stock, and through factoring receivables. The Company currently requires approximately $735,000 first 2021, $1,889,000 19 may 2020, $24,000,000 March 31, 2021 $13,500,000 twelve fifteen

Note 3 - Revenue From Contracts

Note 3 - Revenue From Contracts With Customers	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. REVENUE FROM CONTRACTS WITH CUSTOMERS In accordance with ASC 606, Revenue from Contracts with Customers 606” five ● Identify the contract with a customer ● Identify the performance obligations in the contract ● Determine the transaction price ● Allocate the transaction price to performance obligations in the contract ● Recognize revenue when or as the Company satisfies a performance obligation Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three North America Africa EMESA* Asia March 31, 2021 License fees $ 368,800 $ - $ 42,508 $ 67,650 $ 478,958 Hardware 48,795 684,839 265,995 30,029 1,029,658 Services 359,614 - 17,888 2,520 380,022 Total Revenues $ 777,209 $ 684,839 $ 326,391 $ 100,199 $ 1,888,638 North America Africa EMESA* Asia March 31, 2020 License fees $ 165,235 $ - $ - $ 70,110 $ 235,345 Hardware 56,354 - - 23,263 79,617 Services 196,316 - 4,142 7,065 207,523 Total Revenues $ 417,905 $ - $ 4,142 $ 100,438 $ 522,485 *EMESA – Europe, Middle East, South America Software licenses Software license revenue consist of fees for perpetual and subscription licenses for one Hardware Hardware revenue consists of fees for associated equipment sold with or without a software license arrangement, such as servers, locks and fingerprint readers. Customers are not third may Support and Maintenance Support and maintenance revenue consists of fees for unspecified upgrades, telephone assistance and bug fixes. The Company satisfies its support and maintenance performance obligation by providing “stand-ready” assistance as required over the contract period. The Company records deferred revenue (contract liability) at time of prepayment until the term of the contract ends. Revenue is recognized over time on a ratable basis over the contract term. Support and maintenance contracts are up to one five 18% Professional Services Professional services revenues consist primarily of fees for deployment and optimization services, as well as training. The majority of the Company's consulting contracts are billed on a time and materials basis, and revenue is recognized based on the amount billable to the customer in accordance with practical expedient ASC 606 10 55 18. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The standalone selling prices are determined based on overall pricing objectives, taking into consideration market conditions and other factors, including the value of the contracts, the cloud applications sold, customer demographics, geographic locations, and the number and types of users within the contracts. The Company considered several factors in determining that control transfers to the customer upon shipment of hardware and availability of download of software. These factors include that legal title transfers to the customer, the Company has a present right to payment, and the customer has assumed the risks and rewards of ownership. Accounts receivable from customers are typically due within 30 not Costs to Obtain and Fulfill a Contract Costs to obtain and fulfill a contract are predominantly sales commissions earned by the sales force and are considered incremental and recoverable costs of obtaining a contract with a customer. These costs are deferred and then amortized over a period of benefit determined to be four Transaction Price Allocated to the Remaining Performance Obligations ASC 606 not March 31, 2021. ● The performance obligation is part of a contract that has an original expected duration of one 606 10 50 14. At March 31, 2021, one five All of the Company's performance obligations, and associated revenue, are generally transferred to customers at a point in time, with the exception of support and maintenance, and professional services, which are generally transferred to the customer over time. Deferred Revenue Deferred revenue includes customer advances and amounts that have been paid by customer for which the contractual maintenance terms have not 12 60 12 March 31, 2021 December 31, 2020, $574,000 $702,000, three March 31, 2021 2020 $305,000 $72,000, not

Note 4 - PistolStar, Inc. Acqui

Note 4 - PistolStar, Inc. Acquisition	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	4. PISTOLSTAR, INC. ACQUISITION On June 30, 2020, From April 10, 2020 The total purchase price of $2.5 $2.0 $500,000 The promissory note, which was issued to the previous owner of PistolStar, carried interest at 4% four 12 December 31, 2020 $232,000, January 21, 2021, $250,000 The fair value of the assets acquired and liabilities assumed was less than the purchase price, resulting in the recognition of goodwill. The goodwill reflected the value of the synergies the Company expected to realize and the assembled workforce.

