$BNAI
Brand Engagement Network Inc.

2023 Q1 Form 10-Q Financial Statement

#000119312523150671 Filed on May 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $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 $2.000K
YoY Change
% of Gross Profit
Depreciation & Amortization $19.23K
YoY Change
% of Gross Profit
Operating Expenses $314.4K $1.703M
YoY Change -81.54% 964.09%
Operating Profit -$314.4K -$1.703M
YoY Change -81.54% 964.12%
Interest Expense $2.776M $30.21K
YoY Change 9087.52%
% of Operating Profit
Other Income/Expense, Net $2.392M $4.503M
YoY Change -46.87% -462.0%
Pretax Income $2.078M $2.831M
YoY Change -26.59% -301.61%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $2.078M $2.831M
YoY Change -26.59% -301.61%
Net Earnings / Revenue
Basic Earnings Per Share -$0.15
Diluted Earnings Per Share $0.06 $73.18K
COMMON SHARES
Basic Shares Outstanding 17.13M shares
Diluted Shares Outstanding 17.13M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.4K $668.7K
YoY Change -77.07% -57.51%
Cash & Equivalents $153.3K $668.7K
Short-Term Investments
Other Short-Term Assets $54.00K $373.9K
YoY Change -85.56% -57.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $207.3K $1.043M
YoY Change -80.11% -57.38%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $47.22M $309.5M
YoY Change -84.74% 0.01%
Total Long-Term Assets $48.10M $309.5M
YoY Change -84.46% 0.01%
TOTAL ASSETS
Total Short-Term Assets $207.3K $1.043M
Total Long-Term Assets $48.10M $309.5M
Total Assets $48.31M $310.5M
YoY Change -84.44% -0.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.637M $2.520M
YoY Change 123.71%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.687M $2.520M
YoY Change 125.69% 3619.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.38M $14.63M
YoY Change -22.21% -47.32%
Total Long-Term Liabilities $11.38M $14.63M
YoY Change -22.21% -47.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.687M $2.520M
Total Long-Term Liabilities $11.38M $14.63M
Total Liabilities $17.07M $17.15M
YoY Change -0.48% -36.09%
SHAREHOLDERS EQUITY
Retained Earnings -$16.86M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$16.86M -$16.07M
YoY Change
Total Liabilities & Shareholders Equity $48.31M $310.5M
YoY Change -84.44% -0.44%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $2.078M $2.831M
YoY Change -26.59% -301.61%
Depreciation, Depletion And Amortization $19.23K
YoY Change
Cash From Operating Activities -$109.3K -$192.8K
YoY Change -43.33% -79.81%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $268.6M $0.00
YoY Change -100.0%
Cash From Investing Activities $268.6M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $268.6M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -268.6M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -109.3K -192.8K
Cash From Investing Activities 268.6M 0.000
Cash From Financing Activities -268.6M 0.000
Net Change In Cash -109.3K -192.8K
YoY Change -43.33% -112.25%
FREE CASH FLOW
Cash From Operating Activities -$109.3K -$192.8K
Capital Expenditures $0.00
Free Cash Flow -$109.3K
YoY Change

Facts In Submission

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<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;;text-indent: 0px;"><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;">Use of Estimates </div></div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. </div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to </div></div>one or more future confirming events<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">. </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">One of the more significant accounting estimates included in these unaudited condensed consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates. </div></div></div> <div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/>
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<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 18pt; 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="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"> </div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">The Company has historically had significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $</div></div>250,000<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</div></div>
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PreferredStockSharesIssued
0
CY2023Q1 dhcau Number Of Days After Consummation Of Business Combination Within Which Securities Registration Shall Become Effective
NumberOfDaysAfterConsummationOfBusinessCombinationWithinWhichSecuritiesRegistrationShallBecomeEffective
P60D
CY2022Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
313913217

Files In Submission

Name View Source Status
0001193125-23-150671-index-headers.html Edgar Link pending
0001193125-23-150671-index.html Edgar Link pending
0001193125-23-150671.txt Edgar Link pending
0001193125-23-150671-xbrl.zip Edgar Link pending
d419340d10q.htm Edgar Link pending
d419340d10q_htm.xml Edgar Link completed
d419340dex311.htm Edgar Link pending
d419340dex312.htm Edgar Link pending
d419340dex321.htm Edgar Link pending
d419340dex322.htm Edgar Link pending
dhcau-20230331.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
dhcau-20230331_cal.xml Edgar Link unprocessable
dhcau-20230331_def.xml Edgar Link unprocessable
dhcau-20230331_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
dhcau-20230331_pre.xml Edgar Link unprocessable