Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 31

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 31
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 our Common Stock or rights to purchase Common Stock, including pursuant to our equity incentive plans, could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall. |

Investing in our Common Stock involves a high degree of risk. Investors should carefully consider all of the risk factors and uncertainties described below, in addition to the other information contained in this Annual Report on Form 10-K, including the section of this report titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes, before investing in our Common Stock.

The risks described below may not be the only ones relating to our Company and additional risks that we currently believe are immaterial may also affect us. If any of these risks, including those described below, materialize, our business, competitive position, reputation, financial condition, results of operations, cash flows and future prospects could be seriously harmed. In these circumstances, the market price of our Common Stock could decline, and investors may lose all or a part of their investment.

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Risks Related to Our Financial Position and Capital Requirements

We have incurred substantial losses since our inception and anticipate that we will continue to incur substantial and increasing losses for the foreseeable future.

Renovaro is a pre-clinical-stage
biotechnology company and AI-driven healthcare technology company. Investment in biotechnology related to genetically modified cells is
highly speculative because it entails substantial upfront capital expenditures and significant risk that a product candidate will fail
to prove effective, gain regulatory approval or become commercially viable. We do not have any products approved by regulatory authorities
and have not generated any revenues from product sales or otherwise to date, and have incurred significant research, development and other
expenses related to our ongoing operations and expect to continue to incur such expenses. As a result, we have not been profitable and
have incurred significant operating losses in every reporting period since our inception. For the years ended June 30, 2024, and 2023,
respectively, we reported a net loss of $88,425,828 and $39,684,056. We had an accumulated deficit of $332 million and $244 million as
of June 30, 2024 and 2023, respectively.

We do not expect to generate revenues
for the foreseeable future. We expect to continue to incur significant expenses and operating losses for the foreseeable future. We anticipate
these losses to increase as we continue to research,