Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of September 2024

 

Commission file number: 001-41557

 

Clearmind Medicine Inc.

(Translation of registrant’s name into English)

 

101 – 1220 West 6th Avenue

Vancouver, British Columbia
(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒       Form 40-F ☐

 

 

 

 

 

 

CONTENTS

 

On September 16, 2024, the registrant filed in Canada its unaudited condensed interim consolidated financial statements and Management’s Discussion and Analysis for the three and nine months ended July 31, 2024, with the Canadian Securities Administration and each of the Ontario Securities Commission, British Columbia Securities Commission and Alberta Securities Commission.

 

This Report on Form 6-K is incorporated by reference into the Registrant’s Registration Statements on Form F-3 (File No. 333-275991, 333-270859, 333-273293), filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

 

1

 

 

EXHIBIT INDEX

 

Exhibit No.
99.1		Condensed Interim Consolidated Financial Statements for the three and nine months ended July 31, 2024.
99.2		Management’s Discussion and Analysis for the for the three and nine months ended July 31, 2024.
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	Clearmind Medicine Inc.
Date: September 16, 2024	By:	/s/ Adi Zuloff-Shani
		Name:	Adi Zuloff-Shani
		Title:	Chief Executive Officer

 

 

3

 

Exhibit 99.1

 

 

 

 

 

 

CLEARMIND MEDICINE INC.

 

Condensed Interim Consolidated Financial Statements

 

For The Three and Nine Months Ended July 31, 2024

 

(Expressed in United States Dollars)

 

(Unaudited)

 

 

 

 

 

 

 

 

 

CLEARMIND MEDICINE INC. 

Condensed Interim Consolidated Statements of Financial Position

(Expressed in United States Dollars)

(Unaudited)

		July 31,				October 31,
		2024				2023
Assets
Current assets
Cash and cash equivalents		$	7,679,648			$	5,427,739
Other receivables			82,745				104,320
Short-term investment (Note 3)			–				86,112
Prepaid expenses			123,765				40,403
Related parties (Note 4b)			108,597				136,002
Total current assets			7,994,755				5,794,576
Non-current assets
Property and equipment			355				1,727
Intangible assets			111,087				119,310
Restricted cash			7,242				37,675
Right-of-use asset (Note 4c)			59,925				–
Total non-current assets			178,609				158,712
Total assets		$	8,173,364			$	5,953,288
Liabilities
Current liabilities
Accounts payable and accrued liabilities		$	276,744			$	617,004
Due to related parties (Note 4a)			48,577				42,433
Derivative warrant liabilities (Note 5)			4,314,223				4,310,379
Short-term portion of lease liabilities (Note 4c)			35,320				–
Total current liabilities			4,674,864				4,969,816
Non- current liabilities
Long-term lease liabilities (Note 4c)			25,578				–
Total non- current liabilities			25,578				4,969,816
Total liabilities		$	4,700,442			$	4,969,816
Shareholders’ equity
Share capital and share premium (Note 6)			23,800,735				17,131,223
Warrants (Note 7)			459,341				459,341
Share-based payment reserve (Notes 8,9)			2,372,093				2,182,221
Accumulated other comprehensive loss			(21,250	)			(21,250	)
Accumulated deficit			(23,137,997	)			(18,768,063	)
Total shareholders’ equity			3,472,922				983,472
Total liabilities and shareholders’ equity		$	8,173,364			$	5,953,288

 

Approved and authorized for issuance on behalf of the Board of Directors on September 15, 2024:

 

/s/ Alan Rootenberg		/s/ Adi Zuloff-Shani
Alan Rootenberg, CFO		Adi Zuloff-Shani, CEO

 

(The accompanying notes are an integral part of these condensed interim consolidated financial statements) 

 

2

 

 

CLEARMIND MEDICINE INC.

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss

(Expressed in United States Dollars)

(Unaudited)

 

		Three months ended								Nine months ended
		July 31,								July 31,
		2024				2023				2024				2023
Operating expenses
General and administrative		$	1,125,365			$	838,925			$	3,262,427			$	3,422,798
Research and development, net			345,883				263,954				896,317				1,169,156
Total operating expenses			1,471,248				1,102,879				4,158,744				4,591,954
Finance income (expenses)
Changes in fair value of derivative warrant liabilities (Note 5)			(643,225	)			482,331				(83,080	)			121,774
Unrealized gain (loss) on short-term investment (Note 3)			–				(12,222	)			415,826				(70,971	)
Realized loss on short-term investment (Note 3)			–				–				(423,438	)			–
Foreign exchange gain (loss)			(5,380	)			33,645				(2,709	)			(61,711	)
Other finance income, net			85,024				17,307				179,555				41,288
Total finance income (expenses)			(563,581	)			521,061				86,154				30,380
Other income (expenses)
Other expenses			(16,498	)			–				(16,498	)			–
Dividend received			–				–				–				16,555
Total other income (expenses)			(16,498	)			–				(16,498	)			16,555
Loss before taxes			(2,051,327	)			(581,818	)			(4,089,088	)			(4,545,019	)
Tax income (expenses)			(42,590	)			6,631				(280,846	)			(6,019	)
Net Loss and Comprehensive loss		$	(2,093,917	)		$	(575,187	)		$	(4,369,934	)		$	(4,551,038	)
Loss per share, basic and diluted		$	(0.59	)		$	(2.43	)		$	(1.58	)		$	(31.14	)
Weighted average number of shares (*) for the purposes of basic and diluted loss per share			3,559,860				236,295				2,773,384				146,163

 

(*)

On November 28, 2023, the Company effected a 1-for-30 reverse split of its issued and outstanding common shares, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held. All share data prior to the date of the reverse share split has been retrospectively adjusted.

 

(The accompanying notes are an integral part of these condensed interim consolidated financial statements)

 

3

 

 

CLEARMIND MEDICINE INC.

Condensed Interim Statements of Changes in Shareholders’ Equity (Deficit)

(Expressed in United States Dollars)

(Unaudited)

 

		Share capital and share premium												Share-based				Accumulated other								Total shareholders’
		Number of shares (*)				Amount				Warrants				payment reserve				comprehensive income				Accumulated deficit				equity  (deficit)
Balance, October 31, 2023			607,337			$	17,131,223			$	459,341			$	2,182,221			$	(21,250	)		$	(18,768,063	)		$	983,472
Net loss for the period			–				–				–				–				–				(4,369,934	)			(4,369,934	)
Issuance of common shares, pre-funded warrants and warrants (Note 6c(iii))			1,500,000				1,459,815				–				–				–				–				1,459,815
Exercise of warrants (Notes 6c(ii, v, ix))			1,500,274				4,594,808				–				–				–				–				4,594,808
Issuance of common shares upon vesting of restricted share units (Notes 6c(vi, viii, xi))			306,838				511,190				–				(511,190	)			–				–				–
Share-based compensation (Notes 6c (i, iv, vii, ix), 8, 9)			64,794				103,699				–				701,062				–				–				804,761
Balance, July 31, 2024			3,979,243			$	23,800,735			$	459,341			$	2,372,093			$	(21,250	)		$	(23,137,997	)		$	3,472,922
Balance, October 31, 2022			43,992			$	6,706,644			$	459,110			$	1,896,724			$	(21,250	)		$	(10,147,226	)		$	(1,105,998	)
Net loss for the period			–				–				–				–				–				(4,551,038	)			(4,551,038	)
Issuance of common shares			38,462				6,026,327				–				337,579				–				–				6,363,906
Common shares and warrants issued to XYLO TECHNOLOGIES LTD. (formerly Medigus Ltd.)			1,494				296,845				231				–				–				–				297,076
Issuance of common shares, pre-funded warrants and warrants			150,191				1,455,832				–				–				–				–				1,455,832
Issuance of common shares upon vesting of restricted stock units			806				198,265				–				(198,265	)			–				–				–
Share-based compensation			2,330				147,965				–				174,560				–				–				322,525
Balance, July 31, 2023			237,275			$	14,831,878			$	459,341			$	2,210,598			$	(21,250	)		$	(14,698,264	)		$	2,782,303

 

(*)

On November 28, 2023, the Company effected a 1-for-30 reverse split of its issued and outstanding common shares, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held.

 

All share amounts have been retroactively adjusted for all periods presented.

 

(The accompanying notes are an integral part of these condensed interim consolidated financial statements)

 

4

 

 

CLEARMIND MEDICINE INC.

Condensed Interim Consolidated Statements of Cash Flows

(Expressed in United States Dollars)

(Unaudited)

 

		Nine months ended July 31,
		2024				2023
Operating activities
Net loss		$	(4,369,934	)		$	(4,551,038	)
Adjustments for:
Amortization of intangible assets			8,223				12,509
Amortization of right-of-use asset			29,965				35,381
Interest on lease liability			3,924				2,907
Exchange rate differences			2,288				(622	)
Dividend received			–				16,555
Share issuance costs allocated to derivate warrant liability			115,046				–
Depreciation of property and equipment			1,372				5,603
Changes in fair value of derivative warrant liability			83,080				(121,774	)
Share-based compensation			701,374				329,032
Unrealized (gain) loss on short-term investment			(415,826	)			70,971
Realized loss on short-term investment			423,438				–
Tax expenses			39,759				6,019
Changes in working capital:
Decrease (increase) in other receivables			54,820				(153,550	)
Increase in prepaid expenses			(83,380	)			(136,599	)
Decrease in accounts payable and accrued liabilities			(382,275	)			(898,795	)
Increase (decrease) in due to / from related parties			6,612				(164,903	)
Net cash used in operating activities			(3,781,514	)			(5,548,304	)
Investing activities
Proceeds from sale of short-term investment			78,500				–
Restricted Cash			33,803				7,686
Net cash generated in investing activities			112,303				7,686
Financing activities
Proceeds from issuance of common shares and warrants, net of issuance costs (Note 6c (iii))			1,824,773				9,300,048
Proceeds received from issuance of shares			103,387				–
Proceeds received from exercise of warrants (Notes 6c (ii, v, ix))			4,035,568				–
Repayment of lease liabilities			(32,555	)			(40,922	)
Net cash provided by financing activities			5,931,173				9,259,126
Effect of foreign exchange rate changes on cash and cash equivalents			(10,053	)			(26	)
Net increase in cash and cash equivalents			2,251,909				3,718,482
Cash and cash equivalents at beginning of period			5,427,739				128,777
Cash and cash equivalents at end of period		$	7,679,648			$	3,847,259
Supplementary disclosure of cash flow information:
Cash received as interest		$	210,090			$	40,636
Cash paid for taxes			269,007				–
Non-cash financing and investing activities
Derivative liability converted to equity		$	–			$	290,569
Right of use assets obtained in exchange for lease liabilities			181,779				–
Early termination of office lease (Note 4c)			(88,562	)			–

 

5

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

1.	Nature of Operations and Going Concern

 

a.

Clearmind Medicine Inc. (the “Company”) was incorporated in the province of British Columbia on July 18, 2017. The Company is a clinical pharmaceutical company currently engaged in phase I/IIa clinical trials of novel psychedelic medicines that have been developed to solve widespread, yet under-served, health problems. The Company’s head office is located at Suite 101 -1220 West 6th Avenue, Vancouver, BC, V6H 1A5. The Company’s wholly owned Israeli subsidiary (Clearmindmed Ltd.) functions as the research and development arm of the Company.

 

On November 14, 2022, the Company completed a listing on the Nasdaq Capital Market (“Nasdaq”). The Company trades under the symbol “CMND” on the Nasdaq and on the Frankfurt Stock Exchange, (FSE), under the symbol “CWY”. The Company was listed on the Canadian Securities Exchange (“CSE”) in Toronto until March 14, 2024. Following approval for a voluntary delisting, the Company no longer trades on the CSE but remains a reporting issuer in Canada.

  

On January 16, 2024, the Company completed a registered direct and private placement for aggregate gross proceeds of $2.40 million. See note 6(c)(iii).

 

b.

Going concern

 

These condensed interim consolidated financial statements have been prepared on the going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. For the nine months ended July 31, 2024, the Company has not generated any revenues and has negative cash flows from operations of $3,781,514. As of July 31, 2024, the Company has an accumulated deficit of $23,137,997. The continued operations of the Company are dependent on its ability to generate future cash flows or obtain additional financing through debt or equity. Management is of the opinion that sufficient working capital will be obtained from external financing to meet the Company’s liabilities and commitments as they become due, although there is a risk that additional financing will not be available on a timely basis or on terms acceptable to the Company. These factors raise substantial doubt on the Company’s ability to continue as a going concern. These condensed interim consolidated financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern.

 

c.

Reverse share split

 

On November 28, 2023, the Company’s Board of Directors (the “Board”) approved a 1-for-30 reverse split of its issued and outstanding common shares, effective as of November 28, 2023, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held.

 

All issued and outstanding common shares or instruments convertible into common shares contained in these financial statements have been retroactively adjusted to reflect the reverse share split for all periods presented, unless explicitly stated otherwise.

 

d.

On October 7, 2023, an unprecedented attack was launched against Israel by terrorists from the Hamas terrorist organization that infiltrated Israel’s southern border from the Gaza Strip and in other areas within the State of Israel attacking civilians and military targets while simultaneously launching extensive rocket attacks on the Israeli population, which led to the declaration of the ‘Iron Swords’ War (the “War”). The War is on-going as of the issuance date of these financial statements. The Company’s clinical trials, the laboratory that supports such clinical trials and the Contract Research Organization (CRO) are based in Israel. The extent to which the War may impact the Company’s financial condition, results of operations, or liquidity is uncertain, and as of the date of issuance of these consolidated financial statements, the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or an adjustment to the carrying value of the Company’s assets or liabilities as of July 31, 2024.

 

6

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

2.	Material Accounting Policy Information

 

a.

Basis of Presentation

 

The accompanying consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”) on a going concern basis.

 

These condensed interim consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries, Clearmindmed Ltd. and Clearmind Labs Corp. (inactive). All inter-company balances and transactions have been eliminated on consolidation.

 

These condensed interim consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities (including derivatives) which are presented at fair value through profit or loss (“FVTPL”), and are presented in United States dollars, which is the Company’s functional currency.

 

b.

Unaudited Interim Financial Information

 

Certain information and footnote disclosures normally included in financial statements prepared in accordance with IFRS have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed interim consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended October 31, 2023 and the notes thereto (the “2023 Annual Report”).

 

The condensed interim consolidated financial statements have been prepared on the same basis as the 2023 Annual Report. In the opinion of the Company’s management, these condensed interim consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the nine months ended July 31, 2024 are not necessarily indicative of the results for the year ending October 31, 2024, or for any future period.

 

As of July 31, 2024, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 Annual Report except for the following:

 

Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies

 

The Company has adopted the amendments to IAS 1 for the first time in the current year. The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements.

 

The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions that are immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. 

 

7

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

2.	Material Accounting Policy Information (continued)

 

c.

Significant Accounting Estimates and Judgments

 

The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the application of policies and reported amounts of assets, liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

 

Significant Estimates

 

Share-based Compensation

 

Fair values are determined using the Black-Scholes option pricing model. Estimating fair value requires determining the most appropriate valuation model for a grant of equity instruments, which is dependent on the terms and conditions of the grant. Option-pricing models require the use of highly subjective estimates and assumptions including the expected stock price volatility. Changes in the underlying assumptions can materially affect the fair value estimates and, therefore, existing models do not necessarily provide reliable measurement of the fair value of the Company’s stock options.

 

Warrant Liability

 

The Company analyses warrants issued to determine whether they meet the classification as liabilities or equity. Derivative warrant liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations. The Company uses a fair valuation specialist to estimate the value of these instruments using the binomial pricing model.

 

The key assumptions used in the models are the expected future volatility in the price of the Company’s shares, the expected life of the warrants, the risk-free interest rate and the probability of any future adjustment event.

 

Significant Judgments

 

The critical judgments that the Company’s management has made in the process of applying the Company’s accounting policies that have the most significant effect on the amounts recognized in the Company’s consolidated financial statements are as follows:

 

Going Concern

 

The application of the going concern assumption requires management to take into account all available information about the future, which is at least but not limited to, 12 months from the end of the reporting period. The Company is aware that material uncertainties related to events or conditions raise substantial doubt upon the Company’s ability to continue as a going concern.

 

8

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

3.	Short-term Investment

 

Pursuant to the Share Exchange Agreement with XYLO TECHNOLOGIES LTD. (formerly Medigus Ltd.) (“XYLO”), on February 14, 2022, the Company received 27,778 ordinary shares of XYLO. The investment cost of the share was $501,938.

 

During the nine months ended July 31, 2024, the Company sold all its remaining shares of XYLO, for total proceeds of $78,500 and recorded a net realized loss of $7,612.

 

		October 31, 2023				Disposals				Net realized loss				July 31, 2024
XYLO – Shares		$	86,112			$	78,500			$	(7,612	)		$	–

 

		October 31, 2022				Additions				Unrealized loss				October 31, 2023
XYLO – Shares		$	193,750			$	–			$	(107,638	)		$	86,112

 

4.	Related Party Transactions

 

a.

Compensation to key management personnel

 

(i)

The compensation to key management personnel for services they provide to the Company is as follows:

 

		Three months ended				Three months ended				Nine months ended				Nine months ended
		July 31,				July 31,				July 31,				July 31,
		2024				2023				2024				2023
Officers:
Consulting fees		$	86,792			$	98,167			$	335,066			$	318,668
Share based compensation			103,977				31,709				251,717				107,089
		$	190,769			$	129,876			$	586,783			$	425,757
Directors:
Directors’ fees		$	58,538			$	41,022			$	184,063			$	121,998
Share based compensation			101,157				28,558				310,069				106,682
		$	159,695			$	69,580			$	494,132			$	228,680

 

(ii)

Balances with related parties

 

		July 31,				October 31,
		2024				2023
Amounts owed to officers		$	29,625			$	29,666
Amounts owed to directors			18,952				12,767
		$	48,577			$	42,433

 

9

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements 

(Expressed in United States Dollars)

(Unaudited)

 

4.	Related Party Transactions (continued)

 

b.

On March 7, 2022, the Company signed an agreement with SciSparc Ltd (“SciSparc”), pursuant to which the Company and SciSparc agreed to cooperate in conducting a feasibility study using certain molecules developed by each party (the “Cooperation Agreement”). Certain of the Company’s officers and directors currently operate, manage or are engaged as officers and/or directors of SciSparc.   In June 2023, the Company entered into a research agreement with the Hebrew University of Jerusalem to evaluate SciSparc’s and the Company’s combination treatment for obesity and metabolic syndrome.   To date, the collaboration has resulted in the filing of nine patent applications. To the extent the parties determine to proceed to a commercial cooperation, they may enter into a joint venture by the parties share the economics and rights on a 50%-50% basis. To date, no determination has been made to pursue the joint venture as the development of the project remains at a very early stage.   For the three and nine months ended July 31, 2024, the Company incurred research and development expenses conducted within the framework of the Cooperation Agreement in the amount of $4,080 and $26,888, respectively (three and nine months ended July 31, 2023- $126,661 and $126,661, respectively). As of July 31, 2024, $108,597 is owed to the Company by SciSparc (October 31, 2023- $136,002).

  

c.

