Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 5

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 5
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 Purchase Agreement”) with an accredited investor (“Investor”) for proceeds
of up to $200,000 to be used for general corporate purposes. On December 4, 2024, the Company received $200,000 under the note purchase
agreement and issued an unsecured convertible note bearing interest at a rate of 5% per annum that is due and payable upon closing a financing
of at least $10.0 million or convertible into shares of common stock of the Company, at the sole discretion of the accredited investor.
The number of shares of common stock to be issued, if converted, would be equal to the unpaid principal amount and accrued and unpaid
interest thereon divided by the closing price of our common stock on the date that is one day prior to such election. As of December 31,
2024, the Company has accrued $740 in interest that is included in other accrued expenses within the accompanying consolidated balance
sheet.

 3 

Patents and Proprietary Rights

If we successfully identify new product candidates
and license those rights, our patent strategy is to in-license and/or file patent applications on innovations and improvements to cover
a significant majority of the major pharmaceutical markets in the world. Generally, assuming all maintenance fees (annuities) are paid,
patents have a term of twenty years from the earliest priority date (other than a priority date for a provisional application). In some
instances, patent terms can be increased or decreased, depending on the laws and regulations of the country or jurisdiction that issued
the patent. Notwithstanding the foregoing, the patent position of biotechnology and pharmaceutical companies generally is highly uncertain,
involves complex legal and factual questions and has in recent years been the subject of much litigation. In addition, the laws of foreign
countries may not protect our rights to the same extent as the laws of the United States. Publications of discoveries in the scientific
literature often lag behind the actual discoveries, and patent applications in the United States and other jurisdictions are typically
not published until 18 months after filing, or in limited cases not at all. Therefore, we cannot know with certainty whether we would
be the first to make the inventions claimed in any potentially owned or licensed patents or pending patent applications, or that we were
the first to potentially file for patent protection of such inventions. Also, examinations are often lengthy and can involve numerous
challenges to the claims sought. As a result, the issuance, scope, validity, enforceability and commercial value of any patent