Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 123

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 123
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daq market tiers, including the Nasdaq Capital Market, impose a minimum
$1.00 per share bid price requirement. To comply with this requirement, the closing price for our common stock must not fall below $1.00
for a 30 consecutive trading day period. Since early March of 2025, the closing bid price for our common stock has consistently been below
$1.00 per share, and on April 23, 2025, we received a written notice (the “Notice”) from the Listing Qualifications Department
(the “Staff”) of Nasdaq notifying the us that, because the closing bid price for our common stock, closed below $1.00 per
share for 30 consecutive trading days, we no longer met the minimum bid price requirement for continued inclusion on Nasdaq pursuant to
Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”). The Staff provided us with an initial grace period expiring
on October 20, 2025. To regain compliance the closing price of our common stock must exceed a minimum of $1.00 per share for at least
10 consecutive trading days and potentially 20 consecutive trading days in the discretion of the Staff. On or following October 20, 2025,
the Staff may provide us with an additional 180-day compliance period in which we may seek to regain compliance with the Minium Bid Price
Rule, but there can be no guarantee that such an additional compliance period will be granted or that we will regain compliance within
this additional 180-day compliance period. 

44

In
the event of a delisting notice, we would typically have an opportunity to appeal such decision to the Nasdaq Hearing Panel or take other
measures to preserve the listing of our common stock on Nasdaq, but these measures and any appeal may not be successful. If our common
stock is delisted by Nasdaq, our common stock may be eligible to trade on an over-the-counter quotation system, where an investor may
find it more difficult to sell our common stock or obtain accurate quotations as to the market value of our common stock. 

In
the event we are delisted from Nasdaq, the only established trading market for our common stock would be eliminated, and we would be
forced to list our shares on the OTC Markets or another quotation medium, depending on our ability to meet the specific listing requirements
of those quotation systems. As a result, an investor would likely find it more difficult to trade