Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 905

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 905
---
    the Years Ended

    June
    30,

    2025 
    2024
  
    CASH
    FLOWS FROM OPERATING ACTIVITIES: 

    Net
    loss 
    $(178,007,489) 
    $(88,425,828)

    ADJUSTMENTS
    TO RECONCILE NET LOSS TO NET CASH USED IN OPERATING ACTIVITIES: 

    Depreciation
    and amortization 
     129,095  
     121,859 
  
    Change
    in fair value of contingent consideration 
     (11,680,000) 
     3,048,183 
  
    Change
    in value of equity securities 
     112,149  
     — 
  
    Loss
    on extinguishment of debt 
     —  
     1,303,578 
  
    Non-cash
    stock-based compensation expense 
     3,313,291  
     4,673,129 
  
    Non-cash
    restricted shares issued for services rendered 
     1,946,845  
     4,664,190 
  
    Intangible
    asset impairment 
     —  
     42,611,000 
  
    Goodwill
    impairment 
     170,419,429  
     11,640,000 
  
    Amortization
    of discount on note payable 
     32,024  
     580,605 
  
    Changes
    in assets and liabilities: 

    Other
    receivables 
     1,153,768  
     (1,108,247)
  
    Prepaid
    expenses/deposits 
     1,143,293  
     1,082,267 
  
    Accounts
    payable 
     3,106,181  
     4,057,282 
  
    Other
    current liabilities 
     (26,477) 
     — 
  
    Operating
    leases, net 
     (16,086) 
     11,284 
  
    Accrued
    expenses 
     499,330  
     4,769,268 
  
    NET
    CASH USED IN OPERATING ACTIVITIES 
     (7,874,647) 
     (10,971,430)