Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the annual period ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-40130 _________________________ Brand Engagement Network Inc. (Exact name of registrant a ...

Financial Performance - Brand Engagement Network Inc. reported financial results for Q4 and the full year 2024 on March 27, 2025[4] - The company achieved a revenue of $XX million for the year ended December 31, 2024, representing a YY% increase compared to the previous year[4] - User data indicated an increase in active users by ZZ% year-over-year, reaching a total of AA million active users[4] Future Projections - The company provided guidance for 2025, projecting revenue growth of BB% and aiming for a target revenue of $CC million[4] - New product launches are expected to contribute significantly to revenue, with an estimated impact of $DD million in the first half of 2025[4] Investment and Development - The company is investing in new technology development, allocating $EE million towards R&D initiatives in 2025[4] Market Expansion - Market expansion efforts include entering two new geographic regions, projected to increase market share by FF%[4] - The company is exploring potential acquisition opportunities to enhance its product offerings and market presence[4] Strategic Partnerships - Strategic partnerships are being formed to leverage synergies and drive growth, with an expected contribution of $GG million in revenue[4] Operational Efficiency - The company remains committed to improving operational efficiency, targeting a reduction in costs by HH% over the next fiscal year[4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-40130 ________________________ ...

Exhibit 99.1 BEN Reports Third Quarter 2024 Financial Results JACKSON, Wyo., Nov. 14, 2024 – Brand Engagement Network Inc. ("BEN") (Nasdaq: BNAI), a global leader in secure and reliable conversational AI solutions, today announced its financial results and key business highlights for the third quarter ended September 30, 2024. "In the third quarter, we made significant progress in delivering secure, scalable AI solutions and advancing our mission to transform industries with intelligent technology," said Pa ...

Exhibit 99.1 BEN Reports Second Quarter 2024 Financial Results JACKSON, WY – August 14, 2024 – Brand Engagement Network Inc. ("BEN") (Nasdaq: BNAI), an emerging provider of safe and secure customer engagement AI, today announced its financial results and key business highlights for the second quarter ended June 30, 2024. "In the second quarter, we made continued progress on market validation initiatives, with meaningful acceleration in new proof of concepts" said Paul Chang, Co-CEO of BEN. "Looking to the s ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-40130 _________________________ Bra ...

(Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-40130 _________________________ Brand Engagement Network Inc. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ________________________ ...

Financial Performance - BEN reported revenues of $49,790 for Q1 2024, compared to $0 in Q1 2023[16] - Operating expenses for Q1 2024 totaled $6,848,553, a significant increase from $2,637,956 in Q1 2023[16] - The net loss for Q1 2024 was $6,884,409, compared to a net loss of $2,637,956 in Q1 2023, resulting in a net loss per share of $0.27[16] Cash and Assets - Cash and cash equivalents increased to $3,304,283 as of March 31, 2024, from $1,685,013 at the end of 2023[15] - Total assets rose to $36,852,097 as of March 31, 2024, compared to $22,008,739 at the end of 2023[15] - Total liabilities increased to $16,249,572 as of March 31, 2024, up from $4,314,286 at the end of 2023[15] Business Developments - The company launched BENAuto in partnership with AFG Companies, providing unique AI Assistants for automotive use cases[10] - BEN announced a pilot partnership with MedAdvisor Solutions to enhance patient outcomes using its AI Assistant technology[10] - The company strengthened its Board of Directors with new appointments, including Janine Grasso and Jon Liebowitz[10] - BEN completed its business combination with DHC Acquisition Corp. and began trading on Nasdaq under the symbol "BNAI"[10]

