Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 105

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 105
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 Quoted Prices in  Active Markets for Identical Assets Inputs 
    Significant Other  Observable Inputs 
    Significant Other Unobservable Inputs

    (Level 1) 
    (Level 2) 
    (Level 3)

    The roll forward of the contingent consideration liability is as follows: 

    Balance June 30, 2024 
     —  
     —  
    $12,310,000 
  
    Fair value adjustment 
     —  
     —  
     (11,680,000)
  
    Contingent Consideration Liability at June 30, 2025 
     —  
     —  
    $630,000 

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at
June 30, 2025 and 2024:

    Schedule of Property and equipment 

    Useful Life 
    June 30, 2025 
    June 30, 2024
  
    Lab equipment and instruments 
     4-7  
    $639,998  
    $639,998 
  
    Leasehold improvements 
     10  
     224,629  
     224,629 
  
    Furniture, fixtures, and equipment 
     4-7  
     205,396  
     195,834 
  
    Total 
        
     1,070,023  
     1,060,461 
  
    Less accumulated depreciation 
        
     (702,180) 
     (578,340)
  
    Net Property and Equipment 
        
    $367,843  
    $482,121 

Depreciation expense amounted
to $119,193 and $113,563 for the years ended June 30, 2025 and 2024, respectively.

NOTE 5 — INTANGIBLE ASSETS AND GOODWILL

At June 30, 2025, definite-life
intangible assets, net of accumulated amortization, consisted of patents, software platform and trademarks on the Company’s products
and processes of $14,994, $143,000 and $8,000. At June 30, 2024, definite-life intangible assets, net of accumulated amortization, consisted
of patents on the Company’s products and processes of $30,043. The patents are recorded at cost and amortized over twenty years