2024 Q4 Form 10-Q Financial Statement

#000183816324000016 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $50.00K $0.00
YoY Change
Cost Of Revenue $0.00 $0.00
YoY Change
Gross Profit $50.00K $0.00
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $153.2K $75.45K
YoY Change 103.04%
% of Gross Profit 306.38%
Depreciation & Amortization $972.4K $209.7K
YoY Change 363.63%
% of Gross Profit 1944.75%
Operating Expenses $5.330M $1.620M
YoY Change 228.98% -38.17%
Operating Profit -$5.280M -$1.624M
YoY Change 225.05% -38.01%
Interest Expense $570.0K
YoY Change -59.19%
% of Operating Profit
Other Income/Expense, Net -$543.6K $34.32K
YoY Change -1684.06% -96.4%
Pretax Income -$5.823M -$1.590M
YoY Change 266.23% -4.55%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.823M -$1.590M
YoY Change 266.25% -4.55%
Net Earnings / Revenue -11646.17%
Basic Earnings Per Share -$0.16 -$0.12
Diluted Earnings Per Share -$0.16 -$0.13
COMMON SHARES
Basic Shares Outstanding 37.93M shares 35.96M shares 22.41M shares
Diluted Shares Outstanding 35.54M shares 22.41M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K
YoY Change -71.38%
Cash & Equivalents $72.88K $60.85K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables $30.89K
Other Receivables $3.000K
Total Short-Term Assets $1.182M $86.34K
YoY Change 1268.84% -91.67%
LONG-TERM ASSETS
Property, Plant & Equipment $285.3K
YoY Change
Goodwill
YoY Change
Intangibles $17.01M
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.48M $49.20M
YoY Change -72.61% -84.2%
Total Long-Term Assets $30.77M $49.20M
YoY Change -37.46% -84.2%
TOTAL ASSETS
Total Short-Term Assets $1.182M $86.34K
Total Long-Term Assets $30.77M $49.20M
Total Assets $31.95M $49.28M
YoY Change -35.17% -84.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.376M $7.200M
YoY Change -25.33% 33.88%
Accrued Expenses $4.185M
YoY Change
Deferred Revenue $0.00
YoY Change
Short-Term Debt $892.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.05M $7.737M
YoY Change 68.62% 43.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $12.10M
YoY Change -3.01%
Total Long-Term Liabilities $12.10M
YoY Change -3.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.05M $7.737M
Total Long-Term Liabilities $12.10M
Total Liabilities $14.20M $19.88M
YoY Change -28.6% 11.37%
SHAREHOLDERS EQUITY
Retained Earnings -$29.06M -$19.80M
YoY Change 46.78% 17.73%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.75M -$19.80M
YoY Change
Total Liabilities & Shareholders Equity $31.95M $49.28M
YoY Change -35.17% -84.22%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$5.823M -$1.590M
YoY Change 266.25% -4.55%
Depreciation, Depletion And Amortization $972.4K $209.7K
YoY Change 363.63%
Cash From Operating Activities -$250.0K
YoY Change 344.84%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 280.0K
YoY Change
NET CHANGE
Cash From Operating Activities -250.0K
Cash From Investing Activities 0.000
Cash From Financing Activities 280.0K
Net Change In Cash 30.00K
YoY Change -153.38%
FREE CASH FLOW
Cash From Operating Activities -$250.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity File Number
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Brand Engagement Network Inc.
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dei Entity Tax Identification Number
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145 E. Snow King Ave
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<div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the Company’s consolidated financial statements include, but are not limited to, assumptions used to measure stock-based compensation, valuation of the intangible assets acquired from DM Lab (see Note D), useful lives of intangible assets, warrant liabilities,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">derivative liabilities, and deferred customer acquisition costs.</span></div><div style="margin-top:12pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.</span></div>
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CY2024Q3 bnai Share Based Compensation Arrangement By Share Based Payment Award Options Aggregate Intrinsic Value Outstanding
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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R56.htm Edgar Link pending
R6.htm Edgar Link pending
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R9.htm Edgar Link pending
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bnai-20240930_cal.xml Edgar Link unprocessable