Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 775

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 775
---
 ) |
| Total shareholders’ equity (deficit)                                                                                                                  |     |              |   1,406,361 |   |     |      |  (8,833,563 | ) |
| Total liabilities and shareholders’ equity (deficit)                                                                                                  |     | $            |   2,233,125 |   |     | $    |   1,846,641 |   |

The accompanying notes are an integral part of these consolidated financial statements.

Annex F-4

NLS PHARMACEUTICS LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

| OPERATIONS:                                                                                     
 Operating expenses:                                                                             |     | For the Years Ended December 31, 
 2024                             |            |   |     | 2023 |             |   |     | 2022 |             |   |
|:------------------------------------------------------------------------------------------------|:----|:---------------------------------|-----------:|:--|:----|:-----|------------:|:--|:----|:-----|------------:|:--|
| Research and development                                                                        |     | $                                |    422,051 |   |     | $    |   5,908,288 |   |     | $    |   8,976,643 |   |
| General and administrative                                                                      |     |                                  |  3,214,224 |   |     |      |   5,898,775 |   |     |      |   6,505,721 |   |
| Merger transaction costs                                                                        |     |                                  |    743,838 |   |     |      |           — |   |     |      |           — |   |
| Total operating expenses                                                                        |     |                                  |  4,380,113 |   |     |      |  11,807,063 |   |     |      |  15,482,364 |   |
| Operating loss                                                                                  |     |                                  | (4,380,113 | ) |     |      | (11,807,063 | ) |     |      | (15,482,364 | ) |
| Other income (expense):                                                                         |     |                                  |            |   |     |      |             |   |     |      |             |   |
| Other income due to the termination of EF License Agreement                                     |     |                                  |  2,499,969 |