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DHC Acquisition (DHCA) - 2024 Q1 - Quarterly Results
DHCADHC Acquisition (DHCA)2024-05-14 20:15

Financial Performance - BEN reported revenues of 49,790forQ12024,comparedto49,790 for Q1 2024, compared to 0 in Q1 2023[16] - Operating expenses for Q1 2024 totaled 6,848,553,asignificantincreasefrom6,848,553, a significant increase from 2,637,956 in Q1 2023[16] - The net loss for Q1 2024 was 6,884,409,comparedtoanetlossof6,884,409, compared to a net loss of 2,637,956 in Q1 2023, resulting in a net loss per share of 0.27[16]CashandAssets−Cashandcashequivalentsincreasedto0.27[16] Cash and Assets - Cash and cash equivalents increased to 3,304,283 as of March 31, 2024, from 1,685,013attheendof2023[15]−Totalassetsroseto1,685,013 at the end of 2023[15] - Total assets rose to 36,852,097 as of March 31, 2024, compared to 22,008,739attheendof2023[15]−Totalliabilitiesincreasedto22,008,739 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]