Company: IXHL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110299
Chunk: 94

Company: Incannex Healthcare Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 4
Chunk 94
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 and (c) conducting internal control training
to management, key operations personnel and the accounting department, so that management and relevant personnel understand the requirements
and elements of internal control over financial reporting mandated by the US securities laws.

We believe we have made
progress in accordance with our remediation plan even though the material weaknesses will not be considered remediated until we have
completed implementing the necessary additional applicable controls and operate with them for a sufficient period of time to allow management
and our auditors to concluded that these controls are operating effectively.

We cannot determine when
our remediation plan will be fully completed and we cannot provide any assurance that these remediation efforts will be successful or
that our internal control over financial reporting will be effective as a result of these efforts.

Changes in Internal Control over Financial
Reporting

Other than the remediation
of the material weakness discussed above, there were no changes in our internal controls over financial reporting (as such term is defined
in Rules 13a-15(d) and 15d-15(d) under the Exchange Act) that occurred during three months ended September 30, 2025 that have materially
affected, or are reasonably likely to materially affect, our internal control over financial reporting.

23

PART II—OTHER INFORMATION

Item 1. Legal Proceedings

From time to time, we may become involved in litigation
or other legal proceedings arising in the ordinary course of our business. We are not currently a party to any material litigation or
legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of
outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, negative
publicity, reputational harm and other factors.

Item 1A. Risk Factors

There have been no material changes to the risk
factors set forth in Part I, Item 1A, “Risk Factors,” of the 2025 Annual Report.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Not applicable.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Rule 10b5-1 trading arrangements

During the three months ended September 30, 2025,
none of our directors or officers adopted or terminated “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading
arr