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<p id="xdx_804_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_zupvEl1n7mgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS DHC Acquisition Corp (now known as Brand Engagement Network Inc.) (the “Company”) was a blank check company incorporated as a Cayman Islands exempted company on December 22, 2020. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (the “Business Combination”). The Company was not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. Business Combination On March 14, 2024 (the “Closing Date”), Brand Engagement Network Inc., a Delaware corporation f/k/a DHC Acquisition Corp (“BEN”, the “Company” and, prior to Closing, “DHC”), consummated the previously announced business combination pursuant to that certain Business Combination Agreement and Plan of Reorganization, dated as of September 7, 2023 (the “Business Combination Agreement”), by and among the Company, BEN Merger Subsidiary Corp., a Delaware corporation (“Merger Sub”), Brand Engagement Network Inc., a Wyoming corporation (“Legacy BEN”) and DHC Sponsor, LLC, a Delaware limited liability company (“Sponsor”), following approval thereof at a special meeting of the Company’s shareholders held on March 5, 2024 (the “Special Meeting”). Pursuant to the terms of the Business Combination Agreement, on March 13, 2024, the Company migrated to and domesticated as a Delaware corporation in accordance with Section 388 of the Delaware General Corporation Law, as amended, and the Companies Act (As Revised) of the Cayman Islands (the “Domestication”) and changed its name to Brand Engagement Network Inc. On March 14, 2024, the Company consummated the business combination with Brand Engagement Network Inc., a Wyoming corporation (“Legacy BEN”), which merged into the Company’s subsidiary, BEN Merger Subsidiary Corp., a Delaware corporation (“Merger Sub” and such business combination, the “Business Combination”). At the Special Meeting, the Company’s shareholders approved the Business Combination as well as other proposals related to the Business Combination. On March 14, 2024, the parties to the Business Combination Agreement completed the Business Combination. Prior to and in connection with the Special Meeting, holders of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20240314__20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zg3EB2LzPkb7" title="Stock issued during period, stock options exercised">1,949,706 shares of Class A ordinary shares of the Company exercised their right to redeem those shares for cash at a redemption price originally estimated at approximately $<span id="xdx_90C_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zcOwCyu0Yvlb" title="Temporary equity redemption price per share">10.77 per share, for an estimated aggregate redemption amount of approximately $<span id="xdx_904_eus-gaap--TemporaryEquityAccretionToRedemptionValue_pp2d_c20240314__20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zwOaxcuHA6K2" title="Accretion of carrying value to redemption value">20,998,333.62. Ultimately, on the Closing Date, holders of <span id="xdx_90F_eus-gaap--TemporaryEquitySharesIssued_iI_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z1FPMGeQasU5" title="Temporary equity shares issued">1,908,504 shares of Class A ordinary shares of DHC redeemed those shares for cash at a redemption price at approximately $<span id="xdx_906_eus-gaap--TemporaryEquityParOrStatedValuePerShare_iI_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z3rhMip2cnJ2" title="Ordinary shares subject to possible redemption par value">10.80 per share, for an aggregate redemption amount of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iI_c20240314__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zI4owh0sLBK3" title="Temporary equity, par value">20,612,041, which was paid out of the trust account established in connection with DHC’s initial public offering following the Closing. As of the open of trading on March 15, 2024, the Common Stock and public warrants of the Company began trading on the Nasdaq Stock Market LLC (“Nasdaq”) as “BNAI” and “BNAIW,” respectively. Business Prior to the Business Combination As of December 31, 2023, the Company had one wholly owned subsidiary that was created on July 22, 2022, BEN Merger Subsidiary Corp, a Delaware corporation (“Merger Sub”), formerly known as Glory Merger Subsidiary Corp. On March 3, 2023, the Company held an extraordinary general meeting (the “First Extension Meeting”) to vote on a number of proposals, including a proposal to approve an amendment the Company’s amended and restated memorandum and articles of association to (i) extend the date by which the Company has to consummate a business combination from March 4, 2023 to December 4, 2023 (the “Combination Period”). The proposal was approved by the Company’s shareholders. In connection with the First Extension Meeting, the holders of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20230303__20230303__dei--LegalEntityAxis__custom--DhcAcquisitionCorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zeJJlmMLk7t8" title="Stock issued during period, stock options exercised">26,298,498 Class A ordinary shares of the Company (the “Redeeming Shareholders”) properly exercised their right to redeem their Class A ordinary shares for cash at a redemption price of approximately $<span id="xdx_905_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230303__dei--LegalEntityAxis__custom--DhcAcquisitionCorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6pjL9KoAcWk" title="Temporary equity redemption price per share">10.21 per share, for an aggregate redemption amount of approximately $<span id="xdx_906_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230303__20230303__dei--LegalEntityAxis__custom--DhcAcquisitionCorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHbvxdt3Orl3" title="Temporary equity, accretion to redemption value">268,585,000. This could adversely impact the Company’s ability to consummate a business combination within the Combination Period. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 On December 1, 2023, the Company held an extraordinary general meeting (the “Second Extension Meeting”) to amend the Company’s amended and restated memorandum and articles of association to extend the date by which the Company has to consummate a business combination from December 4, 2023 to May 4, 2024. The Article Amendment is effective as of December 1, 2023. In connection with the Second Extension Meeting, the holders of <span id="xdx_903_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7EcCh1D9Of3" title="Stock redeemed or called during period, shares">2,589,121 Class A ordinary shares of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_906_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20231201__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ziVhQXRd9wZ" title="Temporary equity redemption price per share">10.67 per share, for an aggregate redemption amount of approximately $<span id="xdx_902_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iI_c20231201__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z0mkwxdOSLs1" title="Temporary equity, par value">27,631,384. All activity through December 31, 2023 relates to the Company’s formation, the initial public offering (“Initial Public Offering”), which is described below, and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the cash held in an interest bearing account), along with income or loss from the change in fair value of the warrant liabilities. The registration statement for the Company’s Initial Public Offering was declared effective on March 1, 2021. On March 4, 2021, the Company consummated the Initial Public Offering of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210304__20210304__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zEjRjx4TKHSg" title="Stock issued during period shares new issues">30,000,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public Shares”), at $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_iI_c20210304__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zJtlXb5donUc" title="Shares issue price">10.00 per Unit, generating gross proceeds of $300,000,000 which is described in Note 4. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of <span id="xdx_900_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriod_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zEERCk6b5XC7" title="Class of warrant or rights issued during period">6,000,000 warrants (the “Private Placement Warrants”) at a price of $<span id="xdx_90E_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriodPricePerWarrantOrRight_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zrL78A6kcJ4k" title="Class of warrant or rights issued during period, price per warrant or right">1.50 per Private Placement Warrant in a private placement to DHC Sponsor LLC, a Delaware limited liability company (the “Sponsor”) generating gross proceeds of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfWarrants_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zGBHNmw7odT4" title="Proceeds from issuance of warrants">9,000,000, which is described in Note 5. Following the closing of the Initial Public Offering on March 4, 2021, an amount of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210304__20210304__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zHqtZJbbyYI8" title="Proceeds from sale of equity">300,000,000 ($<span id="xdx_906_ecustom--ProceedsFromIssuanceOrSaleOfEquityPerUnit_iI_c20210304__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z2sxyLsi3tv2" title="Proceeds from sale of equity">10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”), located in the United States and will be invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of (i) the completion of a Business Combination and (ii) the distribution of the funds held in the Trust Account, as described below. On March 5, 2021, the underwriters partially exercised their over-allotment option, resulting in an additional <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zq8L18tWAch5" title="Stock issued during period shares new issues">945,072 Units issued for an aggregate amount of $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zvZ3CYyBOYYi" title="Stock issued during period value new issues">9,450,720. In connection with the underwriters’ partial exercise of their over-allotment option, the Company also consummated the sale of an additional <span id="xdx_901_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriod_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zYSYZaX8P37h" title="Class of warrant or rights issued during period">126,010 Private Placement Warrants at $<span id="xdx_908_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriodPricePerWarrantOrRight_iI_c20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_ztkGZpkcg9Db" title="Class of warrant or rights issued during period, price per warrant or right">1.50 per Private Placement Warrant, generating total proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfWarrants_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zT1A861Dh8q7" title="Proceeds from issuance of warrants">189,015. A total of $9,450,720 was deposited into the Trust Account, bringing the aggregate proceeds deposited in the Trust Account to $309,450,720. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Transaction costs amounted to $17,501,346, consisting of $6,189,014 in cash underwriting fees, net of reimbursement, $10,830,775 of deferred underwriting fees and $481,557 of other offering costs. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 either immediately prior to or upon such consummation of a Business Combination and, if the Company seeks shareholder approval, it receives an ordinary resolution under Cayman Islands law approving a Business Combination, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the Company. If a shareholder vote is not required by applicable law or stock exchange listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (the “SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transactions is required by applicable law or stock exchange listing requirements, or the Company decides to obtain shareholder approval for business or other reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote any Founder Shares (as defined in Note 6) and Public Shares held by it in favor of approving a Business Combination. Additionally, each public shareholder may elect to redeem their Public Shares, without voting, and if they do vote, irrespective of whether they vote for or against an Initial Business Combination. Business Combination Agreement On July 25, 2022, the Company entered into a Business Combination Agreement and Plan of Reorganization (the “GloriFi Business Combination Agreement”) by and among the Company, Merger Sub and With Purpose, Inc. (d/b/a GloriFi, Inc.), a Delaware corporation (“GloriFi”). On January 26, 2023, the Company sent GloriFi written notice that it had terminated the GloriFi Business Combination Agreement, pursuant to Section 9.01(i) and Section 9.01(f) the GloriFi Business Combination Agreement. The Company’s decision to terminate the GloriFi Business Combination Agreement took into account the fact that GloriFi had previously publicly announced that GloriFi was winding down its operations and closing its digital banking platform and other products. As a result of the termination of the GloriFi Business Combination Agreement, each of the Ancillary Agreements (as defined in the GloriFi Business Combination Agreement) were terminated. On September 7, 2023, the Company, Merger Sub, and Brand Engagement Network Inc., a Wyoming corporation (“BEN”), and, solely with respect to Section 7.21 and Section 9.03 of the Business Combination Agreement (as defined below), the Sponsor, entered into a business combination agreement and plan of reorganization (the “Business Combination Agreement”), pursuant to which Merger Sub will merge with and into BEN (the “Merger,” and together with the other transactions related thereto, the “Transactions”), with BEN surviving the Merger as a direct wholly owned subsidiary of DHC. In connection with the Merger, and as further described below, DHC will change its name to “Brand Engagement Network Inc.” (“New BEN”). Pursuant to the Business Combination Agreement, on March 13, 2024, the day preceding the closing of the Merger (the “Closing”) and following the exercise of their redemption right by the shareholders of DHC (the “DHC Shareholders”), DHC changed its jurisdiction of incorporation by domesticating as a corporation incorporated under the laws of the State of Delaware in accordance with the Delaware General Corporation Law and the Companies Act (as revised) of the Cayman Islands (the “Domestication”). Upon the effectiveness of the Domestication: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">DHC changed its name to “Brand Engagement Network Inc.” </td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">each then issued and outstanding Class A ordinary share, par value $<span id="xdx_908_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20240313__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zI1ipOZ5aYw8" title="Common stock, par value">0.0001 per share, of DHC converted automatically into <span id="xdx_905_eus-gaap--CommonStockConversionBasis_c20240313__20240313__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z5SecU0RTGva" title="Common stock conversion basis">one (1) share of common stock, par value $<span id="xdx_909_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20240313__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zrAK7Opb7wDa" title="Common stock, par value">0.0001 per share, of New BEN (the “New BEN Common Stock”); </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">each then issued and outstanding Class B ordinary share, par value $0.0001 per share, of DHC converted automatically into <span id="xdx_90C_eus-gaap--CommonStockConversionBasis_c20240313__20240313__us-gaap--StatementClassOfStockAxis__custom--NewBenCommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zU7k50bmcoz8" title="Common stock conversion basis">one (1) share of New BEN Common Stock; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">each then issued and outstanding DHC warrant exercisable to purchase one Class A ordinary share of DHC converted automatically into one warrant exercisable to purchase one share of New BEN Common Stock (the “New BEN Warrants”); and </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">each unit consisting of one Class A ordinary share of DHC and one-third (1/3) of one DHC warrant converted automatically into a unit consisting of one share of New BEN Common Stock and one-third (1/3) of one New BEN Warrant.</td></tr> </table> The obligations of BEN and DHC to consummate the Transactions were subject to the satisfaction or waiver (where permissible) at or prior to the Closing of various conditions, including, among other things, (i) expiration or termination of all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976; (ii) the accuracy of the representations and warranties of DHC and BEN, respectively; (iii) the performance by DHC and BEN, respectively, of its covenants and agreements; (iv) the absence of any material adverse effect that is continuing with respect to DHC and BEN, respectively, during the Interim Period; (v) the approval of BEN’s stockholders and the DHC Shareholders; (vi) the effectiveness of a registration statement on Form S-4 to be filed with the SEC in connection with the Transactions (the “Registration Statement”); (vii) the receipt of requisite government approvals; (viii) DHC having at least $5,000,001 of net tangible assets following the exercise of redemption rights provided in accordance with the organizational documents of DHC; (ix) as a condition to DHC’s obligations to consummate the Transactions, the continued effectiveness of the Reseller Agreement and the Subscription Agreement (each as defined below); and (x) as a condition to BEN’s obligations to consummate the Transactions, the shares of New BEN Common Stock shall have been approved for listing on the Nasdaq Capital Market, or another national securities exchange mutually agreed to by the Parties. The parties to the Business Combination Agreement made customary representations, warranties and covenants, including, among others, with respect to the conduct of the businesses of BEN and DHC during the period between execution of the Business Combination Agreement and the Closing. Stockholder Support Agreement On September 7, 2023, DHC, BEN, and certain stockholders of BEN (“Key BEN Holders”) entered into a Stockholder Support Agreement (the “Stockholder Support Agreement”) pursuant to which the Key BEN Holders agreed to, among other things, (i) waive any appraisal rights in connection with the Merger and (ii) consent to and vote in favor of the Business Combination Agreement and the Transactions. Lock-Up Agreement On September 7, 2023, DHC and certain stockholders of BEN entered into a lock-up agreement (the “Lock-Up Agreement”) pursuant to which such stockholders agreed not to, subject to the occurrence of the Closing, (a) sell or otherwise dispose of, or agree to sell or dispose of, directly or indirectly, certain shares of DHC Common Stock held by such persons immediately after the Closing or any shares of DHC Common Stock issuable upon the exercise of options, warrants or other convertible securities to purchase shares of New BEN Common Stock held by such persons immediately after the Closing (collectively, “Lock-Up Shares”), (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of such Lock-Up Shares, or (c) publicly announce any intention to effect any transaction specified in clause (a) or (b) until the earlier of (i) the twelve (12) month anniversary of the Closing Date, (ii) the date on which the last reported sale price of shares of New BEN Common Stock equals or exceeds $18.00 per share for twenty (<span id="xdx_90E_ecustom--ShareTransferRestrictionThresholdTradingDays_dtD_c20230907__20230907__custom--AgreementTypeAxis__custom--LockUpAgreementMember_zar951CGVyUi" title="Share transfer restriction, threshold trading days">20) of any thirty (<span id="xdx_90C_ecustom--NumberOfConsecutiveTradingDaysForSharePriceDetermination_dtD_c20230907__20230907__custom--AgreementTypeAxis__custom--LockUpAgreementMember_zvHY3TqJO59j" title="Number of consecutive trading days for share price determination">30) consecutive trading days commencing ninety (<span id="xdx_904_ecustom--NumberOfDaysPostClosingBasedOnWhichLockInPeriodIsDetermined_dtD_c20230907__20230907__custom--AgreementTypeAxis__custom--LockUpAgreementMember_zG8nHu0bXR4g" title="Number of days post closing based on which lock in period is determined.">90) days after the Closing Date, or (iii) the date specified in a written waiver pursuant to the terms of the Lock-Up Agreement. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Liquidity and Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of December 31, 2023, the Company had $40,167 in its operating bank account and a working capital deficit of $7,975,260. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (see Note 6). As of December 31, 2023, there were <span id="xdx_90D_ecustom--AdvancesFromRelatedPartyCurrent_iI_dxL_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zmXyJCnQno39" title="Due to related parties current::XDX::-">no amounts outstanding under any Working Capital Loan. In connection with the extraordinary general meeting of shareholders held on March 3, 2023 (the “First Extension Meeting”), to extend the date by which the Company has to consummate a business combination (the “Articles Extension”) from March 4, 2023 to December 4, 2023, the Company and the Sponsor, have entered into one or more non-redemption agreements (the “Non-Redemption Agreements”), with several unaffiliated third parties, pursuant to which such third parties agreed not to redeem (or to validly rescind any redemption requests on) an aggregate of 400,000 previously-held Class A ordinary shares of the Company (“Non-Redeemed Shares”) in connection with the Articles Extension. In exchange for the foregoing commitments not to redeem such previously held Class A ordinary shares, the Sponsor agreed to transfer an aggregate of <span id="xdx_90B_ecustom--NumberOfSharesToBeTransferredAmongstTheRelatedPartiesInterestUponConsummationOfBusinessCombination_pid_c20230303__20230303__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_z4iHwJrkZiM1" title="Number of shares agreed to transfer">150,000 Class B ordinary shares of the Company held by the Sponsor to such third parties immediately following consummation of an initial business combination if such third parties continued to hold such Non-Redeemed Shares through the Extension Meeting. In Connection with Extension meeting, the Redeeming Shareholders properly exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90F_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_c20230303__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7231G8mZFH4" title="Temporary equity redemption price per share">10.21 per share, for an aggregate redemption amount of $<span id="xdx_908_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230303__20230303__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztQROc4RBcmb" title="Accretion of carrying value to redemption value">268,585,494. In connection with the extraordinary general meeting of shareholders held on December 1, 2023, to extend the date by which the Company has to consummate a business combination (the “Articles Extension”) from December 4, 2023 to May 4, 2024, the Company and the Sponsor have entered into one or more non-redemption agreements with several unaffiliated third parties, pursuant to which such third parties holders of an aggregate of <span id="xdx_901_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zem2BYIzL8Lc" title="Ordinary shares subject to possible redemption">1,971,536 previously-held Class A ordinary shares of the Company agreed not to redeem (or to validly rescind any redemption requests on) such shares in connection with the Articles Extension. In exchange for the foregoing commitments not to redeem such previously-held Class A ordinary shares, the Sponsor agreed to transfer an aggregate of <span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zKGLaKRCO3x9" title="Common stock shares outstanding">246,443 Class B ordinary shares of the Company held by the Sponsor to such third parties immediately following consummation of an initial business combination if such third parties continued to hold such Non-Redeemed Shares through the Extension Meeting. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Codification (“ASC”) Topic 205-40, “Basis of Presentation—Going Concern”, management has determined that the liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern, which is considered to be one year from the issuance of these financial statements. On March 14, 2024, the Company consummated the Transaction, however, the liquidity condition of the Company remains unstable. The uncertainty around the Company’s ability to stabilize the liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern. Management intends to raise additional capital in order to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023

