Company Summary: Brand Engagement Network Inc.

Business Focus

• Core Industry: Generative AI ("GenAI") specializing in conversational AI solutions.
• Main Product: Human-like AI agents ("AI Agents") capable of multi-modal interaction (text, voice, visual).
• Technology Base: Built on 16+ advanced AI modules for perception, understanding, and response, including NLP, multisensory awareness, sentiment analysis, environmental context, personalization, and real-time individuation.
• Customization: AI Agents can be tailored in appearance, voice, tone, emotion, and integration interface to meet customer-specific needs.
• Deployment: Can operate across cloud, on-premises, and hybrid environments; accessible via web (desktop/mobile), mobile voice/text, kiosks, SDKs, and integrated business systems.
• Vertical Applications: Focused initially on healthcare and automotive industries, with expanding into advertising, media, and financial services.

Recent Developments

• Customers:
  • Secured first healthcare customer in November 2023.
  • Piloting AI solutions with 5 additional healthcare companies in 2024.
  • Formed partnerships with healthcare tech firms and media branding companies.
• Acquisitions:
  • Acquired DM Lab in 2023, which provided initial AI prototype.
  • Entered into agreement to acquire Cataneo GmbH ("Cataneo") in October 2024, a leader in media technology for ad sales, inventory management, and campaign optimization, with a closing targeted for the first half of 2025.
  • Amended purchase agreement in March 2025 to extend closing timelines and payments, with a partial payment of $100,000 made in March 2025.
• Funding & Securities Transactions:
  • Raised capital through multiple private placements in 2024:
    • May 2024: $4.4 million via issuance of common stock and warrants.
    • July 2024: $0.3 million from sale of stock and warrants.
    • August 2024: $5.925 million through issuance of stock, warrants, and transfer of shares.
    • November 2024: $1.7 million Yorkville promissory note.
  • Issued commitments for additional equity under the Standby Equity Purchase Agreement (SEPA), with over 2.46 million shares issued as of March 2025.
• Employees:
  • 39 full-time employees as of December 31, 2024.
  • 6 independent contractors.

Financials

• Revenue (2023 & 2024): Minimal; business was pre-revenue, primarily beta testing and pilot programs.
• 2024 Losses: Approximately $33.7 million.
• 2023 Losses: Approximately $11.7 million.
• Accumulated Deficit: Approximately $47 million as of December 31, 2024.
• Market Capitalization: Approximately $33.4 million as of June 28, 2024, based on a $3.45 closing price on that date.
• Outstanding Shares & Warrants:
  • 42,274,461 shares of common stock issued and outstanding as of March 27, 2025.
  • 16,440,962 public warrants outstanding as of March 27, 2025.

Market & Industry

• Target Market: Estimated to be worth $10 billion, projected to grow to $47 billion by 2030.
• Key Trends: Growing adoption of agentic AI, increased acceptance of AI and GenAI across organizations, focus on personalized and multimodal experiences, regulatory and ethical developments, and integration with emerging technologies like IoT and cloud computing.

Strategic Goals

• Expand customer base using direct and channel sales.
• Grow through "land and expand" strategy within healthcare, automotive, advertising, and financial sectors.
• Develop pipeline of future products and vertical-specific solutions.
• Complete acquisition of Cataneo and enhance offerings with media technology integration.
• Expand partnerships globally, including collaborations with universities and solution providers.

Summary

• Focused on developing and deploying highly customizable conversational AI agents across multiple industries.
• Nearly all revenue is from pilots, initial deployments, or capital raises; no substantial revenue recorded.
• Currently in growth and development stage with significant funding efforts underway.
• Substantial losses with an ongoing acquisition strategy and emphasis on IP, technology innovation, and strategic partnerships.