Mosaic ImmunoEngineering Files Q2 2025 10-Q

TL;DR

Mosaic ImmunoEngineering filed its Q2 2025 10-Q. Business as usual in Huntington Beach.

AI Summary

Mosaic ImmunoEngineering Inc. filed its quarterly report for the period ending June 30, 2025. The company, previously known as Patriot Scientific Corp and Patriot Financial Corp, is involved in Biological Products. Its business address is located at 9114 Adams Ave., #202, Huntington Beach, CA 92646.

Why It Matters

This filing provides investors with an update on Mosaic ImmunoEngineering's financial performance and operational status for the second quarter of 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediately apparent significant negative or positive developments.

Key Numbers

• 20250630 — Report Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20250819 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2025-01-01 to 2025-06-30 — Fiscal Year-to-Date Period (Covers the first six months of the fiscal year 2025.)

Key Players & Entities

• Mosaic ImmunoEngineering Inc. (company) — Filer
• Patriot Scientific Corp (company) — Former company name
• Patriot Financial Corp (company) — Former company name
• 0000836564 (company) — Central Index Key
• 2836 (dollar_amount) — Standard Industrial Classification Code
• 9114 ADAMS AVE. #202 (company) — Business Address
• HUNTINGTON BEACH, CA 92646 (company) — Business Address City, State, Zip
• 657-208-0890 (company) — Business Phone

FAQ

Key Financial Figures

• $0.00001 — 2,137 shares of common stock, par value $0.00001 per share, were outstanding. INDEX P
• $5 million — ible Notes Offering") for raising up to $5 million from the issuance of convertible notes
• $2.377 — Financing or Smaller Financing, or (ii) $2.377 for the May Convertible Notes ("May Con
• $1.00 — tible Notes ("May Conversion Price") or $1.00 for the February Convertible Notes ("Fe
• $50,000 — y Convertible Note in the amount of (a) $50,000 or (b) an amount equivalent to the prin
• $866,632 — ed at the February Conversion Price was $866,632. In addition, the conversion price may
• $916,632 — lly recorded at their amortized cost of $916,632 and are being accreted to their redempt

Filing Documents

• mosaic_i10q-063025.htm (10-Q) — 490KB
• mosaic_ex3101.htm (EX-31.1) — 8KB
• mosaic_ex3201.htm (EX-32.1) — 5KB
• 0001683168-25-006318.txt ( ) — 2712KB
• cpmv-20250630.xsd (EX-101.SCH) — 24KB
• cpmv-20250630_cal.xml (EX-101.CAL) — 32KB
• cpmv-20250630_def.xml (EX-101.DEF) — 106KB
• cpmv-20250630_lab.xml (EX-101.LAB) — 217KB
• cpmv-20250630_pre.xml (EX-101.PRE) — 189KB
• mosaic_i10q-063025_htm.xml (XML) — 239KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

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 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 21

Controls and Procedures

Item 4. Controls and Procedures 21

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 22

Risk Factors

Item 1A. Risk Factors 22

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 22

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 22

Other Information

Item 5. Other Information 22

Exhibits

Item 6. Exhibits 22

SIGNATURES

SIGNATURES 23 2 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, 2024, which was filed with the Securities and Exchange Commission (the SEC) on April 15, 2025. 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 June 30, 2025 December 31, 2024 unaudited ASSETS Current assets: Cash and cash equivalents $ 53,583 $ 115,019 Prepaid expenses and other current assets 4,116 26,592 Total current assets 57,699 141,611 Total assets $ 57,699 $ 141,611 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 133,808 $ 134,865 Accrued compensation 4,011,998 3,767,652 Accrued consulting 787,903 787,903 Accrued expenses and other 636,632 646,850 Loan payable 200,000 200,000 Total current liabilities 5,770,341 5,537,270 Convertible notes, net 1,428,880 1,392,515 Total liabilities 7,199,221 6,929,785 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 2,050,073 Accumulated deficit ( 9,191,668 ) ( 8,838,320 ) Total stockholders' deficit ( 7,141,522 ) ( 6,788,174 ) Total liabilities and stockholders' deficit $ 57,699 $ 141,611 See accompanying notes to unaudited condensed consolidated