2020-12-22

1949706

10.77

20998333.62

1908504

10.80

20612041

26298498

10.21

268585000

December 4, 2023 to May 4, 2024

2589121

10.67

27631384

30000000

10.00

300000000

6000000 1.50

9000000

300000000

10.00 P185D

945072

9450720

126010 1.50

189015

9450720

309450720 17501346 6189014 10830775 481557 5000001

0.0001

one (1) share of common stock

0.0001

one (1) share of New BEN Common Stock

5000001

P12M

18.00

P20D P30D P90D

40167

7975260

400000

150000

10.21

268585494

1971536

246443

NOTE 2. RESTATEMENT OF PREVIOUSLY FILED FINANCIAL STATEMENTS During the course of preparing the Annual Report on Form 10-K for the year ended December 31, 2023, the Company identified a misstatement in the Company’s number of Class B ordinary shares issued in connection with the non-redemption agreement entered into on February 28, 2023, as described in Note 6. Previously the company disclosed that there were <span id="xdx_908_eus-gaap--CommonStockSharesOutstanding_iI_c20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zU56DvJpkqWb">150,000 Class B ordinary shares transferred to non-redeeming shareholders, the correct number of Class B ordinary shares to be transferred was <span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_iI_c20231231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zBMvhzZoju2k">1,462,500 subject to the consummation of a business combination. As a result, the fair value of the Class B ordinary shares was $<span id="xdx_904_eus-gaap--CommonStockValueOutstanding_iI_c20231231__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zRzYEnF2HRsk">7,256,667 instead of the previously disclosed $<span id="xdx_90A_eus-gaap--CommonStockValueOutstanding_iI_c20231231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zSUwsTD63Scc">744,274. The Company recognized a capital contribution by the Sponsor to induce the holders of the Class A Ordinary Shares not to redeem, with a corresponding charge to additional paid-in capital to recognize an offering cost which was erroneously recorded as the corresponding charge should have been recognized as an expense for the fair value of the shares transferred during the year ended December 31, 2023. The Company will present this restatement in a prospective manner in all future filings. Under this approach, the previously issued Form 10-Qs will not be amended, but historical amounts presented in the current and future filings will be recast to be consistent with the current presentation, and an explanatory footnote will be provided. The impact of the revision on the Company’s financial statements is presented in the following table: <p id="xdx_89A_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_z8IFq9zvkZJf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_4BF_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zFCqZJGCMtKk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As previously Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_4B4_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zuEw8UIf0zHi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_4BF_zwVTki8cZak8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As Revised</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Balance Sheet as of March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20230331_eus-gaap--AdditionalPaidInCapital_iI_zb01oACZhXcl" style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Additional paid-in capital</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">4,515,979</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,515,979</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_43E_c20230331_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zEL3rqoRgzAg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,858,739</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,515,979</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,374,718</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Unaudited Condensed Statement of Operations for the Three Months Ended March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20230101__20230331_ecustom--ExpensesRelatedToNonRedemptionAgreement_zRbbkVGMdfLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expense related to non-redemption agreements</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230331_eus-gaap--NetIncomeLoss_zlgvVhlwIhi8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,078,069</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,213,464</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per share, Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzKfRvBoggu4" title="Basic net income per share, Class A ordinary shares"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVVMGRFCnIFi" title="Diiluted net income per share, Class A ordinary shares">0.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1YPPVnLLyJk" title="Basic net income per share, Class A ordinary shares"><span id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ziIu1KUxykm5" title="Diiluted net income per share, Class A ordinary shares">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zU8N6erI86Pb" title="Basic net income per share, Class A ordinary shares"><span id="xdx_902_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znTNZLCEdxw3" title="Diiluted net income per share, Class A ordinary shares">(0.15</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z10Aw67j4IK7" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zn9tEbpgD0f5" title="Diluted Weighted average shares outstanding of Class B ordinary shares">0.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_di_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcqgqORtvvdd" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_di_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwUewYDYwAgi" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_di_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zIEaKdpdV7jj" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_di_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zgQIQdXp80jk" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.15</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20230331_ecustom--AdjustmentsToAdditionalPaidInCapitalShareholderNonRedemptionAgreement_zK6Ni4FrzPpj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Shareholder non-redemption agreement</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(744,274</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">744,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230331_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_ziiljWOsYOO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contribution by Sponsor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">744,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,547,259</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_eus-gaap--StockholdersEquity_iI_zGKw8RHF8B6l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,515,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,515,979</td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_zBrRzVPiWcO4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,858,739</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,515,979</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,374,718</td><td style="text-align: left">)</td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td> <td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center">As previously Reported</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">As Revised</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Statement of Cash Flows for the Three Months Ended March 31, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230331_eus-gaap--NetIncomeLoss_zr6aPdjFkCDa" style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Net income (loss)</td> <td style="width: 2%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,078,069</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">(7,291,533</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(5,213,464</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_43D_c20230101__20230331_ecustom--FairValueOfFounderSharesAssignedInConnectionWithNonRedemptionAgreements_zuZ3GSEqs2Aj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of Founder Shares assigned in connection with the non-redemption agreements</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="vertical-align: bottom; text-align: right">7,291,533 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20230331_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zooZRdJ3v2U2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operation activities</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,262</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,262</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Balance Sheet as of June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_43B_c20230630_eus-gaap--AdditionalPaidInCapital_iI_zU5uXuSvzKve" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230630_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zs7XcGUeZjh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,634,384</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,996,669</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,631,053</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Operations for the Six Months Ended June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230630_ecustom--ExpensesRelatedToNonRedemptionAgreement_zfwChTlmgJHc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expense related to non-redemption agreements</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230630_eus-gaap--NetIncomeLoss_zg9sPBlBuJh8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income (loss)</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,821,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,469,799</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per share, Class A ordinary shares</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgSgaygWTwpe" title="Basic net income per share, Class A ordinary shares"><span id="xdx_90D_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zar8pOAHfcpd" title="Diiluted net income per share, Class A ordinary shares">0.08</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zghCF2YHWF8h" title="Basic net income per share, Class A ordinary shares"><span id="xdx_90A_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zs1zEmcuojPl" title="Diiluted net income per share, Class A ordinary shares">(0.32</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1WJoSTtMXMk" title="Basic net income per share, Class A ordinary shares"><span id="xdx_90F_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOQ54gRSgk0b" title="Diiluted net income per share, Class A ordinary shares">(0.24</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding of Class B ordinary shares</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zODsqyAlEoZj" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcHOUpUQtaQc" title="Diluted Weighted average shares outstanding of Class B ordinary shares">0.08</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zh3pVwMntzha" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zOUciiTfB4Ze" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.32</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zB6BrFtBJwT8" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpo6YsDRWMA9" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.24</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Changes in Shareholders’ Deficit for the Six Months Ended June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_436_c20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_eus-gaap--StockholdersEquity_iI_z4iA4Q9ZHG7f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_zLSX0toLzeZ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,634,384</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,996,669</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,631,053</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Cash Flows for the Six Months Ended June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_432_c20230101__20230630_eus-gaap--NetIncomeLoss_z9BG1Cz5aPlf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,821,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,469,799</td><td style="text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20230630_ecustom--FairValueOfFounderSharesAssignedInConnectionWithNonRedemptionAgreements_zcznfZkuJFb2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value of Founder Shares assigned in connection with the non-redemption agreements</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="vertical-align: bottom; text-align: right">7,291,533</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20230101__20230630_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zlNCbxZSzXY9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net cash used in operation activities</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(482,314</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(482,314</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Unaudited Condensed Balance Sheet as of September 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_430_c20230930_eus-gaap--AdditionalPaidInCapital_iI_zUsYPFLKPzX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid-in capital</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_43A_c20230930_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zUM26Hxghrd7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated deficit</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,797,848</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,423,088</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,220,936</td><td style="text-align: left">)</td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As previously Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As Revised</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Statement of Operations for the Nine Months Ended September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20230101__20230930_ecustom--ExpensesRelatedToNonRedemptionAgreement_z3ObcqpbOsKk" style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: justify">Expense related to non-redemption agreements</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">7,291,533</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,291,533</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20230930_eus-gaap--NetIncomeLoss_zrRResKu576b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">231,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,059,712</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income per share, Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zTNgsh5BSok2" title="Basic net income per share, Class A ordinary shares"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z269eeCTk16g" title="Diiluted net income per share, Class A ordinary shares">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zY1SBWQvDIO6" title="Basic net income per share, Class A ordinary shares"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJeboD8aBD05" title="Diiluted net income per share, Class A ordinary shares">(0.37</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuYrtYCauoui" title="Basic net income per share, Class A ordinary shares"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zubblcZguX0l" title="Diiluted net income per share, Class A ordinary shares">(0.36</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares outstanding of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZP3lCBTMdZa" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zS1FzhWzRZgk" title="Diluted Weighted average shares outstanding of Class B ordinary shares">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwSQF6aeVbB3" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpmyoeWvXbMc" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.37</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zu8hqj5hXk7a" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zPoyqlWAl1ic" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.36</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Changes in Shareholders’ Deficit for the Nine Months Ended September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_eus-gaap--StockholdersEquity_iI_zivbRTGJxZyl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_439_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_z6VPVtaQajO1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,797,848</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,423,088</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,220,936</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Statement of Cash Flows for the Nine Months Ended September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20230101__20230930_eus-gaap--NetIncomeLoss_zR4qRauWK4C4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">231,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,059,712</td><td style="text-align: left">)</td></tr> <tr id="xdx_437_c20230101__20230930_ecustom--FairValueOfFounderSharesAssignedInConnectionWithNonRedemptionAgreements_zkpJPAZ5U8b4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Fair value of Founder Shares assigned in connection with the non-redemption agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533 </td><td style="text-align: left"> </td></tr> <tr id="xdx_43E_c20230101__20230930_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zNN3WxOtKKki" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net cash used in operation activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(726,761</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(726,761</td><td style="text-align: left">)</td></tr> </table>

150000

1462500

7256667

744274

<p id="xdx_89A_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_z8IFq9zvkZJf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_4BF_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zFCqZJGCMtKk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As previously Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_4B4_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zuEw8UIf0zHi" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_4BF_zwVTki8cZak8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As Revised</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Balance Sheet as of March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20230331_eus-gaap--AdditionalPaidInCapital_iI_zb01oACZhXcl" style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Additional paid-in capital</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">4,515,979</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">4,515,979</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_43E_c20230331_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zEL3rqoRgzAg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,858,739</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,515,979</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,374,718</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Unaudited Condensed Statement of Operations for the Three Months Ended March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20230101__20230331_ecustom--ExpensesRelatedToNonRedemptionAgreement_zRbbkVGMdfLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expense related to non-redemption agreements</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230331_eus-gaap--NetIncomeLoss_zlgvVhlwIhi8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,078,069</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,213,464</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per share, Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzKfRvBoggu4" title="Basic net income per share, Class A ordinary shares"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVVMGRFCnIFi" title="Diiluted net income per share, Class A ordinary shares">0.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1YPPVnLLyJk" title="Basic net income per share, Class A ordinary shares"><span id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ziIu1KUxykm5" title="Diiluted net income per share, Class A ordinary shares">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zU8N6erI86Pb" title="Basic net income per share, Class A ordinary shares"><span id="xdx_902_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znTNZLCEdxw3" title="Diiluted net income per share, Class A ordinary shares">(0.15</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z10Aw67j4IK7" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230331__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zn9tEbpgD0f5" title="Diluted Weighted average shares outstanding of Class B ordinary shares">0.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_di_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcqgqORtvvdd" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_di_c20230101__20230331__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwUewYDYwAgi" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_di_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zIEaKdpdV7jj" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_di_c20230101__20230331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zgQIQdXp80jk" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.15</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20230101__20230331_ecustom--AdjustmentsToAdditionalPaidInCapitalShareholderNonRedemptionAgreement_zK6Ni4FrzPpj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Shareholder non-redemption agreement</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(744,274</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">744,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230331_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_ziiljWOsYOO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contribution by Sponsor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">744,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,547,259</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_eus-gaap--StockholdersEquity_iI_zGKw8RHF8B6l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,515,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,515,979</td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_zBrRzVPiWcO4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,858,739</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,515,979</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,374,718</td><td style="text-align: left">)</td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-size: 11pt"> </td> <td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center">As previously Reported</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">As Revised</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Statement of Cash Flows for the Three Months Ended March 31, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230331_eus-gaap--NetIncomeLoss_zr6aPdjFkCDa" style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Net income (loss)</td> <td style="width: 2%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,078,069</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">(7,291,533</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(5,213,464</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_43D_c20230101__20230331_ecustom--FairValueOfFounderSharesAssignedInConnectionWithNonRedemptionAgreements_zuZ3GSEqs2Aj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of Founder Shares assigned in connection with the non-redemption agreements</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="vertical-align: bottom; text-align: right">7,291,533 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20230331_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zooZRdJ3v2U2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash used in operation activities</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,262</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,262</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Balance Sheet as of June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_43B_c20230630_eus-gaap--AdditionalPaidInCapital_iI_zU5uXuSvzKve" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230630_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zs7XcGUeZjh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,634,384</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,996,669</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,631,053</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Operations for the Six Months Ended June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230630_ecustom--ExpensesRelatedToNonRedemptionAgreement_zfwChTlmgJHc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expense related to non-redemption agreements</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_434_c20230101__20230630_eus-gaap--NetIncomeLoss_zg9sPBlBuJh8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income (loss)</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,821,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,469,799</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per share, Class A ordinary shares</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgSgaygWTwpe" title="Basic net income per share, Class A ordinary shares"><span id="xdx_90D_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zar8pOAHfcpd" title="Diiluted net income per share, Class A ordinary shares">0.08</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zghCF2YHWF8h" title="Basic net income per share, Class A ordinary shares"><span id="xdx_90A_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zs1zEmcuojPl" title="Diiluted net income per share, Class A ordinary shares">(0.32</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1WJoSTtMXMk" title="Basic net income per share, Class A ordinary shares"><span id="xdx_90F_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOQ54gRSgk0b" title="Diiluted net income per share, Class A ordinary shares">(0.24</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding of Class B ordinary shares</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zODsqyAlEoZj" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20230630__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcHOUpUQtaQc" title="Diluted Weighted average shares outstanding of Class B ordinary shares">0.08</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zh3pVwMntzha" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230630__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zOUciiTfB4Ze" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.32</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zB6BrFtBJwT8" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpo6YsDRWMA9" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.24</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Changes in Shareholders’ Deficit for the Six Months Ended June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_436_c20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_eus-gaap--StockholdersEquity_iI_z4iA4Q9ZHG7f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,996,669</td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_zLSX0toLzeZ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,634,384</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,996,669</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,631,053</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Cash Flows for the Six Months Ended June 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_432_c20230101__20230630_eus-gaap--NetIncomeLoss_z9BG1Cz5aPlf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,821,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,469,799</td><td style="text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20230630_ecustom--FairValueOfFounderSharesAssignedInConnectionWithNonRedemptionAgreements_zcznfZkuJFb2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value of Founder Shares assigned in connection with the non-redemption agreements</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="vertical-align: bottom; text-align: right">7,291,533</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20230101__20230630_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zlNCbxZSzXY9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net cash used in operation activities</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(482,314</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(482,314</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Unaudited Condensed Balance Sheet as of September 30, 2023</td> <td style="font-size: 11pt; text-align: left"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr id="xdx_430_c20230930_eus-gaap--AdditionalPaidInCapital_iI_zUsYPFLKPzX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid-in capital</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_43A_c20230930_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zUM26Hxghrd7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated deficit</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,797,848</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,423,088</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,220,936</td><td style="text-align: left">)</td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As previously Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As Revised</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Statement of Operations for the Nine Months Ended September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_438_c20230101__20230930_ecustom--ExpensesRelatedToNonRedemptionAgreement_z3ObcqpbOsKk" style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: justify">Expense related to non-redemption agreements</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 14%; text-align: right">7,291,533</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,291,533</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_431_c20230101__20230930_eus-gaap--NetIncomeLoss_zrRResKu576b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">231,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,059,712</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income per share, Class A ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zTNgsh5BSok2" title="Basic net income per share, Class A ordinary shares"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z269eeCTk16g" title="Diiluted net income per share, Class A ordinary shares">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zY1SBWQvDIO6" title="Basic net income per share, Class A ordinary shares"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJeboD8aBD05" title="Diiluted net income per share, Class A ordinary shares">(0.37</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--EarningsPerShareBasic_pid_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuYrtYCauoui" title="Basic net income per share, Class A ordinary shares"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zubblcZguX0l" title="Diiluted net income per share, Class A ordinary shares">(0.36</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares outstanding of Class B ordinary shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zZP3lCBTMdZa" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zS1FzhWzRZgk" title="Diluted Weighted average shares outstanding of Class B ordinary shares">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwSQF6aeVbB3" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpmyoeWvXbMc" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.37</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_di_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zu8hqj5hXk7a" title="Basic Weighted average shares outstanding of Class B ordinary shares"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_di_c20230101__20230930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zPoyqlWAl1ic" title="Diluted Weighted average shares outstanding of Class B ordinary shares">(0.36</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Unaudited Condensed Statement of Changes in Shareholders’ Deficit for the Nine Months Ended September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43F_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_eus-gaap--StockholdersEquity_iI_zivbRTGJxZyl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,423,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_439_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_z6VPVtaQajO1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,797,848</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,423,088</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,220,936</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Unaudited Condensed Statement of Cash Flows for the Nine Months Ended September 30, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20230101__20230930_eus-gaap--NetIncomeLoss_zR4qRauWK4C4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">231,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,291,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(7,059,712</td><td style="text-align: left">)</td></tr> <tr id="xdx_437_c20230101__20230930_ecustom--FairValueOfFounderSharesAssignedInConnectionWithNonRedemptionAgreements_zkpJPAZ5U8b4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Fair value of Founder Shares assigned in connection with the non-redemption agreements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533 </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,291,533 </td><td style="text-align: left"> </td></tr> <tr id="xdx_43E_c20230101__20230930_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zNN3WxOtKKki" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net cash used in operation activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(726,761</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(726,761</td><td style="text-align: left">)</td></tr> </table>

4515979

-16858739

-4515979

-21374718

7291533 7291533

2078069

-7291533

-5213464

0.06

-0.21

-0.15

0.06

0.21

0.15

-744274 744274

744274

6547259

7291533

4515979

-16858739

-4515979

-21374718

2078069

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-5213464

7291533 7291533

-109262

3996669

-17634384

-3996669

-21631053

7291533 7291533

1821734

-7291533

-5469799

0.08

-0.32

-0.24

0.08

0.32

0.24

3996669

-17634384

-3996669

-21631053

1821734

-7291533

-5469799

7291533 7291533

-482314

3423088

-19797848

-3423088

-23220936

7291533 7291533

231821

-7291533

-7059712

0.01

-0.37

-0.36

0.01

0.37

0.36

3423088

-19797848

-3423088

-23220936

231821

-7291533

-7059712

7291533 7291533

-726761

NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the SEC. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, which was formed on July 22, 2022. All significant intercompany balances and transactions have been eliminated in consolidation. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2023 and 2022. <p id="xdx_842_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zgy8Thf9Y56b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Cash and Investments Held in Trust Account At December 31, 2023, assets held in the Trust Account were comprised of $22,040,092 in cash. At December 31, 2022, assets held in the Trust Account were comprised of $313,913,217 invested primarily in U.S. Treasury Securities. In order to finance transaction costs in connection with a business combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, provide the Company working capital loans, as defined below. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Trust Account Receivable In connection with the Extension Meeting, as described in Note 1, due to a clerical error by the trustee of the Trust Account, the Redeeming Shareholders were overpaid approximately $0.03 per Class A ordinary share that was redeemed, for an aggregate total overpayment amount of $887,555 (the “Overpayment Amount”). As of December 31, 2023, the Company has collected $870,731 of the overpayment and $16,824 remains receivable. The Company is in process of collecting the remaining Overpayment Amount and currently expects to fully recover the total Overpayment Amount. Concentration of Credit Risk The Company has historically had significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to warrant liabilities were expensed as incurred in the consolidated statements of operations. Offering costs associated with the Class A ordinary shares issued were initially charged to temporary equity and then accreted to the redemption value of the Class A ordinary shares subject to redemption upon the completion of the Initial Public Offering. Offering costs amounted to $17,501,347, of which $16,915,008 was charged to temporary shareholders’ deficit upon the completion of the Initial Public Offering and $586,339 was expensed at the date of the initial public offering. Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption, if any, are classified as a liability instrument and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at December 31, 2023 and 2022, 2,057,453 and 30,945,072 Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ deficit section of the Company’s consolidated balance sheets, respectively. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 At December 31, 2023 and 2022, the Class A ordinary shares reflected in the consolidated balance sheets are reconciled in the following table: SCHEDULE OF CLASS A ORDINARY SHARES REFLECTED IN CONSOLIDATED BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Gross proceeds</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zjs0O7Kn7Uph" style="width: 18%; text-align: right" title="Gross proceeds">309,450,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zLSXfIhbdx1" style="text-align: right" title="Proceeds allocated to Public Warrants">(10,211,874</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Class A ordinary shares issuance costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--TemporaryEquityIssuanceCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcqAj3ycQNK5" style="text-align: right" title="Class A ordinary shares issuance costs">(16,924,264</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxrgJGvuLU15" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">27,136,138</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zo1lQ4nI5Jia" style="font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">309,450,720</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zdQzZVQH7S2e" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">4,462,497</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2022</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXYp10tHlVQb" style="font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">313,913,217</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Redemption</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--TemporaryEquityAccretionOfInterest_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFlztvQtfnQ5" style="text-align: right" title="Redemption">(296,216,878</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEJqHKBiaUG2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">4,360,577</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2023</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2RoejWFO719" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">22,056,916</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued share purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The Company accounts for the Warrants in accordance with the guidance contained in ASC 815-40under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjust the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s consolidated statements of operations. The Private Placement Warrants and the Public Warrants for periods where no observable traded price was available are valued using a Monte Carlo simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price will be used as the fair value as of each relevant date. Income Taxes The Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2023 and 2022, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented. Net (Loss) Income per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net (loss) income per ordinary share is computed by dividing net (loss) income by the weighted average number of ordinary shares outstanding for the period. The Company applies the two-class method in calculating (loss) income per ordinary share. Accretion associated with the redeemable shares of Class A ordinary share is excluded from (loss) income per ordinary share as the redemption value approximates fair value. The calculation of diluted (loss) income per ordinary share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, and (ii) the private placement since the exercise of the warrants is contingent upon the occurrence of future events. The warrants are exercisable to purchase 16,441,034 shares of Class A ordinary share in the aggregate. As of December 31, 2023 and 2022, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted net (loss) income per ordinary share is the same as basic net (loss) income per ordinary share for the periods presented. <p id="xdx_892_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zZxgPu7U6wK2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The following tables reflect the calculation of basic and diluted net (loss) income per ordinary share (in dollars, except per share amounts): SUMMARY OF BASIC AND DILUTED INCOME (LOSS) PER ORDINARY SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwlRj7UimYNk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zX8H2TvJ55k4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zpOjiWXCzXg2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUk1jzbFXJm7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zuVwhZrkw8fd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net (loss) income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_zaZNe3W2n5V2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Allocation of net (loss) income, as adjusted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,841,312</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,038,682</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">5,765,370</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,441,343</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Basic and diluted weighted average shares outstanding</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zs5ooX6dhEk6" title="Basic weighted average shares outstanding"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqNH6DCZXX7j" title="Diluted weighted average shares outstanding">9,779,707</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zaJ5zhWAbWi" title="Basic weighted average shares outstanding"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zynQ2gOpeJ0i" title="Diluted weighted average shares outstanding">7,736,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHOtEuNCXuhh" title="Basic weighted average shares outstanding"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7YKPvmNirU8" title="Diluted weighted average shares outstanding">30,945,072</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zQOAMpOrctyk" title="Basic weighted average shares outstanding"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zqnterohfT86" title="Diluted weighted average shares outstanding">7,736,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_pid_z1zm4vRgNAoj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Basic net (loss) income per ordinary share</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(0.39</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(0.39</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.19</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.19</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-term nature, except for the warrant liabilities (see Note 10). BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z039hXz8kZD1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Recent Accounting Standards In August 2020, the FASB issued ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)” (“ASU 2020-06”), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. As a smaller reporting company, ASU 2020-06 is effective January 1, 2024 for fiscal years beginning after December 15, 2023 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. The Company has not adopted this guidance as of December 31, 2023. In June 2016, the FASB issued ASU 2016-13, “ Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). This update requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Since June 2016, the FASB issued clarifying updates to the new standard including changing the effective date for smaller reporting companies. The guidance is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU 2016-13 on January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company’s consolidated financial statements. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Basis of Presentation The accompanying consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the SEC.

Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, which was formed on July 22, 2022. All significant intercompany balances and transactions have been eliminated in consolidation.

Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2023 and 2022.

P3M

<p id="xdx_842_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zgy8Thf9Y56b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Cash and Investments Held in Trust Account At December 31, 2023, assets held in the Trust Account were comprised of $22,040,092 in cash. At December 31, 2022, assets held in the Trust Account were comprised of $313,913,217 invested primarily in U.S. Treasury Securities. In order to finance transaction costs in connection with a business combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, provide the Company working capital loans, as defined below. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023

22040092

313913217

Trust Account Receivable In connection with the Extension Meeting, as described in Note 1, due to a clerical error by the trustee of the Trust Account, the Redeeming Shareholders were overpaid approximately $0.03 per Class A ordinary share that was redeemed, for an aggregate total overpayment amount of $887,555 (the “Overpayment Amount”). As of December 31, 2023, the Company has collected $870,731 of the overpayment and $16,824 remains receivable. The Company is in process of collecting the remaining Overpayment Amount and currently expects to fully recover the total Overpayment Amount.

0.03

887555

870731

16824

Concentration of Credit Risk The Company has historically had significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

250000

Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to warrant liabilities were expensed as incurred in the consolidated statements of operations. Offering costs associated with the Class A ordinary shares issued were initially charged to temporary equity and then accreted to the redemption value of the Class A ordinary shares subject to redemption upon the completion of the Initial Public Offering. Offering costs amounted to $17,501,347, of which $16,915,008 was charged to temporary shareholders’ deficit upon the completion of the Initial Public Offering and $586,339 was expensed at the date of the initial public offering. 17501347 16915008 586339 Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption, if any, are classified as a liability instrument and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at December 31, 2023 and 2022, 2,057,453 and 30,945,072 Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ deficit section of the Company’s consolidated balance sheets, respectively. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 At December 31, 2023 and 2022, the Class A ordinary shares reflected in the consolidated balance sheets are reconciled in the following table: SCHEDULE OF CLASS A ORDINARY SHARES REFLECTED IN CONSOLIDATED BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Gross proceeds</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zjs0O7Kn7Uph" style="width: 18%; text-align: right" title="Gross proceeds">309,450,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zLSXfIhbdx1" style="text-align: right" title="Proceeds allocated to Public Warrants">(10,211,874</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Class A ordinary shares issuance costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--TemporaryEquityIssuanceCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcqAj3ycQNK5" style="text-align: right" title="Class A ordinary shares issuance costs">(16,924,264</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxrgJGvuLU15" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">27,136,138</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zo1lQ4nI5Jia" style="font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">309,450,720</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zdQzZVQH7S2e" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">4,462,497</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2022</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXYp10tHlVQb" style="font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">313,913,217</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Redemption</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--TemporaryEquityAccretionOfInterest_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFlztvQtfnQ5" style="text-align: right" title="Redemption">(296,216,878</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEJqHKBiaUG2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">4,360,577</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2023</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2RoejWFO719" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">22,056,916</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

2057453

30945072

At December 31, 2023 and 2022, the Class A ordinary shares reflected in the consolidated balance sheets are reconciled in the following table: SCHEDULE OF CLASS A ORDINARY SHARES REFLECTED IN CONSOLIDATED BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Gross proceeds</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zjs0O7Kn7Uph" style="width: 18%; text-align: right" title="Gross proceeds">309,450,720</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zLSXfIhbdx1" style="text-align: right" title="Proceeds allocated to Public Warrants">(10,211,874</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Class A ordinary shares issuance costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--TemporaryEquityIssuanceCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcqAj3ycQNK5" style="text-align: right" title="Class A ordinary shares issuance costs">(16,924,264</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxrgJGvuLU15" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">27,136,138</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zo1lQ4nI5Jia" style="font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">309,450,720</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zdQzZVQH7S2e" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">4,462,497</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2022</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXYp10tHlVQb" style="font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">313,913,217</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Redemption</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--TemporaryEquityAccretionOfInterest_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFlztvQtfnQ5" style="text-align: right" title="Redemption">(296,216,878</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Plus:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEJqHKBiaUG2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accretion of carrying value to redemption value">4,360,577</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Class A ordinary shares subject to possible redemption as of December 31, 2023</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2RoejWFO719" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Temporary Equity, Carrying Amount, Attributable to Parent">22,056,916</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

309450720

10211874

16924264

27136138

309450720

4462497

313913217

296216878

4360577

22056916

Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued share purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The Company accounts for the Warrants in accordance with the guidance contained in ASC 815-40under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjust the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s consolidated statements of operations. The Private Placement Warrants and the Public Warrants for periods where no observable traded price was available are valued using a Monte Carlo simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price will be used as the fair value as of each relevant date.

Income Taxes The Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2023 and 2022, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented.

Net (Loss) Income per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net (loss) income per ordinary share is computed by dividing net (loss) income by the weighted average number of ordinary shares outstanding for the period. The Company applies the two-class method in calculating (loss) income per ordinary share. Accretion associated with the redeemable shares of Class A ordinary share is excluded from (loss) income per ordinary share as the redemption value approximates fair value. The calculation of diluted (loss) income per ordinary share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, and (ii) the private placement since the exercise of the warrants is contingent upon the occurrence of future events. The warrants are exercisable to purchase 16,441,034 shares of Class A ordinary share in the aggregate. As of December 31, 2023 and 2022, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted net (loss) income per ordinary share is the same as basic net (loss) income per ordinary share for the periods presented. <p id="xdx_892_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zZxgPu7U6wK2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The following tables reflect the calculation of basic and diluted net (loss) income per ordinary share (in dollars, except per share amounts): SUMMARY OF BASIC AND DILUTED INCOME (LOSS) PER ORDINARY SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwlRj7UimYNk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zX8H2TvJ55k4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zpOjiWXCzXg2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUk1jzbFXJm7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zuVwhZrkw8fd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net (loss) income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_zaZNe3W2n5V2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Allocation of net (loss) income, as adjusted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,841,312</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,038,682</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">5,765,370</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,441,343</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Basic and diluted weighted average shares outstanding</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zs5ooX6dhEk6" title="Basic weighted average shares outstanding"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqNH6DCZXX7j" title="Diluted weighted average shares outstanding">9,779,707</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zaJ5zhWAbWi" title="Basic weighted average shares outstanding"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zynQ2gOpeJ0i" title="Diluted weighted average shares outstanding">7,736,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHOtEuNCXuhh" title="Basic weighted average shares outstanding"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7YKPvmNirU8" title="Diluted weighted average shares outstanding">30,945,072</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zQOAMpOrctyk" title="Basic weighted average shares outstanding"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zqnterohfT86" title="Diluted weighted average shares outstanding">7,736,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_pid_z1zm4vRgNAoj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Basic net (loss) income per ordinary share</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(0.39</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(0.39</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.19</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.19</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

16441034

<p id="xdx_892_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zZxgPu7U6wK2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The following tables reflect the calculation of basic and diluted net (loss) income per ordinary share (in dollars, except per share amounts): SUMMARY OF BASIC AND DILUTED INCOME (LOSS) PER ORDINARY SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwlRj7UimYNk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zX8H2TvJ55k4" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zpOjiWXCzXg2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUk1jzbFXJm7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zuVwhZrkw8fd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net (loss) income per ordinary share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_zaZNe3W2n5V2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Allocation of net (loss) income, as adjusted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,841,312</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,038,682</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">5,765,370</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,441,343</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Basic and diluted weighted average shares outstanding</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zs5ooX6dhEk6" title="Basic weighted average shares outstanding"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqNH6DCZXX7j" title="Diluted weighted average shares outstanding">9,779,707</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zaJ5zhWAbWi" title="Basic weighted average shares outstanding"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zynQ2gOpeJ0i" title="Diluted weighted average shares outstanding">7,736,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHOtEuNCXuhh" title="Basic weighted average shares outstanding"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7YKPvmNirU8" title="Diluted weighted average shares outstanding">30,945,072</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zQOAMpOrctyk" title="Basic weighted average shares outstanding"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zqnterohfT86" title="Diluted weighted average shares outstanding">7,736,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_pid_z1zm4vRgNAoj" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Basic net (loss) income per ordinary share</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(0.39</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(0.39</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.19</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">0.19</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

-3841312

-3038682

5765370

1441343

9779707

7736268

30945072

7736268

-0.39

0.19

Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-term nature, except for the warrant liabilities (see Note 10). BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023

<p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z039hXz8kZD1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Recent Accounting Standards In August 2020, the FASB issued ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)” (“ASU 2020-06”), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. As a smaller reporting company, ASU 2020-06 is effective January 1, 2024 for fiscal years beginning after December 15, 2023 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. The Company has not adopted this guidance as of December 31, 2023. In June 2016, the FASB issued ASU 2016-13, “ Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). This update requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Since June 2016, the FASB issued clarifying updates to the new standard including changing the effective date for smaller reporting companies. The guidance is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU 2016-13 on January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company’s consolidated financial statements. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

NOTE 4. PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210304__20210304__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z27C7ujXXQI" title="Stock issued during period shares new issues">30,000,000 Units, at a price of $<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20210304__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zbiaTXcoF5Fd" title="Shares issue price">10.00 per Unit. Each Unit consists of one Class A ordinary share and one-third of one redeemable warrant (“Public Warrant”). <span id="xdx_900_eus-gaap--CommonStockConversionBasis_pid_c20210304__20210304__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zFLhdYaR8F8g" title="Common stock, conversion basis">Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at a price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20210304__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zajoOQeSmK07" title="Warrants exercise price per share">11.50 per share, subject to adjustment (see Note 10). On March 5, 2021, the underwriters partially exercised their over-allotment option, resulting in an additional <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_z2Ix13tYtrUh" title="Stock issued during period shares new issues">945,072 Units issued for an aggregate amount of $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zq49gwcyxmXd" title="Stock issued during period value new issues">9,450,720. In connection with the underwriters’ partial exercise of their over-allotment option, the Company also consummated the sale of an additional <span id="xdx_907_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriod_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zr1BDNOOFnob" title="Class of warrant or rights issued during period">126,010 Private Placement Warrants at $<span id="xdx_90E_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriodPricePerWarrantOrRight_iI_c20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zrbeJn7LgW5j" title="Class of warrant or rights issued during period, price per warrant or right">1.50 per Private Placement Warrant, generating total proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOfWarrants_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zuN239vSMBR2" title="Proceeds from sale of private placement warrants">189,015. A total of $9,450,720 was deposited into the Trust Account, bringing the aggregate proceeds deposited in the Trust Account to $309,450,720.

30000000

10.00

Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment (see Note 10)

11.50

945072

9450720

126010 1.50

189015

9450720

309450720 NOTE 5. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased <span id="xdx_903_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriod_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zIl706Tuqpce" title="Class of warrant or rights issued during period">6,000,000 Private Placement Warrants at a price of $<span id="xdx_906_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriodPricePerWarrantOrRight_iI_c20231231__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_z3fOy4BdSBhd" title="Class of warrant or rights issued during period, price per warrant or right">1.50 per Private Placement Warrant, for an aggregate purchase price of $<span id="xdx_905_ecustom--ClassOfWarrantsOrRightsSubscribedButNotIssuedValueData_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zheZAL3gO9ka" title="Class of warrants or rights subscribed but not issued value">9,000,000. The Sponsor agreed to purchase up to an additional <span id="xdx_90E_ecustom--ClassOfWarrantsOrRightsSubscribedButNotIssued_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zNGXKnKgi2r1" title="Class of warrants or rights subscribed but not issued">600,000 Private Placement Warrants, for an aggregate purchase price of an additional $<span id="xdx_906_ecustom--ClassOfWarrantsOrRightsSubscribedButNotIssuedValueData_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zAMuyEWdYBNi" title="Class of warrants or rights subscribed but not issued value">900,000, if the over-allotment option is exercised in part by the underwriters. On March 5, the Sponsor purchased <span id="xdx_90A_ecustom--ClassOfWarrantOrRightsIssuedDuringPeriod_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zG2WA5u9Qd0k" title="Class of warrant or rights issued during period">126,010 Private Placement Warrants for an additional aggregate purchase price of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfWarrants_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zoTHAjbvd98b" title="Proceeds from issuance of warrants">189,015 in connection with the partial exercise of the underwriters’ over-allotment option. Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at a price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_z3Nhu1Ah64ne" title="Class of warrants or rights, exercise price">11.50 per share, subject to adjustment (see Note 10). A portion of the proceeds from the Private Placement Warrants was added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Placement Warrants will expire worthless. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 6000000 1.50 9000000 600000 900000 126010

