Company: CPMV
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001683168-25-006318
Chunk: 22

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 primarily related to salaries and related costs for personnel in research and development
functions. The decrease in research and development expenses of approximately $45,000 for the three months ended June 30, 2025 as compared
to the same prior year period was primarily due to a decrease in payroll and related costs due to a reduced time commitment by certain
employees.

General and Administrative Expenses

General and administrative expenses of approximately
$133,000 for the three months ended June 30, 2025 consist principally of salaries and related costs for personnel and consultants in executive
and administrative functions of approximately $112,000, accounting and filing fees of approximately $11,000, director and officer insurance
of approximately $8,000, and other expenses of approximately $2,000. The decrease in general and administrative expenses of approximately
$81,000 for the three months ended June 30, 2025 as compared to the same prior year period was primarily due to (i) a decrease in payroll
and related expenses of approximately $58,000 due to a reduced time commitment by certain employees, (ii) a decrease in accounting and
filing fees of approximately $17,000 due to timing of services provided and (iii) a decrease in other expenses of approximately $6,000.

Other Income (Expense)

Interest Expense and Accretion to Redemption Value
on Convertible Notes

Interest expense of approximately $21,000 and $19,000
for the three months ended June 30, 2025 and 2024, respectively, represents interest expense on convertible notes and loan payables.

 18 

Six Months Ended June 30, 2025 and 2024:

Research and Development Expenses

Research and development expenses of approximately
$32,000 for the six months ended June 30, 2025 are primarily related to salaries and related costs for personnel in research and development
functions. The decrease in research and development expenses of approximately $96,000 for the six months ended June 30, 2025 as compared
to the same prior year period was primarily due to a decrease in payroll and related costs due to a reduced time commitment by certain
employees.

General and Administrative Expenses

General and administrative expenses of approximately
$292,000 for the six months ended June 30, 2025 consist principally of salaries and related costs for personnel and consultants in executive
and administrative functions of approximately $221,000, accounting and filing fees of approximately $48,000, director and officer