Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 22

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 22
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AUDITED RESTATED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 6 — INTANGIBLE ASSETS AND GOODWILL

At March 31, 2024, and June 30,
2023, definite-life intangible assets, net of accumulated amortization, consisted of patents on the Company’s products and processes
of $31,042 and $39,676, respectively. The patents are recorded at cost and amortized over twenty years from the date of application. Amortization
expense for the three and nine months ended March 31, 2024, was $779 and $7,524, respectively. Amortization expense for the three and
nine months ended March 31, 2023, was $1,580 and $4,572, respectively.

At March 31, 2024, and 2023, indefinite
life intangible assets consisted of In-Process Research and Development (“IPR&D”), which
is not amortizable until the intangible asset provides economic benefit.

At March 31, 2024, and June 30,
2023, definite and indefinite-life intangible assets consisted of the following:

| Schedule of intangible assets                        |     |          | Useful Life |   | June 30, 2023 |   |     |   |   Additions |     |   | Amortization |   |     |   | Impairment  |   |     |   | Translation Adjustment |   |     |   | March 31, 2024 |
|:-----------------------------------------------------|:----|:---------|:------------|:--|--------------:|:--|:----|:--|------------:|:----|:--|:-------------|:--|:----|:--|:------------|:--|:----|:--|-----------------------:|:--|:----|:--|---------------:|
| Definite Life Intangible Assets                      |     |          |             |   |               |   |     |   |             |     |   |              |   |     |   |             |   |     |   |                        |   |     |   |                |
| Patents                                              |     | 20 Years |             | $ |       290,936 |   |     | $ |           — |     | $ | —            |   |     | $ | —           |   |     | $ |                 (3,856