Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 123

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 123
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, and through additional raises of capital. As of December 31, 2024, NLS incurred accumulated losses of approximately $74.4 million. The disclosure regarding substantial doubt about its ability to continue as a going concern could materially limit its ability to raise additional funds through the issuance of equity or debt securities or otherwise in 38 the future. Further financial statements may also include a similar disclosure with respect to its ability to continue as a going concern. Until NLS can generate significant recurring revenues, NLS expects to satisfy its future cash needs through existing cash, debt or equity financing. NLS expects to require additional financing to fund its operations in the near future. NLS cannot be certain that additional funding will be available to it on acceptable terms, if at all. If funds are not available, NLS may be required to delay, reduce the scope of, or eliminate research or development plans for, or commercialization efforts with respect to its products and it risks its ability to continue operating as a going concern. NLS is exposed to various risks related to legal or administrative proceedings or claims that could adversely affect its financial condition, results of operations and reputation, and may cause loss of business. Litigation in general can be expensive, lengthy and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict. NLS and/or its directors and officers may be involved in allegations, litigation or legal or administrative proceedings from time to time. On August 27, 2024, the Company received correspondence from Université de Lausanne, initiating the official “audience de conciliation” procedure, overseen by the ordinary civil court in Lausanne. The hearing was scheduled for October 9, 2024, at the Tribunal d’arrondissement de Lausanne. The complaint pertains to an unpaid invoice for research services amounting to $110,179, plus interest at a rate of 5%. At the hearing on October 9, 2024, Université de Lausanne was not open to discussing a potential settlement. The Company asserts that the services provided did not meet the required standard of care and intends to defend its position. On 9 May 2025, the Company filed a statement of defense and asserted a counterclaim in CHF 30,000 plus compensatory interests at a rate of 5% per annum since June 29, 2022. Regardless of the merits, responding to allegations, litigation or legal or administration proceedings and defending against litigation can be