Company: BNBX
Filing Date: 2025-01-17
Form Type: 424B3
Source: 0001104659-25-004510
Chunk: 14

Company: BNB PLUS CORP.
Filing Date: 2025-01-17
Form: 424B3
Chunk 14
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5 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 will continue in his roles as Chief Executive Officer and Chairman of the Board of Directors.

Additionally, the Company announced the appointment
of Clay Shorrock, the Company’s current Chief Legal Officer and Executive Director of Business Development, as President of LRx,
the Company’s 98% owned subsidiary, effective December 13, 2024.

Nasdaq Minimum Bid Price Requirement Deficiency Notification

On November 12, 2024, the Company received
written notice (the “Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”)
notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for
continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum
bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement
exists if the deficiency continues for a period of thirty (30) consecutive business days (collectively, the “Bid Price Rule”).
Based on the closing bid price of the Company’s Common Stock for the thirty-one (31) consecutive business days from September 27,
2024 to November 11, 2024, the Company no longer meets the requirements of the Bid Price Rule.

The Notification Letter does not impact the Company’s
listing on The Nasdaq Capital Market at this time. The Notification Letter states that the Company has 180 calendar days, or until May 12,
2025, to regain compliance with the Bid Price Rule. To regain compliance, the bid price of the Company’s Common Stock must have
a closing bid price of at least $1.00 per share for a minimum of ten (10)