Company: CPMV
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001683168-25-006318
Chunk: 17

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 30, 2025 and
2024, we did not incur any related party consulting expenses. Pursuant to the consulting agreements, Dr. Steinmetz, Dr. Pokorski, and
Dr. Fiering are initially paid 15% of their monthly amounts up and until the Company is able to raise at least $4 million in new funding.
In exchange for the deferral of consulting payments, the Company agreed to grant each of the Related Parties RSU’s with a fair market
value equal to 20% of their deferred cash compensation as of the closing date of the financing (the “20% Deferral”). The number
of RSU’s to be granted will be calculated based on the closing price of the Company’s common stock on the closing date of
the financing and will vest one-year from the date of grant. There was no share-based compensation expense recorded for the three and
six months ended June 30, 2025 and 2024 pertaining to the 20% Deferral as the terms are unknown and are based on a future performance
trigger. As of June 30, 2025 and December 31, 2024, we have accrued $264,375 in accrued consulting fees provided by the Related Parties,
which amounts are included in accrued consulting in the accompanying unaudited condensed consolidated balance sheets.

In addition, on May 7, 2021, we entered into convertible
note purchase agreements with five (5) accredited investors, including three (3) members of our Board of Directors that participated on
the same terms as other accredited investors, in the aggregate principal amount of $575,000. Of such amount, two current members of our
Board and one former member of our Board invested $225,000 in aggregate (see Note 6).

Moreover, on February 18, 2022, we entered into convertible
note purchase agreements with sixteen (16) accredited investors, including five (5) members of our Board that participated on the same
terms as other accredited investors, in the aggregate principal amount of $341,632. Of such amount, three current members of our Board
and two former members of our Board invested $155,000 in aggregate (see Note 6).

On April 26, 2024, we entered into a binding term
sheet (“Binding Term Sheet”) with Oncotelic Therapeutics, Inc. (“Oncotelic”), which was unanimously approved by
our Board of Directors. Under the terms of the