Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 9

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 9
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 losses for the foreseeable future.

Grace
Systems (Renovaro Cube’s predecessor) has primarily incurred net losses since its inception in 2013 and has never generated any
revenue relating to its cancer diagnostics AI platform. Renovaro Cube anticipates that it may continue to incur primarily net losses in
the foreseeable future. Similarly, while BioSymetrics has a history of revenue generation since its inception in 2017, these revenues
have been inconsistent. Both Renovaro Cube and BioSymetrics have invested significant financial resources in research and development
activities, including to develop their technologies and investigational products. The amount of each company’s future net losses
will depend, in part, on the level of future expenditures and their ability to generate revenue following the commercialization of their
AI platform. Moreover, net losses may fluctuate significantly from quarter to quarter and year to year, such that a period-to-period comparison
of results of operations may not be a good indication of future performance.

Renovaro
Cube and BioSymetrics expect to continue to incur significant expenses and operating losses for the foreseeable future if, and as, they:

    ●
    attract, hire, and retain qualified personnel;

    ●
    continue their research and development activities;

    ●
    initiate and conduct additional clinical validation to support the development and commercialization of products;

    ●
    expands their technological and operating capabilities and introduce laboratory capacity;

    ●
    seek regulatory approvals and any other marketing authorizations or clearances that may be necessary or desired for their products;

    ●
    establish sales, marketing and distribution infrastructure to commercialize products;

    ●
    acquire or in-license additional intellectual property and technologies;

    ●
    make milestone, royalty, or other payments due under any license or collaboration agreements;

    ●
    obtain, maintain, protect and enforce their intellectual property portfolio, including intellectual property obtained through license agreements;

    ●
    provide additional infrastructure to support continued research and development operations and any planned commercialization efforts in the future;

    ●
    as part of the combined company, meets the requirements and demands of being a public company; and

    ●
    defends against any product liability claims or other lawsuits related to its products.

Renovaro
Cube has never generated revenue from its cancer diagnostics AI platform, and does not expect any near-term revenue to offset
Renovaro Cube’s ongoing operating expenses, and may never be able to maintain profitability.

Renovaro