Company: IXHL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110299
Chunk: 16

Company: Incannex Healthcare Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 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 September 30, 2025, (in thousands):

    Operating leases 
    Amount $  (in thousands) 
  
    June 30, 2026 
     147 
  
    June 30, 2027 
     48 
  
    June 30, 2028 
     32 

    Total minimum lease payments 
     227 

    Less amount representing interest 
     (16)

    Total operating lease liabilities 
     211 

As of September 30, 2025, the Company’s operating
lease has a weighted-average remaining lease term of 1.07 years and a discount rate of 9.18%.

Note 8 – 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 9 – Stockholder’s equity/Issued capital

Common Stock

The Company has one class of common stock. The Company’s amended
and restated certificate of incorporation provides for the issuance of 800,000,000 authorized shares of common stock with a par value
of $0.0001 per share, with one vote per share. Holders of common stock are entitled to receive any dividends as may be declared from time
to time by the Company’s board of directors.

Note 10 – Stock-based payments

    For the three months ended  September 30, 

    2025
$  
    2024
$ 

    (in thousands) 
  
    Research and development 
     -  
     - 
  
    General and administrative 
     2,626  
     459 
  
    Total stock-based compensation expense 
     2,626  
     459 

14

Note