BNB Plus faces Nasdaq delisting determination, moves to OTCQB pending appeal

BNB Plus Corp., formerly Applied DNA Sciences, disclosed in an S-1 filing that on July 10, 2026, it received a delisting determination from the Hearing Panel of the Nasdaq Stock Market LLC as a result of non-compliance with the minimum $1.00 bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market.¹

The company has not accepted this as final. In accordance with Nasdaq Listing Rule 5820, the company requested that the Nasdaq Listing and Hearing Review Council review the Delisting Determination in light of its recently closed financing and further developments in its ongoing strategic review process.¹ If the Listing Council elects to review the matter, it may affirm, modify, reverse, or remand the Hearing Panel's decision.¹

That review request did not pause the process in the meantime. The request for Listing Council Review did not stay the Delisting Determination, and trading of the company's common stock on Nasdaq was suspended at the open of trading on July 14, 2026.¹ The company cautions that there can be no assurance that the Listing Council will grant the request for Listing Council Review, or that the review will result in the common stock resuming to be traded on the Nasdaq Capital Market.¹ The formal exchange filing has not yet occurred: in connection with the Hearing Panel's decision, Nasdaq will file a Form 25 with the SEC after applicable appeal periods have lapsed.¹

In the meantime, as a result of the suspension in trading and delisting, the company applied for its common stock to trade on the OTCQB Venture Market under its existing symbol "BNBX," and shares began trading there at the open of trading on July 14, 2026.¹