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: "We expect PDS will fund its operations through licensing revenue."

The 10-Q also states "Revenue from technology license agreements is recognized at the time a contract is entered into, the license method is determined (paid-in-advance or on-going royalty), and the customer is provided with the licensed technology, if applicable.".

So, two things:

1. It is possible that some licensees took or were required to take an on-going royalty approach. If so, at what payment frequency and how are the payments recognized (e.g. on receipt of the periodic payment?). Can anyone deduce from quarterly reports a trend of quarterly (or annual) payments?

2. If Apple was "paid-in-advance" then if they have already entered into a contract surely the revenue per the above is already recognized. Maybe they are waiting pending any MMP challenge on ARM by TPL?


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