Company: CPMV
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001683168-25-006318
Chunk: 8

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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    Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

The carrying amount of certain of the Company’s
financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities, approximate their estimated fair
values primarily due to the short-term nature of the instruments or based on information obtained from market sources and management estimates.
Convertible notes were initially recorded at their amortized cost and were accreted to their redemption value over the estimated conversion
period using the effective interest method (Note 6).

    4.
    Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted
of the following:

    Schedule of accrued expenses and other current liabilities 

    June 30, 2025  
    December 31, 2024 
  
    Crossflo acquisition liability 
    $177,244  
    $177,244 
  
    Accrued patent expenses 
     430,873  
     430,873 
  
    Other accrued expenses 
     28,515  
     38,733 
  
    Total accrued expenses and other current liabilities 
    $636,632  
    $646,850 

In September 2008, we acquired Patriot Data Solutions
Group, Inc. formerly known as Crossflo Systems, Inc. (“PDSG”). In connection with the acquisition of Crossflo, we have accrued
$177,244 that could be payable to Crossflo investors.

     9 

    5.
    License Agreements

License Option Agreement and License Agreement
with CWRU

On July 1, 2020, we signed a License Option Agreement
with CWRU, granting the Company the exclusive right to license certain technology covering an immunotherapy platform technology to treat
and prevent cancer in humans and for veterinary use. On May 4, 2022, we exercised our rights under the License Option Agreement and entered
into a license agreement with CWRU (“License Agreement”). On March 22, 2024, we received a notice of termination from CWRU
to terminate the License Agreement effective on the notice date. As of June 30, 2025 and December 31, 2024, we have accrued $406,973 in
accrued patent fees under the License Agreement.

License Agreements with University of California
San Diego (“