SEC Contract Filing

Filing Date: 2020-12-01

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>5
<FILENAME>mosaic_ex1001.htm
<DESCRIPTION>PRESS RELEASE
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<P STYLE="margin: 0">Exhibit 10.1</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;<IMG SRC="image_002.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Patriot
Scientific Corporation Announces Name Change to &ldquo;Mosaic ImmunoEngineering Inc.&rdquo;, </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Stock
Symbol Change and Reverse Stock Split</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Novato,
Calif, December 1, 2020 &ndash; Patriot Scientific Corporation (&quot;Patriot&quot;) (OTC PINK: PTSC) announced today that it has
changed its name to &ldquo;Mosaic ImmunoEngineering Inc.&rdquo;, (the &ldquo;Company&rdquo; or &ldquo;Mosaic&rdquo;) effective
immediately. In addition, the Company will change its stock symbol on the OTC Market to &ldquo;CPMV&rdquo; as described below and
will effect a reverse stock split at a ratio of 1-for-500 (the &ldquo;Reverse Stock Split&rdquo;) anticipated to be effective on
or about December 2, 2020 (the &ldquo;Effective Date&rdquo;), at which time, the Company&rsquo;s common stock will trade thereafter
on a </FONT>post-split adjusted basis<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">.&nbsp;
The Company&rsquo;s corporate website is located at <FONT STYLE="color: black"><U>www.mosaicie.com</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Mosaic&rsquo;s lead
development platform has broad potential for the development of therapeutics and vaccines to address a wide range of diseases
including cancer and infectious diseases with a primary focus on immuno-oncology.&rdquo; stated Steven King, president and
chief executive officer of Mosaic. &ldquo;Data and recent publications have already garnered positive interest from the
biotechnology and pharmaceutical community which is an important part of creating value for our stockholders. We believe the
name change to Mosaic ImmunoEngineering Inc. and the change in our capital structure are important next steps to making the
Company even more attractive to a broader range of investors. We look forward to sharing more information on our development
plans in the very near future.&rdquo;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About the Reverse Stock Split</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Reverse Stock Split will reduce the
number of fully diluted shares of the Company&rsquo;s common stock currently issued and outstanding, including the number of shares
issuable upon the conversion of Series A and Series B Convertible Voting Preferred Stock, from approximately 4 billion shares to
approximately 8 million shares. Every 500 outstanding shares of common stock, which are outstanding on the anticipated effective
date of December 2, 2020, will be combined into and automatically become one (1) outstanding share of common stock of the Company
without increasing or decreasing the par value of each share of common stock. No fractional share will be issued in connection
with the foregoing combination of the shares pursuant to the Reverse Stock Split. Instead, the Company will issue to the Company&rsquo;s
stockholders holding a fractional share of common stock one (1) additional share of common stock for each fractional share. Each
stockholder&rsquo;s percentage ownership interest in the Company and proportional voting power remains virtually unchanged as a
result of the Reverse Stock Split, except for minor changes and adjustments that will result from rounding fractional shares into
whole shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Reverse Stock Split,
the number of authorized shares of common stock was reduced from 600,000,000 shares to 100,000,000 shares.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stockholders who are holding their shares
in electronic form at a brokerage firm, bank or other nominee will automatically have their positions adjusted to reflect the Reverse
Stock Split.</P>

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