STOCK REPURCHASE PROGRAM

12 Months Ended

Apr. 30, 2025

STOCK REPURCHASE PROGRAM:

In December 2016, the Board of Directors approved a common stock repurchase program. The program was established for the purpose of enabling BNC to flexibly repurchase its own shares in consideration of factors such as opportunities for strategic investment, BNC's financial condition and the price of its common stock as part of improving capital efficiency. In July 2023, the Board of Directors approved an increase in the size of the Company's common stock repurchase program from $4 million to $9 million. In October 2024, the Board of Directors approved an increase in the size of the Company's common stock repurchase program from $9 million to $11 million. In June 2025, the Board of Directors approved an increase in the size of the Company's common stock repurchase program from $11 million to $15 million. The program is currently authorized through April 15, 2027. The total remaining authorization for future common stock repurchases under our share repurchase program was $2.3 million as of April 30, 2025.

The table below provides information with respect to common stock purchases by the Company during the year ended April 30, 2025.


Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
Shares purchased in prior periods (a)	3,979,522	$	0.42	3,379,522	$	7,594
Quarter ended July 31, 2023 (b)	6,863,789	$	0.73	6,863,789	$	2,560
Quarter ended October 31, 2023 (b)	2,300	$	0.73	2,300	$	2,558
Quarter ended January 31, 2024 (b)	24,744	$	0.73	24,744	$	2,540
Quarter ended April 30, 2024 (b)	5,000	$	0.79	5,000	$	2,536
Quarter ended July 31, 2024 (b)	500,000	$	0.93	500,000	$	2,071
Quarter ended October 31, 2024 (b)	683,760	$	1.31	683,760	$	1,172
Increase in program authorization October 2024	-			-	$	3,172
Quarter ended January 31, 2025 (b)	71,404	$	1.86	71,404	$	3,039
Quarter ended April 30, 2025 (b) (c)	461,299	$	1.66	461,299	$	2,274
Total	12,591,818	$	0.73	11,991,818

(a)The total number of shares purchased in prior periods includes 600,000 repurchased in the fiscal year ending April 30, 1998.

(b)These shares of common stock purchased were purchased through private transactions.

(c)The approximate dollar value of shares that may yet be purchased under the plans or programs at April 30, 2025 does not include the additional $4 million increase in the size of the Company's common stock repurchase program that the Board of Directors approved in June 2025.