Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 48

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 48
---
--|:----|:--------------------------|-----:|:----|:-----------------------|-----:|:----|:---------------------------|----------:|
| Outstanding at beginning of period |     |        |  4,401,211 |   |     | $                         | 4.78 |     |                        | 7.82 |     | $                          |         — |
| Granted                            |     |        |  4,624,026 |   |     | $                         | 1.97 |     |                        |      |     |                            |           |
| Exercised                          |     |        |          — |   |     | $                         |    — |     |                        |      |     |                            |           |
| Forfeited                          |     |        |          — |   |     | $                         |    — |     |                        |      |     |                            |           |
| Expired/Canceled                   |     |        | (3,856,931 | ) |     | $                         | 4.94 |     |                        |      |     |                            |           |
| Outstanding at end of period       |     |        |  5,168,306 |   |     | $                         | 2.15 |     |                        | 7.35 |     | $                          |         — |
| Exercisable at end of period       |     |        |  3,657,550 |   |     | $                         | 2.28 |     |                        | 6.99 |     | $                          | 3,839,725 |

At March 31, 2024, the Company had Plan Options to purchase 3,657,550 shares
of common stock that were exercisable. The total intrinsic value of options exercisable at March 31, 2024, was $3,839,725. Intrinsic value
is measured using the fair market value at the date of exercise (for shares exercised) and at March 31, 2024 (for outstanding options),
less the applicable exercise price.

26

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

NOTE 9 — STOCKHOLDERS’ EQUITY (Continued)

Common Stock Purchase Warrants

A summary of the status of the
Common Stock Purchase Warrants outstanding at March 31,