Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 1478

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 13
Chunk 1478
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 were not
included in the computation of diluted earnings per share, because to do so would have an antidilutive effect. As of December 31, 2023
there was 1,763,750 stock warrants and 1,215,001 stock options that were not included in the computation of diluted earnings per share,
because to do so would have an antidilutive effect.

Recent
Accounting Pronouncements 

In
November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.
2023-07, “Improvements to Reportable Segment Disclosures (Topic 280)” which is intended to improve reportable segment disclosure
requirements, primarily through incremental disclosures of segment information on an annual and interim basis for all public entities.
The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly
provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description
of its composition for other segment items and interim disclosures of a reportable segment’s profit or loss and assets. The ASU
is to be applied retrospectively to all prior periods presented in the financial statements and is effective for our Annual Report on
Form 10-K for the fiscal year ended December 31, 2024, and interim periods thereafter. The Company adopted this guidance with no material
impact on its consolidated financial statements. See Note 9.

Recent
Accounting Pronouncements Not Yet Adopted 

In
November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures
(Subtopic 220-40), which requires entities to provide more detailed disaggregation of expenses in the income statement, focusing
on the nature of the expenses rather than their function. The new disclosures will require entities to separately present expenses for
significant line items, including but not limited to, depreciation, amortization, and employee compensation. Entities will also be required
to provide a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively,
disclose the total amount of selling expenses and, in annual reporting periods, provide a definition of what constitutes selling expenses.
This pronouncement is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning
after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of