Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 188

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 188
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 has entered into contracts with customers for which revenue has not yet been recognized. Consideration received from a customer prior to revenue recognition is recorded to a contract liability and is recognized as revenue when the Company satisfies the related performance obligations under the terms of the contract. The Company’s contract liabilities, which are reported as deferred revenue on the condensed consolidated balance sheet, consist almost entirely of research and development contracts where consideration has been received and the development services have not yet been fully performed.

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

| ​                    | ​ | ​                            | ​ |          ​ |       ​ | ​ |        ​ |       ​ | ​ | ​      |        ​ |
|:---------------------|:--|:-----------------------------|:--|-----------:|--------:|:--|---------:|--------:|:--|:-------|---------:|
| ​                    | ​ | ​                            | ​ | October 1, |         | ​ | June 30, |         | ​ | $      |          |
| ​                    |   | Balance sheet classification |   |       2024 |         |   |     2025 |         |   | change |          |
| Contract assets      | ​ | Accounts receivables         | ​ |          $ | 328,252 | ​ |        $ | 199,047 | ​ | $      | -129,205 |
| Contract liabilities |   | Deferred revenue             | ​ |          $ | 252,785 | ​ |        $ | 206,285 | ​ | $      |  -46,500 |

| ​                    | ​ | ​                            | ​ |          ​ |       ​ | ​ |             ​ |       ​ | ​ | ​      |       ​ |
|:---------------------|:--|:-----------------------------|:--|-----------:|--------:|:--|--------------:|--------:|:--|:-------|--------:|
| ​                    | ​ | ​                            | ​ | October 1, |         | ​ | September 30, |         | ​ | $      |         |
| ​                    |   | Balance sheet classification |   |       2023 |         |   |          2024 |         |   | change |         |
| Contract assets      | ​ | Accounts receivables         | ​ |          $ | 212,966 | ​ |             $ | 328,252 | ​ | $      |