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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Message: From 10-K--preferred stock (Note in bold)

It's a painter's job to paint a house. A main part of that job requires him to dip his paint brush in the can of paint. However, if he doesn't ever put that paint on the house or every complete painting it, then even if he "does his job" by dipping his brush, it hasn't told the whole story.

The BOD and Management's job is to deliver value to shareholders. While I welcome the actions they're now taking, based on their historical performance, actions of omission and commission, and overall INability to accomplish job no. 1, despite "dipping their brush" in many ways along the way, it's frankly very difficult, that even though it seems they may be doing the right thing, to expect that they really are.

I'll wait to see how this all pans out before judging them on this instance, but these actions don't, IMO, absolve them of their past errors, nor do they in and of themselves earn them any points for remaining in their positions. I hope that they win, win big, and the MMP begins to finally flourish as it had in the first year of the M.A., but if that happens, I also hope this BOD has the wisdom, and humility to remove themselves in favor of more appropriately skilled and capable directors.

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