NOTE 5 — INTANGIBLE ASSETS AND GOODWILL

At June 30, 2026, definite-life intangible assets, net of accumulated amortization, consisted of intellectual property, patents, software platform and trademarks on the Company’s products and processes of $1,819,394, 0 zero, $107,896 and $3,090 respectively. At June 30, 2025, definite-life intangible assets, net of accumulated amortization, consisted of patents, software platform and trademarks on the Company’s products and processes of $14,994, $143,000 and $8,000. The patents are recorded at cost and amortized over twenty years from the date of application. Amortization expense for the years ended June 30, 2026 and 2025 was $63,279 and $9,902, respectively.

At June 30, 2026 and 2025, indefinite life intangible assets consisted of goodwill.

At June 30, 2026 and 2025, definite-life and indefinite-life intangible assets consisted of the following:

Expected future amortization expense is as follows:

On February 13, 2024, the Company acquired Renovaro Cube as a wholly owned subsidiary pursuant to a stock purchase agreement. As part of the acquisition of Renovaro Cube, the Company acquired goodwill valued at $159,464,039.

On April 8, 2025, the Company acquired BioSymetrics, Inc. as a wholly owned subsidiary pursuant to a stock purchase agreement. As part of the acquisition of BioSymetrics, Inc., the Company acquired goodwill valued at $5,963,000, software valued at $143,000 and Trademark valued at $8,000.

On May 1, 2026, the Company, through its wholly owned subsidiary Lunai Bioworks IP, Inc., acquired Neurobridge IP Holdings Incorporated, which held intellectual property relating to the N2B intranasal drug delivery platform and a related Alzheimer’s disease compound, in exchange for eight shares of the Company’s Series B Convertible Preferred Stock. The acquisition-date fair value of the Series B Convertible Preferred Stock issued as consideration was $1,840,000. The acquisition cost was allocated to the acquired intellectual property based on the relative fair values of the individual acquired assets (see Note 12). The acquired intellectual property consists of four asset units, all of which were capitalized as finite-lived intangible assets. Units A and B, with allocated carrying amounts of $263,689 and $1,060,579, respectively, were available for their intended use as of the acquisition date and are being amortized on a straight-line basis over estimated useful lives of 15 years and 10 years, respectively. Units C and D, with allocated carrying amounts of $399,277 and $116,455, respectively, were not yet available for their intended use as of June 30, 2026 and, accordingly, amortization has not commenced. Amortization expense related to the acquired intellectual property was approximately $20,606 for the year ended June 30, 2026.

Impairment

Following the fourth quarter of each year, management performs its annual test of impairment of intangible assets by performing an assessment and determines if it is more likely than not that the fair value of the asset is greater than or equal to the carrying value of the asset.

During the quarter ended September 30, 2024, the results of the assessment indicated that the carrying value of the RENC reporting unit exceeded its fair value, due to the decline in the estimated fair value of the reporting unit based on the Company’s market capitalization. Management concluded the significant driver for the change in the economic benefits was due to the Company’s continued inability to raise capital for the further development of the technologies within this reporting unit. Therefore, an impairment adjustment of $47,614,729 was recorded for the period ended September 30, 2024.

During the quarter ended June 30, 2025, the results of the assessment indicated that the carrying value of the RENC reporting unit exceeded its fair value, due to the decline in the estimated fair value of the reporting unit based on the Company’s market capitalization. Management concluded the significant driver for the change in the economic benefits was due to the Company’s continued inability to raise capital for the further development of the technologies within this reporting unit. Therefore, an impairment adjustment of $122,804,700 was recorded for the period ended June 30, 2025.

During the year ended June 30, 2026 no impairment adjustment was recorded.