Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000254
Chunk: 13

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 13
---
 2023 Notes bear an interest rate of 12%per annum and shall mature one year after their respective dates of issuance (the “Maturity Date”). The Company is required to pay interest quarterly, in arrears,
in cash, on the first day of each quarter of each year following the issue date prior to the maturity of the December 2023 Notes. Notwithstanding
the immediately foregoing, at the option of the holder, interest may accrue on the December Notes on a quarterly basis. The December 2023
Notes are convertible into shares of the Company’s Common Stock in whole or in part at any time and from time to time, after the
original issue date and prior to the Maturity Date, at a conversion price of $3.38 per share.

The January 2024 Note and December
2023 Notes balance at September 30, 2024 was $245,000.

Notes Payable—

Bridge Loans —On
September 16, 2024, the Company entered into an agreement with RS Bio ApS, a Danish entity controlled by a shareholder (“RS Bio”),
to issue a Promissory Note for the principal amount of $100,000 (the “September 2024 Note”). The Company received $100,000
in gross proceeds. The note bears an interest rate of 12% per annum and matures on December 31, 2024. The note balance at September 30,
2024 was $100,000.

On September 6, 2024, the Renovaro
Cube entered into an agreement with Paseco ApS, a Danish entity controlled by a shareholder (“Paseco ApS”), to issue a Promissory
Note for the principal amount of €50,000. The note bears an interest rate of 12% per annum and matures on December 31, 2024. The
note balance at September 30, 2024 was approximately $57,000.

On February 5, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $105,263
(the “February 2024 Note”). The Company received $100,000 in gross proceeds after taking into account the 5% original issue
discount. The note bears an interest rate of 12% per annum and matures on December 31, 2024. The note balance, net of discount at September
30