Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 306

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 306
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ations 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 may become inadequate because of changes in conditions, or the degree of compliance
with the policies or procedures may deteriorate.

    ITEM 9B.
    OTHER INFORMATION

Rule 10b5-1 Trading Plans

During the quarter ended December
31, 2024, no director or officer of the Company adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement,
as each term is defined in Item 408(a) of Regulation S-K.

 38 

PART III

    ITEM 10.
    DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Directors
and Executive Officers 

On June 14, 2021, by written consent of the holders
of 80% of the voting power of our issued and outstanding capital stock (“Majority Shareholders”), the Majority Shareholders
voted in favor of up to six directors to the Company’s Board of Directors (the “Board”) to serve until the first annual
meeting of stockholders to occur following the first date on which our common stock is listed or quoted on a national securities exchange
or until their successors are elected and qualified, or until their earlier death, retirement, resignation or removal. Executive officers,
subject in each case to the terms and conditions of their respective offer letter or