On December 25, 2023, the Company entered into an agreement with SciSparc for the lease of office space in Tel Aviv, Israel, having a total area of approximately 240 square meters. The Company occupies approximately 120 square meters of the space for its offices. The Company’s base rent was ILS 23,300 per month ($6,500) during the term of the lease. The lease liability was discounted using the Company’s estimated incremental borrowing rate of 10%.   On March 31, 2024, the Company and SciSparc agreed to terminate the lease agreement prior to the initial term of the lease. As a result, the Company paid early termination fees of approximately $13,000 and paid approximately $3,000 to a broker. The loss upon early termination related to this transaction was recorded as other expenses within the Condensed Interim Consolidated Statements of Operations and Comprehensive Loss.   On June 13, 2024, the Company entered into an agreement with SciSparc for the lease of office space in Tel Aviv, Israel, having a total area of approximately 386 square meters. The Company occupies approximately 193 square meters of the space for its offices. The rental period is from April 1, 2024 to March 31, 2026. The Company’s base rent was ILS 12,500 per month ($3,400) during the term of the lease. The lease liability was discounted using the Company’s estimated incremental borrowing rate of 10%.

 

10

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

5.	Derivative warrant liabilities

 

a.

On April 6, 2023, the Company issued 4,505,718 warrants in connection with its April 2023 Public Offering (“April 2023 Warrants”). The warrant includes a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“April 2023 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability and the time of the grant and are revalued at the end of each reporting period. The number of warrants do not change, however, the number of warrant shares issued may change, subject to the adjustment noted above.

 

On January 21, 2024, following the January 2024 Public Offering, which included the offering of common shares at a price lower than the exercise price of the April 2023 Warrants, the exercise price of the April 2023 Warrants was reduced to $1.077, and each April 2023 Warrant became exercisable into 0.724 common shares of the Company. For further details of the ratio of warrant shares issuable and outstanding in relation to the April 2023 Warrants, see detailed table in note 7.

 

During the period between November 29, 2023 and December 5, 2023, 2,729,394 April 2023 Warrants were exercised into 652,521 common shares.

 

During the period between March 8, 2024 and March 22, 2024, 27,793 April 2023 Warrants were exercised into 20,245 common shares.

 

On June 28, 2024, 156,098 April 2023 Warrants were exercised into 112,975 common shares.

 

b.

On September 18, 2023, the Company issued 7,500,000 warrants in connection with its September 2023 Public Offering (“September 2023 Warrants”). The warrant includes a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“September 2023 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability and the time of the grant and are revalued at the end of each reporting period. The number of warrants do not change, however, the number of warrant shares issued may change, subject to the adjustment noted above.

 

On January 21, 2024, following the January 2024 Public Offering, which included the offering of common shares at a price lower than the exercise price of the September 2023 Warrants, the exercise price of the September 2023 Warrants was reduced to $1.077, and each September 2023 Warrant became exercisable into 0.288 common shares of the Company. For further details of the ratio of warrant shares issuable and outstanding in relation to the September 2023 Warrants, see detailed table in note 7.

 

During the period between November 29, 2023 and December 5, 2023, 4,602,916 September 2023 Warrants were exercised into 409,667 common shares.

 

During the period between February 23, 2024 and March 22, 2024, 281,910 September 2023 Warrants were exercised into 81,469 common shares.

 

On June 28, 2024, 182,144 September 2023 Warrants were exercised into 54,877 common shares.

 

11

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

5.	Derivative warrant liabilities (continued)

 

	c.	On January 16, 2024, the Company issued 1,500,000 warrants with an exercise price of $1.60 per warrant in connection with its January 2024 Public Offering (“January 2024 Warrants”). Each warrant includes a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“January 2024 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability at the time of the grant and are revalued at the end of each reporting period.   On February 23, 2024, 30,200 January 2024 Warrants were exercised into 30,200 common shares.   During the period between June 20, 2024 and July 16, 2024, 138,320 January 2024 Warrants were exercised into 138,320 common shares.
	d.	During the three and nine months ended July 31, 2024, the Company recorded a loss on the revaluation of the total derivative warrant liabilities of $643,225 and $83,080, respectively, in the Condensed Interim Consolidated Statements of Operations and Comprehensive Loss.

 

e.

The binomial model was used to measure the derivative warrant liability with the following assumptions:

 

		July 31, 2024
Share Price			$1.66
Exercise Price			$1.077 – $1.60
Expected life			3.68 – 4.46 years
Risk-free interest rate			4.00 – 4.07%
Dividend yield			0.00%
Expected volatility			149.52 – 152.96%

 

f.

The following table presents the changes in the derivative warrant liability during the period:

 

Balance as of November 1, 2022		$	-
Issuance of April 2023 Warrants			1,771,208
Issuance of September 2023 Warrants			923,225
Exercise of warrants			(574,040	)
Change in fair value of warrants			2,189,986
Balance as of October 31, 2023		$	4,310,379
Issuance of January 2024 Warrants			480,004
Exercise of warrants			(559,240	)
Change in fair value of warrants			83,080
Balance as of July 31, 2024		$	4,314,223

 

12

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

6.	Share Capital

 

a.

The Company’s authorized share capital is unlimited common shares without par value share. On November 28, 2023, the Company effected a 1-for-30 share consolidation. All share amounts and instruments convertible into common shares prior to the date of the reverse share split have been retroactively restated for all periods presented.

 

b.

As of July 31, 2024, the number of common shares issued and outstanding was 3,979,243 (October 31, 2023 – 607,337).

 

c.

Share transactions during the nine months ended July 31, 2024:

 

(i)

On November 6, 2023, 45 common shares with a fair value of $117 were issued to providers of investor services in payment of services.

 

(ii)

Between November 29, 2023 and December 5, 2023, April 2023 Warrants and September 2023 Warrants were exercised into 1,062,188 shares, resulting in gross proceeds of $3,498,032.

 

(iii)

On January 16, 2024, the Company completed a registered direct offering and concurrent private placement of (i) 1,468,000 Common Shares, (ii) 32,000 pre-funded warrants to purchase 32,000 Common Shares and (iii) 1,500,000 unregistered common warrants to purchase 1,500,000 Common Shares. The pre-funded warrants are immediately exercisable at an exercise price of $0.0001 per Common Share and will not expire until exercised in full. The unregistered common warrants have an exercise price of $1.60 per Common Share (after giving effect to adjustments and subject to further adjustments as set forth therein), are immediately exercisable, and expire five years from the date of issuance. These warrants include a cashless exercise provision and repricing provisions, under certain circumstances (“the January 2024 Offering”). The gross proceeds from the January 2024 Offering were approximately $2.4 million before deducting estimated offering expenses. Net proceeds from the offering were $1,824,773. On January 17, 2024, the pre-funded warrants were exercised.

 

(iv)

On February 19, 2024, 44 common shares with a fair value of $68 were issued to providers of investor services in payment of services.

 

(v)

During the period between February 23, 2024 and March 2, 2024, April 2023 Warrants, September 2023 Warrants and January 2024 Warrants were exercised into 131,914 shares, for gross proceeds of $157,918.

 

(vi)

On April 3, 2024, 9,000 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $11,935 at the time of issuance.

 

(vii)

On May 9, 2024, 88 common shares with a fair value of $127 were issued to providers of investor services in payment of services.

 

(viii)

On June 17, 2024, 162,970 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $243,003 at the time of issuance.

 

(ix)

During the period between June 20, 2024 and July 16, 2024, April 2023 Warrants, September 2023 Warrants and January 2024 Warrants were exercised into 306,172 shares, for gross proceeds of $402,206.

 

(ix)

On July 4, 2024, 64,617 common shares with a fair value of $103,387 were issued to providers of investor services in payment of services.

 

(xi)

During the period between July 4, 2024 and July 8, 2024, 134,868 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $256,252 at the time of issuance.

 

13

 

 

CLEARMIND MEDICINE INC.

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

6.	Share Capital (continued)

 

d.

Share transactions during the nine months ended July 31, 2023:

 

(i)

On November 14, 2022, the Company completed an underwritten public offering of 38,462 common shares at a price to the public of $195.00 per share, for aggregate gross proceeds of $7.5 million, prior to deducting underwriting discounts and offering expenses. The offering closed on November 17, 2022. Net proceeds from the offering were $6,363,906.

 

In addition, the Company granted Aegis Capital Corp. (“Aegis”), who acted as the underwriters for the deal, a 45-day option to purchase up to 5,769 additional common shares, equal to 15% of the number of common shares sold in the offering solely to cover over-allotments, if any (“Over-Allotment”). The public purchase price per additional common share would have been $195.00 per share. The Over-Allotment was not exercised. 

 

Aegis received 1,923 underwriter warrants, (the “Underwriter Warrants”) each such Underwriter Warrant entitling the agents to receive one common share upon payment of $243.75 per share, exercisable six months after the commencement of sales of this offering and expiring on a date which is no more than five years after the commencement of sales of the offering. The fair value of the Underwriter Warrants of $337,579 were accounted for as an issuance cost within the share-based payment reserve. The fair value of the Underwriter Warrants was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:

 

Risk-free interest rate			1.43	%
Expected life (in years)			5
Expected volatility			150	%

 

In connection with the offering, the Company’s common shares were approved for listing on the Nasdaq and began trading on the Nasdaq (in addition to the CSE) under the symbol “CMND” on November 15, 2022.

 

Following the public offering and pursuant to the XYLO SPA, XYLO was entitled to receive 1,494 common shares and 75 warrants pursuant to an anti-dilution clause included in the agreement signed between the Company and XYLO on June 29, 2022. The anti-dilution feature was recorded as a derivative liability as of October 31, 2022.

 

(ii)

On January 16, 2023, 161 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $39,975 at the time of issuance.

 

On February 22, 2023, 400 common shares were issued in respect of fully vested RSU’s that had been fully vested. The RSU’s had a fair value of $110,096 at the time of issuance.

 

(iii)

On April 6, 2023, the Company completed an underwritten public offering of 103,249 common shares at a price to the public of $23.40 per share and pre-funded warrants to purchase 46,942 common shares at a price to the public of $23.37 per pre-funded warrant (“Pre-Funded Warrants”), for aggregate gross proceeds of $3.5 million (the “April 2023 Public Offering”). The Pre-Funded Warrants were exercisable at $0.03 into one common share, and all the Pre-Funded Warrants were exercised by April 30, 2023. In addition, each April 2023 Public Offering shareholder and each Pre-Funded Warrant holder received a common warrant, which was immediately exercisable, will expire five years from the date of issuance and have an exercise price of $23.40 per common share (“April 2023 Public Offering Warrant”). The April 2023 Public Offering warrants include a cashless exercise provision and repricing provisions under certain circumstances, that also includes a potential change in the number of shares to be issued for each warrant depending on the change in the exercise price of the warrant.

 

Net proceeds from the offering were $2,936,079.

 

(iv)

On May 23, 2023, 239 common shares with a fair value of $27,965 were issued to consultants and 1,494 common shares with a fair value of $110,000 were issued to providers of investor services in respect of services.

(v)

On June 1, 2023, 245 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $48,194 at the time of issuance.

 

(vi)

On July 10, 2023, 597 common shares with a fair value of $10,000 were issued to providers of investor services in respect of services.

 

14

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

7.

Warrants

  

The following table summarizes the changes in the Company’s warrants:

 

		Number of warrants				Historic weighted average exercise price per warrant shares
Balance, October 31, 2022			19,763				576.66
Issuance of underwriter warrants			1,923				243.75
Issuance of April 2023 warrants (*)			4,505,718				5.124
Issuance of September 2023 warrants (**)			7,500,000				9.00
Issuance of XYLO warrants			75				1,297.67
Expiration of warrants			(11,430	)			922.98
Exercise of warrants			(784,584	)			5.124
Balance, October 31, 2023			11,231,465			$	7.90
Number of shares to be issued from the exercise of these warrants			826,781
Balance, October 31, 2023			11,231,465			$	7.90
Issuance of January 2024 warrants (Note 5c)			1,500,000				1.60
Exercise of warrants			(8,148,955	)			2.69
Expiration of warrants			(8,333	)			98.43
Balance, July 31, 2024			4,574,177			$	1.56
Number of shares to be issued from the exercise of these warrants			2,618,903

 

(*)

These warrants convert into 584,545 shares.

 

(**)

These warrants convert into 700,880 shares.

 

As of July 31, 2024, the following warrants were outstanding:

 

Number of warrants outstanding				Number of shares to be issued from the exercise of warrants (warrant shares)				Exercise price per warrant shares				Exercise price per warrant shares (USD)				Expiry date
	1,923				1,923			C$	336.59			$	243.75			November 17, 2027
	807,669				584,545			$	1.077			$	1.077			April 5, 2028
	75				75			C$	1,800			$	1,303.49			November 23, 2024
	2,433,030				700,880			$	1.077			$	1.077			September 17, 2028
	1,331,480				1,331,480			$	1.60			$	1.60			January 15, 2029
	4,574,177				2,618,903

 

15

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements

(Expressed in United States Dollars)

(Unaudited)

 

8.

Stock Options

 

(a)

On November 14, 2023, the shareholders of the Company approved the Omnibus Equity Incentive Plan, or the Omnibus Plan. Pursuant to the Omnibus Plan, the Company is authorized to grant options or restricted share units (“RSUs) to officers, directors, employees and consultants enabling them to acquire, together with” Options”, “Awards” or “Stock Options” as defined, up to 20% of the Company’s issued and outstanding Common Shares (after taking into account existing awards from the Company’s 2021 stock option plan). The Awards can be granted for a maximum of 10 years and vest as determined by the Board.

 

The maximum number of common shares reserved for issuance in any 12-month period to a related party consultant may not exceed 5% of the issued and outstanding common shares at the date of the grant (and may not exceed 15% in total, to all related parties). The maximum number of common shares reserved for issuance in any 12-month period to any investor relations service provider may not exceed 2% of the issued and outstanding common shares at the date of the grant.

 

(b)

The following table summarizes the changes in the Company’s stock options for the periods ended July 31, 2024 and October 31, 2023:

 

		Number of options				Weighted average exercise price (C$)				Weighted average exercise price (USD$)
Outstanding, October 31, 2022			5,254			C$	613.5			$	450.64
Granted			334				442.22				318.81
Outstanding, October 31, 2023			5,588			C$	603.12			$	434.81
Expired			(67	)			720.00				533.14
Outstanding, July 31, 2024			5,521			C$	601.70			$	435.73
Exercisable, July 31, 2024			5,160			C$	603.20			$	436.82

 

16

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements 

(Expressed in United States Dollars)

(Unaudited)

 

8.	Stock Options (continued)

 

(c)

Additional information regarding stock options outstanding as of July 31, 2024, is as follows:

 

Outstanding																Exercisable
Number of stock options				Weighted average remaining contractual life (years)				Weighted average exercise price (C$)				Weighted average exercise price (USD$)				Number of stock options				Weighted average exercise price (C$)				Weighted average exercise price (USD$)
	533				1.82			C$	166.50			$	120.57				533			C$	166.50			$	120.57
	978				7.51				504.00				364.98				858				504.00				364.98
	1,166				1.82				675.00				488.81				1,166				675.00				488.81
	200				4.75				702.00				508.36				192				702.00				508.36
	133				2.14				747.00				540.95				133				747.00				540.95
	422				7.36				612.00				443.19				422				612.00				443.19
	1,044				7.51				720.00				521.40				870				720.00				521.40
	667				1.92				756.00				547.47				667				756.00				547.47
	111				7.36				900.00				651.75				102				900.00				651.75
	61				8.82				315.00				228.11				53				315.00				228.11
	156				8.91				504.00				364.98				143				504.00				364.98
	50				8.94				32.31				23.40				21				32.31				23.40
	5,521				4.91			C$	601.70			$	435.73				5,160			C$	603.20			$	436.82

  

The fair value for stock options previously granted to certain consultants for ongoing services measured during the period have been estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:

 

		Nine months ended July 31, 2024				Nine months ended July 31, 2023
Risk-free interest rate			4.05	%			3.83	%
Expected life (in years)			4.86				5.86
Expected volatility			121.10%-133.14	%			111%-116	%

 

d.

The portion of the total fair value of stock options expensed during the three and nine months ended July 31, 2024, were $14,879 and $71,793, respectively (2023 - $59,513 and $181,448, respectively) which was recorded in share-based compensation expense.

 

17

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements 

(Expressed in United States Dollars)

(Unaudited)

 

9.	Restricted Share Units

 

The following table summarizes the continuity of RSUs:

 

		Number of RSUs				Weighted average issue price (C$)				Weighted average issue price (USD$)
Balance, October 31, 2022			–			$	–			$	–
Granted			2,200				55.97				41.46
Vested			(2,200	)			55.97				41.46
Balance, October 31, 2023			–			$	–			$	–
Granted (i)			476,189				1.85				1.34
Vested			(457,981	)			1.86				1.37
Balance, July 31, 2024			18,208			$	1.52			$	1.10

 

(i)

During the nine months ended July 31, 2024, the Company issued 476,189 RSU’s to consultants, directors and officers. 457,981 RSU’s vested with a fair value of $629,720 (2023-$90,598).

 

18

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements 

(Expressed in United States Dollars)

(Unaudited)

 

10.

Financial Instruments and Risk Management

 

a.

Assets and liabilities measured at fair value on a recurring basis were presented in the Company’s statement of financial position as of July 31, 2024, as follows:

 

		Fair Value Measurements Using
		Quoted prices in active markets for identical instruments (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Balance July 31, 2024
Derivative warrants liability		$	–			$	–			$	4,314,223			$	4,314,223

 

Assets and liabilities measured at fair value on a recurring basis were presented in the Company’s statement of financial position as of October 31, 2023, as follows:

 

		Fair Value Measurements Using
		Quoted prices in active markets for identical instruments (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Balance October 31, 2023
Short-term investment		$	86,112			$	–			$	–			$	86,112
Derivative warrants liability			–				–				4,310,379				4,310,379

 

The fair value of other assets and liabilities, which include cash, amounts receivable, accounts payable and accrued liabilities, and amounts due to related parties, approximate their carrying values due to the relatively short-term maturity of these instruments.

 

b.

Credit Risk

 

Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. The carrying amount of financial assets represents the maximum credit exposure.

 

c.

Foreign Exchange Rate Risk

 

Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that monetary assets and liabilities are denominated in a foreign currency. The Company’s subsidiary operates in Israel and has certain monetary financial instruments denominated in New Israeli Shekel and CAD. The Company has not entered into foreign exchange rate contracts to mitigate this risk.

 

19

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements 

(Expressed in United States Dollars)

(Unaudited)

 

10.

Financial Instruments and Risk Management (continued)

 

c.

Foreign Exchange Rate Risk (continued)

 

The following table indicates the impact of foreign currency exchange risk on net working capital as of July 31, 2024. The table below also provides a sensitivity analysis of a 10% strengthening of the foreign currency against functional currencies identified which would have increased (decreased) the Company’s net loss by the amounts shown in the table below. A 10% weakening of the foreign currency against the functional currencies would have had the equal but opposite effect as of July 31, 2024.

 

Cash and cash equivalents		$	75,440
Other receivables			62,380
Accounts payable and accrued liabilities			(105,839	)
Due to related parties			(38,577	)
Total foreign currency financial assets and liabilities		$	(6,596	)
Impact of a 10% strengthening or weakening of foreign exchange rate		$	(660	)

 

d.

Interest Rate Risk

 

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to significant interest rate risk as it does not have any liabilities with variable rates.

  

e.

Liquidity Risk

 

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s objective to managing liquidity risk is to ensure that it has sufficient liquidity available to meet its liabilities when due. The Company relies on raising debt or equity financing in a timely manner.

 

The following amounts are the contractual maturities of financial liabilities as of July 31, 2024 and October 31, 2023:

 

July 31, 2024		Total				Within 1 year				Within 2-5 years
Accounts payable and accrued liabilities		$	276,744			$	276,744			$	–
Due to related parties			48,577				48,577				–
Lease liability			60,898				35,320				25,578
		$	386,219			$	360,641			$	25,578

 

October 31, 2023		Total				Within 1 year				Within 2-5 years
Accounts payable and accrued liabilities		$	617,004			$	617,004			$	–
Due to related parties			42,433				42,433				–
		$	659,437			$	659,437			$	–

 

20

 

 

CLEARMIND MEDICINE INC. 

