Company: LNAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000765
Chunk: 9

Company: Lunai Bioworks Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 9
---

     —  
     —  
     —  
     —  
     4,623,214  
     4,623,214 

    March 31, 2025 
     —  
    $—  
     162,392,907  
    $16,241  
    $471,325,333  
    $(383,730,334) 
    $775,611  
    $88,386,851 

See accompanying notes to the unaudited condensed consolidated
financial statements.

6

RENOVARO INC. AND SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)

For the Nine Months Ended

March 31,

2025
 
2024

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss
 
$
(51,275,253
)
 
$
(72,694,219
)

ADJUSTMENTS TO RECONCILE NET LOSS TO NET CASH USED IN OPERATING ACTIVITIES:

Depreciation and amortization

96,469

90,727

Loss on extinguishment of debt

—

120,018

Change in value of contingent consideration

(10,990,000
)

7,289,156

Change in value of equity securities

(210,281
)

—

Stock-based compensation expense

2,415,478

3,844,658

Restricted shares for services rendered (including $153,444 of compensation expense)

1,946,844

4,570,000

Goodwill impairment

47,614,729

—

Intangible asset impairment

—

42,611,000

Amortization of discount of notes payable

32,024

494,809

Changes in assets and liabilities:

Other receivables

986,870

—

Prepaid expenses/deposits

744,557

798,741

Accounts payable

2,277,375

2,110,232

Accrued expenses

379,468

2,194,293

Other current liabilities

(68,437
)

—

Operating leases, net

(13,354
)

12,936

NET CASH USED IN OPERATING ACTIVITIES

(6,063,511
)

(8,557,649
)

CASH FLOWS FROM INVESTING ACTIVITIES:

Notes receivable prior to acquisition