Company: BNBX
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001104659-25-002521
Chunk: 26

Company: BNB PLUS CORP.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 26
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 concern.

We have recurring net losses, which have resulted
in an accumulated deficit of $309,672,755 as of September 30, 2024. We have incurred a net loss of $7,088,306 for the fiscal year
ended September 30, 2024. At September 30, 2024, we had cash and cash equivalents of $6,431,095. We have concluded that these
factors raise substantial doubt about our ability to continue as a going concern for one year from the issuance of the financial statements.
We will continue to seek to raise additional working capital through public equity, private equity or debt financings. If we fail to
raise additional working capital, or do so on commercially unfavorable terms, it would materially and adversely affect our business,
prospects, financial condition and results of operations, and we may be unable to continue as a going concern. If we seek additional
financing to fund our business activities in the future and there remains substantial doubt about our ability to continue as a going
concern, investors or other financing sources may be unwilling to provide additional funding to us on commercially reasonable terms,
if at all. On October 31, 2024, we closed the Offering and received net proceeds, after deducting placement agent fees and other estimated
offering expenses payable by us, of approximately $5.8 million. As a result of the Offering, our consolidated cash balance as of November
30, 2024 was approximately $10.1 million.

There can be no assurance that a commercial demand for our Linea™ Mpox Virus Assay and/or mpox testing services will develop.

On September 11, 2024 the Company announced
that after interactions with relevant regulatory bodies, including NYSDOH and U.S. FDA, it was launching clinical testing services for
both mpox clade I and clade II utilizing the Linea mpox Virus Assay (the “Assay”) in New York State and in states that recognize
New York’s CLEP/CLIA certification. To date, the Company has not performed clinical testing for mpox clade I or clade II. Future
commercial demand for the Assay and/or associated mpox testing services is based upon the unknown and unpredictable future path of the
mpox public health emergency. Currently, mpox disease prevalence (both clade I and clade II) is extremely low the United States, resulting
in minimal demand for clinical mpox testing. It