financial statements

financial statements. 4 Mosaic ImmunoEngineering, Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Operating expenses: Research and development $ 16,006 $ 60,707 $ 31,809 $ 128,018 General and administrative 132,848 213,595 291,819 415,050 Total operating expenses 148,854 274,302 323,628 543,068 Loss from operations ( 148,854 ) ( 274,302 ) ( 323,628 ) ( 543,068 ) Other income (expense): Other income – – 14,000 – Interest income 1 1 4 4 Interest expense on loan payable ( 2,493 ) – ( 4,959 ) – Non-cash interest expense on convertible notes ( 18,282 ) ( 19,416 ) ( 36,365 ) ( 37,699 ) Accretion to redemption value on convertible notes – – – ( 1,446 ) Total other income (expense), net ( 20,774 ) ( 19,415 ) ( 27,320 ) ( 39,141 ) Loss before provision for income taxes ( 169,628 ) ( 293,717 ) ( 350,948 ) ( 582,209 ) Provision for income taxes 2,400 – 2,400 – Net loss $ ( 172,028 ) $ ( 293,717 ) $ ( 353,348 ) $ ( 582,209 ) Basic and diluted loss per common share $ ( 0.02 ) $ ( 0.04 ) $ ( 0.05 ) $ ( 0.08 ) Weighted average number of common shares outstanding – basic and diluted 7,236,447 7,236,447 7,236,447 7,236,447 See accompanying notes to unaudited condensed consolidated financial statements. 5 Mosaic ImmunoEngineering, Inc. Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) For the Three Months Ended June 30, 2025 Series A Convertible Voting Preferred Stock Series B Convertible Voting Preferred Stock Common Stock Additional Paid-in Accumulated Total Stockholders' Shares Amount Shares Amount Shares Amount Capital Deficit Deficit Balances, March 31, 2025 – $ – 70,000 $ 1 7,242,137 $ 72 $ 2,050,073 $ ( 9,019,640 ) $ ( 6,969,494 ) Net loss – – – – – – – ( 172,028 ) ( 172,028 ) Balances, Ju

financial statements

financial statements. 6 Mosaic ImmunoEngineering, Inc. Condensed Consolidated Statement of Cash Flows (Unaudited) For the Six Months Ended June 30, 2025 2024 Operating activities: Net loss $ ( 353,348 ) $ ( 582,209 ) Adjustments to reconcile net loss to net cash used in operating activities: Share-based compensation – 4,867 Non-cash interest on convertible notes 36,365 36,565 Interest expense on loan payable – 1,133 Accretion to redemption value on convertible notes – 1,446 Changes in operating assets and liabilities: Prepaid expenses and other current assets 22,476 14,812 Accounts payable ( 1,057 ) 6,562 Accrued compensation 244,346 327,566 Accrued expenses and other ( 10,218 ) ( 18,186 ) Net cash used in operating activities ( 61,436 ) ( 207,444 ) Financing activities: Proceeds from issuance of loan payable – 55,000 Net cash provided by financing activities – 55,000 Net change in cash and cash equivalents ( 61,436 ) ( 152,444 ) Cash and cash equivalents, beginning of period 115,019 156,178 Cash and cash equivalents, end of period $ 53,583 $ 3,734 Supplemental disclosure of cash flow information: Cash paid for income taxes $ 2,400 $ – Cash paid for interest $ – $ – See accompanying notes to unaudited condensed consolidated financial statements. 7 Mosaic ImmunoEngineering, Inc. Notes to Unaudited Condensed Consolidated Financial Statements For the Three and Six Months Ended June 30, 2025 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 ("Report" or "Quarterly Report") refer to Mosaic ImmunoEngineering, Inc. and its subsidiaries. 1. Organization and Business Organization Mosaic ImmunoEngineering, Inc. (the "Company," "Mosaic," "we," "us," or "our") is a corporation organized under Delaware law on March 24, 1992. We are a development-stage biotechnolog

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