Company: IXHL
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013783
Chunk: 61

Company: Incannex Healthcare Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 61
---
Notes To Unaudited Condensed Consolidated Financial
Statements
(in thousands, except share and per share amounts)

(expressed
in U.S. Dollars, unless otherwise stated)

Note 1 – Re-domiciliation and Business

Incannex Healthcare Inc.
(the “Company”) is a corporation formed under the laws of Delaware in July 2023. In November 2023, Incannex Healthcare Inc.
acquired all the outstanding ordinary shares of Incannex Healthcare Limited, an Australian corporation (“Incannex Australia”),
pursuant to a scheme of arrangement under Australian law (the “Re-domiciliation”). As a result of the Re-domiciliation, Incannex
Australia became a wholly-owned subsidiary of Incannex Healthcare Inc., which is the new ultimate parent company.

Until the Re-domiciliation,
Incannex Australia’s ordinary shares were listed on the Australian Securities Exchange (“ASX”) and American Depositary
Shares (“ADSs”), each representing 25 ordinary shares of Incannex Australia, traded on Nasdaq. Following completion of the
Re-domiciliation, Incannex Australia’s ordinary shares were delisted from the ASX and Incannex Healthcare Inc. assumed Incannex
Australia’s listing on Nasdaq.

Pursuant to the Re-domiciliation, holders of Incannex Australia’s
ordinary shares received one share of Common Stock in Incannex Healthcare Inc. for every 100 ordinary shares held in Incannex Australia
and holders of ADSs in Incannex Australia received one share of Common Stock of Incannex Healthcare Inc. for every 4 ADSs held in Incannex
Australia.

The issued and outstanding
shares of the Company’s Common Stock as shown in this report have been adjusted in the consolidated financial statements to reflect
the 100:1 exchange ratio as if it had occurred on July 1, 2022.

Incannex Healthcare Inc.
and its subsidiaries are referred to as “the Company” unless the text otherwise requires.

The Company’s fiscal
year end is June 30. References to a particular “fiscal year” are to the Company’s fiscal year ended June 30 of that
calendar year.

The unaudited condensed
consolidated financial statements of the Company are presented in United States dollars and consist of Incannex Healthcare Inc. and the
following wholly-owned subsidiaries:

  Subsidiary   Jurisdiction  Incannex Healthcare Limited   Victoria, Australia  Incannex Pty Ltd