Company: BNBX
Filing Date: 2025-10-06
Form Type: 8-K
Source: 0001104659-25-097097
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Company: BNB PLUS CORP.
Filing Date: 2025-10-06
Form: 8-K
Item: Item 2.05
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Item 2.05 Costs Associated with Exit or Disposal Activities.

On September 30, 2025,
the Board of Directors of Applied DNA Sciences, Inc. (the “ Company”)
authorized, and its officers implemented, a restructuring plan pursuant to which the Company will reduce overall operating expenses
to focus resources on its previously announced BNB-focused treasury strategy. The restructuring plan includes a reduction of the
Company’s current workforce by sixteen employees, or approximately 60%. The Company estimates that it will incur aggregate
pre-tax charges of approximately $1.4 million in connection with the reduction-in-force, primarily consisting of severance payments,
employee benefits, and related costs. The Company expects that the reduction-in-force will be substantially completed by the end of
October 2025 and that the associated charges will be recorded in the first quarter of fiscal 2026. The Company estimates that the
restructuring will result in annualized cost savings of approximately $2.9 million. The estimated charges that the Company expects
to incur are subject to a number of assumptions, and actual results may differ materially from these estimates. The Company may also
incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the
restructuring plan.

Item 7.01 Regulation FD Disclosure.