Company: MDCXW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001062993-25-006485
Chunk: 357

Company: Medicus Pharma Ltd.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7A
Chunk 357
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                These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
                We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.
                Our audit included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion.
                /s/ MNP LLP
                Chartered Professional AccountantsLicensed Public Accountants
                We have served as the Company’s auditor since 2014.
                Mississauga, Canada
                March 28, 2025
                
                    F-3

                Medicus Pharma Ltd.
                Consolidated Financial Statements
                For the years ended December 31, 2024 and 2023
                (expressed in United States dollars, except number of shares)

                    F-4

                        Medicus Pharma Ltd.Consolidated Balance Sheets(expressed in United States dollars)

                                December 31,

                                2024

                                2023

                                Assets

                                Current assets:

                                   Cash and cash equivalents
                                $
                                4,164,323
                                 
                                $
                                1,719,338

                                   Prepaid expenses
                                 
                                1,213,984

                                173,