Business Context and Reporting Period
This Form 8-K filing by MIRA Pharmaceuticals, Inc. (MIRA) was submitted on December 16, 2024, with the report dated December 20, 2024. The filing discloses a change in the company's certifying accountant. MIRA is an emerging growth company incorporated in Florida, with its principal executive offices in Miami.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. The document focuses exclusively on the transition of the independent registered public accounting firm.
Material Changes
The primary material change reported is the resignation of Cherry Bekaert LLP as the Company's independent registered public accounting firm, effective December 16, 2024. Cherry Bekaert had previously issued reports for the fiscal years ended December 31, 2023, and 2022, which included an explanatory paragraph regarding the Company's ability to continue as a going concern. The firm also advised the Company of material weaknesses in its internal control over financial reporting as of December 30, 2023, and 2022. There were no disagreements between the Company and Cherry Bekaert regarding accounting principles or audit scope.
Guidance, Outlook, and Risks
On December 18, 2024, the Company engaged Salberg & Company P.A. as its new independent registered public accountant for the fiscal year ending December 31, 2024. This engagement was recommended by the Audit Committee and approved by the Board of Directors. The filing notes that no consultations occurred with Salberg regarding accounting principles or reportable events prior to this engagement. The continued existence of material weaknesses in internal controls and the going concern qualification noted by the prior auditor represent significant risks to the Company's financial reporting reliability and operational continuity.
Investor Verification Checklist
- Verify the specific nature and remediation status of the material weaknesses in internal control over financial reporting identified by Cherry Bekaert.
- Confirm the details of the "going concern" explanatory paragraph included in the 2022 and 2023 audit reports.
- Review the Company's plan to address liquidity concerns that led to the going concern qualification.
- Monitor future filings for the first audit report issued by Salberg & Company P.A. to assess any changes in audit opinion or internal control assessments.