Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 32

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 32
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 develop, and seek regulatory approvals for our product candidates and any additional
product candidates we may acquire, in-license or develop, and potentially begin to commercialize product candidates that may achieve regulatory
approval. We may encounter unforeseen expenses, difficulties, complications, delays, and other unknown factors that may adversely affect
our business. The size of our future net losses will depend, in part, on the rate of future growth of our expenses and our ability to
generate revenues. If any of our product candidates fails in clinical studies or does not gain regulatory approval, or if approved, fails
to achieve market acceptance, we may never become profitable. Even if we achieve profitability in the future, we may not be able to sustain
profitability in subsequent periods. We anticipate that our expenses will increase in the future as we continue to invest in research
and development of our existing product candidates, investigate and potentially acquire new product candidates and expand our manufacturing
and commercialization activities.

There is substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing.

Our consolidated financial statements as of June 30, 2024, have been prepared
under the assumption that we will continue as a going concern for the next twelve months. As of June 30, 2024, we had cash and cash equivalents
of $220,467 and an accumulated deficit of $325 million. We do not believe that our cash and cash equivalents are sufficient for the next
twelve months. As a result of our financial condition and other factors described herein, there is substantial doubt about our ability
to continue as a going concern. Our ability to continue as a going concern will depend on our ability to obtain additional funding, as
to which no assurances can be given. We continue to analyze various alternatives, including potentially obtaining debt or equity financings
or other arrangements. Our future success depends on our ability to raise capital. We cannot be certain that raising additional capital,
whether through selling additional debt or equity securities or obtaining a line of credit or other loan, will be available to us or,
if available, will be on terms acceptable to us. If we issue additional securities to raise funds, these securities may have rights, preferences,
or privileges senior to those of our Common Stock, and our current shareholders may experience dilution. If we are unable to obtain funds
when needed or on acceptable terms, we may be required to curtail our current development programs, cut operating costs, forgo future
development and other opportunities