Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000254
Chunk: 22

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 22
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concerted, deliberate scheme to alter, falsify,
and misrepresent to the Company the results of multiple studies supporting its Hepatitis B and SARS-CoV-2/influenza pipelines.”
Specifically, “Defendants manipulated negative results to reflect positive outcomes from various studies, and even fabricated studies
out of whole cloth.” As a result of the Defendants’ conduct, the Company claims that it “paid approximately $25 million
to Defendants and third-parties that it would not otherwise have paid.” On April 21, 2023, defendants Wittekind, G Tech, SG &
AW Holdings, LLC, and SRI filed a demurrer with respect to some, but not all, of the Company’s claims, as well as a motion to strike.
On September 6, 2023, the court denied in part and granted in part the pending motions. On September 7, 2023, the court entered a case
management order setting the final status conference, trial, and other intervening deadlines.

On December
4, 2023, the Defendants answered the Company’s First Amended Complaint and G Tech and SRI filed a Cross-Complaint. In the Cross-Complaint,
G Tech and SRI seek declaratory and injunctive relief related to certain agreements between G Tech, SRI, and the Company, including, inter alia, a declaration that the Framework Agreement, effective as of November 15, 2019, the Statement of Work & License Agreement,
effective as of January 31, 2020, and the Statement of Work and License Agreement for Influenza and Coronavirus Indications, effective
as of April 18, 2021, have been terminated and the Company has no rights to any license under such agreements. Trial is currently scheduled
to begin on March 3, 2025. The Company denies these allegations and intends to vigorously defend against the cross claims while pursuing
its claims against the Defendants.

On March 1, 2021, the Company’s
former Chief Financial Officer, Robert Wolfe, and his company, Crossfield, Inc., filed a Complaint in the U.S. District Court for the
District of Vermont against the Company, Renovaro Biosciences Denmark ApS, and certain directors and officers. In the Complaint, Mr. Wolfe
and Crossfield, Inc. asserted claims for abuse of process and malicious prosecution, alleging, inter alia, that the Company lacked probable
cause to file and prosecute