Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 777

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 777
---
 “Agreement”), outlining damages incurred by us in conjunction with the acquisition of Crossflo, and seeking
the return of 5,690 shares of our common stock held by the Escrow Agent. Subsequently, former shareholders of Crossflo, representing a
majority of the escrowed shares responded in protest to our claim, delaying the release of the escrowed shares until a formal resolution
is reached. In the event we fail to prevail in our claim against the escrowed shares, we may be obligated to deposit into escrow
approximately $256,000 of cash consideration due to the decline in our average stock price over the one-year escrow period calculated
in accordance with Section 2.5 of the Agreement.  We have evaluated the potential for loss regarding our claim and believe that it
is probable that the resolution of this issue will not result in a material obligation to the Company, although there is no assurance
of this. Accordingly, we have not recorded any liability for this matter.

Operating Lease 

We have no lease obligations as of December 31, 2024
and there was no rent expense for the years ended December 31, 2024 and 2023. Employees are working from home offices at no cost to the
Company.

     F-22 

    Mosaic ImmunoEngineering, Inc.

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

12.        Related
Parties

During April 2021, we entered into consulting agreements
(retroactive to September 1, 2020) with Nicole Steinmetz, Ph.D., former acting Chief Scientific Officer and former member of the Board
of Directors, Jonathan Pokorski, Ph.D. (Dr. Steinmetz’s spouse), and Steve Fiering, Ph.D., each a co-founder of the company acquired
in the reverse merger and greater than 5% shareholder of the Company (“Related Parties”), for their scientific contributions
towards advancing the technology platforms. On May 2, 2023, Dr. Steinmetz resigned from the Board of Directors and her role as acting
Chief Scientific Officer under her consulting agreement.

During the year ended December 31, 2024, we did not
incur any related party consulting expenses. During the year ended December 31, 2023, we incurred related party consulting expenses for
Dr. Steinmetz, Dr.