Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 342

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 342
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 February 2007, we invested an aggregate of $370,000
in Holocom in exchange for 2,100,000 shares of Series A Preferred Stock, which represented an approximate 46% ownership interest in Holocom,
on an as-converted basis. Pursuant to the articles of incorporation of Holocom, the Series A Preferred Stock is convertible at our option
into shares of Holocom’s common stock on a one-to-one basis or is redeemable at any time after May 31, 2007 at a redemption price
equal to $0.40 per share or $840,000 in aggregate, provided Holocom has sufficient funding to redeem our shares of Series A Preferred
Stock.

     F-14 

    Mosaic ImmunoEngineering, Inc.

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

On July 6, 2023, we entered into the Redemption Agreement
with Holocom, pursuant to which we requested full redemption of our Series A Preferred Stock. Pursuant to the Redemption Agreement, we
received cash proceeds in the amount of $336,000
upon the redemption of 840,000
shares of Series A Preferred Stock in July 2023 with the remaining shares of Series A Preferred Stock were to be redeemed over a period
of thirty (30) months beginning August 1, 2023 based on the following redemption schedule:

    Schedule of series A preferred stock to be redeemed

    Period

    Shares of Series A
    Preferred Stock to be
    Redeemed each Month

    Monthly Redemption
    Proceeds to the Company
  
    Months 1-12
     
    35,000
     
    $14,000
  
    Months 13-24
     
    43,750
     
    $17,500
  
    Months 25-30
     
    52,500
     
    $21,000

We recognized the initial and monthly redemption of
shares of Series A Preferred 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