BNB Plus Corp 2026年季度报告

BNB Plus Corp. and Subsidiaries Form 10-Q for the Quarter Ended December 31, 2025Table of ContentsPagePART I - FINANCIAL INFORMATIONItem 1 - Condensed Consolidated Financial Statements (unaudited)1Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations23Item 3 - Quantitative and Qualitative Disclosures About Market Risk31Item 4 - Controls and Procedures31PART II - OTHER INFORMATIONItem 1A – Risk Factors32Item 6 – Exhibits32 PartI- Financial Information BNB PLUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY Table of Contents BNB PLUS CORP. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2025 NOTEA— NATURE OF THE BUSINESS BNB Plus Corp. (formerly Applied DNA Sciences, Inc.) (the “Company”) is a digital asset treasury (“DAT”) companythat has adopted BNB, the native cryptocurrency of the Binance blockchain ecosystem as its primary reserve asset. Byusing proceeds from financings, as well as potential cashflow from the Company’s operations, the Company seeks tostrategically accumulate BNB and utilize the accumulated BNB as a productive treasury asset to produce yield via In addition, via the Company’s LineaRx, Inc. subsidiary (“LineaRx”), it is commercializing proprietary nucleic acidproduction solutions for the biopharmaceutical and diagnostics markets. The Company’s nucleic acid productionsolutions enable cell-free manufacturing of deoxyribonucleic acid (“DNA”) and ribonucleic acid (“RNA”), which are Historically, the Company has operated in two additional business markets: (i) the manufacture and detection of DNAfor industrial supply chains and security services (“DNA Tagging and Security Products and Services”), which theCompany is in the process of winding down; and (ii) the detection of DNA and RNA in molecular diagnostics and On September 16, 2002, the Company was incorporated under the laws of the State of Nevada. Effective December2008, the Company reincorporated from the State of Nevada to the State of Delaware. Company Restructuring and Stock Splits On October 6, 2025, the Company’s Board of Directors authorized, and its officers implemented, a restructuring planpursuant to which the Company reduced overall operating expenses to focus resources on its BNB Strategy. Therestructuring plan included a reduction of the Company’s workforce by sixteen (16) employees, or approximately 60%.The Company incurred aggregate pre-tax charges in connection with the reduction-in-force, primarily consisting of On March 13, 2025, the Company filed with the Secretary of State of the State of Delaware a Certificate ofAmendment of its Certificate of Incorporation that effected a one-for-fifty (1:50) reverse stock split of its commonstock, effective at 12:01 a.m. Eastern Time on March 14, 2025 (the “March 2025 Reverse Split”). In addition, on June1, 2025, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment of its All warrant, option, share, and per share information in the Form 10-Q gives retroactive effect to the 2025 ReverseSplits. NOTE B — BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES Interim Financial Statements The accompanying condensed consolidated financial statements as of December 31, 2025, and for the three-monthsended December 31, 2025, and 2024 are unaudited. These unaudited condensed consolidated financial statements havebeen prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interimfinancial information and are presented in accordance with the requirements of Regulation S-X of the Securities and Table of Contents BNB PLUS CORP. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2025 NOTE B — BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES, continued Interim Financial Statements continued In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fairpresentation have been included. Operating results for the three-months ended December 31, 2025 are not necessarilyindicative of the results that may be expected for the fiscal year ending September 30, 2026. The unaudited condensedconsolidated financial statements should be read in conjunction with the audited consolidated financial statements asof and for the fiscal year ended September 30, 2025 and footnotes thereto included in the Annual Report on Form 10-K Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly ownedsubsidiaries, APDN (B.V.I.) Inc., Applied DNA Sciences India Private Limited (which currently has no operations),Applied DNA Clinical Labs, LLC (“ADCL”) (see Discontinued Operations below), Spindle Biotech, Inc., AppliedDNA Sciences Europe Limited (which currently has no operations) and its majority-owned subsidiary, LineaRx, Inc. On Octobe