Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 465

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 4
Chunk 465
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Note 10 to the Financial Statements).

On October 14, 2024, the Company
issued 500,000 shares of Common Stock for consulting services valued at $275,000 (see
Note 10 to the Financial Statements).

On October 14, 2024, the Company
issued 250,000 shares of Common Stock to its Chief Executive Officer valued at $137,500 (see
Note 10 to the Financial Statements).

On August 1, 2024, the Company
issued 2,000,000 shares of Common Stock for consulting services valued at $1,400,000 (see
Note 10 to the Financial Statements).

Debt

Convertible Notes Payable —

The January 2024 Note —
On January 12, 2024, the Company entered into Subscription Agreements with an investor to issue a Convertible Promissory Note for an aggregate
principal amount of $125,000 (the “January 2024 Note”). The Company received a total of $125,000 in gross proceeds. The
January 2024 Note bears an interest rate of 12% per annum and matured on December 29, 2024. The Company is required to pay interest quarterly,
in arrears, in cash, on the first day of each quarter of each year following the issue date prior to the maturity of the January 2024
Note. The January 2024 Note is convertible either at the option of the holder or automatically upon maturity into shares of the Company’s
Common Stock at the Note Conversion Price of $3.38.

December 2023 Notes —
On December 20, 2023, the Company entered into Subscription Agreements to purchase Convertible Promissory Notes for an aggregate
principal amount of $120,000 (the “December 2023 Notes”). The Company received a total of $120,000 from the private placement
between December 2023 and January 2024. The December 2023 Notes bear an interest rate of 12% per annum and matured one year after
their respective dates of issuance (the “Maturity Date”). The Company is required to pay interest quarterly, in arrears, in
cash, on the first day of each quarter of each year following the issue date prior to the maturity of the December 2023 Notes. Notwithstanding
the immediately foregoing, at the option of the holder, interest may accrue on the December Notes on a