Company: BNBX
Filing Date: 2025-06-30
Form Type: 8-K
Source: 0001104659-25-064106
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Company: BNB PLUS CORP.
Filing Date: 2025-06-30
Form: 8-K
Item: Item 2.05
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Item 2.05 Costs Associated with Exit or Disposal Activities.

On June 30, 2025, Applied DNA Sciences, Inc. (the “ Company”)
announced a strategic restructuring and realignment of resources to focus exclusively on its synthetic DNA manufacturing business, LineaRx.
As part of actions undertaken, the Company implemented a workforce reduction of approximately 27% of headcount and has ceased operations
at Applied DNA Clinical Labs (“ ADCL”), a business that provides molecular and genetic testing services, effective June
27, 2025.

The Company’s actions are intended to substantially reduce its
operating costs and concentrate resources behind LineaRx to: (i) enhance the capabilities of LineaRx’s LineaDNA™ and LineaIVT™
platforms while scaling commercial adoption; (ii) expand its service offerings; and (iii) pursue strategic partnerships. The workforce
reduction equates to a projected 23% reduction in annual payroll costs, excluding payroll expenses incurred as a result of the previously
announced retirement of the Company’s former Chairman and Chief Executive Officer. The projected annual payroll savings is expected
to be partially offset by approximately three hundred thousand dollars ($300,000) in one-time charges related to the workforce reduction
and ceasing of operations at ADCL, primarily for separation benefits. The Company expects to incur the majority of workforce reduction-related
costs by the end of the quarterly period ending September 30, 2025, excluding expenses associated with the retirement of the Company’s
former Chairman and Chief Executive Officer.

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective June 30, 2025, Judith Murrah, the Company’s Chief Executive
Officer, President and Chairperson, voluntarily agreed to a fifteen percent (15%) temporary reduction in her annual base salary in connection
with the Company’s efforts to reduce its ongoing operating expenses. Ms. Murrah’s reduced annual base salary is $340,000.
The reduction is expected to end on a future date to be agreed by and between Ms. Murrah and the Compensation Committee of the Company’s
Board of Directors.

Item 7.01 Regulation FD Disclosure.