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]
DHC Acquisition (DHCA) - 2024 Q1 - Quarterly Results