Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 152

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 152
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 satisfies the related performance obligations under the terms of the contract. The Company’s contract liabilities, which are reported as deferred revenue on the consolidated balance sheet, consist almost entirely of research and development contracts where consideration has been received and the development services have not yet been fully performed.

The opening and closing balances of the Company’s contract balances are as follows:

| ​                    | ​ | ​                            | ​ |          ​ |       ​ | ​ |             ​ |       ​ | ​ | ​      |      ​ |
|:---------------------|:--|:-----------------------------|:--|-----------:|--------:|:--|--------------:|--------:|:--|:-------|-------:|
| ​                    |   | ​                            |   | October 1, |         |   | September 30, |         |   | $      |        |
| ​                    |   | Balance sheet classification |   |       2023 |         |   |          2024 |         |   | change |        |
| Contract liabilities |   | Deferred revenue             | ​ |          $ | 270,435 | ​ |             $ | 252,785 | ​ | $      | 17,650 |

| ​                    | ​ | ​                            | ​ |          ​ |       ​ | ​ |             ​ |       ​ | ​ | ​      |       ​ |
|:---------------------|:--|:-----------------------------|:--|-----------:|--------:|:--|--------------:|--------:|:--|:-------|--------:|
| ​                    |   | ​                            |   | October 1, |         |   | September 30, |         |   | $      |         |
| ​                    |   | Balance sheet classification |   |       2022 |         |   |          2023 |         |   | change |         |
| Contract liabilities | ​ | Deferred revenue             | ​ |          $ | 563,557 | ​ |             $ | 270,435 | ​ | $      | 293,122 |

For the fiscal year ended September 30, 2024, the Company recognized $ of revenue that was included in contract liabilities as of October 1, 2023.

For the fiscal year ended September 30, 2023, the Company recognized $ of revenue that was included in contract liabilities as of October 1, 2022.

Cash, Cash Equivalents, and Restricted Cash

For the