Company: BNBX
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001104659-25-002521
Chunk: 16

Company: BNB PLUS CORP.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 16
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 will continue in his roles as Chief Executive Officer and Chairman of the Board of Directors.

Additionally, the Company announced the appointment
of Clay Shorrock, the Company’s current Chief Legal Officer and Executive Director of Business Development, as President of LRx,
the Company’s 98% owned subsidiary, effective December 13, 2024.

Nasdaq Minimum Bid Price Requirement Deficiency Notification

On November 12, 2024, the Company received
written notice (the “Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”)
notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for
continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum
bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement
exists if the deficiency continues for a period of thirty (30) consecutive business days (collectively, the “Bid Price Rule”).
Based on the closing bid price of the Company’s Common Stock for the thirty-one (31) consecutive business days from September 27,
2024 to November 11, 2024, the Company no longer meets the requirements of the Bid Price Rule.

The Notification Letter does not impact the Company’s
listing on The Nasdaq Capital Market at this time. The Notification Letter states that the Company has 180 calendar days, or until May 12,
2025, to regain compliance with the Bid Price Rule. To regain compliance, the bid price of the Company’s Common Stock must have
a closing bid price of at least $1.00 per share for a minimum of ten (10) consecutive business days, with a longer period potentially
required by the staff of Nasdaq (the “Staff”). If the Company does not regain compliance with the Bid Price Rule by
May 12, 2025, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be
required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for
The Nasdaq Capital Market, with the exception of the Bid Price Rule, and would need to provide written notice of its intention to cure
the deficiency during the second compliance period, by effecting a