Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 170

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 170
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688  
     (140,964) 
     11,126,652  
     (7,893)%

    Comprehensive Loss 
    $(167,0021,801) 
    $(88,566,792) 
    $(78,455,009) 
     89%

57

Revenues

We are a pre-revenue, pre-clinical
biotechnology and artificial intelligence driven healthcare technology company. We have never generated revenues and have incurred losses
since inception. We do not anticipate earning any revenues until our therapies or products are approved for marketing and sale.

Operating Expenses

Our operating expenses for the
years ended June 30, 2025 and 2024 were $188,966,002 and $81,639,296, respectively, representing an increase of $107,326,706 or 131%.
The largest contributors to the increase in operating expenses for the year ended June 30, 2025, were the increase in the non-cash goodwill
impairment of $158,779,429 partially offset by the decreases in the non-cash intangible asset impairment of $42,611,000, general and administrative
expenses of $6,677,558 and in research and development expenses of $2,171,401 compared to the year ended June 30, 2024.

General and administrative expenses
for the years ended June 30, 2025 and 2024, were $17,880,050 and $24,557,608, respectively, representing a decrease of $6,677,558, or
27%. The decrease in general and administrative expenses is primarily related to decreases in consulting expenses of $2,783,367, legal
expenses of $2,260,485, stock based compensation expense of $1,359,838, sales tax expense of $717,744, investor relations expenses of
$526,229, advertising expenses of $247,491, board member compensation of $238,855, partially offset by an increase in compensation related
expenses of $986,127, rent expenses of $174,590, information technology expenses of $145,199 and subscription related expenses of $112,738.

Research and development expenses
for the years ended June 30, 2025, and 2024, were $537,428 and $2,708,829, respectively, representing a decrease of $2,171,401 or 80%.
The decrease in research and