Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 298

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 298
---
 (i) decrease in payroll and related costs of approximately $193,000
due to a reduced time commitment by certain employees, (ii) a decrease in share-based compensation expense of approximately $17,000 as
the majority of share-based awards have been fully expensed in prior periods, (iii) a decrease in consulting fees of approximately $39,000
due to a lower time commitment by our independent contractors, and (iv) a decrease in technology license maintenance fees of $3,000.

 32 

General and Administrative Expenses

General and administrative expenses of
approximately $696,000 for the year ended December 31, 2024 consist principally of salaries and related costs for personnel and
consultants in executive and administrative functions of approximately $581,000, accounting and filing fees of approximately
$63,000, director and officer insurance of approximately $35,000, investor and public relation fees of approximately $5,000, and
other expenses of approximately $11,000. The decrease in general and administrative expenses of approximately $269,000 for the year
ended December 31, 2024 as compared to the same prior year period was primarily due to (i) decrease in payroll and related costs of
approximately $208,000 due to a reduced time commitment by certain employees, (ii) a decrease in legal fees of approximately
$49,000, (iii) a decrease in director and officer insurance of approximately $8,000, and (vi) a decrease of $4,000 in other
miscellaneous corporate expenses.

Other Income (Expense)

Master Services Agreement with Oncotelic 

On July 1, 2024, we entered into a Master Services
Agreement with Oncotelic whereby we perform advisory and related services in connection with studies and projects. During the year ended
December 31, 2024, we earned $42,000 for advisory and related services which is recorded in other income in the accompanying consolidated
statements of operations.

Gain on Sale of Holocom Preferred Stock

On July 6, 2022, we entered into a Redemption Agreement
with Holocom, as amended on June 21, 2023, pursuant to which we requested full redemption of our 2,100,000 shares of Series A Preferred
Stock of Holocom. During the year ended December 31, 2023, we received cash proceeds of $433,000 upon the redemption of 1,242,500 shares
of Series A Preferred Stock.