189015

11.50

NOTE 6. RELATED PARTY TRANSACTIONS Founder Shares In December 2020, the Sponsor paid $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20201201__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zjqFQFsvKCR6" title="Stock issued during period, value, issued for services">25,000 to cover certain expenses on behalf of the Company in consideration for <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20201201__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zMtzIsOj3Sb" title="Stock issued during period, shares, issued for services">7,187,500 Class B ordinary shares (the “Founder Shares”). On March 1, 2021, the Company effected a share capitalization, pursuant to which an additional <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210301__20210301__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_z9HfUNgakdP4" title="Stock issued during period">1,437,500 Class B ordinary shares were issued, resulting in an aggregate of <span id="xdx_90F_eus-gaap--CommonStockSharesOutstanding_iI_c20210301__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zIBHbhz5nQn4" title="Common stock shares outstanding">8,625,000 Founder Shares outstanding. Historical information has been retroactively restated. The Founder Shares included an aggregate of up to <span id="xdx_901_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zF3IR4jHYvFj" title="Ordinary shares subject to possible redemption">1,125,000 shares that were subject to forfeiture by the Sponsor following to the extent the underwriters’ election to exercise their over-allotment option was not exercised so that the number of Founder Shares collectively represented <span id="xdx_90C_ecustom--PercentageOfSharesIssuedAndOutstanding_iI_pid_dp_uPure_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zCPZTVEL51Zh" title="Percentage of shares issued and outstanding">20% of the Company’s issued and outstanding shares upon the completion of the Initial Public Offering (assuming the Sponsor did not purchase any Public Shares in the Initial Public Offering). As a result of the underwriters’ not exercising their overallotment option in full, <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationForfeited_c20210304__20210304__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zp83QIjVPX7l" title="Shares issued, shares, share-based payment arrangement, forfeited">888,732 Founder Shares were forfeited on March 4, 2021. The Sponsor has agreed, not to transfer, assign or sell any Founder Shares until the earlier to occur of (i) one year after the completion of the Company’s Business Combination and (ii) subsequent to a Business Combination, (x) if the closing price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any <span id="xdx_90B_ecustom--NumberOfConsecutiveTradingDaysForSharePriceDetermination_dtD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__srt--RangeAxis__srt--MinimumMember_zwxF4P03eJ66" title="Number of consecutive trading days for share price determination">20 trading days within any <span id="xdx_90E_ecustom--ShareTransferRestrictionThresholdTradingDays_dtD_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__srt--RangeAxis__srt--MaximumMember_zIupcSYxV7rb" title="Share transfer restriction, threshold trading days">30-trading day period commencing at least 150 days after the Company’s Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange, or other similar transaction that results in all of the Company’s public shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. Administrative Services Agreement The Company entered into an agreement, commencing on March 4, 2021, through the earlier of the Company’s consummation of a Business Combination and its liquidation, to pay an affiliate of the Sponsor a total of $<span id="xdx_90A_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230101__20231231__custom--AgreementTypeAxis__custom--AdministrativeServiceAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zs53qpgdBenj" title="Related party transaction, amounts of transaction">10,000 per month for office space, secretarial and administrative services. For the years ended December 31, 2023 and 2022, the total expense for administrative services was $<span id="xdx_906_eus-gaap--SellingGeneralAndAdministrativeExpense_c20230101__20231231__custom--AgreementTypeAxis__custom--AdministrativeServiceAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_z6PI6Bgbdtbc" title="Related party transaction. administrative expense"><span id="xdx_904_eus-gaap--SellingGeneralAndAdministrativeExpense_c20220101__20221231__custom--AgreementTypeAxis__custom--AdministrativeServiceAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zYf3DcvHt3i9" title="Related party transaction. administrative expense">120,000. As of December 31, 2023 and 2022, the Company had $<span id="xdx_90B_eus-gaap--SellingGeneralAndAdministrativeExpense_c20230101__20231231__custom--AgreementTypeAxis__custom--AdministrativeServiceAgreementMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccruedLiabilitiesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zLOBvnKkG1r8" title="Related party transaction. administrative expense">340,000 and $<span id="xdx_903_eus-gaap--SellingGeneralAndAdministrativeExpense_c20220101__20221231__custom--AgreementTypeAxis__custom--AdministrativeServiceAgreementMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccruedLiabilitiesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zZb5j7G81G51" title="Related party transaction. administrative expense">220,000 included in accounts payable and accrued expense on the accompanying consolidated balance sheets, respectively. Promissory Note — Related Party On December 29, 2020, the Sponsor issued an unsecured promissory note to the Company (the “Promissory Note”), pursuant to which the Company could borrow up to an aggregate principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_c20201229__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zkAht0YDDIQ" title="Debt instrument, face amount">300,000. The Promissory Note was non-interest bearing and payable on the earlier of (i) July 31, 2021 or (ii) the completion of the Initial Public Offering. The outstanding amount of $<span id="xdx_905_ecustom--AdvancesFromRelatedPartyCurrent_iI_c20201229__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zWaEwH2uoVF3" title="Due to related parties current">171,357 was repaid after the closing of the Initial Public Offering on March 9, 2021. Borrowings under the Promissory Note are no longer available. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Related Party Advance On March 3, 2023, the Sponsor advanced the Company $<span id="xdx_90B_eus-gaap--ProceedsFromCollectionOfLongtermLoansToRelatedParties_c20230303__20230303__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_z2YFLrmXg1ok" title="Proceeds from advances to related parties">50,000. On April 18, 2023, July 26, 2023, August 28, 2023, September 28, 2023, and October 24, 2023, the Sponsor advanced the Company an additional $<span id="xdx_90C_eus-gaap--ProceedsFromCollectionOfLongtermLoansToRelatedParties_c20230418__20230418__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zLUKBwMNG626" title="Proceeds from advances to related parties">250,000, $<span id="xdx_907_eus-gaap--ProceedsFromCollectionOfLongtermLoansToRelatedParties_c20230726__20230726__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zXtjWCfSYEk1" title="Proceeds from advances to related parties">100,000, $<span id="xdx_909_eus-gaap--ProceedsFromCollectionOfLongtermLoansToRelatedParties_c20230828__20230828__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zA5bXuRZUUC2" title="Proceeds from advances to related parties">100,000, $<span id="xdx_902_eus-gaap--ProceedsFromCollectionOfLongtermLoansToRelatedParties_c20230928__20230928__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_z5QZvquQAyu5" title="Proceeds from advances to related parties">75,000 and $<span id="xdx_907_eus-gaap--ProceedsFromCollectionOfLongtermLoansToRelatedParties_c20231024__20231024__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zQWXtfWirpWf" title="Proceeds from advances to related parties">75,000, respectively. The related party advances are non-interest bearing and payable upon demand. As of December 31, 2023 and 2022, the Company had $650,000 and $0 included in related party advances in the accompanying consolidated balance sheets, respectively. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes a Business Combination, the Company may repay the Working Capital Loans. Otherwise, the Working Capital Loans may be repaid only out of funds held outside the Trust Account. The Working Capital Loans would either be repaid upon consummation of a Business Combination or, at the lender’s discretion, up to $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent_iI_c20231231__us-gaap--RelatedPartyTransactionAxis__custom--WorkingCapitalLoanMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zE1A2ly4aenj" title="Debt instrument convertible into warrants">1,500,000 of such Working Capital Loans may be convertible into warrants of the post-Business Combination entity at a price of $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20231231__us-gaap--RelatedPartyTransactionAxis__custom--WorkingCapitalLoanMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zxRCXWqHE6G5" title="Debt instrument conversion price">1.50 per warrant. Such warrants would be identical to the Private Placement Warrants. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. As of December 31, 2023 and 2022, there were no working capital loans outstanding. Non-Redemption Agreement On February 28, 2023, the Sponsor entered into Non-Redemption Agreements with various shareholders of the Company pursuant to which these shareholders have committed not to redeem their Class A Ordinary Shares of the company in connection with the Extension Meeting held on March 3, 2023, but still retained their right to redeem their respective shares in connection with the closing of a Business Combination. The commitment to not redeem was accepted by holders of 400,000 shares of Class A Ordinary Shares. In consideration of these agreements, the Sponsor has agreed to transfer <span id="xdx_90C_ecustom--NumberOfSharesToBeTransferredAmongstTheRelatedPartiesInterestUponConsummationOfBusinessCombination_c20230228__20230228__custom--AgreementAxis__custom--SponsorAgreementMember__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassAMember_z1FYnsYVl4Vb" title="Number of shares to be transferred amongst the related parties interest upon consummation of business combination">1,612,500 of its Class B Ordinary shares to each of the Non-Redeeming Shareholders at the closing of a Business Combination. Each shareholder committed to maintain, and not to redeem at the Extension Meeting, the lesser of (i) 400,000 Class A Ordinary Shares and (ii) <span id="xdx_900_ecustom--PercentageOfIdentifiedShares_iI_c20230228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassAMember_zSR96wXjvlX1" title="Percentage of identified shares">9.9% of the Company’s Class A Ordinary Shares. The Company estimated the aggregate fair value of the <span id="xdx_900_ecustom--EstimatedFairValueOfNonRedeemingShares_iI_c20230228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassAMember_zVA9N3lBDNBk" title="Estimated fair value of non redeeming shares">1,612,500 founders shares attributable to the Non-Redeeming Shareholders to be $<span id="xdx_900_ecustom--EstimatedFairValueOfNonRedeemingSharesValue_iI_c20230228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassAMember_zY1Lg0HxSTM7" title="Estimated fair value of non redeeming shares value">7,291,533 or $<span id="xdx_904_ecustom--EstimatedFairValueOfNonRedeemingSharesPerShare_iI_c20230228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__custom--NonRedeemableCommonClassAMember_zUO5W2M66Bbb" title="Estimated fair value of non redeeming shares per share">4.99 per share. Each Non-Redeeming Shareholder acquired from the Sponsor an indirect economic interest in the founder shares. The excess of the fair value of the founder shares was determined to be an offering cost in accordance with Staff Accounting Bulletin Topic 5A. Accordingly, in substance, it was recognized by the Company as a capital contribution by the Sponsor to induce these holders of the Class A Ordinary Shares not to redeem, with a corresponding expense related to non-redemption agreements of $<span id="xdx_90B_ecustom--ExpensesIncurredInConnectionWithNonRedemptionAgreement_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1eYBAzDsP84" title="Expenses incurred in connection with non redemption agreement">7,291,533 for the year ended December 31, 2023. On December 1, 2023, the Sponsor entered into Non-Redemption Agreements with various shareholders of the Company pursuant to which these shareholders have committed not to redeem their Class A Ordinary Shares of the company in connection with the Extension Meeting held on December 1, 2023, but still retained their right to redeem their respective shares in connection with the closing of a Business Combination. The commitment to not redeem was accepted by holders of <span id="xdx_909_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231201__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_ze1rzZgG1D35" title="Ordinary shares subject to possible redemption">1,971,536 shares of Class A Ordinary Shares. In consideration of these agreements, the Sponsor has agreed to transfer <span id="xdx_903_eus-gaap--CommonStockSharesOutstanding_iI_c20231201__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zQaMIyZue4Mb" title="Common stock shares outstanding">246,443 of its Class B Ordinary shares to the Non-Redeeming Shareholders at the closing of a Business Combination. Each shareholder committed to maintain, and not to redeem at the Extension Meeting, the lesser of (i) <span id="xdx_905_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231201__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--NonRedeemableCommonClassAMember_za5ngB8g7cM6" title="Temporary equity, shares outstanding">400,000 Class A Ordinary Shares and (ii) 9.9% of the Company’s Class A Ordinary Shares. The Company estimated the aggregate fair value of the <span id="xdx_900_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231201__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zsc6BkFjQ4g3" title="Ordinary shares subject to possible redemption">246,443 founders shares attributable to the Non-Redeeming Shareholders to be $<span id="xdx_907_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iI_c20231201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3RMIkqhBJee" title="Temporary equity, par value">1,323,008 or $<span id="xdx_908_eus-gaap--TemporaryEquityParOrStatedValuePerShare_iI_c20231201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zc5lHNnB4ZFe" title="Temporary equity, par or stated value per share">5.37 per share. Each Non-Redeeming Shareholder acquired from the Sponsor an indirect economic interest in the founder shares. The excess of the fair value of the founder shares was determined to be an offering cost in accordance with Staff Accounting Bulletin Topic 5A. Accordingly, in substance, it was recognized by the Company as a capital contribution by the Sponsor to induce these holders of the Class A Ordinary Shares not to redeem, with a corresponding expense related to non-redemption agreements of $<span id="xdx_901_ecustom--ExpensesIncurredInConnectionWithNonRedemptionAgreements_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGp2sYj2tKS2" title="Expenses incurred in connection with non redemption agreements">1,323,008 for the year ended December 31, 2023. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <p id="xdx_89A_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zLv0xhWUzM63" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The fair value of the founders shares was based on the following significant inputs: SCHEDULE OF FAIR VALUE OF FOUNDER SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20230228_zrBJ84vaPPyj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">February 28, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20231231_z3lbu69zNWmf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 1, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_z1c8jCn7Qhyc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.72</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.38</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uYears_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zGgB2jkrX4Kk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining life of the Company</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.76</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.42</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputProbabilityOfOccruenceOfBusinessCombinationOneMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zxPZrcLdZ5Pj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Value if De-SPAC scenario</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10.21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10.67</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zw48e9UIbOD6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Value in no De-SPAC scenario</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputProbabilityOfTransactionMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zlIKetdUNJM" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Probability of transaction</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50.00</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uYears_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputPresentValueFactorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zguXy1CdNWm1" style="vertical-align: bottom; background-color: White"> <td>Present value factor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.01</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uYears_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputPresentValueFactorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zdUJhDMqLlJk" style="display: none; vertical-align: bottom; background-color: White"> <td>Equity securities, FV-NI, measurement input</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.01</td><td style="text-align: left"> </td></tr> </table>

25000

7187500

1437500

8625000

1125000

0.20

888732

12.00

P20D P30D P150D

10000

120000

340000

220000

300000

171357

50000

250000

100000

75000

650000 0

1500000

1.50

400000

1612500

400000

0.099 1612500 7291533 4.99 7291533

1971536

246443

400000

9.09

246443

1323008

5.37

1323008

<p id="xdx_89A_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zLv0xhWUzM63" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The fair value of the founders shares was based on the following significant inputs: SCHEDULE OF FAIR VALUE OF FOUNDER SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20230228_zrBJ84vaPPyj" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">February 28, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20231231_z3lbu69zNWmf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 1, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_z1c8jCn7Qhyc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.72</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.38</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uYears_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zGgB2jkrX4Kk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining life of the Company</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.76</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.42</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputProbabilityOfOccruenceOfBusinessCombinationOneMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zxPZrcLdZ5Pj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Value if De-SPAC scenario</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10.21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10.67</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zw48e9UIbOD6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Value in no De-SPAC scenario</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputProbabilityOfTransactionMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zlIKetdUNJM" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Probability of transaction</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50.00</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uYears_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputPresentValueFactorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zguXy1CdNWm1" style="vertical-align: bottom; background-color: White"> <td>Present value factor</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.01</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uYears_hus-gaap--MeasurementInputTypeAxis__custom--MeasurementInputPresentValueFactorMember__us-gaap--StatementEquityComponentsAxis__custom--FounderSharesMember_zdUJhDMqLlJk" style="display: none; vertical-align: bottom; background-color: White"> <td>Equity securities, FV-NI, measurement input</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.01</td><td style="text-align: left"> </td></tr> </table>

4.72

5.38

0.76

0.42

10.21

10.67

0.00

50.00

0.97

1.01

0.97

1.01

NOTE 7. COMMITMENTS AND CONTINGENCIES Risks and Uncertainties Management continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or the completion of the Business Combination, the specific impact is not readily determinable as of the date of these consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Various social and political circumstances in the United States and around the world (including wars and other forms of conflict, including rising trade tensions between the United States and China, and other uncertainties regarding actual and potential shifts in the United States and foreign, trade, economic and other policies with other countries, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics) may also contribute to increased market volatility and economic uncertainties or deterioration in the United States and worldwide. Specifically, the rising conflict between Russia and Ukraine, and resulting market volatility could adversely affect the Company’s ability to complete a business combination. In response to the conflict between Russia and Ukraine, the United States and other countries have imposed sanctions or other restrictive actions against Russia. Any of the above factors, including sanctions, export controls, tariffs, trade wars and other governmental actions, could have a material adverse effect on the Company’s ability to complete a business combination and the value of the Company’s securities. Registration Rights Pursuance to a registration rights agreement entered into on March 4, 2021, the holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of the Working Capital Loans) will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of the Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 In addition, the holders have certain “piggyback” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination. However, the registration and shareholder rights agreement provide that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lockup period, which occurs (i) in the case of the Founder Shares, and (ii) in the case of the Private Placement Warrants and the respective Class A ordinary shares underlying such warrants, 30 days after the completion of the Business Combination. The registration rights agreement does not contain liquidated damages or other cash settlement provisions resulting from delays in registering the Company’s securities. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company granted the underwriters a <span id="xdx_900_ecustom--NumberOfDaysAfterTheCompletionOfTheBusinessCombinationTerminationOfTheApplicableLockupPeriodOccurs_dtD_c20230101__20231231_zon5dqXeMJLf" title="Number of days after the completion of the business combination">45-day option from the date of the Initial Public Offering to purchase up to <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pp0d_c20230101__20231231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zCRDFfIxKqA" title="Stock issued during period">4,500,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. On March 5, 2021, the underwriters elected to partially exercise their over-allotment option to purchase an additional <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210305__20210305__custom--EventAxis__custom--PartialExerciseOfOverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_ze4HHej5P33h" title="Stock issued during period">945,072 Units and their option to purchase an additional 3,554,928 Units expired. The underwriters are entitled to a deferred fee of $0.35 per Unit, or $10,830,775 in the aggregate. The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement. On November 1, 2023, Citi Global Markets, Inc. agreed to waive its entitlement to its portion of the deferred underwriting commission of $10,397,544 to which it became entitled upon completion of the Company’s Initial Public Offering. As a result, the Company derecognized the deferred underwriting fee payable of $<span id="xdx_900_ecustom--AdjustmentToAdditionalPaidInCapitalDeferredUnderwritingCommissionWaived_c20230101__20231231_zs4IHWtXnGl6" title="Adjustment to additional paid in capital deferred underwriting commission waived">10,397,544 and recorded $<span id="xdx_909_ecustom--StockholdersEquityForgivenessOfDeferredUnderwritingFees_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_zx0bRC7VoxM" title="Stockholders equity forgiveneess of deferred underwriting fees">10,049,200 of the forgiveness of the deferred underwriting fee allocated to Public Shares to the carrying value of the shares of Class A ordinary shares and the remaining balance of $<span id="xdx_90E_ecustom--GainOnExtinguishmentOfUnderwritingLiabilityRecognizedInIncomeStatement_c20230101__20231231_zaOQoXqkAUF6" title="Gain on extinguishment of underwriting liability recognized in income statement">348,344 was as a gain from extinguishment of liability allocated to warrant liabilities and is included in forgiveness of deferred underwriting fee on the Company’s consolidated statements of operations. As of December 31, 2023 and 2022, the deferred underwriting fee payable is $433,231 and $10,830,775, respectively. Consulting Agreement On January 27, 2021, the Company entered into a Consulting Agreement for financial advisory services. The Company agrees to pay the consultant $2,000,000 and reimburse the consultant for all reasonable and documented expenses, which shall be earned upon announcement of an initial Business Combination and payable at the closing of the initial Business Combination. As of December 31, 2023 and 2022, the Company had $<span id="xdx_908_eus-gaap--AccruedProfessionalFeesCurrent_iI_c20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember__custom--AgreementTypeAxis__custom--ConsultingAgreementMember_zS0KzVGdwfO5" title="Professional fees payable"><span id="xdx_900_eus-gaap--AccruedProfessionalFeesCurrent_iI_c20221231__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember__custom--AgreementTypeAxis__custom--ConsultingAgreementMember_zeSSshHRaskl" title="Professional fees payable">2,000,000 included in accounts payable and accrued expenses on the accompanying consolidated balance sheets. Business Combination Agreement On July 25, 2022, the Company entered into the Business Combination Agreement, by and among the Company, Merger Sub and GloriFi which was subsequently terminated on January 26, 2023. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 Business Combination Expense Reimbursement Agreement On February 21, 2022, the Company and GloriFi entered into an agreement pursuant to which GloriFi agreed to reimburse the Company certain business combination related expenses. Termination of GloriFi Business Combination Agreement On January 26, 2023, the Company sent GloriFi written notice that the Company had terminated the Business Combination Agreement, pursuant to Section 9.01(i) and Section 9.01(f) the Business Combination Agreement. The Company’s decision to terminate the Business Combination Agreement took into account the fact that GloriFi publicly announced that GloriFi was winding down its operations and closing its digital banking platform and other products. As a result of the termination of the Business Combination Agreement, each of the Ancillary Agreements (as defined in the Business Combination Agreement) was terminated. Capital Markets Advisor Agreement On February 27, 2023, the Company engaged an advisor (the “Advisor”) as its capital markets advisor in connection with seeking an extension for completing a business combination and capital markets advisor in connection with a private placement of equity, equity-linked, convertible and/or debt securities or other capital or debt raising transaction in connection with a possible business combination transaction with a third party (“Target”). Pursuant to this agreement, contingent on the close of a business combination, the Company agreed to pay the Advisor a transaction fee in an amount equal to $2,000,000 plus an amount equal to <span id="xdx_90E_ecustom--AdditionalTransactionFeesPayableAsAPercentageOfAmountRaisedFromInvestors_iI_pid_dp_uPure_c20230227__custom--AgreementTypeAxis__custom--CapitalMarketAdvisoryAgreementMember_zTgBNT1ALlbf" title="Additional transaction fees payable as a percentage of amount raised from investors">4.0% of the sum of the gross proceeds raised from investors identified by the Advisor and received by the Company or Target simultaneously with or before the closing of the Offering and the proceeds released from the Trust Account in connection with the business combination with respect to any shareholder of the Company that entered into a non-redemption or other similar agreement or did not redeem Client’s Class A ordinary shares, in each instance to the extent such shareholder was identified to Company by the Advisor. Business Combination Agreement On September 7, 2023, the Company entered into the Business Combination Agreement, by and among the Company, Merger Sub and BEN which is discussed in greater detail in Note 1. Legal Fees On August 12, 2023, the Company and BEN entered into an agreement with the Company’s legal advisors (“Legal Advisor”), where it is agreed that $4,000,000 will be paid to the Legal Advisors at closing of the Business Combination with the remaining amounts of such legal fees and expenses which shall not exceed $<span id="xdx_901_ecustom--RemainingCommitmentAmountPostBusinessCombination_iI_c20230812__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember_zOXamlsz1Nh2" title="Remaining commitement amount post business combination maximum">1,750,000. As of December 31, 2023 and 2022, $<span id="xdx_908_eus-gaap--AccruedProfessionalFeesCurrent_iI_c20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherCurrentLiabilitiesMember__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember_zFz07quFvbQe" title="Accounts payable and accrued expenses">4,380,958 and $<span id="xdx_90C_eus-gaap--AccruedProfessionalFeesCurrent_iI_c20221231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherCurrentLiabilitiesMember__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember_zkJ5Lz2cV58j" title="Accounts payable and accrued expenses">2,691,769, respectively, is included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheet. On March 14, 2024, the agreement was amended, where the total consideration to be paid to the Legal Advisor shall be $<span id="xdx_905_ecustom--ConsiderationPaid_iI_c20240314__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zjZMGLmDGkK" title="Consideration Paid">3,500,000. The Company and BEN jointly agree to pay $<span id="xdx_90D_ecustom--RemainingCommitmentAmountPostBusinessCombination_iI_c20240314__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zNfLEd7SfyHa" title="Remaining commitment amount post business combination">500,000 at the closing of the Business Combination. The remaining legal fees and expenses shall be paid, as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">$<span id="xdx_909_ecustom--CaptialRaisedInTheFormOfDebtOrEquity_c20240101__20241231__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zVQf0tmWnAX2" title="Captial raised in the form of debt or equity">1,000,000 at the closing of any capital raised by BEN at any time in any form debt or equity in the year ended December 31, 2024 with proceeds in excess of $<span id="xdx_905_ecustom--ProceedsRaisedFromCaptial_c20240101__20241231__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zeX5qojZxL7i" title="Proceeds raised from captial">5,000,000, which amounts would be an advance on the following obligations </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">$<span id="xdx_904_ecustom--PrincipleConsiderationPayable_c20240101__20241231__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zrdOXYTomAj6" title="Principle consideration payable">1,750,000 by ended of the year ended December 31, 2024, to be paid in monthly installments of $<span id="xdx_90A_ecustom--MonthlyInstallementOfPrincipleConsiderationPayable_c20240101__20241231__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zoqvmSzpZ6bh" title="Monthly installement of principle consideration payable">145,833 starting on June 1, 2024 </td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">$<span id="xdx_903_ecustom--PrincipleConsiderationPayable_c20250101__20251231__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zfeVkQhkYbp1" title="Principle consideration payable">1,250,000 by ended of the year ended December 31, 2025, to be paid in monthly installments of $<span id="xdx_901_ecustom--MonthlyInstallementOfPrincipleConsiderationPayable_c20250101__20251231__us-gaap--OtherCommitmentsAxis__custom--AgreementWithTheCompaniesLegalAdvisorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zZaCHjfWMUxf" title="Monthly installement of principle consideration payable">125,000 starting on March 14, 2025 </td></tr> </table>

P30D P45D

4500000

945072

3554928

0.35 10830775 10397544 10397544 10049200 348344 433231 10830775 2000000

2000000

2000000 0.040

4000000

1750000

4380958

2691769

3500000 500000 1000000 5000000 1750000 145833 1250000 125000

NOTE 8. SHAREHOLDERS’ DEFICIT SHAREHOLDERS’ EQUITY/DEFICIT Preference Shares—The Company is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2023 and 2022, there were no preference shares issued or outstanding. Class A Ordinary Shares—The Company is authorized to issue 500,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. At December 31, 2023 and 2022, there were 2,057,453 and 30,945,072 shares of Class A ordinary shares subject to possible redemption, respectively, which are presented as temporary equity. Class B Ordinary Shares—The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share. Holders of Class B ordinary shares are entitled to one vote for each share. At December 31, 2023 and 2022, there were 7,736,268 shares of Class B ordinary shares issued and outstanding. Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of shareholders, except as required by law; provided that only holders of Class B ordinary shares have the right to vote on the appointment of directors prior to the Company’s initial Business Combination. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination on a one-for-one basis, subject to adjustment. In the case that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering and related to the closing of a Business Combination, the ratio at which Class B ordinary shares shall convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, <span id="xdx_907_ecustom--PercentageOfSumOfOrdinarySharesIssuedAndOutstanding_iI_pid_dp_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zyLquLL5Yg96" title="Percentage of sum of ordinary shares issued and outstanding">20% of the sum of all ordinary shares issued and outstanding upon completion of the Initial Public Offering plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with the Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the Business Combination and any private placement-equivalent warrants issued to the Sponsor or its affiliates upon conversion of loans made to the Company).

