Company: BNBX
Filing Date: 2025-01-17
Form Type: 424B3
Source: 0001104659-25-004510
Chunk: 24

Company: BNB PLUS CORP.
Filing Date: 2025-01-17
Form: 424B3
Chunk 24
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ution to our existing stockholders.

As of January 8, 2025, we had 55,188,523 shares
of Common Stock issued and outstanding, outstanding options to purchase 107,243 shares of Common Stock, outstanding warrants to purchase
91,791,191 shares of Common Stock, and 270,002 shares available for grant under our equity incentive plan. The issuance of shares upon
exercise of our outstanding options and warrants will cause immediate and substantial dilution to our stockholders and any sale thereof
may depress the market price of our Common Stock.

There is substantial doubt relating to our ability to continue as a going 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