Company: IXHL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110299
Chunk: 17

Company: Incannex Healthcare Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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10 – Stock-based payments  (continued)

Restricted Stock and Restricted Stock Units

A summary of the changes in the Company’s restricted stock unit
and restricted stock activity for the period ended September 30, 2025, are as follows:

    Numbers of  Shares  
    Weighted  Average Grant  Date Fair Value  $ 
  
    Unvested and Outstanding as of June 30, 2025 
     40,767,047  
     0.23 
  
    Granted 
     100,476  
     0.23 
  
    Vested 
     -  
     - 
  
    Forfeited 
     -  
     - 
  
    Unvested and Outstanding as of September 30, 2025 
     40,867,523  
     0.23 

Stock options

A summary of the changes in the Company’s stock options activity
for the three months ended September 30, 2025, are as follows:

     Number of Shares   Weighted Average Exercise Price ($)   Weighted Average Remaining Contractual Term  (Years)   Aggregate Intrinsic Value  (in thousands) ($)   Outstanding as of June 30, 2025   227,508    27.22    1.46          -   Granted   -    -    -    -   Exercised   -    -    -    -   Cancelled or forfeited   (109,335)   40.16    0.08    -   Outstanding as of September 30, 2025   118,173    15.25    1.78    -   Unvested as of September 30, 2025   -    -    -    -  

The aggregate intrinsic value of stock options is calculated as the
difference between the exercise price of the stock options and the fair value of the Company’s shares of common stock for those
stock options that had exercise prices lower than the fair value of the Company’s shares of common stock.

15

Note 11 – Income Tax 

For the three months ended September 30, 2025,
and September 30, 2024, respectively, the