Notes to the Condensed Interim Consolidated Financial Statements 

(Expressed in United States Dollars)

(Unaudited)

 

11.	Capital Management

 

The Company manages its capital to maintain its ability to continue as a going concern and to provide returns to shareholders and benefits to other stakeholders. The capital structure of the Company consists of cash and equity comprised of issued share capital, RSU reserve, warrants reserve, and options reserve.

 

The Company manages its capital structure and makes adjustments to it in light of economic conditions. The Company, upon approval from its Board, will balance its overall capital structure through new share issuances or by undertaking other activities as deemed appropriate under the specific circumstances.

 

The Company is not subject to externally imposed capital requirements and the Company’s overall strategy with respect to capital risk management remains unchanged from the nine months ended July 31, 2024.

 

12.	Segmented Information

 

As of July 31, 2024, the Company has one operating segment, being the research and development of novel psychedelic medicine, which takes place primarily in Israel.

 

13.	Commitments

 

a.

On January 15, 2024, the Company signed a long-term licensing agreement with the research & development company of Bar-Ilan University (“BIRAD”), a leading Israeli research center. The licensing agreement refers to the Company’s dedicated treatment for cocaine addiction which previously indicated a significant decrease in cocaine craving. Under this agreement, the Company received a worldwide exclusive license and will pay BIRAD certain milestone payments upon commerciality of the product and royalties of 2.5% for a period of 15 years following the first commercial sale.

 

b.

On March 19, 2024, the Company signed an exclusive patent licensing agreement with Yissum research development company of the Hebrew University of Jerusalem. This agreement provides Clearmind with exclusive global rights to further develop, manufacture, and commercialize innovative compounds invented by Professors Rami Yaka, Ahmed Masaewa and Avi Priel from the Hebrew University. The Company will pay Yissum, royalties of 3% on sales. In addition, the Company will pay an annual license fee of $25,000 for seven years, after which the license fee will increase to $35,000 for three years, and $50,000 for every year thereafter. Finally, the Company will pay Yissum $400,000 upon the first patient enrolled in a Phase III Clinical Trial and $600,000 upon first commercial sale in the US or EU.

 

c.

On Marh 30, 2024, the Company signed an exclusive licensing agreement with Yissum. Under the terms of the agreement, Clearmind receives exclusive worldwide rights to develop, research, manufacture, market, and commercialize products derived from a patent-pending synthesis of psychedelic compounds, enriching the company’s innovative portfolio in addiction and mental health treatments. The Company will pay Yissum royalties of 3% on sales. In addition, the Company will pay an annual license fee of $25,000 for seven years, after which the license fee will increase to $35,000 for three years, and $50,000 for every year thereafter. Finally, the Company will pay Yissum $400,000 upon the first patient enrolled in a Phase III Clinical Trial and $600,000 upon first commercial sale in the US or EU.

 

d.

Respect to the Company’s lease commitment, refer to Note 4c.

 

14.

Subsequent Events

 

On August 12, 2024, April 2023 Warrants and September 2023 Warrants were exercised into 69,592 shares, for gross proceeds of $74,999.

 

 

21

 

Exhibit 99.2

 

 

 

 

 

 

CLEARMIND MEDICINE INC.

 

MANAGEMENT’S DISCUSSION AND ANALYSIS

 

For the Three and Nine Months Ended July 31, 2024

 

(Expressed in United States Dollars)

 

 

 

 

 

 

 

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

This Management’s Discussion and Analysis (“MD&A”) of Clearmind Medicine Inc. (“Clearmind” or the “Company”), prepared as of September 15, 2024, should be read in conjunction with the unaudited condensed interim consolidated financial statements and the notes thereto for the three and nine months ended July 31, 2024 and the Company’s audited consolidated financial statements for the year ended October 31, 2023, all of which were prepared in accordance with International Financial Reporting Standards (“IFRS”). All amounts are expressed in United States dollars unless otherwise indicated.

 

Additional information about the Company is available on SEDAR at www.sedar.com.

 

Cautionary Statement Regarding Forward-Looking Information

 

This MD&A may contain “forward-looking statements” which reflect the Company’s current expectations regarding future results of operations, performance and achievements of the Company. The Company has tried, wherever possible, to identify these forward-looking statements by, among other things, using words such as “anticipate,” “believe,” “estimate,” “expect” and similar expressions. The statements reflect the current beliefs of the management of the Company, and are based on currently available information. Accordingly, these statements are subject to known and unknown risks, uncertainties and other factors, which could cause the actual results, performance, or achievements of the Company to differ materially from those expressed in, or implied by, these statements.

 

The Company undertakes no obligation to publicly update or review the forward-looking statements whether as a result of new information, future events or otherwise.

 

Historical results of operations and trends that may be inferred from the following discussions and analysis may not necessarily indicate future results from operations.

 

Description of Business and Company Overview

 

Corporate Information

 

The Company was incorporated on July 18, 2017, pursuant to the provisions of the Business Corporations Act (British Columbia). The Company’s principal executive offices are located at 101 – 1220 W. 6th Ave, Vancouver, BC V6H1A5 and its operational offices are located at 20 Rahul Wallenberg, Tel Aviv, Israel.

 

On November 14, 2022, the Company completed a listing on the Nasdaq Capital Market (“Nasdaq”). The Company trades under the symbol “CMND” on the Nasdaq and on the Frankfurt Stock Exchange, or FSE, under the symbol “CWY”. The Company was listed on the Canadian Securities Exchange (“CSE”) in Toronto until March 14, 2024. Following approval for a voluntary delisting, the Company no longer trades on the CSE but remains a reporting issuer in Canada.

 

On November 28, 2023, the Company effected a 1-for-30 reverse split of its issued and outstanding common shares, such that each thirty of the Company’s common shares, no par value, were consolidated into one common share, no par value.

 

On January 16, 2024, the Company completed a registered direct and private placement for aggregate gross proceeds of $2.40 million.

 

Company Overview

 

The Company is a clinical pharmaceutical company currently engaged in phase I/IIa clinical trials of novel psychedelic medicines to solve widespread, yet under-served, health problems. The Company’s goal is to develop and provide a new type of treatment for mental health disorders, including AUD, binge drinking and eating disorders, where there is significant unmet need and lack of innovation. The Company sees psychedelic therapies, which previously may have been overlooked or underused, as the future of treatment for a variety of indications. The Company believes that its solution for Alcohol misuse can help solve one of the world’s biggest health problems, which costs the United States alone roughly $250 billion each year.

 

The Company’s flagship treatment and focus for the short term is on AUD, which is incredibly common. It varies from mild to excessive and describes a person’s inability to restrict their alcohol consumption, despite negative social, occupational, or health consequences. Alcohol consumption contributes to 2.6 million deaths each year globally and is one of the leading preventable causes of death in the United States. Apart from potentially changing people’s lives, the Company believes that the Company’s treatment could potentially reduce the amount currently being spent on the consequences of AUD in the United States, Europe, India, China and other countries around the world. The Company also believes that its treatment may address binge drinking. 178,000 people die every year in the United States alone due to binge drinking.

 

The Company has also advanced its proprietary MEAI-based alcohol substitute beverage program by completing most of the pre-clinical studies required for a novel-food application submission according to novel foods and food additives legislation and regulations accepted in many jurisdictions worldwide and entering into a strategic agreement to source global manufacturers and distributors for its MEAI-based alcohol substitute beverages.

 

2

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Significant developments during the period

 

On January 10, 2024, the Company announced that it completed a Type A meeting with the U.S. Food and Drug Administration (FDA) to discuss the Company’s clinical trial of its proprietary MEAI-based, CMND-100 compound, for the treatment of Alcohol Use Disorder treatment (AUD) using its novel psychedelic- based therapy.

 

On January 16, 2024, the Company completed the closing of the sale of Common Shares and Pre-Funded Warrants in a registered direct offering. In a concurrent private placement, the Company also agreed to sell to the same investors, Common Warrants. Aggregate gross proceeds to the Company from both transactions were approximately $2.4 million. The transactions consisted of the sale of an aggregate of 1,500,000 Common Units (or Pre-Funded Units), each consisting of one Common Share or Pre-Funded Warrant and one Common Warrant to purchase one Common Share per warrant at an exercise price of $1.60. The public offering price per Common Unit was $1.60 (or $1.5999 for each Pre-Funded Unit, which is equal to the public offering price per Common Unit sold in the offering minus an exercise price of $0.0001 per Pre-Funded Warrant). The Pre-Funded Warrants were immediately exercisable and may be exercised at any time until exercised in full. For each Pre-Funded Unit sold in the offering, the number of Common Units in the offering decreased on a one-for-one basis. The Common Warrants will be exercisable immediately after registration and expire 60 months after the initial issuance date.

 

On February 1, 2024, the Company announced the signature of a long-term licensing agreement with BIRAD, the research and development company of Bar-Ilan University, a leading Israeli research center. The licensing agreement refers to the Company’s dedicated treatment for cocaine addiction which previously indicated a significant decrease in cocaine craving. Clearmind previously reported positive pre-clinical results for the treatment of cocaine addiction using MEAI, its novel psychedelic molecule. The pre-clinical trial was led by Professor Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center located at Bar-Ilan University (Ramat Gan, Israel), one of the most respected researchers and research institutions in the field of addiction.

 

3

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

On February 5, 2024, the Company announced that it has received patent approval for its psychedelic based treatment of binge behaviors in China by the China National Intellectual Property Administration. The granting of this latest patent establishes both the Company’s patent protection around its flagship molecule as well as its extensive IP protection in the psychedelic space.

 

On February 23, 2024, the Company announced that it has received approval from the Ministry of Health of Israel to commence its phase I/IIa clinical trial for alcohol use disorder (AUD) patients using the Company’s proprietary MEAI-based (5-methoxy-2-aminoindane) CMND-100 oral capsule. The clinical trial is a multinational, multi-center, single and multiple dose tolerability, safety and pharmacokinetic study of CMND-100 in healthy volunteers and AUD subjects. The Israeli study will be led by Prof. Mark Weiser, M.D., head of the Psychiatric Division at the Sheba Medical Center in the Tel Aviv suburb of Ramat Gan.

 

On March 13, 2024, the Company announced that it has received approval for a voluntary delisting of its common shares from the Canadian Securities Exchange (“CSE”). The delisting from the CSE does not affect the Company’s listing on the NASDAQ Capital Market (the “NASDAQ”). The common shares will continue to trade on the NASDAQ under the symbol CMND. The Company believes that the trading volume of its shares on the CSE no longer justified the expenses and administrative efforts required to maintain a dual listing. The Company also believes that the delisting from the CSE will create a central marketplace for its common shares on the NASDAQ, and ultimately benefit the long-term liquidity and shareholder value of the Company. Following delisting from the CSE, Clearmind’s shareholders can trade their common shares through their brokers on NASDAQ. As most brokers in Canada, including many discount and online brokers, have the ability to buy and sell securities listed on NASDAQ, Clearmind’s NASDAQ listing will continue to provide shareholders with the same accessibility to trade the Company’s common shares. Shareholders holding shares in Canadian brokerage accounts should contact their brokers to confirm how to trade Clearmind’s shares on the NASDAQ.

 

4

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

On April 17, 2024, the Company announced that it has signed an exclusive licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem. This partnership marks a significant step in harnessing generation 3.0 psychedelic compounds, methods of their preparation, and uses thereof in the treatment of addiction and mental disorders. Under the terms of the agreement, Clearmind receives exclusive worldwide rights to develop, research, manufacture, market, and commercialize products derived from a patent-pending synthesis of psychedelic compounds, enriching the Company’s innovative portfolio in addiction and mental health treatments.

 

‍On May 7, 2024, the Company announced that it has signed an exclusive patent licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem. This agreement provides Clearmind with exclusive global rights to further develop, manufacture, and commercialize innovative compounds invented by Professors Rami Yaka, Ahmed Masaewa and Avi Priel from the Hebrew University. These novel compounds are targeted at treating post-traumatic stress disorder (PTSD) and other mental health conditions. The global market for PTSD treatment, valued at $16.8 billion in 2023, is expected to reach $27.37 billion by 2033, according to Future Market Insights. Existing treatment options like SSRIs and SNRIs offer limited efficacy and are often accompanied by side effects including nausea, weight gain, sexual dysfunction, insomnia and increased anxiety. Under the terms of the agreement, Clearmind receives exclusive rights to develop, manufacture, and commercialize novel compounds for treating PTSD and other mental health disorders. Clearmind is responsible for the ongoing development and potential commercialization in line with regulatory guidelines. The agreement includes future milestone payments, royalties on future sales, and commitments to safeguard intellectual property rights.

 

On May 10, 2024, the Company announced that it has advanced in its proprietary MEAI-based alcohol substitute beverage program. The Company has completed most of the pre-clinical studies required for a novel-food application submission according to novel foods and food additives legislation and regulations accepted in many jurisdictions worldwide. Clearmind’s alcohol substitute was granted patents in the U.S., India and Europe. This project is being led by former Red Bull Canada and Juul Labs Canada executive, Nicholas Kadysh, serving as an Executive Special Advisor to the Company. According to a report by IWSR, the leader in global beverage alcohol data and insights, no- and low-alcohol consumption across the world’s leading 10 no/low markets, which account for approximately 70% of global no/low-alcohol volumes, grew by +5% in volume in 2023, and the market is now worth over $13 billion. The no/low alcohol category is forecast to grow at a volume CAGR of +6% between 2023 and 2027, led by no-alcohol at +7%, with low-alcohol expanding by +3% over the same timescale. In July 2024, the Company announced a strategic engagement to source global manufacturers and distributors for its MEAI-based alcohol substitute beverages.

 

On July 16, 2024, the Company announced that the FDA cleared the Company’s Investigational New Drug (IND) application for its proprietary MEAI-based CMND-100 oral capsule, allowing the Company to proceed with a Phase I/IIa clinical trial in the United States for treating patients with AUD. This announcement followed the Company announcement in February 2023 that it received approval from the Israeli Ministry of Health to commence the Phase I/IIa clinical trial in Israel for AUD. The Phase I/IIa clinical trial is a multinational, multi-center, single and multiple dose, tolerability, safety and pharmacokinetic trial of CMND-100 in healthy volunteers and AUD subjects. The Company has signed agreements to perform the Phase I/IIa clinical trial in leading universities in the United States, Yale School of Medicine’s and the Johns Hopkins University School of Medicine. The Israeli trial will be conducted at the IMCA in the Tel Aviv suburb of Ramat Gan. The primary endpoint of the Phase I/IIa clinical trial is to find the tolerable dose and characterize the safety and pharmacokinetics / pharmacodynamics of single and repeated doses of CMND-100 in healthy subjects and those with AUD. The secondary endpoint is to evaluate preliminary efficacy of CMND-100 in reduction of drinking patterns and cravings in individuals with moderate-to-severe AUD. Oral capsules will be administered and subjects treated by these oral capsules will report their drinking patterns and cravings for alcohol during the clinical trial.

 

5

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Prior Use of Proceeds Disclosure

 

The table below describes the difference between the Company’s anticipated use of proceeds from public offerings completed since November 2022, as disclosed in previous news releases. The table shows the amounts actually spent for the period from November 1, 2022, through to July 31, 2024. The variances noted below do not have a material impact on the Company’s ability to achieve its business objectives and milestones. The table below does not include proceeds received from the exercise of warrants.

 

Use of Available Funds		Disclosure Regarding Use of Proceeds (USD)		Spent through to July 31, 2024 (USD)
November 2022 public offering:
To advance the formulation and clinical development efforts in our MEAI patented compounds (completed);		1.5 million		1.5 million
To complete the pre-IND enabling studies and IND submission (completed)		1.0 million		1.0 million
To complete planned Phase I/IIa studies		3.5 million		0.65 million
The remainder for working capital and general corporate purposes and possible in-licensing of intellectual property for new product candidates		0.4 million		0.4 million
April 2023 Public Offering
General corporate purposes, which may include operating expenses, research and development, including clinical and pre-clinical testing of our product candidates, working capital, future acquisitions and general capital expenditures		2.9 million		2.9 million
September 2023 Public Offering
For general corporate purposes, which may include operating expenses, research and development, including clinical and pre-clinical testing of its product candidates, working capital, future acquisitions and general capital expenditures.		2.25 million		0.53 million
January 2024 Public Offering
For general corporate purposes and working capital.		2.4 million		0.6 million

 

6

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Selected Financial Information

 

The following financial data prepared in accordance with IFRS in United States dollars is presented for the three- and nine-month period ended July 31, 2024 and 2023.

 

		Three months ended								Nine months ended
		July 31,								July 31,
		2024				2023				2024				2023
Operating expenses
General and administrative		$	1,125,365			$	838,925			$	3,262,427			$	3,422,798
Research and development, net			345,883				263,954				896,317				1,169,156
Total operating expenses			1,471,248				1,102,879				4,158,744				4,591,954
Finance income (expenses)
Changes in fair value of derivative warrant liabilities			(643,225	)			482,331				(83,080	)			121,774
Unrealized gain (loss) on short-term investment			–				(12,222	)			415,826				(70,971	)
Realized loss on short-term investment			–				–				(423,438	)			–
Foreign exchange gain (loss)			(5,380	)			33,645				(2,709	)			(61,711	)
Other finance income, net			85,024				17,307				179,555				41,288
Total finance income (expenses)			(563,581	)			521,061				86,154				30,380
Other income (expenses)
Other expenses			(16,498	)			–				(16,498	)			–
Dividend received			–				–				–				16,555
Total other income (expenses)			(16,498	)			–				(16,498	)			16,555
Loss before taxes			(2,051,327	)			(581,818	)			(4,089,088	)			(4,545,019	)
Tax income (expenses)			(42,590	)			6,631				(280,846	)			(6,019	)
Net Loss and Comprehensive loss		$	(2,093,917	)		$	(575,187	)		$	(4,369,934	)		$	(4,551,038	)

 

Three-month period ended July 31, 2024, compared to the three-month period ended July 31, 2023

 

Research Costs

 

Research costs are comprised primarily of (i) pre-clinical trials and (ii), regulatory professional and other expenses.

 

For the three-month period ended July 31, 2024, research costs amounted to $345,883 as compared to $263,954 for the three-month period ended July 31, 2023.

 

During the mentioned period, most of our R&D activity revolved around our upcoming clinical trial.

 

General and Administrative Expenses

 

For the three-month period ended July 31, 2024, general and administrative expenses amounted to $1,125,365 as compared to $838,925 for the three-month period ended July 31, 2023. The primary reason for the increase in 2024 is due to the increase in share based compensation, and to a lesser extent to an increase in professional fees.

 

Finance income (expenses)

 

For the three-month period ended July 31, 2024, financial expenses amounted to $(563,581) as compared to financial income of $521,061 for the three-month period ended July 31, 2023. The financial expenses during the three-month period ended July 31, 2024, consist of change in warrant liability of $(643,225), foreign exchange loss of $(5,380) and finance income, net of $85,024.

 

Loss for the period

 

The Company reported a loss for the three-month period ended July 31, 2024, of $2,093,917 as compared to a loss of $575,187 for the three-month period ended July 31, 2023.

 

7

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Nine-month period ended July 31, 2024, compared to the nine-month period ended July 31, 2023

 

Research Costs

 

Research costs are comprised primarily of (i) pre-clinical trials and (ii), regulatory professional and other expenses.

  

For the nine-month period ended July 31, 2024, research costs amounted to $896,317 as compared to $1,169,156 for the nine-month period ended July 31, 2023.

