Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 53

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 53
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xley Act, reduced disclosure obligations
regarding executive compensation in our periodic reports and exemptions from the requirements of holding a nonbinding advisory vote on
executive compensation and shareholder approval of any golden parachute payments not previously approved. We could be an emerging growth
company until the fifth anniversary of the fiscal year end date following the completion of our initial public offering, however, our
status would change more quickly if we have more than US$1.235 billion in annual revenue, if the market value of our shares of common
stock held by non-affiliates equals or exceeds US$700 million as of June 30 of any year, or we issue more than US$1.0 billion of non-convertible
debt over a three-year period before the end of that period.

Investors
could find our shares less attractive if we choose to rely on these exemptions. If some investors find shares less attractive as a result
of any choice to reduce future disclosure, there may be a less active trading market for our shares and our share price may be more volatile.

For
as long as we are an “emerging growth company”, our independent registered public accounting firm will not be required to
attest to the effectiveness of our internal controls over financial reporting pursuant to Section 404. We could be an “emerging
growth company” until the fifth anniversary of the fiscal year end date following the completion of our initial public offering.
An independent assessment of the effectiveness of our internal controls could detect problems that our management’s assessment
might not. Undetected material weaknesses in our internal controls could lead to financial statement restatements and require us to incur
the expense of remediation.

If
we identify material weaknesses in our internal control over financial reporting, or if we are unable to comply with the requirements
of Section 404 in a timely manner or assert that our internal control over financial reporting is effective, or if our independent registered
public accounting firm is unable to express an opinion as to the effectiveness of our internal control over financial reporting when
required, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our securities
could be negatively affected, and we could become subject to investigations by the stock exchange on which our securities are listed,
the SEC, or other regulatory authorities, which could require additional financial and management resources.

Additionally,
we are a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take
adv