# EDGAR Filing Document

**Accession Number:** 0001959708
**File Stem:** 0000000000-23-000669
**Filing Date:** 2023-1
**Character Count:** 10997
**Document Hash:** eeecf740a9e9c8480a19179288c01e34
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-000669.hdr.sgml**: 20230405

**ACCESSION NUMBER**: 0000000000-23-000669

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230120

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Algernon Neuroscience Inc.
- **CENTRAL INDEX KEY:** 0001959708
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 785435413
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 400-601 WEST BROADWAY
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V5Z 4C2
- **BUSINESS PHONE:** (604) 398-4175

**MAIL ADDRESS:**
- **STREET 1:** 400-601 WEST BROADWAY
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V5Z 4C2
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001062993-22-024554

## Text-Extract

```

United States securities and exchange commission logo

                              January 20, 2023

       James Kinley
       Chief Financial Officer
       Algernon Neuroscience Inc.
       401-600 West Broadway
       Vancouver, British Columbia V5Z 4C2

                                                        Re: Algernon
Neuroscience Inc.
                                                            Amendment No. 1 to
Offering Statement on Form 1-A
                                                            Filed on January
19, 2023
                                                            File No. 024-12117

       Dear James Kinley:

             We have reviewed your amended offering statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your offering statement
and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your offering statement and the
information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
January 12, 2023 letter.

       Amendment No. 1 to Offering Statement on Form 1-A

       Index to Financial Statements, page F-1

   1.                                                   Please address the
following regarding your response to our prior comment one, and your
                                                        related reviseed
disclosures:
                                                            Your response does
not adequately explain why the financial statements of the
                                                             registrant is not
required pursuant to paragraph (c)(1)(ii) in Part F/S of Form 1-A, and
                                                             by Article 8 of
Regulation S-X. Therefore, please revise your document to provide
                                                             the audited
financial statements of the registrant for a historical period. Note the
                                                             historical period
subject to audit does not have to be a complete fiscal year if the
                                                             registrant has not
been in existence for a full year.
                                                            Revise your
Capitalization table and Dilution table to present the beginning column
 James Kinley
Algernon Neuroscience Inc.
January 20, 2023
Page 2
              as the historical financial information as of the date of the
registrant's financial
              statements included in your revised document. Provide separate
pro forma
              adjustments to give affect to the acquisition of the DMT program
as well as an
              explanation of those adjustments.

2.       Please address the following regarding your response to our prior
comment two and your
         additional disclosures included on pages 29 and 30:
             Please revise to provide pro forma financial statements giving
effect to the
             acquisition of the DMT program.
             Clearly identify how you are accounting for the transaction.
Notes to Carve-Out Financial Statements
Note 2 Basis of Presentation, page F-10

3.       Please address the following regarding your response to prior comment
three:
             As previously requested, if true, revise your footnotes to
specifically confirm that you
             determined that it was impracticable to prepare the full financial
statements of the
             DMT program required by Regulation S-X, and disclose an
explanation of such
             impracticability in the filing.
             To the extent you are unable to provide such disclosure, carve out
financial
             statements would not be acceptable and the full stand alone
financial statement for
             the DMT program would be required.
4.       As requested in prior comment four, revise your footnotes as well as
the Critical
         Accounting Policies section of the MD&A for DMT Program to clearly
confirm that such
         financial statements reflect all of the revenues and expenses of the
program as well as all
         expenses allocated to the program. Refer to Staff Accounting Bulletin
Topic 1B.1.
9. Subsequent Events, page F-20
FirstName LastNameJames Kinley
5.     We acknowledge your response to our prior comment five. Please revise
your
Comapany    NameAlgernon
       disclosure to clearly Neuroscience  Inc.
                             explain how Algernon Neuroscience accounted for
the acquisition of
       DMT   Program,
January 20, 2023 Page 2 a subsequent  event.
FirstName LastName
 James Kinley
FirstName  LastNameJames
Algernon Neuroscience Inc. Kinley
Comapany
January 20,NameAlgernon
            2023         Neuroscience Inc.
January
Page 3 20, 2023 Page 3
FirstName LastName
       You may contact Ibolya Ignat at 202-551-3636 or Kevin Vaughn at
202-551-3494 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Jimmy McNamara at 202-551-7349 or Joe McCann at 202-551-6262 with any
other
questions.

                                                        Sincerely,

                                                        Division of Corporation
Finance
                                                        Office of Life Sciences
cc:      Stephen Cohen

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

DIVISION OF
CORPORATION FINANCE

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

January 20, 2023

James Kinley
Chief Financial Officer
Algernon Neuroscience Inc.
401-600 West Broadway
Vancouver, British Columbia V5Z 4C2

**Re: Algernon Neuroscience Inc.**
**Amendment No. 1 to Offering Statement on Form 1-A**
**Filed on January 19, 2023**
**File No. 024-12117**

Dear James Kinley:

We have reviewed your amended offering statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by amending your offering statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your offering statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our January 12, 2023 letter.

Amendment No. 1 to Offering Statement on Form 1-A

Index to Financial Statements, page F-1

1. Please address the following regarding your response to our prior comment one, and your related revised disclosures:
- Your response does not adequately explain why the financial statements of the registrant is not required pursuant to paragraph (c)(1)(ii) in Part F/S of Form 1-A, and by Article 8 of Regulation S-X. Therefore, please revise your document to provide the audited financial statements of the registrant for a historical period. Note the historical period subject to audit does not have to be a complete fiscal year if the registrant has not been in existence for a full year.
- Revise your Capitalization table and Dilution table to present the beginning column

James Kinley
Algernon Neuroscience Inc.
January 20, 2023
Page 2

as the historical financial information as of the date of the registrant's financial statements included in your revised document. Provide separate pro forma adjustments to give affect to the acquisition of the DMT program as well as an explanation of those adjustments.

2. Please address the following regarding your response to our prior comment two and your additional disclosures included on pages 29 and 30:
- Please revise to provide pro forma financial statements giving effect to the acquisition of the DMT program.
- Clearly identify how you are accounting for the transaction.

Notes to Carve-Out Financial Statements

Note 2 Basis of Presentation, page F-10

3. Please address the following regarding your response to prior comment three:
- As previously requested, if true, revise your footnotes to specifically confirm that you determined that it was impracticable to prepare the full financial statements of the DMT program required by Regulation S-X, and disclose an explanation of such impracticability in the filing.
- To the extent you are unable to provide such disclosure, carve out financial statements would not be acceptable and the full stand alone financial statement for the DMT program would be required.

4. As requested in prior comment four, revise your footnotes as well as the Critical Accounting Policies section of the MD&A for DMT Program to clearly confirm that such financial statements reflect all of the revenues and expenses of the program as well as all expenses allocated to the program. Refer to Staff Accounting Bulletin Topic 1B.1.

9. Subsequent Events, page F-20

5. We acknowledge your response to our prior comment five. Please revise your disclosure to clearly explain how Algernon Neuroscience accounted for the acquisition of DMT Program, a subsequent event.

James Kinley
Algernon Neuroscience Inc.
January 20, 2023
Page 3

You may contact Ibolya Ignat at 202-551-3636 or Kevin Vaughn at 202-551-3494 if you have questions regarding comments on the financial statements and related matters. Please contact Jimmy McNamara at 202-551-7349 or Joe McCann at 202-551-6262 with any other questions.

Sincerely,

Division of Corporation Finance
Office of Life Sciences

cc: Stephen Cohen