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: Stockholder Proposals

In this year's proxy there is a stockholder proposal mandating Directors & Senior Executives to purchase self financed stock.

In the Directors statement of opposition they state

.....if approved by our stockholders at the annual meeting, is not binding on the Company or its Board.

http://www.sec.gov/Archives/edgar/data/836564/000101968711003893/patriot_def14a.htm

However, in last year's proxy there was a stockholder proposal requesting that our BoD amend our charter documents to provide for the election of directors by majority vote

In the Directors statement of opposition I could find no mention of this proposal, if approved, being non binding on the company.

http://www.sec.gov/Archives/edgar/data/836564/000101968710004265/patriot_defr14a-113010.htm

It wasn't until the company PR dated 12/2/2011 that shareholders learned of FAQs on the company website. It was here that shareholders learned, for the first time, of the BoDs decision to treat this overhwelmingly approved proposal (11 months earlier) as a non binding proposal.

When, if ever, can any shareholder proposal included in a proxy and voted For become binding on this BoD?



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