Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 243

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 19
Chunk 243
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 terror organizations. In October 2024, Israel began limited ground operations against Hezbollah in Lebanon, and in November 2024,            
  a ceasefire was brokered between Israel and Hezbollah. In addition, Iran recently launched direct attacks on Israel involving                
  hundreds of drones and missiles and has threatened to continue to attack Israel and is widely believed to be developing nuclear weapons.     
  Iran is also believed to have a strong influence among extremist groups in the region, such as Hamas in Gaza, Hezbollah in Lebanon,          
  the Houthi movement in Yemen and various rebel militia groups in Syria and Iraq. As of the date of these consolidated financial statements,  
  the war in Israel is ongoing and continues to evolve.                                                                                        
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The
war is on-going as of the issuance date of these financial statements. The Company’s clinical trials, the laboratory that supports
such clinical trials and the Contract Research Organization (CRO) are based in Israel. The extent to which the War may impact the Company’s
financial condition, results of operations, or liquidity is uncertain, and as of the date of issuance of these consolidated financial
statements, the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments
or an adjustment to the carrying value of the Company’s assets or liabilities as of October 31, 2024.

F-9

CLEARMIND
MEDICINE INC.

Notes to
the Consolidated Financial Statements

(Expressed
in United States Dollars)

  Material             

  Basis of Presentation  

The
accompanying consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“ IFRS”),
as issued by the International Accounting Standards Board (“ IASB”) on a going concern basis.

These
consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Clearmindmed Ltd. and Clearmind
Labs Corp. (inactive). All inter-company balances and transactions have been eliminated on consolidation.

These
consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities (including
derivatives) which are presented at fair value through profit or loss (“ FVTPL”) and are presented in U. S. dollars, which
is the Company’s functional currency as of November 1, 2022.

  Significant Accounting Estimates and Judgments  

The
preparation of consolidated financial