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5. ACCOUNTS RECEIVABLE Accounts receivable are carried at original amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful receivables by regularly evaluating individual customer receivables and considering a customer's financial condition, credit history, and current economic conditions. Accounts receivable are written off when deemed uncollectible. Accounts receivable at March 31, 2021 December 31, 2020 March 31, December 31, 2021 2020 Accounts receivable $ 1,446,033 $ 561,834 Allowance for doubtful accounts (13,785 ) (13,785 ) Accounts receivable, net of allowances for doubtful accounts $ 1,432,248 $ 548,049

Note 6 - Share Based Compensati

Note 6 - Share Based Compensation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	6. SHARE BASED COMPENSATION The following table presents share-based compensation expenses for continuing operations included in the Company's unaudited condensed consolidated statements of operations: Three Months Ended March 31, 2021 2020 Selling, general and administrative $ 128,944 $ 441,308 Research, development and engineering 12,204 71,411 $ 141,148 $ 512,719

Note 7 - Factoring

Note 7 - Factoring	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Factoring [Text Block]	7. FACTORING Due from factor consisted of the following as of: March 31, December 31, 2021 2020 Original invoice value $ 101,430 $ 241,715 Factored amount (51,622 ) (181,262 ) Balance due from factor $ 49,808 $ 60,453 The Company entered into an accounts receivable factoring arrangement with a financial institution (the “Factor”) which has been extended to October 31, 2021. $150,000 35% 75% 2.75% 15% Three Months ended March 31, 2021 2020 Factoring fees $ 13,347 $ 32,000

Note 8 - Note Receivable

Note 8 - Note Receivable	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Notes Receivable [Text Block]	8. NOTE RECEIVABLE During the third 2020, $295,000 not nine 9 December 31, 2020. 5%. No three March 31, 2021. March 31, 2021.

Note 9 - Prepaid Expenses and O

Note 9 - Prepaid Expenses and Other	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Prepaid Expenses and Other [Text Block]	9. PREPAID EXPENSES AND OTHER Included in prepayments at March 31, 2021 $1.4 March 31, December 31, 2021 2020 Deposit for inventory $ 1,423,445 $ 66,995 Other prepaid expenses 109,371 64,178 Insurance 46,935 45,468 Software licenses 26,410 24,866 Total prepayments $ 1,606,161 $ 201,507

Note 10 - Inventory

Note 10 - Inventory	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	10. INVENTORY Inventory is stated at the lower of cost, determined on a first first March 31, December 31, 2021 2020 Finished goods $ 494,322 $ 221,130 Fabricated assemblies 106,125 109,817 Total inventory $ 600,447 $ 330,947

Note 11 - Resalable Software Li

Note 11 - Resalable Software License Rights	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Research, Development, and Computer Software Disclosure [Text Block]	11. RESALABLE SOFTWARE LICENSE RIGHTS On December 31, 2015, third $180,000 10 two $2,521 $5,028 three March 31, 2021 March 31, 2020, $123,639 $56,361 $58,882 March 31, 2021 December 31, 2020,

Note 12 - Investment in Debt Se

Note 12 - Investment in Debt Security	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	12. INVESTMENT IN DEBT SECURITY The Company purchased a 4,000,000 June 2020. $512,821 20,000,000 5%

Note 13 - Commitment

Note 13 - Commitment	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Commitments Disclosure [Text Block]	13. COMMITMENT Sales Incentive Agreement with TTI On March 25, 2020, 1. The term of the agreement is one one 2. For each $5,000,000 $20,000,000 first 20% $500,000 62,500 3. In the event that TTI generates revenue in excess of $20,000,000 first five 12,500 $12.00 $1,000,000 $20,000,000 $25,000,000 In no 250,000 62,500 There has been no three March 31, 2021 2020.

Note 14 - Convertible Notes Pay

Note 14 - Convertible Notes Payable	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	14. CONVERTIBLE NOTES PAYABLE There was no March 31, 2021 December 31, 2020. 2020 Securities Purchase Agreement dated July 10, 2019 On July 10, 2019, $3,060,000 $2,550,000 $510,000. $918,000 180 $1,071,000 270 12 The Original Note was secured by a lien on substantially all of the Company's assets and properties and was convertible at the option of the Investor in shares of common stock at a fixed conversion price of $12.00 In connection with the closing of the Original Note, the Company issued a five 250,000 $12.00 $50,000 33,334 $400,000 $193,500 $71,330. $595,662 On March 12, 2020, $3,789,000 $729,000 April 13, 2020. $5.20 $6.08, $0.88 $641,215 On April 12, 2020, May 6, 2020, June 12, 2020 $5.20 June 12, 2020. Until the second 20% On June 10, 2020, $0. $3,789,000 728,654 2020. January 2020 On January 13, 2020, $157,000 10% “January 2020 June 13, 2020 $12.00 81,250 $75,000 6,250 January 2020 On June 12, 2020, January 2020 $211,984. 75,000 July 2020. February 2020 On February 13, 2020, $126,000 10% “February 2020 July 13, 2020 $9.20 March 12, 2020, $5.20 February $5.20 $70,998. February 2020 10% 30%. 6,250 $57,500 $6,000 February 2020 The February 2020 July 10, 2020 $170,442. May 2020 On May 6, 2020, $2,415,000 “May 2020 $2,100,000 five $268,333 seven twelfth May 2020 $9.28 May 2020 $133,333 14,368 $9.28 7% May 2020 five 237,500 $9.28 $876,937 May 2020 Following the completion of the underwritten offering in July 2020, $2,415,000 third 2020. $1,218,163 July 2020. June 2020 On June 29, 2020, $1,811,250 “June 2020 $1,575,000 nine $201,250 four twelfth June 2020 $9.28 June 2020 $100,000 17,071 $5.86 7% In connection with the closing of the June 2020 five 178,125 $9.28 Following the completion of the underwritten offering in July 2020, $1,811,250 third 2020. $957,919 July 2020.

