Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 145

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 145
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 extended to December 31, 2024. The Company
is required to pay interest on the maturity date. The January 2024 Note will be accounted for under ASC 470-20, and all proceeds received
from the issuance will be recognized as a liability on the balance sheet net of discount. For the year ended June 30, 2024, discount amortization
of $26,315 was charged to interest expense. As of June 30, 2024, the Company accrued $31,579 of interest expense that is included in accrued
expenses on the balance sheet. The Note balance, net of discount at June 30, 2024 was $526,315. In connection with the entry into the
January 2024 Note, the Company and Paseco ApS agreed to amend and restate a Security Agreement to add the Company’s obligations
under the November 2023 Note and the January 2024 Note to the Secured Obligations (as defined in the Amended and Restated Security Agreement).

On November 22, 2023, Renovaro
Cube entered into a loan agreement where the holder agreed to loan the Company up to £500,000 (approximately $624,000 USD). The
note had a repayment date occurring the first business day after the first anniversary of the draw down of the loan. The first draw down
of £250,000 occurred on November 27, 2023, and the second draw down of £250,000 occurred on December 13, 2023. The Company
paid interest on the loan at the rate of 10%
per annum. Interest was accrued quarterly in arrears on the last business day of March, June, September, and December and was payable
on the repayment date. On June 14, 2024 the Company sold 454,708Units to the holder and terminated $665,387in aggregate principal amount and accrued interest and received in cash an aggregate amount of $100,400in consideration for the Units which was applied against the loan. For the year ended June 30, 2024, the Company recorded $36,388of interest expense related to this loan. The total amount of the loan at June 30, 2024, is zero 0.

On November 3, 2023, the
Company entered into an agreement with RS Bio to issue a 5%
Original Issue Discount Promissory Note for the principal amount of $1,000