Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001731122-25-000258
Chunk: 110

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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 products, to conduct the clinical and regulatory work to develop our product candidates, and to begin building
working capital reserves.

Results of Operations for the Three and Six Months ended December 31,
2024 and 2023

The following table sets forth
our revenues, expenses and net loss for the six months ended December 31, 2024 and 2023. The financial information below is derived from
our unaudited condensed consolidated financial statements.

    For the Three Months Ended 

    For the Six Months Ended 

    December 31, 
    Increase/(Decrease) 
    December 31, 
    Increase/(Decrease)

    2024 
    2023 
    $ 
    % 
    2024 
    2023 
    $ 
    %
  
    Operating Expenses 

    General and administrative 
    $4,353,123  
    $3,616,392  
    $736,731  
     20% 
    $9,654,373  
    $11,906,602  
    $(2,252,229) 
     (19)%
  
    Research and development 
     161,084  
     620,521  
     (459,437) 
     (74)% 
     551,273  
     1,187,165  
     (635,892) 
     (54)%
  
    Goodwill impairment 
     —  
     —  
     —  
     0% 
     47,614,729  
     —  
     47,614,729  
     100%
  
    Depreciation and amortization 
     32,109  
     33,162  
     (1,053) 
     (3)% 
     64,494  
     60,422  
     4,072  
     7%
  
    Total Operating Expenses 
     4,546,316  
     4,270,075  
     276,241  
     6% 
     57,884,869  
     13,154,189  
     44,730,680  
     340%
  
    LOSS FROM OPERATIONS 
     (4,546,316) 
     (4,270,