$BNAI
Brand Engagement Network Inc.

2022 Q2 Form 10-Q Financial Statement

#000119312522220191 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $243.6K $1.703M $851.1K
YoY Change -67.64% 964.09%
Operating Profit -$243.6K -$1.703M
YoY Change -67.64% 964.12%
Interest Expense $417.9K $30.21K
YoY Change
% of Operating Profit
Other Income/Expense, Net $3.012M $4.503M $3.209M
YoY Change 2820.24% -462.0%
Pretax Income $2.769M $2.831M $2.358M
YoY Change -526.31% -301.61%
Income Tax
% Of Pretax Income
Net Earnings $2.769M $2.831M $2.358M
YoY Change -526.31% -301.61%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $71.58K $73.18K $60.87K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $405.7K $668.7K $861.5K
YoY Change -62.48% -57.51%
Cash & Equivalents $405.6K $668.7K $861.5K
Short-Term Investments
Other Short-Term Assets $270.7K $373.9K $388.7K
YoY Change -63.66% -57.14%
Inventory
Prepaid Expenses $269.2K $388.7K
Receivables
Other Receivables
Total Short-Term Assets $676.3K $1.043M $1.250M
YoY Change -62.96% -57.38%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $309.9M $309.5M $309.5M
YoY Change 0.14% 0.01%
Total Long-Term Assets $309.9M $309.5M $309.5M
YoY Change 0.14% 0.01%
TOTAL ASSETS
Total Short-Term Assets $676.3K $1.043M $1.250M
Total Long-Term Assets $309.9M $309.5M $309.5M
Total Assets $310.6M $310.5M $310.7M
YoY Change -0.23% -0.44% 434167.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.397M $2.520M $1.025M
YoY Change
Accrued Expenses $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.397M $2.520M $1.025M
YoY Change 1097.45% 3619.92% 1887.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.03M $14.63M $19.13M
YoY Change -56.5% -47.32%
Total Long-Term Liabilities $12.03M $14.63M $19.13M
YoY Change -56.5% -47.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.397M $2.520M $1.025M
Total Long-Term Liabilities $12.03M $14.63M $19.13M
Total Liabilities $14.43M $17.15M $20.15M
YoY Change -48.21% -36.09% 39000.68%
SHAREHOLDERS EQUITY
Retained Earnings -$13.75M -$18.91M
YoY Change 378009.4%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.75M -$16.07M -$18.90M
YoY Change
Total Liabilities & Shareholders Equity $310.6M $310.5M $310.7M
YoY Change -0.23% -0.44% 434167.27%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $2.769M $2.831M $2.358M
YoY Change -526.31% -301.61%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$263.0K -$192.8K $5.320K
YoY Change -57.33% -79.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 -123.8K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -263.0K -192.8K 5.320K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 0.000 -123.8K
Net Change In Cash -263.0K -192.8K -118.5K
YoY Change -46.61% -112.25%
FREE CASH FLOW
Cash From Operating Activities -$263.0K -$192.8K $5.320K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div></div></div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on these accounts, and management believes the Company is not exposed to significant risks on such account. </div>
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
9450720
CY2022Q2 dhcau Assets Deposited In Trust Noncurrent
AssetsDepositedInTrustNoncurrent
309450720
dhcau Number Of Days After The Completion Of The Business Combination Termination Of The Applicable Lockup Period Occurs
NumberOfDaysAfterTheCompletionOfTheBusinessCombinationTerminationOfTheApplicableLockupPeriodOccurs
P30D
CY2021Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
3554928
CY2022Q2 dhcau Deferred Underwriting Fee Payable Per Unit
DeferredUnderwritingFeePayablePerUnit
0.35
CY2022Q2 dhcau Deferred Underwriting Fee Payable Non Current
DeferredUnderwritingFeePayableNonCurrent
10830775
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
dhcau Number Of Days After Consummation Of Business Combination Within Which Securities Registration Shall Become Effective
NumberOfDaysAfterConsummationOfBusinessCombinationWithinWhichSecuritiesRegistrationShallBecomeEffective
P60D
CY2022Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
309898791
CY2021Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
309450720

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