Revenue Generation and Market Potential - The company generated minimal revenue in 2022, primarily from beta testing discontinued products, with the first customer acquired in the healthcare industry in November 2023[28]. - The total addressable market for the generative AI industry is estimated to exceed $10 billion, projected to grow to $30 billion by 2030[39]. - The total addressable market (TAM) is projected to reach approximately $30 billion by 2028, with substantial opportunities for expansion into retail, hospitality, and other sectors[65]. - The healthcare vertical consists of over 145,000 organizations, with 25% of U.S. healthcare expenditure wasted on administrative complexity, highlighting significant market opportunities[59]. - The automotive industry has over 450,000 organizations globally, with a fragmented market that presents opportunities for the company's platform to address data disparity and slow technology adoption[61]. - The financial services sector includes over 227,000 organizations, with 54% of insurance companies having not upgraded their legacy systems, indicating a demand for modern solutions[62]. Product Development and Technology - The company completed the acquisition of DM Lab Co., LTD. in 2023, acquiring its first AI assistant prototype[26]. - The AI assistants are designed to enhance customer engagement in automotive and healthcare sectors, with specific use cases including service and sales assistants[41]. - The company’s AI assistants utilize proprietary natural language processing and anomaly detection to provide personalized customer experiences[25]. - The company aims to deploy AI assistants within a few days, significantly reducing the traditional deployment time of years[36]. - The company plans to offer products in three tiers based on integration levels and customer needs, enhancing customization and engagement[63]. Customer Engagement and Sales Strategy - The company aims to broaden its customer base by leveraging both direct sales and channel partners, with long-term agreements with industry leaders like AFG Companies, Inc. to streamline access to new customers[55]. - 94% of large companies anticipate integrating voice AI within the next two years, indicating a growing acceptance of AI technologies[40]. - Customer retention and subscription renewals are critical for revenue growth, with potential fluctuations due to various external factors[116]. - The company plans to invest significantly in sales and marketing initiatives to enhance customer support and drive revenue growth[131]. Financial Performance and Risks - The company incurred a net loss of approximately $11.7 million for the year ended December 31, 2023, resulting in an accumulated deficit of $13.3 million[94]. - The company anticipates that its operating expenses will increase substantially in the foreseeable future as it continues to enhance offerings and expand its customer base[94]. - The company expects to depend on a limited number of customers for a substantial portion of future revenues, which poses a risk if any significant customer is lost[95]. - The total addressable market for the company's products may be significantly smaller than estimated, impacting growth potential[96]. - The company believes its existing cash and cash equivalents will be insufficient to meet anticipated cash requirements for at least the next 12 months, necessitating additional financing[98]. Internal Controls and Compliance - The company has identified material weaknesses in its internal control over financial reporting, which could affect the accuracy of financial statements[103]. - The company has a history of losses and may not achieve consistent profitability, which could adversely affect its financial condition[94]. - The company has identified significant deficiencies in internal control over financial reporting, which could lead to material misstatements in financial statements[107]. - Remediation efforts initiated in 2023 include hiring a Chief Financial Officer and engaging third-party professionals for complex accounting matters[108]. - As of the current date, material weaknesses and significant deficiencies have not been remediated, raising concerns about the reliability of financial reporting[109]. Competition and Market Position - The company faces intense competition and may lack sufficient resources to maintain or improve its competitive position[91]. - The company faces intense competition from established players with greater resources, which may impact its market position and growth rate[124]. - The company may need to invest in new technologies and products to remain competitive, which could divert management's attention and resources[91]. Regulatory and Legal Challenges - The regulatory environment for artificial intelligence is rapidly evolving, with potential compliance costs impacting the company's operations[75]. - The company may be involved in legal and regulatory inquiries, with unfavorable outcomes potentially impacting financial conditions and operational results[157]. - The increasing focus on AI technologies has led to regulatory restrictions that may impact the company's product and service offerings, potentially limiting customer access and negatively affecting financial results[155]. - Management faces challenges in adapting to changing regulatory requirements, which could harm the company's competitive position in the long term[156]. Cybersecurity and Data Privacy - Cybersecurity threats, including ransomware attacks, pose significant risks to the company's operations and sensitive data, with potential for reputational harm and financial loss[187]. - The company relies on third-party service providers for critical business systems, which may introduce additional cybersecurity vulnerabilities[197]. - The company is committed to enhancing its threat detection and mitigation processes to address evolving cybersecurity threats[191]. - The company is subject to stringent U.S. and foreign data privacy and security laws, which could lead to regulatory investigations, fines, and reputational harm if not complied with[200]. Intellectual Property - The company holds 21 issued patents and has 19 pending patent applications, indicating a strong focus on intellectual property development[72]. - The company faces risks related to intellectual property, including potential litigation costs and the impact of unauthorized use of proprietary technology[172]. - Unauthorized use of proprietary technology could adversely affect the company's competitive position and financial results[175]. Brand and Market Perception - The company emphasizes the importance of growing and enhancing its brand identity in the competitive conversational AI market, as failure to do so could adversely affect customer and investor relationships[136]. - The benefits of the company's products have not been substantiated through long-term trials, which could lead to customer dissatisfaction and harm to the brand if expectations are not met[144].

DHC Acquisition (NASDAQ:DHCA) stock is falling hard on Monday as the special purpose acquisition company (SPAC) closes in on its merger with Brand Engagement Network. The big news here is that investors in DHCA stock voted in favor of the SPAC merger with Brand Engagement Network during an extraordinary general meeting last week. That news puts DHC Acquisition one step closer to completing its SPAC merger with Brand Engagement Network. This has the companies preparing a filing with the Securities and Exchan ...