Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 710

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 710
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 operating costs 
     8,018,328  
     8,526,049 

    Interest
    income (expense), net 
     165,669  
     (3,456,294)
  
    Net
    loss attributable to common stockholders 
    $(7,852,659) 
    $(11,982,343)
  
    Basic
    and diluted loss per share 
    $(0.51) 
    $(0.85)
  
    Weighted
    average common stock shares outstanding 
     15,444,149  
     13,924,619 

General
and Administrative Expenses. We incurred $4.7 million and $6.5 million in general and administrative expenses during the year ended
December 31, 2024 and December 31, 2023, respectively. General and administrative expenses in 2024 consisted of stock compensation expense
of $1.9 million, payroll expense of $0.9 million, accounting and legal expenses of $0.4 million, marketing, investor relations, advertising,
and general corporate expenses of $1.0 million and insurance expenses of $0.5 million. The decrease in general and administrative expenses
during 2024 relate primarily to a decrease in personnel in 2024 compared to 2023 and a concerted effort to conserve cash until the shelf
registration statement and at-the-market offering was put into place in August 2024.

Related
Party Travel Costs. We incurred $0.5 million in related party travel costs during the year ended December 31, 2023. There were no
related party travel costs incurred during the year ended December 31, 2024. Related party travel costs consisted of a lease and use
of an airplane with an entity under common control. The airplane lease was terminated in March 2023, and hence, we ceased use of the
airplane and there were no further costs incurred.

Interest
income (expense). We earned $0.2 million, in interest income (expense) net, during the year ended December 31, 2024, which consisted
of income earned from funds in a money market account. We incurred $3.5 million, in interest income (expense) net, during the year ended
December 31, 2023, which consisted of $2.8 million of write-off of unamortized deferred financing costs, $0.7 million of debt issuance
costs,