Company: LNAI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001731122-25-001544
Chunk: 23

Company: Lunai Bioworks Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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, offer to sell, sell or import products for use solely for the prevention, treatment, amelioration of or therapy exclusively
for HIV in humans, and research and development exclusively relating to HIV in humans; provided the Licensors retained the right to conduct
HIV research in the field. Pursuant to the ALC License Agreement, the Company granted a non-exclusive license back to the Licensors, under
any patents or other intellectual property owned or controlled by the Company, to the extent arising from the ALC License, to make, use,
offer to sell, sell or import products for use in the diagnosis, prevention, treatment, amelioration or therapy of any (i) HIV Comorbidities
and (ii) any other diseases or conditions outside the HIV Field. The Company made an initial payment to SRI of $600,000 and agreed to
fund future HIV research conducted by the Licensors, as mutually agreed to by the parties. On September 10, 2021, pursuant to the ALC
License Agreement, the Company paid the initial payment of $600,000.

G Tech and SRI are controlled by
Anderson Wittekind, a stockholder of the Company.

Service Agreements –The
Company maintains employment agreements with certain senior staff in the ordinary course of business.

Contingencies

Securities Class Action Litigation.
On July 26, 2022 and July 28, 2022, securities class action complaints (the former, the “Chow Action” and the latter, the
“Manici Action”) were filed by purported stockholders of the Company in the United States District Court for the Central District
of California against the Company and certain of the Company’s current and former officers and directors. The complaints allege,
among other things, that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule
10b-5 thereunder, by making false and misleading statements and omissions of material fact in connection with the Company’s relationship
with Serhat Gümrükcü and its commercial prospects. The complaints seek unspecified damages, interest, fees, and costs.
On November 22, 2022, the Manici Action was voluntarily dismissed without prejudice. The Chow Action (also referred to as the “Securities
Class Action Litigation”) remains pending. On October 22, 2023, the Court appointed a lead plaintiff in the Chow