Company: LNAI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001731122-25-001544
Chunk: 11

Company: Lunai Bioworks Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 Amortization
 
 Impairment
 
Translation Adjustment
 
September 30, 2025

Definite Life Intangible Assets

Software platform
 
5 Years
 
$
143,000

$
—

$
(13,712
)
 
$
—

$
—

$
129,288

Trademark
 
2 Years
 
$
8,000

$
—

$
(1,918
)
 
$
—

$
—

$
6,082

Patents
 
20 Years
 
$
313,010

$
—

$
—

$
—

$
(1,093
)
 
$
311,917

Less Accumulated Amortization

(298,016
)

—

(2,659
)

—

6,368

(294,307
)

Net Definite-Life Intangible Assets

$
165,994

$
—

$
(18,289
)
 
$
—

$
5,275

$
152,980

Goodwill

Goodwill

5,963,000

—

—

—

—

5,963,000

Total Goodwill

$
5,963,000

$
—

$
—

$
—

$
—

$
5,963,000

Expected future amortization expense is as follows:

Schedule of future amortization expense

Years ended June 30,

2026

$
32,420

2027

32,420

2028

29,380

2029

29,380

Thereafter

29,380

Total

$
152,980

NOTE 5 — DEBT

Convertible Notes Payable —

The January 2024 Note —
On January 12, 2024, the Company entered into Subscription Agreements with an investor to issue a Convertible Promissory Note for an aggregate
principal amount of $125,000 (the “January 2024 Note”). The Company received a total of $125,000 in gross proceeds. The
January 2024 Note bears an interest rate of 12% per annum and matured on December 29, 2024. 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 January 2024
Note. The January 2024 Note is convertible either at the option of the holder or automatically upon maturity into shares of the Company’s
Common Stock at the Note Conversion Price of $33.80.

On September 18, 2025,