Company: LNAI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001731122-25-001544
Chunk: 43

Company: Lunai Bioworks Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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(365,782
)

(94
)%

Goodwill impairment

—

47,614,729

(47,614,729
)

(100
)%

Long-lived asset impairment

831,915

—

831,915

100
%

Depreciation and amortization

41,522

32,385

9,137

28
%

Total Operating Expenses

3,308.360

53,338,554

(50,030,194

(94
)%

LOSS FROM OPERATIONS

(3,308,360
)

(53,338,554
)

50,030,194

(94
)%

Other Income (Expenses)

Change in fair value of contingent consideration

370,000

9,250,000

(8,880,000
)

(96
)%

Change in fair value of equity securities

156,849

—

156,849

100
%

Gain on bankruptcy of subsidiary

12,019,227

—

12,019,227

100
%

Loss on extinguishment of debt

(6,329,592
)

—

(6,329,592
)

(100
)%

Interest expense

(122,400
)

(250,080
)

127,680

(51
)%

Interest income and other income (expense)

33,297

126,598

(93,301
)

(74
)%

Total Other Income (Expense)

6,127,381

9,126,518

(2,999,137
)

(33
)%

NET INCOME (LOSS)
 
$
2,819,021

$
(44,212,036
)
 
$
47,031,057

(106
)%

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 revenues until our therapies or products are approved for marketing and sale.

31

Expenses 

Our operating expenses for the
three months ended September 30, 2025 and 2024, were $3,308,360 and $53,338,554, respectively, representing a decrease of $50,030,194,
or approximately 94%. The decrease in operating expenses primarily relates to the decrease in goodwill impairment of $47,614,729 and by
the decrease in general and administrative expenses of $2,