5000000

0.0001

500000000

0.0001

one vote for each share

2057453

30945072

50000000

0.0001

one vote for each share

7736268

one-for-one basis

0.20 NOTE 9. WARRANT LIABILITIES As of December 31, 2023 and 2022, there were 10,315,024 Public Warrants outstanding. Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The Public Warrants will become exercisable on the later of (a) <span id="xdx_906_ecustom--ClassOfWarrantsOrRightsPeriodAfterWhichTheWarrantsOrRightsAreExercisable_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zmifIfSYfVBi" title="Class of warrants or rights period after which the warrants or rights are exercisable">one year from the closing of the Initial Public Offering and (b) <span id="xdx_90B_ecustom--ClassOfWarrantOrRightDaysFromWhichWarrantsOrRightsExercisable_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zkYf4hghyaMf" title="Class of warrant or right days from which warrants or rights exercisable">30 days after the completion of a Business Combination. The Public Warrants will expire <span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z4sktjuwVQZd" title="Class of warrants or rights period after which the warrants or rights are exercisable">five years after the completion of a Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration, or a valid exemption from registration is available. No Public Warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption is available. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 The Company has agreed that as soon as practicable, but in no event later than twenty business days after the closing of the Company’s Business Combination, the Company will use its commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants, and the Company will use its commercially reasonable efforts to cause the same to become effective within <span id="xdx_903_ecustom--NumberOfDaysAfterConsummationOfBusinessCombinationWithinWhichSecuritiesRegistrationShallBecomeEffective_dtD_c20230101__20231231_zs5bhBORjxN9" title="Number of days after consummation of business combination within which registration with securities exchange commission shall be effective">60 business days after the closing of a Business Combination, and to maintain the effectiveness of such registration statement and a current prospectus relating to those Class A ordinary shares until the warrants expire or are redeemed, as specified in the warrant agreement; provided that the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but will use its commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. Once the warrants become exercisable, the Company may redeem the Public Warrants for redemption (Redemption of warrants when the price per Class A ordinary share equals or exceeds $<span id="xdx_905_eus-gaap--SharePrice_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSvfboXAvwmh" title="Share price">18.00): <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">in whole and not in part; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">at a price of $<span id="xdx_906_ecustom--ClassOfWarrantsOrRightsRedemptionPricePerWarrantOrRight_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqoj5c3payel" title="Class of warrants or rights, redemption price per warrant or right">0.01 per warrant;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">upon a minimum of <span id="xdx_906_ecustom--ClassOfWarrantsOrRightsNoticeOfRedemptionPeriod_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyhq3zHMH6f5" title="Class of warrants or rights, notice of redemption period">30 days’ prior written notice of redemption to each warrant holder; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">if, and only if, the closing price of the Class A ordinary shares equals or exceeds $<span id="xdx_90C_eus-gaap--SharePrice_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ziZ94rRdjjYg" title="Share price">18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any <span id="xdx_90B_ecustom--NumberOfTradingDaysDeterminingClosingPriceOfOrdinaryShares_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOQ8JwCegHKj" title="Number of trading days determining closing price of ordinary shares">20 trading days within a <span id="xdx_90C_ecustom--NumberOfConsecutiveTradingDaysForDeterminingTheClosingPriceOfShares_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLuulXJkMqJa" title="Number of consecutive trading days for determining the closing price of shares">30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders.</td></tr> </table> The Company will not redeem the warrants unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary shares is available throughout the <span id="xdx_901_ecustom--PeriodDuringTheRegisteredProspectusShallBeAvailableForTheRedemptionOfWarrants_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceOneMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9AKjyFYGwKa" title="Period during which the registered propsectus shall be available for warrant redemption">30-day redemption period. If and when the warrants become redeemable the Company may exercise its redemption right even if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of warrants when the price per Class A ordinary share equals or exceeds $<span id="xdx_905_eus-gaap--SharePrice_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceTwoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z8gTh8V47bF" title="Share price">10.00. Once the warrants become exercisable, the Company may redeem the outstanding warrants: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">in whole and not in part; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">at $<span id="xdx_90A_ecustom--ClassOfWarrantsOrRightsRedemptionPricePerWarrantOrRight_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceTwoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGA9FurP1LI" title="Class of warrants or rights, redemption price per warrant or right">0.10 per warrant upon a minimum of <span id="xdx_903_ecustom--ClassOfWarrantsOrRightsNoticeOfRedemptionPeriod_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceTwoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFE0gnFEDNk4" title="Class of warrants or rights, notice of redemption period">30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the “fair market value” of the Class A ordinary shares; </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">if, and only if, the closing price of the Class A ordinary shares equals or exceeds $<span id="xdx_90B_eus-gaap--SharePrice_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceTwoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zlXRukIK9a0i" title="Share price">10.00 per public share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any <span id="xdx_90E_ecustom--NumberOfTradingDaysDeterminingClosingPriceOfOrdinaryShares_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceTwoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKjY0Qa7Pdi6" title="Number of trading days determining closing price of ordinary shares">20 trading days within the <span id="xdx_90A_ecustom--NumberOfConsecutiveTradingDaysForDeterminingTheClosingPriceOfShares_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__custom--RedemptionTriggerPriceAxis__custom--RedemptionTriggerPriceTwoMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQ51aBYYBLUe" title="Number of consecutive trading days for determining the closing price of shares">30-trading-day period ending three trading days before the Company send the notice of redemption to the warrant holders; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">if the closing price of the Class A ordinary shares for any <span id="xdx_903_ecustom--NumberOfTradingDaysDeterminingClosingPriceOfOrdinaryShares_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLP9UvGpk6eh" title="Number of trading days determining closing price of ordinary shares">20 trading days within a <span id="xdx_908_ecustom--NumberOfConsecutiveTradingDaysForDeterminingTheClosingPriceOfShares_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6TvOoFPR743" title="Number of consecutive trading days for determining the closing price of shares">30-trading-day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders is less than $<span id="xdx_907_eus-gaap--SharePrice_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNitGBlyRDcc" title="Share price">18.00 per share, the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding public warrants.</td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 In addition, if (x) the Company issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_c20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbMTNxXa2zH" title="Sale of stock issue price per share">9.20 per ordinary share (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than <span id="xdx_90C_ecustom--ProceedsToBeUsedForBusinessCombinationAsAPercentageOfTotalProceeds_pid_dp_uPure_c20230101__20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxP4mopIUB5i" title="Proceeds to be used for business combination as a percentage of total equity proceeds">60% of the total equity proceeds, and interest thereon, available for the funding of the initial business combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Class A ordinary shares during the <span id="xdx_90C_ecustom--NumberOfTradingDaysForDeterminingTheVolumeWeightedAveragePriceOfShares_dtD_c20230101__20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zokX45hnq3m3" title="Number of trading days for determining volume weighted average trading price of the ordinary shares">20 trading day period starting on the trading day prior to the day on which the Company consummates its initial business combination (such price, the “Market Value”) is below $<span id="xdx_908_ecustom--VolumeWeightedAverageTradingPriceOfShares_c20230101__20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zddFcupubM9k" title="Volume weighted average trading price of shares">9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to <span id="xdx_904_ecustom--ClassOfWarrantsOrRightsExercisePriceAsAPercentageOfNewlyIssuedPrice_pid_dp_uPure_c20230101__20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvh5J2ZIXTa8" title="Class of warrants or rights, Exercise price as a percentage of newly issued price">115% of the higher of the Market Value and the Newly Issued Price, the $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrs5eymSXICi" title="Newly issued price per share">18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to <span id="xdx_90E_ecustom--ClassOfWarrantsOrRightsExercisePriceAsAPercentageOfNewlyIssuedPrice_pid_dp_uPure_c20230101__20231231__custom--EventAxis__custom--EventTriggeringAdjustmentToExercisePriceOfWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__custom--WarrantExercisePriceAxis__custom--WarrantExercisePriceTwoMember_zIjHXflnPtVg" title="Class of warrants or rights, Exercise price as a percentage of newly issued price">180% of the higher of the Market Value and the Newly Issued Price, and the $<span id="xdx_90C_eus-gaap--SharePrice_iI_c20231231__custom--EventAxis__custom--ShareRedemptionTrigerPriceMember__custom--SharePriceRangeAxis__custom--SharePriceTenUsdMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zlmT7ykANX2l" title="Share price">10.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. As of December 31, 2023 and 2022, there were <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_zk8pVHiHhXp2" title="Class of warrants or rights, outstanding"><span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_zP2oHmVcsddh" title="Class of warrants or rights, outstanding">6,126,010 Private Placement Warrants outstanding. The Private Placement Warrants will be identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that (x) the Private Placement Warrants and the Class A ordinary shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until <span id="xdx_90B_ecustom--ClassOfWarrantsOrRightsLockInPeriod_dtD_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_zepbmUuULxQb" title="Class of warrants or rights lock in period">30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable as described above so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

10315024

P1Y P30D

P5Y

P60D

18.00

0.01 P30D

18.00

P20D P30D P30D

10.00

0.10 P30D

10.00

P20D P30D P20D P30D

18.00

9.20

0.60 P20D 9.20 1.15

18.00

1.80

10.00

6126010

P30D

NOTE 10. FAIR VALUE MEASUREMENTS The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in">Level 1:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom">Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Level 2:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom">Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Level 3:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom">Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.</td></tr> </table> BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 At December 31, 2023, assets held in the Trust Account were comprised of $22,040,092 of cash. At December 31, 2022, assets held in the Trust Account were comprised of $313,913,217 of money market funds which are invested primarily in U.S. Treasury Securities. <p id="xdx_89B_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_z26b1XUMvG5e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2023 and 2022, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF FAIR VALUE HIERARCHY VALUATION INPUTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Cash and investments held in Trust Account</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AssetsHeldInTrust_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zt2iCePI4LL5" style="width: 10%; text-align: right" title="Cash and investment held in trust account">22,040,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: center">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsHeldInTrust_iI_c20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zT9mUTUwygpa" style="width: 10%; text-align: right" title="Cash and investment held in trust account">313,913,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant Liabilities – Public Warrants</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zefs4Jb5teS4" style="text-align: right" title="Warrant Liability">206,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zazSVABVQDLi" style="text-align: right" title="Warrant Liability">103,150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant Liabilities – Private Placement Warrants</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z8AhAsz5Ykr2" style="text-align: right" title="Warrant Liability">122,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zbCFSk2DL1oi" style="text-align: right" title="Warrant Liability">61,260</td><td style="text-align: left"> </td></tr> </table> The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the Company’s accompanying December 31, 2023 and 2022 consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the consolidated statements of operations. The Company established the initial fair value for the Warrants on March 4, 2021, the date of the Company’s Initial Public Offering, using a Monte Carlo Simulation for the Private Placement Warrants and the Public Warrants. The subsequent measurements of the Public Warrants after the detachment of the Public Warrants from the Units was established by the public warrant price. The subsequent measurements of the Private Placement Warrants were established by using the closing price of the Public Warrants, an observable market quote for a similar asset in an active market. At December 31, 2023 and 2022, the Public Warrants have detached from the Units, and the closing price is utilized as the fair value. Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. On September 30, 2022, due to the lack of an active market, the estimated fair value of the Public Warrants transferred from a Level 1 measurement to a Level 2 fair value measurement was $<span id="xdx_90D_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersFromLevel1ToLevel3_c20230101__20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zUNywEEVWJWa" title="Fair value measurement with unobservable inputs reconciliation liability transfers from level1 to level3">1,031,502.

22040092

313913217

<p id="xdx_89B_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_z26b1XUMvG5e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2023 and 2022, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF FAIR VALUE HIERARCHY VALUATION INPUTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="5" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Cash and investments held in Trust Account</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AssetsHeldInTrust_iI_c20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zt2iCePI4LL5" style="width: 10%; text-align: right" title="Cash and investment held in trust account">22,040,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: center">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsHeldInTrust_iI_c20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zT9mUTUwygpa" style="width: 10%; text-align: right" title="Cash and investment held in trust account">313,913,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrant Liabilities – Public Warrants</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zefs4Jb5teS4" style="text-align: right" title="Warrant Liability">206,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zazSVABVQDLi" style="text-align: right" title="Warrant Liability">103,150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant Liabilities – Private Placement Warrants</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z8AhAsz5Ykr2" style="text-align: right" title="Warrant Liability">122,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iI_c20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--WarrantMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zbCFSk2DL1oi" style="text-align: right" title="Warrant Liability">61,260</td><td style="text-align: left"> </td></tr> </table>

22040092

313913217

206300

103150

122520

61260

1031502

NOTE 11. SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the consolidated financial statements were issued. Based upon this review, other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements. On January 11, 2024, the Company received a notice (the “Annual Meeting Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC stating that the Company failed to hold an annual meeting of stockholders within 12 months after its fiscal year ended December 31, 2022, as required by Nasdaq Listing Rule 5620(a). In accordance with Nasdaq Listing Rule 5810(c)(2)(G), the Company has 45 calendar days (or until February 26, 2024) to submit a plan to regain compliance and, if Nasdaq accepts the plan, Nasdaq may grant the Company up to 180 calendar days from its fiscal year end, or until June 28, 2024, to regain compliance. BRAND ENGAGEMENT NETWORK (F/K/A DHC ACQUISITION CORP) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2023 The Company intends to submit a compliance plan within the specified period. While the compliance plan is pending, the Company’s securities will continue to trade on Nasdaq. On March 5, 2024, the Company received a notice (the “Deadline Notice”) from the staff of the Listing Qualifications Department of Nasdaq indicating that, unless the Company timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”) by March 12, 2024, trading of the Company’s securities on The Nasdaq Capital Market would be suspended at the opening of business on March 14, 2024, due to the Company’s non-compliance with Nasdaq IM-5101-2, which requires that a special purpose acquisition company complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement. The Company timely requested a hearing before the Panel to request sufficient time to complete the Company’s previously disclosed Business Combination. In addition, the Deadline Notice indicated that the Company should be prepared to address the concerns raised in the Annual Meeting Notice in its hearing before the Panel related to the Deadline Notice. The hearing request resulted in a stay of any suspension or delisting action pending the outcome of the hearing. There can be no assurance that the Company will be able to satisfy Nasdaq’s continued listing requirements, regain compliance with Nasdaq IM-5101-2 or Nasdaq Listing Rule 5620(a), and maintain compliance with other Nasdaq listing requirements. While request for a hearing before the Panel is pending, the Company’s securities will continue to trade on Nasdaq. The Company expects that its non-compliance with Nasdaq IM-5101-2 has been resolved upon closing of the Business Combination. Pursuant to the Business Combination Agreement, on March 13, 2024, DHC changed its jurisdiction of incorporation by domesticating as a corporation incorporated under the laws of the State of Delaware in accordance with the Delaware General Corporation Law and the Companies Act (as revised) of the Cayman Islands. On the Closing Date, DHC consummated the previously announced business combination pursuant to the Business Combination Agreement, following approval thereof at the Special Meeting. On March 14, 2024, the Company and BEN amended the agreement with the Legal Advisors as described in Note 7.

the Company failed to hold an annual meeting of stockholders within 12 months after its fiscal year ended December 31, 2022, as required by Nasdaq Listing Rule 5620(a). In accordance with Nasdaq Listing Rule 5810(c)(2)(G), the Company has 45 calendar days (or until February 26, 2024) to submit a plan to regain compliance and, if Nasdaq accepts the plan, Nasdaq may grant the Company up to 180 calendar days from its fiscal year end, or until June 28, 2024, to regain compliance.

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NOTE A - NATURE OF OPERATIONS AND GOING CONCERN History Brand Engagement Network Inc. (formerly Blockchain Exchange Network Inc.) (together with its subsidiaries, “BEN” or “the Company”) was formed in Jackson, Wyoming on April 17, 2018, and was named in honor of the renowned Founding Father and inventor, Benjamin Franklin. In 2019, the Company became a wholly owned subsidiary of Datum Point Labs (“DPL”), and then was spun out of DPL in May 2021. BEN acquired DPL in December 2021. The recent developments of the business are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In November 2022, the Company determined that the AI industry had a higher likelihood, as compared to blockchain and other forms of data management, of long-term potential due to the rapidly evolving consumer demand for AI solutions.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In the fourth quarter of 2022, the Company’s management team, in consultation with its advisors, developed an internal strategy to execute on AI. Significant changes were made to the business, including abandoning a primary strategy involving blockchain, and completing an overhaul of the platform, a shift from business-to-consumer to business-to-business-to-consumer, and the development of a new business model and use cases.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In February 2023, DHC Acquisition Corp, a special purpose acquisition company, and the Company entered into a non-disclosure agreement for a potential business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">As the Company continued to look at acquisitions to further its strategy of consumer data management through AI, the Company identified an opportunity to acquire DM Lab (Note C). In March 2023, the Company provided a non-binding term sheet to DM Lab.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In April of 2023, the Company’s management team traveled to Korea to visit DM Lab. Because the Company believed DM Lab to be in distress, the Company believed DM Lab to be an attractive target for an acquisition given its technology, intellectual property and its existing collaboration with Korea University. As the Company performed diligence on DM Lab and the AI market, the Company determined that the acquisition was in the best interest of its shareholders.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In April 2023, the Company retained the services of, on a consulting basis, its Chief Executive Officer to provide consulting and professional services relating to the Company’s product development.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In April 2023, the Company undertook a convertible note offering with accredited investors with a conversion price of $1.00 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">In May 2023, the Company entered into an asset purchase agreement to purchase DM Lab.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">The Company still holds significant intellectual property in the form of a patent portfolio that the Company believes will be a cornerstone of its artificial intelligence solutions for certain industries that it expects to target, including the automotive, healthcare, and financial services industries.</td></tr> </table> Nature of Operations The Company is an innovative AI platform provider, designed to interface with emerging technologies, including blockchain, internet of things, and cloud computing, that drives digital transformation across various industries and provides businesses with unparalleled competitive edge. BEN offers a suite of configured and customizable applications, including natural language processing, anomaly detection, encryption, recommendation engines, sentiment analysis, image recognition, personalization, and real-time decision-making. These applications help companies improve customer experiences, optimize cost drivers, mitigate risks, and enhance operational efficiency. Going Concern The accompanying financial statements have been prepared as though the Company will continue as a going concern, which contemplates the realization of consolidated assets and satisfaction of liabilities in the normal course of business. As of and for the year ended December 31, 2023, the Company has an accumulated deficit of approximately $13.3 million, a net loss of approximately $11.7 million and net cash used in operating activities of approximately $5.1 million. Management expects to continue to incur operating losses and negative cash flows from operations for at least the next 12 months. The Company has financed its operations to date from proceeds from the sale of common stock, exercises of warrants, and issuance of debt. The Company’s current liquidity position raises substantial doubt about the Company’s ability to continue as a going concern. The Company believes that its existing cash and cash equivalents will be insufficient to meet its anticipated cash requirements for at least the next 12 months from the date the consolidated financial statements are issued. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon several factors including but not limited to the design, timing, and the progress of the Company’s research and development programs, and the level of financial resources available. The Company can adjust its operating plan spending based on available financial resources. The Company will need to raise additional capital to continue to fund operations and product research and development. The Company believes that it will be able to obtain additional working capital through equity financings, additional debt, or other arrangements to fund future operations; however, as of the date of these financial statements, no committed funding has been obtained, and there can be no assurance that such additional financing, if available, can be obtained on terms acceptable to the Company. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

