Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 207

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 207
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 going concern. Although we have not yet established an ongoing
source of revenue sufficient to cover all operating and capital expenditure requirements, including any potential payments pursuant to
debentures, recent improvements in our financial position provide reasonable assurance that we will continue as a going concern for at
least twelve months from the date of the financial statements.

88

Historically, we have financed our operations
to date primarily through partnerships, funds received from public offerings of common stock, a debt financing facility, as well as funding
from governmental bodies. We continue to plan for additional capital through the sale of common stock in public offerings and/or private
placements, debt financings, or through other capital sources, including pursuant to the ATM, collaborations with other companies or
other strategic transactions. While there can be no assurance that these plans will be completed successfully or at all, our current
financial position and resources mitigate prior concerns related to going concern uncertainties.

During the three months ended June 30, 2025, we sold 163,283,465 shares
of common stock for aggregate gross proceeds of $40.2 million and net proceeds of approximately $38.7 million after deducting $1.5 million
in commissions payable to the sales agent. As of September 29, 2025, our unrestricted cash and cash equivalents were $73.4 million. Based
on our unrestricted cash and cash equivalents as of September 29, 2025, we anticipate that we will be able to fund our planned operating
expenses and capital expenditure requirements for at least twelve months from the date of the financial statements included in this Annual
Report. We have based these estimates on assumptions that may prove to be wrong, and we could use our capital resources sooner than we
currently expect.

Off-Balance Sheet Arrangements

We did not have, during the periods presented,
and we do not currently have, any off-balance sheet arrangements, as defined in the rules and regulations of the SEC.

Cash Flows

Comparison of Cash Flows for the Fiscal Year ended June 30, 2025,
with June 30, 2024

The following table summarizes our cash flows
for the periods presented:

    Year Ended June 30, 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(12,513) 
    $(15,845)
  
    Net cash provided by/(used in) investing activities 
     (8) 
     (277)