Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 784

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 784
---

    (Years)  
    Intrinsic
    Value 
  
    Balance
    Outstanding as January 1, 2023 
     -  
    $-  
     -  
     - 
  
    Granted 
     1,763,570  
    $3.88  
     5.0  
        - 
  
    Balance
    Outstanding as December 31, 2023 
     1,763,570  
    $3.88  
     4.6  
     - 
  
    Granted 
     -  
    $-  
     -  
     - 
  
    Exercised 
     -  
    $-  
     -  
     - 
  
    Balance
    Outstanding as December 31, 2024 
     1,763,570  
    $3.88  
     3.6  
     - 
  
    Exercisable,
    December 31, 2024 
     1,763,570  
    $3.88  
     3.6  
     - 

MIRALOGX
warrants

The
Company issued to MIRALOGX a common stock purchase warrant on November 15, 2023 giving MIRALOGX the right to purchase up to 700,000 shares
of common stock at an exercise price of $2.00 per share. This warrant will expire five years after the date of grant.

The
fair value of the warrants were estimated on the grant date using the Black-Scholes valuation model and level 3 inputs based on assumptions
for expected volatility, expected dividends, expected term, and the risk-free interest rate, which resulted in $1.8 million of warrant
value. This cost was recorded in General and Administrative expenses on the accompanying statement of operations and additional paid
in capital on the accompanying balance sheet as of December 31, 2023

Key
assumptions used to value warrants in November 2023 are as follows

Schedule
of Key Assumptions Used to Value Underwriter Warrants

    Expected
    price volatility 
     127.11%
  
    Risk-free
    interest rate 
     4.52%
  
    Fair
    Market Value of underlying Common Stock 
    $2.95 
  
    Expected