Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001731122-25-000258
Chunk: 95

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 95
---
to be deductible for income tax purposes.

The fair
values of the acquired tangible and intangible assets were determined using variations of the income approach. The income approach valuation
methodology used for the intangible assets acquired makes use of Level 3 inputs.

    21

Consolidated unaudited pro forma information: 

The following consolidated pro
forma information assumes that the acquisition of Renovaro Cube took place on July 1, 2023 for the statement of operations for the six
month period ended December 31, 2023. These amounts have been estimated after applying the Company’s accounting policies:

    Schedule of consolidated proforma information 

    Three months ended
December 31, 2023 
    Six months ended
December 31, 2023
  
    Revenues 
    $—  
    $— 
  
    Net loss 
    $(5,672,771) 
    $(15,977,356)

The unaudited
pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations
would have been if the acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of
operations.

NOTE 11 — SUBSEQUENT EVENTS 

From January 10, 2025, to January 24,
2025, the Company issued Promissory Notes in the aggregate principal amount of $900,000. The Notes bear an interest rate of 10% per
annum and mature on June 30, 2025, (the “Maturity Date”). The Company is required to pay principal and interest on the
Maturity Date.

On February 7, 2025, the Company entered into a credit
agreement with a third party with a total capacity of up to $4,000,000. The credit agreement matures on the earlier of February 6, 2030
or in the event of a default in which the lender accelerates the maturity of the loan. Any borrowings under the loan bear interest at
10% per annum and are payable at maturity. In the event any borrowing remains unpaid at when the borrowing becomes due, the interest rate
increases to 15% per annum. All principal and interest are due at maturity, the agreement does not require periodic payments nor are there
any prepayment penalties for any borrowings under the credit agreement.

Additionally, for each borrowing under the credit agreement,
the lender will receive warrants equal to the quotient