Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000254
Chunk: 30

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 30
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 consideration was based on the closing price of the Company’s common stock as of the Acquisition Date. The fair value of the contingent consideration was based on the Sellers’ right to receive additional shares of common, pro rata, upon the exercise or conversion of warrants, options and convertible notes payables outstanding as of the Closing Date.

18

The following table details the provisional fair values of the assets acquired and liabilities assumed at the acquisition date:

| Schedule of fair value of assets acquired and liabilities assumed |     |   |             |   |
|:------------------------------------------------------------------|:----|:--|------------:|:--|
| Cash                                                              |     | $ |      65,851 |   |
| Prepaid & Other Assets                                            |     |   |     151,544 |   |
| Fixed Assets                                                      |     |   |      16,243 |   |
| Operating lease ROU                                               |     |   |     624,366 |   |
| Total Assets Acquired:                                            |     |   |     858,004 |   |
| Accounts Payable                                                  |     |   |     583,577 |   |
| Accrued Expenses                                                  |     |   |     722,509 |   |
| Operating Lease liability                                         |     |   |     624,367 |   |
| Notes Payable                                                     |     |   |   1,832,460 |   |
| Total Liabilities Assumed                                         |     |   |   3,762,913 |   |
| Net Assets Acquired                                               |     |   |  (2,904,909 | ) |
| Goodwill                                                          |     |   | 159,464,040 |   |
| Total Consideration                                               |     | $ | 156,559,131 |   |

The goodwill
recognized is attributable primarily to expected synergies and the assembled workforce of Gedi Cube. None of the goodwill is expected
to be deductible for income tax purposes.

The fair
values of the acquired tangible and intangible assets were determined using variations of the income approach. The income approach valuation
methodology used for the intangible assets acquired makes use of Level 3 inputs.

The amounts
of revenue and loss of Renovaro Cube, included in the Company’s condensed consolidated statements of operations from the three months
ended September 30, 2024 are as follows:

| Schedule of consolidated statements of operations |     |   |             |   |
|:--------------------------------------------------|:----