$BNBX

APPLIED DNA SCIENCES INC

CIK:0000744452|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 605,306	$ 304,393	$ 2,194,811	$ 1,937,506
Cost of product revenues	158,184	299,263	605,546	930,619
Gross profit	447,122	5,130	1,589,265	1,006,887
Operating expenses:
Selling, general and administrative	2,139,964	2,930,627	18,080,121	8,423,602
Realized gain on derivative written call options	(40,272)		(61,845)
Loss from change in fair value of digital assets	502,687		4,321,591
Loss from fair value measurement of investment in digital asset trust	875,632		6,908,440
Research and development	209,830	768,563	1,040,541	2,632,931
Total operating expenses	3,687,841	3,699,190	30,288,848	11,056,533
LOSS FROM OPERATIONS	(3,240,719)	(3,694,060)	(28,699,583)	(10,049,646)
Other (expense) income:
Interest income	793	40,267	13,697	168,762
Warrant inducement expense	(1,439,652)		(1,439,652)
Unrealized gain on change in fair value of warrants classified as a liability		6,410	370	318,840
Other (expense) income, net		(531)	174,249	(23,778)
Loss before provision for income taxes	(4,679,578)	(3,647,914)	(29,950,919)	(9,585,822)
Income tax provision benefit
Net loss from continuing operations	(4,679,578)	(3,647,914)	(29,950,919)	(9,585,822)
Net loss from discontinued operations, net of tax		(336,195)		(403,120)
NET LOSS	(4,679,578)	(3,984,109)	(29,950,919)	(9,988,942)
Less: Net (income) loss attributable to noncontrolling interest	(6,727)	38,746	5,824	99,992
NET LOSS attributable to BNB Plus Corp.	(4,686,305)	(3,945,363)	(29,945,095)	(9,888,950)
Deemed dividend related to warrant modifications	(43,944)	(15,500,244)	(76,771)	(54,326,896)
Cumulative dividends on Series B-1 and B-2 preferred stock	(19,634)		(19,634)
NET LOSS attributable to common stockholders	$ (4,749,883)	$ (19,445,607)	$ (30,041,500)	$ (64,215,846)
Net loss per share attributable to common stockholders from continuing operations - basic (in dollars per share)	$ (0.57)	$ (33.41)	$ (4.3)	$ (255.14)
Net loss per share attributable to common stockholders from continuing operations - diluted (in dollars per share)	(0.57)	(33.41)	(4.3)	(255.14)
Net loss per share attributable to common stockholders from discontinued operations - basic (in dollars per share)		(0.59)		(1.61)
Net loss per share attributable to common stockholders from discontinued operations - diluted (in dollars per share)		(0.59)		(1.61)
Net loss per share attributable to common stockholders - basic (in dollars per share)	(0.57)	(34)	(4.3)	(256.75)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.57)	$ (34)	$ (4.3)	$ (256.75)
Weighted average shares outstanding- basic (in shares)	8,365,055	572,018	6,980,911	250,107
Weighted average shares outstanding- diluted (in shares)	8,365,055	572,018	6,980,911	250,107
Product revenues
Revenues
Total revenues	$ 585,551	$ 195,262	$ 2,148,547	$ 1,239,747
Service revenues
Revenues
Total revenues	$ 19,755	$ 109,131	$ 46,264	$ 697,759

