SCHEDULE: Lunai Bioworks Shareholder Claims Dismissed in Fraud Suit

A Delaware Court of Chancery dismissed fraud, conspiracy, and unjust enrichment claims against William Anderson Wittekind and Weird Science LLC, key shareholders of Lunai Bioworks Inc.

Summary

• William Anderson Wittekind, as the sole reporting person, beneficially owns 1,813,323 shares of Lunai Bioworks Inc. common stock, representing 7.8% of the class.
• This ownership includes shares held directly by Wittekind (326,576), Weird Science LLC (84,032), and various trusts where Wittekind is the sole trustee (63,393, 45,057, 5,000, 36,608 shares).
• Wittekind also shares voting and dispositive power over 1,252,657 shares, primarily owned by his spouse, Serhat Gumrukcu, which are subject to a writ of attachment.
• The percentage ownership is based on 23,178,153 shares outstanding as of October 3, 2025, reflecting a 1-for-10 reverse stock split effective September 30, 2025.
• The Delaware Court of Chancery granted a motion to dismiss all claims asserted against Weird Science, William Anderson Wittekind, and the related trusts in the case of Renovaro v. Serhat Gumrukcu et al. (C.A. No. 2024-0678-MTZ) on November 7, 2025.
• The lawsuit, filed by Renovaro Inc. (formerly DanDrit BioTech USA, Inc. and Enochian Biopharma Inc.), alleged fraudulent concealment, equitable fraud, civil conspiracy, and unjust enrichment related to a 2018 merger.
• Renovaro claimed it was defrauded into the merger due to the concealment of Serhat Gumrukcu's criminal and fraudulent activities, including a murder-for-hire plot and oil trading schemes.
• The Court dismissed the claims against Wittekind and Weird Science due to a failure to plead with particularity any affirmative act of concealment by them, distinguishing their actions from those of Serhat Gumrukcu.
• The unjust enrichment claim against Weird Science was dismissed because the Merger Agreement comprehensively governs the relationship, and its validity was not challenged by Renovaro.
• The unjust enrichment claim against Wittekind and the Trusts was dismissed due to an insufficiently direct relationship between Renovaro's impoverishment and their enrichment, as they received shares from Weird Science, not directly from Renovaro.
• Serhat Gumrukcu, who did not appear in the action, was convicted of murder-for-hire, conspiracy to commit murder-for-hire, and conspiracy to commit wire fraud on April 18, 2025.
• Renovaro had previously written down the goodwill from the 2018 merger and discovered evidence of altered, falsified, and misrepresented study results supporting drug pipelines.

Sentiment

Score: 6

Explanation: While the dismissal of claims against Wittekind and Weird Science is a positive legal outcome for those specific parties, the underlying context of the filing involves severe allegations of fraud and murder-for-hire against a key figure (Serhat Gumrukcu) associated with the company's acquired intellectual property. This ongoing controversy, coupled with the write-down of goodwill and allegations of falsified studies, creates significant reputational and operational headwinds for Lunai Bioworks Inc., tempering overall sentiment despite the specific legal victory for some shareholders.

Positives

• The Delaware Court of Chancery dismissed all fraud, conspiracy, and unjust enrichment claims against William Anderson Wittekind, Weird Science LLC, and related trusts in Renovaro v. Serhat Gumrukcu et al.
• The dismissal reduces legal exposure for these key shareholders and the entity Weird Science LLC.
• The court found no particularized allegations of affirmative concealment by Wittekind or Weird Science.

Negatives

• The underlying allegations against Serhat Gumrukcu, a key figure in the 2018 merger, involve serious criminal activities including murder-for-hire and extensive financial fraud.
• Renovaro Inc. (the Issuer's former name) had to write down goodwill from the 2018 merger and found evidence of falsified study results related to the acquired intellectual property.
• A significant portion of shares (1,243,844) owned by Serhat Gumrukcu, over which Wittekind shares power, are subject to a writ of attachment.

Risks

• Ongoing legal proceedings against Serhat Gumrukcu could further impact the reputation and perceived value of the intellectual property acquired in the 2018 merger.
• The writ of attachment on 1,243,844 shares owned by Serhat Gumrukcu creates uncertainty regarding their future disposition.
• The write-down of goodwill from the 2018 merger and allegations of falsified study results indicate potential issues with the core assets acquired by Lunai Bioworks (formerly Renovaro/Enochian).
• The company's reputation may be negatively affected by its association with Serhat Gumrukcu's criminal activities and the Hindenburg Research article.

Future Outlook

No specific forward-looking statements or guidance from Lunai Bioworks Inc. are provided. The ongoing legal issues surrounding Serhat Gumrukcu and the acquired intellectual property may continue to impact the company's future.

Industry Context

This legal development highlights the critical importance of thorough due diligence in the biotechnology and pharmaceutical sectors, especially when acquiring intellectual property from individuals with complex backgrounds. The allegations of falsified scientific data and criminal activity against a key inventor underscore the reputational and financial risks associated with such transactions. The write-down of goodwill by Renovaro Inc. (now Lunai Bioworks) suggests that the initial valuation of the acquired IP may have been significantly overstated, a common pitfall in high-stakes biotech M&A where future potential often outweighs current proven value.

