Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 836

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7
Chunk 836
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 growth company
such as us to take advantage of an extended transition period to comply with new or revised accounting standards. We have elected to
avail ourselves of such extended transition period, which means that when a standard is issued or revised and it has different application
dates for public or private companies, we can adopt the new or revised standard at the time private companies adopt the new or revised
standard and may do so until such time that we either (i) irrevocably elect to opt out of such extended transition period or (ii) no
longer qualify as an emerging growth company. We may choose to early adopt any new or revised accounting standards whenever such early
adoption is permitted for private companies.

We will continue to remain
an emerging growth company until the earliest of the following:

●the last day of the fiscal year following the fifth anniversary of
the date of the completion of the first sale of common equity securities pursuant to an effective registration statement under the Securities
Act;

●the last day of the fiscal year in which our total annual gross
                                            revenue is equal to or more than $1.235 billion;

●the date on which we have issued more than $1.0 billion in nonconvertible
                                            debt during the previous three years; or

●the date on which we are deemed to be a large accelerated filer
                                            under the rules of the SEC.

We are also a smaller reporting company as defined
in the Exchange Act. We may continue to be a smaller reporting company even after we are no longer an emerging growth company. We may
take advantage of certain of the scaled disclosures available to smaller reporting companies and will be able to take advantage of these
scaled disclosures for so long as our voting and non-voting common stock held by non-affiliates is less than $250.0 million measured
on the last business day of our second fiscal quarter, or our annual revenue is less than $100.0 million during the most recently completed
fiscal year and our voting and non-voting common stock held by non-affiliates is less than $700.0 million measured on the last business
day of our second fiscal quarter.

Item 7A. Quantitative and Qualitative Disclosures About Market
Risk

We are a smaller reporting company as defined
by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

91

Item 8. Financial Statements and Supplementary
Data

INDEX TO CONSOLIDATED FINANC