Note 15 - Leases

Note 15 - Leases	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	15. LEASES The Company's leases office space in New Jersey, Hong Kong, Minnesota, and New Hampshire with lease termination dates in 2023, 2022, 2022, 2022, 3 Months ended March 31, 2021 3 Months ended March 31, 2020 Lease cost Operating lease cost $ 63,973 $ 53,723 Total lease cost $ 63,973 $ 53,723 Balance sheet information March 31, 2021 December 31, 2020 Operating right-of-use assets $ 430,206 $ 487,325 Operating lease liabilities, current portion $ 230,072 $ 234,309 Operating lease liabilities, non-current portion 211,442 264,163 Total operating lease liabilities $ 441,514 $ 498,472 Weighted average remaining lease term (in years) – operating leases 2.04 2.26 Weighted average discount rate – operating leases 5.50 % 5.50 % Supplemental cash flow information related to leases were as follows: Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2021 and 2020: $ 63,812 $ 52,301 Maturities of operating lease liabilities were as follows as of March 31, 2021: 2021 (9 months remaining) $ 193,165 2022 187,594 2023 89,225 Total future lease payments $ 469,984 Less: imputed interest (28,470 ) Total $ 441,514

Note 16 - Earnings Per Share ("

Note 16 - Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	16. EARNINGS PER SHARE (“EPS”) The Company's basic EPS is calculated using net income (loss) available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of preferred stock. The basic and diluted EPS calculations was as follows for the three March 31, 2021 2020: Three Months ended March 31, 2021 2020 Basic and Diluted Numerator: Net loss $ (851,431 ) $ (3,370,282 ) Deemed dividends related to down-round features - (112,686 ) Net loss available to common stockholders (basic and diluted) $ (851,431 ) $ (3,482,968 ) The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the three March 31, 2021 2020: Three Months ended March 31, 2021 2020 Stock options - 60 Warrants - 1,390 Convertible notes - 466,971 Total - 468,421 The following table sets forth options and warrants which were excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares: Three Months Ended March 31, 2021 2020 Stock options 212,711 205,121 Warrants 4,689,387 275,236 Total 4,902,098 480,357

Note 17 - Stockholders' Equity

Note 17 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	17. STOCKHOLDERS' EQUITY 1. Within the limits and restrictions provided in the Company's Certificate of Incorporation, the Board of Directors has the authority, without further action by the shareholders, to issue up to 5,000,000 $.0001 one 2. Effective November 20, 2020, 1 8. not November 20, 2020. Holders of common stock have equal rights to receive dividends when, as and if declared by the Board of Directors, out of funds legally available therefor. Holders of common stock have one not Holders of common stock are entitled, upon liquidation of the Company, to share ratably in the net assets available for distribution, subject to the rights, if any, of holders of any preferred stock then outstanding. Shares of common stock are not no Issuances of Common Stock On March 30, 2020, 121,500 $12.00 $1,458,000 See Note 14 2020. Issuances of Nonvested Stock Nonvested stock consists of shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. The fair value of nonvested shares is determined based on the market price of the Company's common stock on the grant date. Nonvested stock is expensed ratably over the term of the restriction period. The Company issued 1,250 three March 31, 2021 three $4,550. Nonvested stock compensation for the three March 31, 2021 $17,375. Issuances to Directors, Executive Officers & Consultants During the three March 31, 2021, 2,091 $7,510. no three March 31, 2020. Employees ' exercise options During the three March 31, 2021 2020, no 3. There were no three March 31, 2021 2020. 4. September 23, 2015 On September 23, 2015, “2015 8,681 $28.80 five 2015 September 2020. The 2015 first 2020 February 2020 2015 48,078, $5.20 $41,688.

Note 18 - Fair Values of Financ

Note 18 - Fair Values of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	18. FAIR VALUES OF FINANCIAL INSTRUMENTS Cash and cash equivalents, accounts receivable, due from factor, accounts payable and accrued liabilities are carried at, or approximate, fair value because of their short-term nature. The carrying value of the Company's notes and loan payables approximated fair value as the interest rates related to the financial instruments approximated market.

