Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 90

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 90
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 allegations as in the Derivative Complaint. The Court denied the Application on January 24, 2024. The defendants have not
yet responded to the Derivative Complaint. The Company denies the allegations in the Derivative Complaint and intends to vigorously defend
against the claims asserted therein.

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Item 1A. Risk Factors.

Risk factors that may affect our
business and financial results are discussed within Item 1A. “Risk Factors” of our annual report for the fiscal year ended
June 30, 2023, on Form 10-K (“2023 Form 10-K”) filed with the SEC on October 2, 2023.

The following risk factors are
in addition to the risks referenced above. The effects of the events and circumstances described in the following risk factors may heighten
the risks contained in the Company’s Annual Report on Form 10-K.

Risks Related to Renovaro Cube

Risks Related to Renovaro Cube’s Limited Operating History, Financial Position and Capital Requirements

Renovaro Cube is an artificial intelligence (“AI”)-driven healthcare technology company operating in a rapidly evolving field and has a limited operating history, which makes it difficult to evaluate Renovaro Cube’s current business and predict Renovaro Cube’s future performance.

Renovaro
Cube is an AI-driven healthcare technology company operating in a rapidly evolving field and, having commenced operations in 2013,
has a limited operating history. Renovaro Cube shifted its business from the financial technology (or FinTech) industry to cancer diagnostics
only in 2018. Renovaro Cube does not currently have a commercial product for sale. Renovaro Cube has never generated any revenue relating
to its cancer diagnostics AI platform. Renovaro Cube’s short operating history as a company makes any assessment of its current
business or future success and viability subject to significant uncertainty. Renovaro Cube expects to encounter risks and difficulties,
including those frequently experienced by early-stage companies in rapidly evolving fields. If Renovaro Cube does not address
these risks and difficulties successfully, its business will suffer.

Renovaro Cube has a history of net losses and anticipates that it may continue to incur net losses for the foreseeable future.

Grace
Systems (Renovaro Cube’s predecessor) has primarily incurred net losses since its inception in 2013 and has never generated any
revenue relating to its cancer diagnostics AI platform. Renovaro Cube anticipates that it may continue to incur primarily