Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 156

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 156
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,250,471 |
| Accumulated depreciation    | ​ | ​             | 4,109,010 | ​ |   | 3,412,201 |
| Property and equipment, net | ​ | $             |   553,233 | ​ | $ |   838,270 |

As of September 30, 2024 and 2023, there was $ and $ of construction in progress, respectively that was included in lab equipment. Depreciation expense for the fiscal years ended September 30, 2024 and 2023 were $ and $, respectively.

Impairment of Long-Lived Assets

The Company evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses, or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of long-lived assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset.

Net Loss per Share

The Company presents loss per share utilizing a dual presentation of basic and diluted loss per share. Basic loss per share includes no dilution and has been calculated based upon the weighted average number of common shares outstanding during the period. Dilutive common stock equivalents consist of shares issuable upon the exercise of the Company’s stock options, restricted stock units and warrants.

Securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share because to do so would have been antidilutive for the fiscal years ended September 30, 2024 and 2023 are as follows:

| ​                      | ​ |          ​ | ​ |       ​ |
| ​                      |   |       2024 |   |    2023 |
| Warrants               | ​ | 19,748,143 | ​ | 261,029 |
| Restricted Stock Units | ​ |          — | ​ |  14,132 |
| Options                | ​ |    108,635 |   | 110,537 |
| ​                      | ​ | 19,856,778 |   | 385,698 |

F-12

NOTE C – BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES