Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 234

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 234
---
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 included
within net cash used in operating activities in the cash flows.

The following table summarizes the future minimum
lease payments due under operating leases as of June 30, 2025, (in thousands):

    Operating leases 
    Amount $ 
(in thousands) 
  
    June 30, 2026 
     199 
  
    June 30, 2027 
     48 
  
    June 30, 2028 
     32 

    Total minimum lease payments 
     279 

    Less amount representing interest 
     21 

    Total operating lease liabilities 
     258 

Note 8 - Commitments and contingencies

The Company records a loss contingency when it
is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company also discloses material
contingencies when it believes a loss is not probable but reasonably possible. Accounting for contingencies requires us to use judgment
related to both the likelihood of a loss and the estimate of the amount or range of loss. Although the Company cannot predict with assurance
the outcome of any litigation or tax matters, it does not believe there are currently any such actions that, if resolved unfavorably,
would have a material impact on the Company’s operating results, financial position or cash flows.

F-16

Note 9 - Stockholder’s equity/Issued capital

Common stock

The Company has one class of common stock. In connection
with the redomiciliation, the Company’s amended and restated certificate of incorporation became effective, which originally provided
for the issuance of 100 million authorized shares of common stock with a par value of $0.0001 per share, with one vote per share. Holders
of common stock are entitled to receive