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Subsequent Events
3 Months Ended
Mar. 31, 2023
Subsequent Events  
Subsequent events

13. Subsequent events

 

On March 23, 2023, the Company’s Board of Directors approved a one (1)-for-five (5) reverse stock split of the Company’s authorized and outstanding shares of common stock, par value $0.60 per share (the “Common Stock”, (the “Reverse Stock Split”).  The Reverse Stock Split is being effected because the Company believes that the anticipated increase in the market price of the Common Stock resulting from the Reverse Stock Split will benefit the Company and its stockholders. The Reverse Stock Split will become effective on April 21, 2023, at 5:00 p.m., Eastern Time. The Common Stock should begin trading on a split-adjusted basis at the commencement of trading on April 24, 2023, under the Company’s existing trading symbol, “BKTI.”  Due to the effective date of April 21, 2023, the condensed consolidated financial statements have not been adjusted for the effect of the stock split.