Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 51

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 51
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 consider
an investment in our securities.

Certain
of our founding stockholders, plus our existing officers and directors, control a substantial interest in us and thus may influence certain
actions requiring stockholder vote.

Our
founding stockholders, which include the Bay Shore Trust, and MIRALOGX, collectively own in excess of 27% of our issued and outstanding
common stock, as well as outstanding warrants. Our officers and directors also own shares of our common stock. Therefore, these entities
and individuals could influence the outcome of matters requiring stockholder approval, including the election of directors and approval
of significant corporate transactions.

Sales
of a significant number of shares of our common stock in the public markets, or the perception that such sales could occur, could depress
the market price of our common stock.

Sales
of a significant number of shares of our common stock in the public markets, or the perception that such sales could occur as a result
of our utilization of a universal shelf registration statement or otherwise could depress the market price of our common stock and impair
our ability to raise capital through the sale of additional equity securities. Notably, a large number of shares of our common stock
held by Bay Shore Trust and MIRALOGX have been registered for public resale and could be sold in the public market, depressing our stock
price. Moreover, we cannot in general predict the effect that future sales of our common stock or the market perception that we are permitted
to sell a significant number of our securities would have on the market price of our common stock.

The
requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract
and retain executive management and qualified board members.

As
a reporting issuer, we are subject to the reporting requirements of applicable securities legislation of the jurisdiction in which we
are a reporting issuer, the listing requirements of Nasdaq and other applicable securities rules and regulations. Compliance with these
rules and regulations increase our legal and financial compliance costs, make some activities more difficult, time-consuming or costly
and increase demand on its systems and resources. Applicable securities laws require us to, among other things, file certain annual and
quarterly reports with respect to its business and results of operations. In addition, applicable securities laws require us to, among
other things, maintain effective disclosure controls and procedures and internal control over financial reporting.

In
order to maintain and, if required, improve its disclosure controls and procedures and internal control over financial reporting to meet