Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 991

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9
Chunk 991
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 finance and general operations, which began in March 2022 for 37 months. On December
1, 2023, the Company formally terminated the lease with the landlord. There was a remaining deposit due from the landlord to the Company
of $0.005 million, which is recorded in accounts receivable in the accompanying balance sheet as of December 31, 2023. As of December
31, 2024, the amount was collected.

The
Company also leased a jet (Note 5) from a related party, which terminated on March 31, 2023.

Variable
lease costs

Variable
lease costs primarily include utilities, property taxes, and other operating costs that are passed on from the lessor. Variable lease
costs in 2023 related to the aircraft include usage expenses, which includes pilot expenses, jet fuel and general flight expenses.

The
components of lease expense were as follows:

Schedule of  Lease Expense  

    2024  
    2024 

    Year
    Ended December 31, 

    2024  
    2024 
  
    Lease
    costs 

    Operating
    lease costs 
    $5,092  
    $200,283 
  
    Variable
    lease costs 
     -  
     311,126 
  
    Total
    lease cost 
    $5,092  
    $511,409 

    F-14

MIRA
                                            PHARMACEUTICALS, INC.

NOTES
TO THE FINANCIAL STATEMENTS

DECEMBER
31, 2024 AND 2023

Supplemental
cash flow information related to leases were as follows:

 Schedule
of Cash Flow Information Related to Leases

    2024  
    2023 

    Year
    Ended December 31, 

    2024  
    2023 
  
    Other
    lease information 

    Cash paid for amounts
    included in the measurement of lease liabilities 

    Operating
    cash flows from operating leases 
    $5,092  
    $511,409 

Note
7. Income taxes:

The
significant components of the Company’s net deferred tax assets are as follows as of December 31:

 Schedule
of Deferred Tax Assets and Liabilities

    2024  
    2023 

    December
    31,