Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 194

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 194
---
 acquisition 
    $—  
    $20,557,500 
  
    Common
    shares issued upon settlement of debt 
    $—  
    $9,582,912 
  
    Earn
    out shares issued in settlement of contingent liability 
    $—  
    $11,295,683 
  
    Options
    issued in settlement of debt 
    $—  
    $489,000 
  
    Settlement
    of notes payable 
    $—  
    $418,503 

The accompanying notes are an integral part of these
consolidated financial statements.

F-8

LUNAI BIOWORKS INC. FKA: RENOVARO INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business – On August 20, 2025, the Company changed its corporate name from Renovaro Inc.
to Lunai Bioworks Inc. (“Lunai”) On April 8, 2025, Lunai Bioworks Inc. acquired BioSymetrics, Inc. and its subsidiary (“BioSymetrics,
Corp.”), as a wholly owned subsidiary pursuant to a stock purchase agreement. On February 13, 2024, the Company changed its corporate
name from Renovaro Biosciences Inc. to Renovaro Inc. (“Renovaro”, and together with its subsidiaries, the “Company”,
“we” or “us”) and acquired GEDi Cube Intl Ltd and its subsidiaries (“Renovaro Cube”), as a wholly
owned subsidiary pursuant to a stock purchase agreement. In August 2023, the Company changed its corporate name from Enochian Biosciences
Inc. to Renovaro Biosciences Inc. The Company is an AI-driven platform for precision medicine, diagnostics, and biodefense. Its proprietary
technologies transform complex biomedical data into predictive insights, enabling faster discovery, greater accuracy, and strategic partnerships
across the life sciences and government sectors.

Basis of Presentation –
The Company prepares consolidated financial statements in accordance with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and follows the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).

Principles of Consolidation
– For the years ended June 30, 2025 and 2024, the