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

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 10
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 FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Unaudited)

The
following is RSU activity during the three months ended March 31, 2025:

Schedule
of restricted stock unit activity 

    Number of Restricted Shares 
  
    Outstanding
    as December 31, 2024 
     500,000 
  
    RSU’s granted 
     - 
  
    Vested 
     (250,000)
  
    Expired 
     - 
  
    Forfeitures 
     - 
  
    Outstanding as March 31,
    2025 
     250,000 

During
the year ended December 31, 2024, a total of 500,000 restricted
stock units (“RSU”), with an aggregate fair market value of approximately $0.6 million
were granted to the Company’s Chief Executive Officer under the 2022 Omnibus Incentive Plan. These RSU’s vest as
follows: (i) 50%
on February 12, 2025 (ii) 50%
at 6-month anniversary of the date of grant. The awards were fair valued using the closing price of the stock of $1.19 on
December 6th, 2024.

As
of March 31, 2025, there was approximately $0.2 million unrecognized compensation cost related to unvested RSU’s awards granted.
These costs will be expensed through second quarter of 2025.

Warrants

The
Company has granted warrants to purchase shares of Common Stock. Warrants may be granted to affiliates in connection with certain agreements.
Warrant activity for the three months ended March 31, 2025 and 2024 is summarized below:

Schedule of warrant activity

    Weighted  
    Weighted
Average  

    Number of  
    Average Exercise  
    Remaining Contractual  
    Aggregate 

    Warrants  
    Price  
    Term (Years)  
    Intrinsic Value 
  
    Outstanding as December 31, 2023 
     1,763,570  
    $3.88  
     4.6  
              - 
  
    Granted 
     -  
    $-  
     -  
     - 
  
     Outstanding as March 31,