Company: BNBX
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001104659-25-002521
Chunk: 15

Company: BNB PLUS CORP.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 15
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 via a product’s naturally 
 occurring DNA sequence for the purposes of product provenance authentication.                                                |

| · | Isotopic analysis testing                                                                                                     
 services, provided in partnership with third-party labs, use cotton’s carbon, hydrogen and oxygen elements to indicate origin 
 of its fiber through finished goods.                                                                                          |

To date, our largest commercial application for
our DNA Tagging and Security Products and Services is in the tracking and provenance authentication of cotton.

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On December 17, 2024, the Company announced it is exploring the potentialclosure or divestiture of its DNA Tagging and
Security Products and Services business segment. No assurance can be given that a closure or divestiture will be completed.

Recent Developments

Warrant Exercises

In December of 2024 and January of 2025, an
aggregate of 3,643,164 of our May 2024 Series A Warrants (as defined below) to purchase shares of our Common Stock were exercised, with
421,164 of such May 2024 Series A Warrants being exercised at a purchase price of $0.19 per share, and 3,222,000 of such May 2024 Series
A Warrants being exercised at a purchase price of $0.20 per share, for aggregate total proceeds of approximately $729,000.

Company’s Announcement of Exploration of Closure or Divestiture of Business Segment and Changes to Management Team

On December 17, 2024, that Company announced its intention to restructure its operations to prioritize itsTherapeutic DNA Production
Services and is exploring the closure or divestiture of its DNA Tagging and Security Products and Services business segment. In association
with the potential closure or divestiture, the Company is targeting a 15% reduction of its operating expenses in fiscal year 2025 as
compared to fiscal year 2024. The Company projects that these cost reductions are expected to be completed in the second quarter of fiscal
2025, ending March 31, 2025.

The Company also announced the appointment of Judith Murrah, its Chief Operating Officer, Chief Information Officer and Secretary
as President of the Company, effective December 13, 2024. Ms. Murrah assumes the role of President from Dr. James Hayward, the Company’s
Chief Executive Officer and Chairman of the Board of Directors, who voluntarily resigned as President, effective December 13, 2024. Dr.
Hayward