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MIRA PHARMACEUTICALS INC

For the period ended Dec 31, 2023. Filed Apr 1, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 1, 2024

MIRA$0.57+5.6%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

For the fiscal year ended December 31,2023

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to_

Commission file number 001-31361

MIRA Pharmaceuticals, Inc.

(Exact name of registrant as specified in its charter)

Florida85-3354547
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1200 Brickell Avenue, Suite 1950 #1183, Miami, Florida33131
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:786-432-9792

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of exchange on which registered
Common stock, par value $0.0001MIRAThe Nasdaq Capital Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐No ☒

The aggregate market value of the voting and non-voting common equity held by non-affiliates as of June 30, 2023, was $0 based on the closing sale price of the company’s common stock on such date of $0.00 per share, as reported by the NASDAQ Capital Market.

As of March 28, 2024, there were 14,780,885 shares of common stock, par value $0.0001, issued and outstanding.

Mira Pharmaceuticals, Inc.

Annual Report on Form 10-K

For the fiscal year ended December 31, 2023

TABLE OF CONTENTS

Cautionary Note Regarding Forward-Looking Statements1
PART I4
Item 1.Description of Business4
Item 1A.Risk Factors34
Item 1B.Unresolved Staff Comments67
Item 1C.Cyber Disclosure67
Item 2.Description of Property67
Item 3.Legal Proceedings67
Item 4.Mine Safety Disclosure67
PART II68
Item 5.Market for Common Equity and Related Stockholder Matters68
Item 6.Reserved68
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations69
Item 7A.Quantitative and Qualitative Disclosures About Market Risk76
Item 8.Financial Statements76
Item 9.Changes In and Disagreements with Accountants on Accounting and Financial Disclosure76
Item 9A.Controls and Procedures76
Item 9B.Other Information77
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections77
PART III78
Item 10.Directors, Executive Officers and Corporate Governance78
Item 11.Executive Compensation84
Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters93
Item 13.Certain Relationships and Related Transactions, and Director Independence95
Item 14.Principal Accountant Fees and Services97
PART IV98
Item 15.Exhibits, Financial Statement Schedules98
Signatures100

Unless we have indicated otherwise, or the context otherwise requires, references in this Report to “MIRA,” the “Company,” “we,” “us” and “our” or similar terms refer to Mira Pharmaceuticals, Inc., a Florida corporation.

From time to time, we may use our website, our Facebook page at https://www.facebook.com/people/Mira-Pharmaceuticals-Inc/100087641460083, our Twitter at https://twitter.com/PharmaMira and on our LinkedIn account at www.linkedin.com/company/mira-pharmaceuticals-inc to distribute material information. Our financial and other material information is routinely posted to and accessible on the Investors section of our website, available at www.mirapharmaceuticals.com. Investors are encouraged to review the Investors section of our website because we may post material information on that site that is not otherwise disseminated by us. However, information that is contained in and can be accessed through our website, our Facebook page, our Twitter posts and our LinkedIn posts are not incorporated into, and does not form a part of, this Annual Report.

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