Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 132

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 132
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   |      (578,340 | ) |     |   |      (464,799 | ) |
| Net Property and Equipment         |     |     |             |     | $ |       482,121 |   |     | $ |       508,989 |   |

Depreciation expense amounted to
$113,563 and $107,321 for the years ended June 30, 2024 and 2023, respectively.

NOTE 6 — INTANGIBLE ASSETS AND GOODWILL

At June 30, 2024 and 2023, definite-life
intangible assets, net of accumulated amortization, consisted of patents on the Company’s products and processes of $30,043 and
$39,676, respectively. The patents are recorded at cost and amortized over twenty years from the date of application. Amortization expense
for the years ended June 30, 2024 and 2023 was $8,296 and $6,175, respectively.

At June 30, 2024 and 2023, indefinite
life intangible assets consisted of a license agreement classified as In-Process Research and Development (“IPR&D”) intangible
assets, which are not amortizable until the intangible assets provide economic benefit, and goodwill.

At June 30, 2024 and 2023, definite-life
and indefinite-life intangible assets consisted of the following:

| Schedule of definite-life                            
 and indefinite-life intangible assets                |     |          | Useful Life |   | June 30, 2023 |   |     |   |   Additions |     |   | Amortization |   |     |   | Impairment  |   |     |   | Translation Adjustment |   |     |   | June 30, 2024 |   |
|:-----------------------------------------------------|:----|:---------|:------------|:--|--------------:|:--|:----|:--|------------:|:----|:--|:-------------|:--|:----|:--|:------------|:--|:----|:--|-----------------------:|:--|:----|:--|--------------:|:--|
| Definite Life Intangible Assets                      |     |          |             |   |               |   |     |   |             |     |   |              |   |     |   |             |   |     |   |                        |   |