Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 958

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 958
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,508 
  
    Operating Lease liability 
     624,367 
  
    Notes Payable 
     1,832,460 
  
    Total Liabilities Assumed 
     3,762,913 
  
    Net Assets Acquired 
     (2,904,909)

    Goodwill 
     159,464,040 
  
    Total Consideration 
    $156,559,131 

The
goodwill recognized is attributable primarily to expected synergies and the assembled workforce of GEDi. None of the goodwill is expected
to be deductible for income tax purposes.

The fair
values of the acquired tangible and intangible assets were determined using variations of the income approach. The income approach valuation
methodology used for the intangible assets acquired makes use of Level 3 inputs.

The Company
recognized approximately $1.2 million of acquisition related costs that were expensed during the period ended June 30, 2024. These costs
are included in “selling, general and administrative expenses” in the accompanying condensed consolidated statements of operations.

Consolidated unaudited pro forma information: 

The following consolidated pro forma information assumes that the acquisition
of GEDi took place on July 1, 2023 for the statement of operations for the twelve-month period ended June 30, 2024. These amounts have
been estimated after applying the Company’s accounting policies:

    F-34

    Revenues 
    $— 
  
    Net loss 
    $(83,571,822)

The unaudited pro forma results
are presented for informational purposes only and are not necessarily indicative of what the actual results of operations would have been
if the acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations.

NOTE 14 — SEGMENT REPORTING

For the year ended June 30, 2025,
the Company had three reportable segments. These segments have different strategic and economic goals and are managed separately because
they require different technology and marketing strategies.

Reportable
Segment
 
Description

RENB
 
Developing new immunotherapies
to combat cancer 

BioSymetrics
 
Integrating multimodal data
sources, including genomics, imaging, electronic health records, and other real-world evidence, to advance biomarker discovery, therapeutic
development, and precision medicine.

RENC
 
Developing a predicative artificial intelligence based
diagnostic methodology for the use of earlier cancer detection 

The