2018-04-17

1.00

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NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the financial statements include, but are not limited to, assumptions used to measure stock-based compensation, the valuation of patents received in the acquisition of an entity under common control, and the Company also performs impairment testing on certain assets such as the indefinite lived intangible assets. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions. Segment and geographic information Operating segments are defined as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM), or decision-making group, in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The Company views its operations as, and manages its business in, one operating segment. The Company has an office in the Republic of Korea dedicated to research and development activities. The carrying value of long-lived assets held in the Republic of Korea was $1,012,291 as of December 31, 2023. Significant Risks and Uncertainties There can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a goods and services require significant time and capital and is subject to regulatory review and approval as well as competition from other AI technology companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits. Acquisitions Asset acquisitions are accounted for using the cost accumulation method while business combinations are accounted for at fair value. Determining whether the acquired set represents an asset acquisition, or a business combination requires quantitative and qualitative assessments subject to judgment. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions, as well as other information compiled by management, including projected financial information, effective income tax rates, present value discount factors, and long-term growth expectations. The Company utilizes third-party specialists to assist management with the identification and valuation of intangible assets using customary valuation procedures and techniques when required. Deferred Financing Costs The Company capitalizes costs that are directly associated with in-process equity financings until such financings are consummated, at which time such costs are recorded against the gross proceeds from the applicable financing. If a financing is abandoned, deferred financing costs are expensed immediately. As of December 31, 2023, the Company incurred $1,427,729 in deferred financing costs which are included within other assets in the accompanying consolidated balance sheet. Revenue Recognition and Accounts Receivables The Company accounts for revenue in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: 1) Identification of the Contract, or Contracts, with a Customer. 2) Identification of the Performance Obligations in the Contract. 3) Determination of the Transaction Price. 4) Allocation of the Transaction Price to the Performance Obligations in the Contract. 5) Recognition of Revenue when, or as, Performance Obligations are Satisfied. Trade receivables represent amounts due from customers and are stated net of the allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts, the aging of the accounts receivable, historical experience, and other currently available evidence. If there is a deterioration of a major customer’s credit worthiness or actual defaults are higher than the historical experience, management’s estimates of the recoverability of amounts due the Company could be adversely affected. Trade receivables of the Company as of December 31, 2023 and 2022 are net of allowance, amounting to $20,000 and $25,000, respectively. Impairment of Definite Lived Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds its estimated undiscounted net cash flows, before interest, the Company will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the asset. No impairment losses were recorded for the years ended December 31, 2023 and 2022. In-Process Research and Development The fair value of in-process research and development (“IPR&D”) acquired in an asset acquisition, that has been determined to have alternative future uses in accordance with ASC 350 Intangibles—Goodwill and Other, is capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. If the related research and development is completed, the asset is reclassified as a definite-lived asset at the time of completion and is amortized over its estimated useful life as research and development costs in accordance with ASC 730-10-25-2(c) and ASC 350. Indefinite-lived IPR&D is not subject to amortization but is tested annually for impairment or more frequently if there are indicators of impairment. The Company also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset shall be tested for impairment in accordance with paragraphs 350-30-35-18 through 35-19. That intangible asset shall then be amortized prospectively over its estimated remaining useful life and accounted for in the same manner as other intangible assets that are subject to amortization. The Company tests its indefinite-lived IPR&D annually for impairment during the fourth quarter. In testing indefinite-lived IPR&D for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that its fair value is less than its carrying amount, or the Company can perform a quantitative impairment analysis to determine the fair value of the indefinite-lived IPR&D without performing a qualitative assessment. Qualitative factors that the Company considers include significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If the Company chooses to first assess qualitative factors and the Company determines that it is more likely than not that the fair value of the indefinite-lived IPR&D is less than its carrying amount, the Company would then determine the fair value of the indefinite-lived IPR&D. Under either approach, if the fair value of the indefinite-lived IPR&D is less than its carrying amount, an impairment charge is recognized in the consolidated statements of operations. During the year ended December 31, 2023, the Company did not recognize an impairment charge related to its indefinite-lived IPR&D. Research and Development Costs Costs incurred in connection with research and development activities are expensed as incurred. These costs include rent for facilities, hardware and software equipment costs, consulting fees for technical expertise, prototyping, and testing. Stock Compensation The Company recognizes stock-based compensation for stock-based awards (including stock options, restricted stock units, and restricted stock awards) in accordance with ASC No. 718, Compensation - Stock Compensation (“ASC 718”). Determining the appropriate fair value of stock-based awards requires numerous assumptions, some of which are highly complex and subjective. The Company accounts for forfeitures in the period in which they occur. Stock-based awards generally vest subject to the satisfaction of service requirements. For stock-based awards that vest subject to the satisfaction of service requirements or market and service conditions, stock-based compensation is measured based on the fair value of the award on the date of grant and is recognized as stock-based compensation on a straight-line basis over the requisite service period. For stock-based awards that have a performance component, stock-based compensation is measured based on the fair value on the grant date and is recognized over the requisite service period as achievement of the performance objective becomes probable. The Company estimates the fair value of its stock option and warrant awards on the grant date using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the use of judgments and assumptions, including fair value of the Company’s common stock, the option’s expected term, the expected price volatility of the underlying stock, risk free interest rates and the expected dividend yield. The fair value of the Company’s restricted stock awards is estimated on the date of grant based on the fair value of the Company’s common stock. The Black-Scholes model assumptions are further described below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Common stock – the fair value of the Company’s common stock. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Term – The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company’s lack of sufficient historical data. The expected term of nonemployee options is equal to the contractual term. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Volatility - The Company lacks its own historical stock data. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-Free Interest Rate - The Company bases the risk-free interest rate on daily constant maturity treasury auction yields received as a proxy for the implied yield from strips.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.</td></tr> </table> Cash and Cash Equivalents The Company considers all highly liquid investments, readily convertible to cash, and which have a remaining maturity date of three months or less at the date of purchase, to be cash equivalents. Cash and cash equivalents are recorded at fair value and are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes. Capitalized internal-use software costs Pursuant to ASC 350-40, Internal-Use Software, the Company capitalizes development costs for internal use software projects once the preliminary project stage is completed, management commits to funding the project, and it is probable that the project will be completed, and the software will be used to perform the function intended. The Company ceases capitalization at such time as the computer software project is substantially complete and ready for its intended use. The determination that a software project is eligible for capitalization and the ongoing assessment of recoverability of capitalized software development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, estimated economic life and changes in software and hardware technologies. The Company capitalizes costs for internal-use software once project approval, funding, and feasibility are confirmed. These costs primarily consist of external consulting fees and direct labor costs. As of December 31, 2023, the cost of the Company’s capitalized internal-use software was $569,923, which is included within property and equipment, net in the accompanying consolidated balance sheet. No amortization expense has been incurred to date, as the internal-use software is not yet ready for its intended use. No impairment losses were recorded for the year ended December 31, 2023. Leases The Company has adopted an accounting policy which provides that leases with an initial term of 12 months or less will not be recognized as right-of-use assets and lease liabilities on its consolidated balance sheet. Lease payments associated with short-term leases are recognized as an expense on a straight-line basis over the lease term. The Company incurred $186,202 and $19,000 in short term lease expense for the years ended December 31, 2023 and 2022, respectively. Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable. Net Loss per Share Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase common stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price/conversion rate of the instruments. The Company accounts for stock issued in spin-out transactions and consummations of mergers of entities under common control retrospectively. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, potentially dilutive securities are not included in the calculation when the impact is anti-dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3gEGiwVORC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20230101__20231231_zPbrKuM3FVpk" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z86dYFrPV1x6" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zQJjntRLSUB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zcRXurpOfdC3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,850,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,100,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zwaGdNC8etx6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">12,850,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zmZ7VXLpac25" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average common shares</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">12,850,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it is able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company records an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. Interest and penalties are recognized associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s consolidated balance sheets. Recently Adopted Accounting Standards In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification of Initiative (“ASU 2023-06”). ASU 2023-06 incorporates several disclosure and presentation requirements into the FASB’s Accounting Standards Codification (the “Codification”) currently residing in SEC Regulation S-X and Regulation S-K. The effective date for each amendment in the Codification will be the date on which the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. ASU 2023-06 is not expected to have a significant impact on the Company. Effective January 1, 2023, the Company elected to early adopt ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” This update simplifies the accounting for convertible instruments by removing major separation models required under U.S. GAAP. The early adoption did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, which requires financial assets measured at amortized cost, including accounts receivables, be presented net of the amount expected to be collected. The measurement of all expected credit losses will be based on relevant information about the credit quality of customers, past events, including historical experience, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company adopted the guidance using a modified retrospective approach as of January 1, 2023 which resulted in no cumulative-effect adjustment to retained earnings. Recently Issued but Not Yet Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the effect of this pronouncement on its disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company is currently evaluating the effect of this pronouncement on its disclosures.

Basis of Presentation and Consolidation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates in the financial statements include, but are not limited to, assumptions used to measure stock-based compensation, the valuation of patents received in the acquisition of an entity under common control, and the Company also performs impairment testing on certain assets such as the indefinite lived intangible assets. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.

Segment and geographic information Operating segments are defined as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM), or decision-making group, in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The Company views its operations as, and manages its business in, one operating segment. The Company has an office in the Republic of Korea dedicated to research and development activities. The carrying value of long-lived assets held in the Republic of Korea was $1,012,291 as of December 31, 2023.

1012291

Significant Risks and Uncertainties There can be no assurance that the Company’s research and development will be successfully commercialized. Developing and commercializing a goods and services require significant time and capital and is subject to regulatory review and approval as well as competition from other AI technology companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting intellectual property.

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits.

Acquisitions Asset acquisitions are accounted for using the cost accumulation method while business combinations are accounted for at fair value. Determining whether the acquired set represents an asset acquisition, or a business combination requires quantitative and qualitative assessments subject to judgment. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions, as well as other information compiled by management, including projected financial information, effective income tax rates, present value discount factors, and long-term growth expectations. The Company utilizes third-party specialists to assist management with the identification and valuation of intangible assets using customary valuation procedures and techniques when required.

Deferred Financing Costs The Company capitalizes costs that are directly associated with in-process equity financings until such financings are consummated, at which time such costs are recorded against the gross proceeds from the applicable financing. If a financing is abandoned, deferred financing costs are expensed immediately. As of December 31, 2023, the Company incurred $1,427,729 in deferred financing costs which are included within other assets in the accompanying consolidated balance sheet.

1427729

Revenue Recognition and Accounts Receivables The Company accounts for revenue in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: 1) Identification of the Contract, or Contracts, with a Customer. 2) Identification of the Performance Obligations in the Contract. 3) Determination of the Transaction Price. 4) Allocation of the Transaction Price to the Performance Obligations in the Contract. 5) Recognition of Revenue when, or as, Performance Obligations are Satisfied. Trade receivables represent amounts due from customers and are stated net of the allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts, the aging of the accounts receivable, historical experience, and other currently available evidence. If there is a deterioration of a major customer’s credit worthiness or actual defaults are higher than the historical experience, management’s estimates of the recoverability of amounts due the Company could be adversely affected. Trade receivables of the Company as of December 31, 2023 and 2022 are net of allowance, amounting to $20,000 and $25,000, respectively.

20000

25000

Impairment of Definite Lived Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of the asset exceeds its estimated undiscounted net cash flows, before interest, the Company will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the asset. No impairment losses were recorded for the years ended December 31, 2023 and 2022.

In-Process Research and Development The fair value of in-process research and development (“IPR&D”) acquired in an asset acquisition, that has been determined to have alternative future uses in accordance with ASC 350 Intangibles—Goodwill and Other, is capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. If the related research and development is completed, the asset is reclassified as a definite-lived asset at the time of completion and is amortized over its estimated useful life as research and development costs in accordance with ASC 730-10-25-2(c) and ASC 350. Indefinite-lived IPR&D is not subject to amortization but is tested annually for impairment or more frequently if there are indicators of impairment. The Company also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset shall be tested for impairment in accordance with paragraphs 350-30-35-18 through 35-19. That intangible asset shall then be amortized prospectively over its estimated remaining useful life and accounted for in the same manner as other intangible assets that are subject to amortization. The Company tests its indefinite-lived IPR&D annually for impairment during the fourth quarter. In testing indefinite-lived IPR&D for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that its fair value is less than its carrying amount, or the Company can perform a quantitative impairment analysis to determine the fair value of the indefinite-lived IPR&D without performing a qualitative assessment. Qualitative factors that the Company considers include significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If the Company chooses to first assess qualitative factors and the Company determines that it is more likely than not that the fair value of the indefinite-lived IPR&D is less than its carrying amount, the Company would then determine the fair value of the indefinite-lived IPR&D. Under either approach, if the fair value of the indefinite-lived IPR&D is less than its carrying amount, an impairment charge is recognized in the consolidated statements of operations. During the year ended December 31, 2023, the Company did not recognize an impairment charge related to its indefinite-lived IPR&D.

Research and Development Costs Costs incurred in connection with research and development activities are expensed as incurred. These costs include rent for facilities, hardware and software equipment costs, consulting fees for technical expertise, prototyping, and testing.

Stock Compensation The Company recognizes stock-based compensation for stock-based awards (including stock options, restricted stock units, and restricted stock awards) in accordance with ASC No. 718, Compensation - Stock Compensation (“ASC 718”). Determining the appropriate fair value of stock-based awards requires numerous assumptions, some of which are highly complex and subjective. The Company accounts for forfeitures in the period in which they occur. Stock-based awards generally vest subject to the satisfaction of service requirements. For stock-based awards that vest subject to the satisfaction of service requirements or market and service conditions, stock-based compensation is measured based on the fair value of the award on the date of grant and is recognized as stock-based compensation on a straight-line basis over the requisite service period. For stock-based awards that have a performance component, stock-based compensation is measured based on the fair value on the grant date and is recognized over the requisite service period as achievement of the performance objective becomes probable. The Company estimates the fair value of its stock option and warrant awards on the grant date using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the use of judgments and assumptions, including fair value of the Company’s common stock, the option’s expected term, the expected price volatility of the underlying stock, risk free interest rates and the expected dividend yield. The fair value of the Company’s restricted stock awards is estimated on the date of grant based on the fair value of the Company’s common stock. The Black-Scholes model assumptions are further described below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Common stock – the fair value of the Company’s common stock. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Term – The expected term of employee options with service-based vesting is determined using the “simplified” method, as prescribed in the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option due to the Company’s lack of sufficient historical data. The expected term of nonemployee options is equal to the contractual term. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Volatility - The Company lacks its own historical stock data. Therefore, it estimates its expected stock volatility based primarily on the historical volatility of a publicly traded set of peer companies.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-Free Interest Rate - The Company bases the risk-free interest rate on daily constant maturity treasury auction yields received as a proxy for the implied yield from strips.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.</td></tr> </table>

Cash and Cash Equivalents The Company considers all highly liquid investments, readily convertible to cash, and which have a remaining maturity date of three months or less at the date of purchase, to be cash equivalents. Cash and cash equivalents are recorded at fair value and are held for the purpose of meeting short-term liquidity requirements, rather than for investment purposes.

Capitalized internal-use software costs Pursuant to ASC 350-40, Internal-Use Software, the Company capitalizes development costs for internal use software projects once the preliminary project stage is completed, management commits to funding the project, and it is probable that the project will be completed, and the software will be used to perform the function intended. The Company ceases capitalization at such time as the computer software project is substantially complete and ready for its intended use. The determination that a software project is eligible for capitalization and the ongoing assessment of recoverability of capitalized software development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, estimated economic life and changes in software and hardware technologies. The Company capitalizes costs for internal-use software once project approval, funding, and feasibility are confirmed. These costs primarily consist of external consulting fees and direct labor costs. As of December 31, 2023, the cost of the Company’s capitalized internal-use software was $569,923, which is included within property and equipment, net in the accompanying consolidated balance sheet. No amortization expense has been incurred to date, as the internal-use software is not yet ready for its intended use. No impairment losses were recorded for the year ended December 31, 2023.

569923

Leases The Company has adopted an accounting policy which provides that leases with an initial term of 12 months or less will not be recognized as right-of-use assets and lease liabilities on its consolidated balance sheet. Lease payments associated with short-term leases are recognized as an expense on a straight-line basis over the lease term. The Company incurred $186,202 and $19,000 in short term lease expense for the years ended December 31, 2023 and 2022, respectively.

186202

19000

Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable.

Net Loss per Share Basic loss per share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted loss per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase common stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price/conversion rate of the instruments. The Company accounts for stock issued in spin-out transactions and consummations of mergers of entities under common control retrospectively. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, potentially dilutive securities are not included in the calculation when the impact is anti-dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3gEGiwVORC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20230101__20231231_zPbrKuM3FVpk" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z86dYFrPV1x6" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zQJjntRLSUB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zcRXurpOfdC3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,850,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,100,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zwaGdNC8etx6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">12,850,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zmZ7VXLpac25" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average common shares</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">12,850,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3gEGiwVORC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20230101__20231231_zPbrKuM3FVpk" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z86dYFrPV1x6" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zQJjntRLSUB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zcRXurpOfdC3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,850,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,100,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zwaGdNC8etx6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">12,850,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zmZ7VXLpac25" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average common shares</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">12,850,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,100,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9000000

1000000

3850000

1100000

12850000

2100000

12850000

2100000

Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it is able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company records an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. Interest and penalties are recognized associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s consolidated balance sheets.

Recently Adopted Accounting Standards In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification of Initiative (“ASU 2023-06”). ASU 2023-06 incorporates several disclosure and presentation requirements into the FASB’s Accounting Standards Codification (the “Codification”) currently residing in SEC Regulation S-X and Regulation S-K. The effective date for each amendment in the Codification will be the date on which the SEC’s removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. ASU 2023-06 is not expected to have a significant impact on the Company. Effective January 1, 2023, the Company elected to early adopt ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” This update simplifies the accounting for convertible instruments by removing major separation models required under U.S. GAAP. The early adoption did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, which requires financial assets measured at amortized cost, including accounts receivables, be presented net of the amount expected to be collected. The measurement of all expected credit losses will be based on relevant information about the credit quality of customers, past events, including historical experience, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company adopted the guidance using a modified retrospective approach as of January 1, 2023 which resulted in no cumulative-effect adjustment to retained earnings.

Recently Issued but Not Yet Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the effect of this pronouncement on its disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which expands the disclosures required for income taxes. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendment should be applied on a prospective basis while retrospective application is permitted. The Company is currently evaluating the effect of this pronouncement on its disclosures.

NOTE C - ACQUISITION On <span id="xdx_907_eus-gaap--BusinessAcquisitionDateOfAcquisitionAgreement1_dd_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_z947kTmEkqy4" title="Date of acquisition aggrement">May 3, 2023, in connection with the development the Company’s core technology, the Company entered into an Asset Purchase Agreement with DM Lab Co., LTD (“DM Lab”), to acquire certain assets and assume certain liabilities in exchange for <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zacFcXpyq7Id" title="Shares issued for acquisition">16,012,750 common shares with a fair value of $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_ztfGI0dgvZf" title="Value of shares issued for acquisition">16,012,750 and $<span id="xdx_904_eus-gaap--BusinessCombinationConsiderationTransferred1_c20230503__20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zCOd17Qi1NCh" title="Cash consideration">257,112 in cash consideration including $<span id="xdx_903_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20230503__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_za0dFY98wm97" title="Transaction related cost">107,112 in transaction-related costs. The Company accounted for the transaction with DM Lab as an asset acquisition as the acquired set passed the screentest and as such did not meet the criteria to be considered a business according to ASC 805, Business Combinations. The total consideration paid including transaction-related costs was allocated to identifiable intangible and tangible assets acquired based on their acquisition date estimated fair values. The largest asset acquired was the in-process research and development intangible asset which the Company determined had alternative future uses and capitalized as an indefinite-lived intangible asset until the completion of the related research and development activities in accordance with ASC 350 or the determination that impairment is necessary. The in-process research and development intangible asset was valued using the multi-period excess earnings method which requires several judgements and assumptions to determine the fair value of intangible assets, including growth rates, EBITDA margins, and discount rates, among others. This nonrecurring fair value measurement is a Level 3 measurement within the fair value hierarchy. The following table summarizes the fair value of consideration transferred and its allocation to the assets acquired and liabilities assumed at their acquisition date fair values. <p id="xdx_890_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zaZapfrIirbk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"> SCHEDULE OF CONSIDERATION TRANSFERRED FOR ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20230503__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zTZkdeZXajx8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount Recognized</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_maBCRIAzMP7_zI88qtTUEzrh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">In-process research and development intangible asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">17,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzMP7_z6yY5veDXlZ7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Liabilities assumed</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_msBCRIAzMP7_zQDwJRSZkute" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzMP7_zut1nNl3yaFa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(249,779</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesShortTermDebt_iNI_di_msBCRIAzMP7_zeFAbAZUyNHg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Short-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,144,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzMP7_ziUjpn0jYEs9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets acquired and liabilities assumed</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">16,269,862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zDuC8dqEFMs8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total consideration</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16,269,862</td><td style="text-align: left"> </td></tr> </table>

2023-05-03

16012750

257112

107112

<p id="xdx_890_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zaZapfrIirbk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"> SCHEDULE OF CONSIDERATION TRANSFERRED FOR ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20230503__us-gaap--BusinessAcquisitionAxis__custom--DMLabCoLTDMember_zTZkdeZXajx8" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount Recognized</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_maBCRIAzMP7_zI88qtTUEzrh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">In-process research and development intangible asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">17,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzMP7_z6yY5veDXlZ7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721,916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Liabilities assumed</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_msBCRIAzMP7_zQDwJRSZkute" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(57,700</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzMP7_zut1nNl3yaFa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(249,779</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesShortTermDebt_iNI_di_msBCRIAzMP7_zeFAbAZUyNHg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Short-term debt</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,144,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzMP7_ziUjpn0jYEs9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets acquired and liabilities assumed</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">16,269,862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_zDuC8dqEFMs8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total consideration</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">16,269,862</td><td style="text-align: left"> </td></tr> </table>

17000000

721916

57700

249779

1144575

16269862

NOTE D – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following at December 31, 2023 and 2022: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20231231_zb6jRurJbyS3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221231_zjHVL0rVAXag" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SecurityDeposit_iI_maPEAOAznGd_zp09XtJeyDL9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Security deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PrepaidTaxes_iI_maPEAOAznGd_zoEEr4Sqi788" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid VAT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PrepaidLegalFees_iI_maPEAOAznGd_zNVYa3RH3sIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,713</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAznGd_zjfrARmNcAwe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Prepaid other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">78,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">250</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAznGd_zKgNQbxvAXx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Prepaid expenses and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Prepaid expenses and other current assets consisted of the following at December 31, 2023 and 2022: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20231231_zb6jRurJbyS3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20221231_zjHVL0rVAXag" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SecurityDeposit_iI_maPEAOAznGd_zp09XtJeyDL9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Security deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PrepaidTaxes_iI_maPEAOAznGd_zoEEr4Sqi788" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid VAT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,821</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PrepaidLegalFees_iI_maPEAOAznGd_zNVYa3RH3sIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,713</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAznGd_zjfrARmNcAwe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Prepaid other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">78,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">250</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAznGd_zKgNQbxvAXx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Prepaid expenses and other current assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,293</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

71300

7821

43713

78460

250

201293

250

NOTE E – PROPERTY AND EQUIPMENT, NET Property and equipment include equipment, furniture, and capitalized software. Furniture and equipment are depreciated using the straight-line method over estimated useful lives of <span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dt_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FurnitureAndEquipmentMember_zpZ7SJhMpzCd" title="Property and equipment useful life">three years. Capitalized software costs will be amortized straight-line over an estimated useful life ranging from <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember__srt--RangeAxis__srt--MinimumMember_z2vTJ0NPljKl" title="Property and equipment useful life">5 to <span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember__srt--RangeAxis__srt--MaximumMember_zyOFFPaT5nnl" title="Property and equipment useful life">10 years. There was no property and equipment at December 31, 2022. Property and equipment consisted of the following at December 31, 2023: SCHEDULE PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zcVWWOQb47b2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zp1vs17Qyl2e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">426,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0eR5gYscuBd" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember_z5KDmTjrIxA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Capitalized software</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">569,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz8P8_zMlEQ1GwKJfh" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz8P8_z0AfpAqzMDfe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(539,957</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz8P8_zySvQOHG5Ke3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net of accumulated depreciation and amortization</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">802,557</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> For the year ended December 31, 2023, depreciation and amortization of property and equipment totaled $539,957. There was no depreciation and amortization during the year ended December 31, 2022.

