Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001731122-25-000258
Chunk: 20

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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4 and 2023, no shares of Common Stock to Lincoln Park were sold under the Purchase Agreement.

    13

Common Stock Issuances 

On June
14, 2024, Renovaro Inc., a Delaware corporation (the “Company”) closed a private placement of 5,315,215 of
the Company’s units, each such Unit consisting of (i) one share of the Company’s Common Stock and (ii) one common stock purchase
warrant to purchase one-tenth of a share of Common Stock, with certain investors (the “June 2024 Private Placement”). Related
to the June 2024 Private Placement, ranging from July 3, 2024, to October 10, 2024, the Company sold 1,613,596 Units at a price per Unit
equal to $1.4726 to a certain investor who paid in cash an aggregate amount of $2,376,181 in consideration of the Units.

On August 1, 2024, the Company
issued 2,000,000 shares of Common Stock for consulting services valued at $1,400,000.

On October 14, 2024, the Company
issued 250,000 shares of Common Stock to its Chief Executive Officer valued at $137,500.

On October 14, 2024, the Company
issued 500,000 shares of Common Stock for consulting services valued at $275,000.

On October 17, 2024, the Company
issued 160,000 shares of Common Stock for consulting services valued at $118,400.

Stock-based Compensation 

The Company recognizes compensation
costs for stock option awards to employees and directors based on their grant-date fair value. The value of each stock option is estimated
on the date of grant using the Black-Scholes option-pricing model. The weighted-average assumptions used to estimate the fair values of
the stock options granted using the Black-Scholes option-pricing model are as follows in the six months ended December 31, 2024:

    Schedule of weighted-average assumptions used to estimate the fair values of the stock options granted 

    Renovaro Inc.
  
    Expected term (in years) 
     5.5 
  
    Volatility 
     112.02% - 118.99%
  
    Risk free interest rate 
      3.86% - 4.22%
  
    Dividend yield