Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 189

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 189
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115,286 |
| Contract liabilities |   | Deferred revenue             | ​ |          $ | 270,435 | ​ |             $ | 252,785 | ​ | $      | -17,650 |

For the three and nine-month periods ended June 30, 2025, the Company recognized $ and $, respectively, of revenue that was included in contract liabilities as of October 1, 2024.

Cash, Cash Equivalents, and Restricted Cash

For the purpose of the accompanying condensed consolidated financial statements, all highly liquid investments with a maturity of three months or less from when purchased are considered to be cash equivalents. The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts shown in the statement of cash flows.

| ​                                                
 ​                                                | ​ 
 ​ 
 ​ | ​    
 2025 |         ​ 
  June 30, | ​ 
 ​ | ​    
 2024 |             ​ 
 September 30, |
|:-------------------------------------------------|:--|:-----|----------:|:--|:-----|--------------:|
| Cash and cash equivalents                        | ​ | $    | 4,727,677 | ​ | $    |     5,852,363 |
| Restricted cash                                  | ​ |      |   750,000 | ​ |      |       750,000 |
| Total cash, cash equivalents and restricted cash | ​ | $    | 5,477,677 | ​ | $    |     6,602,363 |

Inventories

Inventories, which consist primarily of raw materials, work in progress and finished goods, are stated at the lower of cost or net realizable value, with cost determined by using the first-in, first-out (FIFO) method.

F-38

NOTE B — BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES, continued

Net Loss Per Share

The Company presents loss per share utilizing a dual presentation of basic and diluted loss per share. Basic loss per share includes no dilution and has been calculated based upon the weighted average number of common shares outstanding during the period. Dilutive common stock equivalents consist of shares issuable upon the exercise of the Company’s stock options, restricted stock units and warrants.

Securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive for the three and nine-month periods ended