Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 111

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 111
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,549 | ) |
| Net Cash Used in Investing Activities     |     |                     |  (1,260,179 | ) |     |   |     (29,774 | ) |
| Net Cash Provided by Financing Activities |     |                     |  10,517,455 |   |     |   |   4,515,056 |   |
| Effect of exchange rates on cash          |     |                     |      60,141 |   |     |   |      (8,395 | ) |
| Net (Decrease) in Cash                    |     | $                   |  (1,654,013 | ) |     | $ |  (7,297,662 | ) |

At June 30, 2024, we had cash and
cash equivalents of $220,467, a decrease of 1,654,013, when compared to the June 30, 2023 balance of $1,874,480. This decrease was primarily
due to cash used in operating activities, partially offset by cash provided by financing activities.

We plan to use our cash and cash
equivalents to fund research and development, specifically to increase investment in the development and validation of our AI driven cancer
diagnostics platform. These activities will require an increase in selling, general and administrative costs, and research and development
costs to support the expected growth. As additional funds are required, we may raise such funds from time to time through public or private
sales of our equity or debt securities.

Cash used in operating activities represents the cash receipts and disbursements related to all of our activities other than investing and financing activities. Operating cash flow is derived by adjusting our net loss for non-cash items and changes in operating assets and liabilities.Net cash used in operating
activities for the years ended June 30, 2024 and 2023 was $10,971,430 and $11,774,549, respectively, representing a decrease of $803,119.
The decrease is primarily related to the changes in our operating assets and liabilities.

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Net cash used in investing activities for the years ended June 30, 2024 and
2023 was $1,260,179 and $29,774, respectively, representing an increase of $1,230,405. The increase is primarily due to notes receivable
prior to acquisition of Renovaro Cube of $1,255,600 and purchases of equipment in the