 

During the mentioned period, most of our R&D activity revolved around our upcoming clinical trial. The decrease in activities compare to the prior period results from the large expenses incurred to complete our pre-clinical program.

 

General and Administrative Expenses

 

For the nine-month period ended July 31, 2024, general and administrative expenses amounted to $3,262,427 as compared to $3,422,798 for the nine-month period ended July 31, 2023. The primary reason for decrease in 2024 is due to decrease in amounts spent on investor relations compared to the prior period.

 

Finance income (expenses)

 

For the nine-month period ended July 31, 2024, financial income amounted to $86,154 as compared to financial income of $30,380 for the nine-month period ended July 31, 2023. The financial income during the nine-month period ended July 31, 2024, consist of change in warrant liability of $(83,080), foreign exchange loss of $(2,709), unrealized gain on short-term investment of $415,826, realized loss on short-term investment of $(423,438) and finance income, net of $179,555.

 

Loss for the period

 

The Company reported a loss for the nine-month period ended July 31, 2024, of $4,369,934 as compared to a loss of $4,551,038 for the nine-month period ended July 31, 2023.

 

Financial Summary of Quarterly Results

 

The following is a summary of the Company’s financial results for the eight most recently completed quarters.

 

		July 31, 2024				April 30, 2024				January 31, 2024				October 31, 2023
Total revenues		$	–			$	–			$	–			$	–
Net loss			(2,093,917	)			(908,217	)			(1,367,800	)			(4,069,799	)
Net profit (loss) per share, basic and diluted			(0.59	)			(0.28	)			(0.90	)			1.27

 

		July 31, 2023				April 30, 2023				January 31, 2023				October 31, 2022
Total revenues		$	–			$	–			$	–			$	–
Net loss			(575,187	)			(2,076,382	)			(1,899,469	)			(1,554,176	)
Net loss per share, basic and diluted			(2.43	)			(16.62	)			(24.80	)			(35.51	)

 

Factors causing significant variations in quarterly results are as follows:

 

●

The increase in loss for the quarter ended October 31, 2022, was primarily due to an increase in research and development expenditures.

 

●

The increase in loss for the quarter ended January 31, 2023, was primarily due to an increase in general and administrative costs.

 

●

The increase in loss for the quarter ended April 30, 2023, was primarily due to an increase in financial expenses relating to the change in fair value of the warrant liability of $360,557.

 

●

The decrease in loss for the quarter ended July 31, 2023, was primarily due to a gain on the revaluation of the total warrant liability of $482,331.

 

8

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

●

The increase in loss for the quarter ended October 31, 2023, was primarily due to a loss on the revaluation of the total warrant liability of $2,189,986.

 

●

The decrease in loss for the quarter ended January 31, 2024, was primarily due to a gain on the revaluation of the total warrant liability of $155,143.

 

●

The decrease in loss for the quarter ended April 30, 2024, was primarily due to a gain on the revaluation of the total warrant liability of $405,002.

 

●

The increase in loss for the quarter ended July 31, 2024, was primarily due to a loss on the revaluation of the total warrant liability of $643,225.

 

Liquidity and Capital Resources

 

As of July 31, 2024, the Company had cash on hand of $7,679,648 and working capital of $3,319,891, compared to $5,427,739 and working capital of $824,760 as of October 31, 2023, respectively. During the nine-month period ended July 31, 2024, the Company’s overall position of cash increased by $2,251,909 from the year ended October 31, 2023. This increase in cash can be attributed to the following:

 

●

The Company’s net cash used in operating activities during the nine-month period ended July 31, 2024, was $3,781,514 as compared to $5,548,304 for the nine-month period ended July 31, 2023. This decrease is mostly due to a decrease in expenditures on operating activities after adjusting for non-cash items, and changes in prepaid expenses, receivables, accounts payable and accrued liabilities and amounts due to/from related parties.

 

●

Net cash generated from investing activities - being proceeds from the sale of a short-term investment- for the nine -month period ended July 31, 2024, was $112,303 as compared to $7,686 for the nine-month period ended July 31, 2023.

 

●

Net cash provided from financing activities for the nine -month period ended July 31, 2024, was $5,931,173 as compared to $9,259,126 for the nine-month period ended July 31, 2023. Cash provided in 2024 was from the January 2024 Public Offering and from exercise of warrants. In 2023 the cash was provided from the November 2022 Public Offering and the April 2023 Public Offering.

 

The Company anticipates that its cash and cash equivalents will provide sufficient liquidity for at least twelve months, however, the Company may have capital requirements in excess of its currently available resources in order to advance all it its programs. The actual amount of cash that the Company will need to operate is subject to many factors, including, but not limited to, the timing, design and conduct of clinical trials. The Company is dependent upon significant future financing to provide the cash necessary to execute its current operations, including the possible future commercialization of any of its drug candidates, subject to regulatory approval. 

 

In the event the Company’s plans change, its assumptions change or prove inaccurate, or its capital resources in addition to projected cash flow, if any, prove to be insufficient to fund operations, the Company may be required to seek additional financing. There can be no assurance that the Company will have sufficient financing to meet its future capital requirements or that additional financing will be available on terms acceptable to the Company in the future.

 

Capital Management

 

The Company manages its capital to maintain its ability to continue as a going concern and to provide returns to shareholders and benefits to other stakeholders. The capital structure of the Company consists of cash and equity comprised of issued capital, shares issuable, warrants reserve and share-based payment reserve.

 

The Company manages its capital structure and makes adjustments to it in light of economic conditions. The Company, upon approval from its Board of Directors, will balance its overall capital structure through new share issuances or by undertaking other activities as deemed appropriate under the specific circumstances.

 

The Company is not subject to externally imposed capital requirements and the Company’s overall strategy with respect to capital risk management remains unchanged from the year ended October 31, 2023.

 

Off Balance Sheet Arrangements

 

There are no off-balance sheet arrangements to which the Company is committed.

 

9

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Transactions With Related Parties

 

a.

Compensation to key management personnel

 

(i)

The compensation to key management personnel for services they provide to the Company is as follows:

 

		Three months ended				Three months ended				Nine months ended				Nine months ended
		July 31,				July 31,				July 31,				July 31,
		2024				2023				2024				2023
Officers:
Consulting fees		$	86,792			$	98,167			$	335,066			$	318,668
Share based compensation			103,977				31,709				251,717				107,089
		$	190,769			$	129,876			$	586,783			$	425,757
Directors:
Directors’ fees		$	58,538			$	41,022			$	184,063			$	121,998
Share based compensation			101,157				28,558				310,069				106,682
		$	159,695			$	69,580			$	494,132			$	228,680

 

(ii)

Balances with related parties

 

		July 31,				October 31,
		2024				2023
Amounts owed to officers		$	29,625			$	29,666
Amounts owed to directors			18,952				12,767
		$	48,577			$	42,433

 

b.

On March 7, 2022, the Company signed an agreement with SciSparc Ltd (“SciSparc”), pursuant to which the Company and SciSparc agreed to cooperate in conducting a feasibility study using certain molecules developed by each party (the “Cooperation Agreement”). Certain of the Company’s officers and directors currently operate, manage or are engaged as officers and/or directors of SciSparc.   In June 2023, the Company entered into a research agreement with the Hebrew University of Jerusalem to evaluate SciSparc’s and the Company’s combination treatment for obesity and metabolic syndrome.   To date, the collaboration has resulted in the filing of nine patent applications. To the extent the parties determine to proceed to a commercial cooperation, they may enter into a joint venture by the parties share the economics and rights on a 50%-50% basis. To date, no determination has been made to pursue the joint venture as the development of the project remains at a very early stage.   For the three and nine months ended July 31, 2024, the Company incurred research and development expenses conducted within the framework of the Cooperation Agreement in the amount of $4,080 and $26,888, respectively (three and nine months ended July 31, 2023- $126,661 and $126,661, respectively). As of July 31, 2024, $108,597 is owed to the Company by SciSparc (October 31, 2023- $136,002).

 

c.

On December 25, 2023, the Company entered into an agreement with SciSparc for the lease of office space in Tel Aviv, Israel, having a total area of approximately 240 square meters. The Company occupies approximately 120 square meters of the space for its offices. The Company’s base rent was ILS 23,300 per month ($6,500) during the term of the lease. The lease liability was discounted using the Company’s estimated incremental borrowing rate of 10%.   On March 31, 2024, the Company and SciSparc agreed to terminate the lease agreement prior to the initial term of the lease. As a result, the Company paid early termination fees of approximately $13,000 and paid approximately $3,000 to a broker. The loss upon early termination related to this transaction was recorded as other expenses within the Condensed Interim Consolidated Statements of Operations and Comprehensive Loss.   On June 13, 2024, the Company entered into an agreement with SciSparc for the lease of office space in Tel Aviv, Israel, having a total area of approximately 386 square meters. The Company occupies approximately 193 square meters of the space for its offices. The rental period is from April 1, 2024 to March 31, 2026. The Company’s base rent was ILS 12,500 per month ($3,400) during the term of the lease. The lease liability was discounted using the Company’s estimated incremental borrowing rate of 10%.

 

10

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Financial Instruments and Risk Management

 

(a)	Fair Values

 

Assets and liabilities measured at fair value on a recurring basis were presented on the Company’s statement of financial position as of July 31, 2024, as follows:

 

		Fair Value Measurements Using
		Quoted prices in active markets for identical instruments (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Balance July 31, 2024
Derivative warrants liability		$	–			$	–			$	4,314,223			$	4,314,223

 

Assets and liabilities measured at fair value on a recurring basis were presented on the Company’s statement of financial position as of October 31, 2023, as follows: 

 

		Fair Value Measurements Using
		Quoted prices in active markets for identical instruments (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Balance October 31, 2023
Short-term investment		$	86,112			$	–			$	–			$	86,112
Derivative warrants liability			–				–				4,310,379				4,310,379

 

The fair values financial instruments, which include cash, amounts receivable, accounts payable and accrued liabilities, and amounts due to related parties, approximate their carrying values due to the relatively short-term maturity of these instruments.

 

(b)	Credit Risk

 

Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. The carrying amount of financial assets represents the maximum credit exposure.

 

(c)	Foreign Exchange Rate Risk

 

Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that monetary assets and liabilities are denominated in a foreign currency. The Company’s subsidiary operates in Israel and has certain monetary financial instruments denominated in New Israeli Shekel and CAD. The Company has not entered into foreign exchange rate contracts to mitigate this risk.

 

The following table indicates the impact of foreign currency exchange risk on net working capital as at July 31, 2024. The table below also provides a sensitivity analysis of a 10% strengthening of the foreign currency against functional currencies identified which would have increased (decreased) the Company’s net loss by the amounts shown in the table below. A 10% weakening of the foreign currency against the functional currencies would have had the equal but opposite effect as of July 31, 2024.

 

Cash and cash equivalents		$	75,440
Other receivables			62,380
Accounts payable and accrued liabilities			(105,839	)
Due to related parties			(38,577	)
Total foreign currency financial assets and liabilities		$	(6,596	)
Impact of a 10% strengthening or weakening of foreign exchange rate		$	(660	)

 

11

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

(d)	Interest Rate Risk

 

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to significant interest rate risk as it does not have any liabilities with variable rates.

 

(e)	Liquidity Risk

 

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s objective to managing liquidity risk is to ensure that it has sufficient liquidity available to meet its liabilities when due. The Company relies on raising debt or equity financing in a timely manner.

 

The following amounts are the contractual maturities of financial liabilities as of July 31, 2024, and October 31, 2023:

  

July 31, 2024		Total				Within 1 year				Within 2-5 years
Accounts payable and accrued liabilities		$	276,744			$	276,744			$	–
Due to related parties			48,577				48,577				–
Lease liability			60,898				35,320				25,578
		$	386,219			$	360,641			$	25,578

 

October 31, 2023		Total				Within 1 year				Within 2-5 years
Accounts payable and accrued liabilities		$	617,004			$	617,004			$	–
Due to related parties			42,433				42,433				–
		$	659,437			$	659,437			$	–

 

Accounting Standards Issued But Not Yet Effective

 

A number of new standards, and amendments to standards and interpretations, are not yet effective for the nine months ended July 31, 2024, and have not been early adopted in preparing these condensed interim consolidated financial statements. These new standards, and amendments to standards and interpretations are either not applicable or are not expected to have a significant impact on the Company’s condensed interim consolidated financial statements.

 

Significant Accounting Estimates and Judgments

 

The preparation of condensed interim consolidated financial statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the application of policies and reported amounts of assets, liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

 

12

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Significant Estimates

 

Share-based Compensation

 

Fair values are determined using the Black-Scholes option pricing model. Estimating fair value requires determining the most appropriate valuation model for a grant of equity instruments, which is dependent on the terms and conditions of the grant. Option-pricing models require the use of highly subjective estimates and assumptions including the expected stock price volatility. Changes in the underlying assumptions can materially affect the fair value estimates and, therefore, existing models do not necessarily provide reliable measurement of the fair value of the Company’s stock options.

 

Warrant Liability

 

The Company analyses warrants issued to determine whether they meet the classification as liabilities or equity. Derivative warrant liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations. The Company uses a fair valuation specialist to estimate the value of these instruments using the binomial pricing model.

 

The key assumptions used in the models are the expected future volatility in the price of the Company’s shares, the expected life of the warrants, the risk-free interest rate and the probability of any future adjustment event.

 

Significant Judgments

 

The critical judgments that the Company’s management has made in the process of applying the Company’s accounting policies that have the most significant effect on the amounts recognized in the Company’s consolidated financial statements are as follows:

 

Going Concern

 

The application of the going concern assumption which requires management to take into account all available information about the future, which is at least but not limited to, 12 months from the year end of the reporting period. The Company is aware that material uncertainties related to events or conditions may cast significant doubt upon the Company’s ability to continue as a going concern.

 

Disclosure of Outstanding Share Data

 

Authorized share capital consists of unlimited number of common shares without par value.

 

As of July 31, 2024, and September 15, 2024, the Company had 3,979,243 and 4,056,335 common shares issued and outstanding, respectively.

 

As of July 31, 2024, and September 15, 2024, the Company had 5,521 stock options outstanding.

 

As of July 31, 2024, and September 15, 2024, the Company had 2,618,903 and 2,549,311 warrants outstanding, respectively.

 

As of July 31, 2024, and September 15, 2024, the Company had 171,570 and 164,070 RSU’s outstanding, respectively.

 

13

 

 

CLEARMIND MEDICINE INC.

Management’s Discussion and Analysis

For the Three and Nine Months Ended July 31, 2024

 

Risks and Uncertainties

 

The Company business, and investing in the Company’s securities, are subject to numerous risks, as more fully described in the section entitled “Risk Factors” beginning on page 9 and other risk factors contained in the Company’s Annual Information Form filed in SEDAR on December 1, 2022. If any of these risks actually occur, the Company’s business, financial condition or results of operations would likely be materially adversely affected. In each case, the trading price of the Company’s securities would likely decline, and investors may lose all or part of their investment. The following is a summary of some of the principal risks the Company faces:

 

●

The Company has incurred losses since its inception. The Company anticipated that it will incur significant losses for the foreseeable future, and the Company may never achieve or maintain profitability.

 

●

The Company’s financial statements contain an explanatory paragraph regarding substantial doubt about the Company’s ability to continue as a going concern.

 

●

If the Company is unable to establish sales and marketing capabilities or enter into agreements to sell and market any product candidates, the Company may not be successful in commercializing those product candidates.

 

●

If the Company is unable to maintain effective proprietary rights for the Company’s product candidates or any future product candidates, the Company may not be able to compete effectively in its markets.

 

 

14

 

Document And Entity Information	9 Months Ended
	Jul. 31, 2024
Document Information Line Items
Entity Registrant Name	Clearmind Medicine Inc.
Document Type	6-K
Current Fiscal Year End Date	--10-31
Amendment Flag	false
Entity Central Index Key	0001892500
Document Period End Date	Jul. 31, 2024
Entity File Number	001-41557

Condensed Interim Consolidated Statements of Financial Position (Unaudited) - USD ($)	Jul. 31, 2024	Oct. 31, 2023
Current assets
Cash and cash equivalents	$ 7,679,648	$ 5,427,739
Other receivables	82,745	104,320
Short-term investment (Note 3)		86,112
Prepaid expenses	123,765	40,403
Related parties (Note 4b)	108,597	136,002
Total current assets	7,994,755	5,794,576
Non-current assets
Property and equipment	355	1,727
Intangible assets	111,087	119,310
Restricted cash	7,242	37,675
Right-of-use asset (Note 4c)	59,925
Total non-current assets	178,609	158,712
Total assets	8,173,364	5,953,288
Current liabilities
Accounts payable and accrued liabilities	276,744	617,004
Due to related parties (Note 4a)	48,577	42,433
Derivative warrant liabilities (Note 5)	4,314,223	4,310,379
Short-term portion of lease liabilities (Note 4c)	35,320
Total current liabilities	4,674,864	4,969,816
Non- current liabilities
Long-term lease liabilities (Note 4c)	25,578
Total non- current liabilities	25,578	4,969,816
Total liabilities	4,700,442	4,969,816
Shareholders’ equity
Share capital and share premium (Note 6)	23,800,735	17,131,223
Warrants (Note 7)	459,341	459,341
Share-based payment reserve (Notes 8,9)	2,372,093	2,182,221
Accumulated other comprehensive loss	(21,250)	(21,250)
Accumulated deficit	(23,137,997)	(18,768,063)
Total shareholders’ equity	3,472,922	983,472
Total liabilities and shareholders’ equity	$ 8,173,364	$ 5,953,288

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Operating expenses
General and administrative		$ 1,125,365	$ 838,925	$ 3,262,427	$ 3,422,798
Research and development, net		345,883	263,954	896,317	1,169,156
Total operating expenses		1,471,248	1,102,879	4,158,744	4,591,954
Finance income (expenses)
Changes in fair value of derivative warrant liabilities (Note 5)		(643,225)	482,331	(83,080)	121,774
Unrealized gain (loss) on short-term investment (Note 3)			(12,222)	415,826	(70,971)
Realized loss on short-term investment (Note 3)				(423,438)
Foreign exchange gain (loss)		(5,380)	33,645	(2,709)	(61,711)
Other finance income, net		85,024	17,307	179,555	41,288
Total finance income (expenses)		(563,581)	521,061	86,154	30,380
Other income (expenses)
Other expenses		(16,498)		(16,498)
Dividend received					16,555
Total other income (expenses)		(16,498)		(16,498)	16,555
Loss before taxes		(2,051,327)	(581,818)	(4,089,088)	(4,545,019)
Tax income (expenses)		(42,590)	6,631	(280,846)	(6,019)
Net Loss and Comprehensive loss		$ (2,093,917)	$ (575,187)	$ (4,369,934)	$ (4,551,038)
Loss per share, basic (in Dollars per share)		$ (0.59)	$ (2.43)	$ (1.58)	$ (31.14)
Weighted average number of shares for the purposes of basic loss per share (in Shares)	[1]	3,559,860	236,295	2,773,384	146,163
[1] On November 28, 2023, the Company effected a 1-for-30 reverse split of its issued and outstanding common shares, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held. All share data prior to the date of the reverse share split has been retrospectively adjusted.

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares		3 Months Ended		9 Months Ended
		Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Profit or loss [abstract]
Loss per share, diluted		$ (0.59)	$ (2.43)	$ (1.58)	$ (31.14)
Weighted average number of shares for the purposes of diluted loss per share	[1]	3,559,860	236,295	2,773,384	146,163
[1] On November 28, 2023, the Company effected a 1-for-30 reverse split of its issued and outstanding common shares, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held. All share data prior to the date of the reverse share split has been retrospectively adjusted.

