Ann: Incannex Undertakes A$13 Million Institutional Placement, page-199

You are spot on!!! Joel is working his ass off for Incannex and Shareholders. In fact – he even left his young family at home and relocated to the USA for a period of time. If this doesn’t give you confidence that he lives and breath’s Incannex then nothing will. Leading up to the AGM I asked Joel why he was having the AGM in Perth, he said, we have a lot of loyal shareholders in Perth and he hadn't had a chance to get back over there since COVID. That sums the guy up - Joel is in this for the journey and the people along the way and wants family, friends and shareholders to all be proud and handsomely rewarded at the end. Some of yesterdays comments would have been hard, especially when Joel believes the decision is in the best interest of all shareholders and Incannex's future. I am sure shareholders will be grateful retrospectively of this investment/collaboration/connection.

Just as they are retrospectively happy about the other decisions that some of you couldn’t understand at the time!!!

• Winding up the dental business.
• Giving away the mouth-guards.
• Hiring of Sud from nowhere.
• Winding up the CBD oils.
• Getting into psychedelics.
• Opening up Sud’s board spot.

In 12 months - the below are going to also look like amazing decisions.

• List on the NASDAQ - This will lead the way eventually – most likely in 2023 when we begin clinical trials.
• APRIx acquisition - You will eventually see the massive value in this.
• Hiring of Bob - using Sud's vacant position.
• SIG placement – Let this play out - Joel and the board believed in the above decisions and they got them right!!!