Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 158

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 158
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 segment and onecustomer within the Therapeutic DNA Production Services segment, respectively. The Company’s revenues earned from the sale of products and services for the fiscal year ended September 30, 2023 included an aggregate of 65% and 14%, respectively from twocustomers within the MDx Testing Services segment. At September 30, 2024, fourcustomers accounted for 59% of the Company’s accounts receivable. At September 30, 2023, threecustomers accounted for 60% of the Company’s accounts receivable. Research and Development The Company accounts for research and development costs in accordance with the ASC 730, Research and Development (“ASC 730”). Under ASC 730, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. During the fiscal years ended September 30, 2024 and 2023, the Company incurred research and development expenses of 3,593,750and $ 3,735,078, respectively. Advertising The Company follows the policy of charging the costs of advertising to expense as incurred. The Company charged to operations $ 124,036and $ 185,115, as advertising costs for the fiscal years ended September 30, 2024 and 2023, respectively.

<div align='center'>F-13</div>

NOTE C – BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES, continued Intangible Assets The acquired technology from the Spindle Asset Purchase (see Note E) has been classified as In Process Research and Development (“IPR&D”). Intangible assets related to IPR&D are considered to be indefinite-lived until the abandonment or completion of the associated research and development efforts. Indefinite-lived intangible assets are not amortized and, instead are tested for impairment annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the assets are impaired. The Company qualitatively and quantitatively determines whether, more likely than not, the fair value exceeds the carrying amount of a reporting unit. There are numerous assumptions and estimates underlying the quantitative assessments including future earnings, long-term strategies, and the Company’s annual planning and forecasts. If these planned initiatives do not accomplish the targeted objectives, the assumptions and estimates underlying the