Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 199

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 199
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 Stock using a cash basis of accounting rather than an accrual method as we were unable to assert that collection
of amounts due under the redemption agreement was probable, regardless of the terms of the Redemption Agreement. Any amounts not paid
within fifteen (15) days of its respective due date accrued interest at a rate of 8% per annum until fully paid and retroactively adjusted
to 12% per annum from its original due date for amounts not paid within 90 days of its original due date.

During the year ended December 31, 2023, we received
aggregate proceeds of $433,000 in exchange for 1,242,500 shares of Series A Preferred Stock, respectively. As of December 31, 2023, we
redeemed in aggregate, 2,100,000 shares of Series A Preferred Stock, in exchange for aggregate net proceeds received by us of $776,000.
As of December 31, 2023, Holocom had no further obligations to us under the Redemption Agreement or any other arrangement.

5.        Accrued
Expenses and Other Current Liabilities

Accrued expenses and other current liabilities as
of December 31, 2024 and 2023 consisted of the following:

    Schedule of accrued expenses and other current
    liabilities 

    December 31, 2024  
    December 31, 2023 
  
    Crossflo acquisition liability 
    $177,244  
    $177,244 
  
    Accrued patent expenses 
     430,873  
     430,873 
  
    Other accrued expenses 
     38,733  
     33,646 
  
    Total accrued expenses and other current liabilities 
    $646,850  
    $641,763 

In September 2008, PTSC acquired Patriot Data Solutions
Group, Inc. formerly known as Crossflo Systems, Inc. (“PDSG”). In connection with the acquisition of Crossflo by PTSC, we
have accrued $177,244 that could be payable to Crossflo investors.

     F-15 

    Mosaic ImmunoEngineering, Inc.

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

6.        License
Agreements

License Option and Agreement with CWRU

On July 1, 2020, we signed a License Option Agreement