Condensed Interim Statements of Changes in Shareholders’ Equity (Deficit) (Unaudited) - USD ($)		Share capital and share premium	Warrants	Share-based payment reserve	Accumulated other comprehensive income	Accumulated deficit	Total
Balance at Oct. 31, 2022		$ 6,706,644	$ 459,110	$ 1,896,724	$ (21,250)	$ (10,147,226)	$ (1,105,998)
Balance (in Shares) at Oct. 31, 2022	[1]	43,992
Net loss for the period						(4,551,038)	(4,551,038)
Issuance of common shares		$ 6,026,327		337,579			6,363,906
Issuance of common shares (in Shares)	[1]	38,462
Common shares and warrants issued to XYLO TECHNOLOGIES LTD. (formerly Medigus Ltd.)		$ 296,845	231				297,076
Common shares and warrants issued to XYLO TECHNOLOGIES LTD. (formerly Medigus Ltd.) (in Shares)	[1]	1,494
Issuance of common shares, pre-funded warrants and warrants		$ 1,455,832					1,455,832
Issuance of common shares, pre-funded warrants and warrants (in Shares)	[1]	150,191
Issuance of common shares upon vesting of restricted stock units		$ 198,265		(198,265)
Issuance of common shares upon vesting of restricted stock units (in Shares)	[1]	806
Share-based compensation		$ 147,965		174,560			322,525
Share-based compensation (in Shares)	[1]	2,330
Balance at Jul. 31, 2023		$ 14,831,878	459,341	2,210,598	(21,250)	(14,698,264)	2,782,303
Balance (in Shares) at Jul. 31, 2023	[1]	237,275
Balance at Oct. 31, 2023		$ 17,131,223	459,341	2,182,221	(21,250)	(18,768,063)	983,472
Balance (in Shares) at Oct. 31, 2023	[1]	607,337
Net loss for the period						(4,369,934)	(4,369,934)
Issuance of common shares, pre-funded warrants and warrants		$ 1,459,815					1,459,815
Issuance of common shares, pre-funded warrants and warrants (in Shares)	[1]	1,500,000
Exercise of warrants		$ 4,594,808					4,594,808
Exercise of warrants (in Shares)	[1]	1,500,274
Issuance of common shares upon vesting of restricted stock units		$ 511,190		(511,190)
Issuance of common shares upon vesting of restricted stock units (in Shares)	[1]	306,838
Share-based compensation		$ 103,699		701,062			804,761
Share-based compensation (in Shares)	[1]	64,794
Balance at Jul. 31, 2024		$ 23,800,735	$ 459,341	$ 2,372,093	$ (21,250)	$ (23,137,997)	$ 3,472,922
Balance (in Shares) at Jul. 31, 2024	[1]	3,979,243
[1] On November 28, 2023, the Company effected a 1-for-30 reverse split of its issued and outstanding common shares, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held.

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Operating activities
Net loss	$ (4,369,934)	$ (4,551,038)
Adjustments for:
Amortization of intangible assets	8,223	12,509
Amortization of right-of-use asset	29,965	35,381
Interest on lease liability	3,924	2,907
Exchange rate differences	2,288	(622)
Dividend received		16,555
Share issuance costs allocated to derivate warrant liability	115,046
Depreciation of property and equipment	1,372	5,603
Changes in fair value of derivative warrant liability	83,080	(121,774)
Share-based compensation	701,374	329,032
Unrealized (gain) loss on short-term investment	(415,826)	70,971
Realized loss on short-term investment	423,438
Tax expenses	39,759	6,019
Changes in working capital:
Decrease (increase) in other receivables	54,820	(153,550)
Increase in prepaid expenses	(83,380)	(136,599)
Decrease in accounts payable and accrued liabilities	(382,275)	(898,795)
Increase (decrease) in due to / from related parties	6,612	(164,903)
Net cash used in operating activities	(3,781,514)	(5,548,304)
Investing activities
Proceeds from sale of short-term investment	78,500
Restricted Cash	33,803	7,686
Net cash generated in investing activities	112,303	7,686
Financing activities
Proceeds from issuance of common shares and warrants, net of issuance costs (Note 6c (iii))	1,824,773	9,300,048
Proceeds received from issuance of shares	103,387
Proceeds received from exercise of warrants (Notes 6c (ii, v, ix))	4,035,568
Repayment of lease liabilities	(32,555)	(40,922)
Net cash provided by financing activities	5,931,173	9,259,126
Effect of foreign exchange rate changes on cash and cash equivalents	(10,053)	(26)
Net increase in cash and cash equivalents	2,251,909	3,718,482
Cash and cash equivalents at beginning of period	5,427,739	128,777
Cash and cash equivalents at end of period	7,679,648	3,847,259
Supplementary disclosure of cash flow information:
Cash received as interest	210,090	40,636
Cash paid for taxes	269,007
Non-cash financing and investing activities
Derivative liability converted to equity		290,569
Right of use assets obtained in exchange for lease liabilities	181,779
Early termination of office lease (Note 4c)	$ (88,562)

Nature of Operations and Going Concern	9 Months Ended
	Jul. 31, 2024
Nature of Operations and Going Concern [Abstract]
Nature of Operations and Going Concern	1. Nature of Operations and Going Concern     a. Clearmind Medicine Inc. (the “Company”) was incorporated in the province of British Columbia on July 18, 2017. The Company is a clinical pharmaceutical company currently engaged in phase I/IIa clinical trials of novel psychedelic medicines that have been developed to solve widespread, yet under-served, health problems. The Company’s head office is located at Suite 101 -1220 West 6th Avenue, Vancouver, BC, V6H 1A5. The Company’s wholly owned Israeli subsidiary (Clearmindmed Ltd.) functions as the research and development arm of the Company.   On November 14, 2022, the Company completed a listing on the Nasdaq Capital Market (“Nasdaq”). The Company trades under the symbol “CMND” on the Nasdaq and on the Frankfurt Stock Exchange, (FSE), under the symbol “CWY”. The Company was listed on the Canadian Securities Exchange (“CSE”) in Toronto until March 14, 2024. Following approval for a voluntary delisting, the Company no longer trades on the CSE but remains a reporting issuer in Canada.    On January 16, 2024, the Company completed a registered direct and private placement for aggregate gross proceeds of $2.40 million. See note 6(c)(iii).     b. Going concern   These condensed interim consolidated financial statements have been prepared on the going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. For the nine months ended July 31, 2024, the Company has not generated any revenues and has negative cash flows from operations of $3,781,514. As of July 31, 2024, the Company has an accumulated deficit of $23,137,997. The continued operations of the Company are dependent on its ability to generate future cash flows or obtain additional financing through debt or equity. Management is of the opinion that sufficient working capital will be obtained from external financing to meet the Company’s liabilities and commitments as they become due, although there is a risk that additional financing will not be available on a timely basis or on terms acceptable to the Company. These factors raise substantial doubt on the Company’s ability to continue as a going concern. These condensed interim consolidated financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern.     c. Reverse share split   On November 28, 2023, the Company’s Board of Directors (the “Board”) approved a 1-for-30 reverse split of its issued and outstanding common shares, effective as of November 28, 2023, pursuant to which holders of the Company’s common shares received 0.0333 of a common share for every one common share then held.   All issued and outstanding common shares or instruments convertible into common shares contained in these financial statements have been retroactively adjusted to reflect the reverse share split for all periods presented, unless explicitly stated otherwise.     d. On October 7, 2023, an unprecedented attack was launched against Israel by terrorists from the Hamas terrorist organization that infiltrated Israel’s southern border from the Gaza Strip and in other areas within the State of Israel attacking civilians and military targets while simultaneously launching extensive rocket attacks on the Israeli population, which led to the declaration of the ‘Iron Swords’ War (the “War”). The War is on-going as of the issuance date of these financial statements. The Company’s clinical trials, the laboratory that supports such clinical trials and the Contract Research Organization (CRO) are based in Israel. The extent to which the War may impact the Company’s financial condition, results of operations, or liquidity is uncertain, and as of the date of issuance of these consolidated financial statements, the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or an adjustment to the carrying value of the Company’s assets or liabilities as of July 31, 2024.

Material Accounting Policy Information	9 Months Ended
	Jul. 31, 2024
Material Accounting Policy Information [Abstract]
Material Accounting Policy Information	2. Material Accounting Policy Information     a. Basis of Presentation   The accompanying consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”) on a going concern basis.   These condensed interim consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries, Clearmindmed Ltd. and Clearmind Labs Corp. (inactive). All inter-company balances and transactions have been eliminated on consolidation.   These condensed interim consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities (including derivatives) which are presented at fair value through profit or loss (“FVTPL”), and are presented in United States dollars, which is the Company’s functional currency.     b. Unaudited Interim Financial Information   Certain information and footnote disclosures normally included in financial statements prepared in accordance with IFRS have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed interim consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended October 31, 2023 and the notes thereto (the “2023 Annual Report”).   The condensed interim consolidated financial statements have been prepared on the same basis as the 2023 Annual Report. In the opinion of the Company’s management, these condensed interim consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the nine months ended July 31, 2024 are not necessarily indicative of the results for the year ending October 31, 2024, or for any future period.   As of July 31, 2024, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 Annual Report except for the following:   Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies   The Company has adopted the amendments to IAS 1 for the first time in the current year. The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements.   The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions that are immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material.      c. Significant Accounting Estimates and Judgments   The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the application of policies and reported amounts of assets, liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.   Significant Estimates   Share-based Compensation   Fair values are determined using the Black-Scholes option pricing model. Estimating fair value requires determining the most appropriate valuation model for a grant of equity instruments, which is dependent on the terms and conditions of the grant. Option-pricing models require the use of highly subjective estimates and assumptions including the expected stock price volatility. Changes in the underlying assumptions can materially affect the fair value estimates and, therefore, existing models do not necessarily provide reliable measurement of the fair value of the Company’s stock options.   Warrant Liability   The Company analyses warrants issued to determine whether they meet the classification as liabilities or equity. Derivative warrant liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations. The Company uses a fair valuation specialist to estimate the value of these instruments using the binomial pricing model.   The key assumptions used in the models are the expected future volatility in the price of the Company’s shares, the expected life of the warrants, the risk-free interest rate and the probability of any future adjustment event.   Significant Judgments   The critical judgments that the Company’s management has made in the process of applying the Company’s accounting policies that have the most significant effect on the amounts recognized in the Company’s consolidated financial statements are as follows:   Going Concern   The application of the going concern assumption requires management to take into account all available information about the future, which is at least but not limited to, 12 months from the end of the reporting period. The Company is aware that material uncertainties related to events or conditions raise substantial doubt upon the Company’s ability to continue as a going concern.

Short-term Investment	9 Months Ended
	Jul. 31, 2024
Short-term Investment [Abstract]
Short-term Investment	3. Short-term Investment   Pursuant to the Share Exchange Agreement with XYLO TECHNOLOGIES LTD. (formerly Medigus Ltd.) (“XYLO”), on February 14, 2022, the Company received 27,778 ordinary shares of XYLO. The investment cost of the share was $501,938.   During the nine months ended July 31, 2024, the Company sold all its remaining shares of XYLO, for total proceeds of $78,500 and recorded a net realized loss of $7,612.       October 31, 2023     Disposals     Net realized loss     July 31, 2024                             XYLO – Shares   $ 86,112     $ 78,500     $ (7,612 )   $ –         October 31, 2022     Additions     Unrealized loss     October 31, 2023                             XYLO – Shares   $ 193,750     $         –     $ (107,638 )   $ 86,112

Related Party Transactions	9 Months Ended
	Jul. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	4. Related Party Transactions     a. Compensation to key management personnel     (i) The compensation to key management personnel for services they provide to the Company is as follows:       Three months ended     Three months ended     Nine months ended     Nine months ended       July 31,     July 31,     July 31,     July 31,       2024     2023     2024     2023                             Officers:                         Consulting fees   $ 86,792     $ 98,167     $ 335,066     $ 318,668   Share based compensation     103,977       31,709       251,717       107,089       $ 190,769     $ 129,876     $ 586,783     $ 425,757   Directors:                                 Directors’ fees   $ 58,538     $ 41,022     $ 184,063     $ 121,998   Share based compensation     101,157       28,558       310,069       106,682       $ 159,695     $ 69,580     $ 494,132     $ 228,680       (ii) Balances with related parties       July 31,     October 31,       2024     2023   Amounts owed to officers   $ 29,625     $ 29,666   Amounts owed to directors     18,952       12,767       $ 48,577     $ 42,433       b. On March 7, 2022, the Company signed an agreement with SciSparc Ltd (“SciSparc”), pursuant to which the Company and SciSparc agreed to cooperate in conducting a feasibility study using certain molecules developed by each party (the “Cooperation Agreement”). Certain of the Company’s officers and directors currently operate, manage or are engaged as officers and/or directors of SciSparc.   In June 2023, the Company entered into a research agreement with the Hebrew University of Jerusalem to evaluate SciSparc’s and the Company’s combination treatment for obesity and metabolic syndrome.   To date, the collaboration has resulted in the filing of nine patent applications. To the extent the parties determine to proceed to a commercial cooperation, they may enter into a joint venture by the parties share the economics and rights on a 50%-50% basis. To date, no determination has been made to pursue the joint venture as the development of the project remains at a very early stage.   For the three and nine months ended July 31, 2024, the Company incurred research and development expenses conducted within the framework of the Cooperation Agreement in the amount of $4,080 and $26,888, respectively (three and nine months ended July 31, 2023- $126,661 and $126,661, respectively). As of July 31, 2024, $108,597 is owed to the Company by SciSparc (October 31, 2023- $136,002).      c. On December 25, 2023, the Company entered into an agreement with SciSparc for the lease of office space in Tel Aviv, Israel, having a total area of approximately 240 square meters. The Company occupies approximately 120 square meters of the space for its offices. The Company’s base rent was ILS 23,300 per month ($6,500) during the term of the lease. The lease liability was discounted using the Company’s estimated incremental borrowing rate of 10%.   On March 31, 2024, the Company and SciSparc agreed to terminate the lease agreement prior to the initial term of the lease. As a result, the Company paid early termination fees of approximately $13,000 and paid approximately $3,000 to a broker. The loss upon early termination related to this transaction was recorded as other expenses within the Condensed Interim Consolidated Statements of Operations and Comprehensive Loss.   On June 13, 2024, the Company entered into an agreement with SciSparc for the lease of office space in Tel Aviv, Israel, having a total area of approximately 386 square meters. The Company occupies approximately 193 square meters of the space for its offices. The rental period is from April 1, 2024 to March 31, 2026. The Company’s base rent was ILS 12,500 per month ($3,400) during the term of the lease. The lease liability was discounted using the Company’s estimated incremental borrowing rate of 10%.

Derivative Warrant Liabilities	9 Months Ended
	Jul. 31, 2024
Derivative Warrant Liabilities [Abstract]
Derivative warrant liabilities	5. Derivative warrant liabilities     a. On April 6, 2023, the Company issued 4,505,718 warrants in connection with its April 2023 Public Offering (“April 2023 Warrants”). The warrant includes a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“April 2023 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability and the time of the grant and are revalued at the end of each reporting period. The number of warrants do not change, however, the number of warrant shares issued may change, subject to the adjustment noted above.   On January 21, 2024, following the January 2024 Public Offering, which included the offering of common shares at a price lower than the exercise price of the April 2023 Warrants, the exercise price of the April 2023 Warrants was reduced to $1.077, and each April 2023 Warrant became exercisable into 0.724 common shares of the Company. For further details of the ratio of warrant shares issuable and outstanding in relation to the April 2023 Warrants, see detailed table in note 7.   During the period between November 29, 2023 and December 5, 2023, 2,729,394 April 2023 Warrants were exercised into 652,521 common shares.   During the period between March 8, 2024 and March 22, 2024, 27,793 April 2023 Warrants were exercised into 20,245 common shares.   On June 28, 2024, 156,098 April 2023 Warrants were exercised into 112,975 common shares.     b. On September 18, 2023, the Company issued 7,500,000 warrants in connection with its September 2023 Public Offering (“September 2023 Warrants”). The warrant includes a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“September 2023 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability and the time of the grant and are revalued at the end of each reporting period. The number of warrants do not change, however, the number of warrant shares issued may change, subject to the adjustment noted above.   On January 21, 2024, following the January 2024 Public Offering, which included the offering of common shares at a price lower than the exercise price of the September 2023 Warrants, the exercise price of the September 2023 Warrants was reduced to $1.077, and each September 2023 Warrant became exercisable into 0.288 common shares of the Company. For further details of the ratio of warrant shares issuable and outstanding in relation to the September 2023 Warrants, see detailed table in note 7.   During the period between November 29, 2023 and December 5, 2023, 4,602,916 September 2023 Warrants were exercised into 409,667 common shares.   During the period between February 23, 2024 and March 22, 2024, 281,910 September 2023 Warrants were exercised into 81,469 common shares.   On June 28, 2024, 182,144 September 2023 Warrants were exercised into 54,877 common shares.     c. On January 16, 2024, the Company issued 1,500,000 warrants with an exercise price of $1.60 per warrant in connection with its January 2024 Public Offering (“January 2024 Warrants”). Each warrant includes a cashless exercise provision and repricing adjustments for offerings at a price lower than the existing exercise price of the warrants, stock splits, reclassifications, subdivisions, and other similar transactions (“January 2024 Warrant Adjustments”) and therefore, these warrants were recorded at their fair value as a derivative liability at the time of the grant and are revalued at the end of each reporting period.   On February 23, 2024, 30,200 January 2024 Warrants were exercised into 30,200 common shares.   During the period between June 20, 2024 and July 16, 2024, 138,320 January 2024 Warrants were exercised into 138,320 common shares.     d. During the three and nine months ended July 31, 2024, the Company recorded a loss on the revaluation of the total derivative warrant liabilities of $643,225 and $83,080, respectively, in the Condensed Interim Consolidated Statements of Operations and Comprehensive Loss.     e. The binomial model was used to measure the derivative warrant liability with the following assumptions:       July 31, 2024   Share Price   $1.66   Exercise Price     $1.077 – $1.60   Expected life     3.68 – 4.46 years   Risk-free interest rate     4.00 – 4.07%   Dividend yield     0.00% Expected volatility     149.52 – 152.96%     f. The following table presents the changes in the derivative warrant liability during the period:   Balance as of November 1, 2022   $ -   Issuance of April 2023 Warrants     1,771,208   Issuance of September 2023 Warrants     923,225   Exercise of warrants     (574,040 ) Change in fair value of warrants     2,189,986   Balance as of October 31, 2023   $ 4,310,379   Issuance of January 2024 Warrants     480,004   Exercise of warrants     (559,240 ) Change in fair value of warrants     83,080   Balance as of July 31, 2024   $ 4,314,223

