Company: IXHL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043682
Chunk: 21

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 21
---
4   235,008    28.00    1.93    -   Granted   -    -    -    -   Exercised   -    -    -    -   Cancelled or forfeited   -    -    -    -   Outstanding as of December 31, 2024   235,008    28.00    1.43    -   Unvested as of December 31, 2024   14,001    24.26    3.50    -  

     Number of Shares   Weighted Average Exercise Price ($)   Weighted Average Remaining Contractual Term  (Years)   Aggregate Intrinsic Value  (in thousands) ($)   Outstanding as of December 31, 2024   235,008    28.00    1.43    -   Granted   -    -    -    -   Exercised   -    -    -    -   Cancelled or forfeited   -    -    -    -   Outstanding as of March 31, 2025   235,008    28.00    1.43    -   Unvested as of March 31, 2025   14,001    24.26    3.50    -  

The aggregate intrinsic value of share options
is calculated as the difference between the exercise price of the share options and the fair value of the Company’s shares of common
stock for those share options that had exercise prices lower than the fair value of the Company’s shares of common stock.

As of March 31, 2025, there was $57 of unrecognized
compensation cost related to unvested share options, which is expected to be recognized over a weighted-average period of 0.3 years. 

15

Note 12 – Fair value of Financial
Instruments

Cash and cash equivalents, accounts receivable (including assets pledged
as security for short-term debt and R&D tax incentive receivable), prepaid expenses and other current