Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 527

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 2
Chunk 527
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Item 2. Properties

Our corporate headquarters are located in Norwest,
New South Wales, where we lease commercial office space under a lease that expires in July 2026, with an option to extend the lease for
two additional two-year periods.

We believe substantially all of our property and
equipment is in good condition and that we have sufficient capacity to meet its current operational needs.

Item 3. Legal Proceedings

From time to time, we may become involved in litigation
or other legal proceedings arising in the ordinary course of our business. We are not currently a party to any material litigation or
legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of
outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, negative
publicity, reputational harm and other factors.

Item 4. Mine Safety Disclosures

Not applicable.

83

PART II

Item 5. Market for Registrant’s Common Equity, Related
Stockholder Matters and Issuer Purchases of Equity Securities

Market Information for Our Common Shares

Our shares of common stock commenced trading on
the Nasdaq Global Market in November 2023 under the symbol “IXHL” and were transferred to the Nasdaq Capital Market effective
as of July 10, 2025.

Holders of Record

As September 28, 2025, there were 347,705,507 shares of our common
stock outstanding and held of record by approximately 4,657 stockholders.

Dividend Policy

We have never declared or paid any dividends on
our shares of common stock. We intend to retain any earnings for use in our business and do not currently intend to pay cash dividends
on our shares of common stock. Dividends, if any, on our outstanding shares of common stock will be declared by and subject to the discretion
of our board of directors, and subject to the terms of our debt arrangements, as described above, and Delaware law.

Recent Sales of Unregistered Securities

None.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

None.

Item 6. [Reserved]

Item 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations

You should read the following discussion and
analysis of our financial condition and results of operations together with our consolidated financial statements and the related notes
included elsewhere in this Annual Report. This discussion and analysis contains forward looking statements and