Company: MIRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024077
Chunk: 31

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 31
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 concern through 12 months after the date the financial statements included in this Report are issued.

17

To
alleviate the conditions that raise substantial doubt about our ability to continue as a going concern, we plan to secure additional
capital, through public equity offerings under the ATM Agreement and strategic transactions, including potential alliances and drug product
collaborations; however, none of these alternatives are committed at this time. There can be no assurance that we will be successful
in obtaining sufficient funding on terms acceptable to us to fund continuing operations, if at all, identify and enter into any strategic
transactions that will provide the capital that we will require or achieve the other strategies to alleviate the conditions that raise
substantial doubt about our ability to continue as a going concern. If none of these alternatives are available, or if they are not available
on satisfactory terms, we will not have sufficient cash resources and liquidity to fund our business operations. The failure to obtain
sufficient capital on acceptable terms when needed may require us to delay, limit, or eliminate the development of business opportunities
and our ability to achieve our business objectives and our competitiveness, and our business, financial condition, and results of operations
will be materially adversely affected, or, in the worst case scenario, we could be forced to cease operations and dissolve. In addition,
the perception that we may not be able to continue as a going concern may cause others to choose not to deal with us due to concerns
about its ability to meet our contractual obligations.

We
did not have any material non-cancellable contractual obligations as of June 30, 2025.

Cash
Flows

The
following table provides information regarding our cash flows for the periods presented:

    Six
    months Ended June 30, 

    2025  
    2024 
  
    Net cash flows from: 

    Operating activities 
    $(2,429,678) 
    $(1,913,465)
  
    Financing
    activities 
     327,222  
     134,680 
  
    Net change in cash 
    $(2,102,456) 
    $(1,778,785)

Net
Cash Flows from Operating Activities

The
cash used in operating activities resulted primarily from our net losses, offset by stock-based compensation expense, changes in
prepaid expenses and changes in components of accounts payable and accrued expenses.

For
the six months ended June 30, 2025, operating activities used $2.