P3Y

P5Y

P10Y

Property and equipment consisted of the following at December 31, 2023: SCHEDULE PROPERTY AND EQUIPMENT NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zcVWWOQb47b2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zp1vs17Qyl2e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">426,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0eR5gYscuBd" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">346,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareMember_z5KDmTjrIxA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Capitalized software</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">569,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENz8P8_zMlEQ1GwKJfh" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENz8P8_z0AfpAqzMDfe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(539,957</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENz8P8_zySvQOHG5Ke3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net of accumulated depreciation and amortization</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">802,557</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

426000

346591

569923

1342514

539957

802557

539957

NOTE F – INTANGIBLE ASSETS The following table summarizes intangible assets with a finite useful life included on the consolidated balance sheet as of December 31, 2023 and 2022: SCHEDULE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Patent portfolio</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z9mn09t9SwR2" style="width: 12%; text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zr7cerPDqge3" style="width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(377,716</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zxzv6JDZy834" style="width: 12%; text-align: right" title="Finite-lived intangible assets, net">882,147</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Indefinite-lived intangible assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zx5lHQQMYxu4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zsiKzprcPAI9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zEYTNArDJiYb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20231231_z3lG5JtBtVEf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20231231_z7EloGvyfSMc" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(377,716</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20231231_zGgYlKPlamH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Amortizing intangible assets:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left; padding-bottom: 1.5pt">Patent portfolio</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z191lGEpHWj4" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, gross">880,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zSIJJGwNxYJ3" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(279,683</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zkFqoyOuzdrl" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, net">600,317</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20221231_zlzRSi5PRixi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">880,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20221231_z1eFJGXHLKpi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(279,683</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20221231_z2KBN4cjCgFf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">600,317</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Total amortization expenses were $98,033 and $76,928 for the years ended December 31, 2023 and 2022, respectively. Future amortization of intangible assets, net are estimated to be as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" id="xdx_492_20231231_zAZJOGJRB6l"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Years Ending December 31:</td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANz9cN_zptRUUzu8kLe" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">140,243</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANz9cN_z2N7ZkWRD7q4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANz9cN_zN9DQUSjkLHh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANz9cN_z4FGDNrCrK31" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANz9cN_zJUD9aqJLSNc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANz9cN_zOMGqK6DEAWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">180,932</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz9cN_zz566rVTEIxl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following table summarizes intangible assets with a finite useful life included on the consolidated balance sheet as of December 31, 2023 and 2022: SCHEDULE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortizing intangible assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left">Patent portfolio</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z9mn09t9SwR2" style="width: 12%; text-align: right" title="Finite-lived intangible assets, gross">1,259,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zr7cerPDqge3" style="width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(377,716</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zxzv6JDZy834" style="width: 12%; text-align: right" title="Finite-lived intangible assets, net">882,147</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Indefinite-lived intangible assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">In-process research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--IndefiniteLivedIntangibleAssetsGross_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zx5lHQQMYxu4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, gross">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--IndefiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zsiKzprcPAI9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, accumulated amortization">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_c20231231__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zEYTNArDJiYb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Indefinite-lived intangible assets, net">17,000,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20231231_z3lG5JtBtVEf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">18,259,863</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20231231_z7EloGvyfSMc" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(377,716</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20231231_zGgYlKPlamH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">17,882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Amortizing intangible assets:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 52%; text-align: left; padding-bottom: 1.5pt">Patent portfolio</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_z191lGEpHWj4" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, gross">880,000</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zSIJJGwNxYJ3" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, accumulated amortization">(279,683</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20221231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zkFqoyOuzdrl" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Finite-lived intangible assets, net">600,317</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--IntangibleAssetsGrossExcludingGoodwill_iI_c20221231_zlzRSi5PRixi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets gross">880,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_ecustom--IntangibleAssetsAccumulatedAmortization_iI_c20221231_z1eFJGXHLKpi" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, accumulated amortization">(279,683</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_c20221231_z2KBN4cjCgFf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangible assets, net">600,317</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1259863

-377716

882147

17000000

18259863

-377716

17882147

880000

-279683

600317

880000

-279683

600317

98033

76928

Future amortization of intangible assets, net are estimated to be as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" id="xdx_492_20231231_zAZJOGJRB6l"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Years Ending December 31:</td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANz9cN_zptRUUzu8kLe" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">140,243</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANz9cN_z2N7ZkWRD7q4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANz9cN_zN9DQUSjkLHh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFLIANz9cN_z4FGDNrCrK31" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_maFLIANz9cN_zJUD9aqJLSNc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,243</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_maFLIANz9cN_zOMGqK6DEAWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">180,932</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANz9cN_zz566rVTEIxl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">882,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

140243

180932

882147

NOTE G – ACCRUED EXPENSES Accrued expenses consisted of the following at December 31, 2023: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zVUxd13xbjIc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzzUa_zRWgMlrPeoTa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">245,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzzUa_zdnbJEgcuJpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,435</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesRelatedPartyCurrent_iI_maALCzzUa_zOMnPatfvhX3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,723</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzzUa_zuApPY3DgEBa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzzUa_zmSl6qur83E7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,637,048</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses consisted of the following at December 31, 2023: SCHEDULE OF ACCRUED EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20231231_zVUxd13xbjIc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_maALCzzUa_zRWgMlrPeoTa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">245,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzzUa_zdnbJEgcuJpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued compensation and related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,146,435</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesRelatedPartyCurrent_iI_maALCzzUa_zOMnPatfvhX3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178,723</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzzUa_zuApPY3DgEBa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzzUa_zmSl6qur83E7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Accrued expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,637,048</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

245751

1146435

178723

66139

1637048

NOTE H — SHORT-TERM DEBT RELATED TO ACQUISITION OF DM LAB As of December 31, 2023, the Company has four loans outstanding that were assumed in the DM Lab transaction, totaling $891,974, a decrease of $252,601 from the acquisition date due to the amount converted to equity on May 25, 2023. The loans carry varying interest rates ranging from <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20230101__20231231__srt--RangeAxis__srt--MinimumMember__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember_zCrIyN9xvC32" title="Interest rate">4.667% to <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember__srt--RangeAxis__srt--MaximumMember_zm2goYsIWlV4" title="Interest rate">6.69%. During the years ended December 31, 2023 and 2022, the Company incurred interest expense of $31,217 and $0, respectively, which is included in interest expense in the consolidated statement of operations. All loans are due within 12 months from the balance sheet date and have no optional or mandatory redemption or conversion features. These obligations have been classified as current liabilities on the consolidated balance sheet and the fair value of the loans approximates the carrying amount due to their short-term nature. Additionally, there are no associated restrictive covenants, third-party guarantees, or pledged collateral. As of the reporting date, the Company is in default as the Company failed to make payments due upon maturity. In February 2024, the Company obtained a waiver to extend the due dates of $668,674 of its short-term debt to January 2025. Such amounts are classified as long-term on the consolidated balance sheet.

891974

252601

0.04667

0.0669

31217

668674

January 2025

NOTE I — CONVERTIBLE NOTES During the year ended December 31, 2023, the Company issued and sold convertible notes with an aggregate original principal amount of $3,075,000. The convertible notes bear interest at an annual rate of 10% and mature in 6 months from the issuance of the applicable note. The notes are convertible into the common stock of the Company at the option of the holder at a conversion price of $1.00 per share. During the year ended December 31, 2023, all of the convertible notes had been converted into BEN common stock.

3075000

0.10

mature in 6 months from the issuance of the applicable note.

1.00

NOTE J - STOCKHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY/DEFICIT As of and for the years ended December 31, 2023 and 2022, the Company had authorized 10,000,000 shares $1.00 par value preferred stock, none of which to date have been designated nor any issued. As of and for the years ended December 31, 2023 and 2022, the Company had authorized 100,000,000 shares $0.001 par value common stock, which as of December 31, 2023 and 2022 the Company had 86,154,818 and 63,151,000 shares of common stock outstanding, respectively. Amendment to Articles of Incorporation In March 2023, the Company amended its Articles of Incorporation. Prior to this amendment, the Company had two classes of common shares outstanding. The Class A shares of common stock and the Class B shares of common stock. The only difference to the shares was that the Class A shares had the right to vote on all matters while the Class B shares could only vote on those matters required under the laws of the State of Wyoming. The March 2023 amendment to its Articles of Incorporation removed the two classes and combined all shares of common stock as one class. The Company treated this change as if it occurred at the inception of the Company and all amounts and shares included herein these financial statements are shown only as one class of common stock. 2023 Activity During the year ended December 31, 2023, the Company issued <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--DMLabMember_zc5TZFV0msEb" title="Number of shares issued in connection with acquisition">16,012,750 shares in connection with the DM Lab transaction (see Note C) and sold 2,283,105 shares of common stock at $2.19 per share for an aggregate purchase price of $5,000,000 as working capital financing. During the year ended December 31, 2023, the Company also issued compensatory options and warrants to acquire a total of 8,290,000 shares and 3,000,000 shares of its common stock, respectively (see Note K). Additionally, the Company received proceeds of $75,000 from the exercise of options and warrants to acquire 750,000 shares of common stock, of which $40,000 were from the settlement of outstanding accounts payable to the warrant holder. The Company was able to satisfy $432,963 of accounts payable and loans payable through the issuance of 882,963 shares of common stock. The Company also issued <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjSFMPKRjdp7" title="Number of shares issued upon conversion of convertible notes">3,075,000 shares of common stock upon the conversion of convertible notes (Note I). 2022 Activity In the year ended December 31, 2022, the Company received proceeds of $35,000 from the exercise of options and warrants to acquire 350,000 shares of common stock of the Company. In the year ended December 31, 2022, the Company was able to satisfy $586,000 of accounts payable through the issuance of 2,431,000 shares of common stock. The Company recorded a gain on extinguishment of $548,563, which is included in other income on the consolidated statement of operations. In the year ended December 31, 2022, a previously issued warrant to acquire <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zadDbTrLyyYa" title="Warrants to acquire of common stock">1,000,000 shares of common stock was exercised with the exercise price paid in services rendered to the Company for $100,000 (see note below). Equity Compensation Plans In May 2021, the Company adopted the 2021 Incentive Stock Option Plan (“Option Plan”) that entails provides for the grant of the following types of Stock Awards: (i) Incentive Stock Options, (ii) Non-statutory Stock Options, (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards, (v) Restricted Stock Unit Awards and (vi) Other Stock Awards. The Option Plan is administered by the Board of Directors. The Board may designate such authority to a committee of its discretion. The Option Plan awards are available to all employees, members of the board of directors and consultants. The Option grants authorized for issuance under the Plan may total exercise into <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20210531__us-gaap--AwardTypeAxis__custom--EquityCompensationPlansMember_zY0vuycYZbq5" title="Number of option grants authorized">10,000,000 shares of Common Stock. In the event of a termination or cancellation of an unused option grant, those shares revert to the Option Plan.

10000000

1.00

100000000

0.001

86154818

63151000

16012750

2283105

2.19

5000000

8290000

3000000

75000

750000

40000 432963 882963

3075000

35000

350000

586000 2431000

548563

1000000

100000

10000000

NOTE K - EQUITY-BASED COMPENSATION Option Awards 2023 Activity The Company granted options to acquire 8,290,000 shares of common stock of the Company at a weighted average exercise price of $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zhJo51RQX1T1" title="Weighted average exercise price">1.23 per share in the year ended December 31, 2023. Generally, options have a service vesting condition of 25% cliff after 1 year and then monthly thereafter for 36 months (2.067% per month). <p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zzw0pzK5X51j" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; background-color: white">The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the options granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUEPEsRw2aT9" title="Expected term">5.39 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zOp1Xt7uYLX2" title="Risk-free interest rate">3.81</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrHxGCaDKtxi" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjp6gqxnxpSa" title="Volatility">50.42</td><td style="text-align: left">%</td></tr> </table> A summary of option activity for the years ended December 31, 2023 and 2022 is as follows: SUMMARY OF SHARE-BASED PAYMENT ARRANGEMENT OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%">Outstanding as of December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230101__20231231_zgLBP5mv5MAb" style="width: 14%; text-align: right" title="Number of shares outstanding, beginning balance">1,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231_zyBAZ9oi5S5" title="Weighted average exercise price outstanding, beginning balance">0.10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20230101__20231231_z0UNKPsf0mI" title="Weighted average grant date fair value options outstanding, beginning balance">0.06</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231_z9sPuafjbw8g" title="Weighted average remaining contractual term (in years), beginning">8.75</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231_zls6IVQQ4kN5" style="text-align: right" title="Number of shares, granted">8,290,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zycAmVcQ2aQh" title="Weighted average exercise price, granted">1.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zfjbCZZDbYr3" title="Weighted average grant date fair value options, granted">0.62</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230101__20231231_zIvorUUKtA14" style="text-align: right" title="Number of shares, forfeited">(40,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20230101__20231231_zyEG5Yb90Wnb" title="Weighted average exercise price, forfeited">1.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Exercised</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20230101__20231231_zWEAYJiFX7u7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, exercised">(250,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20230101__20231231_zNiaTn7zfnJ1" title="Weighted average exercise price, exercised">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230101__20231231_z2E1miJ2BzDi" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares outstanding, ending balance">9,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231_zidNiDdZpZM8" title="Weighted average exercise price outstanding, ending balance">1.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20230101__20231231_ztlFwAt9c4X5" title="Weighted average grant date fair value options outstanding, ending balance">0.57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zh0cOTGYPK17" title="Weighted average remaining contractual term (in years), ending">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Vested and expected to vest as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20230101__20231231_z3dJ5rVmc8Z7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares vested and expected to vest">9,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231_zN1IRVgV9qI9" title="Weighted average exercise price, vested and expected to vest">1.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_c20230101__20231231_z6Az6AHhujla" title="Weighted average grant date fair value options outstanding, ending balance">0.57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zmvHHQKn4rjd" title="Weighted average remaining contractual term (in years),vested and expected to vest">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20230101__20231231_zDukJXmiID7b" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares exercisable">5,933,958</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20230101__20231231_zVfjk90nWRtf" title="Weighted average exercise price exercisable">1.00</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue_c20230101__20231231_zzHPwV5zOjd7" title="Weighted average grant date fair value options outstanding, ending balance">0.49</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zqrqlD94DOr8" title="Weighted average remaining contractual term (in years), exercisable">9.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The intrinsic value of the options exercised during the year ended December 31, 2023 was $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20230101__20231231_zqNqqpWYou25" title="Intrinsic value of the options exercised">225,000. There was <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_do_c20220101__20221231_zUGTU5VuJCtj" title="Intrinsic value of the options exercised">no intrinsic value for the options exercised during the year ended December 31, 2022 The aggregate intrinsic value of options outstanding and options exercisable as of December 31, 2023 were $9,516,700 and $7,042,448, respectively. At December 31, 2023, future stock-based compensation for options granted and outstanding of $<span id="xdx_906_ecustom--FutureShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231_z7xt1zySc1a7" title="Future stock-based compensation for options granted"><span id="xdx_90F_ecustom--FutureShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingInPeriod_c20230101__20231231_zqZVJWV7sKib" title="Future stock-based compensation for options outstanding">2,110,824 will be recognized over a remaining weighted-average requisite service period of 3.5 years. 2022 Activity There was no 2022 option grant activity. The Company recorded stock-based compensation from option grants of $3,066,342 and $18,750 in the years ended December 31, 2023 and 2022, respectively. Stock-based compensation capitalized as part of capitalized software costs for the year ended December 31, 2023 were $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_c20230101__20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--SoftwareDevelopmentMember_zYwtHC3fBBGd" title="Stock based compensation capitalized">61,458, and $<span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_c20230101__20231231__us-gaap--IncomeStatementLocationAxis__us-gaap--OperatingIncomeLossMember_zuvsBHUj0BOh" title="Stock based compensation capitalized">3,004,884 were expensed in the accompanying statements of operations. No stock-based compensation costs were capitalized during the year ended December 31, 2022. Warrant Awards There were 3,000,000 warrants granted in the year ended December 31, 2023 at a weighted average exercise price of $<span id="xdx_909_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zCv2EPJR7Q1i" title="Exercise price of warrants granted">1.00 per share with expiration dates ranging from February to June 2033. There were 500,000 warrants exercised in the year ended December 31, 2023 at a weighted average exercise price of $<span id="xdx_903_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAverageExercisePrice_c20230101__20231231_zRmAPXgSJ6Eh" title="Exercise price of warrants exercised">0.10 per share. As of December 31, 2023, there were 3,850,000 warrants outstanding at a weighted average exercise price of $0.80 per share, with expiration dates ranging from August 2029 to June 2033. There were no warrants granted during the year ended December 31, 2022. There were 1,150,000 warrants exercised during the year ended December 31, 2022. The Company recorded $1,873,771 and $0 stock-based compensation expense related to warrants for the years ended December 31, 2023 and 2022, respectively. The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the warrants granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS FOR WARRANTS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zX2HEYaKMoAg" title="Expected term">10 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zXvPMYt2mE81" title="Risk-free interest rate">3.53</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zzw3c8A0DLRa" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zfPYQCYDfJPl" title="Volatility">47.44</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_89C_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_z4LPF2Dbe5qi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company has recorded stock-based compensation related to its options and warrants in the accompanying statements of operations as follows: SCHEDULE OF STOCK-BASED COMPENSATION RELATED TO ITS OPTIONS AND WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zDGRAoQ7h0K3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20220101__20221231_zzhAK8mXBCt7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zcl79gTLRwEb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,846,867</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">18,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zfQrID7lmuil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,788</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_ziUW3vqTjaih" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Stock based compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,878,655</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

8290000

1.23

0.25

1 year and then monthly thereafter for 36 months (2.067% per month)

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zzw0pzK5X51j" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; background-color: white">The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the options granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUEPEsRw2aT9" title="Expected term">5.39 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zOp1Xt7uYLX2" title="Risk-free interest rate">3.81</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zrHxGCaDKtxi" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zjp6gqxnxpSa" title="Volatility">50.42</td><td style="text-align: left">%</td></tr> </table>

