Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 560

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 5
Chunk 560
---
 ApS and Laksya Ventures Inc. each holding approximately $30,000 (see Note 8 to
the Financial Statements).

On February 5, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $105,263
(the “February 2024 Note”). The Company received $100,000 in gross proceeds after taking into account the 5% original issue
discount. The note bears an interest rate of 12% per annum and matured on December 31, 2024. On February 24, 2025 RS Bio assigned its
ownership rights to Rene Sindlev with all terms remaining unchanged. The note balance, net of discount at June 30, 2025 was $105,263 (see
Note 8 to the Financial Statements).

On January 2, 2024, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Secured Promissory Note for the principal amount of $526,315.
The Company received a total of $500,000 in gross proceeds after taking into account the 5% original issue discount. The note bears
an interest rate of 12% per annum and matured on December 31, 2024. On February 24, 2025 RS Bio assigned its ownership rights to Rene
Sindlev with all terms remaining unchanged. The note balance, net of discount at June 30, 2025 was $526,315 (see Note 8 to the Financial
Statements).

60

On November 3, 2023, the Company
entered into an agreement with RS Bio to issue a 5% Original Issue Discount Promissory Note for the principal amount of $1,000,000. The
Company received a total of $950,000 in gross proceeds after taking into account the 5% original issue discount. The discount of
$50,000 will be accreted over the life of the note. The note bears an interest rate of 12% per annum and matured on December 31, 2024.
On February 24, 2025 RS Bio assigned its ownership rights to Rene Sindlev with all terms remaining unchanged. The note balance, net of
discount at June 30, 2025 was $750,000 (see Note 8 to the Financial Statements).

Promissory Note — On