Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 227

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1C
Chunk 227
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 expenses consist of employee-related expenses, including salaries, benefits, and travel, and other administrative
functions, as well as fees paid for legal, accounting and tax services, consulting fees and facilities costs not otherwise included in
research and development expense. Legal costs include general corporate legal fees. We expect to incur additional expenses
as a result of becoming a public company, including expenses related to compliance with the rules and regulations of the SEC and Nasdaq,
additional insurance, investor relations and other administrative expenses and professional services.

Interest
expense

Interest
expense, net consists of accrued interest on a related party line of credit, net of earned interest income.

59

Results
of Operations for the year ended December 31, 2024 and 2023

    Year
                                            Ended December
                                            31, 

    2024  
    2023 
  
    Revenues 
    $-  
    $- 

    Operating
    costs: 

    General
    and administrative expenses 
     4,712,753  
     6,499,537 
  
    Related
    party travel costs 
     -  
     453,550 
  
    Research
    and development expenses 
     3,305,575  
     1,572,963 
  
    Total
    operating costs 
     8,018,328  
     8,526,049 

    Interest
    income (expense), net 
     165,669  
     (3,456,294)
  
    Net
    loss attributable to common stockholders 
    $(7,852,659) 
    $(11,982,343)
  
    Basic
    and diluted loss per share 
    $(0.51) 
    $(0.85)
  
    Weighted
    average common stock shares outstanding 
     15,444,149  
     13,924,619 

General
and Administrative Expenses. We incurred $4.7 million and $6.5 million in general and administrative expenses during the year ended
December 31, 2024 and December 31, 2023, respectively. General and administrative expenses in 2024 consisted of stock compensation expense
of $1.9 million, payroll expense of $0.9 million, accounting and legal expenses of $0.4 million, marketing, investor relations, advertising,
and general corporate expenses of $1.0 million and insurance