Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 576

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 576
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 commercializing immunotherapies for the treatment of cancer. We have historically advanced early-stage product
candidates and we are pursuing new product candidates and platforms to build a new pipeline based on a deep understanding of immunotherapies.

Summary of Significant Events

Private Mosaic, a Delaware corporation, was formed
on March 30, 2020. On July 1, 2020, we signed a Material Transfer, Evaluation, and Exclusive Option Agreement (“License Option Agreement”)
with Case Western Reserve University (“CWRU”), granting us the exclusive right to license the cowpea mosaic virus (“CPMV”)
platform technology to treat and prevent cancer and infectious diseases in humans and for veterinary use. On May 4, 2022, we entered into
the license agreement with CWRU (“License Agreement”) pursuant to our rights granted under the License Option Agreement (see
Note 6 to the accompanying audited consolidated financial statements). On March 22, 2024, we received a notice of termination from CWRU
(see Note 6 to the accompanying consolidated financial statements). On August 19, 2020, Patriot Scientific Corporation (now known as Mosaic
ImmunoEngineering, Inc.) and Private Mosaic entered into a reverse merger transaction, as further described below.

Reverse Merger

On August 19, 2020, Patriot Scientific Corporation,
a corporation organized under Delaware law on March 24, 1992 (now known as Mosaic ImmunoEngineering, Inc.) and Private Mosaic entered
into a stock purchase agreement (“Stock Purchase Agreement”), whereby one of the wholly owned subsidiaries of Patriot Scientific
Corporation (“PTSC”) merged with and into Private Mosaic, with Private Mosaic surviving as wholly owned subsidiary of PTSC
(the “Reverse Merger”). The transaction closed on August 21, 2020 (“Closing Date”) in accordance with the terms
of the Stock Purchase Agreement.

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On the Closing Date, Patriot Scientific Corporation
acquired 100% of the issued and outstanding common stock of Private Mosaic, representing 630,000 shares of its Class A common stock (“Class
A Stock”) and 70,000 shares of its Class B common stock (“Class B Stock”) (collectively referred to as “Target
Common Stock”). In exchange for the Target Common Stock, the holders of the Class A Stock received 630,000 shares of the Company’s
Series A Convertible Voting Preferred Stock (“Series A Preferred”) and