Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 190

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 190
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 June 30, 2025 and 2024 are as follows:

| ​             | ​ |         ​ | ​ |      ​ |
| ​             |   |      2025 |   |   2024 |
| Warrants      | ​ | 3,424,291 | ​ | 26,331 |
| Stock options | ​ |       149 | ​ |    145 |
| Total         | ​ | 3,424,440 | ​ | 26,476 |

Concentrations

Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents and trade receivables. The Company places its cash and cash equivalents with high credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit. As of June 30, 2025, the Company had cash and cash equivalents of approximately $ million in excess of the FDIC insurance limit.

The Company’s revenues earned from sale of products and services for the three-month period ended June 30, 2025 included an aggregate of % and % from customers within the Therapeutic DNA Production Services and the DNA Tagging and Security Products and Services segments, respectively. The Company’s revenue earned from the sale of products and services for the nine-month period ended June 30, 2025 included an aggregate of % from customer within the Therapeutic DNA Production Services segment, and %, and %, from customers, respectively, within the DNA Tagging and Security Products and Services segment.

The Company’s revenues earned from sale of products and services for the three and nine-month periods ended June 30, 2024 included an aggregate of % and % from customer, respectively within the MDx Testing Services segment. The Company’s revenue earned from sale of products and services for the nine - month period ended June 30, 2024, included an aggregate of % from customer within the DNA Tagging and Security Products and Services segment. customers accounted for % of the Company’s accounts receivable at June 30, 2025 and customers accounted for % of the Company’s accounts receivable at September 30, 2024.

Warrant Liabilities

The Company evaluates its issued warrants in accordance with ASC 480 “Distinguishing Liabilities from Equity” and ASC 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity” and concluded that due to the terms of certain of its warrant agreements, the instruments do