Just purchased a 96 GT convertible and need some help

This is the key I got with the car and yes the theft light blinks fast when I turn the key and the car doesn't turn overlike no power to the starter but all lights come on as they should
 

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Ya this car belonged to an older gentleman who got sick in 2017 and passed away in 2018 his wife kept the car parked until now when she decided it was time to get rid of it so I got one key and no fobs
I know you can get chipped keys and fobs easily enough, but don't know what hoops you have to jump thru to get them programmed to the specific car (especially the key itself)
 
Just an update I just talked to my mobile auto locksmith and he said it does not use a chipped key and to look into a possible ECM issue
That's odd. If it turns out he is mistaken, I found this:

 
#1 the key in the pic will not start that car.
#2 if the 'theft' light comes on or blinks you have the anti-theft option, I don't remember what year they became 'standard' equipment.
#3 call another mobile locksmith, they can copy that to chipped key blank and program it right in your driveway.
 
That's odd. If it turns out he is mistaken, I found this:

See i agree with you. If it has a PATs then it needs a programmed key other wise why have a PATs on the car
How much?
$500 and no I didn't leave off a 0 lol
#1 the key in the pic will not start that car.
#2 if the 'theft' light comes on or blinks you have the anti-theft option, I don't remember what year they became 'standard' equipment.
#3 call another mobile locksmith, they can copy that to chipped key blank and program it right in your driveway.
Thanks General you are correct as I have discovered but I purchased a new lock cylinder with keys and the locksmith is coming out tomorrow to program