Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 173

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 5
Chunk 173
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 Year Ended October
31, 2023

The table below shows a summary of our cashflows
for the periods indicated:

  Year                                                                                     
  Ended October 31,                                                                        
                                                 2024                                      
 ───────────────────────────────────────────────────────────────────────────────────────────
                                                 USD in thousands                          
  Net cash used in operating activities                                (4,859      (6,301  
  Net cash used in investing activities                                  (238         (26  
  Net cash provided by financing activities                             6,254      11,664  
  Effect of foreign exchange on cash                                      (11         (38  
  Net increase in cash                                                  1,146       5,299  

Net cash used in operating activities

Net cash used in operating activities for the year
ended October 31, 2024, amounted to $ 4,858,659 representing an increase of $1,442,813, or 22.9%, compared to $6,301,472 for the year
ended October 31, 2023. This decrease was mainly due to decrease in the net loss.

Net cash used in investing activities

Net cash used in investing activities for the year
ended October 31, 2024, amounted to $238,097 representing an increase of $211,869 or 807.8%, compared to $26,228 for the year ended October
31, 2023. This increase was mainly due to acquisition of short-term investments.

Net cash provided by financing activities

Net cash provided by financing activities for the
year ended October 31, 2024, amounted to $ 6,254,378 representing a decrease of $5,410,018, or 46.4%, compared to $11,664,396 for the
year ended October 31, 2023. This decrease was due to fewer financing transactions in the current period when compared to the financing
transactions in the prior period.

We have incurred losses and cash flow deficits
from operations since inception, resulting in an accumulated deficit as of October 31, 2024 of $24,022,741. We anticipate that we will
continue to incur net losses for the foreseeable future. To meet future capital needs, we would need to raise additional capital through
equity or debt financing or other strategic transactions. However, any such financing may not be on favorable terms or even available
to us. Our failure to obtain sufficient funds on commercially acceptable terms when needed would have a