Share Capital	9 Months Ended
	Jul. 31, 2024
Share Capital [Abstract]
Share Capital	6. Share Capital     a. The Company’s authorized share capital is unlimited common shares without par value share. On November 28, 2023, the Company effected a 1-for-30 share consolidation. All share amounts and instruments convertible into common shares prior to the date of the reverse share split have been retroactively restated for all periods presented.     b. As of July 31, 2024, the number of common shares issued and outstanding was 3,979,243 (October 31, 2023 – 607,337).   c. Share transactions during the nine months ended July 31, 2024:   (i) On November 6, 2023, 45 common shares with a fair value of $117 were issued to providers of investor services in payment of services.   (ii) Between November 29, 2023 and December 5, 2023, April 2023 Warrants and September 2023 Warrants were exercised into 1,062,188 shares, resulting in gross proceeds of $3,498,032.   (iii) On January 16, 2024, the Company completed a registered direct offering and concurrent private placement of (i) 1,468,000 Common Shares, (ii) 32,000 pre-funded warrants to purchase 32,000 Common Shares and (iii) 1,500,000 unregistered common warrants to purchase 1,500,000 Common Shares. The pre-funded warrants are immediately exercisable at an exercise price of $0.0001 per Common Share and will not expire until exercised in full. The unregistered common warrants have an exercise price of $1.60 per Common Share (after giving effect to adjustments and subject to further adjustments as set forth therein), are immediately exercisable, and expire five years from the date of issuance. These warrants include a cashless exercise provision and repricing provisions, under certain circumstances (“the January 2024 Offering”). The gross proceeds from the January 2024 Offering were approximately $2.4 million before deducting estimated offering expenses. Net proceeds from the offering were $1,824,773. On January 17, 2024, the pre-funded warrants were exercised.   (iv) On February 19, 2024, 44 common shares with a fair value of $68 were issued to providers of investor services in payment of services.   (v) During the period between February 23, 2024 and March 2, 2024, April 2023 Warrants, September 2023 Warrants and January 2024 Warrants were exercised into 131,914 shares, for gross proceeds of $157,918.   (vi) On April 3, 2024, 9,000 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $11,935 at the time of issuance.   (vii) On May 9, 2024, 88 common shares with a fair value of $127 were issued to providers of investor services in payment of services.   (viii) On June 17, 2024, 162,970 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $243,003 at the time of issuance.   (ix) During the period between June 20, 2024 and July 16, 2024, April 2023 Warrants, September 2023 Warrants and January 2024 Warrants were exercised into 306,172 shares, for gross proceeds of $402,206.   (ix) On July 4, 2024, 64,617 common shares with a fair value of $103,387 were issued to providers of investor services in payment of services.   (xi) During the period between July 4, 2024 and July 8, 2024, 134,868 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $256,252 at the time of issuance.   d. Share transactions during the nine months ended July 31, 2023:   (i) On November 14, 2022, the Company completed an underwritten public offering of 38,462 common shares at a price to the public of $195.00 per share, for aggregate gross proceeds of $7.5 million, prior to deducting underwriting discounts and offering expenses. The offering closed on November 17, 2022. Net proceeds from the offering were $6,363,906.   In addition, the Company granted Aegis Capital Corp. (“Aegis”), who acted as the underwriters for the deal, a 45-day option to purchase up to 5,769 additional common shares, equal to 15% of the number of common shares sold in the offering solely to cover over-allotments, if any (“Over-Allotment”). The public purchase price per additional common share would have been $195.00 per share. The Over-Allotment was not exercised.    Aegis received 1,923 underwriter warrants, (the “Underwriter Warrants”) each such Underwriter Warrant entitling the agents to receive one common share upon payment of $243.75 per share, exercisable six months after the commencement of sales of this offering and expiring on a date which is no more than five years after the commencement of sales of the offering. The fair value of the Underwriter Warrants of $337,579 were accounted for as an issuance cost within the share-based payment reserve. The fair value of the Underwriter Warrants was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:   Risk-free interest rate     1.43 % Expected life (in years)     5   Expected volatility     150 %   In connection with the offering, the Company’s common shares were approved for listing on the Nasdaq and began trading on the Nasdaq (in addition to the CSE) under the symbol “CMND” on November 15, 2022.   Following the public offering and pursuant to the XYLO SPA, XYLO was entitled to receive 1,494 common shares and 75 warrants pursuant to an anti-dilution clause included in the agreement signed between the Company and XYLO on June 29, 2022. The anti-dilution feature was recorded as a derivative liability as of October 31, 2022.   (ii) On January 16, 2023, 161 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $39,975 at the time of issuance.   On February 22, 2023, 400 common shares were issued in respect of fully vested RSU’s that had been fully vested. The RSU’s had a fair value of $110,096 at the time of issuance.     (iii) On April 6, 2023, the Company completed an underwritten public offering of 103,249 common shares at a price to the public of $23.40 per share and pre-funded warrants to purchase 46,942 common shares at a price to the public of $23.37 per pre-funded warrant (“Pre-Funded Warrants”), for aggregate gross proceeds of $3.5 million (the “April 2023 Public Offering”). The Pre-Funded Warrants were exercisable at $0.03 into one common share, and all the Pre-Funded Warrants were exercised by April 30, 2023. In addition, each April 2023 Public Offering shareholder and each Pre-Funded Warrant holder received a common warrant, which was immediately exercisable, will expire five years from the date of issuance and have an exercise price of $23.40 per common share (“April 2023 Public Offering Warrant”). The April 2023 Public Offering warrants include a cashless exercise provision and repricing provisions under certain circumstances, that also includes a potential change in the number of shares to be issued for each warrant depending on the change in the exercise price of the warrant.   Net proceeds from the offering were $2,936,079.   (iv) On May 23, 2023, 239 common shares with a fair value of $27,965 were issued to consultants and 1,494 common shares with a fair value of $110,000 were issued to providers of investor services in respect of services. (v) On June 1, 2023, 245 common shares were issued in respect of RSU’s that had been fully vested. The RSU’s had a fair value of $48,194 at the time of issuance.   (vi) On July 10, 2023, 597 common shares with a fair value of $10,000 were issued to providers of investor services in respect of services.

Warrants	9 Months Ended
	Jul. 31, 2024
Warrants [Abstract]
Warrants	7. Warrants    The following table summarizes the changes in the Company’s warrants:       Number of warrants     Historic weighted average exercise price per warrant shares                 Balance, October 31, 2022     19,763       576.66                     Issuance of underwriter warrants     1,923       243.75   Issuance of April 2023 warrants (*)     4,505,718       5.124   Issuance of September 2023 warrants (**)     7,500,000       9.00   Issuance of XYLO warrants     75       1,297.67   Expiration of warrants     (11,430 )     922.98   Exercise of warrants     (784,584 )     5.124                     Balance, October 31, 2023     11,231,465     $ 7.90   Number of shares to be issued from the exercise of these warrants     826,781                             Balance, October 31, 2023     11,231,465     $ 7.90   Issuance of January 2024 warrants (Note 5c)     1,500,000       1.60   Exercise of warrants     (8,148,955 )     2.69   Expiration of warrants     (8,333 )     98.43   Balance, July 31, 2024     4,574,177     $ 1.56   Number of shares to be issued from the exercise of these warrants     2,618,903             (*) These warrants convert into 584,545 shares.   (**) These warrants convert into 700,880 shares.   As of July 31, 2024, the following warrants were outstanding:   Number of warrants outstanding     Number of shares to be issued from the exercise of warrants (warrant shares)     Exercise price per warrant shares     Exercise price per warrant shares (USD)     Expiry date                             1,923       1,923     C$         336.59     $           243.75     November 17, 2027   807,669       584,545     $ 1.077     $ 1.077     April 5, 2028   75       75     C$ 1,800     $ 1,303.49     November 23, 2024   2,433,030       700,880     $ 1.077     $ 1.077     September 17, 2028   1,331,480       1,331,480     $ 1.60     $ 1.60     January 15, 2029   4,574,177       2,618,903

Stock Options	9 Months Ended
	Jul. 31, 2024
Stock Options [Abstract]
Stock Options	8. Stock Options     (a) On November 14, 2023, the shareholders of the Company approved the Omnibus Equity Incentive Plan, or the Omnibus Plan. Pursuant to the Omnibus Plan, the Company is authorized to grant options or restricted share units (“RSUs) to officers, directors, employees and consultants enabling them to acquire, together with” Options”, “Awards” or “Stock Options” as defined, up to 20% of the Company’s issued and outstanding Common Shares (after taking into account existing awards from the Company’s 2021 stock option plan). The Awards can be granted for a maximum of 10 years and vest as determined by the Board.   The maximum number of common shares reserved for issuance in any 12-month period to a related party consultant may not exceed 5% of the issued and outstanding common shares at the date of the grant (and may not exceed 15% in total, to all related parties). The maximum number of common shares reserved for issuance in any 12-month period to any investor relations service provider may not exceed 2% of the issued and outstanding common shares at the date of the grant.   (b) The following table summarizes the changes in the Company’s stock options for the periods ended July 31, 2024 and October 31, 2023:       Number of options     Weighted average exercise price (C$)     Weighted average exercise price (USD$)                       Outstanding, October 31, 2022     5,254     C$ 613.5     $ 450.64                             Granted     334       442.22       318.81                             Outstanding, October 31, 2023     5,588     C$ 603.12     $ 434.81                             Expired     (67 )     720.00       533.14                             Outstanding, July 31, 2024     5,521     C$ 601.70     $ 435.73                             Exercisable, July 31, 2024     5,160     C$ 603.20     $ 436.82       (c) Additional information regarding stock options outstanding as of July 31, 2024, is as follows:   Outstanding           Exercisable         Number of stock options     Weighted average remaining contractual life (years)     Weighted average exercise price (C$)     Weighted average exercise price (USD$)     Number of stock options     Weighted average exercise price (C$)     Weighted average exercise price (USD$)                                             533       1.82     C$ 166.50     $ 120.57       533     C$ 166.50     $ 120.57     978       7.51       504.00       364.98       858       504.00       364.98     1,166       1.82       675.00       488.81       1,166       675.00       488.81     200       4.75       702.00       508.36       192       702.00       508.36     133       2.14       747.00       540.95       133       747.00       540.95     422       7.36       612.00       443.19       422       612.00       443.19     1,044       7.51       720.00       521.40       870       720.00       521.40     667       1.92       756.00       547.47       667       756.00       547.47     111       7.36       900.00       651.75       102       900.00       651.75     61       8.82       315.00       228.11       53       315.00       228.11     156       8.91       504.00       364.98       143       504.00       364.98     50       8.94       32.31       23.40       21       32.31       23.40     5,521       4.91     C$ 601.70     $ 435.73       5,160     C$ 603.20     $ 436.82      The fair value for stock options previously granted to certain consultants for ongoing services measured during the period have been estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:       Nine months ended July 31, 2024     Nine months ended July 31, 2023                 Risk-free interest rate     4.05 %     3.83 % Expected life (in years)     4.86       5.86   Expected volatility     121.10%-133.14 %     111%-116 %     d. The portion of the total fair value of stock options expensed during the three and nine months ended July 31, 2024, were $14,879 and $71,793, respectively (2023 - $59,513 and $181,448, respectively) which was recorded in share-based compensation expense.

Restricted Share Units	9 Months Ended
	Jul. 31, 2024
Restricted Share Units [Abstract]
Restricted Share Units	9. Restricted Share Units   The following table summarizes the continuity of RSUs:       Number of RSUs     Weighted average issue price (C$)     Weighted average issue price (USD$)                       Balance, October 31, 2022              –     $          –     $             –                             Granted     2,200       55.97       41.46   Vested     (2,200 )     55.97       41.46                             Balance, October 31, 2023     –     $ –     $ –                             Granted (i)     476,189       1.85       1.34   Vested     (457,981 )     1.86       1.37                             Balance, July 31, 2024     18,208     $ 1.52     $ 1.10     (i) During the nine months ended July 31, 2024, the Company issued 476,189 RSU’s to consultants, directors and officers. 457,981 RSU’s vested with a fair value of $629,720 (2023-$90,598).

Financial Instruments and Risk Management	9 Months Ended
	Jul. 31, 2024
Financial Instruments and Risk Management [Abstract]
Financial Instruments and Risk Management	10. Financial Instruments and Risk Management   a. Assets and liabilities measured at fair value on a recurring basis were presented in the Company’s statement of financial position as of July 31, 2024, as follows:       Fair Value Measurements Using             Quoted prices in active markets for identical instruments (Level 1)     Significant other observable inputs (Level 2)     Significant unobservable inputs (Level 3)     Balance July 31, 2024   Derivative warrants liability   $              –     $           –     $ 4,314,223     $ 4,314,223     Assets and liabilities measured at fair value on a recurring basis were presented in the Company’s statement of financial position as of October 31, 2023, as follows:       Fair Value Measurements Using             Quoted prices in active markets for identical instruments (Level 1)     Significant other observable inputs (Level 2)     Significant unobservable inputs (Level 3)     Balance October 31, 2023   Short-term investment   $ 86,112     $            –     $ –     $ 86,112   Derivative warrants liability     –       –       4,310,379       4,310,379     The fair value of other assets and liabilities, which include cash, amounts receivable, accounts payable and accrued liabilities, and amounts due to related parties, approximate their carrying values due to the relatively short-term maturity of these instruments.   b. Credit Risk   Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. The carrying amount of financial assets represents the maximum credit exposure.     c. Foreign Exchange Rate Risk   Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk to the extent that monetary assets and liabilities are denominated in a foreign currency. The Company’s subsidiary operates in Israel and has certain monetary financial instruments denominated in New Israeli Shekel and CAD. The Company has not entered into foreign exchange rate contracts to mitigate this risk.   The following table indicates the impact of foreign currency exchange risk on net working capital as of July 31, 2024. The table below also provides a sensitivity analysis of a 10% strengthening of the foreign currency against functional currencies identified which would have increased (decreased) the Company’s net loss by the amounts shown in the table below. A 10% weakening of the foreign currency against the functional currencies would have had the equal but opposite effect as of July 31, 2024.   Cash and cash equivalents   $ 75,440   Other receivables     62,380   Accounts payable and accrued liabilities     (105,839 ) Due to related parties     (38,577 ) Total foreign currency financial assets and liabilities   $ (6,596 )           Impact of a 10% strengthening or weakening of foreign exchange rate   $ (660 )     d. Interest Rate Risk   Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to significant interest rate risk as it does not have any liabilities with variable rates.      e. Liquidity Risk   Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s objective to managing liquidity risk is to ensure that it has sufficient liquidity available to meet its liabilities when due. The Company relies on raising debt or equity financing in a timely manner.   The following amounts are the contractual maturities of financial liabilities as of July 31, 2024 and October 31, 2023:   July 31, 2024   Total     Within 1 year     Within 2-5 years                       Accounts payable and accrued liabilities   $ 276,744     $ 276,744     $          –   Due to related parties     48,577       48,577       –   Lease liability     60,898       35,320       25,578       $ 386,219     $ 360,641     $ 25,578     October 31, 2023   Total     Within 1 year     Within 2-5 years                       Accounts payable and accrued liabilities   $ 617,004     $ 617,004     $                –   Due to related parties     42,433       42,433       –       $ 659,437     $ 659,437     $ –

Capital Management	9 Months Ended
	Jul. 31, 2024
Capital Management [Abstract]
Capital Management	11. Capital Management   The Company manages its capital to maintain its ability to continue as a going concern and to provide returns to shareholders and benefits to other stakeholders. The capital structure of the Company consists of cash and equity comprised of issued share capital, RSU reserve, warrants reserve, and options reserve.   The Company manages its capital structure and makes adjustments to it in light of economic conditions. The Company, upon approval from its Board, will balance its overall capital structure through new share issuances or by undertaking other activities as deemed appropriate under the specific circumstances.   The Company is not subject to externally imposed capital requirements and the Company’s overall strategy with respect to capital risk management remains unchanged from the nine months ended July 31, 2024.

Segmented Information	9 Months Ended
	Jul. 31, 2024
Segmented Information [Abstract]
Segmented Information	12. Segmented Information   As of July 31, 2024, the Company has one operating segment, being the research and development of novel psychedelic medicine, which takes place primarily in Israel.

Commitments	9 Months Ended
	Jul. 31, 2024
Commitments [Abstract]
Commitments	13. Commitments   a. On January 15, 2024, the Company signed a long-term licensing agreement with the research & development company of Bar-Ilan University (“BIRAD”), a leading Israeli research center. The licensing agreement refers to the Company’s dedicated treatment for cocaine addiction which previously indicated a significant decrease in cocaine craving. Under this agreement, the Company received a worldwide exclusive license and will pay BIRAD certain milestone payments upon commerciality of the product and royalties of 2.5% for a period of 15 years following the first commercial sale.   b. On March 19, 2024, the Company signed an exclusive patent licensing agreement with Yissum research development company of the Hebrew University of Jerusalem. This agreement provides Clearmind with exclusive global rights to further develop, manufacture, and commercialize innovative compounds invented by Professors Rami Yaka, Ahmed Masaewa and Avi Priel from the Hebrew University. The Company will pay Yissum, royalties of 3% on sales. In addition, the Company will pay an annual license fee of $25,000 for seven years, after which the license fee will increase to $35,000 for three years, and $50,000 for every year thereafter. Finally, the Company will pay Yissum $400,000 upon the first patient enrolled in a Phase III Clinical Trial and $600,000 upon first commercial sale in the US or EU.   c. On Marh 30, 2024, the Company signed an exclusive licensing agreement with Yissum. Under the terms of the agreement, Clearmind receives exclusive worldwide rights to develop, research, manufacture, market, and commercialize products derived from a patent-pending synthesis of psychedelic compounds, enriching the company’s innovative portfolio in addiction and mental health treatments. The Company will pay Yissum royalties of 3% on sales. In addition, the Company will pay an annual license fee of $25,000 for seven years, after which the license fee will increase to $35,000 for three years, and $50,000 for every year thereafter. Finally, the Company will pay Yissum $400,000 upon the first patient enrolled in a Phase III Clinical Trial and $600,000 upon first commercial sale in the US or EU.   d. Respect to the Company’s lease commitment, refer to Note 4c.

Subsequent Events	9 Months Ended
	Jul. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events   On August 12, 2024, April 2023 Warrants and September 2023 Warrants were exercised into 69,592 shares, for gross proceeds of $74,999.

Accounting Policies, by Policy (Policies)	9 Months Ended
	Jul. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	a. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”) on a going concern basis. These condensed interim consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries, Clearmindmed Ltd. and Clearmind Labs Corp. (inactive). All inter-company balances and transactions have been eliminated on consolidation. These condensed interim consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities (including derivatives) which are presented at fair value through profit or loss (“FVTPL”), and are presented in United States dollars, which is the Company’s functional currency.
Unaudited Interim Financial Information	b. Unaudited Interim Financial Information Certain information and footnote disclosures normally included in financial statements prepared in accordance with IFRS have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed interim consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended October 31, 2023 and the notes thereto (the “2023 Annual Report”). The condensed interim consolidated financial statements have been prepared on the same basis as the 2023 Annual Report. In the opinion of the Company’s management, these condensed interim consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the nine months ended July 31, 2024 are not necessarily indicative of the results for the year ending October 31, 2024, or for any future period. As of July 31, 2024, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 Annual Report except for the following: Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies The Company has adopted the amendments to IAS 1 for the first time in the current year. The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions that are immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material.
Significant Accounting Estimates and Judgments	c. Significant Accounting Estimates and Judgments The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates, and assumptions that affect the application of policies and reported amounts of assets, liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. Significant Estimates Share-based Compensation Fair values are determined using the Black-Scholes option pricing model. Estimating fair value requires determining the most appropriate valuation model for a grant of equity instruments, which is dependent on the terms and conditions of the grant. Option-pricing models require the use of highly subjective estimates and assumptions including the expected stock price volatility. Changes in the underlying assumptions can materially affect the fair value estimates and, therefore, existing models do not necessarily provide reliable measurement of the fair value of the Company’s stock options. Warrant Liability The Company analyses warrants issued to determine whether they meet the classification as liabilities or equity. Derivative warrant liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations. The Company uses a fair valuation specialist to estimate the value of these instruments using the binomial pricing model. The key assumptions used in the models are the expected future volatility in the price of the Company’s shares, the expected life of the warrants, the risk-free interest rate and the probability of any future adjustment event. Significant Judgments The critical judgments that the Company’s management has made in the process of applying the Company’s accounting policies that have the most significant effect on the amounts recognized in the Company’s consolidated financial statements are as follows: Going Concern The application of the going concern assumption requires management to take into account all available information about the future, which is at least but not limited to, 12 months from the end of the reporting period. The Company is aware that material uncertainties related to events or conditions raise substantial doubt upon the Company’s ability to continue as a going concern.

