Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 1113

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 1113
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 America.

The financial statements of
the Company as of and for the year ended December 31, 2023, before the retrospective application of the expanded segment disclosure requirements
described in Note 9, were audited by other auditors whose report, dated April 1, 2024, expressed an unqualified opinion, with an explanatory
paragraph expressing substantial doubt regarding the Company’s ability to continue as a going concern, on those statements. We also
audited the expanded segments disclosures described in Note 9, related to 2023 and the retrospective application of the expanded segment
disclosure requirements described therein. We were not engaged to audit, review, or apply any procedures to the 2023 financial statements
of the Company other than with respect to the expanded segment disclosures referred to above and, accordingly, we do not express an opinion
or any other form of assurance on the 2023 financial statements taken as a whole.

Going Concern

The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has no revenues,
raised approximately $3.6 million, used approximately $5.6 million of cash in operations and had a net loss of $7.9 million during the
year ended December 31, 2024. These matters raise substantial doubt about the Company’s ability to continue as a going concern.
Management’s Plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our
audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of internal control over financial reporting. As part of our audit, we are required to obtain an understanding of