Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 20

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 20
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1.8 million and $11.4 million for the fiscal years ended June 30, 2025
and 2024, respectively. In the fiscal year ended June 30, 2024, due to multiple years of tax incentives being granted and successful lodgement
of overseas findings on the Company’s lead assets, the Company changed its estimates for the R&D tax incentive receivable, primarily
based on historical experience of claims, which resulted in an increase in R&D tax incentive receivable in the fiscal year ended June
30, 2024.

Note 5 - Property, Plant and Equipment, net

    June 30, 2025  
    June 30, 2024 

    (in thousands) 
  
    Furniture, fittings and equipment 
     495  
     598 
  
    Assets under construction 
     -  
     - 
  
    Total property, plant and equipment, gross 
     495  
     598 
  
    Accumulated depreciation and amortization 
     (269) 
     (126)
  
    Total property, plant and equipment, net 
    $227  
    $472 

Depreciation expense is recorded within general
and administrative expense in the Consolidated Statements of Operations and Comprehensive Loss and amounted to $143,000 and $103,000 million
for the fiscal years ended June 30, 2025 and 2024, respectively.

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

    June 30, 2025  
    June 30, 2024 

    (in thousands) 
  
    Current liabilities 

    Trade payables 
     6,074  
     527 
  
    Contract liabilities 
     30  
     85 
  
    Total trade and other payables 
     6,104  
     612 

    Accrued expenses 
     661  
     4,512 
  
    Employee leave entitlements 
     35  
     333 
  
    Total accrued expenses and other current liabilities 
     696  
     4,845 
  
    Total trade and other payables, accrued expenses and other current liabilities 
     6,800  
     5,457 

F-15

Trade and other payables are unsecured, non-interest
bearing and are normally settled within 30 days