Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 92

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 92
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 Human Immunodeficiency Virus (HIV) infections. As a result of our acquisition of GEDi Cube Intl on February 13, 2024, we have shifted the Company’s primary focus and resources to the development of the GEDi Cube Intl technologies.

To date, our operations have been funded by sales of our securities and debt financing. We have never generated any sales revenue and we expect this to continue until our products are approved for marketing in the United States and/or Europe. Even if we are successful in having our products approved for sale in the United States and/or Europe, we cannot guarantee that a market for the products will develop. We may never be profitable.

Recent Developments

On June 14, 2024, the Company closed a private placement 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, with certain investors. The Warrants are exercisable for five
years from the date of issuance and have an exercise price of $1.4726 and $1.4765 per share, payable in cash.

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The Private Placement was completed
pursuant to Regulation S promulgated under the Securities Act of 1933, as amended (“Regulation S”). In connection with the
Private Placement, each Investor executed a subscription agreement (each, a “Subscription Agreement”) in the form of Exhibit
10.1 attached hereto.

In the Private Placement, the Company sold 3,939,299 Units at a price per
Unit equal to $1.4726 to a certain investor who settled debt and paid in cash an aggregate amount of $5,801,012 in consideration for the
Units. As of June 30, 2024, the Company issued 2,325,869 shares of Common Stock, $0.0001 par value, at $1.4726 per share for aggregate proceeds to the Company of $3,425,075 in cash and settlement of debt.

Subsequently related to the
June 14, 2024, Private Placement, the Company sold 1,423,456 Units at a price per Unit equal to $1.4726 to a certain investor who paid
in cash and settled debt an aggregate amount of $2,096,181 in consideration for the Units.