Note 19 - Major Customers and A

Note 19 - Major Customers and Accounts Receivables	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	19. MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLES For the three March 31, 2021 2020, two 52% three 71% Two 68% March 31, 2021. December 31, 2020, one 31%

Note 20 - Subsequent Events

Note 20 - Subsequent Events	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	20. SUBSEQUENT EVENTS On May 13, 2021, 1,292 1,250 three The Company has reviewed subsequent events through the date of this filing.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of BIO-key International, Inc. and its wholly-owned subsidiaries (collectively, the “Company” or “BIO-key”) and are stated in conformity with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The operating results for interim periods are not may In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all necessary adjustments, consisting only of those of a recurring nature, and disclosures to present fairly the Company's financial position and the results of its operations and cash flows for the periods presented. The balance sheet at December 31, 2020 not 10 December 31, 2020, March 29, 2021. Effective November 20, 2020, 1 8.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency The Company accounts for foreign currency transactions pursuant to ASC 830, Foreign Currency Matters 830” 830,
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses 326 2016 13, not 2016 13 2016 13 no not may not 2016 13. 2016 13 December 15, 2022 2016 13 Effective January 1, 2021, 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 2019 12 2019 12 2019 12 2019 12 not Management does not not

Note 3 - Revenue From Contrac_2

Note 3 - Revenue From Contracts With Customers (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	North America Africa EMESA* Asia March 31, 2021 License fees $ 368,800 $ - $ 42,508 $ 67,650 $ 478,958 Hardware 48,795 684,839 265,995 30,029 1,029,658 Services 359,614 - 17,888 2,520 380,022 Total Revenues $ 777,209 $ 684,839 $ 326,391 $ 100,199 $ 1,888,638 North America Africa EMESA* Asia March 31, 2020 License fees $ 165,235 $ - $ - $ 70,110 $ 235,345 Hardware 56,354 - - 23,263 79,617 Services 196,316 - 4,142 7,065 207,523 Total Revenues $ 417,905 $ - $ 4,142 $ 100,438 $ 522,485

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2021 2020 Accounts receivable $ 1,446,033 $ 561,834 Allowance for doubtful accounts (13,785 ) (13,785 ) Accounts receivable, net of allowances for doubtful accounts $ 1,432,248 $ 548,049

Note 6 - Share Based Compensa_2

Note 6 - Share Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2021 2020 Selling, general and administrative $ 128,944 $ 441,308 Research, development and engineering 12,204 71,411 $ 141,148 $ 512,719

Note 7 - Factoring (Tables)

Note 7 - Factoring (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2021 2020 Accounts receivable $ 1,446,033 $ 561,834 Allowance for doubtful accounts (13,785 ) (13,785 ) Accounts receivable, net of allowances for doubtful accounts $ 1,432,248 $ 548,049
Factoring Fees [Table Text Block]	Three Months ended March 31, 2021 2020 Factoring fees $ 13,347 $ 32,000
Factored Accounts Receivable [Member]
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2021 2020 Original invoice value $ 101,430 $ 241,715 Factored amount (51,622 ) (181,262 ) Balance due from factor $ 49,808 $ 60,453

Note 9 - Prepaid Expenses and_2

Note 9 - Prepaid Expenses and Other (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	March 31, December 31, 2021 2020 Deposit for inventory $ 1,423,445 $ 66,995 Other prepaid expenses 109,371 64,178 Insurance 46,935 45,468 Software licenses 26,410 24,866 Total prepayments $ 1,606,161 $ 201,507

Note 10 - Inventory (Tables)

Note 10 - Inventory (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2021 2020 Finished goods $ 494,322 $ 221,130 Fabricated assemblies 106,125 109,817 Total inventory $ 600,447 $ 330,947

Note 15 - Leases (Tables)

Note 15 - Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Lessee, Operating Lease, Costs, Assets and Liabilities [Table Text Block]	3 Months ended March 31, 2021 3 Months ended March 31, 2020 Lease cost Operating lease cost $ 63,973 $ 53,723 Total lease cost $ 63,973 $ 53,723 Balance sheet information March 31, 2021 December 31, 2020 Operating right-of-use assets $ 430,206 $ 487,325 Operating lease liabilities, current portion $ 230,072 $ 234,309 Operating lease liabilities, non-current portion 211,442 264,163 Total operating lease liabilities $ 441,514 $ 498,472 Weighted average remaining lease term (in years) – operating leases 2.04 2.26 Weighted average discount rate – operating leases 5.50 % 5.50 %
Lessee, Operating Lease, Supplemental Cash Flow Information [Table Text Block]	Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2021 and 2020: $ 63,812 $ 52,301
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2021 (9 months remaining) $ 193,165 2022 187,594 2023 89,225 Total future lease payments $ 469,984 Less: imputed interest (28,470 ) Total $ 441,514

