Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 236

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 236
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 reserve is used to record the value of equity issued to raise capital, and for stock-based payments.

Note 11 - General and Administration expenses

    June 30, 2025  
    June 30, 2024 

    (in thousands) 
  
    Salaries, and other employee benefits 
     (4,217) 
     (2,809)
  
    Stock-based payments expense 
     (2,609) 
     (8,928)
  
    Depreciation expense 
     (246) 
     (103)
  
    Compliance, legal and regulatory 
     (3,939) 
     (3,108)
  
    Occupancy expenses 
     (390) 
     (348)
  
    Advertising and investor relations 
     (795) 
     (1,055)
  
    Other administration expenses 
     (932) 
     (823)
  
    Total general and administration expenses 
     (13,128) 
     (17,174)

F-17

Note 12 - Stock-based payments

    June 30, 2025  
    June 30, 2024 

    (in thousands) 
  
    Research and development 
     -  
     - 
  
    General and administrative 
     (2,609) 
     (8,928)
  
    Total stock-based compensation expense 
     (2,609) 
     (8,928)

Restricted stocks

A summary of the changes in the Company’s
restricted stock activity for the fiscal year ended June 30, 2025, are as follows:

    Numbers of
 Shares  
    Weighted
 Average
 Grant Date
 Fair Value
 $ 
  
    Unvested and Outstanding as of June 30, 2024 
     651,939  
     3.91 
  
    Granted 
     40,739,093  
     0.23 
  
    Vested 
     (623,984) 
     3.97 
  
    Forfeited 
     -  
     - 
  
    Unvested and Outstanding as of June 30, 2025 
     40,767,047  
     0.23 

Stock Options

A summary of the changes in the Company’s
stock options activity for the fiscal year ended June 30,