Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 491

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 491
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 Company recorded $1,446 and $15,842, respectively, in accretion to redemption value on
the Convertible Notes. The Convertible Notes have been accreted to their full Redemption Value as of March 31, 2024.

8.        Note Payable

On November 18, 2024, we entered into an unsecured
convertible promissory note (“Note Purchase Agreement”) with an accredited investor (“Investor”) for proceeds
of up to $200,000 to be used for general corporate purposes. On December 4, 2024, the Company received $200,000 under the note purchase
agreement and issued an unsecured convertible note bearing interest at a rate of 5% per annum that is due and payable upon closing a financing
of at least $10.0 million or convertible into shares of common stock of the Company, at the sole discretion of the accredited investor.
The number of shares of common stock to be issued, if converted, would be equal to the unpaid principal amount and accrued and unpaid
interest thereon divided by the closing price of our common stock on the date that is one day prior to such election. As of December 31,
2024, the Company has accrued $740 in interest that is included in other accrued expenses within the accompanying consolidated balance
sheet.

     F-18 

    Mosaic ImmunoEngineering, Inc.

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

9.        Stockholders’
Equity (Deficit) and Share-Based Compensation

Stockholders’ Equity (Deficit)

The Company’s authorized capital consists of
100,000,000 shares of common stock, par value $0.00001 per share, and 5,000,000 shares of preferred stock, par value $0.00001 per share
(“Preferred Stock”). We designated 630,000 shares of Series A Convertible Voting Preferred Stock (“Series A Preferred”)
and designated and issued 70,000 shares of Series B Convertible Voting Preferred Stock (“Series B Preferred”). As of December
31, 2024 and 2023, there are no shares of Series A Preferred outstanding and 70,000 shares of Series B Preferred outstanding.

Series B Preferred

On August 21, 2020, the Company issued 70,000 shares
of Series B Preferred (classified as