Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 177

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 177
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 pursuant to which Mr.
Miller will provide advice to the Board and the Company on various matters including strategic opportunities, capital allocation, business
development, minority investments and licensing arrangements, among others. As compensation for these services, the Company will issue
Mr. Miller 1,000,000 shares of restricted stock, 166,667 of which will vest in 2024, 444,444 will vest in 2025, and 388,889 will vest
in 2026, subject to Mr. Miller’s continued service through each applicable vesting date.

On August 1, 2023, RS Bio, purchased
in a Private Placement 70,126 of the Company’s Units at a price per Unit equal to $7.13 for aggregate proceeds to the Company of
$500,000. The Board of Directors (excluding Mr. Sindlev) approved the participation of certain officers and directors of the Company in the Private Placement on identical terms as the other investors of the Private Placement (see Note
8.)

On August 1, 2023, Paseco ApS,
in connection with the Private Placement, converted $2,000,000 of its Promissory Note into 280,505 of the Company’s Units at a price
per Unit equal to $7.13. In addition, Paseco ApS purchased in the Private Placement 63,114 of the Company’s Units at a price per
Unit equal to $7.13 for aggregate proceeds to the Company of $450,000. As a result of participation in the Private Placement, Paseco ApS
was deemed to be an affiliate of the Company (see Note 8.)

The Company currently has a consulting
agreement with Paseco ApS for business advisory services since December of 2019. For the years ended June 30, 2023 and 2024 the Company
issued zero and 1,000,000 restricted common shares, respectively, as payment for services rendered thereunder.

The information
set forth above in Note 8—Debt—Notes Payable—Promissory Note relating to the Promissory Note issued to Paseco ApS is
incorporated herein by reference.

F-37

NOTE 13 — ACQUISITION

On September 28, 2023, the Company, entered into a Stock Purchase Agreement
(the “Purchase Agreement”) with GEDi Cube Intl Ltd., a private company formed
under the laws of England and