Lunai Bioworks Inc.

Lunai Bioworks Inc. (LNAI) reported a net loss of $1.8M for the period ending December 31, 2025, in its Q2 2026 10-Q filing dated February 17, 2026. No revenue was disclosed. The loss from operations was $1.8M, primarily driven by general and administrative expenses of $1.8M, offset by significant non-operating items including a $47.6M goodwill impairment, $832K long-lived asset impairment, $12.0M gain on bankruptcy of subsidiary, and $2.3M loss on extinguishment of debt. Total operating expenses were reported as $1.8M despite impairment charges listed separately. Basic and diluted net loss per common share was $0, with 23.5M weighted average shares outstanding. Balance sheet shows total assets of $6.7M, including $492K cash and $6.0M goodwill, against total liabilities of $20.2M, resulting in a $13.5M stockholders' deficit. Accounts payable stood at $12.3M and accrued expenses at $4.9M. Cash flows reflected net cash used in operating activities of $2.4M, offset by $543K from investing (sale of equity securities) and $2.3M from financing (notes payable and private placement), yielding a $399K net increase in cash to $492K. The company faces liquidity challenges with high current liabilities of $20.0M versus $514K current assets. Prior period shares outstanding were 17.7M at June 30, 2025, indicating dilution. No forward guidance provided.

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