Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 460

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 4
Chunk 460
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 operations, and are dependent on additional financing
to fund operations. These conditions raise substantial doubt about our ability to continue as a going concern for one year after the date
the financial statements are issued. The financial statements included elsewhere herein do not include any adjustments to reflect the
possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result
from the outcome of this uncertainty.

56

Management has reduced overhead
and administrative costs by streamlining the organization to focus around the development and validation of its AI driven cancer diagnostics
platform. The Company has tailored its workforce to focus on these activities. In addition, the Company intends to attempt to secure additional
required funding through equity or debt financing. However, there can be no assurance that the Company will be able to obtain any sources
of funding. Such additional funding may not be available or may not be available on reasonable terms, and, in the case of equity financing
transactions, could result in significant additional dilution to our stockholders. If we do not obtain required additional equity or debt
funding, our cash resources will be depleted and we could be required to materially reduce or suspend operations, which would likely have
a material adverse effect on our business, stock price and our relationships with third parties with whom we have business relationships,
at least until additional funding is obtained. If we do not have sufficient funds to continue operations, we could be required to seek
bankruptcy protection or other alternatives that could result in our stockholders losing some or all of their investment in us.

Funding that we may receive during
fiscal 2026 is expected to be used to satisfy existing and future obligations and liabilities and working capital needs, to support commercialization
of our products and conduct the clinical and regulatory work to develop our product candidates, and to begin building working capital
reserves.

RESULTS OF OPERATIONS

Year ended June 30, 2025 compared to the year ended June 30, 2024.

The following table sets forth
our revenues, expenses and net loss for the years ended June 30, 2025 and 2024. The financial information below is derived from our audited
consolidated financial statements included elsewhere in this Annual Report.

    For the Years Ended 

    June 30, 
    Increase/(Decrease)

    2025 
    2024 
    $ 
    %
  
    Operating Expenses 

    General and administrative 
    $17,880,050