Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000254
Chunk: 2

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 2
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ited interim condensed consolidated financial statements for the quarter ended September 30, 2024 contained a material misstatement related to the exercising of certain warrants which impacted the change in fair value of the contingent consideration liability during the year ended June 30, 2024. Accordingly, those financial statements should no longer be relied upon. Similarly, related reports filed with the Securities Exchange Commission (the “SEC”), earnings releases, press releases, shareholder communications, investor presentations or other communications describing relevant portions of the September 30, 2024, financial statements should no longer be relied upon. The Company is restating the September 30, 2024, financial statements within this Amendment. During the preparation of the Company’s Form 10-Q for the period ended December 31, 2024, the Company determined that certain warrants which were exercised during the three months ended March 31, 2024, had not been appropriately reflected as a component of the change in fair value of the contingent consideration during the three and nine months ended March 31, 2024. This impacted the September 30, 2024 consolidated balance sheet and September 30, 2024 statement of stockholders’ equity. Refer to “ Note 2 - Restatement of Previously Issued Financial Statements” of “Part I - Item 1. Financial Statements” (“Note 2”) for additional information. Internal Control Considerations Due to discovery of the error, the Company’s management re-evaluated the effectiveness of the Company’s internal control over financial reporting (“ICFR”) as of September 30, 2024 and believes the error relates to and is the result of a previously identified and reported material weakness which has been disclosed in our Form 10-K/A filed on February [], 2025. The material weakness remained in place as of September 30, 2024. For a discussion of management’s consideration of disclosure controls and procedures, internal controls over financial reporting and the material weaknesses identified, see “Part I - Item 4. Controls and Procedures” of this Amendment.

<div align='center'>RENOVARO INC. AND SUBSIDIARIES

- INDEX -</div>

|                                 |                                                                                                                               | Page |
| PART I – FINANCIAL INFORMATION: |                                                                                                                               |    1 |
| Item 1.                         | Financial Statements (Unaudited):                                                                                             |    1 |
|                                 | Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and June