Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 406

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 3
Chunk 406
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180) 
     (578,340)
  
    Net Property and Equipment 
        
    $367,843  
    $482,121 

Depreciation expense amounted
to $119,193 and $113,563 for the years ended June 30, 2025 and 2024, respectively.

NOTE 5 — INTANGIBLE ASSETS AND GOODWILL

At June 30, 2025, definite-life
intangible assets, net of accumulated amortization, consisted of patents, software platform and trademarks on the Company’s products
and processes of $14,994, $143,000 and $8,000. At June 30, 2024, definite-life intangible assets, net of accumulated amortization, consisted
of patents on the Company’s products and processes of $30,043. The patents are recorded at cost and amortized over twenty years
from the date of application. Amortization expense for the years ended June 30, 2025 and 2024 was $9,902 and $8,296, respectively.

At June 30, 2025 and 2024, indefinite
life intangible assets consisted of a license agreement classified as In-Process Research and Development (“IPR&D”) intangible
assets, which are not amortizable until the intangible assets provide economic benefit, and goodwill.

    F-15

At June 30, 2025 and 2024, definite-life
and indefinite-life intangible assets consisted of the following:

    Schedule of definite-life
and indefinite-life intangible assets 

    Useful Life 
    June 30, 2024 
     Additions 
     Amortization 
     Impairment 
    Translation Adjustment 
    June 30, 2025
  
    Definite Life Intangible Assets 

    Software platform 
    5 Years 
    $—  
    $143,000  
    $—  
    $—  
    $—  
    $143,000 
  
    Trademark 
    2 Years 
    $—  
    $8,000  
    $—  
    $—  
    $—  
    $8,000 
  
    Patents 
    20 Years 
    $284,977  
    $—  
    $—  
    $—  
    $28,033  
    $313,010