Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 296

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 2
Chunk 296
---
 SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business – On August 20, 2025, the Company changed its corporate name from Renovaro Inc.
to Lunai Bioworks Inc. (“Lunai”) On April 8, 2025, Lunai Bioworks Inc. acquired BioSymetrics, Inc. and its subsidiary (“BioSymetrics,
Corp.”), as a wholly owned subsidiary pursuant to a stock purchase agreement. On February 13, 2024, the Company changed its corporate
name from Renovaro Biosciences Inc. to Renovaro Inc. (“Renovaro”, and together with its subsidiaries, the “Company”,
“we” or “us”) and acquired GEDi Cube Intl Ltd and its subsidiaries (“Renovaro Cube”), as a wholly
owned subsidiary pursuant to a stock purchase agreement. In August 2023, the Company changed its corporate name from Enochian Biosciences
Inc. to Renovaro Biosciences Inc. The Company is an AI-driven platform for precision medicine, diagnostics, and biodefense. Its proprietary
technologies transform complex biomedical data into predictive insights, enabling faster discovery, greater accuracy, and strategic partnerships
across the life sciences and government sectors.

Basis of Presentation –
The Company prepares consolidated financial statements in accordance with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and follows the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).

Principles of Consolidation
– For the years ended June 30, 2025 and 2024, the consolidated financial statements include the accounts and operations of Lunai,
and its wholly owned subsidiaries. All material inter-company transactions and accounts have been eliminated in the consolidation.

Subsidiaries – Renovaro
Biosciences Inc. (“Renovaro Biosciences”), formerly Renovaro
Biopharma Inc., was incorporated on May 19, 2017 in Delaware and is a 100% owned subsidiary of Lunai. Renovaro Biosciences owns a perpetual,
fully paid-up, royalty-free, sublicensable, and sole and exclusive worldwide license to research, develop, use, sell, have sold, make,
have made, offer for sale, import and otherwise commercialize certain intellectual property in cellular therapies for