Company: IXHL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110299
Chunk: 46

Company: Incannex Healthcare Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 46
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$66,184 for the three months ended September 30, 2025 and 2024, respectively.

12

Note 6 – Trade and other payables, accrued expenses and other
current liabilities

    September 30,  2025 $  
    June 30, 2025 $ 

    (in thousands) 
  
    Current liabilities 

    Trade payables 
     1,266  
     6,074 
  
    Contract liabilities 
     30  
     30 
  
    Total trade and other payables 
     1,296  
     6,104 

    Accrued expenses 
     154  
     661 
  
    Employee leave entitlements 
     52  
     35 
  
    Total accrued expenses and other current liabilities 
     206  
     696 
  
    Total trade and other payables, accrued expenses and other current liabilities 
     1,502  
     6,800 

Trade and other payables are unsecured, non-interest
bearing and are normally settled within 30 days. The carrying amounts are a reasonable approximation of fair value.

Note 7 – Leases

During fiscal year 2023, the Company entered into
three new lease agreements for its corporate head office in Sydney, Melbourne office and Clarion Clinic site. The leases have four, five
and three-year terms respectively. These leases require monthly lease payments that may be subject to annual increases throughout the
lease term. Certain of these leases also include renewal options at the election of the Company to renew or extend the lease for an additional
three to five years. These optional periods have not been considered in the determination of the right-of-use assets or lease liabilities
associated with these leases as the Company did not consider it reasonably certain it would exercise the options.

The following table summarizes the weighted-average
remaining lease term and discount rates for the Company’s operating leases:

     September 30,  2025   June 30, 2025   Lease term (years)   1.07    1.32                Discount rate   9.18%   9.18% 

The following table summarizes the lease costs
pertaining to the Company’s operating leases:

    September 30,  2025 $  
    June 30,  2025 $