Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 112

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 112
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4 and 2023 pertaining to the 20% Deferral as the terms are unknown and are based on a future performance trigger.
As of December 31, 2024 and 2023, we have accrued $264,375 in accrued consulting fees provided by the Related Parties, which amounts are
included in accrued consulting in the accompanying consolidated balance sheets.

In addition, on May 7, 2021, we entered into convertible
note purchase agreements with five (5) accredited investors, including three (3) members of our Board of Directors that participated on
the same terms as other accredited investors, in the aggregate principal amount of $575,000. Of such amount, the three members of our
Board of Directors invested $225,000 in aggregate (see Note 7).

Moreover, on February 18, 2022, we entered into convertible
note purchase agreements with sixteen (16) accredited investors, including five (5) members of our Board that participated on the same
terms as other accredited investors, in the aggregate principal amount of $341,632. Of such amount, four members of our Board and one
former member of our Board invested $155,000 in aggregate (see Note 7).

On April 26, 2024, we entered into a binding term
sheet (“Binding Term Sheet”) with Oncotelic Therapeutics, Inc. (“Oncotelic”), which was unanimously approved by
our Board of Directors. Under the terms of the Binding Term Sheet, we plan to achieve certain goals of acquiring new technologies and
short-term funding so that we can establish our pipeline, pending the completion of due diligence and other criteria pursuant to the terms
of the Binding Term Sheet. Mr. Steven King, our president and CEO is a shareholder and member of the board of directors of Oncotelic with
less than 1% ownership of total shares outstanding of Oncotelic, and a paid advisor of Oncotelic (see Note 11).

     F-23 

    Mosaic ImmunoEngineering, Inc.

    Notes to Consolidated Financial Statements
    For the Years Ended December 31, 2024 and 2023 (continued)

13.        Oncotelic
Therapeutics, Inc. (“Oncotelic”)

In an effort to establish a new product pipeline,
on April 26, 2024, we entered into a Binding Term Sheet with Oncotelic pursuant to which we intend to acquire (i) certain