Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 1452

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 12
Chunk 1452
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 1. The CEO assesses performance for the Company and decides how to allocate resources based on the aggregate net loss that
is also reported on the income statement as net loss. The measure of segment assets is reported on the balance sheets as total assets.

The
table below provides information about the Company’s revenue, significant segment expenses and other segment expenses.

 Schedule
of Segment Expenses and Other Segment Expenses

    2024  
    2023 

    Years Ended December 31, 

    2024  
    2023 
  
    Revenues 
    $—  
    $— 
  
    Less segment expenses: 

    Research and development 
     3,305,575  
     1,572,962 
  
    General and administrative 
     4,712,753  
     6,499,537 
  
    Loss from operations 
    $8,018,328  
     8,526,049 
  
    Plus: 

    Interest income (expense) 
     165,669  
     (3,456,294)
  
    Segment Net loss 
    $7,852,659  
    $11,982,343 

Note
10. Subsequent Events

Acquisition Letter of Intent 

On March 19, 2025, MIRA Pharmaceuticals, Inc. (the
“Company”) entered into a binding letter of intent (the “LOI”) with SKNY Pharmaceuticals, Inc. (“SKNY”),
a privately held Delaware corporation, to acquire SKNY through a stock exchange transaction (the “Acquisition”). The acquisition
will bring SKNY-1, a novel oral drug candidate targeting weight loss and smoking cessation—two of the leading causes of preventable
death—into MIRA’s development pipeline. As part of the agreement, SKNY will provide a $5 million capital infusion in cash
or cash equivalents, further strengthening MIRA’s financial position and supporting future growth initiatives.

SKNY holds exclusive rights to its compounds in the
United States, Canada, and Mexico which is license from Miralogx, a related party of the Company. Under the terms of the LOI, SKNY will
merge into the Company through a stock exchange, with each outstanding share of SKNY’s common stock being exchanged for shares of
MIRA’s common stock. The exact exchange ratio will be determined by an independent third-party valuation firm (the “Independent
Valuator”)