Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 153

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 153
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 purpose of the accompanying consolidated financial statements, all highly liquid investments with a maturity of three months or less from when purchased are considered to be cash equivalents. The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts shown in the statement of cash flows.

| ​                                                
 ​                                                | ​ 
 ​ 
 ​ | ​    
 2024 |             ​ 
 September 30, | ​ 
 ​ | ​    
 2023 |             ​ 
 September 30, |
|:-------------------------------------------------|:--|:-----|--------------:|:--|:-----|--------------:|
| Cash and cash equivalents                        | ​ | $    |     6,431,095 | ​ | $    |     7,151,800 |
| Restricted cash                                  | ​ |      |       750,000 | ​ |      |       750,000 |
| Total cash, cash equivalents and restricted cash | ​ | $    |     7,181,095 | ​ | $    |     7,901,800 |

F-10

NOTE C – BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES, continued

Accounts Receivable

The Company provides an allowance for credit losses equal to the estimated uncollectible amounts. The Company’s estimate is based on historical collection experience and a review of the current status of trade accounts receivable. It is reasonably possible that the Company’s estimate of the allowance for credit losses may change.

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Company classifies receivable amounts as current or long-term based on expected payment and records long-term accounts receivable when the collection period is expected to be greater than one year.

The opening and closing balances of the Company’s accounts receivable balances are as follows:

| ​                   | ​ | ​                            | ​ |          ​ |       ​ | ​ |             ​ |       ​ | ​ | ​      |       ​ |
|:--------------------|:--|:-----------------------------|:--|-----------:|--------:|:--|--------------:|--------:|:--|:-------|--------:|
| ​                   |   | ​                            |   | October 1, |         |   | September 30, |         |   | $      |         |
| ​                   | ​ | Balance sheet classification | ​ |       2023 |         | ​ |          2024 |         | ​ | change |         |
| Contract rece