Company: IXHL
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013783
Chunk: 25

Company: Incannex Healthcare Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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For the three and six months ended December 31,
2024, and December 31, 2023, respectively, the Company did not recognize a provision or benefit for income taxes due to incurring net
losses. In addition, the net deferred tax assets arising from net operating losses were fully offset by a valuation allowance as the Company
believes it is not more likely than not that the benefit will be realized.

Note 15 – Loss per share 

All share and earnings per share amounts presented
below reflect the impact of the Re-domiciliation as if it had taken effect on July 1, 2022.

Basic and diluted net loss per share attributable
to stockholders was calculated as follows (in thousands, except share and per share amounts):

    For the six months ended December 31, 

    2024
$  
    2023
$ 
  
    Basic and diluted loss per share – (dollars per share) 
     (0.65) 
     (0.38)
  
    The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows: 

    Total comprehensive loss for the year (in thousands) 
     (11,388) 
     (5,550)
  
    - Weighted average number of Common Stock (number) 
     17,563,200  
     15,873,113 

    For the three months ended December 31, 

    2024
$  
    2023
$ 
  
    Basic and diluted loss per share – (dollars per share) 
     (0.33) 
     (0.33)
  
    The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows: 

    Total comprehensive loss for the year (in thousands) 
     (6,308) 
     (4,314)
  
    - Weighted average number of Common Stock (number) 
     17,624,422  
     15,873,113 

The Company notes that the diluted loss per share
is the same as basic loss per share.

Note 16 – Related Party Transactions

Transactions between related parties are conducted
on commercial terms and conditions, no more favorable than those available to other parties, unless otherwise stated.

There were no amounts payable to any related parties as of
December 31,