Brand Engagement Network Inc

For the period ended Dec 31, 2023. Filed Apr 1, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 1, 2024

BNAI$4.84+7.8%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	For the Years EndedDecember 31,
	2023	2022
Cash Flows from Operating Activities:
Net (loss) income	$(6,879,994)	$7,206,713
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Interest income on investments held in Trust Account	(4,360,578)	(4,462,497)
Change in fair value of warrant liabilities	164,410	(8,135,024)
Fair value of Founder Shares assigned in connection with the non-redemption agreements	8,614,541	—
Forgiveness of deferred underwriting fee payable	(348,344)	—
Changes in operating assets and liabilities:
Due from Sponsor	(1,500)	(1,500)
Prepaid expenses	59,863	327,136
Accounts payable and accrued expenses	1,929,161	4,416,306
Net cash used in operating activities	(822,441)	(648,866)
Cash Flows from Investing Activities:
Cash withdrawn from Trust Account in connection with redemption	296,233,702	—
Trust receivable	(16,824)	—
Net cash provided by investing activities	296,216,878	—
Cash Flows from Financing Activities:
Advances from related party	650,000	—
Redemption of ordinary shares	(296,216,878)	—
Net cash used in financing activities	(295,566,878)	—
Net change in cash	(172,441)	(648,866)
Cash – Beginning of year	212,608	861,474
Cash – End of year	$40,167	$212,608
Non-cash investing and financing activities:
Forgiveness of deferred underwriting fee payable	$(10,049,200)	$—

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