Note 16 - Earnings Per Share _2

Note 16 - Earnings Per Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months ended March 31, 2021 2020 Basic and Diluted Numerator: Net loss $ (851,431 ) $ (3,370,282 ) Deemed dividends related to down-round features - (112,686 ) Net loss available to common stockholders (basic and diluted) $ (851,431 ) $ (3,482,968 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months ended March 31, 2021 2020 Stock options - 60 Warrants - 1,390 Convertible notes - 466,971 Total - 468,421 Three Months Ended March 31, 2021 2020 Stock options 212,711 205,121 Warrants 4,689,387 275,236 Total 4,902,098 480,357

Note 1 - Nature of Business a_2

Note 1 - Nature of Business and Basis of Presentation (Details Textual)	Nov. 20, 2020
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	8

Note 2 - Going Concern (Details

Note 2 - Going Concern (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Monthly Cash Requirement to Conduct Operations and Pay Dividend Obligations	$ 735,000
Revenue from Contract with Customer, Including Assessed Tax	1,888,638	$ 522,485
Net Cash Provided by (Used in) Financing Activities, Total	(252,709)	$ 1,605,729	$ 24,000,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 13,528,521		$ 16,993,096

Note 3 - Revenue From Contrac_3

Note 3 - Revenue From Contracts With Customers (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Percentage of Support and Maintenance Revenue to License Cost	18.00%
Capitalized Contract Cost, Amortization Period (Year)	4 years
Contract with Customer, Liability, Total	$ 574,000		$ 702,000
Contract with Customer, Liability, Revenue Recognized	$ 305,000	$ 72,000

Note 3 - Revenue From Contrac_4

Note 3 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($)		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Revenue from Contract with Customer, Including Assessed Tax		$ 1,888,638	$ 522,485
North America [Member]
Revenue from Contract with Customer, Including Assessed Tax		777,209	417,905
South America [Member]
Revenue from Contract with Customer, Including Assessed Tax		684,839
EMEA [Member]
Revenue from Contract with Customer, Including Assessed Tax	[1]	326,391	4,142
Asia [Member]
Revenue from Contract with Customer, Including Assessed Tax		100,199	100,438
License [Member]
Revenue from Contract with Customer, Including Assessed Tax		478,958	235,345
License [Member] | North America [Member]
Revenue from Contract with Customer, Including Assessed Tax		368,800	165,235
License [Member] | South America [Member]
Revenue from Contract with Customer, Including Assessed Tax
License [Member] | EMEA [Member]
Revenue from Contract with Customer, Including Assessed Tax	[1]	42,508
License [Member] | Asia [Member]
Revenue from Contract with Customer, Including Assessed Tax		67,650	70,110
Hardware [Member]
Revenue from Contract with Customer, Including Assessed Tax		1,029,658	79,617
Hardware [Member] | North America [Member]
Revenue from Contract with Customer, Including Assessed Tax		48,795	56,354
Hardware [Member] | South America [Member]
Revenue from Contract with Customer, Including Assessed Tax		684,839
Hardware [Member] | EMEA [Member]
Revenue from Contract with Customer, Including Assessed Tax	[1]	265,995
Hardware [Member] | Asia [Member]
Revenue from Contract with Customer, Including Assessed Tax		30,029	23,263
Service [Member]
Revenue from Contract with Customer, Including Assessed Tax		380,022	207,523
Service [Member] | North America [Member]
Revenue from Contract with Customer, Including Assessed Tax		359,614	196,316
Service [Member] | South America [Member]
Revenue from Contract with Customer, Including Assessed Tax
Service [Member] | EMEA [Member]
Revenue from Contract with Customer, Including Assessed Tax		17,888	4,142
Service [Member] | Asia [Member]
Revenue from Contract with Customer, Including Assessed Tax		$ 2,520	$ 7,065
[1]	EMESA – Europe, Middle East, South America

Note 4 - PistolStar, Inc. Acq_2

Note 4 - PistolStar, Inc. Acquisition (Details Textual)	Jan. 21, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Repayments of Notes Payable			$ 250,000
PistolStar [Member]
Business Combination, Consideration Transferred, Total		$ 2,500,000
Payments to Acquire Businesses, Net of Cash Acquired, Total		2,000,000
Business Combination, Consideration Transferred, Liabilities Incurred		$ 500,000
PistolStar [Member] | Promissory Note [Member]
Debt Instrument, Interest Rate, Stated Percentage		4.00%
Debt Instrument, Number of Installments		4
Debt Instrument, Term (Month)		1 year
Notes Payable, Total					$ 232,000
Repayments of Notes Payable	$ 250,000

Note 5 - Accounts Receivable -

Note 5 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Accounts receivable	$ 1,446,033	$ 561,834
Allowance for doubtful accounts	(13,785)	(13,785)
Accounts receivable, net of allowances for doubtful accounts	$ 1,432,248	$ 548,049

