Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 315

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 315
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 to attract additional funds on commercially acceptable terms, it may adversely affect our ability to achieve our development
and commercialization goals, which could have a material and adverse effect on our business, results of operations and financial condition.

We
believe that we have sufficient resources available to support our development activities and business operations and timely satisfy
our obligations as they become due into the third quarter of 2025. We do not have sufficient cash and cash equivalents as of the date
of filing this Annual Report on Form 10-K to support our operations for at least the 12 months following the date the financial statements
are issued. These conditions raise substantial doubt about our ability to continue as a going concern through 12 months after the date
that the financial statements are issued.

To
alleviate the conditions that raise substantial doubt about our ability to continue as a going concern, we plan to secure additional
capital, potentially through a combination of public or private equity offerings and strategic transactions, including potential alliances
and drug product collaborations; however, none of these alternatives are committed at this time. There can be no assurance that we will
be successful in obtaining sufficient funding on terms acceptable to us to fund continuing operations, if at all, identify and enter
into any strategic transactions that will provide the capital that we will require or achieve the other strategies to alleviate the conditions
that raise substantial doubt about our ability to continue as a going concern. If none of these alternatives are available, or if available,
are not available on satisfactory terms, we will not have sufficient cash resources and liquidity to fund our business operations for
at least the 12 months following the date the financial statements are issued. The failure to obtain sufficient capital on acceptable
terms when needed may require us to delay, limit, or eliminate the development of business opportunities and our ability to achieve our
business objectives and our competitiveness, and our business, financial condition, and results of operations will be materially adversely
affected. In addition, the perception that we may not be able to continue as a going concern may cause others to choose not to deal with
us due to concerns about our ability to meet our contractual obligations.

The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction
of liabilities in the normal course of business, and do not include any adjustments relating to recoverability and classification of
recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a
going concern