Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 46

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 46
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,572shares of Common Stock, to the Board of Directors and Scientific Advisory Board Members with a one-year vesting period under the 2019 Plan, respectively.

During the three and nine months
ended March 31, 2024, the Company granted options to purchase zero and 26,000 shares, respectively of Common Stock for Scientific Advisory
Board members with immediate vesting under the 2023 Plan. During the three and nine months ended March 31, 2023, the Company did not grant options toScientific Advisory Board members to purchase shares of Common Stock with immediate vesting.

During the three and nine months ended March 31, 2024, the Company granted options to purchase 10,000 shares of Common Stock to a consultant with ten months vesting.During the three and nine months ended March 31, 2024, the Company forfeited zero and 7,000 options, respectively,
to purchase shares of Common Stock to a consultant with immediate vesting.

25

RENOVARO INC. AND SUBSIDIARIES
NOTES TO UNAUDITED RESTATED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 9 — STOCKHOLDERS’ EQUITY (Continued)

All of the above options
are exercisable at the market price of the Company’s Common Stock on the date of the grant. On February 13, 2024, the Company repriced 3,849,931 eligible employee
and consultant options from the original issued exercise price to $1.92 per share, the closing price of the Company’s Common Stock
on February 13, 2024. The Company recognized stock-based compensation expense related to the
repricing of options of $886,849 for the period ended March 31, 2024.

To date the Company has granted
options under the 2014, 2019 and 2023 Plans (“Plan Options”) to purchase 6,306,275 shares of Common Stock. At March 31, 2024,
the Company has 4,875,419 options available to be issued under the 2023 Plan.

A summary of the status of the
Plan Options outstanding at March 31, 2024, is presented below:

| Schedule of stock options outstanding |     | Options Outstanding   
 Exercise Price Ranges |            |     | Number Outstanding |           |     | Weighted Average Remaining Contractual Life (years) |      |     | Weighted Average Exercise Price