Company: LNAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000765
Chunk: 150

Company: Lunai Bioworks Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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,018  
     (100)%
  
    Interest expense 
     (188,685) 
     (303,802) 
     115,117  
     (38)% 
     (537,656) 
     (758,057) 
     220,401  
     (29)%
  
    Interest and other income 
     72  
     (16,272) 
     16,344  
     (100)% 
     109,483  
     8,041  
     101,442  
     1,262%
  
    Total Other Income (Expense) 
     4,351,668  
     (7,609,230) 
     11,960,898  
     (157)% 
     10,772,108  
     (8,159,190) 
     18,931,298  
     (232)%
  
    NET INCOME (LOSS) 
    $189,176  
    $(58,990,070) 
    $59,179,246  
     100% 
    $(51,275,253) 
    $(72,694,219) 
    $21,418,966  
     (29)%

Revenues

We are a pre-revenue, pre-clinical
biotechnology and artificial intelligence driven healthcare technology company. We have never generated revenues and have incurred losses
since inception. We do not anticipate earning any revenue until our therapies or products are approved for marketing and sale.

33

Expenses 

Our operating expenses for the
three months ended March 31, 2025 and 2024, were $4,162,492 and $51,380,840 respectively, representing
a decrease of $47,218,348 or approximately 92%. The decrease in operating expenses primarily relates to the decrease of intangible
asset impairment of $42,611,000, general and administrative expenses of $3,427,789 and the decrease in research and development expenses
of $1,181,229.

Our operating expenses for the
nine months ended March 31, 2025 and 2024, were $62,047,361 and $64,535,029 respectively, representing
a decrease of $2,487,668, or approximately 4%. The decrease in operating expenses primarily relates to