Company: LNAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000765
Chunk: 66

Company: Lunai Bioworks Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 of whole cloth.” As a result of the Defendants’ conduct, the Company claims that it “paid approximately $25 million
to Defendants and third-parties that it would not otherwise have paid.” On April 21, 2023, defendants Wittekind, G Tech, SG &
AW Holdings, LLC, and SRI filed a demurrer with respect to some, but not all, of the Company’s claims, as well as a motion to strike.
On September 6, 2023, the court denied in part and granted in part the pending motions.

On December
4, 2023, the Defendants answered the Company’s First Amended Complaint and G Tech and SRI filed a Cross-Complaint. In the Cross-Complaint,
G Tech and SRI seek declaratory and injunctive relief related to certain agreements between G Tech, SRI, and the Company, including, inter
alia, a declaration that the Framework Agreement, effective as of November 15, 2019, the Statement of Work & License Agreement,
effective as of January 31, 2020, and the Statement of Work and License Agreement for Influenza and Coronavirus Indications, effective
as of April 18, 2021, have been terminated and the Company has no rights to any license under such agreements.

Trial
was scheduled to begin on March 3, 2025. On November 14, 2024, the court vacated the March 3, 2025 trial date and set a trial setting
conference for May 1, 2025. At the May 1, 2025 trial setting conference, the court reset the trial to begin on November 30, 2026. Discovery
remains ongoing. The Company denies the allegations in Defendants’ cross claims and intends to vigorously defend against them while
pursuing its claims against the Defendants.

On March
1, 2021, the Company’s former Chief Financial Officer, Robert Wolfe and his company, Crossfield, Inc., filed a Complaint in the
U.S. District Court for the District of Vermont against the Company, Renovaro Biosciences Denmark ApS, and certain directors and officers.
In the Complaint, Mr. Wolfe and Crossfield, Inc. asserted claims for abuse of process and malicious prosecution, alleging, inter alia,
that the Company lacked probable cause to file and prosecute an earlier action, and sought millions of dollars of compensatory damages,
as well as punitive