News: IHL Incannex Healthcare Ltd Files To Withdraw U.S. IPO Plans, page-10

Well, while I know that I am easily confused, can the heavy hitters explain this fully?
As I understood it, there was to be a NASDAQ listing coinciding with an issue of shares in the US.

Now, what I do not quite get is this: Is Incannex not listing at all for now (having made the smart decision not to raise capital at this time of weakness in the market generally)? When they decide to list, will this restart what I understand to be a lengthy process to achieve a NASDAQ listing?

Or does the initiated listing process remain in force, with a listing due in February?