BIO-key Announces Initial Orders in China and Japan for its TouchLock(TM) Smart-Biometric Padlocks and Bicycle Locks
Smart-Biometric Locks Eliminate Keys and Combinations
TOKYO, JAPAN and WALL, NJ / ACCESSWIRE / June 14, 2017 / BIO-key International, Inc. (OTCQB: BKYI), an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, announced today it has secured initial orders for its TouchLock(TM) series of biometric locks, which were debuted at the Consumer Electronics Show in January. BIO-key will be featuring the TouchLock series at GIFTEX 2017, Japan's leading trade show for all kinds of gifting items from July 5-7 in Tokyo, Japan.
TouchLock provides the security necessary to protect physical items, while at the same time eliminating the need for a key or to remember a lock's combination. Each TouchLock model allows for multiple users fingerprints to be registered, depending upon the use case. The original owner or enrollee becomes the lock's administrator and is able to manage between 1 to 20 different user fingers. TouchLocks ensure that only those who are enrolled to open the lock are actually able to do so - providing a new level of padlock security not previously available. BIO-key's lock line includes:
TouchLock XL a durable, heavy-duty and water resistant padlock designed for securing outdoor facilities, gates, and sheds, as well as for other outdoor uses. MSRP of $49.99.
TouchLock TSA designed for travel luggage and meets U.S. Transportation Security Administration travel lock standards including the ability for airport security to open the lock using a TSA master key. MSRP of $49.99.
TouchLock Designer series offers compact, one-touch fingerprint locks that come in a variety of colors and patterns. These eye-catching locks were designed to protect handbags, laptop bags, purses, briefcases, and other small to mid-size portable personal items. MSRP of $49.99.
TouchLock Bike and TouchLock Bike BLE brings the convenience of biometric and BlueTooth security to a robust but easy to use cable lock designed to protect your bicycle or motorcycle. With TouchLock Bike, you are just a fingertip away from securing or unlocking your prized bicycle using an easy and highly secure fingerprint touch. TouchLock Bike BLE offers customers the option of opening the lock with the fingerprint sensor of their smartphone or by entering a PIN number. MSRP of $54.99.
BIO-key's TouchLock BLE comes without a fingerprint reader as it is a bluetooth enabled padlock that operates using the key-pad or fingerscanner embedded in your smartphone [along with the TouchLock app] to operate the lock. It comes in a variety of vibrant colors. MSRP of $44.99.
"Our Asia Pacific sales team is pleased to have procured initial orders from our first distribution customers in Japan and China," stated Wong Kwok Fong, Managing Director, BIO-key Hong Kong Limited. "Additionally, we have opened discussions with some of the largest bicycle manufacturers in both countries about bundling our biometric locks with the purchase of their bicycles."
"The commercial launch of these innovative products is a major milestone for BIO-key's consumer facing business and a direct benefit of our strategic partnership and presence in Asia. It's fitting that we achieve our first commercial orders in Asia," stated Mike DePasquale, Chairman & CEO, BIO-key. "Everyone needs a lock - for the gym, their bicycle, bag or luggage, fence or gate - and our TouchLock smart-lock series allows consumers to forget their combinations and throw away their keys and replace them with the 'power of a touch.' We are working to build upon these sales in Asia at the same time we are in discussions with distributors and retailers in the U.S."
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing security and authentication with convenient, secure and cost effective biometric solutions that protect devices, data and financial transactions. BIO-key solutions eliminate passwords, PINs, tokens and cards, making it easy for enterprises to implement enhanced security for devices and information in the cloud. BIO-key's patented software algorithms and premium finger scanning devices, including SideTouch, SideSwipe, and EcoID,offer market-leading quality, performance and price. New products launching mid-2017 include TouchLock(TM), biometric enabled padlocks; FreePass(TM), a portable/wearable fingerprint reader and Q-180Touch, a new micro USB fingerprint reader targeted for Android devices.
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, market acceptance of biometric solutions generally and our specific offerings, our ability to expand into the Asian market, the impact on our business of the recent financial crisis in the global capital markets, and resultant negative global economic impacts, 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, 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 circumstance after the date made.
Investor & Media Contacts
David Collins, William Jones, Tanya Kamatu
SOURCE: BIO-key International, Inc.
14/06/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
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