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025
Cash flows from operating activities:
Net loss	$ (4,679,578)	$ (18,606,182)	$ (3,984,109)	$ (2,668,713)	$ (29,950,919)	$ (9,988,942)
Net loss from discontinued operations			(336,195)			(403,120)
Net loss from continuing operations	(4,679,578)		(3,647,914)		(29,950,919)	(9,585,822)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities from continuing operations:
Depreciation and amortization					98,510	255,601
Loss on write-off of property and equipment						5,212
Pre-funded warrants issued in May 2026 PIPE					1,059,604
Warrant inducement expense	1,439,652				1,439,652
Unrealized gain on change in fair value of warrants classified as a liability			(6,410)		(370)	(318,840)
Loss from change in fair value of digital assets	502,687				4,321,591
Loss from fair value measurement of investment in digital asset trust	875,632				6,908,440
USDC earned for covered call options					(61,845)
Digital assets earned					(3,010)
Warrants issued to consultants					8,826,154
Stock-based compensation					1,195,141	80,373
Bad debt expense						5,423
Change in operating assets and liabilities:
Accounts receivable					192,580	33,782
Inventories					57,091	94,002
Prepaid expenses, other current assets and deposits					(1,312,588)	417,738
Accounts payable and accrued liabilities					(1,339,191)	(172,657)
Deferred revenue					(8,513)	43,500
Net cash used in operating activities from continuing operations					(8,577,673)	(9,141,688)
Cash flows from investing activities:
Purchase of digital assets					(2,993,501)
Purchase of property and equipment						(313,121)
Net cash used in investing activities from continuing operations					(2,993,501)	(313,121)
Cash flows from financing activities:
Net proceeds from exercise of warrants					731,764	2,215,828
Capitalized offering costs					(296,827)
Net proceeds from common stock sold on ATM					847,944
Net proceeds from issuance of Convertible preferred stock and pre-funded warrants					3,016,677
Net proceeds from issuance of common stock and pre-funded warrants					8,608,327	5,712,700
Net cash provided by financing activities from continuing operations					12,907,885	7,928,528
CASH FLOWS FROM DISCONTINUED OPERATIONS
Cash provided by operating activities					0	(185,679)
Cash provided by investing activities					0	21,000
Net provided by discontinued operations					0	(164,679)
Net increase (decrease) in cash, cash equivalents and restricted cash					1,336,711	(1,690,960)
Cash, cash equivalents and restricted cash at beginning of period		$ 2,424,771		$ 7,181,095	2,424,771	7,181,095	$ 7,181,095
Cash, cash equivalents and restricted cash at end of period	3,761,482		5,490,135		3,761,482	5,490,135	2,424,771
Less: cash and cash equivalents of discontinued operations			(12,458)			(12,458)
Cash, cash equivalents and restricted cash of continuing operations at end of period	3,761,482		$ 5,477,677		3,761,482	5,477,677	$ 2,417,800
Non-cash investing and financing activities:
Deemed dividend warrant modifications					76,771	54,326,896
Deferred offering costs reclassified to additional paid in capital					1,010,070
Reclassification of digital assets to receivable					3,712,404
Shares issued upon restricted stock vesting					200
Purchase of BNB tokens with USDC					(5,869,873)
Dividends included in accounts payable	$ (19,634)				(19,634)
Warrants exercised, cashlessly					1,447	$ 610
ONBC Trust Units
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities from continuing operations:
Loss from fair value measurement of investment in digital asset trust					6,908,440
Non-cash investing and financing activities:
Proceeds received in private placement					11,434,720
USDC
Non-cash investing and financing activities:
Proceeds received in private placement					$ 5,869,873

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 3,761,482	$ 1,667,800
Accounts receivable, net of allowance for credit losses of $0 at June 30, 2026 and September 30, 2025	44,820	237,400
Inventories	27,011	84,102
Prepaid expenses and other current assets (related party amounts of $300,000 and $0 are included at June 30, 2026 and September 30, 2025, respectively)	1,619,563	242,153
Current assets of discontinued operations		6,971
Total current assets	5,452,876	2,238,426
Property and equipment, net	144,210	242,720
Other assets:
Restricted cash		750,000
Security deposit		2,977
Digital assets	1,202,024
Digital asset receivable -from custodian	3,342,769
Investment in digital asset trust	4,526,280
Operating right of use asset		193,249
Deferred offering costs	296,826	1,010,069
Total assets	14,964,985	4,437,441
Current liabilities:
Accounts payable and accrued liabilities (related party amounts of $90,440 and $0 are included at June 30, 2026 and September 30, 2025, respectively)	938,821	2,258,376
Operating lease liability, current		193,250
Deferred revenue	3,772	12,285
Total current liabilities	942,593	2,463,911
Long term accrued liabilities	31,467	31,467
Warrants classified as a liability	1,059,604	370
Total liabilities	2,033,664	2,495,748
Commitments and contingencies (Note G)
Total temporary equity	3,844,733
BNB Plus Corps. stockholders' equity:
Common stock, par value $0.001 per share; 200,000,000 shares authorized as of June 30, 2026 and September 30, 2025; 6,197,223 and 1,662,601 shares issued and outstanding as of June 30, 2026 and September 30, 2025, respectively	6,199	1,663
Additional paid in capital	418,631,508	381,463,459
Accumulated deficit	(409,182,241)	(379,160,375)
BNB Plus Corp. stockholders' equity	9,455,466	2,304,747
Noncontrolling interest	(368,878)	(363,054)
Total equity	9,086,588	1,941,693
Total liabilities and equity	14,964,985	$ 4,437,441
Series B-1 Convertible Preferred Stock
Current liabilities:
Total temporary equity	3,059,890
Series B-2 Convertible Preferred Stock
Current liabilities:
Total temporary equity	$ 784,843