Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 6

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 6
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 to us on favorable
terms, or at all. Further, even if we can raise funds from all of the above sources, the amounts raised may not be sufficient to meet
our future capital requirements.

24

Operating
results may vary significantly in future periods.

Our
operating and financial results are likely to fluctuate significantly in the future. Our operating and financial results are unpredictable
and may fluctuate, for among other reasons, due to:

    ●
    our
    achievement of product development objectives and milestones;

    ●
    clinical
    trial enrollment and expenses;

    ●
    research
    and development expenses; and

    ●
    the
    timing and nature of contract manufacturing and contract research payments.

In
addition, a high portion of our costs are determined on an annual basis, due in part to our significant research and development costs.
Thus, increases in our costs could disproportionately affect financial results in a quarter. Other factors, including non-cash expenses
associated with financing activity, could also lead to fluctuations in our results of operations. Because of these factors, our operating
and financial results in one or more future quarters may fail to meet the expectations of securities analysts or investors, which could
cause our share price to decline.

We
have yet to generate revenues or achieve a profit and may not generate revenue or achieve a profit for many years, if at all.

We
have not yet produced any revenues or profit and may not for many years, if at all. Our ability to generate revenue is dependent on the
receipt of regulatory approval of our product candidates, which will take years to achieve and may not be obtained. We therefore cannot
assure you we will be able to ever generate sufficient revenue to pay for our expenses or achieve profitability. Our ability to continue
as a going concern in the future is dependent upon raising capital from financing transactions and keeping operating expenses below our
revenue levels in order to achieve positive cash flows, none of which can be assured.

Conflicts
of interest may arise between us and MIRALOGX.

MIRALOGX
licenses us the patent pending rights to KETAMIR-2. MIRALOGX is a separate intellectual property development company owned by the Bay
Shore Trust. The Bay Shore Trust is also our largest stockholder. The interests of MIRALOGX are 100% owned by the Bay Shore Trust. Our
relationship with MIRALOGX and the Bay Shore Trust may create, or