Legal Proceedings

• Renovaro v. Serhat Gumrukcu, Weird Science, LLC, William Anderson Wittekind, individually, and William Anderson Wittekind as Trustee of the William Anderson Wittekind 2020 Annuity Trust, William Anderson Wittekind 2021 Annuity Trust, and Ty Mabry 2021 Annuity Trust (C.A. No. 2024-0678-MTZ, Delaware Court of Chancery): Claims of fraudulent concealment, equitable fraud, civil conspiracy, and unjust enrichment against Weird Science, Wittekind, and the Trusts were dismissed on November 7, 2025. Claims against Serhat Gumrukcu remain.
• The Estate of Gregory Davis et al. v. Serhat Daniel Gumrukcu (Civil Case No. 5:22-cv-123, United States District Court for the District of Vermont): 12,438,431 shares owned by Serhat Gumrukcu are subject to a writ of attachment to secure the plaintiffs' claim.
• California Superior Court lawsuit (filed October 21, 2022): Renovaro Inc. filed suit against Gumrukcu, Wittekind, and others for breach of contract, fraud, and related claims.
• Weird Science LLC, et al. v. Renovaro Biosciences, Inc. (C.A. No. 2023-0599-MTZ, Delaware Court of Chancery): Litigation brought by Weird Science and Wittekind against Renovaro.
• Weird Science LLC, et al. v. Ren Sindlev, et al. (Case No. 2:24-cv-00645, U.S. District Court for the Central District of California): Putative derivative action brought by Weird Science and Wittekind against Renovaro.
• Serhat Gumrukcu was convicted on April 18, 2025, of murder-for-hire, conspiracy to commit murder-for-hire, and conspiracy to commit wire fraud.

Related Party Transactions

• The 2018 merger between Renovaro (then DanDrit BioTech USA, Inc.) and Enochian Biopharma Inc. (holding Gumrukcu's IP in Weird Science LLC) involved significant related party dealings. Gumrukcu was the inventor and a major stakeholder in Weird Science, and Wittekind is Gumrukcu's spouse and a manager of Weird Science.

Stakeholder Impact

• Shareholders (William Anderson Wittekind, Weird Science LLC, Trusts): Positive impact due to the dismissal of fraud and conspiracy claims against them, reducing legal liabilities.
• Shareholders (Serhat Gumrukcu): Negative impact due to ongoing legal proceedings, conviction for serious crimes, and a writ of attachment on a significant portion of his shares.
• Lunai Bioworks Inc. (Issuer): Mixed impact. While the dismissal of claims against some shareholders might reduce direct legal entanglement, the underlying issues of alleged fraud, falsified IP, and the criminal conviction of a key inventor continue to pose reputational and operational challenges. The write-down of goodwill indicates a financial impact.
• Investors: Increased clarity regarding the legal standing of certain major shareholders, but continued uncertainty and negative sentiment surrounding the company's foundational intellectual property and its origins.

Next Steps

• Serhat Gumrukcu has not responded to the Complaint in the Delaware Court of Chancery, and if Renovaro prevails against him, it would be entitled to an appropriate remedy.
• The writ of attachment on Serhat Gumrukcu's shares (1,243,844 shares) remains in effect, securing claims in The Estate of Gregory Davis et al. v. Serhat Daniel Gumrukcu.
• Renovaro Inc. previously filed suit in California Superior Court against Gumrukcu, Wittekind, and others for breach of contract, fraud, and related claims, which may continue.
• Weird Science LLC and William Anderson Wittekind have brought other litigation against Renovaro Inc. in their capacity as stockholders, including an action pending before the Delaware Court of Chancery and a putative derivative action in the U.S. District Court for the Central District of California.

Key Dates

Recommendation

The dismissal of fraud claims against William Anderson Wittekind and Weird Science LLC is a positive development for these specific shareholders, reducing their direct legal exposure. However, the broader context of the filing reveals severe underlying issues for Lunai Bioworks Inc., including the criminal conviction of a key inventor (Serhat Gumrukcu) for murder-for-hire and fraud, allegations of falsified scientific data, and a significant goodwill write-down related to the acquired intellectual property. These factors create substantial reputational and operational risks for the company. Given the mixed signals—a legal win for some shareholders but persistent fundamental concerns about the company's core assets and integrity—a 'hold' recommendation is appropriate. Investors should monitor the ongoing litigation against Gumrukcu and any further disclosures regarding the validity and performance of the company's intellectual property before making further investment decisions.

Keywords

Lunai Bioworks, SEC filing, Schedule 13D, William Anderson Wittekind, Weird Science LLC, Serhat Gumrukcu, Delaware Court of Chancery, fraud dismissal, merger fraud, beneficial ownership, reverse stock split, biotech litigation, corporate governance, shareholder dispute, Renovaro Inc., Enochian Biopharma