Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 21

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 21
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     |                                            | — |     |                   | — |     |                                       | (7,775,656 | ) |
| Fair value adjustment                                                     |     |                                            | — |     |                   | — |     |                                       |  7,289,156 |   |
| Contingent Consideration Liability at March 31, 2024                      |     |                                            | — |     |                   | — |     | $                                     | 20,071,000 |   |

NOTE 5 — PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

| Schedule of property and equipment |     |     | Useful Life |     |   | March 31, 2024 |   |     |   | June 30, 2023 |   |
|:-----------------------------------|:----|:----|------------:|:----|:--|---------------:|:--|:----|:--|--------------:|:--|
| Lab Equipment and Instruments      |     |     |         4-7 |     | $ |        617,882 |   |     | $ |       576,298 |   |
| Leasehold Improvements             |     |     |          10 |     |   |        224,629 |   |     |   |       224,629 |   |
| Furniture, Fixtures and Equipment  |     |     |         4-7 |     |   |        194,398 |   |     |   |       172,861 |   |
| Total                              |     |     |             |     |   |      1,036,909 |   |     |   |       973,788 |   |
| Less Accumulated Depreciation      |     |     |             |     |   |       (547,994 | ) |     |   |      (464,799 | ) |
| Net Property and Equipment         |     |     |             |     | $ |        488,915 |   |     | $ |       508,989 |   |

Depreciation expense amounted to
$29,526 and $83,203 for the three and nine months ended March 31, 2024, respectively, and $26,662 and $80,915 for the three and nine months
ended March 31, 2023, respectively.

13

RENOVARO INC. AND SUBSIDIARIES
NOTES TO UN