Company: LNAI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001731122-25-001544
Chunk: 15

Company: Lunai Bioworks Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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, the Company entered into an Exchange Agreement to exchange the existing promissory notes for new convertible promissory
notes. The exchange resulted in a $364,303 loss on extinguishment of debt. Immediately following the issuance of the convertible notes
on July 7, 2025, the investors elected to convert the entire note balance for shares of common stock. The note balance at September 30,
2025 was approximately zero with Paseco ApS and Laksya Ventures Inc.

    12

On November 1, 2024, Renovaro Cube
entered into an agreement with Yalla Yalla Limited, an investor to issue a Promissory Note for the amount of approximately €225,000.
The note bears an interest rate of 10% per annum and matured on February 24, 2025. The note balance at September 30, 2025 was approximately
$270,000.

On September 16, 2024, the Company
entered into an agreement with RS Bio ApS, a Danish entity controlled by a shareholder (“RS Bio”), to issue a Promissory Note
for the principal amount of $100,000 (the “September 2024 Note”). The Company received $100,000 in gross proceeds. 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 $71,112 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.

On September 6, 2024, Renovaro
Cube entered into an agreement with Paseco ApS, a Danish entity controlled by a shareholder (“Paseco ApS”), to issue a Promissory
Note for the principal amount of €50,000. The note bears an interest rate of 12% per annum and matures on September 9, 2025. On February
24, 2025 Paseco ApS assigned 50% of its ownership rights