Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 553

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 553
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 Ended December 31, 2024 and 2023 (continued)

Recently Issued Accounting Standards Not Yet Adopted

As of December 31, 2024, there are no recently issued
accounting standards not yet adopted that may have a material effect on the Company’s consolidated financial statements other than
as follows:

In December 2023, the FASB issued ASU 2023-09, Income
Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance includes the requirement that public business entities, on an
annual basis, disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet
a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5% of the amount computed by multiplying
pretax income (or loss) by the applicable statutory income tax rate). It also requires that all entities disclose, on an annual basis,
the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes and the amount
of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received)
is equal to or greater than 5% of total income taxes paid (net of refunds received) and requires that all entities disclose income (or
loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense
(or benefit) from continuing operations disaggregated by federal (national), state, and foreign. Lastly, the guidance eliminates the requirement
for all entities to disclose the nature and estimate of the range of the reasonably possible change in the unrecognized tax benefits balance
in the next 12 months or make a statement that an estimate of the range cannot be made. For public business entities, the guidance is
effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have
not yet been issued or made available for issuance. The guidance should be applied on a prospective basis. Retrospective application is
permitted. The Company is currently evaluating the impact that this guidance may have on its consolidated financial statements.

3.        Fair
Value of Financial Instruments 

The Company’s financial instruments consist
of money market funds as well as an anti-dilution issuance rights liability pursuant to the License Option Agreement with Case Western
Reserve University (“CWRU”) (see Note 6). The anti