BEN reduces Q4 2025 liabilities by ~$2.5M via debt-to-equity conversions

Brand Engagement Network Inc.

Converted $1.25M of debt and liabilities into equity at $2.10/share; $899,934 in loans and $350,070 in short-term liabilities satisfied.
Investors include BEN Capital Fund, Joseph Bevash, Michael Reinberger, others; warrants issued with 90-day expiration at $2.10.
Additional reductions: $504,684 affiliate debt converted (Dec 18), $250,010 accounts payable reduction, $487,306 vendor obligations.
Total Q4 2025 liability reduction is $2,492,004, strengthening balance sheet and operational flexibility.

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