Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 139

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 139
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 Agreements with an investor to issue a Convertible Promissory Note for an aggregate principal amount of $125,000 (the
“January 2024 Note II”, and collectively with the January 2024 Note I, the “January 2024 Notes”). The Company
received a total of $125,000 in gross proceeds. The January 2024 Note II bears an interest rate of 12% per annum and shall mature
on December 29, 2024. The Company is required to pay interest quarterly, in arrears, in cash, on the first day of each quarter of each
year following the issue date prior to the maturity of the January 2024 Note II. The January 2024 Note II is convertible either at the
option of the holder or automatically upon maturity into shares of the Company’s Common Stock at the Note Conversion Price of $3.38.

F-19

On June 14, 2024, the Company sold
325,508 of the Company’s Units, each such Unit consisting of (i) one share of the Company’s common stock, $0.0001 par value
per share and (ii) one common stock purchase warrant to purchase one-tenth of a share of Common Stock, to the holder of the January 2024
Note I in consideration for the total $483,460 in principal amount and interest accrued under the January 2024 Note I. The warrants are
exercisable for five years from the date of issuance and have an exercise price of $1.4726 per share, payable in cash. The January 2024
Notes principal balance at June 30, 2024, is $125,000.

December 2023 Notes —Between December 1, 2023, and December 29, 2023, the Company entered into Subscription Agreements with two investors to purchase
Convertible Promissory Notes for an aggregate principal amount of $560,000 (the “December Notes”). The Company received a
total of $560,000 in gross proceeds, consisting of $440,000 and $100,000 from the private placement prior to the end of the quarter ending
December 31, 2023, and $20,000 received in January 2024. The December Notes bear an interest rate of 12% per annum and shall mature
one year after their respective dates of issuance (the “Maturity Date”). The Company is required to pay interest quarterly,
in arre