Stock Alert: BIO-key International Shares Soar Over 300% In Early Trading

(RTTNews) - Shares of BIO-key International, Inc. (BKYI) are soaring over 300% in pre-market today, after the company announced a contract to provide its biometric software and hardware solutions in support of a Nigerian Ministry of Labour program to educate, empower and create employment for one million recent college graduates in Nigeria.

The program also seeks to foster the creation of a secure and scalable e-commerce infrastructure to support a variety of industries across Nigeria. BIO-key expects to generate $45 million in revenue from this contract over the next 18 months.

Further, the company noted that the program involves training and equipping about one million recent graduates with hardware devices, biometric readers and software, plus the requisite skills necessary to utilize BIO-key's biometric technology solutions.

The stock has been trading between $0.35 and $2.30 in the past one year, and closed Thursday's trade at $0.55, up 2 cents or 3.30%. BKYI is currently trading at $2.25, up $1.70 or 310.96% in the pre-market trading session.