Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 377

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 377
---
 control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). Under the
supervision and with the participation of our management, including our President and Chief Executive Officer and our Chief Financial
Officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, 2024 based
on the criteria set forth in Internal Control — Integrated Framework – 2013 update issued by the Committee of
Sponsoring Organizations of the Treadway Commission. Based on such evaluation, our management concluded that our internal control over
financial reporting was effective as of December 31, 2024.

This Report does not include an attestation report
of our independent registered public accounting firm regarding internal control over financial reporting. Management’s report was
not subject to attestation by our independent registered public accounting firm pursuant to the rules of the SEC that permit us to provide
only management’s report in this Report.

Changes in Internal Controls over Financial Reporting

Management has determined that, as of December 31,
2024, there were no significant changes in our internal control over financial reporting during the fourth quarter of the year ended December
31, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 37 

Inherent Limitations on Internal Control

A control system, no matter how well conceived and
operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the benefits
of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls
can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations
include the realities that judgments in decision making can be faulty, and that breakdowns can occur because of simple errors. Additionally,
controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of
the control. The design of any system of controls is also based in part upon certain assumptions about the likelihood of future events,
and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Because
of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

In addition, projections of any evaluation of effectiveness
to future periods are subject to risks that controls