P5Y4M20D

0.0381

0.0000

0.5042

A summary of option activity for the years ended December 31, 2023 and 2022 is as follows: SUMMARY OF SHARE-BASED PAYMENT ARRANGEMENT OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%">Outstanding as of December 31, 2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230101__20231231_zgLBP5mv5MAb" style="width: 14%; text-align: right" title="Number of shares outstanding, beginning balance">1,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230101__20231231_zyBAZ9oi5S5" title="Weighted average exercise price outstanding, beginning balance">0.10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20230101__20231231_z0UNKPsf0mI" title="Weighted average grant date fair value options outstanding, beginning balance">0.06</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20221231_z9sPuafjbw8g" title="Weighted average remaining contractual term (in years), beginning">8.75</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230101__20231231_zls6IVQQ4kN5" style="text-align: right" title="Number of shares, granted">8,290,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231_zycAmVcQ2aQh" title="Weighted average exercise price, granted">1.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231_zfjbCZZDbYr3" title="Weighted average grant date fair value options, granted">0.62</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230101__20231231_zIvorUUKtA14" style="text-align: right" title="Number of shares, forfeited">(40,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20230101__20231231_zyEG5Yb90Wnb" title="Weighted average exercise price, forfeited">1.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">Exercised</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di_c20230101__20231231_zWEAYJiFX7u7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, exercised">(250,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20230101__20231231_zNiaTn7zfnJ1" title="Weighted average exercise price, exercised">0.10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230101__20231231_z2E1miJ2BzDi" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares outstanding, ending balance">9,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231_zidNiDdZpZM8" title="Weighted average exercise price outstanding, ending balance">1.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20230101__20231231_ztlFwAt9c4X5" title="Weighted average grant date fair value options outstanding, ending balance">0.57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zh0cOTGYPK17" title="Weighted average remaining contractual term (in years), ending">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Vested and expected to vest as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20230101__20231231_z3dJ5rVmc8Z7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares vested and expected to vest">9,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20230101__20231231_zN1IRVgV9qI9" title="Weighted average exercise price, vested and expected to vest">1.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_c20230101__20231231_z6Az6AHhujla" title="Weighted average grant date fair value options outstanding, ending balance">0.57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zmvHHQKn4rjd" title="Weighted average remaining contractual term (in years),vested and expected to vest">9.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20230101__20231231_zDukJXmiID7b" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares exercisable">5,933,958</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20230101__20231231_zVfjk90nWRtf" title="Weighted average exercise price exercisable">1.00</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue_c20230101__20231231_zzHPwV5zOjd7" title="Weighted average grant date fair value options outstanding, ending balance">0.49</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20230101__20231231_zqrqlD94DOr8" title="Weighted average remaining contractual term (in years), exercisable">9.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1000000

0.10

0.06

P8Y9M

8290000

1.23

0.62

40000

1.00

250000

0.10

9000000

1.13

0.57

P9Y2M23D

9000000

1.13

0.57

P9Y2M23D

5933958

1.00

0.49

P9Y1M24D

225000

9516700

7042448

2110824 2110824

P3Y6M

3066342 18750

61458

3004884

3000000

1.00

500000

0.10

3850000

0.80

1150000

1873771

The following table provides the weighted average assumptions included in the Black-Scholes Merton pricing model for the warrants granted: SCHEDULE OF WEIGHTED AVERAGE VALUATION ASSUMPTIONS FOR WARRANTS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zX2HEYaKMoAg" title="Expected term">10 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zXvPMYt2mE81" title="Risk-free interest rate">3.53</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zzw3c8A0DLRa" title="Dividend yield">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zfPYQCYDfJPl" title="Volatility">47.44</td><td style="text-align: left">%</td></tr> </table>

P10Y

3.53

0.00

47.44

<p id="xdx_89C_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_z4LPF2Dbe5qi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company has recorded stock-based compensation related to its options and warrants in the accompanying statements of operations as follows: SCHEDULE OF STOCK-BASED COMPENSATION RELATED TO ITS OPTIONS AND WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zDGRAoQ7h0K3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20220101__20221231_zzhAK8mXBCt7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zcl79gTLRwEb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">General and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,846,867</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">18,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zfQrID7lmuil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Research and development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,788</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_ziUW3vqTjaih" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Stock based compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,878,655</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4846867

18750

31788

4878655

18750

NOTE L – INCOME TAXES The components of our deferred tax assets are as follows: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20231231_zLua54NuIXL2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20221231_zzBTYcofML42" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred Tax Assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_maDTAGzN61_zZ6D3fY6HrGk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; width: 60%; text-align: left">Intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">280,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsSection_iI_maDTAGzN61_z5YUKiVdQ4th" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_maDTAGzN61_zig0ZpwuVPYg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_maDTAGzN61_zH2vq7H4WCv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Federal net operating losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzN61_z8W8TKS6y84i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Research and development credit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzN61_maDTANzYeg_zhqvSLlsNcF1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,900,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">256,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzYeg_zAxP0DqAtV08" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Less: Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,880,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(256,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsNet_iTI_maDTALNz60N_mtDTANzYeg_z017rtD57yU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Net Deferred Tax Assets:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Deferred Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredIncomeTaxLiabilities_iNI_di_msDTALNz60N_zyVH0x0kdMWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Fixed assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz60N_zzOakoZtCNZi" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net Deferred Tax Liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The benefit of income taxes for the years ended December 31, 2023 and 2022 consist of the following: SCHEDULE OF BENEFIT OF INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zyQkWSPyhcAg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220101__20221231_zf8OHibOGswk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zk6LuzBxPTic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">U.S. federal</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentFederalTaxExpenseBenefit_i01N_di_zawLtO4UbMw9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01N_di_maITEBzeWF_zWvxDeosUQ42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 60%">Deferred</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,624,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(256,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract_i01B_z0v0KqbZisxc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">State and local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01N_di_zAkZ3fuugIuk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01N_di_zqyP4Ee0RA0c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ValuationAllowancesOfIncomeTaxExpenseBenefit_msITEBzeWF_zC0jldTAv8sc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxExpenseBenefit_iNT_di_mtITEBzeWF_zNumYSoJXLV8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> A reconciliation of the statutory income tax rate to the effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF THE STATUTORY INCOME TAX RATE TO EFFECTIVE TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zxGWk8LNqddh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231_zrjUhghO8WBf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzTB6_z0JzyZLt8cWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Federal rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,460,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(142,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzTB6_zz7YsCwRIg9g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,020,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EffectiveIncomeTaxRateGainOnExtinguishmentAmount_maITEBzTB6_zHltEN7KENGd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(115,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--EffectiveIncomeTaxRateFederalRTPAmount_maITEBzTB6_z9YUZU9pt6l1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Federal RTP</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzTB6_zAxtZ8tiUJm5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(150,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzTB6_zvSHG2c3RtFi" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzTB6_z53ooEJ75rh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzTB6_zWR9rQbpIlYd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of the Company’s last filed Federal returns on December 31, 2022 and 2021, the Company has net operating losses of $1,104,955 and $148,421, respectively, available for carryforward to future years. These operating losses are indefinite lived, however their deductibility is limited under Internal Revenue Code 720. As of December 31, 2023 the Company has a valuation allowance of $1,880,000 against all net domestic deferred tax assets, for which realization cannot be considered more likely than not at this time. The net change in the valuation allowance was $1,624,000 for the year ended December31, 2023. Management assesses the need for the valuation allowance on an annual basis. In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and past financial performance. On May 3, 2023 the Company acquired DM Lab in an asset purchase agreement, which is deemed an asset acquisition for tax purposes. Per the acquisition accounting, no goodwill was created in this transaction. As an asset deal, the fair value of the intangibles and fixed assets from the DM acquisition have the same book and tax basis’s as of the opening balance sheet date. The majority of the assets acquired were intangible assets and the intangible asset deferred account represents the difference between net book and net tax value of the acquired assets as of December 31, 2023. Wyoming has no corporate income tax. The Company does not expect any material changes in the amount of unrecognized tax benefits within the next twelve months. The Company files tax returns as prescribed by the laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no pending tax examinations. The statute of limitations period is generally three years. Due to the extent of the net operating loss carryforward, however, all tax years remain open to examination.

The components of our deferred tax assets are as follows: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20231231_zLua54NuIXL2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20221231_zzBTYcofML42" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred Tax Assets:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_maDTAGzN61_zZ6D3fY6HrGk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; width: 60%; text-align: left">Intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">280,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsSection_iI_maDTAGzN61_z5YUKiVdQ4th" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Section 174</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_maDTAGzN61_zig0ZpwuVPYg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_iI_maDTAGzN61_zH2vq7H4WCv6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Federal net operating losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzN61_z8W8TKS6y84i" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Research and development credit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzN61_maDTANzYeg_zhqvSLlsNcF1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,900,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">256,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzYeg_zAxP0DqAtV08" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Less: Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,880,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(256,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsNet_iTI_maDTALNz60N_mtDTANzYeg_z017rtD57yU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Net Deferred Tax Assets:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Deferred Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredIncomeTaxLiabilities_iNI_di_msDTALNz60N_zyVH0x0kdMWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1.5pt">Fixed assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz60N_zzOakoZtCNZi" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net Deferred Tax Liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

280000

70000 23000

300000

53000

1200000

180000

50000

1900000

256000

1880000

256000

20000

The benefit of income taxes for the years ended December 31, 2023 and 2022 consist of the following: SCHEDULE OF BENEFIT OF INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20230101__20231231_zyQkWSPyhcAg" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20220101__20221231_zf8OHibOGswk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zk6LuzBxPTic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">U.S. federal</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CurrentFederalTaxExpenseBenefit_i01N_di_zawLtO4UbMw9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01N_di_maITEBzeWF_zWvxDeosUQ42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 60%">Deferred</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(1,624,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(256,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract_i01B_z0v0KqbZisxc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">State and local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01N_di_zAkZ3fuugIuk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01N_di_zqyP4Ee0RA0c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ValuationAllowancesOfIncomeTaxExpenseBenefit_msITEBzeWF_zC0jldTAv8sc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxExpenseBenefit_iNT_di_mtITEBzeWF_zNumYSoJXLV8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1624000

256000

1624000 256000

A reconciliation of the statutory income tax rate to the effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF THE STATUTORY INCOME TAX RATE TO EFFECTIVE TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20230101__20231231_zxGWk8LNqddh" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20220101__20221231_zrjUhghO8WBf" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzTB6_z0JzyZLt8cWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Federal rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,460,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(142,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzTB6_zz7YsCwRIg9g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,020,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EffectiveIncomeTaxRateGainOnExtinguishmentAmount_maITEBzTB6_zHltEN7KENGd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gain on extinguishment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(115,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--EffectiveIncomeTaxRateFederalRTPAmount_maITEBzTB6_z9YUZU9pt6l1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Federal RTP</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzTB6_zAxtZ8tiUJm5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax adjustment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(150,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzTB6_zvSHG2c3RtFi" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzTB6_z53ooEJ75rh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,624,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzTB6_zWR9rQbpIlYd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Income Tax Provision (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-2460000

-142000

1020000

-115000 -30000

-150000

-4000

1000

1624000

256000

1104955

148421

1880000

1624000

NOTE M – DEFERRED REVENUE In December 2021, the Company invoiced customers, related through common ownership, for $50,000 for which services were not yet performed as of December 31, 2022. The Company refunded the amount to the customers during the year ended December 31, 2023.

50000

NOTE N – RELATED PARTY TRANSACTIONS In the year ended December 31, 2023 and 2022, certain officers and directors advanced funds to or were advances from the Company on an undocumented, non-interest bearing, due on demand basis. As of December 31, 2023, $<span id="xdx_90F_eus-gaap--OtherLiabilitiesCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember_zGJlToZLivn6" title="Amounts owed to related parties">178,723 and $<span id="xdx_90D_eus-gaap--OtherLiabilitiesCurrent_iI_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--BalanceSheetLocationAxis__us-gaap--AccountsPayableAndAccruedLiabilitiesMember_zDsxtH1XD3tk" title="Amounts owed to related parties">48,069 of amounts owed to related parties were included within accrued expenses and accounts payable, respectively, in the accompanying consolidated balance sheet and <span id="xdx_90A_eus-gaap--OtherLiabilitiesCurrent_iI_doxL_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z3Z5He3xohJa" title="Amounts owed to related parties::XDX::-">no amounts were owed to the Company from any such related party. As of December 31, 2022, the Company owed $35,539 and was owed $13,685. In the years ended December 31, 2023 and 2022, the Company recorded professional and other fees and costs related to consulting services from related parties of approximately $<span id="xdx_90B_eus-gaap--OperatingCostsAndExpenses_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zDkyTQKKfQl6" title="Professional and other fees and costs">571,215 and $<span id="xdx_902_eus-gaap--OperatingCostsAndExpenses_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFovJoPmxfd8" title="Professional and other fees and costs">192,000, respectively, within general and administrative expenses in the accompanying consolidated statements of operations. On June 30, 2023, the Company entered into a promissory note agreement with a related party for $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zkK1IuVWn2n5" title="Promissory note">620,000. The note bears interest at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zIgLYHsYuQs8" title="Interest rate">7% per annum and matures on <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zm6xYj6FRtvc" title="Maturity date">June 25, 2025. The proceeds were used to satisfy a financial obligation totaling $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfDebt_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z12iUSfkcvI3" title="Proceeds from issuance of promissory note">620,000 that the Company owed to an advisory firm. <span id="xdx_901_eus-gaap--DebtInstrumentPaymentTerms_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zbinthqZc00d" title="Payment terms">The Company may prepay interest and principal on the note at any time before maturity on June 25, 2025. As of December 31, 2023, the balance on the promissory note was $<span id="xdx_901_eus-gaap--DebtInstrumentCarryingAmount_iI_c20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHHfkCbhVa7a" title="Outstanding balance promissory note">500,000. For the year ended December 31, 2023, the Company recorded $<span id="xdx_90F_eus-gaap--InterestExpense_c20230630__20230630__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zDymnlqaRZDk" title="Interest expense">25,299 in interest expense related to the promissory note agreement.

178723

48069

35539

13685

571215

192000

620000

0.07

2025-06-25

620000

The Company may prepay interest and principal on the note at any time before maturity on June 25, 2025

500000

25299

NOTE O – COMMITMENTS AND CONTINGENCIES The Company is subject to various legal and regulatory proceedings, claims, and assessments, as well as other contingencies, that arise in the ordinary course of business. The Company accrues for these contingencies when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company regularly reviews and updates its accruals for contingencies and makes adjustments as necessary based on changes in circumstances and the emergence of new information. Litigation Liabilities for loss contingencies, arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. There are no matters currently outstanding. Korea University The Company is party to a research and development sponsorship agreement with Korea University. Pursuant to the sponsorship agreement, the Company has agreed to pay <span id="xdx_901_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20230401__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zJ2UQhYo9805" title="Research and development expense">275 million Korean won to Korea University during the period from April 1, 2023 through December, 31, 2023. As of December 31, 2023, the Company had paid $<span id="xdx_904_eus-gaap--SponsorFees_c20231231__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zJ35cL6h3R15" title="Sponsor fees">180,950 in connection with the sponsorship agreement and owes a remaining <span id="xdx_90F_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_pn6n6_uKRW_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zJTdevS0Mvlh" title="Remaining owes research and development expense">40 million Korean won (approximately $<span id="xdx_904_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementOneMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z5LUb0codHb7" title="Remaining owes research and development expense">30,800). In November 2023, the Company entered into an additional research and development sponsorship agreement with Korea University. Pursuant to the sponsorship agreement, the Company has agreed to pay <span id="xdx_90D_eus-gaap--ResearchAndDevelopmentExpense_pn5n6_uKRW_c20231101__20240310__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zkvb5YLmtNG2" title="Research and development expense">21.6 million Korean won to Korea University during the period from November 1, 2023 through March 10, 2024. As of December 31, 2023, the Company had paid $<span id="xdx_905_eus-gaap--SponsorFees_c20231231__20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zdb6yRchgbAe" title="Sponsor fees">4,574 in connection with this sponsorship agreement and will owe a remaining <span id="xdx_902_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_pn5n6_uKRW_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_z9g3dHYIzO56" title="Remaining owes research and development expense">15.7 million Korean won (approximately $<span id="xdx_909_ecustom--RemainingOwesResearchAndDevelopmentExpense_iI_c20231231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember_zFgYIC06rVih" title="Remaining owes research and development expense">12,058) throughout the term of the agreement. In December 2023, the Company entered into a Research and Development Agreement with Korea University for total consideration of up to <span id="xdx_905_eus-gaap--ResearchAndDevelopmentExpense_pn6n6_uKRW_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zhi5LIBVsvOc" title="Research and development expense">528 million Korean won (approximately $<span id="xdx_908_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ResearchAndDevelopmentSponsorshipAgreementTwoMember__srt--CounterpartyNameAxis__custom--KoreaUniversityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpO0ZtnHb955" title="Research and development expense">406,560) from January 2024 through December 2024. The Company can terminate the agreement upon written notice to Korea University for a period of at least one month.

275000000

180950

40000000 30800

21600000

4574

15700000 12058

528000000

406560

NOTE P – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through March 19, 2024, the date at which the consolidated financial statements were available to be issued, and there are no other items requiring disclosure except for the following. Stock Options During January and February of 2024, the Company granted options to acquire <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z7y75xUPzxCh" title="Number of share options granted">150,000 shares of common stock of the Company at an exercise price of $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240101__20240229__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJqSD0mCv90c" title="Exercise price">2.19 which were fully vested upon grant. Merger with DHC Acquisition Corp On March 14, 2024 (the “Closing Date”), DHC Acquisition Corp (“DHC”) a Cayman Islands exempted company, consummated the previously announced business combination pursuant to that certain Business Combination Agreement and Plan of Reorganization, dated as of September 7, 2023 (the “Business Combination Agreement”), by and among DHC, BEN Merger Subsidiary Corp., a Delaware corporation (“Merger Sub”), DHC Sponsor, LLC, a Delaware limited liability company, and the Company. Pursuant to the terms of the Business Combination Agreement, a business combination between DHC and the Company was effected through the merger of Merger Sub with and into the Company, with the Company as the surviving company in the business combination, and after giving effect to such merger, continuing as a wholly owned subsidiary of DHC (the “Merger” and, together with the other transactions contemplated by the Business Combination Agreement, the “Business Combination”). Each share of the Company’s common stock issued and outstanding immediately prior to the closing of the Business Combination was converted into the right to receive <span id="xdx_903_ecustom--BusinessCombinationExchangeRatio_pid_uPure_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--DhcAcquisitionCorpMember_ztBG8Ugrpl91" title="Exchange ratio">0.2701 (the “Exchange Ratio”) shares of DHC common stock. At the closing of the Business Combination, DHC issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--DhcAcquisitionCorpMember_zHQ5CfeLMsBf" title="Number of issued shares for business combination">25,641,321 shares of common stock to the former holders of the Company’s common stock. In addition, pursuant to the Business Combination Agreement, options and warrants to purchase the Company’s common stock that were issued and outstanding immediately prior to the closing were assumed and adjusted pursuant to the Exchange Ratio and in accordance with the terms of their agreements into options and warrants to purchase common stock of DHC. The Business Combination is expected to be accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, the Company will be deemed to be the accounting acquirer for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of a capital transaction in which the Company is issuing stock for the net assets of DHC. The net assets of DHC would be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the closing of the Business Combination would be those of the Company. Following the Business Combination, the shareholders of the Company held <span id="xdx_90D_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--DhcAcquisitionCorpMember_z6XUcSB9dIIl" title="Percentage of voting equity interests">76.0% of the combined company, and the shareholders of DHC, sponsors and advisors held <span id="xdx_90E_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--ShareholdersOfDHCSponsorsAndAdvisorsMember_zDDAV7JpOMWk" title="Percentage of voting equity interests">24.0% of the combined company. AFG Companies, Inc. Prior to or concurrently with the execution and delivery of the Business Combination Agreement, (i) the Company and AFG Companies, Inc., a Texas automotive finance and insurance company (“AFG”) entered into the Reseller Agreement providing for, among other things, AFG to act as the Company’s exclusive reseller of certain products of the Company on terms and conditions set forth therein and, as partial consideration to AFG for such services to the Company, the Company shall issue a number of shares of its common stock to AFG as of immediately prior to the consummation of the Business Combination with an aggregate value of $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zIaToMaoS0Bh" title="Aggregate value of business combination">17,500,000 as of the issuance date, and (ii) the Company and AFG and certain of its affiliates (“AFG Investors”) have entered into the Subscription Agreement providing for, among other things, the purchase of shares of the Company’s common stock in a private placement by the AFG Investors as of immediately prior to the time at which the Business Combination becomes effective (“Effective Time”) in exchange for $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zry3MBINJMej" title="Cash contributed">5,500,000 in cash contributed to the Company, in each case, subject to and contingent upon the consummation of the Business Combination. Additionally, at the Effective Time, the Company will issue to AFG a non-transferable warrant to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zjZTqWxXoITk" title="Warrants to purchase shares">3,750,000 shares of the combined company’s common stock at a price of $<span id="xdx_90D_eus-gaap--SharePrice_iI_pid_c20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--ResellerAgreementMember_zLmW3gh43kv5" title="Stock price">10.00 per share, with AFG’s right to exercise such warrant vesting based upon revenues earned from the sales of the Company’s products paid by AFG to the Company pursuant to the Reseller Agreement. Concurrently with the execution and delivery of the Business Combination Agreement, the Company received $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zr8RKmT9Ochf" title="Proceeds from issuance of stock">5,500,000 from AFG pursuant to the Subscription Agreement and the Company issued an aggregate of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240314__20240314__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--BusinessAcquisitionAxis__custom--AFGCompaniesIncMember__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zpNRkdLGKXHb" title="Number of shares issued">8,515,376 shares of the Company’s common stock to AFG pursuant to the Subscription Agreement and Reseller Agreement.

150000

2.19

0.2701

25641321

0.760

0.240

17500000

5500000

3750000

10.00

5500000

8515376