Agoracom: Small Cap Investment - Mosaic ImmunoEngineering Inc. - Re: LL - Re: Why the 5% additional dilution since the 10K filing?!

Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

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Why the 5% additional dilution since the 10K filing?!

lambertslunatics

Sep 15, 2008 08:36AM

Re: Why the 5% additional dilution since the 10K filing?!

aimgator

Sep 15, 2008 08:52AM

Re: Why the 5% additional dilution since the 10K filing?!

nezahualcoyotl2012

Sep 15, 2008 09:32AM

nezahualcoyotl2012 / Re: Why the 5% additional dilution since the 10K filing?!

lambertslunatics

Sep 15, 2008 09:41AM

Buffet vs RG

ignited

Sep 15, 2008 10:06AM

Re: nezahualcoyotl2012 / Re: Why the 5% additional dilution since the 10K filing?!

jldmt

Sep 15, 2008 10:09AM

Re: LL - Re: Why the 5% additional dilution since the 10K filing?!

optymystic

Sep 15, 2008 10:52AM

forestgump

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Re: LL - Re: Why the 5% additional dilution since the 10K filing?!

in response to

Re: LL - Re: Why the 5% additional dilution since the 10K filing?!

optymystic

posted on Sep 15, 2008 11:10AM

4. Notes Receivable

During fiscal year 2008, SSDI sold a membership interest in its subsidiary DataSecurus, LLC (now known as Talis) to an unrelated third party for $100,000 in cash and a $50,000 non-interest bearing note receivable due in June 2008. On June 1, 2008, SSDI assigned the $50,000 note receivable to us and we agreed to reduce the amount of our line of credit with SSDI by the amount of the note receivable. On June 26, 2008, we were paid in full by the third party debtor.

On May 30, 2008, we purchased a secured convertible promissory note from Crossflo Systems, Inc., a California corporation (“Crossflo”) with a face amount of $400,000. Interest accrues on the note at a rate of 5.25% per annum and will be due with principal at the earlier of (i) September 30, 2008, (ii) consummation of a equity financing by Crossflo which closes on or before September 30, 2008, in which Crossflo sells and issues shares of its convertible preferred stock resulting in aggregate gross proceeds to Crossflo of at least $2.5 million (a “Qualified Financing”), or (iii) upon or after the occurrence of an event of default, as defined. The note is secured by substantially all assets of Crossflo.

The Crossflo note receivable is convertible at our option, at any time prior to September 30, 2008, into shares of Crossflo’s Series F convertible preferred stock equal to 4% of Crossflo’s then issued and outstanding equity securities. In addition, the entire principal is automatically convertible into shares of Crossflo’s Series F convertible preferred stock at the closing of a Qualified Financing. The number of shares of Series F convertible preferred stock to be issued upon automatic conversion of the principal amount is the greater of (i) 4% of Crossflo’s then issued and outstanding equity securities, and (ii) the principal amount divided by the per share purchase price paid by the investors participating in the Qualified Financing. Upon an event of default, as defined, the principal amount of the note may be converted into shares of Crossflo’s Series F convertible preferred stock equal to 4% of Crossflo’s then issued and outstanding equity securities. Upon maturity on September 30, 2008, the principal amount of the note will automatically be converted into shares of Crossflo’s Series F convertible preferred stock equal to 4% of Crossflo’s then issued and outstanding equity securities.

Upon conversion of the principal amount of the note pursuant to the above, we are entitled to receive shares of Crossflo’s common stock equal to all accrued and unpaid interest divided by $0.20.

regards forest

1 Recommendations

Re: nezahualcoyotl2012 / Re: Why the 5% additional dilution since the 10K filing?!

pappythom

Sep 15, 2008 11:13AM

Re: Why the 5% additional dilution since the 10K filing?!

SGE1

Sep 15, 2008 11:18AM

SGE1 / Re: Why the 5% additional dilution since the 10K filing?!

lambertslunatics

Sep 15, 2008 12:11PM

Re: SGE1 / Re: Why the 5% additional dilution since the 10K filing?!

SGE1

Sep 15, 2008 12:39PM

SGE1 / Re: Why the 5% additional dilution since the 10K filing?!

lambertslunatics

Sep 15, 2008 12:57PM

Re: SGE1 / Re: Why the 5% additional dilution since the 10K filing?!

SGE1

Sep 15, 2008 06:41PM

SGE1 / Re: Why the 5% additional dilution since the 10K filing?!

lambertslunatics

Sep 15, 2008 07:37PM

Re: SGE1 / Re: Why the 5% additional dilution since the 10K filing?!

SGE1

Sep 16, 2008 06:56AM

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