Short-term Investment (Tables)	9 Months Ended
	Jul. 31, 2024
Short-term Investment [Abstract]
Schedule of Ordinary Shares of Medigus	During the nine months ended July 31, 2024, the Company sold all its remaining shares of XYLO, for total proceeds of $78,500 and recorded a net realized loss of $7,612.     October 31, 2023     Disposals     Net realized loss     July 31, 2024                             XYLO – Shares   $ 86,112     $ 78,500     $ (7,612 )   $ –       October 31, 2022     Additions     Unrealized loss     October 31, 2023                             XYLO – Shares   $ 193,750     $         –     $ (107,638 )   $ 86,112

Related Party Transactions (Tables)	9 Months Ended
	Jul. 31, 2024
Related Party Transactions [Abstract]
Schedule of Key Management Personnel for Services	The compensation to key management personnel for services they provide to the Company is as follows:     Three months ended     Three months ended     Nine months ended     Nine months ended       July 31,     July 31,     July 31,     July 31,       2024     2023     2024     2023                             Officers:                         Consulting fees   $ 86,792     $ 98,167     $ 335,066     $ 318,668   Share based compensation     103,977       31,709       251,717       107,089       $ 190,769     $ 129,876     $ 586,783     $ 425,757   Directors:                                 Directors’ fees   $ 58,538     $ 41,022     $ 184,063     $ 121,998   Share based compensation     101,157       28,558       310,069       106,682       $ 159,695     $ 69,580     $ 494,132     $ 228,680
Schedule of Balances with Related Parties	Balances with related parties     July 31,     October 31,       2024     2023   Amounts owed to officers   $ 29,625     $ 29,666   Amounts owed to directors     18,952       12,767       $ 48,577     $ 42,433

Derivative Warrant Liabilities (Tables)	9 Months Ended
	Jul. 31, 2024
Derivative Warrant Liabilities [Abstract]
Schedule of Binomial Model was used to Measure the Derivative Warrant Liability	The binomial model was used to measure the derivative warrant liability with the following assumptions:     July 31, 2024   Share Price   $1.66   Exercise Price     $1.077 – $1.60   Expected life     3.68 – 4.46 years   Risk-free interest rate     4.00 – 4.07%   Dividend yield     0.00% Expected volatility     149.52 – 152.96%
Schedule of Changes in the Warrants Liability	The following table presents the changes in the derivative warrant liability during the period: Balance as of November 1, 2022   $ -   Issuance of April 2023 Warrants     1,771,208   Issuance of September 2023 Warrants     923,225   Exercise of warrants     (574,040 ) Change in fair value of warrants     2,189,986   Balance as of October 31, 2023   $ 4,310,379   Issuance of January 2024 Warrants     480,004   Exercise of warrants     (559,240 ) Change in fair value of warrants     83,080   Balance as of July 31, 2024   $ 4,314,223

Share Capital (Tables)	9 Months Ended
	Jul. 31, 2024
Share Capital [Abstract]
Schedule of the Fair Value of Underwriters Warrants	The fair value of the Underwriter Warrants was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions: Risk-free interest rate     1.43 % Expected life (in years)     5   Expected volatility     150 %

Warrants (Tables)	9 Months Ended
	Jul. 31, 2024
Warrants [Abstract]
Schedule of Warrants	The following table summarizes the changes in the Company’s warrants:     Number of warrants     Historic weighted average exercise price per warrant shares                 Balance, October 31, 2022     19,763       576.66                     Issuance of underwriter warrants     1,923       243.75   Issuance of April 2023 warrants (*)     4,505,718       5.124   Issuance of September 2023 warrants (**)     7,500,000       9.00   Issuance of XYLO warrants     75       1,297.67   Expiration of warrants     (11,430 )     922.98   Exercise of warrants     (784,584 )     5.124                     Balance, October 31, 2023     11,231,465     $ 7.90   Number of shares to be issued from the exercise of these warrants     826,781                             Balance, October 31, 2023     11,231,465     $ 7.90   Issuance of January 2024 warrants (Note 5c)     1,500,000       1.60   Exercise of warrants     (8,148,955 )     2.69   Expiration of warrants     (8,333 )     98.43   Balance, July 31, 2024     4,574,177     $ 1.56   Number of shares to be issued from the exercise of these warrants     2,618,903           (*) These warrants convert into 584,545 shares. (**) These warrants convert into 700,880 shares.
Schedule of Warrants Outstanding	As of July 31, 2024, the following warrants were outstanding: Number of warrants outstanding     Number of shares to be issued from the exercise of warrants (warrant shares)     Exercise price per warrant shares     Exercise price per warrant shares (USD)     Expiry date                             1,923       1,923     C$         336.59     $           243.75     November 17, 2027   807,669       584,545     $ 1.077     $ 1.077     April 5, 2028   75       75     C$ 1,800     $ 1,303.49     November 23, 2024   2,433,030       700,880     $ 1.077     $ 1.077     September 17, 2028   1,331,480       1,331,480     $ 1.60     $ 1.60     January 15, 2029   4,574,177       2,618,903

Stock Options (Tables)	9 Months Ended
	Jul. 31, 2024
Stock Options [Abstract]
Schedule of Changes in Stock Options	The following table summarizes the changes in the Company’s stock options for the periods ended July 31, 2024 and October 31, 2023:     Number of options     Weighted average exercise price (C$)     Weighted average exercise price (USD$)                       Outstanding, October 31, 2022     5,254     C$ 613.5     $ 450.64                             Granted     334       442.22       318.81                             Outstanding, October 31, 2023     5,588     C$ 603.12     $ 434.81                             Expired     (67 )     720.00       533.14                             Outstanding, July 31, 2024     5,521     C$ 601.70     $ 435.73                             Exercisable, July 31, 2024     5,160     C$ 603.20     $ 436.82
Schedule of Additional Information Regarding Stock Options Outstanding	Additional information regarding stock options outstanding as of July 31, 2024, is as follows: Outstanding           Exercisable         Number of stock options     Weighted average remaining contractual life (years)     Weighted average exercise price (C$)     Weighted average exercise price (USD$)     Number of stock options     Weighted average exercise price (C$)     Weighted average exercise price (USD$)                                             533       1.82     C$ 166.50     $ 120.57       533     C$ 166.50     $ 120.57     978       7.51       504.00       364.98       858       504.00       364.98     1,166       1.82       675.00       488.81       1,166       675.00       488.81     200       4.75       702.00       508.36       192       702.00       508.36     133       2.14       747.00       540.95       133       747.00       540.95     422       7.36       612.00       443.19       422       612.00       443.19     1,044       7.51       720.00       521.40       870       720.00       521.40     667       1.92       756.00       547.47       667       756.00       547.47     111       7.36       900.00       651.75       102       900.00       651.75     61       8.82       315.00       228.11       53       315.00       228.11     156       8.91       504.00       364.98       143       504.00       364.98     50       8.94       32.31       23.40       21       32.31       23.40     5,521       4.91     C$ 601.70     $ 435.73       5,160     C$ 603.20     $ 436.82
Schedule of Fair Value of Stock Options	The fair value for stock options previously granted to certain consultants for ongoing services measured during the period have been estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:     Nine months ended July 31, 2024     Nine months ended July 31, 2023                 Risk-free interest rate     4.05 %     3.83 % Expected life (in years)     4.86       5.86   Expected volatility     121.10%-133.14 %     111%-116 %

Restricted Share Units (Tables)	9 Months Ended
	Jul. 31, 2024
Restricted Share Units [Abstract]
Schedule of Continuity of RSUs	The following table summarizes the continuity of RSUs:     Number of RSUs     Weighted average issue price (C$)     Weighted average issue price (USD$)                       Balance, October 31, 2022              –     $          –     $             –                             Granted     2,200       55.97       41.46   Vested     (2,200 )     55.97       41.46                             Balance, October 31, 2023     –     $ –     $ –                             Granted (i)     476,189       1.85       1.34   Vested     (457,981 )     1.86       1.37                             Balance, July 31, 2024     18,208     $ 1.52     $ 1.10   (i) During the nine months ended July 31, 2024, the Company issued 476,189 RSU’s to consultants, directors and officers. 457,981 RSU’s vested with a fair value of $629,720 (2023-$90,598).

Financial Instruments and Risk Management (Tables)	9 Months Ended
	Jul. 31, 2024
Financial Instruments and Risk Management [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	Assets and liabilities measured at fair value on a recurring basis were presented in the Company’s statement of financial position as of July 31, 2024, as follows:     Fair Value Measurements Using             Quoted prices in active markets for identical instruments (Level 1)     Significant other observable inputs (Level 2)     Significant unobservable inputs (Level 3)     Balance July 31, 2024   Derivative warrants liability   $              –     $           –     $ 4,314,223     $ 4,314,223       Fair Value Measurements Using             Quoted prices in active markets for identical instruments (Level 1)     Significant other observable inputs (Level 2)     Significant unobservable inputs (Level 3)     Balance October 31, 2023   Short-term investment   $ 86,112     $            –     $ –     $ 86,112   Derivative warrants liability     –       –       4,310,379       4,310,379
Schedule of Foreign Currency Exchange Risk on Net Working Capital	A 10% weakening of the foreign currency against the functional currencies would have had the equal but opposite effect as of July 31, 2024. Cash and cash equivalents   $ 75,440   Other receivables     62,380   Accounts payable and accrued liabilities     (105,839 ) Due to related parties     (38,577 ) Total foreign currency financial assets and liabilities   $ (6,596 )           Impact of a 10% strengthening or weakening of foreign exchange rate   $ (660 )
Schedule of Contractual Maturities of Financial Liabilities	The following amounts are the contractual maturities of financial liabilities as of July 31, 2024 and October 31, 2023: July 31, 2024   Total     Within 1 year     Within 2-5 years                       Accounts payable and accrued liabilities   $ 276,744     $ 276,744     $          –   Due to related parties     48,577       48,577       –   Lease liability     60,898       35,320       25,578       $ 386,219     $ 360,641     $ 25,578   October 31, 2023   Total     Within 1 year     Within 2-5 years                       Accounts payable and accrued liabilities   $ 617,004     $ 617,004     $                –   Due to related parties     42,433       42,433       –       $ 659,437     $ 659,437     $ –

Nature of Operations and Going Concern (Details) - USD ($)					9 Months Ended
	Jan. 16, 2024	Nov. 28, 2023	Apr. 06, 2023	Nov. 14, 2022	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
Nature of Operations and Going Concern [Abstract]
Incorporation date					Jul. 18, 2017
Aggregate gross proceeds	$ 2,400,000		$ 3,500,000	$ 7,500,000
Cash flow from operations					$ (3,781,514)	$ (5,548,304)
Accumulated deficit					$ (23,137,997)		$ (18,768,063)
Reverse stock split, description		1-for-30 reverse split
Price per share (in Dollars per share)		$ 0.0333

Material Accounting Policy Information (Details)	9 Months Ended
	Jul. 31, 2024
Material Accounting Policy Information [Abstract]
Ownership percentage	100.00%

Short-term Investment (Details) - USD ($)		9 Months Ended
	Feb. 14, 2022	Jul. 31, 2024
Short-term Investment [Line Items]
Investment cost	$ 501,938
Total proceeds		$ 78,500
Net realized loss		$ (7,612)
Ordinary shares [member] | Medigus Ltd [Member]
Short-term Investment [Line Items]
Number of shares issued (in Shares)	27,778

Short-term Investment (Details) - Schedule of Ordinary Shares of Medigus - Medigus Ltd [Member] - USD ($)	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Schedule of Fair Value of Common Shares [Line Items]
Beginning shares	$ 86,112	$ 193,750
Additions / Disposals	78,500
Net realized gain	(7,612)	(107,638)
Ending shares		$ 86,112

Related Party Transactions (Details)						3 Months Ended		9 Months Ended
	Jun. 13, 2024 USD ($) m²	Jun. 13, 2024 ILS (₪) m²	Mar. 31, 2024 USD ($)	Dec. 25, 2023 USD ($) m²	Dec. 25, 2023 ILS (₪) m²	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)
Related Party Transactions [Line Items]
Percentage of joint venture rights								50.00%
Research and development expenses						$ 345,883	$ 263,954	$ 896,317	$ 1,169,156
Owed to the company						108,597		$ 108,597		$ 136,002
Space for office (in Square Meters) | m²	193	193		120	120
Rent expense	$ 3,400	₪ 12,500		$ 6,500	₪ 23,300
Borrowing rate	10.00%	10.00%		10.00%	10.00%
Termination fees			$ 13,000
Fees to broker			$ 3,000
SciSparc Ltd [Member]
Related Party Transactions [Line Items]
Percentage of joint venture rights								50.00%
Research and development expenses						4,080	$ 126,661	$ 26,888	$ 126,661
Owed to the company						$ 108,597		$ 108,597		$ 136,002
Space for office (in Square Meters) | m²	386	386		240	240

Related Party Transactions (Details) - Schedule of Key Management Personnel for Services - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Officers [Member]
Related Party Transaction [Line Items]
Consulting and Directors’ fees	$ 86,792	$ 98,167	$ 335,066	$ 318,668
Share based compensation	103,977	31,709	251,717	107,089
key management personnel compensation	190,769	129,876	586,783	425,757
Directors [Member]
Related Party Transaction [Line Items]
Consulting and Directors’ fees	58,538	41,022	184,063	121,998
Share based compensation	101,157	28,558	310,069	106,682
key management personnel compensation	$ 159,695	$ 69,580	$ 494,132	$ 228,680

Related Party Transactions (Details) - Schedule of Balances with Related Parties - USD ($)	Jul. 31, 2024	Oct. 31, 2023
Schedule of Balances with Related Parties [Line Items]
Balances with related parties	$ 48,577	$ 42,433
Amounts Owed to Officers [Member]
Schedule of Balances with Related Parties [Line Items]
Balances with related parties	29,625	29,666
Amounts Owed to Directors [Member]
Schedule of Balances with Related Parties [Line Items]
Balances with related parties	$ 18,952	$ 12,767

Derivative Warrant Liabilities (Details) - USD ($)							1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 28, 2024	Mar. 22, 2024	Feb. 23, 2024	Jan. 21, 2024	Jan. 16, 2024	Dec. 05, 2023	Jul. 16, 2024	Mar. 22, 2024	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023	Sep. 18, 2023	Apr. 06, 2023
Derivative Warrant Liabilities [Line Items]
Number of warrants shares							138,320
Warrants exercised common share							138,320
Gain on revaluation total derivative warrants liabilities (in Dollars)									$ (643,225)	$ 482,331	$ (83,080)	$ 121,774	$ 2,189,986
April 2023 Warrants [Member]
Derivative Warrant Liabilities [Line Items]
Warrants issued															4,505,718
Warrant price per share (in Dollars per share)				$ 1.077
Convertible common shares	112,975	20,245		0.724		652,521
Number of warrants shares	156,098	27,793				2,729,394
September 2023 Warrants [Member]
Derivative Warrant Liabilities [Line Items]
Warrants issued														7,500,000
Warrant price per share (in Dollars per share)				$ 1.077
Convertible common shares	54,877			0.288
Number of warrants shares	182,144					4,602,916		281,910
Warrants exercised common share						409,667		81,469
January 2024 Warrants [Member]
Derivative Warrant Liabilities [Line Items]
Warrants issued					1,500,000
Warrant price per share (in Dollars per share)					$ 1.6
Number of warrants shares			30,200
Warrants exercised common share			30,200
Gain on revaluation total derivative warrants liabilities (in Dollars)											$ 83,080

Derivative Warrant Liabilities (Details) - Schedule of Binomial Model was used to Measure the Derivative Warrant Liability	9 Months Ended
	Jul. 31, 2024 Duration $ / shares
Schedule of Binomial Model was Used to Measure the Derivative Warrant Liability [Line Items]
Share Price (in Dollars per share)	$ 1.66
Dividend yield	0.00%
Bottom of Range [Member]
Schedule of Binomial Model was Used to Measure the Derivative Warrant Liability [Line Items]
Exercise Price (in Dollars per share)	$ 1.077
Expected life (in Duration) | Duration	3.68
Risk-free interest rate	4.00%
Expected volatility	149.52%
Top of Range [Member]
Schedule of Binomial Model was Used to Measure the Derivative Warrant Liability [Line Items]
Exercise Price (in Dollars per share)	$ 1.6
Expected life (in Duration) | Duration	4.46
Risk-free interest rate	4.07%
Expected volatility	152.96%

Derivative Warrant Liabilities (Details) - Schedule of Changes in the Warrants Liability - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
Schedule of Changes in the Warrants Liability [Line Items]
Balance at beginning			$ 4,310,379
Exercise of warrants					(574,040)
Changes in fair value of warrants	$ (643,225)	$ 482,331	(83,080)	$ 121,774	2,189,986
Balance at ending	4,314,223		4,314,223		4,310,379
April 2023 Warrants [Member]
Schedule of Changes in the Warrants Liability [Line Items]
Issuance of Warrants					1,771,208
September 2023 Warrants [Member]
Schedule of Changes in the Warrants Liability [Line Items]
Issuance of Warrants					$ 923,225
January 2024 Warrants [Member]
Schedule of Changes in the Warrants Liability [Line Items]
Issuance of Warrants			480,004
Exercise of warrants			(559,240)
Changes in fair value of warrants			83,080
Balance at ending	$ 4,314,223		$ 4,314,223

Share Capital (Details)																	1 Months Ended	6 Months Ended	9 Months Ended
	Jul. 04, 2024 USD ($) shares	Jun. 17, 2024 USD ($) shares	May 09, 2024 USD ($) shares	Apr. 03, 2024 USD ($) shares	Mar. 02, 2024 USD ($)	Feb. 19, 2024 USD ($) shares	Jan. 16, 2024 USD ($) $ / shares shares	Dec. 05, 2023 USD ($) shares	Nov. 06, 2023 USD ($) shares	Jun. 10, 2023 USD ($) shares	Jun. 01, 2023 USD ($) shares	May 23, 2023 USD ($) shares	Apr. 06, 2023 USD ($) $ / shares shares	Feb. 22, 2023 USD ($) shares	Jan. 16, 2023 USD ($) shares	Nov. 14, 2022 USD ($) $ / shares shares	Jul. 16, 2024 USD ($) shares	Apr. 30, 2024 USD ($) $ / shares shares	Jul. 31, 2024 USD ($) shares	Jul. 08, 2024 shares	Jun. 29, 2024 shares	Oct. 31, 2023 shares	Nov. 17, 2022 USD ($)
Share Capital [Line Items]
Common shares fair value (in Dollars) | $						$ 68			$ 117			$ 27,965
Number of warrant shares																	138,320
Gross proceeds (in Dollars) | $					$ 157,918		$ 2,400,000
Underwritten public offering							1,468,000						103,249
Warrants purchase													46,942
Purchase common shares							1,500,000
Unregistered common warrants							1,500,000
Expire term							5 years
Net proceeds from offering (in Dollars) | $							$ 1,824,773											$ 2,936,079
Exercised shares					131,914
Fair value of RSU (in Dollars) | $	$ 103,387	$ 243,003	$ 127	$ 11,935						$ 10,000	$ 48,194	1,494		$ 110,096	$ 39,975				$ 256,252
Issuance of common share																38,462
Purchase price per share (in Dollars per share) | $ / shares																		$ 195
Aggregate gross proceeds (in Dollars) | $							$ 2,400,000						$ 3,500,000			$ 7,500,000
Additional common shares																		5,769
Common shares percentage																		15.00%
Received underwriter warrants																		1,923
Fair value of underwriter warrants (in Dollars) | $																		$ 337,579
Public per share (in Dollars per share) | $ / shares													$ 23.4
Pre-funded warrants purchased (in Dollars per share) | $ / shares													23.37
Pre-funded warrants were exercisable (in Dollars per share) | $ / shares													0.03
Exercise price per common share (in Dollars per share) | $ / shares													$ 23.4
Fair value issued (in Dollars) | $												$ 110,000
Common Shares [Member]
Share Capital [Line Items]
Number of shares outstanding																			3,979,243			607,337
Number of shares issued	64,617		88	9,000		44			45	597	245	239		400	161				3,979,243	134,868		607,337
Purchase common shares							32,000
Purchase price per share (in Dollars per share) | $ / shares																$ 195
Net proceeds from offering post (in Dollars) | $																							$ 6,363,906
Payment per share (in Dollars per share) | $ / shares																		$ 243.75
Medigus SPA [Member]
Share Capital [Line Items]
Number of shares issued																					1,494
Warrants [Member]
Share Capital [Line Items]
Exercise price (in Dollars per share) | $ / shares							$ 1.6
Common Shares [Member]
Share Capital [Line Items]
Number of shares issued		162,970
April 2023 Warrants [Member]
Share Capital [Line Items]
Number of warrant shares								1,062,188
September 2023 Warrants [Member]
Share Capital [Line Items]
Gross proceeds (in Dollars) | $								$ 3,498,032
Pre-Funded Warrants [Member]
Share Capital [Line Items]
Warrants purchase							32,000
Exercise price (in Dollars per share) | $ / shares							$ 0.0001
April 2023 Public Offering Warrant [Member]
Share Capital [Line Items]
Number of warrant shares																	306,172
Gross proceeds (in Dollars) | $																	$ 402,206
Expire term													5 years
Warrants [Member]
Share Capital [Line Items]
Number of shares issued																					75

