Mosaic ImmunoEngineering Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Mosaic ImmunoEngineering Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

Mosaic ImmunoEngineering Inc. (CPMV) filed a Annual Report (10-K) with the SEC on April 15, 2024. Mosaic ImmunoEngineering Inc. filed its 2023 Form 10-K on April 15, 2024. The company's fiscal year ends on December 31st. Mosaic ImmunoEngineering Inc. was formerly known as Patriot Scientific Corp and Patriot Financial Corp. The company is incorporated in Delaware. Its primary business is in Biological Products (No Diagnostic Substances).

Why It Matters

For investors and stakeholders tracking Mosaic ImmunoEngineering Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial health, operational activities, and strategic direction for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's performance, identify potential risks, and make informed investment decisions.

Risk Assessment

Risk Level: — Mosaic ImmunoEngineering Inc. shows moderate risk based on this filing. The company's financial performance and future prospects are not detailed in the provided header information, making it difficult to assess its current financial health or growth potential.

Analyst Insight

Review the full 10-K filing to understand Mosaic ImmunoEngineering Inc.'s financial performance, operational details, and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-15 — Filing Date (Date of submission)

Key Players & Entities

• Mosaic ImmunoEngineering Inc. (company) — Filer name
• Patriot Scientific Corp (company) — Former company name
• Patriot Financial Corp (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-15 (date) — Filing date

FAQ

Industry Context

Mosaic ImmunoEngineering Inc. operates within the biotechnology sector, specifically focusing on biological products.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the annual 10-K report.

What Investors Should Do

1. Analyze the full 10-K filing for detailed financial statements and management discussion.
2. Research Mosaic ImmunoEngineering Inc.'s business strategy and product pipeline.
3. Compare Mosaic ImmunoEngineering Inc.'s performance against industry peers.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-15: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing information provided; no prior filing data is available for comparison.

Key Financial Figures

• $0.00001 — nge on which registered Common Stock, $0.00001 par value None None Indicate by c
• $407,000 — ("CWRU") in the amount of approximately $407,000 as of December 31, 2023 and on March 22
• $575,000 — es in the aggregate principal amount of $575,000 and $341,632, respectively (see Note 7
• $341,632 — regate principal amount of $575,000 and $341,632, respectively (see Note 7 to the accomp
• $0.40 — referred Stock at a redemption price of $0.40 per share, provided Holocom has suffici
• $433,000 — received cash proceeds in the amount of $433,000 and $343,000, respectively, upon the re
• $343,000 — proceeds in the amount of $433,000 and $343,000, respectively, upon the redemption of 1

Filing Documents

• mosaic_i10k-123123.htm (10-K) — 1040KB
• mosaic_ex2101.htm (EX-21) — 2KB
• mosaic_ex2301.htm (EX-23.1) — 2KB
• mosaic_ex3101.htm (EX-31.1) — 8KB
• mosaic_ex3102.htm (EX-31.2) — 8KB
• mosaic_ex3201.htm (EX-32.1) — 5KB
• mosaic_ex3202.htm (EX-32.2) — 5KB
• 0001683168-24-002402.txt (&nbsp;) — 4532KB
• cpmv-20231231.xsd (EX-101.SCH) — 35KB
• cpmv-20231231_cal.xml (EX-101.CAL) — 47KB
• cpmv-20231231_def.xml (EX-101.DEF) — 156KB
• cpmv-20231231_lab.xml (EX-101.LAB) — 298KB
• cpmv-20231231_pre.xml (EX-101.PRE) — 267KB
• mosaic_i10k-123123_htm.xml (XML) — 478KB

Business

Business 4 ITEM 1A.

Risk Factors

Risk Factors 10 ITEM 1B. Unresolved Staff Comments 27 ITEM 1C. Cybersecurity 27 ITEM 2.

Properties

Properties 28 ITEM 3.

Legal Proceedings

Legal Proceedings 28 ITEM 4. Mine Safety Disclosures 28 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 ITEM 6.

Selected Financial Data

Selected Financial Data 30 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 39 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 39 ITEM 9A.

Controls and Procedures

Controls and Procedures 39 ITEM 9B. Other Information 40 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 41 ITEM 11.

Executive Compensation

Executive Compensation 47 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 48 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 50 ITEM 14. Principal Accountant Fees and Services 50 PART IV ITEM 15. Exhibit and Financial Statement Schedules 52 ITEM 16. Form 10-K Summary 53

SIGNATURES

SIGNATURES 54 i Unless the context otherwise requires, references to the "Company," "Mosaic," "we," "our," or "us" in this Annual Report on Form 10-K ("Report") refer to Mosaic ImmunoEngineering, Inc. and its subsidiaries. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report, including all documents incorporated by reference herein, includes certain statements constituting "forward-looking" statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995, including statements concerning our beliefs, plans, objectives, goals, expectations, anticipations, estimates, intentions, operations, future results and prospects, and we rely on the "safe harbor" provisions in those laws. We are including this statement for the express purpose of availing ourselves of the protections of such safe harbors with respect to all such forward-looking statements. The forward-looking statements in this report reflect our current views with respect to future events and financial performance. In this report, the words "anticipates," "believes," "expects," "intends," "future," "estimates," "may," "could," "should," "would," "will," "shall," "propose," "continue," "predict," "plan" and similar expressions are generally intended to identify certain of the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Any forward-looking These forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to those items shown under "Item 1A. Risk Factors" and "Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations" included in Part II. You should rea

Business

Business Overview We are a development-stage biotechnology company focused on advancing and eventually commercializing immunotherapies for the treatment of cancer. We have historically advanced an early-stage product candidate, MIE-101, that is based on a naturally occurring plant virus licensed from Case Western Reserve University ("CWRU") (see Note 12 to the accompanying consolidated financial statements). In addition, we are pursuing new product candidates and platforms to expand our pipeline based on a deep understanding of immunotherapies, although we may be unsuccessful in our efforts to identify new product candidates. Business Strategy Our strategy is to leverage our considerable industry experience, understanding of immunotherapies, and development expertise to identify, develop and commercialize product candidates with significant market potential that can fulfill unmet medical needs in the treatment of cancer. We have assembled a management team along with both scientific and business advisors, including recognized experts in the field of immunotherapy, with significant industry and regulatory experience to lead and execute the development and commercialization of immunotherapy products. We are focused on identifying and successfully licensing or acquiring new product candidates. Our Corporate History and Background Private Mosaic, a Delaware corporation, was formed on March 30, 2020. On July 1, 2020, we signed a Material Transfer, Evaluation, and Exclusive Option Agreement ("License Option Agreement") with Case Western Reserve University ("CWRU"), granting us the exclusive right to license the cowpea mosaic virus ("CPMV") platform technology to treat and prevent cancer and infectious diseases in humans and for veterinary use. On May 4, 2022, we entered into the license agreement with CWRU ("License Agreement") pursuant to our rights granted under the License Option Agreement (see Note 6 to the accompanying audited consolidated financial statement

View Full Filing

View this 10-K filing on SEC EDGAR