Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 180

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 180
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 Closing Date.

The following table details the fair values of the assets acquired and liabilities assumed at the acquisition date:

| Schedule of fair value of assets acquired and 
 liabilities assumed                           |     |   |             |   |
|:----------------------------------------------|:----|:--|------------:|:--|
| Cash                                          |     | $ |      65,851 |   |
| Prepaid & Other Assets                        |     |   |     151,544 |   |
| Fixed Assets                                  |     |   |      16,243 |   |
| Operating lease ROU                           |     |   |     624,366 |   |
| Total Assets Acquired:                        |     |   |     858,004 |   |
| Accounts Payable                              |     |   |     583,577 |   |
| Accrued Expenses                              |     |   |     722,508 |   |
| Operating Lease liability                     |     |   |     624,367 |   |
| Notes Payable                                 |     |   |   1,832,460 |   |
| Total Liabilities Assumed                     |     |   |   3,762,913 |   |
| Net Assets Acquired                           |     |   |  (2,904,909 | ) |
| Goodwill                                      |     |   | 159,464,040 |   |
| Total Consideration                           |     | $ | 156,559,131 |   |

The goodwill
recognized is attributable primarily to expected synergies and the assembled workforce of Gedi Cube. None of the goodwill is expected
to be deductible for income tax purposes.

The fair
values of the acquired tangible and intangible assets were determined using variations of the income approach. The income approach valuation
methodology used for the intangible assets acquired makes use of Level 3 inputs.

The Company
recognized approximately $1.2 million of acquisition related costs that were expensed during the period ended June 30, 2024. These costs
are included in “selling, general and administrative expenses” in the accompanying condensed consolidated statements of operations.

The amounts
of revenue and loss of GEDi Cube, included in the Company’s consolidated statements of operations from the Closing Date through
June 30, 2024 are as follows:

| Schedule of consolidated 
 statements of operations |     |   |            |   |
|:-------------------------|:----|:--|:-----------|:--|