Company: MDCXW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001062993-25-009125
Chunk: 45

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 1,490,000 units at a price of $2.80 per unit.  Each unit consists of one common share of the Company and one warrant to purchase one common share.
      The Company expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. In addition to accessing public markets through the exercise of outstanding warrants, additional  Regulation A financings and the SEPA, management believes that the Company has access to additional capital resources through public and/or private equity offerings, debt financings or other capital sources, including potential collaborations, licenses and other similar arrangements. However, if the Company is unable to secure additional capital, it may be required to take additional measures to reduce costs in order to conserve its cash in amounts sufficient to sustain operations and meet its obligations. These measures could cause significant delays or entirely prevent the Company's continued efforts to commercialize its current or future products, which are critical to the realization of its business plan and the future operations of the Company. This uncertainty, along with the Company's history of losses, indicates that there is substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued. The accompanying condensed consolidated financial statements do not include any adjustments that may be necessary should the Company be unable to continue as a going concern.

          5

      Reverse Share Split
      On June 25, 2024, the Company's shareholders approved an amendment to the Company's articles of incorporation to provide for the share consolidation, or reverse share split, of the Company's issued and outstanding common shares at such a consolidation ratio to be determined by the Board of Directors of the Company in its sole discretion, to permit the Company to satisfy all conditions and necessary regulatory approvals to list the common shares on a U.S. national securities exchange as the Board of Directors of the Company may determine in its sole direction (the "Share Consolidation"). The Board of Directors of the Company approved the Share Consolidation on October 15, 2024, and the Share Consolidation was completed by the Company on October 28, 2024, at the ratio of 1-for-2.
      After the completion of the Share Consolidation, the number of the Company's issued and outstanding common shares decreased from 21,693,560 to 10,846,721. The par value of the Company's common shares remains unchanged at $0 per share after the Share Consolidation.
      Share and per share data presented in these consolidated financial statements