Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001731122-25-000258
Chunk: 17

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 the Company’s Common Stock in whole or in part at any time and from time to time, after the
original issue date and prior to the Maturity Date, at a conversion price of $3.38 per share.

The January 2024 Note and December
2023 Notes balance at December 31, 2024 was $245,000.

Notes Payable —

 Bridge Loans — From
October 21, 2024 to December 30, 2024, the Company entered into agreements with Paseco ApS, a Danish entity controlled by a shareholder
(“Paseco ApS”), to issue Promissory Notes for the principal amount of $1,750,000. The Company received $1,750,000 in gross
proceeds. The note bears an interest rate of 10% per annum and mature from December 31, 2024 to January 31, 2025. Approximately $700,000
matured on December 31, 2024. The note balance at December 31, 2024 was $1,750,000.

From November 12, 2024 to December
3, 2024, Renovaro Cube entered into an agreement with Paseco ApS, a Danish entity controlled by a shareholder (“Paseco ApS”),
to issue Promissory Notes for the principal amount of €500,000. The note bears an interest rate of 10% per annum and matures on December
1, 2025. The note balance at December 31, 2024 was approximately $527,000.

On November 1 2024, Renovaro Cube
entered into an agreement with Yalla Yalla Limited, an investor to issue a Promissory Note for the amount of approximately €230,000.
The note bears an interest rate of 10% per annum and matures on February 24, 2025. The note balance at December 31, 2024 was approximately
$238,000.

 On September 16, 2024, the Company
entered into an agreement with RS Bio ApS, a Danish entity controlled by a shareholder (“RS Bio”), to issue a Promissory Note
for the principal amount of $100,000 (the “September 2024 Note”). The Company received $100,000 in gross proceeds. The note
bears an interest rate of 12% per annum and matured on December 31, 202