Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 154

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 154
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ivable |   | Accounts receivable          | ​ |          $ | 255,502 | ​ |             $ | 362,013 | ​ | $      | 106,511 |

| ​                   | ​ | ​                            | ​ |          ​ |         ​ | ​ |             ​ |       ​ | ​ | ​      |          ​ |
|:--------------------|:--|:-----------------------------|:--|-----------:|----------:|:--|--------------:|--------:|:--|:-------|-----------:|
| ​                   |   | ​                            |   | October 1, |           |   | September 30, |         |   | $      |            |
| ​                   | ​ | Balance sheet classification | ​ |       2022 |           | ​ |          2023 |         | ​ | change |            |
| Contract receivable |   | Accounts receivable          | ​ |          $ | 3,067,544 | ​ |             $ | 255,502 | ​ | $      | -2,812,042 |

At September 30, 2024 and 2023, the Company has an allowance for credit losses of $. The Company writes-off receivables that are deemed uncollectible.

Inventories

Inventories, which consist primarily of raw materials, work in progress and finished goods, are stated at the lower of cost or net realizable value, with cost determined by using the first-in, first-out (FIFO) method.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, Income Taxes (“ASC 740”) which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Temporary differences between taxable income reported for financial reporting purposes and income tax purposes include, but not limited to, accounting for intangibles, equity-based compensation and depreciation and amortization. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all of the deferred tax asset will not be realized. During the fiscal years ended September 30, 2024 and 2023, the Company incurred losses from operations. Based upon these results and the