Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 285

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 285
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 from those that were disclosed in the 2024 Annual Report.

F-44 CLEARMIND MEDICINE INC. Notes to the Condensed Interim Consolidated Financial Statements For the three and nine months ended July 31, 2025 and 2024 (Expressed in United States Dollars) (Unaudited)

| 2. | Material Accounting Policy Information (continued) |

| c. | Significant Accounting Estimates and Judgments |

The preparation of consolidated financial
statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the application of policies
and reported amounts of assets, liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience
and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the
judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ
from these estimates.

Significant Estimates

Derivative Warrant Liabilities and Assets

The Company analyses warrants issued
to determine whether they meet the classification as liabilities or equity. Derivative warrant liabilities and assets are adjusted to
reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations. The
Company uses a fair valuation specialist to estimate the value of these instruments using the Black and Scholes and binomial pricing model.

The key assumptions used in the models
are the expected future volatility in the price of the Company’s shares, the expected life of the warrants, the risk-free interest
rate and the probability of any future adjustment event.

Significant Judgments

The critical judgments that the Company’s
management has made in the process of applying the Company’s accounting policies that have the most significant effect on the amounts
recognized in the Company’s consolidated financial statements are as follows:

Going Concern

The application of the going concern
assumption requires management to take into account all available information about the future, which is at least but not limited to 12
months from the end of the reporting period. The Company is aware that material uncertainties related to events or conditions raise substantial
doubt upon the Company’s ability to continue as a going concern.

F-45 CLEARMIND MEDICINE INC. Notes to the Condensed Interim Consolidated Financial Statements For the three and nine months ended July 31, 2025 and 2024 (Expressed in United States Dollars) (Unaudited)

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