Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001731122-25-000258
Chunk: 18

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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4. The note balance at December 31, 2024 was $100,000.

    12

On September 6, 2024, Renovaro
Cube entered into an agreement with Paseco ApS, a Danish entity controlled by a shareholder (“Paseco ApS”), to issue a Promissory
Note for the principal amount of €50,000. The note bears an interest rate of 12% per annum and matures on September 9, 2025. The
note balance at December 31, 2024 was approximately $57,000.

On February 5, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $105,263
(the “February 2024 Note”). The Company received $100,000 in gross proceeds after taking into account the 5% original issue
discount. The note bears an interest rate of 12% per annum and matured on December 31, 2024. The note balance, net of discount at December
31, 2024 was $105,263.

On January 2, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $526,315.
The Company received a total of $500,000 in gross proceeds after taking into account the 5% original issue discount. The note bears
an interest rate of 12% per annum and matured on December 31, 2024. The note balance, net of discount at December 31, 2024 was $526,315.

On November 3, 2023, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Promissory Note for the principal amount of $1,000,000. The
Company received a total of $950,000 in gross proceeds after taking into account the 5% original issue discount. The discount of
$50,000 will be accreted over the life of the note. The note bears an interest rate of 12% per annum and matured on December 31, 2024.
The note balance, net of discount at December 31, 2024 was $750,000.

Promissory Note — On
March 30, 2020 (the “Iss