Company: LNAI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001731122-25-001544
Chunk: 16

Company: Lunai Bioworks Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 to Laksya Ventures Inc. with all terms remaining unchanged. On July 7, 2025,
the Company entered into an Exchange Agreement to exchange the existing promissory note for a new convertible promissory note. The exchange
resulted in a $41,319 loss on extinguishment of debt. Immediately following the issuance of the convertible note on July 7, 2025, the
investor elected to convert the entire note balance for shares of common stock. The note balance at September 30, 2025 was zero with Paseco
ApS and Laksya Ventures Inc.

On February 5, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $105,263
(the “February 2024 Note”). The Company received $100,000 in gross proceeds after taking into account the 5% original issue
discount. The note bears an interest rate of 12% per annum and matured on December 31, 2024. On February 24, 2025 RS Bio assigned its
ownership rights to Rene Sindlev with all terms remaining unchanged. On July 7, 2025, the Company entered into an Exchange Agreement to
exchange the existing promissory note for a new convertible promissory note. The exchange resulted in a $80,343 loss on extinguishment
of debt. Immediately following the issuance of the convertible note on July 7, 2025, the investor elected to convert the entire note balance
for shares of common stock. The note balance, net of discount at September 30, 2025 was zero.

On January 2, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $526,315.
The Company received a total of $500,000 in gross proceeds after taking into account the 5% original issue discount. The note bears
an interest rate of 12% per annum and matured on December 31, 2024. On February 24, 2025 RS Bio assigned its ownership rights to Rene
Sindlev with all terms remaining unchanged. On July 7, 2025, the Company entered into an Exchange Agreement to exchange the existing promissory
note for a new convertible promissory note. The exchange resulted in a $