Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: Subsequent Events
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11. Subsequent Events
Always my favorite section of the report. (Sarcasm)
During the period December 1, 2011 through January 9, 2012, we purchased 552,016 shares of our common stock at an aggregate cost of $28,985 pursuant to our stock buyback program. (Bullish signal IMo, indicative of BOD expectation of higher SP ahead. Of course, it could be argued, "Why didn't they purchase more if the expectation is higher SP ahead" I get that..:))
In December 2011 we received $40,054 from Deutsche Bank relating to partial redemptions of auction rate securities occurring on December 1, 2011. Such amount is a recovery on the $648,740 realized loss on sale of marketable securities recognized during the quarter ended August 31, 2010. Deutsche Bank had repurchased our illiquid auction rate securities pursuant to our settlement agreement with them in September 2010. (Found Money !!! ..LOL)
On December 14, 2011, we contributed $200,000 to PDS following a determination by PDS’ management committee that additional funds were required so that PDS could fund the initial installment of a legal retainer payable to newly engaged IP counsel. In connection with our contribution, TPL forfeited rights to $200,000 of special litigation support payments due it pursuant to the October 6, 2011 settlement agreement. The forfeited right will be treated as an in-kind capital contribution of $200,000. Necessary investment...But let's not repeat it, Ok?
During December 2011, we renewed the PDSG lease of Suite 100 through March 2012 at $11,028 per month. 3 Month Lease-on-Life for PDSG...Not exactly a ringing endorsement..
On January 4, 2012 we received a federal tax refund of $421,937. Excellent !!...PTSC needs every penny !
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