Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 377

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 3
Chunk 377
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is dated August 1, 2024. The principal amount of the Promissory Note, as amended, was payable and matured on November 1, 2024 (the “Maturity
Date”). The Promissory Note, as amended, bears interest at a fixed rate of 12% per annum. On February 24, 2025 Paseco ApS assigned
its ownership rights to Rene Sindlev with all terms remaining unchanged. The Promissory Note balance at June 30, 2025 is $831,497.

The Company’s obligations
under the referenced Promissory and Bridge Notes, except for those originally entered into by Renovaro Cube, are secured by a Security
Agreement. To secure the Company’s obligations under the Promissory Note, the Company entered into a Security Agreement with the
Holder, pursuant to which the Company granted a lien on all assets of the Company (the “Collateral”) for the benefit of Paseco
ApS, Rene Sindlev and Laksya Ventures. Upon an Event of Default (as defined in the notes, respectively) Paseco ApS, Rene Sindlev and Laksya
Ventures may, among other things, collect or take possession of the Collateral, proceed with the foreclosure of the security interest
in the Collateral or sell, lease, or dispose of the Collateral (see Note 8 to the Financial Statements).

Cash Flows

Year ended June 30, 2025 compared to the year ended June 30, 2024

Following is a summary of the
Company’s cash flows provided by (used in) operating, investing, and financing activities:

    For the Years Ended

    June 30,

    2025 
    2024
  
    Net Cash Used in Operating Activities 
    $(7,874,647) 
    $(10,971,430)
  
    Net Cash Used in Investing Activities 
     (500,000) 
     (1,260,179)
  
    Net Cash Provided by Financing Activities 
     8,382,772  
     10,517,455 
  
    Effect of exchange rates on cash 
     (135,892) 
     60,141 
  
    Net (Decrease) in Cash 
    $(127,767) 
    $(1,654,013)

At June 30, 2025, we had cash
and cash equivalents of $92,700