Company: CPMV
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001683168-25-006318
Chunk: 16

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 obligated to make any payments for these obligations and no liabilities
have been recorded for these guarantees and indemnities in the accompanying unaudited condensed consolidated balance sheets.

Escrow Shares

On August 31, 2009, we gave notice to the former shareholders
of Crossflo and Union Bank of California (the “Escrow Agent”) under Section 2.5 of the Agreement and Plan of Merger between
us and Crossflo (the “Agreement”), outlining damages incurred by us in conjunction with the acquisition of Crossflo, and seeking
the return of 5,690 shares of our common stock held by the Escrow Agent. Subsequently, former shareholders of Crossflo, representing a
majority of the escrowed shares responded in protest to our claim, delaying the release of the escrowed shares until a formal resolution
is reached. In the event we fail to prevail in our claim against the escrowed shares, we may be obligated to deposit into escrow approximately
$256,000 of cash consideration due to the decline in our average stock price over the one-year escrow period calculated in accordance
with the agreement. We have evaluated the potential for loss regarding our claim and believe that it is probable that the resolution of
this issue will not result in a material obligation to the Company, although there is no assurance of this. Accordingly, we have not recorded
any liability for this matter.

Operating Lease 

We have no lease obligations as of June 30, 2025 and
there was no rent expense for the three and six months ended June 30, 2025 and 2024. Employees are working from home offices at no cost
to the Company.

    10.
    Related Parties

During April 2021, we entered into consulting agreements
(retroactive to September 1, 2020) with Nicole Steinmetz, Ph.D., former acting Chief Scientific Officer and former member of the Board
of Directors, Jonathan Pokorski, Ph.D. (Dr. Steinmetz’s spouse), and Steve Fiering, Ph.D., each a co-founder of the company acquired
in the reverse merger and greater than 5% shareholder of the Company (“Related Parties”), for their scientific contributions
towards advancing the technology platforms. On May 2, 2023, Dr. Steinmetz resigned from the Board of Directors and her role as acting
Chief Scientific Officer under her consulting agreement.

     14 

During the three six months ended June