Mira Pharmaceuticals Files Q2 2024 10-Q Amendment

TL;DR

Mira Pharma amended its Q2 2024 10-Q. Updated financials filed.

AI Summary

Mira Pharmaceuticals, Inc. filed an amended 10-Q for the period ending June 30, 2024. The filing includes financial data for the second quarter and the first six months of 2024, with comparisons to the same periods in 2023. Key financial statement information such as common stock, additional paid-in capital, and accumulated other comprehensive income are detailed as of March 31, 2024, and March 31, 2023.

Why It Matters

This amended filing provides updated financial information for Mira Pharmaceuticals, crucial for investors and stakeholders to assess the company's performance and financial health.

Risk Assessment

Risk Level: low — This filing is an amendment to a standard quarterly report, primarily containing financial data updates and not indicating new significant risks.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are updated.)
• First six months of 2024 — Reporting Period (Financials for the first half of 2024 are updated.)

Key Players & Entities

• MIRA PHARMACEUTICALS, INC. (company) — Filer and subject of the report
• 20240630 (date) — Period of report
• 20240816 (date) — Filing date
• 001-41765 (other) — SEC file number

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share MIRA The Nasdaq Capital M

Filing Documents

• form10-qa.htm (10-Q/A) — 664KB
• ex10-10.htm (EX-10.10) — 5KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• ex10-10_001.jpg (GRAPHIC) — 814KB
• ex10-10_002.jpg (GRAPHIC) — 793KB
• ex10-10_003.jpg (GRAPHIC) — 839KB
• ex10-10_004.jpg (GRAPHIC) — 271KB
• ex10-10_005.jpg (GRAPHIC) — 109KB
• 0001493152-24-032816.txt ( ) — 6411KB
• mira-20240630.xsd (EX-101.SCH) — 19KB
• mira-20240630_cal.xml (EX-101.CAL) — 27KB
• mira-20240630_def.xml (EX-101.DEF) — 61KB
• mira-20240630_lab.xml (EX-101.LAB) — 155KB
• mira-20240630_pre.xml (EX-101.PRE) — 119KB
• form10-qa_htm.xml (XML) — 263KB

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed 2 Condensed 3 Condensed 4 Notes to Condensed Financial Statements 5 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3. Quantitative and Qualitative Disclosures about Market Risk 14 Item 4. Controls and Procedures 14 Cautionary Note on Forward Looking Statements Part II. Other Information 15 Item 1 Legal Proceedings 15 Item 1A. Risk Factors 15 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3 Defaults upon Senior Securities 16 Item 4 Mine Safety Disclosures 16 Item 5 Other Information 16 Item 6. Exhibits 17

Signatures

Signatures 18 MIRA PHARMACEUTICALS, INC. CONDENSED BALANCE SHEETS AS OF JUNE 30, 2024 AND DECEMBER 31, 2023 June 30, December 31, 2024 (unaudited) 2023 ASSETS Current assets: Cash $ 2,823,781 $ 4,602,566 Other receivables - 11,862 Prepaid expenses 108,622 243,802 Total current assets 2,932,403 4,858,230 Operating lease, right of use assets - 5,061 Due from related parties 83,175 69,152 Total assets $ 3,015,578 $ 4,932,443 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Trade accounts payable and accrued liabilities $ 782,140 $ 538,564 Related party accrued interest 14,472 14,472 Current portion of operating lease liabilities - 5,061 Total current liabilities 796,612 558,097 Total liabilities 796,612 558,097 Stockholders' Deficit Preferred Stock, $ 0.0001 par value, 10,000,000 shares authorized and none issued or outstanding. - - Common Stock, $ 0.0001 par value; 100,000,000 shares authorized, 14,780,885 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. 1,478 1,478 Additional paid-in capital 26,911,646 25,657,930 Accumulated deficit ( 24,694,158 ) ( 21,285,062 ) Total stockholders' equity (deficit) 2,218,966 4,374,346 Total liabilities and stockholders' equity (deficit) $ 3,015,578 $ 4,932,443 See notes to condensed financial statements 1 MIRA PHARMACEUTICALS, INC. CONDENSED FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024 AND 2023 (Unaudited) 2024 2023 2024 2023 Three months ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues $ - $ - $ - $ - Operating costs: General and administrative expenses 1,116,260 1,071,239 2,122,170 1,685,475 Related party travel costs - - - 453,550 Research and development expenses 614,462 ( 101,019 ) 1,376,738 170,587 Total operating costs 1,730,722 970,220 3,498,908 2,309,612 Interest incom

financial statements

financial statements. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report contains "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act) that reflect our current expectations and views of future events. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential", or "continue" or the negative of these terms or other similar expressions. In particular, statements about our pre-clinical and clinical trials and expectations regarding such trials, the markets in which we operate, including growth of such markets, and our expectations, beliefs, plans, strategies, objectives, prospects, assumptions, or future events or performance contained in this Report generally under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" are forward-looking statements. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including those discussed in this Report under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, or could affect our share price. Important factors that could cause actual results or events to differ materially from those expressed in for

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