Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 907

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 907
---
 ACTIVITIES 

    Contingent
    Shares issued pursuant to Acquisition Agreement 
    $—  
    $— 
  
    Cancellation
    of restricted stock awards 
    $83  
    $— 
  
    Finance
    agreement entered into in exchange for prepaid assets 
    $1,018,930  
    $906,834 
  
    Conversion
    of note payable for issuance of preferred stock 
    $—  
    $2,000,001 
  
    Note
    payable settled through non-cash exercise of warrants 
    $—  
    $2,000,000 
  
    Debt
    discount related to notes payable 
    $24,954  
    $339,342 
  
    Common
    shares issued upon acquisition 
    $6,058,500  
    $136,001,631 
  
    Contingent
    consideration issued upon acquisition 
    $—  
    $20,557,500 
  
    Common
    shares issued upon settlement of debt 
    $—  
    $9,582,912 
  
    Earn
    out shares issued in settlement of contingent liability 
    $—  
    $11,295,683 
  
    Options
    issued in settlement of debt 
    $—  
    $489,000 
  
    Settlement
    of notes payable 
    $—  
    $418,503 

The accompanying notes are an integral part of these
consolidated financial statements.

F-8

LUNAI BIOWORKS INC. FKA: RENOVARO INC. AND 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