Note 6 - Share Based Compensa_3

Note 6 - Share Based Compensation - Expenses for Continuing Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based compensation expense	$ 141,148	$ 512,719
Selling, General and Administrative Expenses [Member]
Share-based compensation expense	128,944	441,308
Research and Development Expense [Member]
Share-based compensation expense	$ 12,204	$ 71,411

Note 7 - Factoring (Details Tex

Note 7 - Factoring (Details Textual)	3 Months Ended
	Mar. 31, 2021USD ($)
Factoring Arrangement, Minimum Amount of Accounts Receivable Per Quarter	$ 150,000
Minimum [Member]
Factoring Fees Percent	2.75%
Maximum [Member]
Factoring Fees Percent	15.00%
Geographic Distribution, Foreign [Member]
Percentage Of Accounts Receivable Remitted By Factor	35.00%
Geographic Distribution, Domestic [Member]
Percentage Of Accounts Receivable Remitted By Factor	75.00%

Note 7 - Factoring - Due From F

Note 7 - Factoring - Due From Factor (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Original invoice value	$ 101,430	$ 241,715
Factored amount	(51,622)	(181,262)
Balance due from factor	$ 49,808	$ 60,453

Note 7 - Factoring - Fees (Deta

Note 7 - Factoring - Fees (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Factoring fees	$ 13,347	$ 32,000

Note 8 - Note Receivable (Detai

Note 8 - Note Receivable (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Financing Receivable, after Allowance for Credit Loss, Current, Total		$ 295,000	$ 295,000
Receivable with Imputed Interest, Effective Yield (Interest Rate)	5.00%

Note 9 - Prepaid Expenses and_3

Note 9 - Prepaid Expenses and Other (Details Textual) $ in Millions	Mar. 31, 2021USD ($)
Prepaid Deposit for Hardware Devices [Member]	$ 1.4

Note 9 - Prepaid Expenses and_4

Note 9 - Prepaid Expenses and Other - Prepaid Expenses (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Deposit for inventory	$ 1,423,445	$ 66,995
Other prepaid expenses	109,371	64,178
Insurance	46,935	45,468
Software licenses	26,410	24,866
Total prepayments	$ 1,606,161	$ 201,507

Note 10 - Inventory - Component

Note 10 - Inventory - Components of Inventory (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Finished goods	$ 494,322	$ 221,130
Fabricated assemblies	106,125	109,817
Total inventory	$ 600,447	$ 330,947

Note 11 - Resalable Software _2

Note 11 - Resalable Software License Rights (Details Textual) - USD ($)	Dec. 31, 2015	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Amortization of Intangible Assets, Total		$ 54,016	$ 7,164
Software License Rights [Member]
Payments to Acquire Software	$ 180,000
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Amortization of Intangible Assets, Total		2,521	$ 5,028
Software License Rights		56,361
Software License Rights [Member] | Cost of Sales [Member]
Amortization of Intangible Assets, Total		$ 123,639
The 2015 Software License [Member]
Software License Rights				$ 58,882

Note 12 - Investment in Debt _2

Note 12 - Investment in Debt Security (Details Textual)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020HKD ($)
Debt Securities, Held-to-maturity, Current	$ 512,821	$ 512,821
Debt Security, Corporate, Non-US [Member]
Debt Securities, Held-to-maturity, Current			$ 512,821	$ 4,000,000
Limit of Bond				$ 20,000,000
Investment in Held-to-maturity Debt Securities, Interest Rate			5.00%	5.00%

Note 13 - Commitment (Details T

Note 13 - Commitment (Details Textual) - USD ($)	Mar. 25, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 30, 2020	Sep. 23, 2015
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)					8,681
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)				$ 12	$ 28.80
Technology Transfer Institute [Member] | Sales Incentive Agreement With TTI [Member]
Related Party Agreement, Term (Year)	1 year
Related Party Transaction, Revenue Needed to Trigger Payment of Sales Incentive Fee	$ 5,000,000
Related Party Transaction, Revenue to Trigger Payment of Sales Incentive Fee, Percent of Net Income, Minimum	20.00%
Related Party Transaction, Sales Incentive Fee For Each 5 Million Revenue	$ 500,000
Stock Issuable for Sales Incentive Fee Per Each 5 Million Revenue (in shares)	62,500
Related Party Transaction, Maximum Revenue, Warrants Issuable	$ 25,000,000
Revenue from Related Parties		$ 0	$ 0
Technology Transfer Institute [Member] | Sales Incentive Agreement With TTI [Member] | Warrants Issuable for Each 1 Million Revenue in Excess of 20 Million [Member]
Warrants and Rights Outstanding, Term (Year)	5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	12,500
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 12
Technology Transfer Institute [Member] | Sales Incentive Agreement With TTI [Member] | Maximum [Member]
Related Party Transaction, Maximum Revenue to Trigger Payment of Sales Incentive Fee	$ 20,000,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	62,500
Stock Issuable for Sales Incentive Agreement (in shares)	250,000

