Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 95

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 95
---
 segment profit or loss in assessing segment performance and
deciding how to allocate resources. The guidance also requires that a public entity that has a single reportable segment provide all the
disclosures required by the guidance and all existing segment disclosures in ASC 280, Segment Reporting. The guidance is effective for
fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption
is permitted. A public entity should apply the amendments in the guidance retrospectively to all prior periods presented in the financial
statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant
segment expense categories identified and disclosed in the period of adoption. The Company adopted the guidance as of January 1, 2024
with no material impact on the Company’s consolidated financial statements upon adoption, as further described in Note 14.

     F-12 

    Mosaic ImmunoEngineering, Inc.

    Notes to Consolidated Financial Statements
    For the Years Ended December 31, 2024 and 2023 (continued)

Recently Issued Accounting Standards Not Yet Adopted

As of December 31, 2024, there are no recently issued
accounting standards not yet adopted that may have a material effect on the Company’s consolidated financial statements other than
as follows:

In December 2023, the FASB issued ASU 2023-09, Income
Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance includes the requirement that public business entities, on an
annual basis, disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet
a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5% of the amount computed by multiplying
pretax income (or loss) by the applicable statutory income tax rate). It also requires that all entities disclose, on an annual basis,
the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes and the amount
of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received)
is equal to or greater than 5% of total income taxes paid (net of refunds received) and requires that all entities disclose income (or
loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign