Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 1

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1
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 certain operational costs of the Company initially through June 2024, (iii) Oncotelic will assist the
Company in potentially raising initial funding to support the technologies of $2 million, and (iv) in the event the Company is unable
to raise the requisite funding, then the transaction may proceed to a reverse acquisition/merger, with conditions typical of such a transaction.

If we do not receive shareholder approval for the
potential transaction and receive the required waivers from the holders of the Convertible Notes by June 30, 2025, as amended, we may
not be able to enter into a definitive agreement with Oncotelic, and we may need to cease our operations altogether. On December 31, 2024,
the expiration date to enter into a possible transaction with Oncotelic was extended to June 30, 2025.

 1 

Our Corporate History and Background 

Private Mosaic, a Delaware corporation, was formed
on March 30, 2020. On July 1, 2020, we signed a Material Transfer, Evaluation, and Exclusive Option Agreement (“License Option Agreement”)
with Case Western Reserve University (“CWRU”), granting us the exclusive right to license the cowpea mosaic virus (“CPMV”)
platform technology to treat and prevent cancer and infectious diseases in humans and for veterinary use. On May 4, 2022, we entered into
the license agreement with CWRU (“License Agreement”) pursuant to our rights granted under the License Option Agreement (see
Note 6 to the accompanying audited consolidated financial statements), which was terminated on March 22, 2024 (see Note 13 to the accompanying
consolidated financial statements). On August 19, 2020, Patriot Scientific Corporation (now known as Mosaic ImmunoEngineering, Inc.) and
Private Mosaic entered into a reverse merger transaction, as further described below.

Reverse Merger

On August 19, 2020, Patriot Scientific Corporation,
a corporation organized under Delaware law on March 24, 1992 (now known as Mosaic ImmunoEngineering, Inc.) and Private Mosaic entered
into a stock purchase agreement (“Stock Purchase Agreement”), whereby one of the wholly owned subsidiaries of Patriot Scientific
Corporation (“PTSC”) merged with and into Private Mosaic, with Private Mosaic surviving as wholly owned subsidiary of PTSC
(the “Reverse Merger”). The transaction closed on August 21, 2020 (“Closing Date”) in