Note 14 - Convertible Notes P_2

Note 14 - Convertible Notes Payable (Details Textual) - USD ($)	Jul. 10, 2020	Jun. 29, 2020	Jun. 12, 2020	Jun. 10, 2020	May 06, 2020	Mar. 12, 2020	Feb. 13, 2020	Jan. 13, 2020	Jul. 10, 2019	Jul. 31, 2020	Sep. 30, 2020	Mar. 30, 2020	Sep. 23, 2015
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)													8,681
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)												$ 12	$ 28.80
Payments of Stock Issuance Costs, Commitment Fees									$ 50,000
Stock Issued During Period, Shares, Issued for Due Diligence Fee (in shares)		17,071			14,368				33,334
Stock Issued During Period, Value, Issued for Due Diligence Fee		$ 100,000			$ 133,333				$ 400,000
Payments of Stock Issuance Costs, Banker Fees									193,500
Payments of Stock Issuance Costs, Legal Fees									71,330
Class of Warrant or Right, Recorded as Debt Discount									$ 595,662
Share Price (in dollars per share)			$ 5.20			$ 6.08
Stock Returned During the Period, Shares, Commitment Fee (in shares)										75,000
Shares Issued, Price Per Share (in dollars per share)		$ 5.86			$ 9.28
Conversion of Senior Secured Convertible Note to Common Stock [Member]
Debt Conversion, Original Debt, Amount				$ 3,789,000
Debt Conversion, Converted Instrument, Shares Issued (in shares)				728,654
Investor Warrant [Member]
Warrants and Rights Outstanding, Term (Year)		5 years			5 years				5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		178,125			237,500				250,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 9.28			$ 9.28				$ 12
Repayments of Convertible Debt										$ 2,415,000
Warrants and Rights Outstanding					$ 876,937
Payments of Debt Issuance Costs										1,218,163
Secured Redeemable Convertible Note [Member] | February 2020 Note [Member]
Debt Instrument, Convertible, Conversion Price (in dollars per share)						$ 5.20	$ 9.20
The Note [Member] | Senior Secured Convertible Note [Member]
Debt Instrument, Face Amount									$ 3,060,000
Proceeds from Debt, Net of Issuance Costs									2,550,000
Debt Instrument, Unamortized Discount, Total									510,000
Debt Instrument, Periodic Payment, Principal due in 180 Days									918,000
Debt Instrument, Periodic Payment, Principal due in 270 Days									$ 1,071,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)									$ 12
Amended Note [Member] | Senior Secured Convertible Note [Member]
Debt Instrument, Face Amount						$ 3,789,000
Debt Instrument, Unamortized Discount, Total						$ 641,215
Debt Instrument, Convertible, Conversion Price (in dollars per share)						$ 5.20
Interest Expense, Debt, Total						$ 729,000
Debt Instrument, Convertible, Beneficial Conversion Feature, Per Share (in dollars per share)						$ 0.88
Long-term Debt, Total				$ 0
January 2020 Note [Member] | Secured Redeemable Convertible Note [Member]
Debt Instrument, Face Amount								$ 157,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)								$ 12
Debt Instrument, Interest Rate, Stated Percentage								10.00%
Stock Issued During Period, Shares, Commitment Fees (in shares)								81,250
Debt Instrument, Fee Amount								$ 75,000
Debt Instrument, Covenant, Shares to be Paid, Commitment Fee, Repaid Prior to Maturity (in shares)								6,250
Repayments of Convertible Debt			$ 211,984
February 2020 Note [Member] | Secured Redeemable Convertible Note [Member]
Debt Instrument, Face Amount							$ 126,000
Debt Instrument, Interest Rate, Stated Percentage							10.00%
Stock Issued During Period, Shares, Commitment Fees (in shares)							6,250
Debt Instrument, Fee Amount							$ 57,500
Repayments of Convertible Debt	$ 170,442
Debt Instrument, Deemed Dividend Expense						$ 70,998
Legal Fees							$ 6,000
February 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | Minimum [Member]
Debt Instrument, Convertible, Premium Payment Percentage							10.00%
February 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | Maximum [Member]
Debt Instrument, Convertible, Premium Payment Percentage							30.00%
May 2020 Note [Member] | Secured Redeemable Convertible Note [Member]
Debt Instrument, Face Amount					2,415,000
Proceeds from Debt, Net of Issuance Costs					$ 2,100,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)					$ 9.28
Debt Instrument, Periodic Payment, Principal					$ 268,333
Placement Fee, Percent of Aggregate Gross Proceeds					7.00%
June 2020 Note [Member] | Secured Redeemable Convertible Note [Member]
Debt Instrument, Face Amount		$ 1,811,250
Proceeds from Debt, Net of Issuance Costs		$ 1,575,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)		$ 9.28
Repayments of Convertible Debt											$ 1,811,250
Debt Instrument, Periodic Payment, Principal		$ 201,250
Placement Fee, Percent of Aggregate Gross Proceeds		7.00%
Amortization of Debt Issuance Costs and Discounts, Total										$ 957,919

