Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 129

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 129
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15,847 |   |
| Additional paid-in capital                       |     | $           |  456,811,911 |   |     | $      |  7,775,313 |   |     | $           |  464,587,224 |   |
| Accumulated deficit                              |     | $           | (324,679,425 | ) |     | $      | (7,775,656 | ) |     | $           | (332,455,081 | ) |
| Change in fair value of contingent consideration |     | $           |    4,727,473 |   |     | $      | (7,775,656 | ) |     | $           |   (3,048,183 | ) |
| Net loss                                         |     | $           |  (80,650,172 | ) |     | $      | (7,775,656 | ) |     | $           |  (88,425,828 | ) |
| Comprehensive loss                               |     | $           |  (80,791,136 | ) |     | $      | (7,775,656 | ) |     | $           |  (88,566,792 | ) |
| Basic and diluted net loss per share             |     | $           |        (0.84 | ) |     | $      |      (0.07 | ) |     | $           |        (0.91 | ) |

NOTE 3 – GOING CONCERN

The Company’s consolidated financial statements are prepared using the
generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. However, the Company has incurred substantial recurring losses from continuing operations,
has used cash in the Company’s continuing operations, and is dependent on additional financing to fund operations. The Company incurred
a net loss of $88,425,828 and $39,684,056 for the years ended June 30, 2024 and 2023, respectively. As of June 30, 2024, the Company had
cash and cash equivalents of $220,467 and an accumulated deficit of $332,455,081 and a working capital deficit of $28,312,274. These conditions
raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date the financial statements
are issued. The consolidated financial statements