Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 82

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 82
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 in legal or regulatory proceedings in which we are currently involved or in
the future may be involved could adversely affect our liquidity and financial position. We may raise such funds from time to time through
public or private sales of our equity or debt securities. Such financing may not be available on acceptable terms, or at all, and our
failure to raise capital when needed could materially adversely affect our growth plans and our financial condition and results of operations.

As of March 31, 2024, the Company
had $312,697 in cash and working capital of $(19,654,098) as compared to $1,874,480 in cash and working capital of $(8,457,693) as of
June 30, 2023, a decrease of 83% and 132%, respectively.

Assets

Total assets at March 31, 2024,
were $178,089,340 compared to $58,300,796 as of June 30, 2023. The increase in total assets was primarily due to the increase in goodwill
of $152,546,852 from the acquisition of Renovaro Cube.

Liabilities

Total liabilities at March 31,
2024, were $43,683,784 compared to $11,798,685 as of June 30, 2023. The increase in total liabilities was primarily related to increases
of $20,071,000 in contingent consideration liability, $3,031,803 in accrued expenses, $2,693,808 in accounts payable, $3,700,694 in convertible
notes payable, net of discount and $2,774,856 in deferred tax liability offset by a decrease of $1,206,326 in notes payable, net of discount.

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

|                                           |     |   | Nine Months 
       Ended 
   March 31, 
        2024 |   |     |   | Nine Months 
       Ended 
   March 31, 
        2023 |   |
|:------------------------------------------|:----|:--|------------:|:--|:----|:--|------------:|:--|
| Net Cash Used in Operating Activities     |     | $ |  (8,557,649 | ) |     | $ |  (9,512,937 | ) |
| Net Cash Used in Investing Activities     |     |