Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 83

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 83
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   |  (1,206,806 | ) |     |   |     (23,633 | ) |
| Net Cash Provided by Financing Activities |     |   |   8,050,737 |   |     |   |   3,267,008 |   |
| Effect of exchange rates on cash          |     |   |     151,935 |   |     |   |      45,462 |   |
| Change in Cash and Cash Equivalents       |     | $ |  (1,561,783 | ) |     | $ |  (6,224,100 | ) |

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Cash Flows

Cash used in operating activities
for the nine months ended March 31, 2024, and 2023 was ($8,557,649) and ($9,512,937), respectively. Cash used in operating activities
during the current period primarily related to the net loss including $2,274,321 in research and development expenses for CDMO and CRO
costs, along with approximately $10,477,101 in general and administrative expenses, net of non-cash items, partially offset by an increase
in accounts payable of $2,693,808 and accrued expenses of $3,031,803 due to the timing of cash payments and a $216,293 increase in prepaid
expenses.

Cash used in investing activities
for the nine months ended March 31, 2024, and 2023 was ($1,206,806) and ($23,633), respectively. Cash used in investing activities during
the current period primarily related to the issuance of notes receivable prior to the acquisition of Renovaro Cube totaling $1,193,000
in principal and $32,779 of interest accrued as of February 13, 2024.

Cash provided by financing activities
for the nine months ended March 31, 2024, was $8,050,737 as compared to cash provided by financing activities of $3,267,008 during the
nine months ended March 31, 2023. During the nine months ended March 31, 2024, the Company received net proceeds of $5,355,000 from issuance
of notes payable, $3,000,000 from private placements and $341,865 from Common Stock warrants exercised, that were partially offset by
$646,128 in repayment of a finance agreement.

Off