Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 376

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 376
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 Trade and other payables, accrued expenses and other current
liabilities

    June 30, 2025  
    June 30, 2024 

    (in thousands) 
  
    Current liabilities 

    Trade payables 
     6,074  
     527 
  
    Contract liabilities 
     30  
     85 
  
    Total trade and other payables 
     6,104  
     612 

    Accrued expenses 
     661  
     4,512 
  
    Employee leave entitlements 
     35  
     333 
  
    Total accrued expenses and other current liabilities 
     696  
     4,845 
  
    Total trade and other payables, accrued expenses and other current liabilities 
     6,800  
     5,457 

F-15

Trade and other payables are unsecured, non-interest
bearing and are normally settled within 30 days. The carrying amounts are a reasonable approximation of fair value.

Note 7 - Leases

As of June 30, 2025, the Company has three lease
agreements for its corporate head office in Sydney and two sites in Melbourne (an office and the Clarion Clinic). The leases have original
terms of approximately four, five and three years, respectively, require monthly payments that may be subject to annual increases, and
include certain renewal options. The Company did not include the renewal periods in measuring the related right-of-use assets and lease
liabilities because it was not reasonably certain that the options would be exercised.

The following table summarizes the weighted-average
remaining lease term and discount rates for the Company’s operating leases:

     June 30, 2025   June 30, 2024   Lease term (years)   1.32    2.32                Discount rate   9.18%   9.18% 

The following table summarizes the lease costs
pertaining to the Company’s operating leases:

    June 30, 2025  
    June 30, 2024 
  
    Operating lease cost 
     203  
     172 

Cash paid for amounts included in the measurement
of operating lease liabilities during the fiscal years ended June 30, 2025 and 2024 was $203,000 and $172,000, respectively, and was