Share Capital (Details) - Schedule of the Fair Value of Underwriters Warrants - Option pricing model [member]	9 Months Ended
	Jul. 31, 2024
Schedule of the Fair Value of Underwriters Warrants [Line Items]
Risk-free interest rate	1.43%
Expected life (in years)	5
Expected volatility	150.00%

Warrants (Details)	9 Months Ended
	Jul. 31, 2024 shares
April 2023 Warrants [Member]
Share Purchase Warrants [Line Items]
Warrants converted into shares	584,545
September 2023 Warrant [Member]
Share Purchase Warrants [Line Items]
Warrants converted into shares	700,880

Warrants (Details) - Schedule of Warrants		9 Months Ended	12 Months Ended
		Jul. 31, 2024 $ / shares shares	Oct. 30, 2023 $ / shares shares
Schedule of Warrants [Abstract]
Number of share, Balance beginning		11,231,465	19,763
Historic weighted average price, Balance beginning (in Dollars per share) | $ / shares		$ 7.9	$ 576.66
Number of warrants, Issuance of underwriter warrants			1,923
Historic weighted average exercise price, Issuance of underwriter warrants			243.75
Number of warrants, Issuance of warrants		1,500,000	4,505,718	[1]
Historic weighted average exercise price, Issuance of warrants (in Dollars per share) | $ / shares		$ 1.6	$ 5.124	[1]
Number of warrants, Issuance of warrants	[2]		7,500,000
Historic weighted average exercise price, Issuance of warrants (in Dollars per share) | $ / shares	[2]		$ 9
Number of warrants, Issuance of XYLO warrants			75
Historic weighted average exercise price, Issuance of XYLO warrants			1,297.67
Number of warrants, Expiration of warrants		(8,333)	(11,430)
Historic weighted average exercise price, Expiration of warrants		98.43	922.98
Number of warrants, Exercise of warrants		(8,148,955)	(784,584)
Historic weighted average exercise price, Exercise of warrants (in Dollars per share) | $ / shares		$ 2.69	$ 5.124
Number of share, Balance ending		4,574,177	11,231,465
Historic weighted average price, Balance ending (in Dollars per share) | $ / shares		$ 1.56	$ 7.9
Number of warrants, Number of shares to be issued from the exercise of warrants		2,618,903
Number of warrants, Number of shares to be issued from the exercise of warrants		826,781
[1] These warrants convert into 584,545 shares. [2] These warrants convert into 700,880 shares.

Warrants (Details) - Schedule of Warrants Outstanding	12 Months Ended
	Jul. 31, 2024 $ / shares shares	Jul. 31, 2024 $ / shares shares
Schedule of Warrants Were Outstanding [Line Items]
Number of warrants outstanding	4,574,177	4,574,177
Number of shares to be issued from the exercise of warrants (warrant shares)	2,618,903	2,618,903
Expiry date November 17, 2027 [Member]
Schedule of Warrants Were Outstanding [Line Items]
Number of warrants outstanding	1,923	1,923
Number of shares to be issued from the exercise of warrants (warrant shares)	1,923	1,923
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares	$ 243.75
Expiry date	Nov. 17, 2027
Expiry date November 17, 2027 [Member] | Canada, Dollars
Schedule of Warrants Were Outstanding [Line Items]
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares		$ 336.59
Expiry date April 5, 2028 [Member]
Schedule of Warrants Were Outstanding [Line Items]
Number of warrants outstanding	807,669	807,669
Number of shares to be issued from the exercise of warrants (warrant shares)	584,545	584,545
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares	$ 1.077
Expiry date	Apr. 05, 2028
Expiry date April 5, 2028 [Member] | Canada, Dollars
Schedule of Warrants Were Outstanding [Line Items]
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares		$ 1.077
Expiry date November 23, 2024 [Member]
Schedule of Warrants Were Outstanding [Line Items]
Number of warrants outstanding	75	75
Number of shares to be issued from the exercise of warrants (warrant shares)	75	75
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares	$ 1,303.49
Expiry date	Nov. 23, 2024
Expiry date November 23, 2024 [Member] | Canada, Dollars
Schedule of Warrants Were Outstanding [Line Items]
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares		$ 1,800
Expiry date September 17, 2028 [Member]
Schedule of Warrants Were Outstanding [Line Items]
Number of warrants outstanding	2,433,030	2,433,030
Number of shares to be issued from the exercise of warrants (warrant shares)	700,880	700,880
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares	$ 1.077
Expiry date	Sep. 17, 2028
Expiry date September 17, 2028 [Member] | Canada, Dollars
Schedule of Warrants Were Outstanding [Line Items]
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares		$ 1.077
Expiry date January 15, 2029 [Member]
Schedule of Warrants Were Outstanding [Line Items]
Number of warrants outstanding	1,331,480	1,331,480
Number of shares to be issued from the exercise of warrants (warrant shares)	1,331,480	1,331,480
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares	$ 1.6
Expiry date	Jan. 15, 2029
Expiry date January 15, 2029 [Member] | Canada, Dollars
Schedule of Warrants Were Outstanding [Line Items]
Exercise price per warrant shares (in Dollars per share and Dollars per share) | $ / shares		$ 1.6

Stock Options (Details) - USD ($)		3 Months Ended		9 Months Ended
	Nov. 14, 2023	Jul. 30, 2024	Jul. 30, 2023	Jul. 31, 2024	Jul. 31, 2023
Stock Options [Line Items]
Issued and outstanding common shares	20.00%			2.00%
Options vest expiration	10 years
Share-based compensation expense		$ 14,879	$ 59,513	$ 71,793	$ 181,448
Bottom of Range [Member]
Stock Options [Line Items]
Issued and outstanding common shares				5.00%
Top of range [Member]
Stock Options [Line Items]
Issued and outstanding common shares				15.00%

Stock Options (Details) - Schedule of Changes in Stock Options	9 Months Ended		12 Months Ended
	Jul. 31, 2024 $ / shares	Jul. 31, 2024 $ / shares $ / shares	Oct. 31, 2023 $ / shares	Oct. 31, 2023 $ / shares	Jul. 31, 2024 $ / shares
Schedule of Changes in Stock Options [Abstract]
Number of options Outstanding, Beginning balance	5,588	5,588	5,254	5,254
Weighted average exercise price Outstanding, Beginning balance | (per share)	$ 434.81	$ 603.12	$ 450.64	$ 613.5
Number of options, Granted			334	334
Weighted average exercise price, Granted | (per share)			$ 318.81	$ 442.22
Number of options Outstanding, Ending balance	5,521	5,521	5,588	5,588
Weighted average exercise price Outstanding, Ending balance | (per share)	$ 435.73	$ 601.7	$ 434.81	$ 603.12
Number of options Outstanding, Exercisable	5,160	5,160			5,160
Weighted average exercise price Outstanding, Exercisable | (per share)	$ 436.82	$ 436.82			$ 603.2
Number of options, Expired	(67)	(67)
Weighted average exercise price, Expired | (per share)	$ 533.14	$ 720

Stock Options (Details) - Schedule of Additional Information Regarding Stock Options Outstanding	9 Months Ended
	Jul. 31, 2024 $ / shares	Jul. 31, 2024 $ / shares
Stock Outstanding [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	5,521	5,521
Weighted average remaining contractual life (years) Outstanding	4 years 10 months 28 days
Weighted average exercise price Outstanding | (per share)	$ 435.73	$ 601.7
Stock Outstanding [Member] | 533 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	533	533
Weighted average remaining contractual life (years) Outstanding	1 year 9 months 25 days
Weighted average exercise price Outstanding | (per share)	$ 120.57	$ 166.5
Stock Outstanding [Member] | 978 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	978	978
Weighted average remaining contractual life (years) Outstanding	7 years 6 months 3 days
Weighted average exercise price Outstanding | (per share)	$ 364.98	$ 504
Stock Outstanding [Member] | 1,166 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	1,166	1,166
Weighted average remaining contractual life (years) Outstanding	1 year 9 months 25 days
Weighted average exercise price Outstanding | (per share)	$ 488.81	$ 675
Stock Outstanding [Member] | 200 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	200	200
Weighted average remaining contractual life (years) Outstanding	4 years 9 months
Weighted average exercise price Outstanding | (per share)	$ 508.36	$ 702
Stock Outstanding [Member] | 133 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	133	133
Weighted average remaining contractual life (years) Outstanding	2 years 1 month 20 days
Weighted average exercise price Outstanding | (per share)	$ 540.95	$ 747
Stock Outstanding [Member] | 422 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	422	422
Weighted average remaining contractual life (years) Outstanding	7 years 4 months 9 days
Weighted average exercise price Outstanding | (per share)	$ 443.19	$ 612
Stock Outstanding [Member] | 1,044 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	1,044	1,044
Weighted average remaining contractual life (years) Outstanding	7 years 6 months 3 days
Weighted average exercise price Outstanding | (per share)	$ 521.4	$ 720
Stock Outstanding [Member] | 667 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	667	667
Weighted average remaining contractual life (years) Outstanding	1 year 11 months 1 day
Weighted average exercise price Outstanding | (per share)	$ 547.47	$ 756
Stock Outstanding [Member] | 111 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	111	111
Weighted average remaining contractual life (years) Outstanding	7 years 4 months 9 days
Weighted average exercise price Outstanding | (per share)	$ 651.75	$ 900
Stock Outstanding [Member] | 61 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	61	61
Weighted average remaining contractual life (years) Outstanding	8 years 9 months 25 days
Weighted average exercise price Outstanding | (per share)	$ 228.11	$ 315
Stock Outstanding [Member] | 156 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	156	156
Weighted average remaining contractual life (years) Outstanding	8 years 10 months 28 days
Weighted average exercise price Outstanding | (per share)	$ 364.98	$ 504
Stock Outstanding [Member] | 50 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Outstanding	50	50
Weighted average remaining contractual life (years) Outstanding	8 years 11 months 8 days
Weighted average exercise price Outstanding | (per share)	$ 23.4	$ 32.31
Stock Exercisable [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	5,160	5,160
Weighted average exercise price, Exercisable | (per share)	$ 436.82	$ 603.2
Stock Exercisable [Member] | 533 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	533	533
Weighted average exercise price, Exercisable | (per share)	$ 120.57	$ 166.5
Stock Exercisable [Member] | 978 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	858	858
Weighted average exercise price, Exercisable | (per share)	$ 364.98	$ 504
Stock Exercisable [Member] | 1,166 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	1,166	1,166
Weighted average exercise price, Exercisable | (per share)	$ 488.81	$ 675
Stock Exercisable [Member] | 200 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	192	192
Weighted average exercise price, Exercisable | (per share)	$ 508.36	$ 702
Stock Exercisable [Member] | 133 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	133	133
Weighted average exercise price, Exercisable | (per share)	$ 540.95	$ 747
Stock Exercisable [Member] | 422 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	422	422
Weighted average exercise price, Exercisable | (per share)	$ 443.19	$ 612
Stock Exercisable [Member] | 1,044 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	870	870
Weighted average exercise price, Exercisable | (per share)	$ 521.4	$ 720
Stock Exercisable [Member] | 667 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	667	667
Weighted average exercise price, Exercisable | (per share)	$ 547.47	$ 756
Stock Exercisable [Member] | 111 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	102	102
Weighted average exercise price, Exercisable | (per share)	$ 651.75	$ 900
Stock Exercisable [Member] | 61 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	53	53
Weighted average exercise price, Exercisable | (per share)	$ 228.11	$ 315
Stock Exercisable [Member] | 156 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	143	143
Weighted average exercise price, Exercisable | (per share)	$ 364.98	$ 504
Stock Exercisable [Member] | 50 [Member]
Schedule of Additional Information Regarding Stock Options Outstanding [Line Items]
Number of stock options, Exercisable	21	21
Weighted average exercise price, Exercisable | (per share)	$ 23.4	$ 32.31

Stock Options (Details) - Schedule of Fair Value of Stock Options - Black-Schole option pricing model [Member]	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Schedule of Fair Value of Stock Options [Line Items]
Risk-free interest rate	4.05%	3.83%
Expected life (in years)	4.86	5.86
Bottom of Range [Member]
Schedule of Fair Value of Stock Options [Line Items]
Expected volatility	121.10%	111.00%
Top of Range [Member]
Schedule of Fair Value of Stock Options [Line Items]
Expected volatility	133.14%	116.00%

Restricted Share Units (Details) - USD ($)	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Restricted Share Units [Line Items]
Fair value	$ 629,720	$ 90,598
RSU's [Member]
Restricted Share Units [Line Items]
Restricted shares units, issued	457,981
Consultants, Directors and Officers [Member] | RSU's [Member]
Restricted Share Units [Line Items]
Restricted shares units, issued	476,189

Restricted Share Units (Details) - Schedule of Continuity of RSUs - Restricted Stock Units [Member]	9 Months Ended				12 Months Ended
	Jul. 31, 2024 $ / shares		Jul. 31, 2024 $ / shares $ / shares		Oct. 31, 2023 $ / shares	Oct. 31, 2023 $ / shares $ / shares	Jul. 31, 2024 $ / shares	Oct. 31, 2023 $ / shares
Schedule of Continuity of RSUs [Line Items]
Number of share, Balance beginning
Weighted average price, Balance beginning | (per share)	$ 1.1		$ 1.1				$ 1.52
Number of RSUs, Granted	476,189	[1]	476,189	[1]	2,200	2,200
Weighted average issue price, Granted | (per share)	$ 1.34	[1]	$ 1.85	[1]	$ 41.46	$ 55.97
Number of RSUs, Vested	(457,981)		(457,981)		(2,200)	(2,200)
Weighted average issue price, Vested | (per share)	$ 1.37		$ 1.86		$ 41.46	$ 55.97
Number of share, Balance ending	18,208		18,208
Weighted average price, Balance ending | (per share)	$ 1.1		$ 1.1				$ 1.52
[1] During the nine months ended July 31, 2024, the Company issued 476,189 RSU’s to consultants, directors and officers. 457,981 RSU’s vested with a fair value of $629,720 (2023-$90,598).

Financial Instruments and Risk Management (Details)	9 Months Ended
	Jul. 31, 2024
Financial Instruments and Risk Management [Line Items]
Foreign currency, percentage	10.00%
Foreign Exchange Rate Risk [Member]
Financial Instruments and Risk Management [Line Items]
Foreign currency, percentage	10.00%

Financial Instruments and Risk Management (Details) - Schedule of Assets and Liabilities Measured at Fair Value - USD ($)	Jul. 31, 2024	Oct. 31, 2023
Schedule of Assets and Liabilities Measured at Fair Value [Line Items]
Derivative warrants liability	$ 4,314,223	$ 4,310,379
Short-term investment		86,112
Quoted prices in active markets for identical instruments (Level 1) [Member]
Schedule of Assets and Liabilities Measured at Fair Value [Line Items]
Derivative warrants liability
Short-term investment		86,112
Significant other observable inputs (Level 2) [Member]
Schedule of Assets and Liabilities Measured at Fair Value [Line Items]
Derivative warrants liability
Short-term investment
Significant unobservable inputs (Level 3) [Member]
Schedule of Assets and Liabilities Measured at Fair Value [Line Items]
Derivative warrants liability	$ 4,314,223	4,310,379
Short-term investment

Financial Instruments and Risk Management (Details) - Schedule of Foreign Currency Exchange Risk on Net Working Capital - Foreign Exchange Rate Risk [Member]	9 Months Ended
	Jul. 31, 2024 USD ($)
Financial Instruments And Risk Management [Line Items]
Cash and cash equivalents	$ 75,440
Other receivables	62,380
Accounts payable and accrued liabilities	(105,839)
Due to related parties	(38,577)
Total foreign currency financial assets and liabilities	(6,596)
Impact of a 10% strengthening or weakening of foreign exchange rate	$ (660)

Financial Instruments and Risk Management (Details) - Schedule of Foreign Currency Exchange Risk on Net Working Capital (Parentheticals)	9 Months Ended
	Jul. 31, 2024
Foreign Exchange Rate Risk [Member]
Financial Instruments And Risk Management [Line Items]
Impact of a strengthening or weakening of foreign exchange rate	10.00%

Financial Instruments and Risk Management (Details) - Schedule of Contractual Maturities of Financial Liabilities - USD ($)	Jul. 31, 2024	Oct. 31, 2023
Financial Instruments and Risk Management [Line Items]
Accounts payable and accrued liabilities	$ 276,744	$ 617,004
Due to related parties	48,577	42,433
Lease liability	60,898
Total	386,219	659,437
Within 1 year [Member]
Financial Instruments and Risk Management [Line Items]
Accounts payable and accrued liabilities	276,744	617,004
Due to related parties	48,577	42,433
Lease liability	35,320
Total	360,641	659,437
Within 2-5 years [Member]
Financial Instruments and Risk Management [Line Items]
Accounts payable and accrued liabilities
Due to related parties
Lease liability	25,578
Total	$ 25,578

Commitments (Details) - USD ($)	Mar. 30, 2024	Mar. 19, 2024	Jan. 15, 2024
Commitments [Line Items]
Percentage of royalties	3.00%	3.00%	2.50%
Annual license fee	$ 25,000	$ 25,000
Payment from company	600,000	600,000
Bottom of range [Member]
Commitments [Line Items]
Annual license fee	35,000	35,000
Top of range [Member]
Commitments [Line Items]
Annual license fee	50,000	50,000
Yissum Research Development Company [Member]
Commitments [Line Items]
Payment from company	$ 400,000	$ 400,000

Subsequent Events (Details) - Subsequent Events [Member]	Aug. 12, 2024 USD ($)
Subsequent Events [Line Items]
Gross proceeds	$ 74,999
April 2023 Warrants [Member]
Subsequent Events [Line Items]
Warrants exercised	69,592

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