---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-088139"
form_type: "8-K"
ticker: "BNBX"
cik: "0000744452"
company_name: "BNB PLUS CORP."
filed_at: "2026-07-29T20:10:25+00:00"
generated_at: "2026-07-29T20:11:16.350305+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# BNB Plus terminates Cypress agreements, pays $1M, issues preferred stock; Chairman Kruger resigns

## Summary
- Settlement terminates Cypress agreements; $1M cash + 200K Series B-1 preferred shares.
- Josh Kruger resigns as Chairman and director effective July 31, 2026; Patrick Horsman ceases as CIO.
- Cypress parties agree to standstill until Sept 2030; rescind 695,322 Series E-1 warrants, modify 1,291,312 warrants.
- Company pays $500K upfront, $500K in 12 monthly installments; default fee of $1.25M.

## SEC filing metadata
- accession: 0001104659-26-088139
- form_type: 8-K
- ticker: BNBX
- cik: 0000744452
- company_name: BNB PLUS CORP.
- filed_at: 2026-07-29T20:10:25+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/744452/000110465926088139/0001104659-26-088139-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/744452/000110465926088139/tm2621525d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-088139
- JSON: https://secwatch.observer/filing/0001104659-26-088139.json
- Plain text: https://secwatch.observer/filing/0001104659-26-088139.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.