Company: IXHL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043682
Chunk: 18

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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aining to the Company’s operating leases:

    March 31,  2025 $  
    June 30,  2024 $ 

    (in thousands) 
  
    Operating lease cost 
     146  
     172 

Cash paid for amounts included in the measurement
of operating lease liabilities during the three months ended March 31, 2025 and fiscal year June 30, 2024 was $146 and $172 respectively,
and was included within net cash used in operating activities in the cash flows.

The following table summarizes the future minimum
lease payments due under operating leases as of March 31, 2025, (in thousands):

    Operating leases 
    Amount $  (in thousands) 
  
    June 30, 2025 
     50 
  
    June 30, 2026 
     191 
  
    June 30, 2027 
     46 
  
    June 30, 2028 
     31 

    Total minimum lease payments 
     318 

    Less amount representing interest 
     27 

    Total operating lease liabilities 
     291 

As of March 31, 2025, the Company’s operating
lease has a weighted-average remaining lease term of 1.57 years and a discount rate of 9.18%.

12

Note 9 – Commitments and contingencies

The Company records a loss contingency when it
is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company also discloses material
contingencies when it believes a loss is not probable but reasonably possible. Accounting for contingencies requires the Company to use
judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. Although the Company cannot predict
with assurance the outcome of any litigation or tax matters, it does not believe there are currently any such actions that, if resolved
unfavorably, would have a material impact on the Company’s operating results, financial position or cash flows.

Note 10 – Stockholder’s equity/Issued capital

Common Stock

The Company has one class of common stock. In connection
with the re-domiciliation, the Company’s amended and restated certificate of incorporation became effective, which provides for
authorized the issuance of 100,000,000 authorized shares of common stock with a par value of $0.0001 per share, with one vote