Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 541

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 4
Chunk 541
---
 of common stock upon full conversion of such Convertible Notes without any cash proceeds to the Company.

F-36

Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure

Not applicable.

Item 9A. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our Principal Executive Officer
and Principal Financial Officer (the “Certifying Officers”) are responsible for establishing and maintaining disclosure controls
and procedures for the Company. The Certifying Officers have designed such disclosure controls and procedures to ensure that material
information is made known to the Certifying Officers, particularly during the period in which this Report was prepared.

The Certifying Officers conducted
a review of the Company’s “disclosure controls and procedures” (as defined in the Exchange Act, Rules 13a-15(e) and
15-d-15(e)) as of the end of the period covered by this Annual Report (the “Evaluation Date”). Based upon that evaluation,
the Certifying Officers concluded that, as of June 30, 2025, our disclosure controls and procedures were not effective in ensuring that
the information we were required to disclose in reports that we file or submit under the Securities Exchange Act of 1934, as amended,
is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms.

Management Annual Report on Internal Control over Financial Reporting

Management is responsible for
establishing and maintaining adequate internal control over financial reporting for the Company. Management used the “Internal Control
over Financial Reporting Integrated Framework” issued by the Committee of Sponsoring Organizations (“COSO-2013”) to
conduct a review of the Company’s internal controls over financial reporting. As of June 30, 2025, Management concluded that internal
controls over financial reporting were not effective, based on COSO’s framework. The deficiency is attributed to the Company not
having adequate resources to address complex accounting matters. This control deficiency will be monitored, and attention will be given
to this matter as the Company grows.

This Annual Report does not include
an attestation report from the Company’s registered public accounting firm regarding internal controls over financial reporting.
Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to the rules
of the SEC that permit the Company to provide only management’s report in this Annual Report.

Changes in Internal Control over Financial Reporting

There were no changes in our internal
control over financial reporting that occurred during the period covered by this report that have