Mosaic ImmunoEngineering Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Mosaic ImmunoEngineering Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Mosaic ImmunoEngineering Inc. (CPMV) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Mosaic ImmunoEngineering Inc. filed a 10-Q report for the period ending March 31, 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. The filing is for the period of January 1, 2024, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking Mosaic ImmunoEngineering Inc., this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the first quarter of 2024. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: — Mosaic ImmunoEngineering Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive developments.

Analyst Insight

Monitor future filings for updates on the company's financial performance and any strategic shifts.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing)
• 2024-05-14 — Filing Date (10-Q submission)
• 1231 — Fiscal Year End (Annual reporting cycle)

Key Players & Entities

• Mosaic ImmunoEngineering Inc. (company) — Filer
• Patriot Scientific Corp (company) — Former company name
• Patriot Financial Corp (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-05-14 (date) — Filing date

FAQ

Industry Context

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

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze any disclosures regarding product development or clinical trials.
3. Compare the reported period's performance against previous quarters and the same period last year.

Key Dates

• 2024-03-31: Quarter End — End of reporting period for the 10-Q
• 2024-05-14: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing updated financial information compared to the previous year's filings.

Key Financial Figures

• $0.00001 — 2,137 shares of common stock, par value $0.00001 per share, were outstanding. INDEX P
• $0.40 — 31, 2007 at a redemption price equal to $0.40 per share or $840,000 in aggregate, pro
• $840,000 — ption price equal to $0.40 per share or $840,000 in aggregate, provided Holocom has suff

Filing Documents

• mosaic_i10q-033124.htm (10-Q) — 606KB
• mosaic_ex1002.htm (EX-10.2) — 84KB
• 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
• 0001683168-24-003375.txt (&nbsp;) — 3042KB
• cpmv-20240331.xsd (EX-101.SCH) — 27KB
• cpmv-20240331_cal.xml (EX-101.CAL) — 33KB
• cpmv-20240331_def.xml (EX-101.DEF) — 111KB
• cpmv-20240331_lab.xml (EX-101.LAB) — 222KB
• cpmv-20240331_pre.xml (EX-101.PRE) — 196KB
• mosaic_i10q-033124_htm.xml (XML) — 246KB

Financial Statements

Item 1. Financial Statements 4

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 42

SIGNATURES

SIGNATURES 43 i Unless the context otherwise requires, references to the "Company," the "combined company," "Mosaic," "we," "our," or "us" in this Quarterly Report on Form 10-Q refer to Mosaic ImmunoEngineering, Inc. and its subsidiaries. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q ("Report" or Quarterly Report"), including all documents incorporated by reference herein, includes certain statements constituting "forward-looking" 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 "future," "estimates," "may," "could," "should," "would," "will," "shall," "propose," "continue," "predict," "plan" or the negative versions of these terms and other similar expressions are generally intended to identify certain of these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially from those in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed in "Risk Factors," in Part II, Item 1A of this Report as well as information provided elsewhere in this Report and our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission (the SEC) on April 15, 2024. You should carefully consider that information before you make an investment decision. You sh

- FINANCIAL INFORMATION

PART I- FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Mosaic ImmunoEngineering, Inc. Condensed Consolidated Balance Sheets March 31, 2024 December 31, 2023 unaudited ASSETS Current assets: Cash and cash equivalents $ 65,039 $ 156,178 Prepaid expenses and other current assets 13,913 23,355 Total current assets 78,952 179,533 Total assets $ 78,952 $ 179,533 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 129,451 $ 118,478 Accrued compensation 3,346,946 3,184,911 Accrued consulting 787,903 787,903 Accrued expenses and other 632,070 641,763 Total current liabilities 4,896,370 4,733,055 Convertible notes, net 1,337,265 1,317,536 Total liabilities 6,233,635 6,050,591 Commitments and contingencies – – Stockholders' deficit: Preferred stock, $ 0.00001 par value; 5,000,000 shares authorized: – – Series A Convertible Voting Preferred Stock; 630,000 shares designated; no shares issued and outstanding – – Series B Convertible Voting Preferred Stock; 70,000 shares designated; 70,000 shares issued and outstanding 1 1 Common stock, $ 0.00001 par value: 100,000,000 shares authorized: 7,242,137 shares issued and outstanding 72 72 Additional paid-in capital 2,050,073 2,045,206 Accumulated deficit ( 8,204,829 ) ( 7,916,337 ) Total stockholders' deficit ( 6,154,683 ) ( 5,871,058 ) Total liabilities and stockholders' deficit $ 78,952 $ 179,533 See accompanying notes to unaudited condensed consolidated financial statements. 4 Mosaic ImmunoEngineering, Inc. Condensed Consolidated Statements of Operations (Unaudited) For the Three Months Ended March 31, 2024 2023 Operating expenses: Research and development $ 67,311 $ 177,895 General and administrative 201,455 281,878 Total operating expenses 268,766 459,773 Loss from operations ( 268,766 ) ( 459,773 ) Other income (expense): Gain on redemption of preferred stock of Holocom – 77,000 Interest income 3 8

View Full Filing

View this 10-Q filing on SEC EDGAR