Grasping for Nasdaq straws, BIO-key pulls a big reverse stock split

BIO-key's board has chosen to perform a reverse stock split, which will increase the firm's share price enough to meet Nasdaq minimum requirements.

The board members have decided on a 1-for-18 reverse that will reduce the number of BIO-key common shares from 17 million issued and outstanding to about 931,000.

In August, they issued 21 million shares to raise $3.75 million, an action that helped lower share prices.

The biometric authentication software and hardware provider is one of the …

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