Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 87

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 87
---
840  
    $163,129,450 

The accompanying notes are an integral part of these
consolidated financial statements.

F-4

LUNAI BIOWORKS INC. FKA: RENOVARO INC. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF OPERATIONS

    For the Years Ended

    June 30,

    2025 
    2024

    Operating Expenses 

    General and administrative 
    $17,880,050  
    $24,557,608 
  
    Research and development 
     537,428  
     2,708,829 
  
    Intangible asset impairment 
     —  
     42,611,000 
  
    Goodwill impairment 
     170,419,429  
     11,640,000 
  
    Depreciation and amortization 
     129,095  
     121,859 
  
    Total Operating Expenses 
     188,966,002  
     81,639,296 
  
    LOSS FROM OPERATIONS 
     (188,966,002) 
     (81,639,296)

    Other Income (Expense) 

    Change in fair value of contingent consideration 
     11,680,000  
     (3,048,183)
  
    Loss on extinguishment of debt 
     —  
     (1,303,578)
  
    Change in fair value of equity securities 
     (112,149) 
     — 
  
    Interest expense 
     (725,684) 
     (1,011,322)
  
    Interest income and other income (expense) 
     116,346  
     (1,423,449)
  
    Total Other Income (Expense) 
     10,958,513  
     (6,786,532)

    NET LOSS 
    $(178,007,489) 
    $(88,425,828)

    BASIC AND DILUTED NET LOSS PER COMMON SHARE 
    $(1.08) 
    $(0.91)

    WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING - BASIC AND DILUTED 
     165,061,967  
     97,511,557 

The accompanying notes are an integral part of these
consolidated financial statements.

F-5