Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 151

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 151
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 measured based on the ratio of actual costs incurred to the total estimated costs expected upon satisfying the identified performance obligation.

Revenues are recorded proportionally as costs are incurred. For contracts where the total costs cannot be estimated, revenues are recognized for the actual costs incurred during a period until the remaining costs to complete a contract can be estimated. The Company has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less.

Disaggregation of Revenue

The following table presents revenues disaggregated by our business operations and timing of revenue recognition:

| ​                                                    | ​ |                   ​ |         ​ | ​ |    ​ |          ​ |
| ​                                                    | ​ | Fiscal Years Ended: |           |   |      |            |
| ​                                                    | ​ |       September 30, |           |   |      |            |
| ​                                                    |   |                2024 |           |   | 2023 |            |
| Research and development services (over-time)        | ​ |                   $ |   311,238 | ​ |    $ |    421,585 |
| Clinical laboratory testing services (point-in-time) | ​ |                   ​ |    32,610 | ​ |    ​ |  7,612,975 |
| Clinical laboratory services (over-time)             | ​ |                   ​ | 1,285,320 | ​ |    ​ |  3,540,456 |
| Product and authentication services (point-in-time): | ​ |                   ​ |         ​ | ​ |      |          ​ |
| Supply chain                                         | ​ |                   ​ | 1,208,696 | ​ |      |    827,603 |
| Large Scale DNA Production                           | ​ |                   ​ |   584,115 | ​ |    ​ |    653,015 |
| Asset marking                                        | ​ |                   ​ |     9,441 | ​ |      |    311,809 |
| Total                                                | ​ |                   $ | 3,431,420 | ​ |    $ | 13,367,443 |

F-9

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

Contract balances

As of September 30, 2024, the Company 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