Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 39

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 39
---
 the Company made payments of $ 223,945and $ 646,128, respectively. For the three and nine months ended March 31, 2023, under a similar arrangement, the Company made payments of $ 374,367and $ 840,992, respectively. For the three and nine months ended March 31, 2024, the Company recorded total interest expense in the amount of 7,436and $ 12,692related to the Agreement. This amount is reflected in other income and expenses.

Total interest expense recorded
for the three and nine months ended March 31, 2024, was $303,802 and $758,057, respectively. Interest expense recorded for the three and nine months ended March 31, 2023, was $ 122,289and $ 310,766, respectively.

21

RENOVARO INC. AND SUBSIDIARIES
NOTES TO UNAUDITED RESTATED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 9 — STOCKHOLDERS’ EQUITY

Preferred Stock—
The Company has 10,000,000
authorized shares of Preferred Stock, par value $0.0001
per share, of which 1,000,000
shares have been designated as Series A Convertible Preferred Stock. At March 31, 2024, and June 30, 2023, there were zero
0 shares
of Series A Convertible Preferred Stock issued and outstanding.

Voting —Holders of
Series A Preferred Stock shall be permitted to vote on all matters required or permitted to be voted on by the holders of Common Stock
of the Company and shall be entitled to that number of votes equal to ten votes for the number of shares of Common Stock into which such
Holder’s shares of Preferred Stock could then be converted in accordance with conversion rights.

Dividends —The
Company shall pay dividends on shares of Series A Preferred Stock equal (on an as-if-converted-to-Common-Stock basis) to and in the same
form as dividends actually paid on shares of the Common Stock when, as and if such dividends are paid on shares of the Common Stock. No
other dividends shall be paid on shares of Preferred Stock.

Liquidation Rights —
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of Shares of Series A
Preferred Stock then outstanding shall be entitled to be paid out of the assets