Company: MIRA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010301
Chunk: 21

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 21
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 with the Rule. The terms of
the extension are as follows: on or before October 6, 2025 the company must complete the financing transactions and evidence compliance
with the Rule.

While
we believe these actions will enable us to regain compliance with Nasdaq’s listing requirements, there can be no assurance
that we will be able to execute the necessary steps successfully or within the permitted timeframe. If we fail to regain compliance
with the Rule, our common stock may be subject to delisting from the Nasdaq Capital Market, which could materially and adversely affect the
liquidity and market price of our common stock and limit our access to capital.

Item
3. Quantitative and Qualitative Disclosures About Market Risk

We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act, and therefore are not required to provide the information
under this item per Item 305(e) of Regulation S-K.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

As
of the end of the period covered by this Report, our management, with the participation of our Chief Executive Officer (our principal
executive officer) and our Chief Financial Officer (our principal financial officer) (the “Certifying Officers”), conducted
evaluations of our disclosure controls and procedures. As defined under Sections 13a-15(e) and 15d-15(e) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), the term “disclosure controls and procedures” means controls and other
procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files
or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the rules and
forms of the SEC. Disclosure controls and procedures include without limitation, controls and procedures designed to ensure that information
required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated
to the issuer’s management, including the Certifying Officers, to allow timely decisions regarding required disclosures.

Readers
are cautioned that our management does not expect that our disclosure controls and procedures or our internal control over financial
reporting will necessarily prevent all fraud and material error. An internal control system, no matter how well conceived and operated,
can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Because of the inherent limitations
in