Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 44

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 44
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 original issued exercise price to
$1.92 per share, the closing price of the Company’s Common Stock on February 13, 2024. The Company recognized stock-based compensation
expense related to the repricing of options of $886,849for the period ended March 31, 2024.

In total, the Company recognized
stock-based compensation expense related to options of $1,326,592 and $2,775,793 for the three and nine months ended March 31, 2024, respectively.
The Company recognized stock-based compensation expense related to options of $ 1,076,203and $ 2,922,166for the three and nine months ended March 31, 2023, respectively. At March 31, 2024, the Company had approximately
$579,305 of unrecognized compensation cost related to non-vested options.

Plan Options

On February 6, 2014, the Board
adopted the Company’s 2014 Equity Incentive Plan (the “2014 Plan”), and the Company had reserved 1,206,000 shares of
Common Stock for issuance in accordance with the terms of the 2014 Plan.

24

RENOVARO INC. AND SUBSIDIARIES
NOTES TO UNAUDITED RESTATED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 9 — STOCKHOLDERS’ EQUITY (Continued)

On October 30, 2019, the Board
approved and on October 31, 2019, the Company’s stockholders adopted its 2019 Equity Incentive Plan (the “2019 Plan”),
which replaced the 2014 Plan. The 2019 Plan provided that the maximum aggregate number of shares of the Company’s Common Stock reserved
and available for issuance under the 2019 Plan was the sum of (1) 6,000,000 new shares, and (2) the number of shares available for the
grant of awards as of the effective date under the 2014 Plan plus any options related to awards that expire, are terminated, surrendered,
or forfeited for any reason without issuance of shares under the 2014 Plan after the effective date of the 2019 Plan.

Effective July 21, 2023, the
Company adopted the Renovaro Biosciences Inc. 2023 Equity Incentive Plan (the “2023 Plan”). The 2023 Plan replaced the
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