Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 94

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 94
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 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 2025 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.

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RESULTS OF OPERATIONS

Year ended June 30, 2024 compared to the year ended June 30, 2023.

The following table sets forth
our revenues, expenses and net loss for the years ended June 30, 2024 and 2023. 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) |   |     |   |       |    |
|:-------------------------------------------------------------|:----|--------------------:|------------:|:--|:----|-----:|------------:|:--|:----|:--|--------------------:|:--|:----|:--|------:|:---|
|                                                              |     |                2024 |             |   |     | 2023 |             |   |     | $ |                     |   |     | % |       |    |
| Operating Expenses                                           |     |                     |             |   |     |      |             |   |     |   |                     |   |     |   |       |    |
| General and administrative                                   |     |                   $ |  24,557,608 |   |     |    $ |  15,318,198 |   |     |   |           9,239,410 |   |     |   |    60 | %  |
| Research and development                                     |     |                     |   2,708,829 |   |     |      |   4,165,197 |   |     |   |          (1,456,368 | ) |     |   |   (35 | )% |
| Intangible asset impairment                                  |     |                     |  42,611,000 |   |     |      |  18,960,000 |   |     |   |          23,651,