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

Company: Lunai Bioworks Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 25
---
600,000 stock options to its Chief Executive Officer. The options had a fair value of $731,200, fully vest on January
1, 2027 and expire on October 14, 2034.

On November 4, 2024, the Company
issued 362,904 stock options to its board of directors. The options had a fair value of $190,525 on the grant date, fully vest on October
14, 2025 and expire on November 4, 2034.

On November 4, 2024, the Company
issued 58,500 stock options to its former interim Chief Financial Officer. The options had a fair value of $31,005 on the grant date,
fully vest on January 6, 2025 and expire on November 4, 2034. Subsequently, during the period ended March 31, 2025, pursuant to the Company’s
executive officer compensation claw back policy, the board of directors directed the Company to claw back and cancel the 58,500 options
which were issued on November 4, 2024.

On January 21, 2025, the Company
issued 250,000 stock options to the Chief Financial Officer of Renovaro Cube. The options had a fair value of $151,750 on the grant date,
fully vest on January 6, 2027, and expire on January 21, 2035.

On January 21, 2025, the Company
issued 1,000,000 stock options to its board of directors. The options had a fair value of $593,000 on the grant date, fully vest on December
30, 2029, and expire on January 21, 2035.

    15

In
total, the Company recognized stock-based compensation expense related to options of $263,631 and $1,179,940 for the three and nine months
ended March 31, 2025, respectively. 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. At March 31, 2025, the Company had approximately
$1,338,933 of unrecognized compensation cost related to non-vested options.

Warrants

The Company recognizes compensation
costs for warrants non-employees based on their grant-date fair value.