Note 15 - Leases - Operating Le

Note 15 - Leases - Operating Lease Balance Sheet Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Operating lease cost	$ 63,973	$ 53,723
Total lease cost	63,973	$ 53,723
Operating right-of-use assets	430,206		$ 487,325
Operating lease liabilities, current portion	230,072		234,309
Operating lease liabilities, non-current portion	211,442		264,163
Total operating lease liabilities	$ 441,514		$ 498,472
Weighted average remaining lease term (in years) – operating leases (Year)	2 years 14 days		2 years 94 days
Weighted average discount rate – operating leases	5.50%		5.50%

Note 15 - Leases - Supplemental

Note 15 - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2021 and 2020:	$ 63,812	$ 52,301

Note 15 - Leases - Operating _2

Note 15 - Leases - Operating Lease Liability Maturity (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
2021 (9 months remaining)	$ 193,165
2022	187,594
2023	89,225
Total future lease payments	469,984
Less: imputed interest	(28,470)
Total	$ 441,514	$ 498,472

Note 16 - Earnings Per Share _3

Note 16 - Earnings Per Share ("EPS") - Reconciliation of Numerator of Basic and Diluted EPS Calculations (Details) - USD ($)	Sep. 23, 2015	Mar. 31, 2021	Mar. 31, 2020
Net loss		$ (851,431)	$ (3,370,282)
Deemed dividends related to down-round features	$ (41,688)		(112,686)
Net loss available to common stockholders		$ (851,431)	$ (3,482,968)

Note 16 - Earnings Per Share _4

Note 16 - Earnings Per Share ("EPS") - Securities Excluded from the Diluted Per Share Calculation (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Exercise Price Less Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)		468,421
Exercise Price Greater Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)	4,902,098	480,357
Share-based Payment Arrangement, Option [Member] | Exercise Price Less Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)		60
Share-based Payment Arrangement, Option [Member] | Exercise Price Greater Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)	212,711	205,121
Warrant [Member] | Exercise Price Less Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)		1,390
Warrant [Member] | Exercise Price Greater Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)	4,689,387	275,236
Convertible Debt Securities [Member] | Exercise Price Less Than Average Market Price Of Common Shares [Member]
Antidilutive securities (in shares)		466,971

Note 17 - Stockholders' Equity

Note 17 - Stockholders' Equity (Details Textual)	Nov. 20, 2020	Mar. 30, 2020USD ($)$ / sharesshares	Sep. 23, 2015USD ($)$ / sharesshares	Mar. 31, 2021USD ($)shares	Mar. 31, 2020USD ($)shares	Sep. 30, 2020$ / sharesshares
Preferred Stock, Shares Authorized (in shares)						5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares						$ 0.0001
Stock Issued During Period, Shares, Warrants Exercises (in shares)		121,500
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares		$ 12	$ 28.80
Proceeds from Warrant Exercises | $		$ 1,458,000			$ 1,458,000
Share-based Payment Arrangement, Expense | $				141,148	$ 512,719
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $				$ 7,510
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)				0	0
Class of Warrant or Right, Issued During Period (in shares)				0	0
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			8,681
Dividends, Paid-in-kind, Total | $			$ 41,688		$ 112,686
September 2015 Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares			$ 5.20
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			48,078
Warrants and Rights Outstanding, Term (Year)			5 years
Common Stock [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares)				1,250
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)				2,091
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $
Director [Member] | Common Stock [Member]
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)				2,091
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $				$ 7,510	$ 0
Restricted Stock [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares)				1,250
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $				$ 4,550
Share-based Payment Arrangement, Expense | $				$ 17,375
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	8

Note 19 - Major Customers and_2

Note 19 - Major Customers and Accounts Receivables (Details Textual) - Customer Concentration Risk [Member]	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue Benchmark [Member]
Concentration Risk, Number of Major Customers	2	3
Revenue Benchmark [Member] | Two Customers [Member]
Concentration Risk, Percentage	52.00%
Revenue Benchmark [Member] | Three Customers [Member]
Concentration Risk, Percentage		71.00%
Current Accounts Receivable [Member]
Concentration Risk, Number of Major Customers	2		1
Current Accounts Receivable [Member] | Two Customers [Member]
Concentration Risk, Percentage	68.00%
Current Accounts Receivable [Member] | One Customer [Member]
Concentration Risk, Percentage			31.00%

Note 20 - Subsequent Events (De

Note 20 - Subsequent Events (Details Textual) - shares	May 13, 2021	Mar. 31, 2021
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Subsequent Event [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	1,250
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Subsequent Event [Member] | Director [Member]
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	1,292